FINANCIAL ACCOUNTING: TOOLS LL W/ ACCES
9th Edition
ISBN: 9781119493648
Author: Kimmel
Publisher: WILEY
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Sandhill Park is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information
as of December 31, 2027.
Service revenue (from camping fees)
Sales revenue (from general store)
Accounts payable
Cash
Equipment
(a)
$158.400
Sandhill Park's net income for 2027
30,000
13,200
10,200
136.800
Determine Sandhill Park's net income for 2027.
$
Dividends
Notes payable
Expenses during 2027
Supplies
Common stock
Retained earnings (1/1/2027)
$10.800
60.000
151.200
6.600
48.000
6.000
Highland is a brewing company, which has been in existence over the years. With your finance background, a friend has requested you with the interest to invest in the company. Presented below is the financial statement for Highland.
Required:
You are required to calculate and interpret all relevant ratios for Highland Company Limited, stating all assumptions made and showing all workings to assist your friend in making his decision.
Highland Company Limited
Statement of Comprehensive Income for the year ended 30th June 2021
2021
(GH¢ '000)
2020
(GH¢ '000)
Revenue
321,017
292,318
Cost of Sales
(228,793)
(192,923)
Gross Profit
92,224
99,395
Advertising and marketing expenses
(28,986)
(24,895)
Administrative expenses
(13,350)
(14,022)
Other expenses
(20,810)
(20,197)
Other Income
2,085
339
Results from operating activities
31,163
40,620
Finance income
815
354
Finance cost
(4,110)…
20. The following details were extracted from the records of Mari Jose Cor. As of December 31, 2020. Your task is to prepare the Income Statement in proper format.
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