Preparing INCOME STATEMENT for year ending 2017
Particular | Amount in $ |
Sales | 350200 |
Cost of Goods Sold | (141800) |
Fixed Costs | (43100) |
Depreciation | (46100) |
Selling,general & Admin exp | (27900) |
Earning before Interest & Taxes(EBIT) | 91300 |
Interest Expenses | (18100) |
Earning Before tax(EBT) | 73200 |
Tax@40% | (29280) |
Net Income | 43920 |
Preparing balance Sheet for the year 2016
Assets | Liabilities & Owner's equity | ||
Cash | 16100 | Notes Payable | 14000 |
Accounts Receivables | 28200 | Accounts payable | 19100 |
Inventory | 47900 | ||
Total Current Asset | 92200 | Total Current Liabilities | 33100 |
Fixed Assets 367800 | Long term debt | 190000 | |
Less: Acc. Dep (142000) | 225800 | Common Stock | 131900 |
Intangible assets | 82200 | Retained earnings (balancing Fig) | 45200 |
400200 | 400200 |
Preparing balance Sheet for the year 2017
Assets | Liabilities & Owner's equity | ||
Cash | 26100 | Notes Payable | 12100 |
Accounts Receivables | 19000 | Accounts payable | 23800 |
Inventory | 52900 | ||
Total Current Asset | 98000 | Total Current Liabilities | 35900 |
Fixed Assets 448000 | Long term debt | 161900 | |
Less: Acc. Dep* (188100) | 259900 | Common Stock | 182000 |
Intangible assets | 82000 | Retained earnings (balancing Fig) | 60100 |
439900 | 439900 |
*- Previous Years Accumulated Depreciation added with this years Depreciation = (142000+46100)
Cash Flow to owners = Dividend paid - Net new Equity Issued
Dividend Paid = Opening retained earning of 2017 + Profit of 2017 - Closing retained earning of 2017
= 45200 + 43920 - 60100
= $ 29020
Net New Equity Issued = Closing Common Stock - Opening Common Stock
= 182000 - 1319000
= $ 50100
Cash Flow to owners for 2017 = 29020 - 50100
= - $ 21080
Cash flow to owners. Use the data from the following financial statements in the popup window,...
Use the data from the following financial statements in the popup window. The company paid interest expense of $17,700 and had an overall tax rate of 40 % for 2017. Complete the statement of retained earnings for 2017, and determine the dividends paid last year. (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Income Statement Year Ending 2017 Sales revenue $350,000 Cost of goods sold $141,900 Fixed costs $43,100 Selling, general, and administrative...
Cash flow to owners. Use the data from the following financial statements in the popup window, The company paid interest expense of $18,000 for 2017 and had an overall tax rate of 40% for 2017. Find the cash flow to owners for 2017 by parts and total, with the parts being dividends paid and increases in borrowing from owners (change in common stock and paid-in-surplus). The distributed earnings is $ . (Round to the nearest dollar.) rarua come Jalement Tea...
Statement of retained earnings. Use the data from the following financial statements in the popup window, BB. The company paid interest expense of $18,800 for 2017 and had an overall tax rate of 40% for 2017. Complete the statement of retained earnings for 2017, and determine the dividends paid last year. The distributed earnings is $ . (Round to the nearest dollar.) Partial Income Statement Year Ending 2017 Sales revenue $350,200 Cost of goods sold $141,900 Fixed costs $42,900 Selling,...
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Cash flow to owners. Use the data from the following financial statements in the popup window, LOADING... . The company paid interest expense of $ 18 comma 700$18,700 for 20172017 and had an overall tax rate of 40 %40% for 20172017. Find the cash flow to owners for 20172017 by parts and total, with the parts being dividends paid and increases in borrowing from owners (change in common stock and paid-in-surplus). 1Data Table Partial Income Statement Year Ending 2017 Sales...
TH Data Table Partial Income Statement Year Ending 2017 Sales revenue $349,800 Cost of goods sold $141,800 Fixed costs $43,200 Selling, general, and administrative expenses $28,100 Depreciation $46,200 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 ASSETS LIABILITIES Cash $14,000 $19,100 $190,000 Accounts receivable Inventories $15,800 Notes payable $28,200 Accounts payable $47,800 Long-term debt $368,000 OWNERS' EQUITY $142,600 Retained earnings $82,000 Common stock Fixed assets Accumulated depreciation Intangible assets $132,000...
Data Table 1. depi ed all (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Income Statement Year Ending 2017 Sales revenue $350,200 Cost of goods sold R$ 142,000 Fixed costs $43,000 Selling, general, and administrative expenses $27,800 Depreciation $45,800 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 ASSETS LIABILITIES Cash $16,100 Notes payable Accounts receivable $28,000 Accounts payable Inventories $48,000 Long-term debt Fixed...
the net fixed assets for the year 2016 is? the net fixed assets for year 2017 is? (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Income Statement Year Ending 2017 Sales revenue $349,900 Cost of goods sold $141,900 Fixed costs $42,900 Selling, general, and administrative expenses $27,900 Depreciation $46,100 W (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 ASSETS LIABILITIES Cash $15,900 Notes...
Please answer, Im posting again because the answer is not 28,740 like the last person said. P2-9 (similar to) Question Help Statement of retained earnings. Use the data from the following financial statements in the popup window, . The company paid interest expense of $17,100 for 2017 and had an overall tax rate of 40% for 2017. Complete the statement of retained earnings for 2017, and determine the dividends paid last year. The distributed earnings is $ . (Round to...
Sales revenue 350,200 Cost of goods sold 141,800 Fixed costs 42,800 Selling, general, and administrative expenses 28,100 Depreciation 45,900 ASSETS LIABILITIES Cash 16,200 Notes payable 14,100 Accounts receivable 27,900 Accounts payable 19,100 Inventories 47,900 Long-term debt 189,900 Fixed assets 367,800 OWNERS' EQUITY Accumulated depreciation 140,100 Retained earnings Intangible assets 81,800 Common stock 131,900 ASSETS LIABILITIES Cash 25,900 Notes payable 11,800 Accounts receivable 18,900 Accounts payable 23,800 Inventories 52,800 Long-term debt 162,100 Fixed assets 447,900 OWNERS' EQUITY Accumulated depreciation ...