Homework Answers
In the additional Information given,
3) Notes payable of amount $30000 are converted into $30000 shares .
The total change in the ordinary share value since last year is 245000-170000= 75000.
out of the above 75000 increase in share value 30000 is because of the convertion of notes payable into shares.
And the rest amount $45000 (75000-30000) is raised by the way of financing activity .
Hence ,For the issue of shares the value is $45000.
Add Answer to:
why does the issue of share is 45000? thanks
Question 4. (Total 20 marks) Condensed financial...
Condensed financial data of P Company appear below: P COMPANY Comparative Statements of Financial Position December...
Condensed financial data of P Company appear below: P COMPANY Comparative Statements of Financial Position December 31 2017 2016 $315,000 $250,000 (65,000 (60,000) 75,000 25,000 132,000 53,000 71,00035,000 $635,000 $510,000 Plant assets Investments Prepaid expenses Inventories Accounts receivable Cash 90,000 19,000 120,000 85,000 Total Share capital-ordinary Retained earnings Bonds payable Accounts payable Accrued expenses payable $245,000 $170,000 81,000 160,000 75,000 138,000 130,000 Total $635,000 $510,000 P COMPANY Income Statement For the Year Ended December 31, 2017 Sales revenue Less: $470,000...
I. Condensed financial data of Mennan Company appear below: MENNAN COMPANY Comparative Balance Sheet December 31...
I. Condensed financial data of Mennan Company appear below: MENNAN COMPANY Comparative Balance Sheet December 31 2010 2009 Assets Cash $ 61,000 $ 35,000 Accounts receivable 75,000 53,000 Inventories 118,000 132,000 Prepaid expenses 21,000 25,000 Investments 100,000 75,000 Plant assets 325,000 250,000 Accumulated depreciation _(65,000) _(60.000) Total $635,000 $510,000 Liabilities and Stockholders' Equity Accounts payable $ 98,000 $ 75,000 Accrued expenses payable 24,000 24,000 Bonds payable 120,000 160,000 Common stock 275,000 170,000 Retained earnings 118.000 81.000 Total $635,000 $510,000 MENNAN...
STATEMENT OF CASH FLOWS (YOU MAY USE EITHER THE DIRECT OR THE INDIRECT METHOD – YOU...
STATEMENT OF CASH FLOWS (YOU MAY USE EITHER THE DIRECT OR THE INDIRECT METHOD – YOU MUST INDICATE AT THE TOP OF YOUR SOLUTION WHICH METHOD YOU ARE USING) Eyjafjallajökull Company Comparative Balance Sheet December 31 2017 2016 Assets Cash $ 70,000 $ 35,000 Accounts receivable 82,000 53,000 Inventories 120,000 132,000 Prepaid expenses 19,000 25,000 Investments 80,000 65,000 Plant assets 310,000 250,000 Accumulated depreciation (65,000) (60,000) Total $616,000 $500,000 Liabilities and Stockholders' Equity...
Problem 12-9A Your answer is partially correct. Try again. Condensed financial data of Vaughn Manufacturing follow...
Problem 12-9A Your answer is partially correct. Try again. Condensed financial data of Vaughn Manufacturing follow Vaughn Manufacturing Comparative Balance Sheets December 31 Assets 2017 2016 $109,080 $65,340 Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 51,300 138,848 35,100 147,150 118,530 151,875 38,340 186,300 384,750327,375 (67,500)(70,200) $921,375 $694,913 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock $ 137,700 22,275 148,500 297,000 315,900 $921,375 $90,855 28,350 197,100 236,250 142,358 $694,913 Retained...
The financial statements of Wetaskiwin Ltd., a private company reporting under ASPE, follow: WETASKIWIN LTD. Balance...
The financial statements of Wetaskiwin Ltd., a private company reporting under ASPE, follow: WETASKIWIN LTD. Balance Sheet December 31 Assets 2021 Cash $9,000 Short-term notes receivable 14,000 Accounts receivable 28,000 Inventory 29,000 Property, plant, and equipment 73,000 Accumulated depreciation (30,000) Total assets $123,000 Liabilities and Shareholders' Equity Accounts payable $25,000 Income tax payable 3,000 Notes payable 15,000 Common shares 25,000 Retained earnings 55,000 Total liabilities and shareholders' equity $123,000 2020 $10,000 23,000 14,000 25,000 78,000 (24,000) $126,000 $43,000 20,000 10,000...
Supplements Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 230,000 Cost...
Supplements Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 230,000 Cost of Goods Sold 93,000 Gross Profit 137,000 Operating Expenses: Salaries Expense $ 57,000 Depreciation Expense Plant Assets 28,000 Total Operating Expenses 85,000 Net Income Before Income Taxes 52,000 Income Tax Expense 8,000 $ Net Income 44,000 c. a. Acquisition of plant assets is $118,000. Of this amount, $105,000 is paid in cash and $13,000 by signing a note payable. b. Cash receipt from sale...
Question 17 (2 points) Use the following information to answer questions 17-20. MARCOTTE MASONARY LTD. Statement...
Question 17 (2 points) Use the following information to answer questions 17-20. MARCOTTE MASONARY LTD. Statement of Financial Position December 31, 2015 $ 50,000 5,000 75,000 110,000 90,000 Accounts payable Salaries payable Mortgage payable Total liabilities $ 40,000 5,000 190,000 235,000 $220,000 Cash Prepaid insurance Accounts receivable Inventory Land Building -Accumulated depreciation Trademark -Accumulated amortisation Total assets Common shares Retained earnings Total shareholders' equity 200,000 105,000 305,000 160,000 60,000 $ 75,000 25,000 50,000 $540,000 Total liabilities and shareholders' equity $540,000...
Condensed financial data of Kingbird Company for 2017 and 2016 are presented below KINGBIRD COMPANY COMPARATIVE...
Condensed financial data of Kingbird Company for 2017 and 2016 are presented below KINGBIRD COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 Cash Receivables Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) 2017 2016 $1,840 $1,170 1,730 1,310 1,580 1,880 1,910 1,700 (1,210) (1,170) 1,310 1,420 $7,160 $6,310 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1,190 $900 260 1,400 1,580 1,880 1,720 2,480 1,850 $7,160 $6,310 210 KINGBIRD COMPANY INCOME STATEMENT FOR THE YEAR...
a. Net income for the year was $115,000 b. Dividends of $110,000 cash were declared and...
a. Net income for the year was $115,000 b. Dividends of $110,000 cash were declared and paid. c. Scoreteck's only noncash expense was $85,000 of depreciation. d. The company purchased plant assets for $85,000 cash. e. Notes payable of $35,000 were issued for $35,000 cash. plete the following spreadsheet in preparation of the statement of cash flows. (The statement of cash flows is not required) Report operating activities under the indirect method. (Enter all amounts as positive values.) SCORETECK CORPORATION...
What are the cash flows from financing activities? im very confused on what the financing activities...
What are the cash flows from financing activities? im very
confused on what the financing activities are and don't know how to
calculate them.
These are the finandal statements of Metro Meats Ltd METRO MEATS LTD P&L statement for 2015 METRO MEATS LTD Statement of Financial Position as at 31 December Sales revenue 250,000 Assets Cost of sales 2015 2014 210,000 Cash Gross prott 29,000 15,000 40.000 Accounts receivable Less 28,000 14,000 Iwentories 35,000 78,000 25,000 Selling expenses 18,000 Property,...
Condensed financial data of P Company appear below: P COMPANY Comparative Statements of Financial Position December 31 2017 2016 $315,000 $250,000 (65,000 (60,000) 75,000 25,000 132,000 53,000 71,00035,000 $635,000 $510,000 Plant assets Investments Prepaid expenses Inventories Accounts receivable Cash 90,000 19,000 120,000 85,000 Total Share capital-ordinary Retained earnings Bonds payable Accounts payable Accrued expenses payable $245,000 $170,000 81,000 160,000 75,000 138,000 130,000 Total $635,000 $510,000 P COMPANY Income Statement For the Year Ended December 31, 2017 Sales revenue Less: $470,000...
I. Condensed financial data of Mennan Company appear below: MENNAN COMPANY Comparative Balance Sheet December 31 2010 2009 Assets Cash $ 61,000 $ 35,000 Accounts receivable 75,000 53,000 Inventories 118,000 132,000 Prepaid expenses 21,000 25,000 Investments 100,000 75,000 Plant assets 325,000 250,000 Accumulated depreciation _(65,000) _(60.000) Total $635,000 $510,000 Liabilities and Stockholders' Equity Accounts payable $ 98,000 $ 75,000 Accrued expenses payable 24,000 24,000 Bonds payable 120,000 160,000 Common stock 275,000 170,000 Retained earnings 118.000 81.000 Total $635,000 $510,000 MENNAN...
Problem 12-9A Your answer is partially correct. Try again. Condensed financial data of Vaughn Manufacturing follow Vaughn Manufacturing Comparative Balance Sheets December 31 Assets 2017 2016 $109,080 $65,340 Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 51,300 138,848 35,100 147,150 118,530 151,875 38,340 186,300 384,750327,375 (67,500)(70,200) $921,375 $694,913 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock $ 137,700 22,275 148,500 297,000 315,900 $921,375 $90,855 28,350 197,100 236,250 142,358 $694,913 Retained...
The financial statements of Wetaskiwin Ltd., a private company reporting under ASPE, follow: WETASKIWIN LTD. Balance Sheet December 31 Assets 2021 Cash $9,000 Short-term notes receivable 14,000 Accounts receivable 28,000 Inventory 29,000 Property, plant, and equipment 73,000 Accumulated depreciation (30,000) Total assets $123,000 Liabilities and Shareholders' Equity Accounts payable $25,000 Income tax payable 3,000 Notes payable 15,000 Common shares 25,000 Retained earnings 55,000 Total liabilities and shareholders' equity $123,000 2020 $10,000 23,000 14,000 25,000 78,000 (24,000) $126,000 $43,000 20,000 10,000...
Supplements Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 230,000 Cost of Goods Sold 93,000 Gross Profit 137,000 Operating Expenses: Salaries Expense $ 57,000 Depreciation Expense Plant Assets 28,000 Total Operating Expenses 85,000 Net Income Before Income Taxes 52,000 Income Tax Expense 8,000 $ Net Income 44,000 c. a. Acquisition of plant assets is $118,000. Of this amount, $105,000 is paid in cash and $13,000 by signing a note payable. b. Cash receipt from sale...
Question 17 (2 points) Use the following information to answer questions 17-20. MARCOTTE MASONARY LTD. Statement of Financial Position December 31, 2015 $ 50,000 5,000 75,000 110,000 90,000 Accounts payable Salaries payable Mortgage payable Total liabilities $ 40,000 5,000 190,000 235,000 $220,000 Cash Prepaid insurance Accounts receivable Inventory Land Building -Accumulated depreciation Trademark -Accumulated amortisation Total assets Common shares Retained earnings Total shareholders' equity 200,000 105,000 305,000 160,000 60,000 $ 75,000 25,000 50,000 $540,000 Total liabilities and shareholders' equity $540,000...
Condensed financial data of Kingbird Company for 2017 and 2016 are presented below KINGBIRD COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 Cash Receivables Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) 2017 2016 $1,840 $1,170 1,730 1,310 1,580 1,880 1,910 1,700 (1,210) (1,170) 1,310 1,420 $7,160 $6,310 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1,190 $900 260 1,400 1,580 1,880 1,720 2,480 1,850 $7,160 $6,310 210 KINGBIRD COMPANY INCOME STATEMENT FOR THE YEAR...
a. Net income for the year was $115,000 b. Dividends of $110,000 cash were declared and paid. c. Scoreteck's only noncash expense was $85,000 of depreciation. d. The company purchased plant assets for $85,000 cash. e. Notes payable of $35,000 were issued for $35,000 cash. plete the following spreadsheet in preparation of the statement of cash flows. (The statement of cash flows is not required) Report operating activities under the indirect method. (Enter all amounts as positive values.) SCORETECK CORPORATION...
What are the cash flows from financing activities? im very
confused on what the financing activities are and don't know how to
calculate them.
These are the finandal statements of Metro Meats Ltd METRO MEATS LTD P&L statement for 2015 METRO MEATS LTD Statement of Financial Position as at 31 December Sales revenue 250,000 Assets Cost of sales 2015 2014 210,000 Cash Gross prott 29,000 15,000 40.000 Accounts receivable Less 28,000 14,000 Iwentories 35,000 78,000 25,000 Selling expenses 18,000 Property,...
Most questions answered within 3 hours.
-
find the critical value associated with a right sided hypothesis of
the mean using a sample...
asked 56 minutes ago -
Which of the following statements is true with respect to a
simple linear regression model?
a....
asked 1 hour ago -
The energy required to remove an electron from a surface of a
solid element is called...
asked 3 hours ago -
How would you train your employees to avoid risks of using
mobile devices?
asked 3 hours ago -
Assume Kw = 1.01 ✕ 10−14
For pure water, we can calculate [H3O+ ] = [OH...
asked 4 hours ago -
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 5 hours ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 5 hours ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 7 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 7 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 8 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 9 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 9 hours ago