AssetsCashAccounts receivableInventoryPrepaid expensesTotal current assetsComparative Balance Sheetat December 31Property, plant, and equipmentLess accumulated depreciationNet property, plant, and equipmentLong-term investmentsTotal assetsLiabilities and Stockholders' EquityAccounts payableAccrued liabilitiesIncome taxes payableTotal current liabilitiesBonds payableTotal liabilitiesCommon stockRetained earningsTotal stockholders' equityTotal liabilities and stockholders' equityWeaver CompanyIncome StatementFor This Year Ended December 31SalesCost of goods soldGross marginSelling and administrative expensesNet operating incomeNonoperating items:Gain on sale of investmentsLoss on sale of equipmentIncome before taxesIncome taxesNet income$6(2)This Year$152941528469513(80)43325$927$ 3027272446199645161121282$ 9277554473082228649024$ 66Last Year$ 122281955440434(72)36232$ 834$ 226776536817053820195296$ 834 During this year, Weaver sold some equipment for $18 that had cost $30 and on which there was accumulateddepreciation of $10. In addition, the company sold long-term investments for $13 that had cost $7 when purchased severalyears ago. Weaver paid a cash dividend this year and the company repurchased $40 of its own stock. This year Weaverdid not retire any bonds.Required:1. Using the indirect method, determine the net cash provided by/used in operating activities for this year. (List any deduction in cashand cash outflows as negative amounts.)Weaver CompanyStatement of Cash Flows-Indirect Method (partial)

A cash flow statement is a financial document that shows the inflow and outflow of cash for a…

During this year, Weaver sold some equipment for $18 that had cost $30 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $13 that had cost $7 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $40 of its own stock. This year Weaver did not retire any bonds. Required: 1. Using the indirect method, determine the net cash provided by/used in operating activities for this year. (List any deduction in cash and cash outflows as negative amounts.) Weaver Company Statement of Cash Flows-Indirect Method (partial)

During this year, Weaver sold some equipment for $18 that had cost $30 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $13 that had cost $7 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $40 of its own stock. This year Weaver did not retire any bonds. Required: 1. Using the indirect method, determine the net cash provided by/used in operating activities for this year. (List any deduction in cash and cash outflows as negative amounts.) Weaver Company Statement of Cash Flows-Indirect Method (partial)

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter6: Investing And Financing Activities

Section: Chapter Questions

Problem 1M

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Hi pls, make income statement, statement of retained earnings, and ending trial balance. Trial balances (amount in Php) Particulars Debit amount Credit amount Accounts payable Accounts receivable Share capital, common stock Cash Notes payable Property, plant and equipment Accumulated depreciation Allowances for doubtful debts Inventories Prepaid expense Goodwill Estimated tax liability Marketable securities Accrued expense Patents and trademarks Bonds payable Investments Deferred revenue Other liabilities(long term) Retained earnings - 4325 - 11660 - 6200 - - 1750 1250 100 - 1750 - 500 - 1500 - - - 1965 - 9990 - 800 - 3100 540 - - - 750 - 1000 - 2000 - 1650 1000 6240 29035 29035
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Question 1The following information was extracted from the financial statement of Barryfor the year ended 31 December 2020. RMSales 437,500Opening inventories 17,500Closing inventories 26,250Cost of sales 262,500Other income 3,750Expenses 61,250Current liabilities 47,250Trade receivables 39,375Bank 8,750Cash 31,500Required:(a) Show the formulae and compute the value of the following for Barry:(i) Purchases(ii) Gross profit(iii)Net Profit
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