Balance Sheets December 31, Year 2 and Year 1 Year 2 Year 1 Assets Current assets: Cash Accounts receivable Inventory Investments $ 217,600 58,000 85,000 3,000 $110,000 82,000 70,000 1,000 Long-term assets: Land Equipment Less: Accumulated depreciation 380,000 690,000 (328,000) $1,105,600 380,000 570,000 (168,000) $1,045,000 Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings $4 89,000 24 5,000 7,000 75,000 11,000 4,000 120,000 240,000 600,000 284,600 $1,105,600 600,000 115,000 Total liabilities and stockholders' equity $1,045,000 Additional information for Year 2: 1. Net income is $169,600. 2. Sales on account are $1,183,000. 3. Cost of goods sold is $953,250. Required:
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- What is the situation that best describes the following amortization schedule? Payment # Amount Paid Interest Portion Principal Portion Principal Balance 12,000.00 1 3,132.39 210.00 2,922.39 9,077.61 2 3,132.39 158.86 2,973.53 6,104.08 3,132.39 106.82 3,025.57 3,078.51 4 3,132.38 53.87 3,078.51 0.00 Total 12,529.55 529.55 12,000.00 a. Reuben received a loan of $12,000 from a bank to purchase office supplies. He obtained the loan at an interest rate of 7% compounded quarterly for 1 year. Calculate the size of her end-of-quarter payments and construct an amortization schedule for his loan. b. Fabrizio received a loan of $12,000 from a bank to purchase office supplies. He obtained the loan at an interest rate of 70% compounded quarterly for 1 year. Calculate the size of her end-of-quarter payments and construct an amortization schedule for his loan. C. Reuben received a loan of $12,000 froma bank to purchase office supplies. He obtained the loan at an interest rate of 7% compounded every…Assets Current assets: Cash Marketable securities Accounts receivable (net) Inventories Other Total current assets Property and equipment: Land Building and equipment (net) Total long-term assets Total assets 1. Calculate the average total assets. 20X1 20X2 $2,875,000 $2,580,000 800,000 700,000 939,776 690,000 490,000 260,000 93,000 74,261 $5,197,776 $4,304,261 $1,575,000 $1,067,315 1,348,800 1,150,000 $2,923,800 $2,217,315 $8,121,576 $6,521,576Harding Company Accounts payable Accounts receivable Accrued liabilities Cash Intangible assets Inventory Long-term investments Long-term liabilities $33,881 67,862 6,549 24,569 44,827 81,635 119,652 79,434 27,140 Notes payable (short-term) Property, plant, and equipment 665,660 Prepaid expenses Temporary investments 1,979 38,326 Based on the data for Harding Company, what is the amount of working capital? a.$663,681 b.$214,371 c.$146,801 d.$1,044,510
- SAMPAGUITA INSURANCE COMPANY FINANCIAL STATEMENT 2021 ASSETS Cash and cash equivalents P2,574,335 Interest receivable 132,241 Investments 12,340,312 Investment in subsidiary 529,248 Premiums due from policyholders 10,831 Policy loans receivables - net 369,607 Coverage debt receivables - net 960,404 Reinsurance assets 53,439 Property and equipment - net 415,241 Right-of-use assets - net 533,003 Deferred acquisition costs 12,455,967 Other assets - net 1,647,258 Total General Assets 32,021,886 Assets Held to Cover Linked Liabilities 106,573,549 PI 38,595,435 ROSE INSURANCE COMPANY FINANCIAL STATEMENT ASSETS Cash and cash equivalents (Note 4) P 2,177,119,101 Insurance receivables (Note 26) Financial assets (Note 5) 133,720,939 Financial assets at fair value through profit or loss (FVPL) 60,091,263,262 Available-for-sale financial assets 42,348,896,307 Loans and receivables 10,508,989,111 Accrued income (Note 7) 379,787,097 Reinsurance assets (Note 13)…Assets Cash and cash equivalents Inventories Receivables (net) Taxes receivable (net) Due from General Fund Total assets Liabilities Accounts payable Due to Special Revenue Fund Total liabilities General Fund Revenue Fund $ 126,000 6,150 96,500 $ 12,500 7,700 Total $ 138,500 6,150 96,500 7,700 $ 228,650 $ 20,200 $ 248,850 86,550 4,000 7,700 90,550 7,700 94,250 4,000 98,250 6,150 6,150 16,200 16,200 128,250 128,250 134,400 16,200 150,600 Total liabilities and fund balance $ 228,650 $ 20,200 $ 248,850 Fund balance Nonspendable (inventories) Restricted for other purposes Unassigned Total fund balance Additional Information: a. Capital assets (net of accumulated depreciation) amounted to $326,500 at year-end. b. The liability for long-term compensated absences is estimated to be $87.075 at year-end. c. Long-term notes payable used to acquire equipment amounted to $223,250 at year-end. Requried: Prepare a combined Governmental Funds Balance Sheet or Statement of Net Position. Note: Amounts…U. PunUS IOW SIalement Ans: (a) Decrease in WC Rs. 7,000 (b) FFS Rs. 1,08,000; FFO Rs 19. 2073 Set D QNo. 16 Following information are given: Particulars Inventories Debtors General reserve Creditors Cash Year 1 (Rs.) 80,000 2,50,000 20,000 70,000 1,00,000 20,000 Year 2 (Rs. 1,00,000 2,00,000 40,000 1,00,000 1,40,000 25,000 Expenses payable Additional Information: Profit of the year: Rs. 80,000 i. Provision for tax: Rs. 10,000 Required: a. ii. Depreciation on fixed assets: Rs. 20,000 iv. Profit on sales of fixed assets: Rs. 5,000 Schedule of changes in working capital b. Funds from operation Ans: (a) Decrease in WC Rs. 25,000 (b) FFO Rs. 1,05, 20. 2072 Supp Q.No. 16 The following figures are extracted from the two years balance sheet of a company: Year 1 Year 2 Rs. 6,00,000 Rs. 1,50,000 Rs. 5,000 Particulars Share capital Fixed assets Rs. 5,00,000 Rs. 1,00,000 Goodwill Rs. 10,000 Additional Informátion: Net profit: Rs. 75,000 ii. Purchases of fixed assets: Rs. 70,000 Loss on fixed…
- 1.3Comment on the following:1.3.1Cash flows from operating activities R756 000(4 marks)1.3.2Increase in receivables (R396 000)(4 marks)1.3.3Cash flows from investing activities (R1 368 000)(4 marks)D CONSOLIDATED STATEMENTS OF FINANCIAL POSITION December 31, December 31, PERCENTAGE 2021 2020 USD USD Assets Current assets Cash and cash equivalents 34,115,412 25,681,845 Short-term financial instruments 71,417,748 80,798,680 Short-term financial assets at amortized cost 2,944,705 2,409,853 Short-term financial assets at fair value through profit or loss 35,624 62,452 Trade receivables 35,585,565 27,065,012 Non-trade receivables 3,930,828 3,150,548 Prepaid expenses 2,042,001 1,980,685 Inventories 36,172,043 28,007,314 Other current assets 4,441,629 3,281,589 Assets held-for-sale - 812,370 Total Current Assets 190,685,555 173,250,348 Non-current assets Financial assets at fair value through other comprehensive income 12,206,843 10,991,369 Financial assets at fair value through profit or loss 1,333,227 1,051,455 Investment in associates and joint ventures…Balance Sheets Metropolitan Republic Assets Cash Accounts receivable (net) Short-term investments Inventory Prepaid expenses and other current assets Current assets 263.3 42.4 495.7 394.0 7.8 703.2 558.7 542.4 196.6 Property, plant, and equipment (net) Intangibles and other assets $ 1,498.0 2,686.2 283.3 $ 1,706.2 2,529.3 569.3 $ 4,467.5 $ 4,804.7 Total assets Liabilities and Shareholders' Equity Accounts payable 551.9 294.1 661.2 765.2 623.4 Short-term notes 608.5 Accruals and other current liabilities $ 1,997.1 $ 1,507.2 623.6 Current liabilities 623.3 Long-term debt Deferred tax liability Other long-term liabilities 452.6 684.7 193.0 178.1 Total liabilities $ 2,776.4 $3,483.2 418.0 Common stock (par and additional paid-in capital) Retained earnings Less: Treasury stock 212.9 2,546.9 (1,068.7) $ 4,467.5 1,680.9 (777.4) $ 4,804.7 Total liabilities and shareholders' equity Income Statements $ 5,772.0 (2,837.0) $ 2,935.0 (1,662.7) (68.8) $ 1,203.5 (311.7) 891.8 $ 7,839.2 (4,408.7) $…
- 3. Following information is available in respect of A LtdParticulars As on 31.3.2019(Rupees. In Lacs)As on 31.3.2020(Rupees. In Lacs)Investment in Financial Assets - 100Equity Share Capital 150 160Long term Loans taken 100 200Dividend paid - 26Dividend received - 10Interest received - 15a. Prepare the cash flow from financing activities from the above information and give reasons for each element whether these elements belongs to financing activities or notQuestion 10 of 25 Based on the following data, what is the amount of working capital? Accounts payable Accounts receivable Cash Intangible assets Inventory Long-term investments Long-term liabilities Short-term investments Notes payable (short-term) Property, plant, and equipment Prepaid insurance $404240 O $411680 > O $458800 $79360 141360 86800 124000 171120 198400 248000 99200 69440 1661600 2480You are repaying a loan of ${A} by making payments at the end of every month for {B} years. Interest is {C}% compounded {D}. Solve for the missing value and complete the partial amortization table below. Do not use units, negative values, or comma separators (eg. use 10000 not $10,000). {A} $54,000 Missing variable: Partial amortization table: 0 1 2 3 OUTSTANDING PAYMENT NUMBERAMOUNT PAID INTEREST PAID PRINCIPAL REPAID PRINCIPAL BALANCE $54,000.00 *** {B} 5 *** {C} 2.55% {D} annually ***