Q1.The comparative balance sheet for ENGROo Corporation is presented below:ENGRO CORPORATIONComparative Balance Sheet20192018AssetsCashRS 36,00070,000RS 31,00060,000Accounts receivable (net)Prepaid insuranceLandEquipmentAccumulated depreciationTotal Assets25,00018,00070,000(20,000)RS 199,00017,00040,00060,000(13,000)RS 195,000Liabilities and Stockholders' EquityRS 11,000Accounts payableBonds payableRS 6,00027,000140,00019,000115,000Common stockRetained earningsTotal liabilities and stockholders' equity21,000RS 199,00055,000RS 195,000Additional information:1. Net loss for 2019 is RS 20,000.2. Cash dividends of RS 14,000 were declared and paid in 2019.3. Land was sold for cash at a loss of RS 4,000. This was the only land transaction during the year.4. Equipment with a cost of RS 15,000 and accumulated depreciation of RS 10,000 was sold for RS 5,000 cash.5. RS 22,000 of bonds were retired during the year at carrying (book) value.6. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange wasRS 25,000.InstructionsPrepare a statement of cash flows for the year ended 2019 by using the Indirect method.

Cash flow statement is the statement which shows the payments and receipts for the cash related…

Ql. The comparative balance sheet for ENGRO Corporation is presented below: ENGRO CORPORATION Comparative Balance Sheet 2019 2018 Assets Cash RS 36,000 RS 31,000 Accounts receivable (net) Prepaid insurance Land Equipment Accumulated depreciation Total Assets 70,000 25,000 18,000 70,000 (20,000) RS 199,000 60,000 17,000 40,000 60,000 _(13,000) RS 195,000 Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Liabilities and Stockholders' Equity RS 11,000 27,000 140,000 RS 6,000 19,000 115,000 55,000 RS 195,000 21.000 RS 199,000 Additional information: 1. Net loss for 2019 is RS 20,000. 2. Cash dividends of RS 14,000 were declared and paid in 2019. 3. Land was sold for cash at a loss of RS 4,000. This was the only land transaction during the year. 4. Equipment with a cost of RS 15,000 and accumulated depreciation of RS 10,000 was sold for RS 5,000 cash. 5. RS 22,000 of bonds were retired during the year at carrying (book) value. 6. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was RS 25,000. Instructions Prepare a statement of cash flows for the year ended 2019 by using the Indirect method.

Ql. The comparative balance sheet for ENGRO Corporation is presented below: ENGRO CORPORATION Comparative Balance Sheet 2019 2018 Assets Cash RS 36,000 RS 31,000 Accounts receivable (net) Prepaid insurance Land Equipment Accumulated depreciation Total Assets 70,000 25,000 18,000 70,000 (20,000) RS 199,000 60,000 17,000 40,000 60,000 _(13,000) RS 195,000 Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Liabilities and Stockholders' Equity RS 11,000 27,000 140,000 RS 6,000 19,000 115,000 55,000 RS 195,000 21.000 RS 199,000 Additional information: 1. Net loss for 2019 is RS 20,000. 2. Cash dividends of RS 14,000 were declared and paid in 2019. 3. Land was sold for cash at a loss of RS 4,000. This was the only land transaction during the year. 4. Equipment with a cost of RS 15,000 and accumulated depreciation of RS 10,000 was sold for RS 5,000 cash. 5. RS 22,000 of bonds were retired during the year at carrying (book) value. 6. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was RS 25,000. Instructions Prepare a statement of cash flows for the year ended 2019 by using the Indirect method.

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 9.4.10P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...

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