Q1. Find the amount of Net Assets from the following information. (2M) Plant and Equipment &n
Q1. Find the amount of Net Assets from the following information. (2M)
Plant and Equipment 10,000
Account Receivables 3500
Account Payables 2500
Inventory 1,200
Cash and Temporary Investments 3,800
Homework Answers
accounting for International Accounting Standard (IAS®) 16, Property, Plant and Equipment is a particularly important area of the Financial Reporting syllabus. You can almost guarantee that in every exam you will be required to account for property, plant and equipment at least once.
This article is designed to outline the key areas of IAS 16, Property, Plant and Equipment that you may be required to attempt in the Financial Reporting exam
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Q1. Find the amount of Net Assets from the following
information. (2M)
Plant and
Equipment
&n
FINANCIAL MANAGEMENT FOR HEALTHCARE (HCM-213) Q4. Calculate the amount of Liabilities from the following informations. Cash...
FINANCIAL MANAGEMENT FOR HEALTHCARE (HCM-213) Q4. Calculate the amount of Liabilities from the following informations. Cash and Temporary Investments 3,800 Account receivables 10,000 Properties and equipment 4,000 Net assets 2,500 Inventory 1,200 Investments 5,000 Q5. The following are account balances (in thousands) for ALRAWDHA Health Plan. Prepare a balance sheet and statement of operations for the year ended December 31, 2017. Net property and equipment $ 2,000 Accounts receivable Medical claims payable Patient service revenue...
14. Accumulated depreciation amounts are shown as deductions from the cost of building and equipment accounts...
14. Accumulated depreciation amounts are shown as deductions from the cost of building and equipment accounts accounts receivable account. b, accounts payable account. prepaid insurance account. d. 15. A formal statement of the assets, liabilities, and owner's equity of a business at a specified date is known as a(n) balance sheet. b, c. statement of owner's equity. statement of cash flows 16. Cash and all other assets that may be reasonably expected to be converted to cash or consumed within...
Cash Accounts Receivable Merchandise Inventory Plant and Equipment Accumulated Depreciation - Plant and Equipment Total Assets...
Cash Accounts Receivable Merchandise Inventory Plant and Equipment Accumulated Depreciation - Plant and Equipment Total Assets 2019 $27,000 34,000 59,000 127,000 2018 $25,000 36,000 25,000 92,000 (Decrease) $2,000 (2,000) 34,000 35,000 (48,000) (44,000) $199,000 $134,000 (4,000) $65,000 Additional information provided by the company includes the following 1. Equipment was purchased for $70,000 with cash. 2. Equipment with a cost of $35,000 and accumulated depreciation of $7,100 was sold for $46,000 What was the amount of net cash provided by (used...
1. Using the attached information, calculate for 2015 and 2016 the following: a) Receivables turnover,Inventory turnover,...
1. Using the attached information, calculate for 2015
and 2016 the following:
a) Receivables turnover,Inventory turnover, and
Payable turnover.
b)Receivables period,Inventory period,and Payable
period.
c)Operating Cycle and Cash Conversion cycle
2. Discuss the changes that took place from 2015 to
2016 and suggest the ways how the company could improve its
performance
Balance Sheets for Years Ended 2014, 2015, and 2016 ASSETS 2014 2015 2016 Cash and marketable securities Receivables Inventories Total current assets Grass plant and equipment less accumulated...
The blue highlighted box is where you have to put the amount, so like the assets,...
The blue highlighted box is where you have to put the amount, so
like the assets, the first 2 accounts goes on the credit side and
then the second 2 accounts is in the debit side. This is reposted
because the first person had the whole ASSETS part incorrect, but
the LIABILITIES AND SHAREHOLDER'S EQUITY, they got it correct,
unless you find another missing account etc.,
The following is the ending balances of accounts at December 31, 2021, for the...
STATEMENT OF FINANCIAL POSITION AS AT END OF YEAR 1 £000 £000 Non current assets Equipment...
STATEMENT OF FINANCIAL POSITION AS AT END OF YEAR 1 £000 £000 Non current assets Equipment NBV 6.25 Current assets Inventory Receivables Cash 20.1 48.35 Total Assets 56.35 Non current liabilities Bank Loan Current Liabilities Payables: inventory Payables: admin 1.5 9.5 Equity Capital Reserves 4.85 22.85 Net Assets (Assets - Liabilities) 22.85 Note: The equipment purchased in year 1 had originally cost €10,000 with a useful life of 5 years, no residual value. The Straight line depreciation approach is used...
Given the following information calculate the amount of current liabilities. Provision for bad debt $23,800 Cash...
Given the following information calculate the amount of current liabilities. Provision for bad debt $23,800 Cash $30,000 Patient revenues (net of contractuals) $275,000 Net accounts receivable $42,100 Ending balance, temporarily restricted net assets $15,900 Wages payable $6,500 Inventory $2,800 Long-term debt $143,000 Supply expense $55,000 Gross plant, property, and equipment $290,000 Net assets released from temporary restriction $2,100 Depreciation expense $13,000 Accounts payable $15,000 Beginning balance, temporarily restricted net assets $18,000 Interest expense $9,000 Labor expense $119,000 A) 15,000 B)...
The following information is taken from records of ABC Company: Items Amount Account receivables 30000 Inventory...
The following information is taken from records of ABC Company: Items Amount Account receivables 30000 Inventory 80000 Cash 10000 Prepaid expense 6000 Equipment’s 60000 Land 100000 Building 40000 Wages payable 5000 Account payables 30000 Notes payable 25000 Long term liabilities 70000 Owners’ Equity 196000 Sales revenue 150000 Cost of goods sold 125000 Net income 25000 According to above information, answer the following questions: The company’s gross profit margin is: 60% 55% None of the above The company’s net profit margin...
At December 31, 2021 Assets: Cash Short-term investments Accounts receivable (net) Inventory Property, plant, and equipment...
At December 31, 2021 Assets: Cash Short-term investments Accounts receivable (net) Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity: Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and shareholders' equity $ 220 550 650 800 1,150 $ 3,370 $ 800 950 500 1,120 $ 3,370 Selected 2021 income statement information for Altoid Co. includes: Net Sales Operating expenses Income before interest and tax Interest expense Income tax expense Net income $ 8,400 7,350 1,050...
what was the net cash flow from operating activities? The following data is from the comparative...
what was the net cash flow from operating activities?
The following data is from the comparative balance sheets of Wilson Company: 2004 Cash Accounts Receivable Inventory Prepaid Insurance Investments Equipment Accum. Depreciation Totals $55,500 64,500 98,700 800 5,000 100,000 (32,000) 292,500 2003 $32,400 73,200 97,900 1,200 15,000 87,000 (22,000) 284,700 Accounts Payable Bonds Payable Common Stock Retained Earnings Totals 14,100 60,000 120,000 98,400 292,500 18,300 80,000 100,000 86,400 284,700 Here is some additional information Investments Equipment Accum. Depreciation Totals 5,000...
14. Accumulated depreciation amounts are shown as deductions from the cost of building and equipment accounts accounts receivable account. b, accounts payable account. prepaid insurance account. d. 15. A formal statement of the assets, liabilities, and owner's equity of a business at a specified date is known as a(n) balance sheet. b, c. statement of owner's equity. statement of cash flows 16. Cash and all other assets that may be reasonably expected to be converted to cash or consumed within...
Cash Accounts Receivable Merchandise Inventory Plant and Equipment Accumulated Depreciation - Plant and Equipment Total Assets 2019 $27,000 34,000 59,000 127,000 2018 $25,000 36,000 25,000 92,000 (Decrease) $2,000 (2,000) 34,000 35,000 (48,000) (44,000) $199,000 $134,000 (4,000) $65,000 Additional information provided by the company includes the following 1. Equipment was purchased for $70,000 with cash. 2. Equipment with a cost of $35,000 and accumulated depreciation of $7,100 was sold for $46,000 What was the amount of net cash provided by (used...
1. Using the attached information, calculate for 2015
and 2016 the following:
a) Receivables turnover,Inventory turnover, and
Payable turnover.
b)Receivables period,Inventory period,and Payable
period.
c)Operating Cycle and Cash Conversion cycle
2. Discuss the changes that took place from 2015 to
2016 and suggest the ways how the company could improve its
performance
Balance Sheets for Years Ended 2014, 2015, and 2016 ASSETS 2014 2015 2016 Cash and marketable securities Receivables Inventories Total current assets Grass plant and equipment less accumulated...
The blue highlighted box is where you have to put the amount, so
like the assets, the first 2 accounts goes on the credit side and
then the second 2 accounts is in the debit side. This is reposted
because the first person had the whole ASSETS part incorrect, but
the LIABILITIES AND SHAREHOLDER'S EQUITY, they got it correct,
unless you find another missing account etc.,
The following is the ending balances of accounts at December 31, 2021, for the...
STATEMENT OF FINANCIAL POSITION AS AT END OF YEAR 1 £000 £000 Non current assets Equipment NBV 6.25 Current assets Inventory Receivables Cash 20.1 48.35 Total Assets 56.35 Non current liabilities Bank Loan Current Liabilities Payables: inventory Payables: admin 1.5 9.5 Equity Capital Reserves 4.85 22.85 Net Assets (Assets - Liabilities) 22.85 Note: The equipment purchased in year 1 had originally cost €10,000 with a useful life of 5 years, no residual value. The Straight line depreciation approach is used...
At December 31, 2021 Assets: Cash Short-term investments Accounts receivable (net) Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity: Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and shareholders' equity $ 220 550 650 800 1,150 $ 3,370 $ 800 950 500 1,120 $ 3,370 Selected 2021 income statement information for Altoid Co. includes: Net Sales Operating expenses Income before interest and tax Interest expense Income tax expense Net income $ 8,400 7,350 1,050...
what was the net cash flow from operating activities?
The following data is from the comparative balance sheets of Wilson Company: 2004 Cash Accounts Receivable Inventory Prepaid Insurance Investments Equipment Accum. Depreciation Totals $55,500 64,500 98,700 800 5,000 100,000 (32,000) 292,500 2003 $32,400 73,200 97,900 1,200 15,000 87,000 (22,000) 284,700 Accounts Payable Bonds Payable Common Stock Retained Earnings Totals 14,100 60,000 120,000 98,400 292,500 18,300 80,000 100,000 86,400 284,700 Here is some additional information Investments Equipment Accum. Depreciation Totals 5,000...
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