-
Information from the statement of financial position and statement of income are given below for Blue Road Inc., a company following IFRS, for the year ended December 31. Blue Road has adopted the policy of classifying interest paid as operating activities and dividends paid as financing activities. Comparative Statement of Financial Position, at December 31 2017 2016 Cash Accounts receivable Inventory Investments in land Property, plant, and equipment Accumulated depreciation $71,300 $47,850 37,500 127,800 107,650 87,300110,000 291,000 213,000 (49,000) (40,000)...
-
he comparative, unclassified statement of financial position for
Ivanhoe Ltd. shows the following balances at December 31:
Ivanhoe
Ltd.
Statement of Financial Position
December 31
Assets
2018
2017
Cash
$ 16,000
$ 38,000
Term deposits (maturing in 60
days)
0
46,000
Accounts receivable
77,000
40,000
Inventory
104,000
68,000
Land
187,000
234,000
Buildings
908,000
529,000
Accumulated
depreciation—buildings
(134,000
)
(188,000
)
Equipment
96,000
67,000
Accumulated
depreciation—equipment
(39,000
)
(21,000
)
Total assets
$1,215,000
$813,000
Liabilities and
Shareholders’ Equity
Accounts payable
$...
-
The income statement and unclassified statement of financial position for Wildhorse, Inc. follow: WILDHORSE, INC. Statement of Financial Position December 31 Assets 2018 Cash $100,000 Held for trading investments 120,000 Accounts receivable 76,000 Inventory 122,700 Prepaid expenses 19,000 Property, plant, and equipment 316,000 Accumulated depreciation (47,000) Total assets $706,700 Liabilities and Shareholders' Equity Accounts payable $93,500 Accrued liabilities 12,000 Bank loan payable 131,200 Common shares 220,000 Retained earnings 250,000 Total liabilities and shareholders' equity $706,700 2017 $48,500 114,500 42,700 94,550...
-
The comparative, unclassified statement of financial position
for Ivanhoe Ltd. shows the following balances at December
31:
Ivanhoe
Ltd.
Statement of Financial Position
December 31
Assets
2018
2017
Cash
$ 18,000
$ 39,000
Term deposits (maturing in 60
days)
0
41,000
Accounts receivable
78,000
41,000
Inventory
104,000
73,000
Land
185,000
230,000
Buildings
902,000
525,000
Accumulated
depreciation—buildings
(137,000
)
(191,000
)
Equipment
104,000
74,000
Accumulated
depreciation—equipment
(38,000
)
(19,000
)
Total assets
$1,216,000
$813,000
Liabilities and
Shareholders’ Equity
Accounts payable
$...
-
Selected information from Wildhorse Ltd's statement of financial position and income statement is as follows: WILDHORSE LTD. Statement of Financial Position (partial) December 31 2018 2017 Current assets Accounts receivable $7,300 $13,000 Inventory 6,400 4,600 Prepaid expenses 3,200 2.100 Current liabilities Accounts payable 3,800 2,500 Income tax payable 1,500 650 Accrued liabilities 2.200 1.500 Bank loan payable-current portion 6,000 9.200 O WP hp WILDHORSE LTD. Income Statement Year Ended December 31, 2018 Net sales $205,000 Cost of goods sold 114.000...
-
Problem 11-7B Calculate operating activities-direct method
The income statement, balance sheets, and additional
information for Virtual Gaming Systems are provided.
Problem 11-7B Calculate operating activities-direct method (LO11-4, 11-5, 11-7) The income statement, balance sheets, and additional information for Virtual Gaming Systems are provided. VIRTUAL GAMING SYSTEMS Income Statement For the Year Ended December 31, 2021 Net sales $2,400,000 Gain on sale of land 9,000 Total revenues 2,409,000 Expenses: Cost of goods sold $1,550,000 Operating expenses 595,000 Depreciation expense 13,000 Interest...
-
The comparative, unclassified statement of financial position
for Ivanhoe Ltd. shows the following balances at December
31:
Ivanhoe
Ltd.
Statement of Financial Position
December 31
Assets
2018
2017
Cash
$ 16,000
$ 38,000
Term deposits (maturing in 60
days)
0
46,000
Accounts receivable
77,000
40,000
Inventory
104,000
68,000
Land
187,000
234,000
Buildings
908,000
529,000
Accumulated
depreciation—buildings
(134,000
)
(188,000
)
Equipment
96,000
67,000
Accumulated
depreciation—equipment
(39,000
)
(21,000
)
Total assets
$1,215,000
$813,000
Liabilities and
Shareholders’ Equity
Accounts payable
$...
-
The comparative statement of financial position of Blue Spruce Inc. as at June 30, 2020, and a statement of comprehensive income for the 2020 fiscal year follow: BLUE SPRUCE INC. Statement of Financial Position June 30, 2020 June 30 Assets 2020 2019 Cash $ 20,000 $ 44,000 Accounts receivable 86,200 75,600 Inventory 104,000 101,400 Prepaid expenses 2,700 5,000 FV-OCI investments 47,800 44,400 Equipment 179,000 159,000 Accumulated depreciation equipment (36,000) (23,400) Total $403,700 $ 406,000 Liabilities and Shareholders' Equity Accounts payable...
-
Please help the numbers.
Statement of Cash Flows-Direct Method applied to PR 16-1A The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is as follows: Dec. 31, 2013 Dec. 31, 20Y2 Assets Cash $ 236,240 $ 222,720 Accounts receivable (net) 86,560 79,410 Inventories 243,970 234,590 Investments U 91,280 Land Equipment 125,050 266,620 (63,400) 209,940 (56,600) Accumulated depreciation-equipment Total assets $895,040 $781,340 Liabilities and Stockholders' Equity $ 153,920 Accounts payable Accrued expenses payable $ 161,620 16,250 20,310...
-
Preparing a Statement of Cash Flows (Direct Method) Rainbow Company's income statement and comparative balance sheets follow. RAINBOW COMPANY Income Statement For Year Ended December 31, 2018 Sales $750,000 Dividend Income 15,000 Total Revenue 765,000 Cost of Goods Sold $440,000 Wages and Other Operating Expenses 130,000 Depreciation Expense 39,000 Patent Amortization Expense 7,000 Interest Expense 13,000 Income Tax Expense 44,000 Loss on Sale of Equipment 5,000 Gain on Sale of Investments (3,000) 675,000 Net Income $90,000 RAINBOW COMPANY Balance Sheets...
Information from the statement of financial position and statement of income are given below for Blue Road Inc., a company following IFRS, for the year ended December 31. Blue Road has adopted the policy of classifying interest paid as operating activities and dividends paid as financing activities. Comparative Statement of Financial Position, at December 31 2017 2016 Cash Accounts receivable Inventory Investments in land Property, plant, and equipment Accumulated depreciation $71,300 $47,850 37,500 127,800 107,650 87,300110,000 291,000 213,000 (49,000) (40,000)...
he comparative, unclassified statement of financial position for
Ivanhoe Ltd. shows the following balances at December 31:
Ivanhoe
Ltd.
Statement of Financial Position
December 31
Assets
2018
2017
Cash
$ 16,000
$ 38,000
Term deposits (maturing in 60
days)
0
46,000
Accounts receivable
77,000
40,000
Inventory
104,000
68,000
Land
187,000
234,000
Buildings
908,000
529,000
Accumulated
depreciation—buildings
(134,000
)
(188,000
)
Equipment
96,000
67,000
Accumulated
depreciation—equipment
(39,000
)
(21,000
)
Total assets
$1,215,000
$813,000
Liabilities and
Shareholders’ Equity
Accounts payable
$...
The income statement and unclassified statement of financial position for Wildhorse, Inc. follow: WILDHORSE, INC. Statement of Financial Position December 31 Assets 2018 Cash $100,000 Held for trading investments 120,000 Accounts receivable 76,000 Inventory 122,700 Prepaid expenses 19,000 Property, plant, and equipment 316,000 Accumulated depreciation (47,000) Total assets $706,700 Liabilities and Shareholders' Equity Accounts payable $93,500 Accrued liabilities 12,000 Bank loan payable 131,200 Common shares 220,000 Retained earnings 250,000 Total liabilities and shareholders' equity $706,700 2017 $48,500 114,500 42,700 94,550...
The comparative, unclassified statement of financial position
for Ivanhoe Ltd. shows the following balances at December
31:
Ivanhoe
Ltd.
Statement of Financial Position
December 31
Assets
2018
2017
Cash
$ 18,000
$ 39,000
Term deposits (maturing in 60
days)
0
41,000
Accounts receivable
78,000
41,000
Inventory
104,000
73,000
Land
185,000
230,000
Buildings
902,000
525,000
Accumulated
depreciation—buildings
(137,000
)
(191,000
)
Equipment
104,000
74,000
Accumulated
depreciation—equipment
(38,000
)
(19,000
)
Total assets
$1,216,000
$813,000
Liabilities and
Shareholders’ Equity
Accounts payable
$...
Selected information from Wildhorse Ltd's statement of financial position and income statement is as follows: WILDHORSE LTD. Statement of Financial Position (partial) December 31 2018 2017 Current assets Accounts receivable $7,300 $13,000 Inventory 6,400 4,600 Prepaid expenses 3,200 2.100 Current liabilities Accounts payable 3,800 2,500 Income tax payable 1,500 650 Accrued liabilities 2.200 1.500 Bank loan payable-current portion 6,000 9.200 O WP hp WILDHORSE LTD. Income Statement Year Ended December 31, 2018 Net sales $205,000 Cost of goods sold 114.000...
Problem 11-7B Calculate operating activities-direct method
The income statement, balance sheets, and additional
information for Virtual Gaming Systems are provided.
Problem 11-7B Calculate operating activities-direct method (LO11-4, 11-5, 11-7) The income statement, balance sheets, and additional information for Virtual Gaming Systems are provided. VIRTUAL GAMING SYSTEMS Income Statement For the Year Ended December 31, 2021 Net sales $2,400,000 Gain on sale of land 9,000 Total revenues 2,409,000 Expenses: Cost of goods sold $1,550,000 Operating expenses 595,000 Depreciation expense 13,000 Interest...
The comparative, unclassified statement of financial position
for Ivanhoe Ltd. shows the following balances at December
31:
Ivanhoe
Ltd.
Statement of Financial Position
December 31
Assets
2018
2017
Cash
$ 16,000
$ 38,000
Term deposits (maturing in 60
days)
0
46,000
Accounts receivable
77,000
40,000
Inventory
104,000
68,000
Land
187,000
234,000
Buildings
908,000
529,000
Accumulated
depreciation—buildings
(134,000
)
(188,000
)
Equipment
96,000
67,000
Accumulated
depreciation—equipment
(39,000
)
(21,000
)
Total assets
$1,215,000
$813,000
Liabilities and
Shareholders’ Equity
Accounts payable
$...
The comparative statement of financial position of Blue Spruce Inc. as at June 30, 2020, and a statement of comprehensive income for the 2020 fiscal year follow: BLUE SPRUCE INC. Statement of Financial Position June 30, 2020 June 30 Assets 2020 2019 Cash $ 20,000 $ 44,000 Accounts receivable 86,200 75,600 Inventory 104,000 101,400 Prepaid expenses 2,700 5,000 FV-OCI investments 47,800 44,400 Equipment 179,000 159,000 Accumulated depreciation equipment (36,000) (23,400) Total $403,700 $ 406,000 Liabilities and Shareholders' Equity Accounts payable...
Please help the numbers.
Statement of Cash Flows-Direct Method applied to PR 16-1A The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is as follows: Dec. 31, 2013 Dec. 31, 20Y2 Assets Cash $ 236,240 $ 222,720 Accounts receivable (net) 86,560 79,410 Inventories 243,970 234,590 Investments U 91,280 Land Equipment 125,050 266,620 (63,400) 209,940 (56,600) Accumulated depreciation-equipment Total assets $895,040 $781,340 Liabilities and Stockholders' Equity $ 153,920 Accounts payable Accrued expenses payable $ 161,620 16,250 20,310...
Preparing a Statement of Cash Flows (Direct Method) Rainbow Company's income statement and comparative balance sheets follow. RAINBOW COMPANY Income Statement For Year Ended December 31, 2018 Sales $750,000 Dividend Income 15,000 Total Revenue 765,000 Cost of Goods Sold $440,000 Wages and Other Operating Expenses 130,000 Depreciation Expense 39,000 Patent Amortization Expense 7,000 Interest Expense 13,000 Income Tax Expense 44,000 Loss on Sale of Equipment 5,000 Gain on Sale of Investments (3,000) 675,000 Net Income $90,000 RAINBOW COMPANY Balance Sheets...