Homework Answers
| (a) | ||||
| Closing rate method | ||||
| Balance sheet | ||||
| Before exchange | After exchange | |||
| Exchange rate | 1$ = 3pounds | |||
| Fixed Assets | 10800 | 32400 | ||
| Accumulated depreciation | -2400 | -7200 | ||
| Net book value | $ 8,400.00 | $ 25,200.00 | ||
| stock | 24000 | 72000 | ||
| other net current assets | 6600 | 19800 | ||
| current assets | $ 30,600.00 | $ 91,800.00 | ||
| long-term liabilities | ||||
| 8% debentures | -18000 | $(18,000.00) | -54000 | -54000 |
| $ 21,000.00 | $ 63,000.00 | |||
| share capital | 15000 | 45000 | ||
| profit for the year | 9000 | 27000 | ||
| Dividends paid | -3000 | -9000 | ||
| $ 21,000.00 | $ 63,000.00 | |||
| Comprehensive income | ||||
| Before exchange | After exchange | |||
| Turnover | 36000 | 108000 | ||
| Cost of sales | 21600 | 64800 | ||
| Opening stock | 21000 | 63000 | ||
| Purchases | -24000 | -72000 | ||
| Closing stock | 18600 | 55800 | ||
| Gross profit | 17400 | 52200 | ||
| General expenses | -600 | -1800 | ||
| Depreciation | -2400 | -7200 | ||
| -3000 | -9000 | |||
| Profit before tax | 14400 | 43200 | ||
| tax | -5400 | -16200 | ||
| Profit after tax | 9000 | 27000 | ||
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Tea Inc, an 80% subsidiary of Karkade Ple set up on 1 January 2018, prepares its...
Tea Inc, an 80% subsidiary of Karkade Plc set up on 1 January 2018, prepares its...
Tea Inc, an 80% subsidiary of Karkade Plc set up on 1 January 2018, prepares its accounts in the currency "S". The financial statements of Tea as at 31 December 2018 are given as follows: Statement of financial position as at 31 December 2018 Fixed assets Less accumulated depreciation Net book value Stock Other net current assets Current assets Long-term liabilities 8% debentures 10,800 (2,400) 8,400 24,000 6,600 30,600 Share capital Profit for the year Dividends paid (18.000) 21,000 15,000...
Tea Inc, an 80% subsidiary of Karkade Plc set up on 1 January 2018, prepares its...
Tea Inc, an 80% subsidiary of Karkade Plc set up on 1 January 2018, prepares its accounts in the currency "$". The financial statements of Tea as at 31 December 2018 are given as follows: Statement of financial position as at 31 December 2018 Fixed assets Less accumulated depreciation Net book value Stock Other net current assets Current assets Long-term liabilities 8% debentures 10.800 (2,400) 8,400 24,000 6,600 30,600 Share capital Profit for the year Dividends paid (18.000) 21,000 15,000...
solve only b please using temporaral mathod Tea Inc, an 80% subsidiary of Karkade Ple set...
solve only b please using temporaral mathod
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Excerise 1.23
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Prepare the company's statement of cash flows-indirect
method-for the year ended December 31, 2018. Assume investments are
purchased with cash.
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Tea Inc, an 80% subsidiary of Karkade Plc set up on 1 January 2018, prepares its accounts in the currency "S". The financial statements of Tea as at 31 December 2018 are given as follows: Statement of financial position as at 31 December 2018 Fixed assets Less accumulated depreciation Net book value Stock Other net current assets Current assets Long-term liabilities 8% debentures 10,800 (2,400) 8,400 24,000 6,600 30,600 Share capital Profit for the year Dividends paid (18.000) 21,000 15,000...
Tea Inc, an 80% subsidiary of Karkade Plc set up on 1 January 2018, prepares its accounts in the currency "$". The financial statements of Tea as at 31 December 2018 are given as follows: Statement of financial position as at 31 December 2018 Fixed assets Less accumulated depreciation Net book value Stock Other net current assets Current assets Long-term liabilities 8% debentures 10.800 (2,400) 8,400 24,000 6,600 30,600 Share capital Profit for the year Dividends paid (18.000) 21,000 15,000...
solve only b please using temporaral mathod
Tea Inc, an 80% subsidiary of Karkade Ple set up on 1 January 2018, prepares its accounts in the currency "S". The financial statements of Tea as at 31 December 2018 are given as follows: Statement of financial position as at 31 December 2018 Fixed assets Less accumulated depreciation Net book value Stock Other net current assets Current assets Long-term liabilities 8% debentures 10.800 (2,400) 8,400 24,000 6,600 30,600 (18.000) 21.000 15.000 9,000...
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Excerise 1.23
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Ryle Exercise Equipment, Inc. reported the following financial
statements for 2018:
Prepare the company's statement of cash flows-indirect
method-for the year ended December 31, 2018. Assume investments are
purchased with cash.
Ryle Exercise Equipment, Inc. reported the following financial statements for Prepare the company's statement of cash flows-indirect method-for the 2018 EEB (Click the icon to view the income statement.) EB (Click the icon to view the comparative balance sheet) (Click the icon to view additional information.) year ended December...
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