Below are the income statement and comparative balance sheet of Doone Corporation for year ending Dec...
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Below are the income statement and comparative balance sheet of Doone Corporation for year ending Dec 31, 2019 is given below. All amounts in Canadian dollars. Roquired: Prepare the cashflow statement, clearly including operating. financing and investing activities up to the net change in cash using the Indirect method as of Dec 31, 2019. Doone Corpotation Income Statement For the Year ended Dec 31, 2019 Sales Revenue Less: Cost of Goods Sold Gross Profit Less: Selling. General and Administrative Expenses Operating profit Less: Depreciation expense Earnings before interest and taxes Less: Interest expense Eamings before taxes Less: tax expense (40%) Net Income 8S0,000 20000 3600 71.000 289,000 50,000 239,000 44,000 195,000 78,000 117,000 Doone Corporation Comparative Balance Sheet Dec 31, 2018 and 2019 2018 2019 16,000 24,000 Cash 12.000 Marketable securities 23,000 76,000 58,000 Accounts receivables 65,000 69,000 Inventory Investments S8,000 227,000 45.000 219.000 Total current assets Property, Plant & Equipment Less: Accumulated Depreciation Net Prop., Plant & Equipment Total Assets 510,000 670,000 50,000 42,000 468,000 695,000 620,000 839,000 57,000 Accounts payable Notes payable Acerued expenses Salaries payable Total current liability 68,000 20,000 11,000 10,000 7,000 6.000 105,000 9.000 83,000 Bonds payable Total liabilities 230,000 335,000 315.000 398,000 Share capital Retained Earnings Total Shareholder's equity 250,000 300,000 110.000 360,000 141,000 441,000 Total Liabilities and 695,000 839,000 Sharcholders equity Below are the income statement and comparative balance sheet of Doone Corporation for year ending Dec 31, 2019 is given below. All amounts in Canadian dollars. Roquired: Prepare the cashflow statement, clearly including operating. financing and investing activities up to the net change in cash using the Indirect method as of Dec 31, 2019. Doone Corpotation Income Statement For the Year ended Dec 31, 2019 Sales Revenue Less: Cost of Goods Sold Gross Profit Less: Selling. General and Administrative Expenses Operating profit Less: Depreciation expense Earnings before interest and taxes Less: Interest expense Eamings before taxes Less: tax expense (40%) Net Income 8S0,000 20000 3600 71.000 289,000 50,000 239,000 44,000 195,000 78,000 117,000 Doone Corporation Comparative Balance Sheet Dec 31, 2018 and 2019 2018 2019 16,000 24,000 Cash 12.000 Marketable securities 23,000 76,000 58,000 Accounts receivables 65,000 69,000 Inventory Investments S8,000 227,000 45.000 219.000 Total current assets Property, Plant & Equipment Less: Accumulated Depreciation Net Prop., Plant & Equipment Total Assets 510,000 670,000 50,000 42,000 468,000 695,000 620,000 839,000 57,000 Accounts payable Notes payable Acerued expenses Salaries payable Total current liability 68,000 20,000 11,000 10,000 7,000 6.000 105,000 9.000 83,000 Bonds payable Total liabilities 230,000 335,000 315.000 398,000 Share capital Retained Earnings Total Shareholder's equity 250,000 300,000 110.000 360,000 141,000 441,000 Total Liabilities and 695,000 839,000 Sharcholders equity
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Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
Posted Date:
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