The comparative balance sheets of Shan Company Ltd as on Dec. 31, 2016 and 2017 were...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The comparative balance sheets of Shan Company Ltd as on Dec. 31, 2016 and 2017 were as under: DEBIT BALANCES 2017 Cash 29,000 29,000 50,000 7,000 100,000 50,000 25,000 2,80,000 Accounts Receivable Merchandise Inventory Prepaid Expenses Machinery Land Goodwill Total Total CREDIT BALANCES Accounts Payable Accrued Expenses 2017 28,000 26,000 Accumulated Depreciation 30,000 10% Bonds Payable 40,000 Share Capital 1,20,000 Retained Earning 36,000 Total 2,80,000 Additional information on Dec. 31, 2017 ii) iii) 2016 5,000 35,000 56,000 4,000 90,000 60,000 20,000 2.70,000 2016 35,000 20,000 22,000 50,000 1,00,000 43,000 2,70,000 Land costing Rs.10,000 was sold for Rs.20,000. Machine costing Rs.20,000 was sold Rs.9.000 at a loss of Rs. 3,000. Cash dividend paid during the year Rs.20,000. REQUIRED: • Prepare statement of cash flow for the year 31.12.2007. The comparative balance sheets of Shan Company Ltd as on Dec. 31, 2016 and 2017 were as under: DEBIT BALANCES 2017 Cash 29,000 29,000 50,000 7,000 100,000 50,000 25,000 2,80,000 Accounts Receivable Merchandise Inventory Prepaid Expenses Machinery Land Goodwill Total Total CREDIT BALANCES Accounts Payable Accrued Expenses 2017 28,000 26,000 Accumulated Depreciation 30,000 10% Bonds Payable 40,000 Share Capital 1,20,000 Retained Earning 36,000 Total 2,80,000 Additional information on Dec. 31, 2017 ii) iii) 2016 5,000 35,000 56,000 4,000 90,000 60,000 20,000 2.70,000 2016 35,000 20,000 22,000 50,000 1,00,000 43,000 2,70,000 Land costing Rs.10,000 was sold for Rs.20,000. Machine costing Rs.20,000 was sold Rs.9.000 at a loss of Rs. 3,000. Cash dividend paid during the year Rs.20,000. REQUIRED: • Prepare statement of cash flow for the year 31.12.2007.
Expert Answer:
Answer rating: 100% (QA)
statement of cash flows for Shan Company Ltd for the year ended Dec 31 2017 SHAN COMPANY LTDStatement of Cash FlowsFor the Year Ended December 31 2017 ... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1118875056
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
Posted Date:
Students also viewed these accounting questions
-
The comparative balance sheets of Sally Fagan Design Studio, Inc., at June 30, 2016, and 2015, and transaction data for fiscal 2016, are as follows: Transaction data for the year ended June 30, 2016,...
-
The comparative balance sheets of Donna Dunn Design Studio, Inc., at June 30, 2016, and 2015, and transaction data for fiscal 2016, are as follows: Transaction data for the year ended June 30, 2016,...
-
The comparative balance sheets of Franny Franklin Design Studio, Inc., at June 30, 2010 and 2009, and transaction data for fiscal 2010 are as follows: Transaction data for the year ended June 30,...
-
Which of the following is not an example of supervised machine learning? O Clustering O Deep learning O Decision Tree Linear Regression
-
Which would have a higher yield, a municipal bond or a Treasury bond of the same maturity?
-
a) Please provide two examples in which a company makes decisions that have dimension of social responsibility. (2 marks) b) Please provide two examples of international index/ratings to measure...
-
The CEO of the company asks you to justify the 10 percent increase in sales training expenditures for next year. How would you satisfy this request by the CEO?
-
A particle of mass m can slide freely along a wire AB whose perpendicular distance to the origin O is h. The line OC rotates about the origin at a constant angular velocity θ = w. The position...
-
How can systems theory inform the development of holistic frameworks for assessing the multifaceted dimensions of empowerment within complex adaptive systems ? Explain
-
Greyon Inc. operates an active business. Financial statements for the year ended December 31, 2021 report a net income before taxes of $300,000. The following additional information is provided: 1....
-
S f(x) A Find the equation of the line illustrated in the figure above, given that f(x) = 10 and the point A is at x = log(2882). Answer: the equation of lis x +
-
Read the caliper and read the measurement to the significant figure 51 31 Auto
-
Question 9 An integer x between 1 and 10 (included) will be drawn at random following a uniform distribution. There is thus one chance out of ten that x = 1, one chance out of ten that x = 2, etc....
-
In this exercise, let's pretend there's only one make, model and age of used cars. A used car can either be high quality or low quality. It is known that half of all existing used cars are high...
-
2 Ti(s) + 3 1(s) --> 2 Til3(s). AHxn = -839 kJ What minimum grams of 12 (253.808 g/mol) is needed to heat 4.040 kg of water from 20.0 C to 80.0 C? The specific heat of water is 4.18 J/gC.
-
Suppose a 500. mL flask is filled with 0.30 mol of OC12, 0.90 mol of BrOCl and 0.40 mol of BrCl. The following reaction becomes possible: Br(g) + OC1(g) BrOC1 (g) + BrC1 (g) The equilibrium constant...
-
A person must pay $5 to play a certain game at the casino. Each player has a probability of 0.19 of winning $ 13, for a net gain of $8 (the net gain is the amount won 13 minus the cost of playing 5)....
-
Convert the numeral to a HinduArabic numeral. A94 12
-
Nieto Companys budgeted sales and direct materials purchases are as follows. Nietos sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following...
-
For its fiscal year ending October 31, 2017, Haas Corporation reports the following partial data shown below. Income before income taxes .................... $540,000 Income tax expense (20% 3...
-
How do direct fixed costs differ from indirect fixed costs? Are both types of fixed costs controllable?
-
How does the product life cycle influence marketing strategy decisions?
-
What is the new product development process?
-
What is the hype cycle?
Study smarter with the SolutionInn App