Please solve using the shown Workbook in excel
Balance Sheet & Income Statement Coast Ltd., which has just started trading on 1 January 2019. has the following account balances prior to the recording of the final month of the year: Account Balances as at 30 November 2019 Account $ Cash $5 300 Accounts receivable $6 400 Stock of Supplies $11 600 Property, Plant & Equipment -cost $36 000 Accounts payable $3 000 Interest payable S 100 Bank Loan $12 000...
Please show in excel like above,
thanks!
Balance Sheet & Income Statement Coast Ltd., which has just started trading on 1 January 2019. has the following account balances prior to the recording of the final month of the year: Account Balances as at 30 November 2019 Account $ Cash $5 300 Accounts receivable $6 400 Stock of Supplies $11 600 Property, Plant & Equipment -cost $36 000 Accounts payable $3 000 Interest payable S 100 Bank Loan $12 000 Contributed...
Assets Cash and short-term investments $43000 Accounts receivable (net) 43000 Inventory 29000 Property, plant and equipment 237000 Total Assets $352000 Liabilities and Stockholders' Equity Current liabilities $56000 Long-term liabilities 76000 Stockholders' equity-common 220000 Total Liabilities and Stockholders' Equity $352000 Income Statement Sales revenue $95000 Cost of goods sold 50000 Gross profit 45000 Operating expenses 13320 Net income $31680 Number of shares of common stock 6000 Market price of common stock $17 Dividends per share on common stock 0.8 Cash provided...
QUESTION THREE [20]
The following information relating to property plant and equipment
was extracted from
the accounting records of Sandile’s Supermarket:
1. Balances at 28 February 2018:
- Equipment at cost R 56 000
- Accumulated depreciation: equipment R 10 860
- Vehicles at cost R560 000
- Accumulated depreciation: vehicles R285 360
2. The following transactions in respect of property, plant and
equipment took place
during the current financial year:
2.1 An old vehicle was sold on 31 August...
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...
Question 2 At January 1, 2018, Crane Limited reported the following property, plant, and equipment accounts: Accumulated depreciation-buildings Accumulated depreciation-equipment Buildings Equipment Land $62,800,000 52,600,000 89,700,000 162,600,000 18,100,000 The company uses straight-line depreciation for buildings and equipment, its year end is December 31, and it makes adjusting entries annually. The buildings are estimated to have a 40-year useful life and no residual value; the equipment is estimated to have a 10-year useful life and no residual value. During 2018, the...
Please solve using the shown Workbook in excel
Balance Sheet & Income Statement Coast Ltd., which has just started trading on 1 January 2019. has the following account balances prior to the recording of the final month of the year: Account Balances as at 30 November 2019 Account $ Cash $5 300 Accounts receivable $6 400 Stock of Supplies $11 600 Property, Plant & Equipment -cost $36 000 Accounts payable $3 000 Interest payable S 100 Bank Loan $12 000...
Please show in excel like above,
thanks!
Balance Sheet & Income Statement Coast Ltd., which has just started trading on 1 January 2019. has the following account balances prior to the recording of the final month of the year: Account Balances as at 30 November 2019 Account $ Cash $5 300 Accounts receivable $6 400 Stock of Supplies $11 600 Property, Plant & Equipment -cost $36 000 Accounts payable $3 000 Interest payable S 100 Bank Loan $12 000 Contributed...
December 31 Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total 2022 $ 38,500 22,000 30,800 66,000 (35,200 ) $122,100 2021 $ 22,000 15,400 22,000 85,800 (26,400) $118,800 $ 16,500 8.800 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $ 20,900 7,700 18.700 19.800 36,300 15,400 S5,000 $122.100 $118,30 $266,200 192.500 73,700 Marigold Conany Income Statement For the Year Ended December 31, 2022 Sales revenue Cost of goods sold Gross...
2019 2018 Assets Current Assets: Cash Accounts Receivable Inventory Supplies Prepaid Rent Total Current Assets Property, Plant and Equipment: Equipment Less: Accumulated Depreciation Property. Plant and Equipment. Total Assets $475,326 28,355 436,200 85,321 20,322 1,045,524 $384,569 72,355 284,513 60,240 15,638 817,315 400,500 45,210 355,290 $1,400.814 332,680 35,291 297,389 $1,114,704 Liabilities and Stockholders' Equity Current Liabilities: Accounts Payable 50,546 Unearned Revenue 48,956 Income Taxes Payable 3,521 Total Current Liabilities 103,023 Long-term Debt 369,875 Total Liabilities 472,898 Stockholders' Equity Contributed Capital 406,570...
Assets Cash and short-term investments $43000 Accounts receivable (net) 43000 Inventory 29000 Property, plant and equipment 237000 Total Assets $352000 Liabilities and Stockholders' Equity Current liabilities $56000 Long-term liabilities 76000 Stockholders' equity-common 220000 Total Liabilities and Stockholders' Equity $352000 Income Statement Sales revenue $95000 Cost of goods sold 50000 Gross profit 45000 Operating expenses 13320 Net income $31680 Number of shares of common stock 6000 Market price of common stock $17 Dividends per share on common stock 0.8 Cash provided...
QUESTION THREE [20]
The following information relating to property plant and equipment
was extracted from
the accounting records of Sandile’s Supermarket:
1. Balances at 28 February 2018:
- Equipment at cost R 56 000
- Accumulated depreciation: equipment R 10 860
- Vehicles at cost R560 000
- Accumulated depreciation: vehicles R285 360
2. The following transactions in respect of property, plant and
equipment took place
during the current financial year:
2.1 An old vehicle was sold on 31 August...
Adjusted Trial Balance December 31st 2019 Debit Credit Cash 126587 Accounts receivable 13500 Allowance for uncollectible accounts 405 Interest receivable 75 Supplies Prepaid insurance inventory Notes receivable 1800 5500 5328 15000 Buildings Gain 62000 2300 Accumulated depreciation Accounts payable Deferred revenue 200 3200 3480 Salaries payable Income tax payable Warranty liability Notes payable 1200 3700 450 113670 Common stock 96000 Dividends 1600 Service revenue 7830 Sales revenue 36000 Sales discounts 150 75 Interest revenue Bad debt expense Cost of goods...
financials:
question:
2019 2018 Assets Current Assets: Cash Accounts Receivable Inventory Supplies Prepaid Rent Total Current Assets Property, Plant and Equipment: Equipment Less: Accumulated Depreciation Property, Plant and Equipment, net Total Assets $475,326 28,355 436,200 85,321 20,322 1,045,524 $384,569 72,355 284,513 60,240 15,638 817,315 400,500 45,210 355,290 $1,400,814 332,680 35,291 297,389 $1,114,704 Liabilities and Stockholders' Equity Current Liabilities: Accounts Payable Uneamed Revenue Income Taxes Payable Total Current Liabilities Long-term Debt Total Liabilities Stockholders' Equity Contributed Capital Retained Earings Total Stockholders'...
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...
Question 2 At January 1, 2018, Crane Limited reported the following property, plant, and equipment accounts: Accumulated depreciation-buildings Accumulated depreciation-equipment Buildings Equipment Land $62,800,000 52,600,000 89,700,000 162,600,000 18,100,000 The company uses straight-line depreciation for buildings and equipment, its year end is December 31, and it makes adjusting entries annually. The buildings are estimated to have a 40-year useful life and no residual value; the equipment is estimated to have a 10-year useful life and no residual value. During 2018, the...