Prepare a Cash Flow Statement. Showing Operating, Investing, Financing activities.
Q: Selected account balances from the adjusted trial balance for Karam co. at 31/12/2020, are provided…
A: Total equity amount means amount attributable to owners and shareholders of the company.
Q: Sheet December 31, 20X1 Assets Cash 6.000 Accounts recevable 22.500 Equipment 75.000 Total assets…
A: a) Yes company is able to declare and pay dividends as the company earns a net income of $42,000.…
Q: Net loss (7250) Dividends income 1,000 Opening stock 27800 Accounts payable 18000 Accounts…
A: Owners' equity comprises of capital and retained earnings.
Q: The following is the summarized balance sheet of Michael Ltd. LIABILITIES 2018 2019 Equity…
A: Cash flow statement is prepared to know how adjustment in income and balance sheet effects the cash…
Q: December 31, December 31, 2015 2016 Cash $700 $1,130 Accounts receivable 450 310 Inventory 350 400…
A: The cash flow statement is prepared to record the cash flow from various activities during the…
Q: Use the preceding information for Palto’s purchase of Saleen common stock. Assume Palto purchases…
A: Hey there since you have posted multiple questions, we can answer only first question, please…
Q: Five Star Manufacturing Company Statement of Financial Position As of December 31, 20X4 P 20,000…
A: The liquidity and profitability of the company can be analyzed by computing the return on equity,…
Q: Q3. The following is the summarized balance sheet of Michael Ltd. LIABILITIES 2018 2019 Equity Share…
A: Cash flow statement shows all cash inflows and cash outflows of business for the particular period…
Q: Sunland Company compiled the following financial information as of December 31, 2018: Revenues…
A: Assets: These are the resources owned and controlled by business and used to produce benefits for…
Q: Comparative balance sheets at the end of 2004 and 2005 of OASIS LIMITED appear below: OASIS…
A: Cash flow statement provides information about cash activities of a company during the reported…
Q: The following balance sheets and income statement were taken from the records of Rosie-Lee Company:…
A: The cash flow statement is prepared to record the cash flow from various activities into the…
Q: Celloscope Ltd. Balance Sheet 31-Dec-19 Current Assets Cash 18000…
A:
Q: E4.2 (LO 2, 3) Presented below is information related to Viel Company at December 31, 2020. Sales…
A: The income statement, together with the balance sheet and the statement of cash flows, is one of…
Q: Swifty Corporation compiled the following financial information as of December 31, 2022: Service…
A: Net Income = Service revenue - Operating expenses Net Income = $848,000 - $729,000 Net Income =…
Q: RPI, Inc. Balance Sheets for 12/31/02 and 12/31/03 2002 $16,000 7,000 42,000 50,000 1,200 $116,200…
A: Financial statement analysis is done to analyze the overall performance of a business entity.
Q: SULTAN CORPORATION Comparative Balance Sheets December 31 2012 2011 $ 14,300 $ 10,700 Accounts…
A: PLEASE LIKE THE ANSWER, YOUR RESPONSE MATTERS “Since you have asked multiple questions, we will…
Q: Question no 2 On December 31, 2010 and 2011 Balance Sheet of ABC Ltd. Shows the following ASSETS…
A: Net income = Retained earnings of 2011 + Cash Dividend - Retained earnings of…
Q: Comparative financial statement data for Carmono Company follow: This Year Last Year Assets…
A: Cash Flow Statement (Indirect Method) For the year ended December 31 Cash Flow from Operating…
Q: sibaya Company (Pty)Ltd ‘s balance sheet and income statement are provided below:…
A: Solution: (a) Accounts Receivable Turnover Ratio =Net Credit Sales/Average Accounts Receivable…
Q: QUESTION FOUR: Here is the Trial balance of Falta Ltd as at 30 April 2018:…
A: Financial Statement: It consists of statements such as trial balance, income statement, balance…
Q: Prepare a statement of cash flows using the indirect method. unit IV question 15
A: Cash flow statement includes: Cash flows from operating activities Cash flows from investing…
Q: 1. BALANCE SHEET REPORTING OF LIABILITIES The following information pertains to Malabon Company as…
A: The actual liabilities are due and paid by business to outsiders on future date.
Q: Comparative financial statement data for Carmono Company follow: This Year Last Year…
A: Statement of Cash Flow - Statement of Cash Flow shows the movement of cash for the financial year.…
Q: CONSTANTINE CAVAMANLIS INC. BALANCE SHEETS Assets Dec. 31, 2007 Jan. 1, 2007 $ 13,000 Inc./Dec. Cash…
A: CONSTANTINE CAVAMANLIS INC. Cash Flow Statement (Indirect Method) For the year ended December…
Q: P2-4. The balance sheet of Argentum Company is presented below: Assets 2020 P 160,000 580,000…
A: The Balance Sheet of a company for the year 2020 is given.
Q: Sephfem Inc Exercise Sephfem Inc engages in the following transactions: Year 1 Year 2 Issues common…
A: Income statement is a statement that helps in determining the income or the profit and loss of a…
Q: xtract of Balance sheet items as at 31 December 2020 OR Land 35000 Account receivables…
A: Formula: Owners equity = Capital + Retained earnings - Drawings. Deduction of drawings from Capital…
Q: Required Information [The following Information applies to the questions displayed below] Milea Inc.…
A: Accounting equation is an equation which generally used in accounting world to analysis the accuracy…
Q: The accounts below appear in the ledger of Bramble Company. Retained Earnings Dr. Cr.…
A: Journal entry: It is a set of economic events that can be measured in monetary terms. These journal…
Q: Information for Crane Company is given below: Crane Company Balance…
A: Return on Common Stock equity = (Income available to Equity Shareholder/Common Stockholder's Equity)…
Q: Prepare a classified balance sheet as of December 31, 202
A: There is a difference of $ 4528 between the debit and credit side of the given Trial balance. Hence,…
Q: Liabilities Equity Notes Pavable Wages Payable Common Stock APIC Income Statement Cash Flow Cash…
A: The income statement is prepared to find net income or losses incurred during the period.
Q: Comparative balance sheets at the end of 2004 and 2005 of OASIS LIMITED appear below: OASIS…
A: The cash flow statement is prepared by a company to show the amount of net decrease or net increase…
Q: Q3. The following is the summarized balance sheet of Michael Ltd. LIABILITIES 2018 2019 Equity Share…
A: It shows the ending cash balance for the year-end.
Q: Fatima Company compiled the following financial information as of December 31, 2013: Revenues…
A: The total stockholders’ equity represents the owner’s capital or claim in the company. The total…
Q: On December 31, 2010 and 2011 Balance Sheet of ABC Ltd. Shows the following ASSETS 2011 2010…
A: Profit for the year Retained earnings 31-12-2010 a $ 12,300.00 Dividend paid b $…
Q: Teller Corporation’s post-closing trial balance at December 31, 2017, was as follows. Check the…
A: The total stockholders’ equity represents the owner’s capital or claim in the company. The total…
Q: Selected account balances from the adjusted trial balance for Karam co. at 31/12/2020, are provided…
A: Adjusted retained earning on December 31, 2020 = Beginning retained earning - net loss - dividend =…
Q: . 2019 Feb Q.No. 1 The following data are taken from the books of Resunga & Company (amount in…
A: You have posted multiple part question, so as per our policy only first three sub parts, if you want…
Q: Use the following information for questions 171–172. Metzger Company compiled the following…
A:
Q: Mills Company prepared the following balance sheet at the begning of 2019: Prepare a classified…
A: The balance sheet is one of the three basic financial statements and is essential for both financial…
Q: Corporation s comparative statement of financial position (balance sheets) are presented below. 20X9…
A: A)
Q: Jerry Corporation The following are the account balances of Jerry Corporation for 2X20 and 2X21.…
A: Balance sheet: It refers to a financial statement that shows all the liabilities, assets, and…
Question no 2
On December 31, 2010 and 2011 Balance Sheet of ABC Ltd. Shows the following
ASSETS |
2011 |
2010 |
Cash |
7000 |
4800 |
Accounts Receivable |
8500 |
9500 |
Merchandise Inventory |
32500 |
33200 |
Equipment |
30100 |
24000 |
TOTAL |
78100 |
71500 |
|
|
|
EQUITIES |
|
|
Accumulated Depreciation Equipment |
6100 |
4800 |
Accounts Payable |
16800 |
19400 |
Mortgage Payable |
6000 |
10000 |
Share Capital – Rs. 10 per share |
30000 |
25000 |
Share Premium |
2500 |
|
|
16700 |
12300 |
TOTAL |
78100 |
71500 |
Additional Information:
1. A fully
2. Cash dividend of Rs. 4,000 were declared and paid.
Required: Prepare a
Step by step
Solved in 2 steps
- The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows:Dec 31 20Y9 Dec 31 20Y8ASSETSCash $ 70,720 $ 47,940Accounts Receivable 207,230 188,190Inventories 298,520 289,850Investments - 102,000Land 295,800 -Equipment 438,600 358,020Accumulated Depreciation-Equipment (99,110) (84,320)Total Assets $ 1,211,760 $ 901,680LIABILITIES AND STOCKHOLDERS' EQUITYAccounts Payable $ 205,700 $ 194,140Accrued Expenses Payable (operating expenses) 30,600 26,860Dividends Payable 25,500 20,400Common Stock, $1 par 202,000 102,000Paid-in Capital; Excess of issue price over par-common stock 354,000 204,000Retained Earnings 393,960 354,280Total Liabilities and Stockholders Equity: $ 1,211,760 $ 901,680Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:A. Equipment and land were acquired for cashB. There were no disposals of equipment during the year.C. The investments were sold for $91,800 cash.D. The common stock was…Prepare the income statements and balance sheets for years 2018 and 2019 for Thompson Company using the following information. The balance sheet numbers are at the end of year figures.Item20182019Accounts Payable120.0150.0Accounts Receivable150.0180.0Accumulated Depreciation330.0360.0Cash & Cash Equivalents10.012.0Common Stock150.0200.0Cost of Goods Sold750.0850.0Depreciation25.030.0Interest Expense30.033.0Inventory200.0180.0Long-term Debt150.0150.0Gross Plant & Equipment650.0780.0Retained Earnings208.5225.0Sales1,500.01,700.0SG&A Expenses500.0570.0Notes Payable51.567.0Tax Rate21%21%(2) Answer the following questions:(a) How much did Thompson Company spend in acquiring fixed assets in 2019?(b) How much dividend did Thompson Company pay out during 2019?(c) Using the end of year numbers, did the long-term solvency ratios improve or deteriorate from 2018 to 2019? Answer this question using at least two long-term solvency ratios.(d) Using the end of year numbers, did the asset…1. The following information is from Direct to You Corp.’s (DYC) financial records for its year ended December 31, 2020: Select statement of financial position information: 2020 2019 Investments in financial assets (at fair value through profit or loss [FVPL]) 12,000 10,000 Inventory 575,000 498,000 Property, plant, and equipment (PPE) 1,984,000 1,396,000 Less: accumulated depreciation (650,400) (487,000) Copyright 126,000 135,000 Patents 564,000 417,000 Select statement of comprehensive income information: Depreciation of property, plant, and equipment (334,400) Amortization of patents (65,000) Interest expense (75,000) Impairment loss — copyright (9,000) Gain on sale of PPE 23,000 Additional information: PPE that originally cost $570,000 was sold during the year. 100,000 common shares were issued in 2020 to acquire $450,000 of property, plant, and equipment. DYC is subject to IFRS. What amount of net cash used…
- Coronado Industries Comparative Balance Sheets . December 31, 2022 2021 Assets: Current Assets: Cash $ 1380000 $1100000 Accounts Receivable (net) 3100000 2170000 Inventory 3950000 2510000 Prepaid Expenses 704000 631000 Total Current Assets 9134000 6411000 Long-Term Investments 450000 Plant Assets: Property, Plant & Equipment 4360000 2879000 Accumulated Depreciation (901000 ) (539000 ) Total Plant Assets 3459000 2340000 Total Assets $13043000 $8751000 . Equities: Current Liabilities: Accounts Payable $2550000 $2190000 Accrued Expenses 617000 566000 Dividends Payable 403000 Total Current Liabilities 3570000 2756000 Long-Term Notes Payable 1648000 Stockholders' Equity:…Equipment that cost $879000 and had a book value of $394000 was sold for $455000. Data from the comparative balance sheets are: 12/31/21 12/31/20 Equipment $5300000 $4869000 Accumulated Depreciation 1640000 1450000 Equipment purchased during 2021 was $431000. $1310000. $829000. $919000.Problem BPeter Senen Corporation provided the following account balances as of September 30, 2020: CashP112,000 Accumulated depreciationP 36,000Accounts Receivable64,000Accounts payable 40,000Finished Goods48,000Income tax payable9,000Work in process 36,000 Share Capital500,000Raw materials 52,000 Retained Earnings207,000Property and Equipment480,000The following transactions occurred during October:1. Materials purchased on account, P150,0002. Materials issued to production: direct materials- P90,000, Indirect materials- P10,000.3. Payroll for the month of October 2020 consisted of the following (also paid during the month):Direct labor P62,000Administrative salariesP16,000Indirect Labor 20,000Sales salaries 30,000Payroll deductions were as follows:Withholding taxes P19,800Phil health contributions P2,000SSS contributions 7,100HDMF contributions 2,0004. Employer contributions for the month were accrued:FactorySellingAdministrativeSSS contributionsP5,700P2,000P1,100Philhealth…
- ShafNita Sdn. Bhd. Statement of Financial Position as at 31 December2019 2020RM RM RM RM Non Current AssetsBuilding 100,000 100,000Fixtures less accumulated depreciation 3,600 4,000Van less accumulated depreciation 7,840 14,800111,440 118,800 Current AssetInventory 11,200 24,800Trade account receivable 12,800 16,400Bank 1,800 -Cash 440 400 26,240 41,600Total assets 137,680 160,400Finance by:Capital account:Balance at 1 January 74,080 105,080Add: Net profit for the year 70,400 42,320Cash introduced - 20,000144,480 167,400Less: Drawings (39,400) (43,200)105,080 124,200 Non Current LiabilitiesLoan (repayable in 10 years time) 20,000 30,000Current LiablitiesAccount Payable 12,600 6,012Bank overdraft - 188Retained earnings 32,600 36,200Total liabilities and equity 137,680 160,400 Additional information at 31 December 2020: Fixtures bought in 2020 cost RM800. Van bought in 2020 cost RM11,000. Required: Prepare statement of cash flow for ShafNita Sdn. Bhd. for the year ended 31 December…Balance sheet extracts as at 31/12/2018 & 31/12/2019 2018(RO) 2019(RO) Non-current assets Land 210000 210000 Machinery 45000 74000 Intangible Assets 56000 52000 Current assets Inventories 4000 5000 Account receivables 2500 2000 Prepaid Expenses 300 500 Current liabilities Trade payables 5000 4000 Accruals 1200 700 The operating profit for 2019 was RO 17,000 and the depreciation for the year was RO 8,000( Machinery & amortisation on intangible assets) The depreciation & loss on sale of fixed asset RO 3500 on asset sold originally costing RO 10000 What was the net cash generated from Operations for 2019? What was the net cash generated from Investing Activity?The balance sheet data of Coronado Industries at the end of 2021 and 2020 follow: 2021 2020 Cash $ 104000 $ 142000 Accounts receivable (net) 241000 179000 Inventory 280000 179000 Prepaid expenses 41000 99000 Buildings and equipment 362000 302000 Accumulated depreciation—buildings and equipment (72000 ) (32000 ) Land 358000 162000 Totals $1314000 $1031000 Accounts payable $270000 $222000 Accrued expenses 50000 70000 Notes payable—bank, long-term 151000 Mortgage payable 120000 Common stock, $10 par 843000 647000 Retained earnings (deficit) 31000 (59000 ) $1314000 $1031000 Land was acquired for $196000 in exchange for common stock, par $196000, during the year; all equipment purchased was for cash. Equipment costing $24000 was sold for $8000; book value of the equipment was $14000 and the loss was reported…
- Crane Company's balance sheet accounts as of December 31, 2021 and 2020 and information relating to 2021 activities are presented below. December 31, 2021 2020 Assets Cash $ 438000 $ 198000 Short-term investments 598000 — Accounts receivable (net) 1000000 1000000 Inventory 1360000 1180000 Long-term investments 398000 598000 Plant assets 3380000 1980000 Accumulated depreciation (898000) (898000) Patent 178000 198000 Total assets $6454000 $4256000 Liabilities and Stockholders' Equity Accounts payable and accrued liabilities $1640000 $1420000 Notes payable (nontrade) 578000 — Common stock, $10 par 1598000 1380000 Additional paid-in capital 798000 498000 Retained earnings 1840000 958000 Total liabilities and stockholders' equity $6454000 $4256000 Information relating to 2021 activities:• Net income for…Dr.Cr.(GH₵)(GH₵)Stated capital310Income surplus at 1 January 2017456Inventory at 1 January 2017236Turnover1,468Purchases856Salaries46Directors salaries (admin expense)116Land & building at cost550Plant & equipment at cost578Land & building- accumulated depreciation as at 1 January 2017154Plant & equipment –accumulated depreciation as at 1 January 2017266Bank interest received6Sundry expenses56Trade receivables110Trade payables122Accruals42Cash at bank43Dividends paid36Administrative expenses183Interest paid142,8242,824The following information is also relevant:(1) Inventory at 31st December 2017 is GH₵256(2) The tax liability for the year is estimated to be 20% of the profit before tax.4(3) The original cost of land and buildings is made up of GH₵100 land and GH₵450 buildings. Buildings are used in administration and depreciation is charged on a straight line basis over the estimated useful life of 50 years.(4) Plant & equipment are used in distribution and…Balance sheet extracts as at 31/12/2019 & 31/12/2020 2019(RO) 2020(RO) Current assets Inventories 6500 4500 Account receivables 3400 5300 Prepaid Expenses 1220 1550 Current liabilities Account payables 4320 3450 Expense payables 3100 4700 The operating profit for 2020 was RO 22500 and the depreciation for the year was RO7650 The profit on sale of fixed assets RO 4200 . Amortisation of intangible assets OMR 550. Calculate cash flow from operating activity