FUND OF ACCT PRIN(LOOSE-LEAF)+ACCESS
25th Edition
ISBN: 9781264753277
Author: Wild
Publisher: MCG
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Chapter 1, Problem 6PSB
To determine
Introduction: The financial statements of a company include a
To prepare: The cash flow statement for the current year.
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Students have asked these similar questions
Appendix statement of cash flows using indirect method for the year ending march 31-20y5-omega
QUESTION
REQUIRED
Use the information provided below to prepare the Cash Flow Statement of Jonah Ltd for the year ended 31
December 2022. (Some of the figures have already been entered in the answer book.)
INFORMATION
The Statement of Comprehensive Income of Jonah Ltd for the year ended 31 December 2022 and
Statement of Financial Position as at 31 December 2021 and 2022 are as follows:
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2022
Sales
Cost of sales
Gross profit
Other operating income
Gross income
Distribution expenses
Administrative expenses
Earnings before interest and tax
Interest income
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Esmings before tax
Company tax
Earnings after interest and tax
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER:
ASSETS
Non-current assets
Land and buildings
Plant and machinery
Current assets
Inventories
Accounts receivable
Total assets
EQUITY AND LIABILITIES
Equity
Ordinary share capital
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14. Cash Flow Statement
Required: Prepare a statement of Cash Flows For Year Ended December 31, 2021
Use Proper Format and Indirect Method
The comparative balance sheets of Street Inc. at the beginning and end of the year 2021
are as follows:
Cash
Accounts Receivable
Inventory
Property, Plant and Equipment
Accumulated Depreciation
Marketable Securities
Loan Receivable
Total Assets
Accounts Payable
Income Taxes Payable
Dividends Payable
Lease Liability
Common Stock
Capital in Excess of Par
Retained Earnings
Total Liabilities and Stockholders Equity
Street, Inc.
Income Statement
For Year Ended December 31, 2021
Sales
Cost of Good Sold
Gross Profit
Depreciation Expense
Administrative Expense
Earnings Before Interest and Taxes
Interest Expense
Earnings Before Taxes
Taxes
Net Income
Dec 31st
$600,000
332,000
4,100,000
600,000
550,000
(325,000) (300,000)
1,250,000 1,000,000
100,000
$6,557,000 $6,070,000
$180,000 $140,000
45,000
46,000
10,000
January 1st
$320,000
300,000
4,100,000
$4,000,000…
Chapter 1 Solutions
FUND OF ACCT PRIN(LOOSE-LEAF)+ACCESS
Ch. 1 - Prob. 1QSCh. 1 - Prob. 2QSCh. 1 - Prob. 3QSCh. 1 - Prob. 4QSCh. 1 - Prob. 5QSCh. 1 - Prob. 6QSCh. 1 - This icon highlights assignments that enhance...Ch. 1 - Prob. 8QSCh. 1 - Prob. 9QSCh. 1 - Prob. 10QS
Ch. 1 - Prob. 11QSCh. 1 - Identifying items with financial statements P2...Ch. 1 - P2
Classify each of the following items as...Ch. 1 - P2
Classify each of the following items as assets...Ch. 1 - Preparing an income statement P2...Ch. 1 - Prob. 16QSCh. 1 - Prob. 17QSCh. 1 - Prob. 18QSCh. 1 - Prob. 19QSCh. 1 - Prob. 20QSCh. 1 - Prob. 21QSCh. 1 - Prob. 1ECh. 1 - Exercise 1-2 Identifying accounting users and uses...Ch. 1 - Prob. 3ECh. 1 - Prob. 4ECh. 1 - Prob. 5ECh. 1 - Prob. 6ECh. 1 - Prob. 7ECh. 1 - Prob. 8ECh. 1 - Prob. 9ECh. 1 - Prob. 10ECh. 1 - Prob. 11ECh. 1 - Prob. 12ECh. 1 - Prob. 13ECh. 1 - Prob. 14ECh. 1 - Prob. 15ECh. 1 - Prob. 16ECh. 1 - Prob. 17ECh. 1 - Prob. 18ECh. 1 - Prob. 19ECh. 1 - Prob. 20ECh. 1 - Prob. 21ECh. 1 - Prob. 22ECh. 1 - Prob. 23ECh. 1 - Prob. 24ECh. 1 - Prob. 25ECh. 1 - Prob. 1PSACh. 1 - Prob. 2PSACh. 1 - Prob. 3PSACh. 1 - Prob. 4PSACh. 1 - Prob. 5PSACh. 1 - Prob. 6PSACh. 1 - Prob. 7PSACh. 1 - Prob. 8PSACh. 1 - Prob. 9PSACh. 1 - Prob. 10PSACh. 1 - Prob. 11PSACh. 1 - Prob. 1PSBCh. 1 - Prob. 2PSBCh. 1 - Prob. 3PSBCh. 1 - Prob. 4PSBCh. 1 - Prob. 5PSBCh. 1 - Prob. 6PSBCh. 1 - Prob. 7PSBCh. 1 - Prob. 8PSBCh. 1 - Prob. 9PSBCh. 1 - Prob. 10PSBCh. 1 - Prob. 11PSBCh. 1 - On October 1. 2019, Santana Rev launched a...Ch. 1 - Prob. 1AACh. 1 - Prob. 2AACh. 1 - Prob. 3AACh. 1 - Prob. 1DQCh. 1 - Technology is increasingly used to process...Ch. 1 - Prob. 3DQCh. 1 - What are at least three questions business owners...Ch. 1 - Prob. 5DQCh. 1 - Describe the internal role of accounting for...Ch. 1 - Identify three type of services typically offered...Ch. 1 - Prob. 8DQCh. 1 - Why is accounting described as a service activity?Ch. 1 - What are some accounting-related professions?Ch. 1 - Prob. 11DQCh. 1 - Prob. 12DQCh. 1 - Prob. 13DQCh. 1 - A business reports its own office stationary on...Ch. 1 - Why is the revenue recognition principle needed?...Ch. 1 - Prob. 16DQCh. 1 - Prob. 17DQCh. 1 - What events or transactions change equity?Ch. 1 - Prob. 19DQCh. 1 - What do accountants mean by the term revenue?Ch. 1 - 21. Define net income and explain its...Ch. 1 - Identify the four basics financial statements of a...Ch. 1 - Prob. 23DQCh. 1 - 24. Give two examples of expenses a business might...Ch. 1 - Prob. 25DQCh. 1 - Prob. 26DQCh. 1 - Prob. 27DQCh. 1 - Prob. 28DQCh. 1 - Prob. 1BTNCh. 1 - Prob. 2BTNCh. 1 - Visit the EDGAR database at SEC.gov. Access the...Ch. 1 - Prob. 4BTN
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