ADVANCED ACCOUNTING
13th Edition
ISBN: 9781260773033
Author: Hoyle
Publisher: MCG
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Chapter 10, Problem 21P
To determine
Identify the appropriate answer for the given statement from the given choices.
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III. Direction: The following comparative financial statements are provided by Zeus Company. Using
Horizontal and Vertical approach, calculate the missing and write your answer on the blank. Show
supporting solutions in a separate sheet of paper. Answer the questions at the bottom of this activity.
ZEUS COMPANY
COMPARATIVE STATEMENT OF FINANCIAL POSITION
December 31, 2019 and 2018
2019
2018
Rate of Inc(Dec)
Assets:
Current assets
P550,000.00
45%
21.98%
Long-term investments
Fixed assets (net)
10%
200,500.00
25%
30%
0.76%
Intangible assets
50,000.00
Total Assets
P1,211,500.00
Liabilities:
Current liabilities
20%
P200,800.00
Long-term liabilities
Total liabilities
100,000.00
200,000.00
P400,800.00
Owner's Equity
P869,200.00
60%
Total liabilities and equity
ZEUS COMPANY
COMPARATIVE INCOME STATEMENT
For the years 2019 and 2018
2019
2018
Rate of Inc(Dec)
Sales
P500,000.00
(0.50%)
Cost of Goods Sold
50%
40%
Gross Profit
P301,500.00
Operating Expenses:
Salaries
P95,000.00
P97,000.00
Rent…
a. What is the consolidated net income for 2014?
b. What is the consolidated sales for 2014?
Use the following information for the next two questions:The following items were presented for the purpose of determining comprehensive income. Profit for the year 2,000Increase in revaluation surplus 1,000Remeasurements of the net defined benefit liability (asset) - loss (200)Net change in translation of foreign operation (400)Dividends declared (100)Stock rights 300
a. How much is the other comprehensive income?b. How much is the total comprehensive income?
Chapter 10 Solutions
ADVANCED ACCOUNTING
Ch. 10 - Prob. 1QCh. 10 - What causes balance sheet (or translation)...Ch. 10 - Prob. 3QCh. 10 - Prob. 4QCh. 10 - Prob. 5QCh. 10 - Prob. 6QCh. 10 - Prob. 7QCh. 10 - Prob. 8QCh. 10 - Prob. 9QCh. 10 - Prob. 10Q
Ch. 10 - Prob. 11QCh. 10 - Which translation method does U.S. GAAP require...Ch. 10 - Prob. 13QCh. 10 - Prob. 1PCh. 10 - Prob. 2PCh. 10 - Prob. 3PCh. 10 - Prob. 4PCh. 10 - Prob. 5PCh. 10 - Prob. 6PCh. 10 - Prob. 7PCh. 10 - Prob. 8PCh. 10 - What amount does Newberrys consolidated income...Ch. 10 - Prob. 10PCh. 10 - Prob. 11PCh. 10 - Prob. 12PCh. 10 - Prob. 13PCh. 10 - Prob. 14PCh. 10 - Prob. 15PCh. 10 - Prob. 16PCh. 10 - Prob. 17PCh. 10 - A foreign subsidiarys functional currency is its...Ch. 10 - Prob. 19PCh. 10 - Prob. 20PCh. 10 - Prob. 21PCh. 10 - Prob. 22PCh. 10 - The following accounts are denominated in rubles...Ch. 10 - Prob. 24PCh. 10 - Prob. 25PCh. 10 - Sullivans Island Company began operating a...Ch. 10 - Prob. 27PCh. 10 - Prob. 28PCh. 10 - Prob. 29PCh. 10 - Prob. 30PCh. 10 - Prob. 31PCh. 10 - Prob. 32PCh. 10 - Prob. 33PCh. 10 - The following account balances are for the Agee...Ch. 10 - Prob. 35PCh. 10 - Prob. 36PCh. 10 - Prob. 37PCh. 10 - Prob. 38PCh. 10 - Prob. 1DYSCh. 10 - RESEARCH CASE 2FOREIGN CURRENCY TRANSLATION...Ch. 10 - Prob. 3DYSCh. 10 - Prob. 4DYSCh. 10 - Prob. 5DYS
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