Dela Rosa Company Company The income statement for the year ended December 31, 2020, for Dela Rosa Company Company contains the following condensed information. Dela Rosa Company Company Income Statement For the Year Ended December 31, 2X20 Sales revenue P6,583,000 Cost of goods sold Operating expenses (excluding depreciation) Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income P2,810,000 2,086,000 880,000 24,000 5,800,000 783,000 353,000 P430,000 The P24,000 loss resulted from selling equipment for P270,000 cash. The equipment was purchased at a cost of P750,000. The following balances are reported on Delar Rosa's comparative balance sheets at December 31. Dela Rosa Company Company Comparative Balance Sheets 2X19 P130,000 610,000 867,000 501,000 2X20 Cash Accounts receivable P672,000 775,000 834,000 521,000 Inventory Accounts payable Income tax expense of P353,000 represents the amount paid in 2020. Dividends declared and paid in 2020 totaled P200,000. Required: Prepare the statement of cash flows using a. Indirect method b. Direct method

Q: Define Assigning.

A: Assigning is a process of assignment. Assignment means a transfer of a right to receive a…

Q: Looking for answers to the below questions

A: Multi-step income statement is prepared in different steps showing gross profit and net profit…

Q: Define and expain

A: Detailed Explanation of Nursing1. Patient Care:Direct Care: Nurses provide hands-on care to…

Q: What is a user view?

A: Database Management:  Database management refers to management of databases held within an…

Q: What islockbox system?

A: Banks provide various services to the organizations such as lock box facility, overdraft facility,…

Q: Describe the functions and powers of ASIC

A: Australian securities and investment commission is a commission made in 1998 of Australian…

Q: Explain NAREIT Index?

A: NAREIT Index Rate: It implies the compound dividend yield which is communicated as far as a yearly…

Q: answers be itemized

A: There are situations when a company computes that if there is a change in the depreciation method…

Q: What would the entry be for the letter H.?

A:

Q: PICTURE PERFECT COMPARATIVE BALANCE SHEETS DECEMBER 31, Increase Additional Information: ASSETS Cash…

A: The following cash flow statement is recorded in the accounts of picture Perfect Company for the…

Q: i need details explanatio

A: Under FIFO method, unit purchase first, sold first. Cost of goods sold means we need calculate cost…

Q: Define basis point

A: Answer: A base value is an approximate number, also used as an initial index value. All potential…

Q: What is an REA diagram?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: how to calculate appiled averhead

A: Applied overhead: It includes indirect costs that cannot be directly applied to the product such as…

Q: What are the answers

A: The answer is as fallows

Q: Need help for part C an D

A: In case of realisation of assets, outsider liabilities have first right on such realisation , such…

Risk Management Techniques

Risk management is the procedure of recognizing, analyzing, monitoring, and preventing the risks and threatening factors of investments and business. Risks can arise from various factors including internal controls, market changes, natural disasters, and failure in productions. Risk management techniques enable entities to control and minimize the risks as well as the threatening factors of the business and it also helps to improve the business.