E1-21A. (Learning Objectives 3, 4: Using the accounting equation; preparing a Balance Sheet) Amounts of the...
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E1-21A. (Learning Objectives 3, 4: Using the accounting equation; preparing a Balance Sheet) Amounts of the assets and liabilities of Angelababy Company, as of January 31, 20X6, are given as follows. The revenue and expense figures for the year ended on that date (amounts in millions) are also included: Total revenue... Receivables.......... Current liabilities. $38.8 Investments. $15.0 0.8 2.0 Property and equipment, net. Other expenses. 16.6 6.7 Share capital......... 14.3 Interest expense...... 0.7 Retained earnings, beginning....... Retained earnings, ending............ 8.2 2 Salary and other employee expenses.... 17.5 2.5 Long-term liabilities......................... 3.0 Other assets 5.0 Requirement 1. Prepare the Balance Sheet of Angelababy Company at January 31, 20X6. Use the account- ing equation to compute ending retained earnings. E1-22A. (Learning Objective 3, 4: Preparing an Income Statement and a Statement of Changes in Equity) This exercise should be used with Exercise 1-21A. Refer to the data of Angelababy Company in Exercise 1-21A. Requirements 1. Prepare the Income Statement of Angelababy Company, for the year ended January 31, 20X6. 2. What amount of dividends did Angelababy declare during the year ended January 31, 20X6? Hint: Prepare a statement of changes in equity. E1-21A. (Learning Objectives 3, 4: Using the accounting equation; preparing a Balance Sheet) Amounts of the assets and liabilities of Angelababy Company, as of January 31, 20X6, are given as follows. The revenue and expense figures for the year ended on that date (amounts in millions) are also included: Total revenue... Receivables.......... Current liabilities. $38.8 Investments. $15.0 0.8 2.0 Property and equipment, net. Other expenses. 16.6 6.7 Share capital......... 14.3 Interest expense...... 0.7 Retained earnings, beginning....... Retained earnings, ending............ 8.2 2 Salary and other employee expenses.... 17.5 2.5 Long-term liabilities......................... 3.0 Other assets 5.0 Requirement 1. Prepare the Balance Sheet of Angelababy Company at January 31, 20X6. Use the account- ing equation to compute ending retained earnings. E1-22A. (Learning Objective 3, 4: Preparing an Income Statement and a Statement of Changes in Equity) This exercise should be used with Exercise 1-21A. Refer to the data of Angelababy Company in Exercise 1-21A. Requirements 1. Prepare the Income Statement of Angelababy Company, for the year ended January 31, 20X6. 2. What amount of dividends did Angelababy declare during the year ended January 31, 20X6? Hint: Prepare a statement of changes in equity.
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Related Book For
Intermediate Accounting
ISBN: 978-1119048541
11th Canadian edition Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
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