Here are comparative statements of financial position for Syal SE. Additional information: 1. Net income for 2017
Question:
Additional information:
1. Net income for 2017 was ¬103,000.
2. Depreciation expense was ¬32,000.
3. Cash dividends of ¬45,000 were declared and paid.
4. Bonds payable amounting to ¬50,000 were redeemed for cash ¬50,000.
5. Ordinary shares were issued for ¬42,000 cash.
6. No equipment was sold during 2017.
7. Land was sold for its book value of ¬27,000.
Instructions
Prepare a statement of cash flows for 2017 using the indirect method.
Transcribed Image Text:
SYAL SIE Comparative Statements of Financial Position December 31 Assets Land Equipment Accumulated depreciation-equipment Inventory Accounts receivable Cash 2017 73,000 260,000 (66,000) 170,000 85,000 73,000 595,000 2016 100,000 200,000 (34,000) 187,000 71,000 33,000 557,000 Total Equity and Liabilities Share capital-ordinary (1 par) Retained earnings Bonds payable Accounts payable 216,000 194,000 150,000 35,000 595,000 174,000 136,000 200,000 47,000 557,000 Total
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (16 reviews)
SYAL SE Statement of Cash Flows For the Year Ended December 31 2017 Cash flows from op...View the full answer
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-1118978085
IFRS 3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Cost Accounting questions
-
Presented below are comparative statements of financial position for the Gilmour Company. Instructions (Round to two decimal places.) (a) Prepare a comparative statement of financial position of...
-
Presented below are comparative statements of financial position for the Ozturk Ltd. Instructions (Round to two decimal places.) a. Prepare a comparative statement of financial position of Ozturk...
-
Here are comparative statements of financial position for Syal SE. Additional information: 1. Net income for 2020 was 103,000. 2. Depreciation expense was 32,000. 3. Cash dividends of 45,000 were...
-
Gray Corporation began operations on January 1, 2017. The following information is available for Gray Corporation on December 31, 2017. Prepare an income statement, a retained earnings statement, and...
-
Context-sensitive nature of cost behavior classifications Warren and Carter Tax Services Development Department is responsible for establishing new community branches. Each branch opens with two tax...
-
Solomon Company would like to compare its days sales in receivables with that of a competitor, L. Konrath Company. Both companies have had similar sales results in the past, but L. Konrath Company...
-
Consider a random walk \(\left\{y_{t} ight\}\) as the partial sum of a white noise process \(\left\{c_{t} ight\}\). a. Show that the \(l\)-step forecast error is...
-
Office Mate Supplies Inc. has cash and carry customers and credit customers. Office Mate estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers....
-
Suppose Tree City Sporting Goods Company reported the following data at July 31, 2021, with amounts in thousands: (Click the icon to view the data.) Use these data to prepare Tree City Sporting Goods...
-
The Tastee Bakery Company supplies a bakery product to many supermarkets in a metropolitan area. The company wishes to study the effect of the height of the shelf display employed by the supermarkets...
-
Meera Ltd.'s comparative statements of financial position are presented below. Additional information: 1. Net income was £22,590. Dividends declared and paid were £16,500. 2. All other...
-
Cassandra SA's comparative statements of financial position are presented below. Additional information: 1. Net income was ¬23,300. Dividends declared and paid were ¬14,600. 2. Equipment that...
-
Give three examples of a transaction processing system.
-
A car trip lasts 3h 36 min at 86 km/h, including a half-hour break for lunch. How much time would we save by driving at 100 km/h without taking a break? (When the automobile is moving, we assume that...
-
Keri, in forming a new corporation, transfers land to the corporation in exchange for 100 percent of the stock of the corporation. Keri's basis in the land is $295,000, and the corporation assumes a...
-
Develop a 3-year financial projection for your proposed cancer tele-genetics program . State any and all assumptions you make in creating your estimates. Please consider the following in creating...
-
The Adams family includes a financially well-informed couple, both aged 36, and two children aged 4 and 6. The family is financially sound but suffered badly during the tech meltdown in 2000. The...
-
The highest WACC is 11%, the baseline WACC is 7.4% and lowest WACCS is 2.8%. To derive a WACC that better accounts for extreme scenarios, you decide to assign the following probability weights: High-...
-
Late in 2021, you and two other officers of Curbo Fabrications Corporation just returned from a meeting with officials of the City of Jackson. The meeting was unexpectedly favorable even though it...
-
A company produces earbuds. The revenue from the sale of x units of these earbuds is R = 8x. The cost to produce x units of earbuds is C = 3x + 1500. In what interval will the company at least break...
-
(a) What source documents are used in assigning (1) materials and (2) labor to production in a process cost system? (b) What criterion and basis are commonly used in allocating overhead to processes?
-
(a) What source documents are used in assigning (1) materials and (2) labor to production in a process cost system? (b) What criterion and basis are commonly used in allocating overhead to processes?
-
At Ace Company, overhead is assigned to production departments at the rate of $5 per machine hour. In July, machine hours were 3,000 in the Machining Department and 2,400 in the Assembly Department....
-
1. Q: What is Docker? 2. Q: What is a data lake? 3. Q: What is a NoSQL database? 4. Q: What is a software development methodology? 5. Q: What is cross-platform development? 6. Q: What is Moore's Law?...
-
1. Q: What is virtual memory? 2. Q: What is a hash function? 3. Q: What is A/B testing? 4. Q: What is machine learning? 5. Q: What is a software patch? 6. Q: What is the difference between symmetric...
-
1. Q: What is RAID (Redundant Array of Independent Disks)? 2. Q: What is a digital signature? 3. Q: What is cloud storage? 4. Q: What is responsive web design? 5. Q: What is the difference between...
Study smarter with the SolutionInn App