IS. 51 Year 2 (Rs. 1,00,000 2,00,000 40,000 1,00,000 1,40,000 25,000 19. 2073 SetDQ.No. 16 Following information are given: Particulars Inventories Debtors General reserve Creditors Cash Year 1 (Rs.) 80,000 2,50,000 20,000 70,000 1,00,000 20,000 Expenses payable Additional Information: Profit of the year: Rs. 80,000 i. Provision for tax: Rs. 10,000 Required: ii. Depreciation on fixed assets: Rs. 20,000 iv. Profit on sales of fixed assets: Rs. 5,000 a. Schedule of changes in working capital b. Funds from
Q: Find earnings per share 2019. i atteched income statement and balance sheet
A: Earnings per share: Earnings per share is a profit earned per share for outstanding number of…
Q: DUX COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) 2021 2020…
A: A cash flow statement is a financial statement that shows all the inflows and outflows of cash.
Q: y 1 is P300,000; Uncollectible accounts written off is P20,000; and accounts receivable at December…
A: Financial Statements can be prepared either on accrual basis of accounting or cash basis. In accrual…
Q: Debits Credits Cash 261,400 Taxes Receivable – Current 888,500 62,000 325,700 15,900 Estimated…
A: Working Note: 1. Budgetary fund balance A/c = Appropriation A/c - To Estimated Revenue A/c =…
Q: Item Prior year Current year Accounts payable 8,191.00 7,813.00 Accounts receivable 6,005.00…
A: Balance sheet shows the assets, liabilities and shareholders equity of the company during the…
Q: What is the net cash from operating activities for the year ended December 31, 20X6? a) $30,120 b)…
A: Cash flow from Operating Activities is a part of cash flow statement which shows the inflows and…
Q: 38,410 (17.000) 44,650 (22.630) Less : Drawings 21,410 22,020 Non-current Liabilities Loan from Jon…
A: Cash flow statement is a statement which is prepared to find out the cash comes in and goes out , by…
Q: Item Prior year Current year Accounts payable 8,198.00 7,775.00 Accounts receivable 6,030.00…
A: In the Given question we require to calculate the firm's total changes in cash from the prior year…
Q: 28. What Is the total amount of cash recelved from the financing of accounts recelvable during the…
A: Bad debts: Bad debts can be defined as those account receivables which company expects to be…
Q: 17. Gross income $450,0003; Expenses $200,000; Loan Payment = $23,740; Loan Interest Paid $6,000;…
A: Gross income = $ 450,000 Expenses = $ 200,000 Loan payment = $ 23,740 Loan interest paid = $ 6,000…
Q: Item Prior year Current year Accounts payable 8,101.00 7,904.00 Accounts receivable 6,019.00…
A: Change in cash: It is the difference between the prior years and current year when the current cash…
Q: What is the firm's cash flow from financing?
A: Cash Flow from Financing Activities Cash Flow from Financing Activities is the net amount of funding…
Q: Category Prior year Current year Accounts payable 41,400 45,000 Accounts receivable 115,200 122,400…
A: ROE=NET INCOMEEQUITY
Q: Balance sheet 2018 201구 12016 cash cash. Short term inestments net recievables invertory prepaid…
A: Current ratio = Current assets/Current liabilities
Q: 3. What amount should be reported as cash balance at year-end? a. 3,400,000 b. 1,600,000 c.…
A: Statement of cash flow (CFS) refers to a financial statement of the company which shows the flows of…
Q: Cash Accounts Receivable Inventory Land Building Total Note Payable C, Capital F, Capital Total…
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: Less : Drawings 38,410 (17,000) 44,650 (22.630) 21,410 22,020 Non-current Liabilities Loan from Jon…
A: The following computations are done for DiDi Sdn Bhd.
Q: Mahal Mo Co. reported revenue of P3,100,000 in its accrual basis income statement for the year ended…
A: To calculate sales under cash basis from sales under accrual basis we will prepare account…
Q: From the following list of accounts, calculate the quick…
A:
Q: Cash Non-Cash assets PO 85,000 P 85,000 Total Assets Liabilities Loan payable to Partrer F Loan…
A: As you have posted multiple questions, we are answering first two questions related to case 1.…
Q: 18. Using the information in MC 17, under accrual basis, what amount should be reported as gross…
A: Accrual basis of accounting says that all expenses incurred in the particular period shoul be…
Q: What is the firm's total change in cash from the prior year to the current year?
A: Cash: Cash is an asset that is shown in the balance sheet under current assets. Income statement: An…
Q: Accounts Payable Accrued income Unearned income P60,000 ev15,000 10,000 402,000 E. Bryan, Capital
A: Assets represent the resources that are owned and controlled by the company that has to be…
Q: Category Prior Year Current Year Accounts payable 3,134.00 5,904.00 Accounts receivable 6,978.00…
A: Cash flow statement shows cash flows from three activities i.e. operating activities, investment…
Q: particulars Amount Net cash provided $700,000 Average current liabilities $200,000 verage long term…
A: The cash available for the firm to repay creditors and pay dividends and interest to investors is…
Q: 0, yielding a $4,300 gain. e. Prepaid Expenses and Wages Payable relate to Operating Expenses on the…
A: Statement of cash flows is one of the financial statement of the business which shows all cash…
Q: 15) The following financial information is from ABC:Accounts Payable $15,000Buildings 80,000Cash…
A: Current assets are the assets from which the business expects to derive economic benefits within one…
Q: 3. Accounting for CASH Company insured the lif P2,000,000, the entity E beneficiary. The annual…
A: Usually, Companies insure the life of key managerial personnel for which premium is paid by the…
Q: Cash Budget Analysis A cash budget, by quarters, is given below for a retail company (000 omitted).…
A: Cash budget refers to the budget which contains the document that is produced to help the business…
Q: Income tac was $300,409 for the year. Income tac payable was $28,102 and $42,997 at the beginning…
A: Income tax: Tax paid on income earned in a period is called income tax. Income tax is an expense for…
Q: 38,410 Less : Drawings 44,650 (22,630) (17.000) 21,410 22,020 Non-current Liabilities Loan from Jon…
A: Cash flow statement is a statement which is prepared to find out the cash comes in and goes out , by…
Q: "repare Balance sheet of Mr. Vengo for the year 31 Decembe Particulars Particulars Capital Amount…
A: Balance Sheet: The balance sheet is a statement that shows the financial position of the business.…
Q: What is the cash balance at December 31, 2021? * G Na Format: 111,111 NUBD Company had the following…
A: Solution : Statement showing cash balance at December 31 , 2021 Sales (90% of 1,500,000)…
Q: Prepare the cash flow from financing activities from the above information and give reasons for each…
A: Cashflow Statement show the inflow and outflow of cash from different Activities. 1. OPERATING…
Q: Accounts payable 8,193.00 7,858.00 Accounts receivable 6,044.00 6,592.00 Accruals 1,021.00 1,379.00…
A: The cash flow from investing activities includes cash flow due to sale or purchase of fixed assets.
Q: Item Prior year Current year Accounts payable 8,123.00 7,716.00 Accounts receivable 6,048.00…
A: Cash flow referred as the net value of cash and cash equivalent transferred as in and out of…
Q: 19. Ebasan Company have the following account balances: Cash (net of overdraft of P100,000) Accounts…
A: The liabilities are the amount due to be paid to the creditors or suppliers of the business. The…
Q: 38,410 44,650 Less : Drawings (17.000) [22.630 21,410 22,020 Non-current Liabilitios Loan from Jon…
A: Particulars RM RM Net Income as per Statement of Profit & Loss 23240 Less: Non- operating…
Q: 38,410 Less : Drawings 44,650 (22.630) (17.000) 21,410 22,020 |Non-current Liabilities Loan from Jon…
A: Cash flow statement is a statement which is prepared to find out the cash comes in and goes out , by…
Q: receipts from repayment of loan made to another entity payments for wages and other operating…
A: Statement of cash flows: The statement of cash flows records all the sources and use of the cash in…
Q: urf Company follows IFRS for its external financial reporting. The following amounts were available…
A: >Financing activities section of Statement of Cash Flow includes details of cash inflow and cash…
Q: 1.Refer to the image, The cash received for interest during 2020 was The income statement of Carsen…
A: Cash paid for expenses during the year: Depreciation, the most major non-cash expenditure reported,…
Q: 38,410 (17.000) 44,650 (22.630) Less: Drawings 21,410 22,020 Non-current Liabilities Loan from Jon…
A: Cash flow statement is a statement which is prepared to find out the cash comes in and goes out , by…
Q: Item Prior year Current year Accounts payable 8,100.00 7,786.00 Accounts receivable 6,081.00…
A: Indirect method of cash flow statement involves a reconciliation from profit before tax, adjusting…
Q: Cash $ 140.0 Accounts payable $ 800 .0 Accts. receivable 880 .0 Notes payable 600.0 Inventories…
A: The following equations to be used to solved this problem 5. EBITDA Coverage ratio =(EBIT +…
Q: Item Prior year Current year Accounts payable 8,118.00 7,921.00 Accounts receivable 6,037.00…
A: Statement of Cash Flows Cash Flow from Financing Activities Issue of Common…
Q: Q4 Corporation financial statements at December 31 (în millions) ASSETS Cash Accounts receivable…
A: In the given question, we are given the Financial Statement for December 31, 2019, and we are…
Q: Cash R10 000 Accounts receivable(debtors control) R30 000 Inventory R80 000 Prepaid insurance…
A: The current ratio is calculated as Current AssetsCurrent Liabilities
Q: pe naut geh PROBLEMS 1. What is the year-end balance if the cash basis of accounting is used? What…
A: Cash Basis Accounting In cash basis accounting, Sales are recognized only when cash is received…
Step by step
Solved in 3 steps with 2 images
- The following information relates to Samson Engineering as at 30 June 2023: RProfit for the year180 000Drawings50 000Property920 000Long-term borrowings510 000Trade receivables380 000Plant and machinery250 000Trade payables180 000Short-term borrowings260 000Fixtures and fittings90 000Inventories420 000Equity at 1 July 20221 175 000Cash45 000Motor vehicles150 000 RequiredCalculate the following:The total non-current assets The total current assetsThe total assetsThe following information pertains to Yoyo Projects for the three months ended 31 May 2020:ActualBudgetedMarchRAprilRMayRRevenue (20% for cash and 80% on credit)360 000380 000400 000Purchases (10% for cash 90% on credit)240 000280 000320 000Salaries and wages paid40 00060 00060 000Cash expenses24 00028 00032 000Depreciation2 0002 0002 000Additional Information:a) It is expected that debtors will settle their accounts as follows:• 20 % in the month of invoice• 70% in the month after the month of invoice, and• 5% in the second month after the month of invoice• The remaining 5% is usually written off as bad debts.b) Trade creditors are paid in the month after purchase at a discount of 5%.c) 50% of the salaries and wages are weekly wages. Since wages are paid weekly, usually 10% of the wages are paid in the month following the month in which they were incurred.d) Expenses are paid as they arise.e) The favourable bank balance on 1 April 2020 was R 21 000.RequiredPrepare the Cash Budget of…B. An entity provided the following information during the current year:January 1 December 31Fair value of plan assets 6,000,000 9,000,000Projected benefit obligation 4,500,000 5,000,000Prepaid/accrued benefit cost – surplus 1,500,000 4,000,000Asset ceiling 1,000,000 2,500,000Effect of asset ceiling 500,000 1,500,000During the year, the entity recognized current service cost P2,000,000, actual return on plan assets P400,000,and contribution to the plan P4,550,000 and benefits paid P1,950,000. The discount rate is 10% REQUIRED:7. Compute the net remeasurement loss for the current year
- B. An entity provided the following information during the current year:January 1 December 31Fair value of plan assets 6,000,000 9,000,000Projected benefit obligation 4,500,000 5,000,000Prepaid/accrued benefit cost – surplus 1,500,000 4,000,000Asset ceiling 1,000,000 2,500,000Effect of asset ceiling 500,000 1,500,000During the year, the entity recognized current service cost P2,000,000, actual return on plan assets P400,000,and contribution to the plan P4,550,000 and benefits paid P1,950,000. The discount rate is 10% REQUIRED:9. Compute the amount of prepaid benefit cost that should be reported on December 31B. An entity provided the following information during the current year:January 1 December 31Fair value of plan assets 6,000,000 9,000,000Projected benefit obligation 4,500,000 5,000,000Prepaid/accrued benefit cost – surplus 1,500,000 4,000,000Asset ceiling 1,000,000 2,500,000Effect of asset ceiling 500,000 1,500,000During the year, the entity recognized current service cost P2,000,000, actual return on plan assets P400,000,and contribution to the plan P4,550,000 and benefits paid P1,950,000. The discount rate is 10% REQUIRED: 6. Compute the employee benefit expense for the current yearI. Non-cash assets amounted toa. P125,000b. P140,000c. P130.000d. P145,000
- Please calculate capital allowance using declining balance method with the following information: Details of the Fixed Assets: Details Cost NBV Tax Written Down As at 31 Dec 2021 As at 31 Dec 2021 Value as at 1 Jan 2021Motor Vehicles 10,00,000 7,200,000 7,000,000Equipment 15,000,00 12,00,000 6,713,335Office buildings 45,000,000 36,000,000 36,450,000 Included in the cost of motor vehicle is a lorry purchased on 1 April 2021 for $2,000,000…What is the fair value of plan assets (FVPA) on December 31, 2019? 7,250,000 8,200,000 8,850,000 9,800,000 answer not givenFrom the information given below Calculate the amount to be maintained as Legal Reserve for the year ended December 31, 2020. 2020 2019 RO’ 000 RO’ 000 PROFIT BEFORE TAXATION 33,793 31398Tax Expense 5,007 4,731
- From the following data, indicate the effect that the changes in the relevant items will have on the working capital:ParticularsJan 1, 2020Dec 31, 2020ParticularsJan 1, 2020Dec 31, 2020 Land4400068000Goodwill1300013000 Debentures2000025000Prepaid Expenses70300 Stock3000028000Bills Payable1500900 Machinery180000180000Bills Receivable30002000 Trade Creditors80005320Mortgaged Loan5000040000 Cash290009000Equity Share Capital100000120000 Long Term Investments100006250Preference Share Capital12000075000 Accrued Expenses350160Trade Debtors1900020000 Short-term Debt32205170 Your answer must indicate the overall and individual effect of changes in relevant items.Information on Entity A’s defined benefit plan is as follows: PV of DBO – Jan. 1, 20x1 2,000,000 FVPA – Jan.1, 20x1 1,800,000 PV of DBO – Dec. 31, 20x1 2,900,000 FVPA, end. – Dec. 31, 20x1 2,600,000 Current service cost 400,000 Actuarial loss 200,000 Return on plan assets 120,000 Discount rate 10% How much is the component of the20x1 defined benefit cost to be recognized in profit or loss? 420,000 560,000 680,000 400,000William and Raj Company provided the following information for the year:Projected benefit obligation - January 1 P 700,000Fair value of plan assets - January 1 560,000Pension benefits paid during the year 50,000Current service cost for the year 350,000Past service cost for the year (vesting period 5 years) 85,000Actual return on plan assets 36,000Contributions to the plan 300,000Actuarial loss due to change in assumptions on projected benefit obligation 40,000Discount or settlement rate 10%Expected return on plan assets 12%1. What is the employee benefit expense for the current year?2. How much is the actuarial gain/loss on return on plan assets?3. What is the prepaid/accrued balance of the pension at yearend?4. How much is the defined benefit cost?5. If the pension benefits paid during the year is worth P50,000 but the company was able to pay only P45,000, what would be the employee benefitexpense for the current year assuming the above given is the same?