Homework Answers
Reasons for negative net income and positive cashflow
1.Huge Depreciation expense
2.Accrued expenses where cash payments is deffered
3.Sale proceeds of non current assets
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Bright Star Sdn Bhd. has the following information for 2012: Statement of comprehensive income for the...
Bright Star Sdn Bhd. has the following information for 2012: Statement of comprehensive income for the year ended J...
Bright Star Sdn Bhd. has the following information for 2012: Statement of comprehensive income for the year ended June 30, 2012 S 550,000 320.000 230,000 Sales revenue Less: Cost of goods sold Gross margin Less: Operating expenses Salaries expense Depreciation expense Insurance expense 165,000 21,000 19.000 205.000 25,000 3.000 28.000 Gain on sale of non-current assets Statement of financial position at June 30 2012 (5) 28,000 26,000 30,000 84,000 90,000 2011 (5) 33,000 Accounts payable 15,000 Salaries payable 42,000 90,000...
Prepare the statement of clash flow for the year 2012 Question 2 Based on the above...
Prepare the statement of clash flow for the
year 2012
Question 2 Based on the above information, prepare a statement of cash flow for the year 2012. WINDOWS SDN BHD BALANCE SHEET AS OF DECEMBER 31, 2012 AND 2011 2012 2011 CURRENT ASSETS Cash Account receivable Inventory Total current assets 24.000 70,000 25,000 65.000 100,000 190,000 205,000 FIXED ASSETS Gross plant and equipment Less: Depreciation Net plant and equipment Other long term assets Totalfixed assets 365.000 51.000 315,000 50.000 365.000...
The income statement and additional data of Eldridge Properties Ltd follow: Eldridge Properties Ltd Statement of...
The income statement and additional data of Eldridge Properties Ltd follow: Eldridge Properties Ltd Statement of Financial Performance for the year ended 30 June 2012 Revenues $229,00 Sales revenue $237,00 Dividend revenue 8,000 Expenses $103,00 Costs of sales Salary expenses Depreciation expense Advertising expense Interest expense Income tax expense Profit 45,000 28,000 12,000 2,000 9,000 199,000 $38,000 Additional data: a. Beginning accounts receivable were $35,000 while closing accounts receivable were $20,000. b. Payments to suppliers are the sum of cost...
Problem 1-63A (Algorithmic) Income Statement, Retained Earnings Statement, and Balance Sheet The following information relates to...
Problem 1-63A (Algorithmic) Income Statement, Retained Earnings Statement, and Balance Sheet The following information relates to Ashton Appliances for 2019. Accounts payable $16,800 Accounts receivable 70,300 Accumulated depreciation (building) 106,200 Accumulated depreciation (furniture) 27,600 Bonds payable (due in 7 years) 192,000 Building 300,000 Cash 41,450 Common stock 115,620 Cost of goods sold 511,350 Depreciation expense (building) 11,050 Depreciation expense (furniture) 12,000 Furniture 130,000 Income taxes expense 16,650 Income taxes payable 11,400 Insurance expense 36,610 Interest expense 15,500 Inventory 59,850 Other...
Multiple-step income statement and balance sheet The following selected accounts and their current balances appear in...
Multiple-step income statement and balance sheet
The following selected accounts and their current balances
appear in the ledger of Kanpur Co. for the fiscal year ended June
30, 20Y7:
Cash
$125,300
Retained Earnings
$552,500
Accounts Receivable
334,200
Dividends
75,100
Inventory
381,000
Sales
4,591,100
Estimated Returns Inventory
5,000
Cost of Goods Sold
2,655,600
Office Supplies
11,800
Sales Salaries Expense
746,800
Prepaid Insurance
9,100
Advertising Expense
205,400
Office Equipment
275,800
Depreciation Expense—
Store Equipment
40,000
Accumulated Depreciation—
Office Equipment
187,500
Miscellaneous Selling...
UOLIT $60,000 3.Spon, med THREE WINDS CONSULTING Income Statement For the Year Ended June 30, 2012...
UOLIT $60,000 3.Spon, med THREE WINDS CONSULTING Income Statement For the Year Ended June 30, 2012 Foas earned Expenses Salary expense.... . . . ... Supplies expenso... . . .. Depreciation expenso.... . . .. ......... Miscellaneous expense.. Total expenses.... .. ..... . Not mcomo 2,400 800 1,500 . 37,200 . . .. . THREE WIND $22,200 S.. . THREE WINDS CONSULTING . . .". Retalned Earnings Statement V ... For the Yoar Ended June 30, 2012 Retained earnings, July...
Multiple-step income statement and balance sheet The following selected accounts and their current balances appear in...
Multiple-step income statement and balance sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 20Y7: Cash $109,100 Retained Earnings $480,800 Accounts Receivable 290,900 Dividends 65,300 Inventory 331,600 Sales 3,995,800 Estimated Returns Inventory 5,000 Cost of Goods Sold 2,311,300 Office Supplies 10,300 Sales Salaries Expense 649,900 Prepaid Insurance 8,000 Advertising Expense 178,700 Office Equipment 240,100 Depreciation Expense— Store Equipment 34,800 Accumulated Depreciation— Office Equipment 163,100 Miscellaneous Selling...
Multiple-step income statement and balance sheet The following selected accounts and their current balances appear in t...
Multiple-step income statement and balance sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2017: Cash $118,000 Retained Earnings $520,000 70,600 Accounts Receivable Dividends 320,200 358,600 4,321,100 Inventory Estimated Returns Inventory Office Supplies 2,499,400 5,000 11,100 Sales Cost of Goods Sold Sales Salaries Expense Advertising Expense Depreciation Expense- Store Equipment 702,900 193,300 Prepaid Insurance 8,600 Office Equipment 259,600 37,700 Miscellaneous Selling Expense 16,500 176,400 Accumulated Depreciation-...
Multiple-step income statement and balance sheet The following selected accounts and their current balances appear in...
Multiple-step income statement and balance sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 20Y7: Cash $112,800 Retained Earnings $497,100 Accounts Receivable 300,700 Dividends 67,500 Inventory 342,800 Sales 4,130,700 Estimated Returns Inventory 5,000 Cost of Goods Sold 2,389,300 Office Supplies 10,600 Sales Salaries Expense 671,900 Prepaid Insurance 8,200 Advertising Expense 184,800 Office Equipment 248,200 Depreciation Expense— Store Equipment 36,000 Accumulated Depreciation— Office Equipment 168,700 Miscellaneous Selling...
Multiple-Step Income Statement and Report Form of Balance Sheet The following selected accounts and their current...
Multiple-Step Income Statement and Report Form of Balance Sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2018 Cash Accounts Receivable Inventory Estimated Returns Inventory Office Supplies Prepaid Insurance Office Equipment Accumulated Depreciation-Office Equipment 58,000 Miscellaneous Selling Expense Store Equipment Accumulated Depreciation-Store Equipment 87,500 Rent Expense Accounts Payable Customers Refunds Payable $92,000 Retained Earnings 450,000 Dividends 370,000 Sales $381,000 300,000 8,925,000 5,000 Cost of Goods Sold...
Bright Star Sdn Bhd. has the following information for 2012: Statement of comprehensive income for the year ended June 30, 2012 S 550,000 320.000 230,000 Sales revenue Less: Cost of goods sold Gross margin Less: Operating expenses Salaries expense Depreciation expense Insurance expense 165,000 21,000 19.000 205.000 25,000 3.000 28.000 Gain on sale of non-current assets Statement of financial position at June 30 2012 (5) 28,000 26,000 30,000 84,000 90,000 2011 (5) 33,000 Accounts payable 15,000 Salaries payable 42,000 90,000...
Prepare the statement of clash flow for the
year 2012
Question 2 Based on the above information, prepare a statement of cash flow for the year 2012. WINDOWS SDN BHD BALANCE SHEET AS OF DECEMBER 31, 2012 AND 2011 2012 2011 CURRENT ASSETS Cash Account receivable Inventory Total current assets 24.000 70,000 25,000 65.000 100,000 190,000 205,000 FIXED ASSETS Gross plant and equipment Less: Depreciation Net plant and equipment Other long term assets Totalfixed assets 365.000 51.000 315,000 50.000 365.000...
The income statement and additional data of Eldridge Properties Ltd follow: Eldridge Properties Ltd Statement of Financial Performance for the year ended 30 June 2012 Revenues $229,00 Sales revenue $237,00 Dividend revenue 8,000 Expenses $103,00 Costs of sales Salary expenses Depreciation expense Advertising expense Interest expense Income tax expense Profit 45,000 28,000 12,000 2,000 9,000 199,000 $38,000 Additional data: a. Beginning accounts receivable were $35,000 while closing accounts receivable were $20,000. b. Payments to suppliers are the sum of cost...
Multiple-step income statement and balance sheet
The following selected accounts and their current balances
appear in the ledger of Kanpur Co. for the fiscal year ended June
30, 20Y7:
Cash
$125,300
Retained Earnings
$552,500
Accounts Receivable
334,200
Dividends
75,100
Inventory
381,000
Sales
4,591,100
Estimated Returns Inventory
5,000
Cost of Goods Sold
2,655,600
Office Supplies
11,800
Sales Salaries Expense
746,800
Prepaid Insurance
9,100
Advertising Expense
205,400
Office Equipment
275,800
Depreciation Expense—
Store Equipment
40,000
Accumulated Depreciation—
Office Equipment
187,500
Miscellaneous Selling...
UOLIT $60,000 3.Spon, med THREE WINDS CONSULTING Income Statement For the Year Ended June 30, 2012 Foas earned Expenses Salary expense.... . . . ... Supplies expenso... . . .. Depreciation expenso.... . . .. ......... Miscellaneous expense.. Total expenses.... .. ..... . Not mcomo 2,400 800 1,500 . 37,200 . . .. . THREE WIND $22,200 S.. . THREE WINDS CONSULTING . . .". Retalned Earnings Statement V ... For the Yoar Ended June 30, 2012 Retained earnings, July...
Multiple-step income statement and balance sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2017: Cash $118,000 Retained Earnings $520,000 70,600 Accounts Receivable Dividends 320,200 358,600 4,321,100 Inventory Estimated Returns Inventory Office Supplies 2,499,400 5,000 11,100 Sales Cost of Goods Sold Sales Salaries Expense Advertising Expense Depreciation Expense- Store Equipment 702,900 193,300 Prepaid Insurance 8,600 Office Equipment 259,600 37,700 Miscellaneous Selling Expense 16,500 176,400 Accumulated Depreciation-...
Multiple-Step Income Statement and Report Form of Balance Sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2018 Cash Accounts Receivable Inventory Estimated Returns Inventory Office Supplies Prepaid Insurance Office Equipment Accumulated Depreciation-Office Equipment 58,000 Miscellaneous Selling Expense Store Equipment Accumulated Depreciation-Store Equipment 87,500 Rent Expense Accounts Payable Customers Refunds Payable $92,000 Retained Earnings 450,000 Dividends 370,000 Sales $381,000 300,000 8,925,000 5,000 Cost of Goods Sold...
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