Scenario:Payment for note payable29.050The 2020 comparative balance sheet and 2020 income statement of Maple Group Ltd, haveDividend paidBook value of equipment sold90,950just been prepare and presented to the owners by the company's Accountant. Upon closeexamination of the financial information received, it was discovered that some figures in thebalance sheet were erroneously omitted due to an oversight by the accountant who is notavailable to fix the problem due to his unavoidable absence from work. In addition, theRequirementsouners were concemed about the movement in the company's cash and cash equivalentgiven that the balance sheet does not show or explain the reason or reasons why there was an1. How can the owners use the cash flow information or what can the statement of cashflows helps the owners to do?Maple Group LtdIncome Statementincrease or decrease in this area The company uses the indirect method to prepare thestatement of cash flows and it is expected that this should be able to provide the needed2. Reconstruct the company's comparative balance sheet for 2019/2020 using theinformation and compute and show the missing figures to include the appropriate signas a positive or negative figure.Year Ended December 31,2020clarity required by the owners.Revenues and gains:The owners have asked each student from your accounting course to assist with the neededlarification and have put forward the following financial information.Sales revenue499,0003. Prepare a complete statement of cash flows for 2020 using the indirect method usingthe information.Interest revenue11.800Maple Group LtdComparative Balance SheetDecember 31, 2020 and 2019Total revenues and gainsЕxpenses510,800Increase/(Decrea20202019 se)Cost of goods sold205,500AssetsDepreciation expense28,500Cash and cash equivalent64,99061.895Other operating expense126,000Accounts Receivable95.10088.500Interest expense24,300Inventories72,50079,855?Fixed Assets, net?Total expenses384,300Total Assets442,590395,80048.790Income before income taxes126,500LiabilitiesIncome tax exxpense18,300Accounts payableAccrued liabilities45,00058,350Net Income110,200??Long-term notes payableStockholders' Equity:99,500128,550NotesAcquisition of fioced asset during202072.950Common Stock143,050105,11037.940Sale proceeds from sale of plantassetRetained earnings43,54024,29019.250Receipt for issuance of notesраyableTotal liabilities and stockholders'equity442,590395,80048,790

Cash flow statement is one of the financial statement which shows all cash inflows and cash outflows…

Scenarie: Payment for note payable 20.050 The 2020 comparative balance sbeet and 2020 income statement of Maple Group Ltd, have Dividend paid Book value of equipment sold 90.050 just been prepare and presented to the onners by the company's Accountant. Upon close ecamination of the financial information received, it was discorvered that some figures in the balance sheet were emoneously omined due to an oversighe by the accountant who is not available to fix the problem due to his unavoidable absence trom work. In addition, the owners were concemed about the movement in the company's cash and cash equialent Requirements given that the balance sheet does not show or eplain the reason or reasons why there was an 1. How can the onners use the cash flow information or what can the statement of cash flows helps the onners to do? Maple Group Ltd Income Statement Year Ended December 31.2020 amdaad os popa ampn ag san ndmoo a Ta garanap aao 2. Reconstruct the company's comparative balance sbeet for 2019 2020 using the information and compute and show the missing figures to inchade the appropriate sig as a positive or negative figure. stanemment of cash fows and t is epected that this should be able to pronide the needed clarity required by the onners. Revenues and gains The onners have asked each student fom your accounting coune to assist with he needed arification and have put forward the following financial infomation Sales revenue 400.000 3. Prepare a complete statement of cash Sons for 2020 using the indirect method using the information Interest revenue 11.800 Maple Group Ltd Comparative Balance Sheet December 31. 2020 and 2010 Total revenues and gains Expenses 510,800 2020 Increase/(Decrea 2010 se) Cost of goods sold 205.500 Assets Depreciation expense 28.500 Cash and cash equivalent 04.000 01.805 Other operating expense 126.000 Accounts Receivable 05,100 88.500 Interest expense 24.300 72.500 70.855 Inventories Foxed Assets, net Total expenses 384,300 Total Assets 442.500 305.800 40.700 Income before income taves 120.500 Liabilities Income tax expense 18 300 Accounts payable Accrued lisbilities 45.000 ? 58.350 Net income 110.200 Long-term notes payable Stockholders Equity. 00,500 128,550 Notes Acquisition of foced asset during 2020 Sale proceeds from sale of plant 72.050 Common Stock 143,050 105,110 37.040 asset Receipt for isSuance of notes payable 43.540 24.290 10 250 Total liabiingndholders equity 442.500 305.800 48.700