Current Assets Current Liabilities Case 1 $ 75,000 $30,000
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- Determine the missing amount Assets Liabilities Equity Revenues Expenses 150,000 75,000 ? 15,000 10,000 115,000 25,000 65,000 ? 76,000Balance Sheet as at As at 30/9/16 As at 30/9/15 $ $ Assets Current assets- Cash 8,200 9,400 Accounts Receivable 107,000 103,500 Inventory 82,700 71,300 Non-current assets less accumulated depreciation 242,600 245,700 Total assets 440,500 429,900 Liabilities and Owners' equity Current liabilities 117,000 120,000 Loan (repayable in 2019) 152,000 150,000 Total liabilities 269,000 270,000 Owners' equity 171,500 159,900 Total Liabilities and Owners' equity 440,500 429,900 Summarised Income Statement of Bishan Enterprise for the year ended 30 September 2016 $ Sales 990,000 Cost of goods sold 580,000 Gross profit 410,000 Operating expenses 350,000 Net profit 60,000 · Note - The owner withdrew $48,400 during 2016. Required: Calculate…Determine the missing amount from each of the seperate situations given below. Assets = Liabilities + Equity = $94,000 + $29,000 $110,000 = $40,000 + $144,000 = + $62,000
- 1.Unclassified Balance Sheets December 31, 2018 and 2019 2018 2019 Cash 10,000 8,000 Accounts Receivable 26,500 22,500 Inventory 14,500 18,500 Prepaid Expenses 4,100 10,800 Equipment 255,000 310,000 Accumulated Depreciation 105,000 120,000 Total Assets 205,100 249,800 Current Liabilities: Accounts Payable 18,000 10,000 Accrued Expenses 2,100 2,000 Dividends Payable 5,000 7,300 Mortgage Payable(current) 5,000 20,000 Mortgage Payable(long-term) 75,000 80,000 Common Stock 50,000 70,000 Treasury Stock (20,000) (30,000) Retained Earnings 70,000 90,500 Total Liabilities and Owner’s Equity 205,100 249,800 1.Determine the net working capital on December 31, 2018. 2.Determine the net working capital on December 31, 2019. 3.Determine the euro and percentage change in net working capital from December 31, 2018 to December 31,…1.Unclassified Balance Sheets December 31, 2018 and 2019 2018 2019 Cash 10,000 8,000 Accounts Receivable 26,500 22,500 Inventory 14,500 18,500 Prepaid Expenses 4,100 10,800 Equipment 255,000 310,000 Accumulated Depreciation 105,000 120,000 Total Assets 205,100 249,800 Current Liabilities: Accounts Payable 18,000 10,000 Accrued Expenses 2,100 2,000 Dividends Payable 5,000 7,300 Mortgage Payable(current) 5,000 20,000 Mortgage Payable(long-term) 75,000 80,000 Common Stock 50,000 70,000 Treasury Stock (20,000) (30,000) Retained Earnings 70,000 90,500 Total Liabilities and Owner’s Equity 205,100 249,800 4.How much does the Molehill owe its stockholders at the end of 2019?7 5.What amount of existing debt must be paid during 2020?Accounting Advanced Accounting: Chap 1 HomeworkPip’s Paw Patrol had the following account Balances on Dec 31, 2021:BOOK Value FMVCurrent Assets $225,000 $250,000Land $320,000 $350,000Building $450,000 $650,000Accum Dep ($50,000)Equipment $195,000 $50,000Accum Dep ($100,000)Current Liabilities ($75,000) ($75,000)Bonds Payable ($200,000) ($300,000)Common Stock ($65,000)Paid in Capital ($700,000)Pip’s industry anticipates an 8% return on investments of P/E/P before accumulated depreciation andPip generated a $120,000 profit in 2021. Pip would like to be paid for 4 years of excess earnings.REQUIRED:a. Calculate the Goodwillb. Calculate the price
- Question 1 Complete the table below: Capital Assets Liabilties 100, 000 ? 20, 000 ? 250, 000 150, 000 85, 000 200, 000 ? ? 90, 000 35, 000The Balance Sheet Of Future Inc. for December 31,20Y3 and 20Y2 1 Dec. 31, 20Y3 Dec. 31, 20Y2 2 Assets 3 Cash $155,000.00 $150,000.00 4 Accounts receivable (net) 450,000.00 400,000.00 5 Inventories 770,000.00 750,000.00 6 Investments 0.00 100,000.00 7 Land 500,000.00 0.00 8 Equipment 1,400,000.00 1,200,000.00 9 Accumulated depreciation-equipment (600,000.00) (500,000.00) 10 Total assets $2,675,000.00 $2,100,000.00 11 Liabilities and Stockholders’ Equity 12 Accounts payable $340,000.00 $300,000.00 13 Accrued expenses payable 45,000.00 50,000.00 14 Dividends payable 30,000.00 25,000.00 15 Common stock, $4 par 700,000.00 600,000.00 16 Paid-in capital: Excess of issue price over par—common stock 200,000.00 175,000.00 17 Retained earnings 1,360,000.00 950,000.00 18 Total liabilities and…Advanced Accounting: Chap 1 HomeworkPip’s Paw Patrol had the following account Balances on Dec 31, 2021:BOOK Value FMVCurrent Assets $225,000 $250,000Land $320,000 $350,000Building $450,000 $650,000Accum Dep ($50,000)Equipment $195,000 $50,000Accum Dep ($100,000)Current Liabilities ($75,000) ($75,000)Bonds Payable ($200,000) ($300,000)Common Stock ($65,000)Paid in Capital ($700,000)Pip’s industry anticipates an 8% return on investments of P/E/P before accumulated depreciation andPip generated a $120,000 profit in 2021. Pip would like to be paid for 4 years of excess earnings.REQUIRED: a Record the purchase of the Pip Paw Patrol on the books of the BUYER, assume they issued100,000 shares of $2 par value common stock and paid $40,000 in legal and accounting fees and$50,000 in stock issuance costs to their broker.bRecord the sale of the company on the books of the sell
- Revenues $115,300$Enter a dollar amount. E Expenses Enter a dollar amount.A162,100 Net earnings 37,90081,300 Dividends declared Enter a dollar amount.B20,900 Retained earnings: Beginning of year 293,100293,100 End of year 319,200Enter a dollar amount.F Total assets: Beginning of year 403,500565,800 End of year Enter a dollar amount.C679,850 Total Liabilities: Beginning of year 9,500220,400 End of year 371,000247,900 Common shares: Beginning of year 100,90052,300 End of year 151,350Enter a dollar amount.G Proceeds from common shares issued during the year Enter a dollar amount.DEnter a dollar amount.HQuestion 1 The statement of comprehensive income and the statement of financial position disclosed relates to Jeffrey Ghana Limited. Jeffrey Ghana Limited Statement of Financial Position as at December 31, 2021 2020 2021 GH₵ GH₵ GH₵ GH₵ Non-current assets (cost) 300,000 380,000 Less Accumulated depreciation (60,000) 240,000 (45,000) 335,000 Investment 120,000 70,000 Current assets Inventory 96,000 100,000 Receivables 150,000 127,000 Bank 164,000 146,000 410,000 373,000 Total assets 770,000 778,000 Financed by: Stared capital 300,000 320,000 Income surplus 146,000 166,000 446,000 486,000 Non-current liability 10% Debenture 150,000 100,000 Current liabilities Payables 137,500 152,000 Taxation 36,500 40,000 174,000 192,000 Total…6.2 The following financial statements and additional information are reported. IKIBAN INCORPORATED Comparative Balance Sheets At June 30 2021 2020 Assets Cash $ 77,900 $ 60,000 Accounts receivable, net 89,000 67,000 Inventory 79,800 110,500 Prepaid expenses 6,000 8,600 Total current assets 252,700 246,100 Equipment 140,000 131,000 Accumulated depreciation—Equipment (35,000) (17,000) Total assets $ 357,700 $ 360,100 Liabilities and Equity Accounts payable $ 41,000 $ 54,000 Wages payable 7,600 18,200 Income taxes payable 5,000 7,000 Total current liabilities 53,600 79,200 Notes payable (long term) 33,200 76,000 Total liabilities 86,800 155,200 Equity Common stock, $5 par value 252,000 176,000 Retained earnings 18,900 28,900 Total liabilities and equity $ 357,700 $ 360,100 IKIBAN INCORPORATED Income Statement For Year Ended June 30, 2021 Sales $ 758,000 Cost of goods sold 427,000 Gross profit 331,000…