Use the following information for questions 2-9 Category 2016 2017 34,500 37,500 96,000 102,000 13,500 11,250 187,500 204,000 6,000 16,800 10,500 11,550 109,500 144,000 18,000 19,500 13,500 13,800 93,000 96,000 112,500 116,250 315,000 ??? 49,500 54,000 42,000 52,500 102,000 114,000 213,000 282,000 8,250 15,750 Accounts payable Accounts receivable Accruals Additional paid in capital Cash Common Stock @ par value COGS Depreciation expense Interest expense Inventories Long-term debt Net fixed assets Notes payable Operating expenses (excl. depr.) Retained earnings Sales Taxes Gross fixed assets in 2017. 1) increased by $38,250 O2) decreased by $52,650 3) increased by $50,250 4) increased by $49,250 O 5) decreased by $72,650 compared to 2016.

Use the following information for questions 2-9 Category 2016 2017 34,500 37,500 96,000 102,000 13,500 11,250 187,500 204,000 6,000 16,800 10,500 11,550 109,500 144,000 18,000 19,500 13,500 13,800 93,000 96,000 112,500 116,250 315,000 ??? 49,500 54,000 42,000 52,500 102,000 114,000 213,000 282,000 8,250 15,750 Accounts payable Accounts receivable Accruals Additional paid in capital Cash Common Stock @ par value COGS Depreciation expense Interest expense Inventories Long-term debt Net fixed assets Notes payable Operating expenses (excl. depr.) Retained earnings Sales Taxes Gross fixed assets in 2017. 1) increased by $38,250 O2) decreased by $52,650 3) increased by $50,250 4) increased by $49,250 O 5) decreased by $72,650 compared to 2016.

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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ACC610
Please rank the companies from greatest increase in net income between 2019 and 2020 to lowest increase in net income.
Year 2015 2016 2017 2018 Stock price Beginning $14.87 $20.73 $63.21 $71.69 End $20.73 $63.21 $71.69 $91.19
None
2020 (RM) 2019 (RM) 2018 (RM) Investment Income 45,335,069 13,237,244 19,474,895 Expenses -6,039,755 -2,270,688 -1,853,602 Net Income before taxation 39,295,314 10,966,556 14,621,293 Net Income after taxation 39,335,238 10,953,497 17,551,931 2020(RM) 2019 (RM) 2018 (RM) Total Investments 501,519,061 154,032,209 84,711,928 Other Assets 6,732,463 9,085,056 3,173,994 Total Assets 508,251,524 163,117,265 87,885,922 Total Liabilities -3,411,047 -2,276,421 -255,684 Number of Unit in Circulation 500,000,000 500,000,000 500,000,000 NAV/Unit Holder’s Capital per share 1. Based on the historical financial highlights extracted of statement of income and expenditure, calculate the Net Asset Value (NAV) per share of the respective funds?
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Depreciation for Partial Periods Malone Delivery Company purchased a new delivery truck for $45,000 on April 1, 2019. The truck is expected to have a service life of 10 years or 180,000 miles and a residual value of $3,000. The truck was driven 8,000 miles in 2019 and 14,000 miles in 2020. Malone computes depreciation expense to the nearest whole month. Required: 1. Compute depreciation expense for 2019 and 2020 using the following methods: (Round your answers to the nearest dollar.) a. Straight-line method 2019 2020 2019 b. Sum-of-the-years'-digits 2019 186 X 2020 $ c. Double-declining-balance method. $ tA 2020 d. Activity method 2019 $ 2019 326 X 2020 method 3,782 X 6,846 X 9,000 X $ 7,200 X 2020 $ 3,500 X 2. For each method, what is the book value of the machine at the end of 2019? At the end of 2020? (Round your answers to the nearest dollar.) a. Straight-line method 44,814 X $ 44,488 X b. Sum-of-the-years'-digits method 2,000 X
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Problem 2: Trody Co., from the previous problem, wants to prepare forecasted financial statements for the year 2015 using the percent of sales method, and the below additional given (Round numbers to the nearest dollar): Given forecasted sales of 2015: $6,500 b- The tax rate will be 40% in 2015. The company expected to distribute dividends of $750 in 2015. The interest rate on all interest-bearing loans will be 5% annually in 2015. The company is not intending to make changes to its fixed assets a- C- d- e- 1- The forecasted cost of goods sold for 2015 is expected to be: O a) $3,300 Ob) $3,738 c) $3,000 d) $4,250 e) None of the above. 2- Forecasted fixed expenses amount for 2015 is expected to ber
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Statement of Profit or Loss for Guinness Ghana Ltd 2019 GH¢’000 2018 GH¢’000 2017 GH¢’000 Revenue from contracts with customers 684,979 623,102 587,447 Cost of sales (511,023) (464,781) (437,111) Gross profit 173,956 158,321 150,336 Advertising and marketing expenses (16,324) (21,773) (36,826) Administrative expenses (93,348) (76,491) (61,406) Other expenses (13,292) (8,876) (10,859) Impairment charges on financial assets (1,110) - - Other income 1,284 612 Profit from operating expenses 49,882 52,465 41,857 Finance income 2,245 2,357 443 Finance cost (19,579) (19,392) (30,724) Profit before income tax 32,548 35,430 11,576 Income tax expense (12,938) (9,226) (4,662) National fiscal stabilisation levy (1,564) (2,349) - Profit for the year 18,046 23,855 6,914 Other comprehensive income Items that are not subsequently…