Chapter 1, Problem 1.3BYP

(a)

(1)

To determine

Financial Statements

The statement prepared for the specific period which comprises the financial information of the organization. It includes statement of income which shows the profitability of the business, balance sheet which shows the financial position in the terms of assets, liabilities and capital, and cash flow statement which represents the cash flows for the accounting period.

To determine: Total assets of Company A as on December 31, 2013 and Company W, as on January 31, 2014.

(2)

To determine

Net receivables of Company A as on December 31, 2013 and Company W as on January 31, 2014.

(3)

To determine

Net sales related to product of Company A for the period of 2013 and Company W for the period of 2014.

(4)

To determine

Net income for the period of 2013 for Company A and for the period of 2014 for Company W.

(b)

To determine

The conclusions from the data related to the companies.