Prepare a statement of Cash Flows using Direct Method WHISPERING LTD. Comparative Statement of Financial Position Dec.
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
WHISPERING LTD. Comparative Statement of Financial Position Dec. 31, 2024 $68,000 125,000 Cash Accounts receivable Inventory Property, plant, and equipment Less: Accumulated depreciation Total assets Accounts payable Wages payable Loan payable Common shares Retained earnings Total liabilities and shareholders' equity WHISPERING LTD. Statement of Income For the year ended December 31, 2024 Sales revenue Cost of goods sold Gross profit Other expenses: Supplies expense Depreciation expense Wages expense Other operating expenses Interest expense Other income Net income $11,000 33,000 103.000 4,000 15.000 322,000 694,000 (264,000) $945,000 $81,800 6,000 348.200 200,000 309,000 $945,000 $451,000 243,000 208,000 166,000 42,000 15,000 $57,000 Dec 31, 2023 $76,000 144,000 279,000 647,000 (231,000) $915,000 $84,000 9,400 415,600 145,000 261,000 $915,000 WHISPERING LTD. Comparative Statement of Financial Position Dec. 31, 2024 $68,000 125,000 Cash Accounts receivable Inventory Property, plant, and equipment Less: Accumulated depreciation Total assets Accounts payable Wages payable Loan payable Common shares Retained earnings Total liabilities and shareholders' equity WHISPERING LTD. Statement of Income For the year ended December 31, 2024 Sales revenue Cost of goods sold Gross profit Other expenses: Supplies expense Depreciation expense Wages expense Other operating expenses Interest expense Other income Net income $11,000 33,000 103.000 4,000 15.000 322,000 694,000 (264,000) $945,000 $81,800 6,000 348.200 200,000 309,000 $945,000 $451,000 243,000 208,000 166,000 42,000 15,000 $57,000 Dec 31, 2023 $76,000 144,000 279,000 647,000 (231,000) $915,000 $84,000 9,400 415,600 145,000 261,000 $915,000
Expert Answer:
Answer rating: 100% (QA)
WHISPERING LTD Statement of Cash Flows For the Year Ended December 31 2024 Cash Flows from Operating ... View the full answer
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
Posted Date:
Students also viewed these accounting questions
-
Prepare a statement of cash flows using the indirect method. The income statement for 2017 and the balance sheets for 2017 and 2016 are presented for Harding Industries, Inc. Additional information...
-
The following are the financial statements of Nosker Company. Additional data: 1. Dividends declared and paid were $20,000. 2. During the year equipment was sold for $8,500 cash. This equipment cost...
-
The financial statements of Walker company comparative Balance sheets December 31 Additional information a. All sales are made on credit. b. All inventory purchases are on credit. c. Accounts payable...
-
The file CigaretteTax contains the state cigarette tax ($) for each state as of January 1, 2013. a. Construct an ordered array. b. Plot a percentage histogram. c. What conclusions can you reach about...
-
Consider the regression of mileage for certain automobiles, measured in miles per gallon (mpg) on their weight in pounds (wt). The data are from Consumer Reports (April 1997). Part of the SAS output...
-
Explain the essential characteristics of an asset according to the Conceptual Framework for Financial Reporting.
-
Determine the horizontal displacement of joint \(B\). The truss is made from A992 steel rods each having a diameter of 1 in. A 60 60 12 kip B 6 ft
-
Flynn Industries has three activity cost pools and two products. It expects to produce 3,000 units of Product BC113 and 1,500 of Product AD908. Having identified its activity cost pools and the cost...
-
You are a data analyst working for a nonprofit organization that reviews business. You have been tasked to provide a briefing on consumer complaints. Using this website...
-
Post - Combination Balance Sheet Presented below are the balance sheets of Allen Corporation and Benson Corporation, immediately prior to a business combination. The fair values of Benson s reported...
-
Describe, in order, the four basic steps in the closing process performed at the end of each accounting period. Explain why the closing process is so important. After the closing process has been...
-
1. Calculate the weight (in newtons) of an astronaut (mass of 100 kg) on a planet where the acceleration due to gravity is 6.63 meters per second squared. Round your answer to two decimal places. 2....
-
The proper classification of liabilities as current assists decision-makers in determining the short-term and long-term cash needs of a company. Explain the impact on decision-makers and investors...
-
Affiliated groups/subsidiaries consist of legally independent firms that are controlled by the same parent. They are also required to ensure that auditors conducting audits of subsidiaries of the...
-
3-5 -37 3-3 Let A=-6 and B = -2-4 Compute the product AB, if possible.
-
Use the product, quotient, and power rules, as necessary, to simplify the following expression. Write the answer with only positive exponents. (810-2)4 (4103)4 The answer is (810-2)4 (4103)4...
-
After the multiple scandals that surfaced in the late '90s and early 2000s, it is understandable that some kind of action was needed to wrangle in the fraudulent corruption that plagued the corporate...
-
Find the radius of convergence in two ways: (a) Directly by the CauchyHadamard formula in Sec. 15.2. (b) From a series of simpler terms by using Theorem 3 or Theorem 4.
-
Saver Rio Ltd. purchased options to acquire 1,000 common shares of Spender Limited for $20 per share within the next six months. The premium (cost) related to the options was $500. How should this be...
-
On March 1, Kramers Inc. sells 1,000 common shares to its employees at $25 per share and lends the money to the employees to buy the new shares. The employees pay 50% of the price on the transaction...
-
Four independent situations follow. 1. Wen Corporation incurred the following costs when it issued bonds: printing and engraving costs, $25,000; legal fees, $69,000; and commissions paid to...
-
List eight essential properties that influence usability and effectiveness analysis models. Give brief description for each property.
-
Explain main disadvantages of starting analysis from scratch for each project.
-
What does a pattern representa complete system or a specific commonly occurring problem?
Study smarter with the SolutionInn App