60000 Provision for Dep.Liabilities 2010 2011 Assets 2010 2011 Share Capital 100000 120000 Goodwill 15000 13000 Profit/loss a/c25000 45000 Building 50000 45000 Debenture 50000 75000 Machinery 100000 120000 creditors10000 15000 Furniture 1000 2000 Bills Payable 1000 2000 Investment ..On Debtors 13000 12000 Building 5000 7000 Stock 12000 11000 Machinery 3000 4000 Cash 2000 4500Preliminary Exp. 1000 500 194000 268000 194000 268000 Additional information A Part of building of theoriginal cost of Rs 5000on which accumulated depreciation was Rs 500 was sold during the year 2011 for Rs6000 One Machine costing Rs 10000 on which accumulated depreciation Rs. 300 was sold during theyear for Rs. 8000 in 2011. An Interim Dividend Paid during the year 2011 was Rs. 15000. you arerequired to prepare a Fund flow Statement. You are required to prepare a Fund flow Statement.

Fund Flow Statement -A report on the movements, flow, or changes in financial activities throughout…

Answered: Liabilities 2010 2011 Assets 2010 2011…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Problem 2: Trody Co., from the previous problem, wants to prepare forecasted financial statements for the year 2015 using the percent of sales method, and the below additional given (Round numbers to the nearest dollar): Given forecasted sales of 2015: $6,500 b- The tax rate will be 40% in 2015. The company expected to distribute dividends of $750 in 2015. The interest rate on all interest-bearing loans will be 5% annually in 2015. The company is not intending to make changes to its fixed assets a- C- d- e- 1- The forecasted cost of goods sold for 2015 is expected to be: O a) $3,300 Ob) $3,738 c) $3,000 d) $4,250 e) None of the above. 2- Forecasted fixed expenses amount for 2015 is expected to ber
The following data are provided: December 31 2021 2020 Cash $ 1300000 $ 1005000 Accounts receivable (net) 1500000 1150000 Inventories 2600000 2100000 Plant assets (net) 6000000 6600000 Accounts payable 1150000 820000 Income taxes payable 220000 90000 Bonds payable 1400000 1400000 10% Preferred stock, $50 par 1800000 1800000 Common stock, $10 par 2300000 1700000 Paid-in capital in excess of par 1650000 1400000 Retained earnings 4100000 3400000 Net credit sales 12800000 Cost of goods sold 8500000 Operating expenses 2900000 Net income 1600000 Additional information:Depreciation included in cost of goods sold and operating expenses is $1200000. On May 1, 2021, 60000 shares of common stock were issued. The preferred stock is cumulative. The preferred dividends were not declared during 2021.At December 31, 2021,…
Question 10 of 25 Based on the following data, what is the amount of working capital? Accounts payable Accounts receivable Cash Intangible assets Inventory Long-term investments Long-term liabilities Short-term investments Notes payable (short-term) Property, plant, and equipment Prepaid insurance $404240 O $411680 > O $458800 $79360 141360 86800 124000 171120 198400 248000 99200 69440 1661600 2480
Q14: The following are the Condensed statement of Financial Position of Company A and on december 31,2020. A В Current Assets. 2562500 7639375 Plant and Equipment 768500 22918125 Current liability 555000 300,000 long Term Debt. 2220000. 500,000 Share Premium 1250,000 100,000 Retained Earning. 1609000. 425000 Additional Paid-in 1516000. 437500 Сapital 79 Company C acquires the Net Asset of Both A and B. Paying Cash in Amount of 185000 and by issuing 198500 shares to A, Paying of 72000 and by issuing 54350 shares is 30 to B' Par cash in the amount by issuing 54350 Shares value of Share is 30 and market value on acquisition is 40. Requirments: a) Entry that made in the Book of A. b) Entry that made in the Book of B. c) Entry that made in the Book of C.
Q4 Corporation financial statements at December 31 (in millions) ASSETS Cash LIABILITIES Accounts payable Notes payable Accrued wages Accrued taxes Total current liabilities 20X9 S10 5. 3. 2. 20X8 20X9 $5 10 15 20X8 $ 8 5. 2. 3. $ 4 Accounts receivable Inventory 12 Total current assets Long-term debt Common stock Retained carnings Total Net fixed assets 40 40 20 10 20 10 15 20 Total Sales $95, Cost of goods sold $50, Selling, general, and administrative expenses S15. Depreciation $3,Interest $2, Taxes $10 (a) Prepare a flow of funds statement for 20X9 for the Corporation (b) Prepare a cash flow statement using the indircct method for Corporation.
M39.
2021 2$ Cash Available-for-sale debt securities (not cash equivalents) Accounts receivable Inventory Prepaid insurance Land, buildings, and equipment Accumulated depreciation 94,025 23,000 95,000 180,000 2,850 1,280,000 (625,000) $1,049,875 2020 31,955 100,000 81,750 158,500 3,500 1,140,000 (587,000) $ 928,705 $ 163,670 32,000 90,000 Total assets Accounts payable Salaries payable Notes payable (current) Bonds payable Common stock Retained earnings 2$ 89,840 26,000 38,500 215,000 300,000 380,535 300,000 343,035 $ 928,705 ces Total liabilities and shareholders' equity $1,049,875 Additional information for 2021: (1) Sold available-for-sale debt securities costing $77,000 for $83,000. (2) Equipment costing $20,000 with a book value of $6,500 was sold for $8,250. (3) Issued 6% bonds payable at face value, $215,000. (4) Purchased new equipment for $160,000 cash. (5) Paid cash dividends of $27,500. (6) Net income was $65,000. Required: Prepare a statement of cash flows for 2021 in good form…
Goods sent on consignment R760 000. Opening consignment stock R48 000. Cash sales R700 000. Consignor’s expenses R20 000. Consignee’s expenses R12 000. Commission R20 000. Closing consignment stock R300 000. The profit on consignment is________. Select one: a. R150 000 b. R140 000 c. R92 000 d. R456 000
1.Presented below are the financial statements of KJ Electronics KJ Electronics Inc. Comparative Balance Sheets September 30 Assets 2021 2020 Current Assets Cash $92000 $42980 Short Term Investments 29500 22500 Accounts Receivable 56900 22300 Inventory 102,300 90220 Long Term Assets Long term Investments 96,300 103000 Equipment 198,000 215000 Accumulated depreciation- equipment (50000) (48000) Total $525,000 $448,000 Current Liabilities Accounts Payable $85,300 $30200 Accrued Expenses payable 26700 15000 Long Term Liabilities Bonds Payable 97,300 79,570 Stockholders’ Equity Common Stock 150,000 165500 Retained Earnings 165,700 157,730 Total $525,000 $448,000 KJ Electronics Inc. Income Statement For the Year Ended September 30, 2021 Sales Revenue Less: Sales Returns and Allowances Net…
A. P4,000,000 B. P4,500,000 C. P4,800,000 D. P5,300,000 E. answer not given
Income statement 2021 £,000 Sales 7000 Cost of sales -3000 Gross profit 4000 Administration and distribution expenses -1000 Interest payable -500 Dividend received 600 Profit before tax 3100 Taxation -1000 Profit after tax 2100 Balance Sheet 2021 2020 £'000 £'000 £'000 £'000 Assets: Non-Current Assets Property, plant and equipment 13000 10000 Investment 3000 3000 16000 13000 Current Assets Inventories 5500 5000 Trade receivables 2500 4500 Cash at bank 1000 9000 0 9500 Total Assets 25000 22500 Equity and Liabilities: Share capital 6000 5000 Share premium account 3000 2000 Retained earnings 3900 3000 12900 10000…

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