Question No: 03 Statement of Income and Expenditure for the year ended March 31, 2022 193400 1200 1000 Sales Dividend Income. Interest Income. Gain on disposal of plant Total Income Cost of goods sold Depreciation expense Finance Cost Selling and administration expense Loss on sale of investment. Total expense Profit before tax 3200 Options 198800 116600 23000 3600 5400 1200 149800 49000 16-82521-20 9116-82521-2023/35/2 679116-82521-2023/05/21 During the period, inventories increased by Rs.3000, trade receivables decreased by Rs.4600, and trade payables decreased by Rs. Rs.3200. Selling and administrative expenses include a bad debt expense of Rs.1400. You are required to present the cash flows from the operating activities of Tribhuvan Spintex Ltd. 2021 16-82521-2023/05/2 79116-07-21-2023/05/2 05/21-20246679116-8252

Question No: 03 Statement of Income and Expenditure for the year ended March 31, 2022 193400 1200 1000 Sales Dividend Income. Interest Income. Gain on disposal of plant Total Income Cost of goods sold Depreciation expense Finance Cost Selling and administration expense Loss on sale of investment. Total expense Profit before tax 3200 Options 198800 116600 23000 3600 5400 1200 149800 49000 16-82521-20 9116-82521-2023/35/2 679116-82521-2023/05/21 During the period, inventories increased by Rs.3000, trade receivables decreased by Rs.4600, and trade payables decreased by Rs. Rs.3200. Selling and administrative expenses include a bad debt expense of Rs.1400. You are required to present the cash flows from the operating activities of Tribhuvan Spintex Ltd. 2021 16-82521-2023/05/2 79116-07-21-2023/05/2 05/21-20246679116-8252

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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Concept explainers

Deferred Tax

Deferred tax is an estimated future tax which is made while preparing accounts. It is estimated as a result of past and present transactions in the financial statements. It is not the actual tax which needs to be paid or refundable from the revenue authority, it is an accounting entry. It exists because of the difference between accounting profits and taxable profits.

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Precision Tools 2021 Income Statement Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid $36,408 28,225 1,760 6,423 510 5,913 Taxable Income Less: Taxes 2.070 $3.843 Net Income Precision Tools 2020 and 2021 Balance Sheets 2020 2021 2020 2021 $ Cash 2,060 1,003 Accounts 7,250 8,384 payable Accounts 3,411 4,218 receivable 21.908 27,129 Inventory 18,776 24,247 17,500 3.825 Common stock Retained earnings Total liability & 15,000 Net fixed assets 14,160 14.080 6.357 Total assets 38.407 41,209 38,407 41,209 equity What is the times interest earned ratio for 2021?
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Question 97 Using Financial Statements for 2020, times interest earned for the year 2020 is 15.37. TRUE OR FALSE?
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