The financial statements of the company for the pasttwo years are summarised below: Particulars 2020 2021Assets: Cash Nil 2000 Trade debtors 55000 40000 Stock-in-trade 55000 45000 Fixed Assets (Net) 137000 145000 247000 232000 Liabilities: Tradecreditors 32000 25000 Provision for taxation11000 9000 Bank Overdraft 12000 Nil Paid - Up capital150000 150000 General reserve 30000 35000 P&LAppropriation A/c 12000 13000 247000 232000 Netincome Statement 2020 2021 Sales 400000 375000Less: COGS 245000 225000 Other expenses130000 (375000) 132000 (357000) Net Profit25000 18000 Opening stock on 1st January 2020 wasRs.60000 Calculate the following ratios for two years:-1) Current Ratio 2) Quick ratio 3) Stock Turnover ratio4) Debtors' turnover ratio 5) Average collection periodAssume 360 days in a year

The objective of the question is to calculate the following ratios for the years 2020 and 2021:…

Answered: The financial statements of the company…

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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The financial statements of Carrier Office Furniture Company include the following items: 2025 $44,000 14,000 98,000 149,000 553,000 290,000 60,000 Cash Short-term Investments Net Accounts Receivable Merchandise Inventory Total Assets Total Current Liabilities Long-term Note Payable What is working capital for 2026? O A. $37,500 OB. $98,500 O C. $191,000 O D. $66,500 2026 $48,500 29,000 95,000 165,000 526,000 271,000 64,000
As of December 31, 2021, Halaga Corporation reported the following items in its balance sheet: Cash- P520,000 Receivables- P240,000 Inventory- P350,000 Equipment- P850,000 Accounts payable- P325,650 Short-term notes payable- P524,500 Long-term debt- P1,049,850 Weighted average of outstanding shares in 2021- P250,000 Halaga Corporation contracted a third-party appraiser which has determined that the replacement value of its assets. This resulted to P14.22 calculation as its replacement value per share of the company.Based on the report of the appraiser, the property and plant have replacement cost of 125% of its reported value. On the other hand, the equipment only commands replacement cost of 70% of its value. According to the appraiser, the equipment was designed using an old technology, thus, the lower replacement cost. Other assets and liabilities are valued fairly.How much is the book value per share of Halaga Corporation as of December 31, 2021? a. Php 0.24 b. Php 14.22 c.…
The following amounts were taken from the financial statements of Bramble Company: 2020 2019 Total assets $840000 $1020000 Net sales 770000 640000 Gross profit 353000 350000 Net income 200000 111000 Weighted average number of common shares outstanding 40000 88000 Market price of common stock $145.00 $36.00 The price-earnings ratio for 2020 is 5.00 times. 7.53 times. 31.00 times. 29.00 times.
Notes relating to the above Statements (pictures): i. The market value of the shares of the business at the end of the reporting period was £3.00 for 2019 and £2.00 for 2020. ii. All sales and purchases are made on credit. iii. At 1 April 2018, the trade receivables stood at £250 million and the trade payables at £210 million. iv. A dividend of £40 million had been paid to the shareholders in respect of each of the years. v. The business employed 14,000 staff at 31 March 2019 and 18,628 at 31 March 2020. vi. The business expanded its capacity during 2020 by setting up a new warehouse and distribution centre. vii. At 1 April 2018, the total of equity stood at £450 million and the total of equity and non-current liabilities stood at £650 million. Required Using the information from the given financial statements, statement of financial position (balance sheets) and income statement (profit & loss accounts) in page 3, calculate and interpret the following ratios for XYZ Plc for the…
Prepare the Cash Flow Statement for the year ended 31 December 2022 using info below The information given below was extracted from the accounting records of Excellence Limited Information from the Statement of Financial Position as at 2022 R 2021 R Ordinary share capital 750 000 580 000 Retained earnings 145 000 60 000 Property, plant and equipment (see note) 475 000 410 000 Investments 248 000 220 000 12.5% Debentures 125 000 120 000 Inventory 320 000 260 000 Trade debtors 57 000 67 500 Bank ? Prepaid expenses 15 500 2 500 Trade creditors 60 000 85 000 Bank overdraft 50 000 South African Revenue Services 25 000 40 000 Extract from the Statement of Comprehensive Income for the year ended 31 December 2022 Profit before interest and tax 342 000 Depreciation on equipment 25 000 Dividends received on investment 30 000 Interest on debentures 22 500…
Comparative statement of financial position of Alpha Sdn Bhd as at 31 December 2023 and 2022 are as following: 2023 2022 RM million RM million Cash at bank 108.5 50.4 Accounts receivable (less: provision for doubtful debts) 393.0 219.0 Inventories 84.0 134.4 585.5 403.8 Plant and equipment (NBV) 475.6 364.8 Investment in government securities 33.6 33.6 509.2 398.4 Total assets 1,094.7 802.2 Ordinary shares 530.0 290.0 180 million 10% Preference shares 180.0 180.0 Retained earnings 105.0 73.5 815.0 543.5 Accounts payable 205.9 197.8 Tax payable 15.0 10.0 Deferred taxation 37.8 50.9 10% Debentures 21.0…
Can you please help me prepare the Cash Flow Statement of Harmony Limited for the year ended 31 December 2020.
BnB Construction Inc.Balance Sheet (Millions of Dollars) Assets 2021 Est 2020 2019 Liabilities 2021 Est 2020 2019 Cash and Cash Equivalents 15 10 15 Accounts payable 115 60 30 Short-Term Investments 10 0 65 Overdrafts 115 110 60 Accounts Receivable 420 375 315 Accruals 260 140 130 Inventories 700 615 415 Total Current Liabilities 490 310 220 Total Current Assets 1145 1000 810 Long -Term Bonds and New Loan 1300 754 580 Net Plant and Equipment 1884 1190 870 Total Debt 1790 1064 800 Preferred Stock 40 40 40 Common Stock 130 130 130 Retained Earnings 1069 956 710 Total Common Equity 1199 1086 840 Total Assets 3029 2190 1680 Total Liabilities and Equity 3,029 2,190 1,680 Included is the Income Statement. Requirements: 1. Calculate the EPS, DPS, and BVPS, and Cash…
compute the amount of stock issuance for December 2019 assets 85000. liabilities 24000. net income 14000. cash dividends 0. December 2018 assets 60,000. liabilities 40,000
Comparative statement of financial position of Alpha Sdn Bhd as at 31 December 2023 Cash at bank Accounts receivable fless: provision for doubtful Inventories Plant and equipment (NBV) Investment in government securities Total assets Ordinary shares 180 million 10% Preference shares. Retained earnings Accounts payable Tax payable Deferred taxation 10% Debentures Sales Less: Cost of sales Gross profit Operating expenses Operating profit Investment income Profit before tax Taxation Profit after tax Interim dividend paid Profit attributable to members Additional information: I. II. III. Required: b. 2023 BM million a. Prepare the cash flow statement for Alp Show the reconciliation of profit before # # # # 84.00 585.50 33.60 509.20 1.094.70 # Income statement for the year ended 31 December 2023 105.00 815.00 205.90 15.00 37.80 21.00 RM million 860.00 560.00 300.00 224.40 75.60 9.00 84.60 18.80 65.80 34.30 31.50 RM 279.70 258.70 1,094.70 802.20 50.40 219.00 134.40 (26 marks) (14 marks)…
Cash Accounts receivable (net) Other current assets Investments Property, plant, and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings Blue Corporation Balance Sheets December 31 Net income 2025 $31,000 $21,000 51,000 95,000 60,000 500,000 $86,000 150,000 370,000 $737,000 $612,000 $81,000 325,000 176,000 $737,000 Blue Corporation Income Statements For the Years Ended December 31 Sales revenue Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses (including income taxes) 2024 46,000 100.000 2025 75,000 90,000 315,000 $745,000 41,000 704,000 430,000 2023 $19,000 49,000 126,000 114,000 $612,000 $545,000 69,000 2024 50,000 358,000 $545,000 $71,000 55,000 305,000 $605,000 31,000 574,000 355,000 219,000 151,000 274,000 181,000 $93,000 $68,000

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