2018 2019 Assets: Current assets Long-term investments Fixed assets (net) Intangible assets Total Assets P550,000 45% 10% 200,500 25% 30% 50,000 P1,211,500
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- Year Net Income Cumulative (Loss) Net Income 2018 6,500,000 6,500,000 2019 400,000 What is the cumulative income? Select one: a. OMR 6,500,000 b. None of the other points c. OMR 6,900,000 d. OMR 6,100,000You have been provided with the following information for Bee Ltd, a closely-held private company: Bee Ltd Income Statement for the year ending 31/03/2021 $ Sales 1,400,000 Less: Cost of sales 550,000 Gross profit 850,000 Interest on Government Bonds 2,100 Less: 380,000 Depreciation Interest expense 35,600 10,000 Bad Debts 5,000 Loss on sale – equipment 4,000 Insurance 12,200 Other expenses 312,800 472,100 185,295 286,805 70,000 Net Profit before tax Taxation Net Profit after tax Revaluation of Land Comprehensive Net Profit 356,805 Note during the 2021 year: $ Equipment with accumulated depreciation of 11,000 was sold for cash 20,000 Land was revalued upward by The company re-purchased shares at 70,000 100,000 Marketable securities were sold for cash.Depreciation expense for 2020
- : Answers the days of Working capital based on the information below: 2020 2021 Profit of the year $126,000 $175,000 Depreciation/Amortization 25,000 35,000 Trade receivables 260,000 285,000 Inventories 350,000 390,000 Trade and other payables 290,000 310,000 Revenue 1,800,000 2,100,00039- YEAR 2018 YEAR 2019 Current Assets 800.000 TL 1,000,000 TL Calculate the amount of change in TL using the comparative table analysis method according to the information above. a) 100,000 TL B) 200.000 TL NS) 300.000 TL D) 500.000 TL TO) 400.000 TL62. Statement of Financial Position 2021 2022 2023 Assets Current Assets Cash and cash equivalents 20,000,000 30,000,000 40,000,000 Accounts receivable 5,000,000 20,000,000 60,000,000 Land classified as inventory 40,000,000 38,000,000 80,000,000 Total Current Assets P 65,000,000 P 88,000,000 180,000,000 Non-Current Office Building 10,000,000 12,000,000 15,000,000 Land (where office is situated) 100,000,000 100,000,000 100,000,000 Total Non-Current Assets 110,000,000 112,000,000 115,000,000 Liabilities 55,000,000 55,000,000 80,000,000 Stockholder’s Equity 120,000,000 145,000,000 215,000,000 Statement of Comprehensive Income 2021 2022 2023 Gross sales P 6,000,000 P 20,000,000 P 35,000,000 Cost of sales 2,000,000 10,000,000 20,000,000 Expenses 3,850,000 5,000,000 5,000,000 Net income…
- What is the return on total assets given the figures attached?Year 2016 Plant, Property, Equipment (Gross) Accumulated depreciation reported in 2020 Annual depreciation for 2020 year $710,000 $520,000 $50,000 Find the average remaining life of Plant, Property, Equipment (PPE). 21please help me to solve this problem
- Year 2026 Wildhorse Industries has the following patents on its December 31, 2024, balance sheet. 2027 2028 (a) Patent Item Patent A Patent B Patent C (b) 1. 2. Initial Cost 3. $44,064 $16,920 $22,080 The following events occurred during the year ended December 31, 2025. Expected Future Cash Flows $2,150 2,150 2,150 Click here to view factor tables. Research and development costs of $246,000 were incurred during the year. Patent D was purchased on July 1 for $45,030. This patent has a useful life of 9¹/2 years. As a result of reduced demands for certain products protected by Patent B, a possible impairment of Patent B's value may have occurred at December 31, 2025. The controller for Wildhorse estimates the expected future cash flows from Patent B will be as follows. Your answer is correct. Date Acquired The proper discount rate to be used for these flows is 8%. (Assume that the cash flows occur at the end of the year.) Total carrying amount $ 3/1/21 7/1/22 * Your answer is incorrect.…P. P. Bank loan payable-current portion P. 26,000 21,000 P. P. P. Bank loan payable-non-current portion 382,000 217,000 P. Common shares P. 196,000 89,000 Retained earnings 41,000 26,000 P. P. P. Total liabilities and shareholders' equity $695,000 $396.000 P. P. P. P. Additional information regarding 2021: P. P. 1. Net income was $52,000. P. P. P. 2. A gain of $9,000 was recorded on the disposal of a small parcel of land. No land was purchased during the year. A gain on the disposal of $39,000 was recorded when an old building was sold for $57,000 cash. A new building was purchased for $367.000 and depreciation expense on buildings for the year was $60,000. 3. P. P. P. P. Equipment costing $68.000 was purchased while a loss of $9,000 was recorded on equipment that was sold for $5,000. The equipment that was sold late in the year had accumulated depreciation of $11,000. 4. 5. The company took out $205,000 of new bank loans during the year. 6. Dividends were declared and paid and no…Loans and borrowings Deferred taxek liability 14,130 10,220- 1,010 960- 15,140 11,180 Current Liabilities Trade payable Current tax 1,260 1,140 1,040 920 payable Interest payable 980- 740k 3,280 40,190 2,800 32,960 Total Equity and Liabilities 2019 £'000 2018 £'000 Sales Cost of sales Distribution costse Administration expenses Gain on disposal of PPE 22,000 (11,800) (3,100) (1,630) 280 16,000 (8,200) (2,600) (1,420) Interest expensee a Тах еexpensee (1,140) (1,820) (760) (1,240) Net profit 2,790 1,780 1. The company disposal of PPE during the year with a book value of £1,000,000. 2. Depreciation of property, plant and equipment for the year was £650,000.4 The intangibles were acquired for cash towards the end of the year and were not sub ject to any amortisation in the current period.e 3. Prepare the statement of cash flows using the indirect method.