FINANCIAL ACCOUNTING
6th Edition
ISBN: 9781618533111
Author: DYCKMAN
Publisher: Cambridge Business Publishers
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Question
Chapter 1, Problem 37P
a.
To determine
Prepare an income statement,
b.
To determine
Calculate the portion of owners’ contribution to total assets.
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Below is a comparative statement of financial position for Egglestone Vibe Inc. as at December
31, 2021:
Egglestone Vibe Inc.
Statement of Financial Position
Cash
Accounts receivable
Inventory
Land
Plant assets
Assets:
Investments-available for sale (OC)
Additional Information:
Accumulated depreciation-plant assets
Goodwill(n)
Total assets
Liables and Equity:
Accounts payable
Dividend payable
Notes payable
Common shares
Retained earnings
Accumulated other comprehensive income
Total liabilities and equity
Required:
December 31
2021
2020
$ 84,500 $ 37,706
113,100 76,700
302,900 235,300
81,900 109,200
84,500 133,900
507,000 560,000
(152,100) (111,800)
161,200
224,900
1.183.000 1,265,900
$ 38,100 $ 66,300
19,500
41,600
416,000
565,500
322,500
162,500
374,400
370.200
12,500
59,800
$1,163,000 $1,265,000
i. Net income for the 2021 fiscal year was $24,700.
i. On March 1, 2021, land was purchased for expansion purposes. On July 12, 2021,
another section of land with a carrying value of $111,800…
Ahmad Co. had the following balances on
Dec,31 2019: cash flow provided by
operating activities $ 120000, cash flow
used by operating activities $ 75000,
liabilities $ 100000, non-current liabilities $
60000, compute the Financial Liquidity
ratio:
Select one:
a..75
b..45
C..888
d. 1.125
Base on your review of the Mc Donald’s Corporation financial statement, draw at least 4 conclusions in terms of usage of its cash flow, financing, firm’s investment, the primary use of the firms’ cash flow during the year.
Chapter 1 Solutions
FINANCIAL ACCOUNTING
Ch. 1 - Prob. 1MCCh. 1 - Prob. 2MCCh. 1 - Prob. 3MCCh. 1 - Prob. 4MCCh. 1 - Prob. 5MCCh. 1 - Prob. 1QCh. 1 - Prob. 2QCh. 1 - Prob. 3QCh. 1 - Prob. 4QCh. 1 - Prob. 5Q
Ch. 1 - Prob. 6QCh. 1 - Prob. 7QCh. 1 - Prob. 8QCh. 1 - Prob. 9QCh. 1 - Prob. 10QCh. 1 - Prob. 11QCh. 1 - Prob. 12QCh. 1 - Prob. 13QCh. 1 - Prob. 14QCh. 1 - Prob. 15QCh. 1 - Prob. 16QCh. 1 - Prob. 17QCh. 1 - Prob. 18QCh. 1 - Prob. 19MECh. 1 - Prob. 20MECh. 1 - Prob. 21MECh. 1 - Prob. 24MECh. 1 - Prob. 25MECh. 1 - Prob. 26MECh. 1 - Prob. 27ECh. 1 - Prob. 28ECh. 1 - Prob. 29ECh. 1 - Prob. 30ECh. 1 - Prob. 31ECh. 1 - Prob. 32ECh. 1 - Prob. 33ECh. 1 - Prob. 34ECh. 1 - Prob. 35ECh. 1 - Prob. 36PCh. 1 - Prob. 37PCh. 1 - Prob. 38PCh. 1 - Prob. 39PCh. 1 - Prob. 40PCh. 1 - Prob. 41PCh. 1 - Prob. 42PCh. 1 - Prob. 43PCh. 1 - Prob. 44PCh. 1 - Prob. 45PCh. 1 - Prob. 46CPCh. 1 - Prob. 47CPCh. 1 - Prob. 48CPCh. 1 - Prob. 49CPCh. 1 - Prob. 50CP
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