With the following financial statements, prepare the adjustments in non-cash working capital accounts statement, and the statement
Question:
Statements of Financial Position
As at December 31
(in $)
1. The adjustments in non-cash working capital accounts statement
2. The statement of cashflows
Transcribed Image Text:
Statement of Income For the year ended December 31, 2013 in Revenue Cost of sales Gross proft Other income Costs/expenses Total Profit before taxes Income tax expense Profit for the year 550,000 (200,000) 350,000 10,000 (210,000) 200,000 150,000 60,000 90,000 Statement of Changes in Equity For the year ended December 31 (in $) 2013 2012 Retained Earnings Balance at beginning of ye 210,000 90,000 (70,000) 230,000 ar 210,000 Profit for the year Dividends Balance at end of vear Share Capital Balance at beginning of year 210,000 71,000 71,000 Shares issued Balance at end of year 71,000 71,000 Statements of Financial Positioin As at December 31 in 2013 2012 Non-current assets 350,000 Property, plant, and equipment Accumulated depreciation Property, plant, and equipment, net 400,000 100 300,000 65 285,000 2013 2012 Non-current assets Property, plant, and equipment Accumulated depreciation Property, plant, and equipment, net 400,000 350,000 100,000 (65,000) 300,000 285,000 Current assets Inventories Trade receivables Cash and cash equivalents 300,000 250,000 3,000 553,000 853.000 230,000 200,000 4,000 434,000 Total Total assets current assets Equity Share capital Retained earnings 71,000 230,000 301,000 71,000 210,000 281,000 Total equity Liabilities Non-current liabilities Long-term borrowings 200,000 122,000 Current liabilities Trade and other payables Accrued expenses Short-term borrowings 200,000 32,000 120,000 352,000 552,000 853,000 178,000 38,000 100,000 316,000 438,000 Total current liabilities Total liabilities Total equity and liabilities
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 42% (14 reviews)
1 Cash Inflows in Trade and other payables 22000 Shortterm bo...View the full answer
Answered By
Patrick Busaka
I am a result oriented and motivated person with passion for challenges because they provide me an opportunity to grow professionally.
5.00+
38+ Reviews
58+ Question Solved
Related Book For
Question Posted:
Students also viewed these Finance questions
-
A 20-year maturity bond with par value of $1,000 makes annual coupon payments at a coupon rate of 6%. Find the bond equivalent and effective annual yield to maturity of the bond for the following...
-
The following financial statements apply to Boyd Appliances, Inc. Required Calculate the following ratios for 2012. a. Working capital b. Current ratio c. Quick ratio d. Accounts receivable turnover...
-
The following financial statements are available for Sherwood Real Estate Company: Sherwood Company is using these financial statements to entice investors to buy stock in the company. However, a...
-
You borrowed $325000 using a 30- year fixed rate mortgage with a 5.25% interest rate: A) What is your schedule monthly payment? B) What is the amount of interest and principal paid with the first...
-
What are the basic objectives of advertising? What are the advertising objectives of Benetton?
-
Water enters a 10-cm-diameter pipe steadily with a uniform velocity of 3 m/s and exits with the turbulent flow velocity distribution given by u = u max (1 - r/R)1 /7 . If the pressure drop along the...
-
Calculate \(\overline{\bar{x}}\) and \(\bar{R}\) for the data of part (c) of Exercise 15.17 and use these values to construct the central lines and three-sigma control limits for new \(\bar{x}\) and...
-
In 1999 Mercedes-Benz USA adopted a new pricing policy, which it called NFP (negotiation-free process), that sought to eliminate price negotiations between customers and new-car dealers. An article...
-
Rosy Bhd. Plans to manufacture and sell 300,000 units next year. Fixed costs per year total RM450,000 and variable costs are estimated to be 40% of sales. a. To achieve an operating profit of...
-
Target Corporation reported the following on its income statement. For 12 Months Ended ($ millions) Feb. 2, 2019 Feb. 3, 2018 Jan. 28, 2017 Total revenue $75,356 $72,714 $70,271 Cost of sales 53,299...
-
For the following accounts, identify the working capital accounts and prepare the adjustments in non-cash working capital accounts statement. Accounts Trade receivables Non-current assets Inventories...
-
Use the following accounts to prepare a statement of cash flows for a not-for-profit organization: Long-term borrowings ... $ 50,000 Purchase of equipment .. 110,000 Excess of revenue over expenses ....
-
Express Lane, Inc., a regional convenience store chain, maintains milk inventory by the gallon. The first months milk purchases and sales at its Freeport, FL, location follows: Nov 2 1 gallon @ $2.00...
-
There is some economic research that suggests that oil prices play a central role in causing recessions in developed countries. In particular, this research suggests that it is specifically increases...
-
What was the average restaurant's operating income before these changes? Assuming that the price cut and advertising campaign are successful at increasing volume to the projected level, will the...
-
Discuss few recent developments with examples that have the potential to disrupt the conventional banking and finance industry.
-
Six runners are entered in a 100-meter dash for which a gold, silver, and bronze medal will be awarded for first, second, and third place finishes, respectively. In how many possible ways can the...
-
Why would a personal sickness and accident policy may be more appropriate than an income protection for a self employed electrician? Explain why he may not be able to rely on workers compensation?
-
How many atomic orbitals form a set of sp 3 hybrid orbitals? A set of sp 2 hybrid orbitals? A set of sp hybrid orbitals? What is the relationship between these numbers and the number of electron...
-
Periwinkle Company is a multinational organization. Its Parts Division is located in Lavender Land, while its Assembly Division is located in North Orchid. During the current year Periwinkle Companys...
-
How many exchanges are usually made in a one-year OIS swap?
-
Distinguish between beta (or market) risk, within-firm (or corporate) risk, and stand-alone risk for a potential project. Of the three measures, which is theoretically the most relevant, and why?
-
Distinguish between beta (or market) risk, within-firm (or corporate) risk, and stand-alone risk for a potential project. Of the three measures, which is theoretically the most relevant, and why?
-
Suppose a firm estimates its cost of capital for the coming year to be 10 percent. What might be reasonable costs of capital for average-risk, high-risk, and low-risk projects?
-
Characterize the nature of motivation, including its importance and focus Identify and describe the need theories on motivation. Identify and describe the behavior theories on motivation. Identify...
-
Calculate the amount that Astrid should withdraw from her college savings fund of $21000 if she wishes to withdraw equal amounts at the end of each month for four years. The annual nominal interest...
-
Jason borrows $ 10300 for the next 4 years at a variable interest rate. Assume that the interest accumulates for 4 years at an annual nominal rate of 11% compounded quarterly. Calculate the...
Study smarter with the SolutionInn App