Prepare the Group Consolidated Balance Sheet for the year to 31 December 2007 (a) (b) (c) Record all the necessary Journal entries in the parent company Record all the necessary worksheet entries required to prepare the consolidated statement of financial position. group Plant assets Investment 300+153 450 80 50 Inventory197 A/R Cash Total A/P 110 50 95 30 63 40 180 50 1330348 170 200 40 14 NCI Share Cap 700 200 100 RE Total 108 56 430 1330 348 170
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ACCT 401- Assignment- Below are the Balance Sheets of Alpha, Beta and Gamma Ltd for the year to 3...
Question Completion Status: QUESTION1 Alpha Corporation owns 100 percent of Beta Company, and Beta owns 80...
Question Completion Status: QUESTION1 Alpha Corporation owns 100 percent of Beta Company, and Beta owns 80 percent of Gamma, Inc, all of which are domestic corporations. There were no excess allocation values at the date of acquisition of the subsidiaries. Information for the three companies for the year ending December 31, 2018 follows: Alpha 300, Beta Gamma 100, Separate company net income Gross profit from intra-entity transfers of inventory (included in operating income above). The goods have not yet been...
Can someone solve this please? The following are the financial statements of the parent company Alpha...
Can someone solve this please?
The following are the financial statements of the parent company Alpha plc, a subsidiary company Beta and an associate company Gamma. Statements of financial position as at 31 December 20X9 Alpha Beta Gamma 256,500 202,500 540,000 216,000 156,600 54,000 72,900 135,000 91,800 ASSETS Non-current assets Land at cost Investment in Beta Investment in Gamma Current assets Inventories Trade receivables Dividend receivable from Beta Dividend receivable from Gamma Current account - Beta Current account - Gamma...
Use the information below answer questions 1-3: • Management is considering five different projects (Alpha, Beta,...
Use the information below answer questions 1-3: • Management is considering five different projects (Alpha, Beta, Delta, Gamma, Theta) • There are no cash flows to consider besides the initial cash outlay and the payoff • All payoffs are expected in two years Project Alpha Beta Delta Gamma Theta Probabilty [Failure] 80% 60% 50% 40% 20% Payoff [Success] $ 320 $ 280 $ 400 $ 150 $ 150 Payoff [Failure] $ 280$ $ 200 $ $ 190 $ $ 140...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses $ 155200 250 170 20 640 780 230 200 20 605 790 Total current assets Plant and equipment, net Total assets $1,395 $1,420 Liabilities and Stockholders' Equity Current liabilities: $ 170 200 50 40 290 190 480 Accounts payable Accrued liabilities Notes...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses $ 200 320 290 20 830 1,060 $1,890 $ 290 340 260 20 910 1,140 $2,050 Total current assets Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: $ 260 50 40 350 250 600 $ 290 50 40...
Tailoka's summarized financial statements for the year ended 31 March 2019 are sol out below K...
Tailoka's summarized financial statements for the year ended 31 March 2019 are sol out below K million 4,000 (3,450) 550 (370) 40 180 Statement of Profit Or Loss Revenue (25% cash sales) Cost of sales Gross profit Operating experises Profit on disposal of plant Finance charges Profit before tax Income tax expense Profit for the period Dividend paid Retained profit for the year (20) 200 (50) 150 50 100 K'million K million 550 Statement of Financial Position Non-current assets Property,...
Creating Balance Sheets and Income Statements Using the information in the below table, prepare a classified...
Creating Balance Sheets and Income
Statements
Using the information in the below table, prepare a classified
balance sheet for Arrow Company as of December 31, 2014 and
December 31, 2015, along with multi-step income statements for the
years then ended.
Account
December 31, 2014
December 31, 2015
Property, plant, and equipment (net)
$650
$735
Long-term debt
490
690
Depreciation expense
50
60
Retained earnings
130
295
Sales revenue
1,000
1,500
Income taxes
50
70
Current portion of long-term debt
50...
dends payable E3-9 Prepare stockholders' equity section of consolidated balance sheet one year after acquisition Pam...
dends payable E3-9 Prepare stockholders' equity section of consolidated balance sheet one year after acquisition Pam and Sun Corporations' balance sheets at December 31, 2015, are summarized as follows (in thousands): 26 of 33 Pam Sun Cash Other assets 1,020 800 $1,820 80 1,200 200 140 $1,820 240 700 Total assets Liabilities Capital stock, par $10 Additional paid-in capital Retained earnings Total equities $940 $ 140 700 60 40 $940 Pam acquired 80 percent of the voting stock of Sun...
Below are the statements of financial position of ABC Ltd for the financial year ending 31...
Below are the statements of financial position of ABC Ltd for the financial year ending 31 December 2019 and 2018 together with additional information related to other events in the 31 December 2019 financial year. ABC Balance Sheet as at 31 December 2019 2019 2018 Assets Cash Accounts receivables Inventory Prepaid expenses Long-term investments Land Buildings and equipment Accumulated depreciation TOTAL ASSETS 30 000 410 000 300 000 20 000 50 000 560 000 2 000 000 -800 000 2...
Financial statements for Zachary Company follow. ZACHARY COMPANY Balance Sheets As of December 31 Year 4 Year 3 Asse...
Financial statements for Zachary Company follow. ZACHARY COMPANY Balance Sheets As of December 31 Year 4 Year 3 Assets Current assets Cash 25,500 $21,500 Marketable securities 21,900 7,900 Accounts receivable (net) Inventories 60,000 52,000 145,000 29,000 153,000 14,000 Prepaid items Total current assets 281,400 22,000 248,400 15,000 Investments Plant (net) 260,000 245,000 Land 29,000 24,000 $592,400 $532,400 Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities $ 39,200 $ 10,800 Notes payable Accounts payable Salaries payable 73,800 60,000 22,000 16,000...
Question Completion Status: QUESTION1 Alpha Corporation owns 100 percent of Beta Company, and Beta owns 80 percent of Gamma, Inc, all of which are domestic corporations. There were no excess allocation values at the date of acquisition of the subsidiaries. Information for the three companies for the year ending December 31, 2018 follows: Alpha 300, Beta Gamma 100, Separate company net income Gross profit from intra-entity transfers of inventory (included in operating income above). The goods have not yet been...
Can someone solve this please?
The following are the financial statements of the parent company Alpha plc, a subsidiary company Beta and an associate company Gamma. Statements of financial position as at 31 December 20X9 Alpha Beta Gamma 256,500 202,500 540,000 216,000 156,600 54,000 72,900 135,000 91,800 ASSETS Non-current assets Land at cost Investment in Beta Investment in Gamma Current assets Inventories Trade receivables Dividend receivable from Beta Dividend receivable from Gamma Current account - Beta Current account - Gamma...
Use the information below answer questions 1-3: • Management is considering five different projects (Alpha, Beta, Delta, Gamma, Theta) • There are no cash flows to consider besides the initial cash outlay and the payoff • All payoffs are expected in two years Project Alpha Beta Delta Gamma Theta Probabilty [Failure] 80% 60% 50% 40% 20% Payoff [Success] $ 320 $ 280 $ 400 $ 150 $ 150 Payoff [Failure] $ 280$ $ 200 $ $ 190 $ $ 140...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses $ 155200 250 170 20 640 780 230 200 20 605 790 Total current assets Plant and equipment, net Total assets $1,395 $1,420 Liabilities and Stockholders' Equity Current liabilities: $ 170 200 50 40 290 190 480 Accounts payable Accrued liabilities Notes...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses $ 200 320 290 20 830 1,060 $1,890 $ 290 340 260 20 910 1,140 $2,050 Total current assets Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: $ 260 50 40 350 250 600 $ 290 50 40...
Tailoka's summarized financial statements for the year ended 31 March 2019 are sol out below K million 4,000 (3,450) 550 (370) 40 180 Statement of Profit Or Loss Revenue (25% cash sales) Cost of sales Gross profit Operating experises Profit on disposal of plant Finance charges Profit before tax Income tax expense Profit for the period Dividend paid Retained profit for the year (20) 200 (50) 150 50 100 K'million K million 550 Statement of Financial Position Non-current assets Property,...
Creating Balance Sheets and Income
Statements
Using the information in the below table, prepare a classified
balance sheet for Arrow Company as of December 31, 2014 and
December 31, 2015, along with multi-step income statements for the
years then ended.
Account
December 31, 2014
December 31, 2015
Property, plant, and equipment (net)
$650
$735
Long-term debt
490
690
Depreciation expense
50
60
Retained earnings
130
295
Sales revenue
1,000
1,500
Income taxes
50
70
Current portion of long-term debt
50...
dends payable E3-9 Prepare stockholders' equity section of consolidated balance sheet one year after acquisition Pam and Sun Corporations' balance sheets at December 31, 2015, are summarized as follows (in thousands): 26 of 33 Pam Sun Cash Other assets 1,020 800 $1,820 80 1,200 200 140 $1,820 240 700 Total assets Liabilities Capital stock, par $10 Additional paid-in capital Retained earnings Total equities $940 $ 140 700 60 40 $940 Pam acquired 80 percent of the voting stock of Sun...
Below are the statements of financial position of ABC Ltd for the financial year ending 31 December 2019 and 2018 together with additional information related to other events in the 31 December 2019 financial year. ABC Balance Sheet as at 31 December 2019 2019 2018 Assets Cash Accounts receivables Inventory Prepaid expenses Long-term investments Land Buildings and equipment Accumulated depreciation TOTAL ASSETS 30 000 410 000 300 000 20 000 50 000 560 000 2 000 000 -800 000 2...
Financial statements for Zachary Company follow. ZACHARY COMPANY Balance Sheets As of December 31 Year 4 Year 3 Assets Current assets Cash 25,500 $21,500 Marketable securities 21,900 7,900 Accounts receivable (net) Inventories 60,000 52,000 145,000 29,000 153,000 14,000 Prepaid items Total current assets 281,400 22,000 248,400 15,000 Investments Plant (net) 260,000 245,000 Land 29,000 24,000 $592,400 $532,400 Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities $ 39,200 $ 10,800 Notes payable Accounts payable Salaries payable 73,800 60,000 22,000 16,000...
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