The first question: One of the companies follows the single entry system and is given the following accounting information:- The capital is on December 31, 2015 800 Dollars The capital is on 01/31/2015 900 Dollars Capital additions during the period amounted to 300 Dollars Required : . 1- Finding the business result of the company
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- The following are extracts from an income statement of Al Noor Company for the year ended 31 December 2020: Sales revenue RO 10,000; Cost of sales RO 8,500; Salaries expense RO 300; Advertising expense RO 200; Depreciation expense RO 100; Insurance expense RO 150; Unrealized gain on investment securities RO 1,000. The comprehensive income is: a. RO (250) b. RO 750 c. RO 1,000 d. RO 1,750Imagine you are the financial accountant of Happiness Ltd. You have the following final balances for the different accounts on 31st December 2021 (the accounting-year end): Value (£) Buildings 300,000 Transportation element 148,000 Accumulated depreciation (buildings) at 01/01/2021 52,500 Accumulated depreciation (transportation element) at 01/01/2021 36,800 Salary expense 16,500 Share premium 7,200 Capital 20,000 Retained earnings at 31/12/2020 97,900 Long term debt 190,300 Cash 60,000 Trade receivables 62,500 Inventory at 31/12/2020 40,000 Purchases 10,000 Sales 200,000 Allowance for trade receivables 2,500 Accrued Expenses 19,500 Trade payables 10,300 Required: a)Prepare the Trial Balance corresponding to the above information. b)Considering the following additional information, prepare the Income Statement for Happiness Ltd. on 31/12/2021. Additional…Use the following financial statements for Manufacturing Inc. to compute the 1) DSO 2) TIE 3) ROE Manufacturing Inc. Balance Sheets, Income Statements and Additional Information for Year Ending December 31 (Millions of Dollars, Except for Per Share Data) Balance Sheet 2019 Assets Cash and equivalents $4,156.00 Accounts receivable $12,980.00 Inventories $8,920.00 Total current assets $26,056.00 Net property, plant & equipment (PP&E) $13,405.00 Total assets $39,461.00 Liabilities and Equity Accounts payable $7,410.00 Notes payable $5,460.00 Accruals $4,290.00 Total current liabilities $17,160.00 Long-term bonds $7,800.00 Total liabilities $24,960.00 Common stock $6,921.00 Retained earnings $7,580.00 Total common equity $14,501.00 Total liabilities and equity $39,461.00 Income Statement…
- II. Direction: The following comparative financial statements are provided by Zeus Company. Using Horizontal and Vertical approach, calculate the missing and write your answer on the blank. Show supporting solutions in a separate sheet of paper. Answer the questions at the bottom of this activity. ZEUS COMPANY COMPARATIVE STATEMENT OF FINANCIAL POSITION December 31, 2019 and 2018 2019 2018 Rate of Inc(Dec) Assets: P550,000.00 10% Current assets 45% 21.98% Long-term investments Fixed assets (net) Intangible assets 200,500.00 25% 30% 0.76% 50,000.00 Total Assets PI,211,500.00 Liabilities: Current liabilities 20% P200,800.00 Long-term liabilities Total liabilities 100,000.00 200,000.00 P400,800.00 Owner's Equity P869.200.00 60% Total liabilities and equityPrepare the Pro Forma Statement of Financial Position as at 31 December 2023 from the Statement ofFinancial Position and additional information provided below:INFORMATIONThe financial position of Gatti Limited as at 31 December 2022 is reflected the following statement:Statement of Financial Position as at 31 December 2022 R ASSETSNon-current assets 1 400 000Property, plant and equipment 1 200 000Fixed deposits 200 000Current assets 5 800 000Inventories 3 400 000Accounts receivable 2 000 000Cash and cash equivalents 400 000Total assets 7 200 000 EQUITY AND LIABILITIESEquity 4 680 000Ordinary share capital 3 600 000Retained earnings 1 080 000Non-current liabilities 720 000Long-term loan 720 000Current liabilities 1 800 000Accounts payable 1 800 000Total equity and liabilities 7 200 000 Additional informationThe following must be taken into account for 2023:■ Sales are forecast at R60 000 000, with a profit margin of 10% and a gross margin of 30%. Fifty percent(50%) of the sales is…An analyst has compiled the following information relating to a company for the year ended 31 December 2021: Rands Liabilities at year-end Contributed capital at year-end Retained income at beginning of the year Revenue during the year Expenses during the year Income tax 298 000 500 000 344 000 2 000 000 1 460 000 Charged at 28% Required: 1.1 Calculate the accounting value of the assets at year-end, based on the information provided above. 1.2 Calculate the return on equity (ROE) (to one decimal place) for the period and compare it to the industry average of 28%, in your answer provide two possible reasons why the amounts may differ.
- Epsilon Golf Company's balance sheet at December 31, 2021 is as follows: (Click the icon to view the balance sheet.) Requirement 1. Perform a vertical analysis of Epsilon Golf Company's balance sheet to determine the component percentages of its assets, liabilities, and stockholders' equity. (Round the percentages to the nearest hundredth percent, X.XX%. Do not enter the % symbol in any of the input fields.) Assets Total current assets Property, plant, and equipment, net Other assets Total assets Liabilities Total current liabilities December 31, 2021 Long-term debt Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity $ $ $ $ Amount 42,465 203,775 38,760 285,000 46,455 107,730 154,185 130,815 285,000 % of total % % % % % % % % %The 2017 balance sheet of Dream, Inc., showed current assets of $1,320 and current liabilities of $840. The 2018 balance sheet showed current assets of $1,760 and current liabilities of $1,140. What was the company's 2018 change in net working capital, or NWC? O A. $740 O B. $-740 O C. $114 D. $140Engr. Jeon Bassett is the owner of JBA Engineering and Design Firm. At the end of its accounting period on December 31, 2020, JBA Engineering and Design Firm had assets of $1,322,000 and liabilities of $150,000. Using the accounting equation, determine Engr. Bassett's capital as of December 31, 2020. — $1,172,000 Question: How much is Engr. Bassett's capital as of December 31, 2021, if assets increased by $84,000 and liabilities increased to $200,000 during 2021?
- You have been appointed to assist the accountant of Catalyst (Pty) Ltd to prepare the financialstatements for the year ended 31 December 2023. You have been provided with the followingfinancial information for the year ended 31 December 2023:RandsOrdinary shares (5 200 000)Retained earnings at 1 January 2023 (850 000)Inventory at 1 January 2023 5 400 000Land at cost 3 600 000Buildings at cost 10 800 000Buildings accumulated depreciation at 1 January 2023 (2 700 000)Plant at cost 12 000 000Plant accumulated depreciation at 1 January 2023 (4 500 000)Motor vehicles at cost 4 000 000Motor vehicles accumulated depreciation at 1 January 2023 (1 400 000)Trade payables (10 800 000)Trade receivables 7 200 000Provision for credit losses at 1 January 2023 (300 000)Purchases 24 500 000Revenue (36 000 000)Administrative expenses 2 500 000Distribution expenses 2 900 000Other expenses 600 000Bank 1 300 0004% Redeemable Preference shares at R1 each (6 000 000)8% Loan (6 000 000)Additional…You have been appointed to assist the accountant of Catalyst (Pty) Ltd to prepare the financialstatements for the year ended 31 December 2023. You have been provided with the followingfinancial information for the year ended 31 December 2023:RandsOrdinary shares (5 200 000)Retained earnings at 1 January 2023 (850 000)Inventory at 1 January 2023 5 400 000Land at cost 3 600 000Buildings at cost 10 800 000Buildings accumulated depreciation at 1 January 2023 (2 700 000)Plant at cost 12 000 000Plant accumulated depreciation at 1 January 2023 (4 500 000)Motor vehicles at cost 4 000 000Motor vehicles accumulated depreciation at 1 January 2023 (1 400 000)Trade payables (10 800 000)Trade receivables 7 200 000Provision for credit losses at 1 January 2023 (300 000)Purchases 24 500 000Revenue (36 000 000)Administrative expenses 2 500 000Distribution expenses 2 900 000Other expenses 600 000Bank 1 300 0004% Redeemable Preference shares at R1 each (6 000 000)8% Loan (6 000 000)23 2023© The…You have been appointed to assist the accountant of Catalyst (Pty) Ltd to prepare the financialstatements for the year ended 31 December 2023. You have been provided with the followingfinancial information for the year ended 31 December 2023:RandsOrdinary shares (5 200 000)Retained earnings at 1 January 2023 (850 000)Inventory at 1 January 2023 5 400 000Land at cost 3 600 000Buildings at cost 10 800 000Buildings accumulated depreciation at 1 January 2023 (2 700 000)Plant at cost 12 000 000Plant accumulated depreciation at 1 January 2023 (4 500 000)Motor vehicles at cost 4 000 000Motor vehicles accumulated depreciation at 1 January 2023 (1 400 000)Trade payables (10 800 000)Trade receivables 7 200 000Provision for credit losses at 1 January 2023 (300 000)Purchases 24 500 000Revenue (36 000 000)Administrative expenses 2 500 000Distribution expenses 2 900 000Other expenses 600 000Bank 1 300 0004% Redeemable Preference shares at R1 each (6 000 000)8% Loan (6 000 000)23 2023© The…