Use the following end-of-period spreadsheet below to answer the question that follow.Finley CompanyEnd-of-Period SpreadsheetFor the Year Ended December 31Adjusted Trial Balance Income Statement Balance SheetAccount TitleDr.Cr.Dr.Cr.Dr.Cr.Cash16,00016,000Accounts Receivable6,0006,000Supplies2,0002,000Equipment19,00019,000Accumulated DepreciationAccounts PayableWages PayableC. Finley, CapitalC. Finley, Drawing1,000Fees Earned21,815Wages Expense6,609Rent Expense5,769Depreciation Expense78,1936,00010,0002,00017,56542,62878,19321,8156,6095,76934,1936,00010,0002,00017,5651,00042,62842,628 44,000 35,565 The ending balance in C. Finley, Capital isOa. $8,435Ob. $25,000Oc. $25,685Od. $17,565

Financial accounting refers to the type of accounting which is primarily used by the outsiders to…

Answered: The ending balance in C. Finley,…

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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X Company reports these account balances on December 31, 2021 Accounts Payable Accounts Receivable Accumulated depreciation $450,000 150.000 180,000 600,000 80.000 300,000 Cash Drawings Operating Expenses Goodwill 90,000 000 080 Service Revenne Owner's capital Unearmed Service Reventie S00,000 720.000 50,000
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A-7
($ thousands) Present value at 19% Net cash flow Net present value 0 1 4 -13,700 -1,594 -13,700 -1,339 3,541 (sum of PVs). Period 2 3 6 3,057 6,433 10,644 10,095 5,867 2,159 3,817 5,308 4,230 2,066 5 7 3,379 1,000 Restate the above net cash flows in real terms. Discount the restated cash flows at a real discount rate. Assume a 19% nominal rate and 11% expected inflation. NPV should be unchanged at +3,541, or $3,541,000. Note: Negative answers should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers in thousands rounded to the nearest whole number. Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Real Net Cash Flows NPV
P. php1,000.00 R. 10% T. 3yrs I.? F.?
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Baghiben
ote: Total Aet-Cuat linbiwbe Accumulated fundo tthistoation: The recepts and gagmetsalleunte of Liar c for the you Balane If Sub saptindn knded 2lst Delamt 1999 Wee ce Inserrance Rate l,000 ting 3,650 L, 700 600 Glavenalerpanes 6itor Reut fnnitume Sought lana /d 27,250 Sonatins 8,500 8,150 7,80 2,St0 27250 The fillowing nformetim Rates were 3600 2,F00 popaid Geneal Raputes prepaid Doo Raut Buing Subsaptim in Qureas 100 75 Foo 600 The foced assets funituns Cnd fifting Premies bepreciate thu Asets as at Ist jan 999 were; at1,500 A5,00 by o pepare; Youre veequired to Statemat of affats - m Come and"copenditwe allounts 2 Balane sheetas at 3lst Delember 1999,
Time left 0:43:13 Y Pty. Ltd. has assessable income of $100,000, deductions of $15,000 and tax offsets of $500. What is Y Pty. Ltd.'s tax payable for the year assuming a corporate tax rate of 25%? ut of O a. $21,200 O b. $25,500 O c. $20,750 O d. $25,000

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The ending balance in C. Finley, Capital is Oa. $8,435 Ob. $25,000 Oc. $25,685 Od. $17,565