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Company Puelche Income Statement as of December 31, 2018 expressed in ThCh$. Sales revenue 510,000 Cost of sales (300,000) Gross margin 210,000 Depreciation expense (85,000) Salary expense (95,000) Rental expense (56,000) Total operating expense (236,000) Gain on sale of fixed assets 81,000 Interest expense (17,500) Non-operating expense 63,500 INCOME BEFORE TAXES 37,500 Income tax expense (7,500) Profit of the year 30,000 Notes: Sales of plant and equipment were made on a cash basis. There were no purchases of plant and equipment during 2018. During 2018 there were no new loans with banks, and no loans were prepaid. Dividends were declared in April 2018 and in June 2018 part of those declared dividends were paid. Company "PUELCHE", dedicated to commercialization of fans and air conditioners, presents its comparative balance sheet as of December 31, 2008. air conditioners, presents below its comparative Balance Sheet as of December 31, 2018 and 2017; and its Income Statement for year 2018: Company Puelche Comparative Balance Sheet as of December 31, 2018 and 2017 expressed in ThCh$. ThCh$ ThCh$ ThCh$ ThCh$ Assets Liabilities 2018 2017 2018 2017 Current assets Current liabilities Cash and cash 330,600 120,000 Accounts payables 330,000 360,000 equivalents Accounts receivable 516,000 480,000 Wages payables 60,000 50,400 Inventory 400,000 540,000 Interest payable 5,500 17,000 Prepaid Lease 8,000 16,000 Dividends payable 53,000 Taxes payable 7,500 Total current assets 1,254,600 1,156,000 Total current liabilities 456,000 427,400 No current assets Plant and equipment 1,070,000 No current liabilities 1,250,000 Bank debt 430,600 430,600 Accumulated (290,000) (250,000) depreciation Net total no current assets 780,000 1,000,000 Contributed capital 1,000,000 1,000,000 Retained earnings 118,000 213,000 Profit of the year Total equity 30,000 1,148,000 85,000 1,298,000 Total Assets 2,034,600 2,156,000 Total equity and liabilities 2,034,600 2,156,000

Company Puelche Income Statement as of December 31, 2018 expressed in ThCh$. Sales revenue 510,000 Cost of sales (300,000) Gross margin 210,000 Depreciation expense (85,000) Salary expense (95,000) Rental expense (56,000) Total operating expense (236,000) Gain on sale of fixed assets 81,000 Interest expense (17,500) Non-operating expense 63,500 INCOME BEFORE TAXES 37,500 Income tax expense (7,500) Profit of the year 30,000 Notes: Sales of plant and equipment were made on a cash basis. There were no purchases of plant and equipment during 2018. During 2018 there were no new loans with banks, and no loans were prepaid. Dividends were declared in April 2018 and in June 2018 part of those declared dividends were paid. Company "PUELCHE", dedicated to commercialization of fans and air conditioners, presents its comparative balance sheet as of December 31, 2008. air conditioners, presents below its comparative Balance Sheet as of December 31, 2018 and 2017; and its Income Statement for year 2018: Company Puelche Comparative Balance Sheet as of December 31, 2018 and 2017 expressed in ThCh$. ThCh$ ThCh$ ThCh$ ThCh$ Assets Liabilities 2018 2017 2018 2017 Current assets Current liabilities Cash and cash 330,600 120,000 Accounts payables 330,000 360,000 equivalents Accounts receivable 516,000 480,000 Wages payables 60,000 50,400 Inventory 400,000 540,000 Interest payable 5,500 17,000 Prepaid Lease 8,000 16,000 Dividends payable 53,000 Taxes payable 7,500 Total current assets 1,254,600 1,156,000 Total current liabilities 456,000 427,400 No current assets Plant and equipment 1,070,000 No current liabilities 1,250,000 Bank debt 430,600 430,600 Accumulated (290,000) (250,000) depreciation Net total no current assets 780,000 1,000,000 Contributed capital 1,000,000 1,000,000 Retained earnings 118,000 213,000 Profit of the year Total equity 30,000 1,148,000 85,000 1,298,000 Total Assets 2,034,600 2,156,000 Total equity and liabilities 2,034,600 2,156,000

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter12: Intangibles
Section: Chapter Questions
Problem 10MC
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According with attached images:

You are requested to:

Prepare Cash Flow Statement for year 2018 of company PUELCHE, according to both Direct and Indirect Method (show in detail each calculation with formulas).

THANKS :D

Company Puelche Income Statement as of December 31, 2018 expressed in ThCh$. Sales revenue 510,000 Cost of sales (300,000) Gross margin 210,000 Depreciation expense (85,000) Salary expense (95,000) Rental expense (56,000) Total operating expense (236,000) Gain on sale of fixed assets 81,000 Interest expense (17,500) Non-operating expense 63,500 INCOME BEFORE TAXES 37,500 Income tax expense (7,500) Profit of the year 30,000 Notes: Sales of plant and equipment were made on a cash basis. There were no purchases of plant and equipment during 2018. During 2018 there were no new loans with banks, and no loans were prepaid. Dividends were declared in April 2018 and in June 2018 part of those declared dividends were paid.
Transcribed Image Text:Company Puelche Income Statement as of December 31, 2018 expressed in ThCh$. Sales revenue 510,000 Cost of sales (300,000) Gross margin 210,000 Depreciation expense (85,000) Salary expense (95,000) Rental expense (56,000) Total operating expense (236,000) Gain on sale of fixed assets 81,000 Interest expense (17,500) Non-operating expense 63,500 INCOME BEFORE TAXES 37,500 Income tax expense (7,500) Profit of the year 30,000 Notes: Sales of plant and equipment were made on a cash basis. There were no purchases of plant and equipment during 2018. During 2018 there were no new loans with banks, and no loans were prepaid. Dividends were declared in April 2018 and in June 2018 part of those declared dividends were paid.
Company "PUELCHE", dedicated to commercialization of fans and air conditioners, presents its comparative balance sheet as of December 31, 2008. air conditioners, presents below its comparative Balance Sheet as of December 31, 2018 and 2017; and its Income Statement for year 2018: Company Puelche Comparative Balance Sheet as of December 31, 2018 and 2017 expressed in ThCh$. ThCh$ ThCh$ ThCh$ ThCh$ Assets Liabilities 2018 2017 2018 2017 Current assets Current liabilities Cash and cash 330,600 120,000 Accounts payables 330,000 360,000 equivalents Accounts receivable 516,000 480,000 Wages payables 60,000 50,400 Inventory 400,000 540,000 Interest payable 5,500 17,000 Prepaid Lease 8,000 16,000 Dividends payable 53,000 Taxes payable 7,500 Total current assets 1,254,600 1,156,000 Total current liabilities 456,000 427,400 No current assets Plant and equipment 1,070,000 No current liabilities 1,250,000 Bank debt 430,600 430,600 Accumulated (290,000) (250,000) depreciation Net total no current assets 780,000 1,000,000 Contributed capital 1,000,000 1,000,000 Retained earnings 118,000 213,000 Profit of the year Total equity 30,000 1,148,000 85,000 1,298,000 Total Assets 2,034,600 2,156,000 Total equity and liabilities 2,034,600 2,156,000
Transcribed Image Text:Company "PUELCHE", dedicated to commercialization of fans and air conditioners, presents its comparative balance sheet as of December 31, 2008. air conditioners, presents below its comparative Balance Sheet as of December 31, 2018 and 2017; and its Income Statement for year 2018: Company Puelche Comparative Balance Sheet as of December 31, 2018 and 2017 expressed in ThCh$. ThCh$ ThCh$ ThCh$ ThCh$ Assets Liabilities 2018 2017 2018 2017 Current assets Current liabilities Cash and cash 330,600 120,000 Accounts payables 330,000 360,000 equivalents Accounts receivable 516,000 480,000 Wages payables 60,000 50,400 Inventory 400,000 540,000 Interest payable 5,500 17,000 Prepaid Lease 8,000 16,000 Dividends payable 53,000 Taxes payable 7,500 Total current assets 1,254,600 1,156,000 Total current liabilities 456,000 427,400 No current assets Plant and equipment 1,070,000 No current liabilities 1,250,000 Bank debt 430,600 430,600 Accumulated (290,000) (250,000) depreciation Net total no current assets 780,000 1,000,000 Contributed capital 1,000,000 1,000,000 Retained earnings 118,000 213,000 Profit of the year Total equity 30,000 1,148,000 85,000 1,298,000 Total Assets 2,034,600 2,156,000 Total equity and liabilities 2,034,600 2,156,000
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