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(6) Prepare an extract of statement of Francal position OF X-Limited for ended December
The draft statement of financial position of Linfield Limited for the year ended 31 December 2016 are as below:...
The draft statement of financial position of Linfield Limited for the year ended 31 December 2016 are as below: Statement of financial position as at 31 December 2016 (with comparative figures) 2016 2015 Non-current assets Property, plant and equipment 35,750 281,000 Investment properties 7,000 7,500 Intangibles assets 6,000 6,200 49,250 294,200 Current assets Inventories 3,980 4,545 Trade receivables 7,410 9,075 Short-term investments 500 Cash and bank 7,555 13,650 26,105 20,610 14,810 375,355 Total assets Equity and reserves Share capital 54,500...
The income statement for Wildhorse Limited is presented here: WILDHORSE LIMITED Income Statement Year Ended December...
The income statement for Wildhorse Limited is presented here: WILDHORSE LIMITED Income Statement Year Ended December 31, 2018 Service revenue $995,000 Operating expenses 717,000 Income from operations 278,000 Interest expense 77,000 Income before income tax 201,000 Income tax expense 50,250 Net income $150,750 Wildhorse's statement of financial position contained these comparative data at December 31: Accounts receivable Prepaid expenses Accounts payable Salaries payable Unearned revenue Interest payable Income tax payable 2018 $56,800 12,300 35,300 19,100 12,900 2017 $46,300 15,800 40,200...
) Prepare the income statement for the year ended December 31. (2) Prepare the statement of...
)
Prepare the income statement for the year ended December 31. (2)
Prepare the statement of retained earnings for the year ended
December 31
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Cred Debit $ 6,600 16,500 2,000 183,000 $ 37,698 75,000 Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense...
The extract of the capital structure on the Statement of Financial Position of Nelson Inc. for...
The extract of the capital structure on the Statement of Financial Position of Nelson Inc. for the year ended 2018 is shown as below Statement of Financial Position for the year ended 31 December 2018 Total (S) Bonds (zero coupon, $1,000 par, 5-year maturity) 3,000,000 Preferred stock (S100 par, 6% dividend) 900,000 Common stock (Si0 par) 980,000 4,880,000 Market prices per bond/share are $710 for bonds, S96 for preferred stock, and $35 for common stock, respectively. There will be sufficient...
1) Prepare the statement profit or loss for the year ended 31 December 2018 2)Prepare the...
1) Prepare the statement profit or loss for the year
ended 31 December 2018
2)Prepare the financial position as that date.
The following is the trial balance of DRS Trading as at 31 al balance of DRS Trading as at 31 December 2018. Credit (RM) 16,500 34,000 246,290 DRS Trading Trial Balance as at 31 December 2018 Particulars Debit (RM) Cash at bank 18,750 Account Receivable 12,840 Inventory as at 1 January 2018 26,500 Motor vehicles 45,000 Freehold premises 215,000...
Question 2 (25 marks) The extract of the capital structure on the Statement of Financial Position...
Question 2 (25 marks) The extract of the capital structure on the Statement of Financial Position of Nelson Inc. for the year ended 2018 is shown as below: Statement of Financial Position for the year ended 31 December 2018 Total (S) Bonds (zero coupon, $1,000 par, 5-year maturity) 3,000,000 Preferred stock ($100 par, 6% dividend) 900,000 Common stock ($10 par) 980,000 4,880,000 Market prices per bond/share are $710 for bonds, $96 for preferred stock, and $35 for common stock, respectively....
1. Prepare the company's income statement for the year ended December 31, 2018
1. Prepare the company's income statement for the year ended December 31, 2018 2. Prepare the company's statement of retained earnings for the year ended December 31, 2018 3. Prepare the company's classified balance sheet in report form at December 31, 2018 4. Journalize the closing entries for Bennett Irrigation System. 5. Compute the company's current ratio at December 31, 2018. At December 31, 2017, the current ratio was 2.6. Did the company's ability to pay debts improve or deteriorate, or did it remain...
. Prepare an income statement and a statement of shareholders’ equity for the year ended December...
. Prepare an income statement and a statement of
shareholders’ equity for the year ended December 31, 2021, and a
classified balance sheet as of December 31, 2021. Assume that no
common stock was issued during the year and that $5,000 in cash
dividends were paid to shareholders during the year.
Pastina Company sells varlous types of pasta to grocery chains as private label brands. The company's reporting year-end Is December 31. The unadjusted trlal balance as of December 31,...
A)Accounts receivable accounts B) Allowance for doubtful debts account. C) Statement of profit or loss (extract)....
A)Accounts receivable accounts
B) Allowance for doubtful debts account.
C) Statement of profit or loss (extract).
D) Statement of financial position(extract).
Accounting for Accounts Receivable 15 & Suria commenced business on 1 January 20X0. At year end, 31 December 20X0, the accounts receivable balance was RM10,000. In addition, she found that it was necessary to create an allowance for doubtful debts of RM960. ro During the year ended 31 December 20X1, an amount totalling RM840 proved to be bad and...
Prepare an income statement for December 2020 and a classified statement of financial position at December...
Prepare an income statement for December 2020 and a classified statement of financial position at December 31, 2020. On December 1, 2020, Cambridge Printers had the account balances shown below. Debit Credit Cash £ 4,650 Accumulated Depreciation – Equipment £ 1,500 Accounts Receivable 3,900 Accounts Payable 3,000 Inventory 1,950 (3,000 x £0.65) Owner’s Capital 27,000 Equipment 21,000 £ 31,500 £ 31,500 The following transactions occurred during December. December 3: Purchased 4,000 units of inventory on account at a cost of...
The draft statement of financial position of Linfield Limited for the year ended 31 December 2016 are as below: Statement of financial position as at 31 December 2016 (with comparative figures) 2016 2015 Non-current assets Property, plant and equipment 35,750 281,000 Investment properties 7,000 7,500 Intangibles assets 6,000 6,200 49,250 294,200 Current assets Inventories 3,980 4,545 Trade receivables 7,410 9,075 Short-term investments 500 Cash and bank 7,555 13,650 26,105 20,610 14,810 375,355 Total assets Equity and reserves Share capital 54,500...
The income statement for Wildhorse Limited is presented here: WILDHORSE LIMITED Income Statement Year Ended December 31, 2018 Service revenue $995,000 Operating expenses 717,000 Income from operations 278,000 Interest expense 77,000 Income before income tax 201,000 Income tax expense 50,250 Net income $150,750 Wildhorse's statement of financial position contained these comparative data at December 31: Accounts receivable Prepaid expenses Accounts payable Salaries payable Unearned revenue Interest payable Income tax payable 2018 $56,800 12,300 35,300 19,100 12,900 2017 $46,300 15,800 40,200...
)
Prepare the income statement for the year ended December 31. (2)
Prepare the statement of retained earnings for the year ended
December 31
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Cred Debit $ 6,600 16,500 2,000 183,000 $ 37,698 75,000 Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense...
The extract of the capital structure on the Statement of Financial Position of Nelson Inc. for the year ended 2018 is shown as below Statement of Financial Position for the year ended 31 December 2018 Total (S) Bonds (zero coupon, $1,000 par, 5-year maturity) 3,000,000 Preferred stock (S100 par, 6% dividend) 900,000 Common stock (Si0 par) 980,000 4,880,000 Market prices per bond/share are $710 for bonds, S96 for preferred stock, and $35 for common stock, respectively. There will be sufficient...
1) Prepare the statement profit or loss for the year
ended 31 December 2018
2)Prepare the financial position as that date.
The following is the trial balance of DRS Trading as at 31 al balance of DRS Trading as at 31 December 2018. Credit (RM) 16,500 34,000 246,290 DRS Trading Trial Balance as at 31 December 2018 Particulars Debit (RM) Cash at bank 18,750 Account Receivable 12,840 Inventory as at 1 January 2018 26,500 Motor vehicles 45,000 Freehold premises 215,000...
Question 2 (25 marks) The extract of the capital structure on the Statement of Financial Position of Nelson Inc. for the year ended 2018 is shown as below: Statement of Financial Position for the year ended 31 December 2018 Total (S) Bonds (zero coupon, $1,000 par, 5-year maturity) 3,000,000 Preferred stock ($100 par, 6% dividend) 900,000 Common stock ($10 par) 980,000 4,880,000 Market prices per bond/share are $710 for bonds, $96 for preferred stock, and $35 for common stock, respectively....
1. Prepare the company's income statement for the year ended December 31, 2018 2. Prepare the company's statement of retained earnings for the year ended December 31, 2018 3. Prepare the company's classified balance sheet in report form at December 31, 2018 4. Journalize the closing entries for Bennett Irrigation System. 5. Compute the company's current ratio at December 31, 2018. At December 31, 2017, the current ratio was 2.6. Did the company's ability to pay debts improve or deteriorate, or did it remain...
. Prepare an income statement and a statement of
shareholders’ equity for the year ended December 31, 2021, and a
classified balance sheet as of December 31, 2021. Assume that no
common stock was issued during the year and that $5,000 in cash
dividends were paid to shareholders during the year.
Pastina Company sells varlous types of pasta to grocery chains as private label brands. The company's reporting year-end Is December 31. The unadjusted trlal balance as of December 31,...
A)Accounts receivable accounts
B) Allowance for doubtful debts account.
C) Statement of profit or loss (extract).
D) Statement of financial position(extract).
Accounting for Accounts Receivable 15 & Suria commenced business on 1 January 20X0. At year end, 31 December 20X0, the accounts receivable balance was RM10,000. In addition, she found that it was necessary to create an allowance for doubtful debts of RM960. ro During the year ended 31 December 20X1, an amount totalling RM840 proved to be bad and...
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