What is Declan's Design's 2022 Cash Flows from Operating Activities? Question 23 options: Increase of $85,000 Increase of $103,000 Increase of $111,000 Increase of $93,000
Q: АВС Со (carrying amounts) (fair values) XYZ Inc Combined Identifiable assets 9,600,000 6,400,000 16,...
A: A Goodwill is said to be an Intangible asset.The percentage of the purchase price that is larger tha...
Q: List the following steps of the accounting cycle in their proper order. Steps 1. Posting journal ent...
A: >Accounting cycle is the flow or steps carried out to complete the accounting process. These are ...
Q: EB2. LO 8.5Record the following transactions: Started a petty cash fund in the amount of $260. Re...
A: solution concept Petty cash fund is a fund created for handling day to day petty expenses The petty ...
Q: RIVERDALE paid finder's fees of P80,000, legal fees of P26,000, audit fees related to stock issuance...
A: Business combination is the arrangement and agreement between two or more than two entities in which...
Q: For each separate case, record the necessary adjusting entry. a. On July 1, Lopez Company paid $3,00...
A: Increase in assets should be debited and decrease in assets should be credited. Increase in expenses...
Q: the acquisition, the two companies have the following account balances. Clay’s equipment (with a fiv...
A: Consolidated Statements: Consolidated statements are reports that can be utilized when the parent or...
Q: Regarding corona-virus related distributions (CVDs) taken from IRAs in 2020: A The maximum CVD a...
A: The CARES Act of 2020 offers substantial assistance to companies and individuals harmed by the COVID...
Q: The balance sheets of HiROE Inc. showed the following at December 31, 2020 and 2019: December 31,...
A: Depreciation is a method of allocating the expense of a tangible or physical asset over its estimate...
Q: Which of the following is not a true statement with regard to a merger? a. one entity continues to ...
A: Merger refere to the unity of two companies to a single company under one name. It is formed as a se...
Q: On March 15, 2014, Rex Company paid property taxes of P180,000 on the factory building for calendar ...
A: As per expense recognition principle, all expenses of the particular period should be recorded in th...
Q: XYZ Co had the following accounts at the time it was acquired by ABC Inc (see image below). ABC paid...
A: This question is related to the business combination. Cost of Acquisition: It is the consideration p...
Q: if the value implied by the purchase price of an acquired company exceeds the fair values of the ide...
A: Acquisition refers to purchase of a company by another company by paying purchase consideration in e...
Q: ===== ==== Test I: Identification: Identify the correct and complete answer on the question provided...
A: Assets includes all type of rights and resources being held by the business. It will include current...
Q: December 31 Debit $ 41,000 2,300 7,600 110,000 Account Title Credit Cash Prepaid insurance Notes rec...
A: The balance sheet is an essential part of the financial statement. It indicates the financial positi...
Q: Mielé Appliances estima warranty payablé of Duri 2017, Miele made sales of $100000 and expects produ...
A:
Q: Vilo Company has estimated that total depreciation expense for 2014 will amount to P600,000 and that...
A: The expenses and revenue are recognised and recorded in the period they are actually incurred.
Q: help me with no.7
A: Two or more individual comes together for a mutual motive usually this motive is for profit-making b...
Q: For each account, identify whether it is included in a post- closing trial balance. Included in post...
A: All the temporary accounts like expenses, revenus and dividends are closed and are not shown in the ...
Q: PROBLEM 3: EXERCISE 1. The trial balance of Evening Co. as of December 31, 20x1 is shown below: Debi...
A:
Q: Black pens produces 12,000 units of gel pen T50 annually at a total cost of 270,000 Direct materials...
A: Relevant costs: =Direct materials+Labor cost+Variable overheads +avoidable fixed overheads +Revenue ...
Q: What is Declan's Designs' 2022 Cash Flows from Financing Activities? Question 31 options: Incr...
A: Correct option: Increase of $135,000 Incorrect options: Decrease of $135,000 Decrease of $73,000 ...
Q: On December 30, 2018, Ethnic Museum, a not-for-profit organlzation, recelved a P3,000,000 donation o...
A: A non-profit organization (NPO) is one that is not motivated by financial gain. They are not formed ...
Q: Required: (A) Prepare a perpetual inventory record for this merchandise, using the first in, first o...
A: Here asked for multi sub part question we will answer first three sub part of question. If you want...
Q: Saladin lists the ff possible items of gross income: Compensation Income – 200K Winnings from gambli...
A: 1)Increase in value of investment, Appreciation in the value of land, Debt of saladi cancelled by cr...
Q: The GOOD SHEPHERD Foundation, a nonprofit organization, had the following cash contributions and exp...
A: Cash Flow Statement - Under Cash Flow, there are three types of activities involved - Operating Acti...
Q: On July 1, KAW Inc. purchased 75 cows which, at that time were 2.5 years old for a total cost of P1,...
A: Computation of fair value of 3 years old cow 25000 * 75 = 1875000 Computation of fair value of 0.5 y...
Q: SHOW WORKING PLEASE .SOUND CORE WIRELESS sells a variety of mobile telephone accessories including s...
A: A perpetual inventory system is a program that continuously estimates your inventory based on your e...
Q: 1. On January 1, 2021, Monica purchased a cleaning equipment amounting to P50,000. She expects to us...
A:
Q: Juan, resident citizen, had the following income: Interest income from deposits in a foreign bank lo...
A: Answer: The income that is earned within Philippines are taxable within Philippines. Any income earn...
Q: SOUND CORE WIRELESS sells a variety of mobile telephone accessories including several brands of Wi...
A: Perpetual Inventory System – Under Perpetual inventory system on every sales transaction cost of goo...
Q: 3 Your business makes cash sales of $100 000 worth of goods (plus GST of 10%) and collected cash up ...
A: GST collected from customers are in nature of current liabilities which should be settled generally ...
Q: Inventory, 12/31/2021 500,000.00 725,000.00 Purchases 1,285,000.00 2,220,000.00 Purchase returns 20,...
A: The cost revenue ratio compares a company's expenses to its earnings and is a measure of efficiency....
Q: ABC and XYZ Inc had the following balance sheets on December 31, 2021: (see image below) On January ...
A: Consolidated financial statements are those statements which are prepared by the parent company in c...
Q: The transactions of Belle Company's appear below. 1. D. Belle created a new business and invested $6...
A: Cash Reference Number Amount Amount Reference Number 1 $ 6,400 $ 5,300 2 5 ...
Q: Use the following information for the next five questions:On January 1, 2021, ABC Co. acquired all o...
A: Consolidation- A consolidation statement refers to the consolidated financial statement that reflect...
Q: ournalizing Transactions Monilast Chemicals engaged in the following transactions during December 2...
A: In this question, we have to record transactions in the journal which helps us in financial statemen...
Q: What is Declan's Designs' 2020 Cash Flows from Investing Activities? Question 26 options: ...
A: Cash Flow Statement - Under Cash Flow, there are three types of activities involved - Operating Acti...
Q: S11-1 Accounting for a note payable On 30 June 2016, Cameron Clothing purchased $10000 of inventory ...
A: Note payable is a debt-instrument by which companies borrow for a short duration of time (less than ...
Q: On January 1, 2021, ABC Co. acquired all of the identifiable assets and assumed all of the liabiliti...
A: Goodwill or gain on bargain purchase is a gap between the consideration paid and net identifiable as...
Q: n 30 June 2016, Cameron Clothing purchased $10000 of inventory on a one-year, 10% note yable.
A: Solution: Interest is accrued from the date of issuance of Note till the date of adjusting entries. ...
Q: Explain the relationship of Social and Economic Accounting to Financial What are the features of the...
A: Answer: Social and economic accounting and financial are all related with each other. The basic conc...
Q: Discuss ROPs and to tal costs.
A: Answer: ROP is defined as reorder point. This is the inventory level that is to be maintained at the...
Q: XYZ Co had the following accounts at the time it was acquired by ABC Inc (see image below). ABC paid...
A: Cost of acquisition means total expenses incurred by entity to purchase other entity or assets.
Q: . State and explain briefly five (5) factors or reasons that may influence a country’s decision to a...
A: IFRS or international financial reporting standards are the set of standards that now used by most o...
Q: Cost Behavior SmokeCity, Inc., manufactures barbeque smokers. Based on past experience, SmokeCity ha...
A: Since we answer up to 3 sub-parts, we'll answer the first 3. Please resubmit the question and specif...
Q: Phillips Corporation’s fiscal year ends on November 30. The following accounts are found in its job ...
A: A ledger is a log or list of accounts that keep track of account transfers.
Q: Required: 1. Determine the high point and the low point. Month with high number of purchase orders M...
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: Johnson Corporation acquired all of the outstanding common stock of Smith Corporation for $12,200,00...
A: Goodwill is the amount of excess of consideration paid over the fair value of net assets of the acqu...
Q: Here are selected transactions of Mason Consulting Service. Post the transactions into the appropria...
A: Ledger accounts are prepared by the amounts/entries posted from the journal entries. For understandi...
Q: Part A In an article published in The Australian on 4 May 2021, it was noted that the company named ...
A: Solution Concept Going concern Going concern is the fundamental assumption used in t...
What is Declan's Design's 2022
Question 23 options:
|
Increase of $85,000 |
|
Increase of $103,000 |
|
Increase of $111,000 |
|
Increase of $93,000 |
Step by step
Solved in 2 steps with 2 images
- React Corporation Comparative Statements of Financial Position December 31, 2025 and 2024 2025 2024 Assets Current Assets Cash & Cash Equivalent 106,789 102,375 Trade & Other Receivables 327,611 277,467 Inventory 331,863 297,654 Prepaid Expenses 101,565 114,813 Total Current Assets 870,828 792,309 Noncurrent Assets Property, Plant & Equipment Intangibles 135,754 166,481 Total Noncurrent Assets 7,500 7,500 TOTAL ASSETS 143,254 173,981 1,014,082 966,290 Liabilities and Shareholders’ Equity Current Liabilities Trade & Other Payables Unearned Revenues 238,000 208,703 Notes Payables - current 107,508 82,456 Total Current Liabilities 45,000 45,000…Maple Group LtdComparative Balance SheetDecember 31, 2020 and 20192020 2019 Increase/(Decrease)Assets Cash and cash equivalent ? 31,500 (10,000)Accounts Receivable ? 87,500 ? Inventories 97,100 ? ? Fixed Assets, net 142,300 ? 32,000 Total Assets 302,900 323,000 (20,100)Liabilities Accounts payable 25,600 26,600 ? Accrued liabilities 24,000 ? 1,200 Long-term notes payable 58,200 ? (20,000)Stockholders' Equity: Common Stock ? 131,400 ? Retained earnings 54,800 64,000 (9,200)Total liabilities and stockholders' equity 302,900 323,000 (20,100)- - - Maple Group Ltd Income Statement Year Ended December 31,2020 Revenues and gains: Sales revenue 370,000 Interest revenue 11,800 Total revenues and gains 381,800 Expenses Cost of goods sold 205,500 Depreciation expense 15,500 Other operating expense 126,000 Interest expense 24,300 Total expenses 371,300 Income before income taxes 10,500 Income tax expense 16,300 Net Loss (5,800) Notes Acquisition of fixed asset during 2020 47,500 Sale proceed…Maple Group Ltd Comparative Balance Sheet December 31, 2020 and 2019 2020 2019 Increase/(Decrease) Assets Cash and cash equivalent 64,990 61,895 ? Accounts Receivable 95,100 88,500 ? Inventories 72,500 79,855 ? Fixed Assets, net ? ? ? Total Assets 442,590 395,800 46,790 Liabilities Accounts payable 45,000 58,350 ? Accrued liabilities ? ? ? Long-term notes payable 99,500 128,550 ? Stockholders' Equity: Common Stock 143,050 105,110 37,940 Retained earnings 43,540 24,290 19,250 Total liabilities and stockholders' equity 442,590 395,800 46,790…
- Maple Group Ltd Comparative Balance Sheet December 31, 2020 and 2019 2020 2019 Increase/(Decrease) Assets Cash and cash equivalent 64,990 61,895 ? Accounts Receivable 95,100 88,500 ? Inventories 72,500 79,855 ? Fixed Assets, net ? ? ? Total Assets 442,590 395,800 46,790 Liabilities Accounts payable 45,000 58,350 ? Accrued liabilities ? ? ? Long-term notes payable 99,500 128,550 ? Stockholders' Equity: Common Stock 143,050 105,110 37,940 Retained earnings 43,540 24,290 19,250 Total liabilities and stockholders' equity 442,590 395,800…E23.10B (L0 1,4) (Classification of Transactions) Following are selected balance sheet accounts of BioLazer Corp. at December 31, 2020 and 2019, and the increases or decreases in each account from 2019 to 2020. Also presented is selected income statement information for the year ended December 31, 2020, and additional information. Increase Selected balance sheet accounts 2020 2019 (Decrease)AssetsAccounts receivable $154,000 $120,000 $34,000Property, plant, and equipment 631,000 581,000 50,000Accumulated…Question No. 1 Cash Flow Statement The comparative balance sheets of Kennewick Inc. are shown below: Balance Sheet December 31 2019 2020 ∆ Cash $ 430,000 $ 300,000 (130,000) Accounts receivable 820,000 900,000 80,000 Inventory 975,000 1,100,000 125,000 Capital assets 5,200,000 5,800,000 600,000 Accumulated amortization (3,825,000) (4,025,000) (200,000) Capital assets-net 1,375,000 1,775,000 400,000 Total assets $ 3,600,000 $ 4,075,000 Accounts payable $ 955,000 $ 900,000 (55,000) Accrued liabilities 145,000 152,000 7,000 Dividend Payable - 8,000 8,000 Bonds payable 1,300,000 1,000,000 (300,000) Mortgage payable 500,000 800,000 300,000 Common stocks 450,000 740,000 290,000 Retained earnings 250,000 475,000 225,000 Total liabilities and stockholders’ equity $ 3,600,000 $…
- 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…CONCORD INC.Comparative Balance SheetsDecember 31 Assets 2022 2021 Cash $80,500 $48,700 Accounts receivable 87,900 38,600 Inventory 111,900 102,100 Prepaid expenses 29,400 27,900 Long-term investments 139,800 113,700 Plant assets 284,200 241,900 Accumulated depreciation (47,700) (49,100) Total $686,000 $523,800 Liabilities and Stockholders’ Equity Accounts payable $106,000 $63,700 Accrued expenses payable 16,500 21,200 Bonds payable 117,100 149,500 Common stock 219,000 175,100 Retained earnings 227,400 114,300 Total $686,000 $523,800 CONCORD INC.Income StatementFor the Year Ended December 31, 2022 Sales revenue $382,500 Less: Cost of goods sold $135,600 Operating expenses, excluding…Question 1The following information was extracted from the financial statement of Barryfor the year ended 31 December 2020. RMSales 437,500Opening inventories 17,500Closing inventories 26,250Cost of sales 262,500Other income 3,750Expenses 61,250Current liabilities 47,250Trade receivables 39,375Bank 8,750Cash 31,500Required:(a) Show the formulae and compute the value of the following for Barry:(i) Purchases(ii) Gross profit(iii)Net Profit
- Auga Company Ltd Comparative Balance Sheet December 31, 2021 and 2020 2021 2020 Increase/(Decrease) Assets Cash 238,000 138,000 ? Accounts Receivable 325,000 300,000 ? Inventories 280,000 350,000 ? Prepaid expenses 28,000 35,000 ? Intangible assets 328,000 328,000 ? Plant assets, net 1,200,000 980,000 ? Total Assets 2,399,000 2,131,000 Liabilities Accounts payable 180,000 240,000 ? Accrued liabilities 310,000 415,000 ? Income tax payable 105,000 100,000 ? Long-term notes payable 1,350,000 800,000 ? Stockholders' Equity Common Stock 330,000 295,000 ? Retained earnings 450,000…tion 8Income statement for the year ended 31 December, 2019 of KKMTN Ghana Ltd2018 2019ȼ ‘000 ȼ ‘000Turnover 420,000 523,600Cost of sales (330,000) (417,200)Gross profit 89,000 106,400Expenses:Administration 44,600 50,200Selling and distribution 15,400 (60,000) 19,600 (69,800)Profit before interest 29,000 36,600Debenture interest - (2,800)Net profit before tax 29,000 33,800Taxation (8,000) (10,000)Net Profit after tax 21,000 23,800Ordinary dividend paid 8,400 9,250Ordinary shares issued 12 million and trading at ȼ3 each as at yesterday onGSE.You are required to compute the following investment ratios:a). Earnings per shareb). Dividend per sharec). Payout ratiod). Price earnings ratioe). Earnings yieldAuga Company Ltd Comparative Balance Sheet December 31, 2021 and 2020 2021 2020 Increase/(Decrease) Assets Cash 110,000 70,000 ? Accounts Receivable 300,000 325,000 ? Supplies 350,000 280,000 ? Prepaid expenses 35,000 28,000 ? Intangible assets 215,000 215,000 ? Equipment, net 1,200,000 980,000 ? Total Assets 2,210,000 1,898,000 Liabilities Accounts payable 250,000 140,000 ? Accrued liabilities 210,000 215,000 ? Income tax payable 78,000 98,500 ? Long-term notes payable 602,000 725,000 ? Stockholders' Equity Common Stock 410,000 330,000 ? Retained earnings 730,000…