Balance Sheet as of December 31, 2016 and 2017 2016 Rs 650 2,382 4,408 Total current assets Rs 7,440 Fixed assets Assets Cash Accounts receivable Inventory Total assets Sales Cost of goods sold Depreciation Rs 13,992 Rs 18,584 Total debt 2017 Liabilities and Equity Rs 710 Accounts payable 2,106 Notes payable 4,982 Other Rs 7,798 Total current liabilities Long-term debt Owners' equity (1,250 shares outstanding) Rs 21,432 Rs 26,382 Total liabilities and equity Earnings before interest and taxes Interest paid Taxable income Taxes @ 35% Net Income Dividends Addition to retained earnings Market price for a share of stock 2016 Rs 987 640 90 Rs 1,717 4,318 Bagmati Bitumin Limited Income Statement for the Year Ended December 31, 2017 201 Rs 1215 71 23 Rs 2,167 4,19 Rs 6,035 Rs 6,35. Rs 15,397 Rs 20,02 Rs 21,432 Rs 26,38 Rs 28,000 11,600 2,140 Rs 14,260 980 Rs 13,280 4,648 Rs 8,632 Rs 4,000 4,632 Rs Rs 63

Balance Sheet as of December 31, 2016 and 2017 2016 Rs 650 2,382 4,408 Total current assets Rs 7,440 Fixed assets Assets Cash Accounts receivable Inventory Total assets Sales Cost of goods sold Depreciation Rs 13,992 Rs 18,584 Total debt 2017 Liabilities and Equity Rs 710 Accounts payable 2,106 Notes payable 4,982 Other Rs 7,798 Total current liabilities Long-term debt Owners' equity (1,250 shares outstanding) Rs 21,432 Rs 26,382 Total liabilities and equity Earnings before interest and taxes Interest paid Taxable income Taxes @ 35% Net Income Dividends Addition to retained earnings Market price for a share of stock 2016 Rs 987 640 90 Rs 1,717 4,318 Bagmati Bitumin Limited Income Statement for the Year Ended December 31, 2017 201 Rs 1215 71 23 Rs 2,167 4,19 Rs 6,035 Rs 6,35. Rs 15,397 Rs 20,02 Rs 21,432 Rs 26,38 Rs 28,000 11,600 2,140 Rs 14,260 980 Rs 13,280 4,648 Rs 8,632 Rs 4,000 4,632 Rs Rs 63

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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