The company reported for the current year 20X1 the following income statement:SalesCost of goodsGross marginIncome StatementSelling expensesGeneral & administrative expensesNet income before taxesIncome TaxesNet Income after Taxes202,500(105,000)97,500(20,000)(27,700)49,800(9,000)40,800Additional Information:The amounts of selling expenses and general & administrative expenses incorporateexpenses related to wages of about €26,000, other expenses paid in cash of about€14,200 and depreciation expenses.Prepare the cash flow statement for "Beta" Company using the indirect methodPrepare the cash flow statement for "Beta" Company using the direct methodAnalyse the cash flow statement for "Beta" Company. A comparative balance sheet for "BETA" Company containing data in € for the mostrecent years is as follows:AssetsFixed assets:Property, plant andequipmentLess accumulateddepreciationNet property, plant andequipmentLong-term investmentsTotal fixed assetsCurrent assets:Cash and cash equivalentsAccounts receivablesInventoriesPrepayment accountsTotal current assetsTotal assets20X1160,000(45,000)115,00021,500136,50051,00067,50040,0008,000166,500303,000Comparative Balance SheetLiabilities &20X0Stockholders' EquityStockholders' equity:135,000 Common stock(37,500) Retained earnings97,500 Totalequity15,000 Long-term liabilities:112,500Long-term notes payableTotallong-termliabilitiesCurrent liabilities:8,000142,500stockholders'43,50042,000 Accounts payableWages payable49,000Taxes payableShort-term debtTotal current liabilitiesTotal liabilities255,000 Total liabilities &stockholders' equity20X1129,90055,800185,70057,00057,00022,0003,3003,00032,00060,300117,300303,00020X0105,90037,500143,40054,00054,00017,0002,10015,00023,50057,600111,600255,000

The "cash flow statement" shows the net changes in cash over a particular period. It can be prepared…

Prepare the cash flow statement for "Beta" Company using the indirect method Prepare the cash flow statement for "Beta" Company using the direct method Analyse the cash flow statement for "Beta" Company.

Prepare the cash flow statement for "Beta" Company using the indirect method Prepare the cash flow statement for "Beta" Company using the direct method Analyse the cash flow statement for "Beta" Company.

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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