Problem no 19, (Ref. 3) The following are the financial statements of Bagmati Bitumin Limited. wwwwwwwwww Assets Cash Accounts receivable Inventory Total current assets Fixed assets Total assets Sales Cost of goods sold Depreciation Bagmati Bitumin Limited Balance Sheet as of December 31, 2016 and 2017 2016 Rs 650 2,382 4,408 Rs 7,440 Rs 13,992 Rs 18,584 Total debt 2017 Liabilities and Equity Rs 710 Accounts payable 2,106 Notes payable 4,982 Other Rs 7,798 Total current liabilities Long-term debt Owners' equity (1,250 shares outstanding) Rs 21,432 Rs 26,382 Total liabilities and equity Earnings before interest and taxes Interest paid Taxable income Taxes @ 35% Net Income Dividends Addition to retained earnings Market price for a share of stock 2016 Rs 987 640 90 Rs 1,717 4,318 Rs 6,035 Rs 15,397 Rs 21,432 Bagmati Bitumin Limited Income Statement for the Year Ended December 31, 2017 2017 Rs 1215 718 230 Rs 2,163 4,190 Rs 6,353 Rs 20,029 Rs 26,382 Rs 28,000 11,600 2,140 Rs 14,260 980 Rs 13,280 4,648 Rs 8,632 Rs 4,000 Rs 4,632 Rs 63
Problem no 19, (Ref. 3) The following are the financial statements of Bagmati Bitumin Limited. wwwwwwwwww Assets Cash Accounts receivable Inventory Total current assets Fixed assets Total assets Sales Cost of goods sold Depreciation Bagmati Bitumin Limited Balance Sheet as of December 31, 2016 and 2017 2016 Rs 650 2,382 4,408 Rs 7,440 Rs 13,992 Rs 18,584 Total debt 2017 Liabilities and Equity Rs 710 Accounts payable 2,106 Notes payable 4,982 Other Rs 7,798 Total current liabilities Long-term debt Owners' equity (1,250 shares outstanding) Rs 21,432 Rs 26,382 Total liabilities and equity Earnings before interest and taxes Interest paid Taxable income Taxes @ 35% Net Income Dividends Addition to retained earnings Market price for a share of stock 2016 Rs 987 640 90 Rs 1,717 4,318 Rs 6,035 Rs 15,397 Rs 21,432 Bagmati Bitumin Limited Income Statement for the Year Ended December 31, 2017 2017 Rs 1215 718 230 Rs 2,163 4,190 Rs 6,353 Rs 20,029 Rs 26,382 Rs 28,000 11,600 2,140 Rs 14,260 980 Rs 13,280 4,648 Rs 8,632 Rs 4,000 Rs 4,632 Rs 63
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.23E: Unusual income statement items Assume that the amount of each of the following items is material to...
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