Reconstruct the company’s comparative balance sheet for 2020/2021 using the information in line with your first name initial and compute and show the missing figures to include the appropriate sign as a positive or negative figure.Prepare a complete statement of cash flows for 2021 using the indirect method using the information in line with your first name initial Financial info to be used by first names with initials (S, W, G, Z)Auga Company LtdComparative Balance SheetDecember 31, 2021 and 202020212020 Increase/(Decrease)Assets15,000220,000340,00010,000105,000Cash175,000230,000310,00030,000105,000860,0001,710,000?Accounts ReceivableInventories?Prepaid expensesIntangible assetsEquipment, net??830,0001,520,000Total AssetsLiabilitiesAccounts payableAccrued liabilitiesIncome tax payableLong-term notes payableStockholders' Equity90,000190,000120,000360,000140,000160,000140,000450,000????Common Stock400,000640,000250,000400,000?Retained earningsTreasury stock(90,000)1,710,000(20,000)1,520,000Total liabilities and stockholders' equity Auga Company LtdIncome StatementYear Ended December 31,2021Revenues and gains:Sales revenue1,900,00020,000Gain on sale of plant assetsTotal revenues and gainsExpensesCost of goods soldDepreciation expenseOther operating expenseTotal expensesIncome before income taxesIncome tax expense1,920,000850,000190,000360,0001,400,000520,000180,000340,000Net IncomeNotesAcquisition of plant asset during 2021320,000Sale proceeds from sale of plant asset120,000Receipt for issuance of notes payable10,000Payment for note payable100,000Dividend paid100,000Book value of equipment sold100,000

Cash flow is the inflow and outflow of cash and helps in determining the net cash balance with the…

Answered: negative figure.

Business

Accounting

negative figure.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 103.2C

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