Based on this data, explain if and under what conditions at the end of the year the profit of the period will be equal to the cash in the company's coffers. Give two or three examples to justify your answer.

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Q: The company's net income for the year was $3,400 and its cash dividends were $1,200. It did not sell…

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Q: For the past two years, Monroe Corporation’s statement of cash flows has shown net cash provided by…

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Q: Below are transactions that took place in Placid Company during the past year:a. Equipment was…

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Q: Blue Fin started the current year with assets of $715,000, liabilities of $357,500 and common stock…

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Q: Given the following situation, Please classify into Current assets, Non-current assets, current…

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Q: Parducho had a P500,000 capital balance and Burgos had a P750,000 capital balance at the beginning…

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Q: Bishop, Incorporated, is obligated to pay its creditors $7,000 during the year. a. What is the…

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Q: On May 1, Year 3, Love Corporation declared a $50,000 cash dividend to be paid on May 31 to…

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Q: At the beginning of the year, Alex's Electronic Inc. had long-term debt of $280 and total debt of…

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Q: During the current year, the owners of A & J Industrial Supply Company invested $100,000 and…

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Q: On January 1, A, B and C has beginning balances of P30,000, P20,000 and P40,000, respectively. A…

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Q: The Owner's Capital has a beginning balance of P500,545. The owner gave P500,000 additional…

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Q: Baka's Retained Earnings balance increased by P100,000 during the year. Baka also paid P30,000 in…

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Q: At the beginning of the year, the balance sheet of The Outlet showed $8 in the common stock account…

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Q: Jones Industries received $800,000 from issuing shares of its common stock and $700,000 from issuing…

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Q: A company's Income Tax Payable account decreased from $22 million to $21 million during the year. If…

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Q: A company's Income Tax Payable account decreased from $22 million to $20 million during the year. If…

A: The cash flow statement is prepared to record the cash flow from various activities during the…

Q: Rousey, Incorporated, had a cash flow to creditors of $16,740 and a cash flow to stockholders of…

A: Data given: Cash flow to creditors = $16,740 Cash flow to stockholders = $7,244 Net fixed assets at…

Q: The net income of Edwards Corporation amounted to​ $65,000 for this year. The beginning balance of​…

A: Equity can be define as the portion of amount which belongs to the shareholders or owners of the…

Q: The beginning capital balance shown on FDNACCT’s Statement of Changes in Owner’s Equity is P67,000.…

A: Owner’s Equity at the year end = P67,000 + P25,000 - P44,000 + P45,000 = P93,000

Q: TSW Inc. had the following data for last year: Net income = $850; Net operating profit after taxes…

A: Free cash flow = Net operating profit after taxes - Increase in Total operating capital

Q: b. What is the change in net working capital for year t? Change in net working capital c. In year…

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Q: A firm had after-tax income last year of $2.1 million. Its depreciation expenses were $0.5 million,…

A:

Q: Compute the year-end retained earnings balance.

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Q: At the start of its most recent financial year the owner's equity in a business was £25,960. At the…

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Q: The company has assets equal to 6,150,000 and liabilities equal to 2,650,000. Before the year ended…

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Q: the year? — $980,000 Question: If the total liabilities decreased by $25,000 during a period and…

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Q: The management of Sheridan Company is trying to decide whether it can increase its dividend. During…

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Q: At the start of the year, Noel's time deposit has a balance of P250,000, At the end of the year, the…

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Q: The management of Russel Ltd. is trying to decide whether it can increase its dividend. During the…

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Q: In Year 1, Lee Incorporated billed its customers $56,300 for services performed. The company…

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Q: A business's bank balance increased by $750,000 during its last financial year. During the same…

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Q: On November 1 of the current year, Rob Elliot invested $30,000 of his cash to form a corporation,…

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Q: The management of Morrow Inc. is trying to decide whether it can increase its dividend. During the…

A: Free cash flow = Net cash provided by operating activities - Capital expenditures - Dividend paid

Q: that had an original cost of $13 million and accumulated depreciation of $8 million. The cash…

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Q: Cash dividends of $80,000 were declared during the year. Cash dividends payable were $25,000 at the…

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Q: A company had the following assets and liabilities at the beginning and end of this year.…

A: Lets understand the basics. As per accounting equation or balance sheet equation, total assets is…

Q: A corporation had the following assets and liabilities at the beginning and end of this year. Assets…

A: Ending balance of equity can be calculated by adding up net income and deducting dividends from the…

Q: The Owner's Capital has a beginning balance of P500,545. The owner gave P300,000 additional…

A: The fund invested by the owner in the business is known as Owner's Equity. Ending Owners' capital =…

Q: Black Company has beginning total assets of P200 million and ending liabilities of P110 million.…

A: An owner does withdraw from the business for personal use.

Contingent Liabilities and Provisions

A contingent liability can be defined as a liability the occurrence of which is dependent upon the happening of an uncertain future event. It is generally recorded in the books only when the amount of liability can be reasonably estimated and the contingency is likely to occur shortly.