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Explain the income statement.

ACE Limited has the following results for the 15 months to 31 December 2021: £ Adjusted trading profit, before deduction of capital allowances 1,500,000 Capital allowances claimed: Year to 30 September 2021 312,650 3 months to 31 Dec 2021 40,210 Capital gains/loss Disposal 12 May 2021 (Gain) 15,586 Disposal 6 October 2021 (loss) (12,692) Building society interest: Received 31 December 2020 3,500 Received 31 December 2021 4,000 UK dividend received on 25 November 2021 10,000 Accrued building society interest was £2,000 on 30 September 2020, £4,000 on 30 September 2021 and £2,000 on 31 December 2021. Required: Compute the company’s total corporation tax liability for the 15-month period.

year. investment g amount of P8,000,000. ahares of Beta Company an Beta' Company had 80,000 amount and fair valus of 3 600,000 and P3,900,000 mid per-share dividend of . Compute the carrying amount of the investment at year-end. aount of the Problem 17-7 (ACP) On January 1, 2016, Bypass Company acquired as n long term investment for P7,000,000 a 40% interent in an investee when the fair value of the net'assets was P17,500,000. The investee reported the following net losses: broadcas 2016 2017 2018 2019 5,000,000 7,000,000 8,000,000 4,000,000 attributable to a On January 1, 2018, Bypass Company made cash advances of P2,000,000 to the investee. On December 31, 2019, it is not expected that Bypass Company will provide further financial support for the investee. Company has a 20-year broadcast license. 019. 20. he investment in Required: Prepare journal entries from 2016 to 2019 in relation to the investment in associate.

6. Cap Corp. reported accrued investment interest receivable of P38,000 and P46,500 at January 1 and December 31, 2003, respectively. During 2003, cash collections from the investments included the following: Capital gains distributions 145,000 Interest 152,000 What amount should Cap report as interest revenue from investments for 2003? b. 153,500 с. 1522000 d. 143,500 a. 160,500 (AICPA)

The following table reports (in millions) earnings, dividends, capital expenditures, and R&D for Intel for the period 1990–95:   Capital YearNet IncomeDividendsExpendituresR&D1990$650$0$680$5171991819094861819921,067431,22878019932,295881,93397019942,2881002,4411,11119953,5661333,5501,296What are the dividend payout rates for Intel during these years? Is this payout policy consistent with the factors expected to drive dividend policy, as discussed in the chapter? What factors do you expect would lead Intel’s management to increase its dividend payout? How do you expect the stock market to react to such a decision?   

Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 428,571.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 54,035.00 Interest expense 40,500 42,155.00 Inventories 279,000 288,000 Long-term debt 339,577.00 401,377.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 162,171.00 Retained earnings 306,000 342,000 Sales 639,000 849,094.00 Taxes 24,750 47,192.00 What is the current year's entry for long-term debt on a common-sized balance sheet? (ROUND TO 4 DECIMAL PLACES.)

The following is from the 2024 annual report of Kaufman Chemicals, Incorporated: Statements of Comprehensive Income Years Ended December 31 2024 2023 2022 Net income $ 900 $ 730 $ 585 Other comprehensive income: Change in net unrealized gains on AFS investments, net of tax of $23, ($20), and $20 in 2024, 2023, and 2022, respectively 35 (28) 28 Other (1) (2) 1 Total comprehensive income $ 934 $ 700 $ 614 Kaufman reports accumulated other comprehensive income in its balance sheet as a component of shareholders' equity as follows: ($ in millions) 2024 2023 Shareholders’ equity: Common stock $ 350 $ 350 Additional paid-in capital 8,575 8,575 Retained earnings 7,655 7,099 Accumulated other comprehensive income 114 80 Total shareholders’ equity $ 16,694 $ 16,104 Required: 3. From the information provided, determine how Kaufman calculated the $114 million accumulated other comprehensive income in 2024.

From the following information for BlueInks Corporation, compute the rate of return on assets. Hint: The numerator is income before interest expense and taxes.  Net income $40,878 Total assets at beginning of year $250,100 Total assets at end of year $158,680 a. 15% b. 25% c. 16% d. 20%

Powell Panther Corporatlon: Income Statements for Year Ending December 31 (millons of dollars) 2021 2020 Sales 2,185.0 S 1,900.0 Operating costs excluding depreciation and amortization 1,748.0 1,615.0 EBITDA 437.0 S 285.0 Depreciation and amortization 46.0 42.0 Earnings before interest and taxes (EBIT) 391.0 S 243.0 Interest 48.1 41.8 Earnings before taxes (EBT) 342.9 S 201.2 Taxes (25%) 137.2 80.5 Net income 205.7 S 120.7 Common dividends 185.1 S 96.6 Powell Panther Corporatlon: Balance Sheets as of December 31 (mllons of dollars) 2021 2020 Assets Cash and equivalents 34.0 $ 27.0 Accounts receivable 251.0 228.0 Inventories 502.0 456.0 Total current assets 787.0 $ 711.0 Net plant and equipment 460.0 418.0 Total assets 1,247.0 S 1,129.0 Liabilities and Equity Accounts payable 219.0 $ 190.0 Accruals 137.0 114.0 Notes payable 43.7 38.0 Total current liabilities 399.7 342.0 Long-term bonds 437.0 380.0 Total liabilities 836.7 $ 722.0 Common stock 353.5 370.8 Retained earnings 56.8 36.2…

Prepare Extracts of INVESTING and FINANCING Activities.

Category. Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 429,735.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 55,152.00 Interest expense 40,500 42,662.00 Inventories 279,000 288,000 Long-term debt 339,349.00 400,985.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 161,641.00 Retained earnings 306,000 342,000 Sales 639,000 848,846.00 Тахes 24,750 47,931.00

Category Prior Year Current Year Accounts payable ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 431,516.41 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 55,946.66 Interest expense 40,500 41,874.31 Inventories 279,000 288,000 Long-term debt 336,467.85 401,942.46 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 161,499.58 Retained earnings 306,000 342,000 Sales 639,000 854,554.01 Taxes 24,750 48,384.56 ??? What is the current year's return on equity (ROE)? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign re rounded to 4 decimal places (ex: 0.0924))

Below are the financial data of XYZ Company, a not-for-profit entity for month of June, 2017.Cash – P2,500,300Accounts Receivable – P500,600Long-Term Investment – P1,500,000Plant, Property and Equipment – P5,600,000Accounts Payable – P350,600Notes Payable – P500,500Permanent Restricted Net Assets – 5% of Total Net AssetsTemporary Restricted Net Assets – 15% of Total Net AssetsTransactions for the month of July, 2017 Receive a car worth – P300,000 but treated as temporary restricted net assets Partial payment of accounts payable – P50,600 Issued a promissory notes worth – P150,500 Paid the salary of employees – P15,250 Reclassify 5% of May, 2017 temporary restricted net assets to unrestricted net assets.  Compute the balance of unrestricted net assets as of July, 2017 a. 7,453,963.50 b. 7.453,963 c. 7,453,962.50 d. 7,453,964 Compute the balance of total assets as of July, 2017 a. 10,485,550 b. 10,485,500 c. 10,486,550 d. 10,487,550

Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 431,139.00 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 54,349.00 Interest expense 40,500 41,741.00 Inventories 279,000 288,000 Long-term debt 337,728.00 398,725.00 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 162,280.00 Retained earnings 306,000 342,000 Sales 639,000 847,106.00 Taxes 24,750 48,618.00 What is the current year's return on assets (ROA)? (Round to 4 decimal places.)

Income statement 2018 ( Mkr ) Revenue 95840 Operating expenses -94870 Operating profit 970 Interest income 50 Interest expenses -1550 Profit before tax -530 Tax 0 Net result -530     Balance sheet 20181231 ( Mkr)   Total assets 65690 Equity 2910 Loan 25740 Non-interest bearing Liabilities 37040 Let us first study some financial key figures: a) What capital turnover rate did Thomas Cook create in 2018?ggr b) What was the debt / equity ratio of Thomas Cook 20181231?ggr c) What return on equity (RE) after tax did the company create in 2018?% Let us now assume that we are at the last board meeting in December 2018 and that financial targets for 2019 are discussed. Any profitability targets are set on opening balances for 2019. The Board (owners) are concerned about the financial balance and want an increase in the equity / assets ratio by one percentage point. The goal is expected to be reached in 20191231. However, the…

10. An investment entity provided the following data for the current year: Dividend income from investments 10,000,000Distribution income from trusts 500,000Interest income on deposits 700,000Income from bank treasury bills 100,000Income from dealing in securities held for trading 600,000Write-down on securities held for trading 150,000Other income 250,000Finance cost 300,000Administrative staff costs 3,800,000Sundry administrative costs 1,400,000Income tax expense 2,000,000Question 1: What is the income before tax?a. 12,000,000 c. 11,750,000b. 12,150,000 d. 11,550,000 Question 2: What is the total amount of expenses before tax?a. 7,500,000 c. 5,500,000b. 5,650,000 d. 7,650,000 Question 3: What is the net income for the year?a. 6,500,000 c. 4,650,000b. 4,500,000 d. 4,250,000

Statement of financial position balances as at 31 December 20X8 and 20 x 9 are provided below for Laurel Inc. Laurel Inc. additional information: Net earnings for 20x9 were $714,000. Equipment with an original cost of $404,000 and a NBV of $ 152,000 was sold for $152,000 during the year. Long-term investments were sold for $137,000 during the year. Short-term investments acquired are treasury bills with an original term of three months. Required: Prepare an SCF for 20x 9 using the indirect method. Note any assumptions made during your SCF preparation. (Deductible amounts and Cash outflows should be indicated with minus sign.) Laurel Inc. Statement of Cash Flows For the year ended 31 December 20 X9 \table[[\table[[Operating activities:], [ Net earninas]]],[Net earnings, Øs, 714,000,], [Adjustments for non-cash items:...]. [Depreciation expense, 0 254,000,]. [Amortization of patent,var ? €, 17,000,], [Gain on sale of long-term investment,diamond,(35,000), ], [Change in cash,..].…

The extracts of the financial statements of Laki Project Specialists Limited for 2018 are provided below: Extract of the Statement of Comprehensive Income for the year ended 31 December 2018 R   Revenue (credit) 988 000 Less purchases 400 000 Gross profit 560 000 Less Operating expenses 160 000 Operating profit 400 000 Less interest expense 70 000 Profit before tax 330 000 Profit after tax 280 000   Extract of Statement of Financial Position as at 31 December 2018 R   Non-current assets 1 140 000 Inventories 266 000 Debtors 300 000 Bank 220 000 Total assets 1 926 000     Ordinary share capital 1 000 000 Retained earnings 482 000 Non-current liabilities 240 000 Creditors 215 000 Total liabilities 1 926 000   Required:   Calculate the following ratios for 2018. Where applicable, answers must be rounded off to two decimal places. Profit margin  Interest cover  Debtors…

Return on total assets ratio: net income/ average total assets 21,331/(321,195+225,248)/2= 0.07807= 7.8% (2020 year) 11588/(162,648+225,248)/2= 0.059= 6.0% (2019 year) Write financial analysis report.

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n its December 31 year-end financial statements, Davidson reported the following (in millions): Long-term Assets Current Liabilities Long-term Liabilities Total Liabilities Equity $4,829 $2,290 $4,086 $6,376 $1,536 At December 31, current assets amount to: Select one: a. $2,290 million b. None of these are correct. c. $1,547 million d. $3,083 million e. $5,622 million

Saved -ading Assessment i The following information was drawn from the accounting records of Woo Company. Current assets $ 73,000 Long-term assets (Plant assets) 730,000 Current liabilities 59,000 Long-term liabilities Stockholders' Equity 480,000 605,000 Earnings before interest and taxes 79,000 Interest expense 34,000 Based on this information, the company's debt to equity ratio is: (Round your answer to two decimal places.) Multiple Choice 0.89 to 1 0.97 to 1 0,67 to 1 MacBook Air 吕0 888 DI DD F2 F3 F4 F5 F6 F7 F8 F9 @ $ 2 4 6. 7 W Y * CO < CO *3 **

The financial statements for Campbell, Inc., and Newton Company for the year ended December 31, 2021, prior to the business combination whereby Campbell acquired Newton, are as follows (in thousands): Campbell $2,600 Newton Revenues $ 700 Expenses 1,880 400 Net income 720 $ 300 Retained earnings, 1/1 $2,400 $ 500 Net income 720 300 Dividends (270) Retained earning, 12/31 $2,850 2$ 800 Cash $ 240 $ 230 Receivables and inventory Buildings (net) Equipment (net) 1,200 360 2,700 650 2,100 1,300 Total assets $6,240 $2,540 Liabilities $1,500 $ 720 Common stock 1,080 400 Additional paid-in capital Retained earnings 810 620 2,850 800 Total liabilities & stockholders' equity $6,240 $2,540 On December 31, 2021, Campbell obtained a loan for $650 and used the proceeds, along with the transfer of 35 shares of its $10 par value common stock, in exchange for all of Newton's common stock. At the time of the transaction, Campbell's common stock had a fair value of $40 per share. In connection with the…

An entity reported the following changes in the statement of financial position accounts for the current year:   Increase (Decrease) Cash and cash equivalents 1,100,000 Trading securities 2,500,000 Accounts receivable, net of allowance 1,000,000 Inventory (1,800,000) Property, plant and equipment 4,000,000 Accumulated depreciation 500,000 Patent (700,000) Investment in associate – 20% interest 400,000   6,000,000     Accounts payable 300,000 Note payable – bank (1,500,000) Bonds payable 3,000,000 Deferred tax liability 200,000 Share capital 3,000,000 Share premium 500,000 Treasury shares 500,000 Retained earnings 1,000,000   6,000,000   The net income for the current year was P6,000,000 Cash dividend paid at year-end amounted to P5,000,000  During the current year, the entity purchased trading securities   for P3,000,000 cash and sold trading securities costing…

Apex Inc. reports the following for a recent year: Income from continuing operations before income tax expense $1,000,000   Loss from discontinued operations $240,000*   Weighted average number of shares outstanding 20,000   Applicable tax rate 40%   *Net of any tax effect.     Question Content Area a.  Prepare a partial income statement for Apex Inc., beginning with income from continuing operations before income tax expense. Apex Inc.Partial Income StatementFor the Year Ended December 31                                                            Question Content Area b.  Determine the earnings per common share for Apex Inc., including per-share amounts for unusual items. Apex Inc.Partial Income StatementFor the Year Ended December 31 Earnings per common share:     $                         $

Meman

WHAT IS THE TOTAL LEGAL CAPITAL?

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