Question 1 : A farmer reports the following financial information for 2020 operation: Current assets Net worth, end of year Depreciation. Operating expenses Ratio of total liabilities to net worth Proprietor withdrawals Change in inventory. Capital purchases . Operating receipts Noncurrent assets Current liabilities 200,000 200,000 20,000 60,000 3 50,000 30,000 ............. ..... - 40,000 200,000 400,000 100,000 ............. a. Use this information to formulate an annual income statement.

Question 1 : A farmer reports the following financial information for 2020 operation: Current assets Net worth, end of year Depreciation. Operating expenses Ratio of total liabilities to net worth Proprietor withdrawals Change in inventory. Capital purchases . Operating receipts Noncurrent assets Current liabilities 200,000 200,000 20,000 60,000 3 50,000 30,000 ............. ..... - 40,000 200,000 400,000 100,000 ............. a. Use this information to formulate an annual income statement.

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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Question 1The following information was extracted from the financial statement of Barryfor the year ended 31 December 2020. RMSales 437,500Opening inventories 17,500Closing inventories 26,250Cost of sales 262,500Other income 3,750Expenses 61,250Current liabilities 47,250Trade receivables 39,375Bank 8,750Cash 31,500Required:(a) Show the formulae and compute the value of the following for Barry:(i) Purchases(ii) Gross profit(iii)Net Profit
left numbers are 2025 right column is 2024. i need to figure out B. asset turnover C return on assets D. return on common stockholder equity.
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The following are extracts from the financial statements of Captus Ltd. As at 31 March: 2021 2020 Sh.’000’ Sh.’000’ Sh.’000’ Sh.’000’ Fixed assets: Goodwill Freehold land and building Plant and machinery (NBV) Investment at cost Current assets: Stocks Accounts receivable Investments Cash at hand and bank Current liabilities Bank overdraft Accounts payable Proposed dividends Taxation Net current assets 15% debentures Capital and reserves: Authorised, issued and paid Sh.10 Ordinary shares Share premium Revaluation reserve Retained profit 10,050 6,140 1,710 200 18,100 (2,390) (5,850) (450) (820) (9,510) 2,800 16,800 5,860 3,600 29,060 8,590 37,650 (7,500) 30,150 18,000 1,500 4,500 6,150 8,700 7,800 840 430 17,770 (6,540) (5,250) (380) (600) (12,770) 2,900 12,000 6,350 3,750 25,000 5,000 30,000 (9,000) 21,000 15,000 750 -…
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Use the following data to determine the total dollar amount of assets to be classified as long-term investments. Ace Supply Company Balance Sheet December 31, 2025 Cash Accounts receivable Inventory Short-term investments Land (held for future use) Land Buildings Less: Accumulated depreciation (60,000) Franchise Total assets O $255,000 O $0 $339,000 O $465,000 O $585.000 $ 126,000 120,000 210,000 90.000 255.000 285,000 210.000 $1.575.000 Accounts payable Salaries and wages payable Note payable (due 2028) Total liabilities Common stock Retained: earnings Total stockholders' equity Total liabilities and stockholders' equity 279,000 $ 165,000 30,000 270.000 465,000 360,000 750,000 1.110.000 $1.575.000
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How do you find the red numbers on the balance sheet and income statement?