1. Prepare a forccast cash flow stateaent for 2020.The beginning and ending balances in each of the balance sheet accountsDec. 31, 2019Dec. 31, 2020Pi00,000360,000460,00030,000P950,000P1,500,000CashP260,000Accounts receivableInventoryPrepaid insuranceTotal current assets180,000400,00050,000P890,000P1,200,000LandPlant & equipmentAccumulated depreciationTotal non-current assets1,000,000(400,000)P1,800,0001,400,000(500,000)P2,400,000Total assetsP2,690,000P3,350,000Accounts payableAccrued operating expensesInterest payableIncome taxes payableР 300,000200,00020,000122,000P 260,000132,00030,000150.000P 572,000700,0001,100,000978,000P 642,000600,000Total current liabilitiesBonds payableCommon stock800,000Retained earnings648,000Total liabilities & equityP2,690,000P3,350,000The forecast income statement for the Mexico Company for 2020 ispresented below:SalesCost of salesGross profitOperating expensesIncome before interest & taxInterest expenseIncome before taxP2,500,0001,400,000P1,100,000300,000P 800,00050,000P 750,000300,000P 450,000Income taxNet incomeREQUIRED:1. Prepare

Cash Flow Statement is prepared by an organisation to show the flow of cash during the accounting…

Answered: IRED: 1. Prepare a forecast cash flow…

Business

Accounting

IRED: 1. Prepare a forecast cash flow statement for 2020.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 14E: Interest and Income Taxes Staggs Company has prepared its 2019 statement of cash flows. In...

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Below are the financial statements for the financial year 2020 and 2021. Statement of Financial Position as at January 31, 2019 and 2020 2021 2020 Current Assets Cash and cash balane:es 33,500 2,550 Account rocoivable 110.100 108,150 Inventories 17.000 7,140 Olher Teceivubles and prepaid experises 83,700 176.320 228.500 167,240 461,400 Fixod doposits with licenscd banks Total current assets 472,800 Properly, plant and cxquiprnenl 1,860,000 619,500 Total Assets 2,332,800 1,080,900 Current Liabilities Account Payables 60,400 27.410 Other payables and accriies expenses 65.600 56,390 Notes payables 27.800 46,800 Total current liabilities 153,800 130,600 Long term Liabilities Long term barrowings 490.500 144,700 Conveitible bonds 342.980 Hire purchase payables 106.920 76,600 Total long term liabilities 940,400 221,300 Shareholders' equity: Issued capital 253.500 201,000 Sharo promium 541.800 425.000 Retaincd carnings 443.300 103,000 Total liabilities and owners' equity 2,332,800 1,080,900
Prepare the income statements and balance sheets for years 2018 and 2019 for Thompson Company using the following information. The balance sheet numbers are at the end of year figures.Item20182019Accounts Payable120.0150.0Accounts Receivable150.0180.0Accumulated Depreciation330.0360.0Cash & Cash Equivalents10.012.0Common Stock150.0200.0Cost of Goods Sold750.0850.0Depreciation25.030.0Interest Expense30.033.0Inventory200.0180.0Long-term Debt150.0150.0Gross Plant & Equipment650.0780.0Retained Earnings208.5225.0Sales1,500.01,700.0SG&A Expenses500.0570.0Notes Payable51.567.0Tax Rate21%21%(2) Answer the following questions:(a) How much did Thompson Company spend in acquiring fixed assets in 2019?(b) How much dividend did Thompson Company pay out during 2019?(c) Using the end of year numbers, did the long-term solvency ratios improve or deteriorate from 2018 to 2019? Answer this question using at least two long-term solvency ratios.(d) Using the end of year numbers, did the asset…
The accounting records of Nettle Distribution show the following assets and liabilities as of December 31,2018 and 2019.December 31 2018 2019Cash . . . . . . . . . . . . . . . . . . . . . . . . $ 64,300 $ 15,640Accounts receivable . . . . . . . . . . . 26,240 19,100Office supplies . . . . . . . . . . . . . . . . 3,160 1,960Office equipment . . . . . . . . . . . . . . 44,000 44,000Trucks . . . . . . . . . . . . . . . . . . . . . . . 148,000 157,000December 31 2018 2019Building . . . . . . . . . . . . . . . . . . . . . $ 0 $80,000Land . . . . . . . . . . . . . . . . . . . . . . . . 0 60,000Accounts payable . . . . . . . . . . . . . 3,500 33,500Note payable . . . . . . . . . . . . . . . . . 0 40,000Required1. Prepare balance sheets for the business as of December 31, 2018 and 2019. Hint: Report only total equityon the balance sheet and remember that total equity equals the difference between assets and liabilities.2. Compute net income for 2019 by comparing total equity amounts for these…
Question Refer to the following financial statements of Rara Sdn. Bhd. for 2020 and 2019: Rara Sdn. Bhd Balance Sheets 31st December (in millions) 2020 2019 Assets Current assets Cash Acount receivable (net) Inventories Other current assets Total current assets Property (net) Other assets Total assets RM460 1,188 1,132 247 3,027 3,281 5,593 RM11,901 RM444 1,190 1,056 225 2,915 3,128 5,804 RM11,847 Liabilities and Stockholders’ Equity Current liabilities Long-term liabilities Stockholders’ equity – common Total liabilities and stockholders’ equity RM3,313 6,826 1,762 RM11,901 RM3,184 6,509 2,154 RM11,847 Rara Sdn. Bhd Income Statements For the year ended 31st December (in millions) 2020 2019 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations RM13,198 7,750 5,448 3,472 1,976 RM12,397 7,108 5,289 3,299 1,990 Interest expense Other (income) expense, net…
Following are the current asset and current liability sections of the balance sheets for Freedom Inc. at January 31, 2020 and 2019 (in millions): Current Assets Cash Accounts receivable Inventories Total current assets Current Liabilities Note payable Accounts payable Other accrued liabilities Total current liabilities January 31, 2020 Working capital Current ratio 6 EL EL $ 21 $ 15 January 31, 2019 01/31/2020 01/31/2019 9 18 $ 25 Required: a. Calculate the working capital and current ratio at each balance sheet date. (Enter "Working capital" in millions of dollars (1.e.. 10,000,000 should be entered as 10). Round your "Current ratio" to 2 decimal places.) $12 b. Evaluate the firm's liquidity at each balance sheet date. Based on the working capital and current ratio measures, the firm has become more liquid over the 2-year period. O Based on the working capital and current ratio measures, the firm has become less liquid over the 2-year period. c. Assume that the firm operated at a loss…
Ahmad Co. had the following balances on Dec,31 2019: cash flow provided by operating activities $ 120000, cash flow used by operating activities $ 75000, liabilities $ 100000, non-current liabilities $ 60000, compute the Financial Liquidity ratio: Select one: a..75 b..45 C..888 d. 1.125
UTV Corp. have the following account balances for the year ended December 31, 2020:DEBIT BALANCESAmountCash and cash equivalents400,000Accounts receivable900,000Raw materials560,000Goods in process600,000Finished goods1,400,000Financial assets at FVOCI2,500,000Sinking fund200,000Land1,000,000Building6,000,000Plant and equipment2,400,000Patent800,000Goodwill1,400,000Unrealized loss – FVOCI100,000Prepaid benefit cost20,000Treasury shares at cost250,000TOTAL18,530,000 CREDIT BALANCESAmountBank overdraft100,000Due from an officer50,000Allowance for bad debts40,000Accumulated depreciation – building1,600,000Accumulated depreciation – plant and equipment400,000Notes payable, due June 30, 20211,300,000Notes payable, due June 30, 20222,100,000Accounts payable1,000,000Provision180,000Warranty liabilities80,000Income tax payable120,000Finance lease liability180,000Deferred tax liability280,000Actuarial gain300,000Revaluation surplus360,000Share capital6,000,000Share premium2,000,000Retained…
Use the following information for Company COLTIB to create the BalanceSheet for 2020 and 2021
What is the Financial Statement Analysis?
4. Submit at least one page of written analysis for each financial statement.
Refer to the following financial statements of Merdu Sdn. Bhd. for 2020 and 2019: Merdu Sdn. Bhd. Balance Sheets 31 December (in millions) 2020 2019 Assets Current assets Cash Acount receivable (net) Inventories Other current assets Total current assets Property (net) Other assets Total assets RM460 1,188 1,132 247 3,027 3,281 5,593 RM11,901 RM444 1,190 1,056 225 2,915 3,128 5,804 RM11,847 Liabilities and Stockholders’ Equity Current liabilities Long-term liabilities Stockholders’ equity – common Total liabilities and stockholders’ equity RM3,313 6,826 1,762 RM11,901 RM3,184 6,509 2,154 RM11,847 Merdu Sdn. Bhd. Income Statements For the year ended 31 December (in millions) 2020 2019 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations RM13,198 7,750 5,448 3,472 1,976 RM12,397 7,108 5,289 3,299 1,990 Interest expense Other (income) expense, net…
Consider the following information taken from GER's financial statements: September 30(in thousands) 2020 2019 Current assets: Cash and cash equivalents $1,274 $6,450 Receivables 30,071 16,548 Inventories 31,796 14,072 Other current assets 4,818 2,620 Total current assets $67,959 $39,690 Current liabilities: Current portion of long-term debt $97 $3,530 Accounts payable 23,124 11,228 Accrued compensation costs 5,606 1,929 Accrued expenses 9,108 5,054 Other current liabilities 874 777 Total current liabilities $38,809 $22,518 Also, GER's operating cash flows were $11,255 and $13,736 in 2020 and 2019, respectively. Round your answers to two decimal places. 2. Calculate the quick ratios for 2020 and 2019. Quick Ratio 2020 ?? 2019 ?? 3. Calculate the cash ratios for 2020 and 2019. Cash Ratio 2020 ?? 2019 ?? 5. Conceptual Connection: What are some reasons why GER's…