Question
In: Accounting
The financial reports for White Supplies Limited are as follows: Comparative Balance Sheet for White Supplies...
The financial reports for White Supplies Limited are as follows:
Comparative Balance Sheet for White Supplies Limited as at 30 June 2019
|
2019 |
2018 |
|
|
ASSETS |
||
|
Cash At Bank |
52,000 |
23,000 |
|
Accounts Receivable |
235,000 |
221,000 |
|
Inventory |
73,000 |
55,000 |
|
Prepaid Rent |
6,000 |
5,000 |
|
Motor Vehicles |
75,000 |
102,000 |
|
Accum. Depn – Motor Vehicles |
(22,000) |
(32,000) |
|
419,000 |
374,000 |
|
|
LIABILITIES |
||
|
Accounts Payable |
91,000 |
82,000 |
|
Dividend Payable |
13,000 |
15,000 |
|
Wages Payable |
6,000 |
7,000 |
|
Tax Payable |
15,000 |
13,000 |
|
Loan |
80,000 |
52,000 |
|
205,000 |
169,000 |
|
|
EQUITY |
||
|
Share Capital |
97,000 |
135,000 |
|
Retained Earnings |
117,000 |
70,000 |
|
214,000 |
205,000 |
Income Statement for White Supplies Limited for the year ended 30 June 2019
|
Sales |
1,200,000 |
|
|
COGS |
(500,000) |
|
|
Gross Profit |
700,000 |
|
|
Profit on sale of Motor Vehicle |
2,000 |
|
|
Rent |
51,000 |
|
|
Wages |
530,000 |
|
|
Interest |
8,000 |
|
|
Depreciation Motor Vehicles |
13,000 |
|
|
Profit before Tax |
100,000 |
|
|
Less Tax Expense |
(30,000) |
|
|
Profit |
70,000 |
Additional information:
During the year, a motor vehicle which had cost $27,000 was sold for cash.
Required:
Prepare a Cash Flow Statement for the year ended 30 June 2019. Show all workings
Solutions
ekkarill92 answered 3 years agoRelated Solutions
*Use the Direct cash flow statement method The financial reports for Apple Supplies Limited are as...
*Use the Direct cash flow statement method
The financial reports for Apple Supplies Limited are as
follows:
Comparative Balance Sheet for Apple Supplies Limited as at 30
June 2019
2019
2018
ASSETS
Cash At Bank
52,000
23,000
Accounts Receivable
235,000
221,000
Inventory
73,000
55,000
Prepaid Rent
6,000
5,000
Motor Vehicles
75,000
102,000
Accum. Depn – Motor Vehicles
(22,000)
(32,000)
419,000
374,000
LIABILITIES
Accounts Payable
91,000
82,000
Dividend Payable
13,000
15,000
Wages Payable
6,000
7,000
Tax Payable
15,000
13,000
Loan
80,000...
Complete the balance sheet and sales information in the table that follows for J. White Industries...
Complete the balance sheet and sales information in the table
that follows for J. White Industries using the following financial
data:
Total assets turnover: 1.7
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =
25%
Total liabilities-to-assets ratio: 50%
Quick ratio: 1.10
Days' sales outstanding (based on 365-day year): 36.5 days
Inventory turnover ratio: 3.75
Do not round intermediate calculations. Round your answers to
the nearest whole dollar.
Partial Income Statement
Information
Sales
$
Cost of goods...
Complete the balance sheet and sales information in the table that follows for J. White Industries...
Complete the balance sheet and sales information in the table
that follows for J. White Industries using the following financial
data:
Total assets turnover: 1.9
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =
25%
Total liabilities-to-assets ratio: 40%
Quick ratio: 1.00
Days' sales outstanding (based on 365-day year): 36.5 days
Inventory turnover ratio: 3.50
Do not round intermediate calculations. Round your answers to
the nearest whole dollar.
Partial Income Statement
Information
Sales
$
Cost of goods...
Complete the balance sheet and sales information in the table that follows for J. White Industries...
Complete the balance sheet and sales information in the table
that follows for J. White Industries using the following financial
data: Total assets turnover: 2.8 Gross profit margin on sales:
(Sales - Cost of goods sold)/Sales = 26% Total
liabilities-to-assets ratio: 45% Quick ratio: 1.15 Days sales
outstanding (based on 365-day year): 38.5 days Inventory turnover
ratio: 4.0 Do not round intermediate calculations. Round your
answers to the nearest whole dollar.
Partial Income
Statement
Information
Sales
$
Cost of goods...
The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is as follows:...
The comparative balance sheet of Navaria Inc. for December 31,
20Y3 and 20Y2, is as follows:
1
Dec. 31, 20Y3
Dec. 31, 20Y2
2
Assets
3
Cash
$155,000.00
$150,000.00
4
Accounts receivable (net)
450,000.00
400,000.00
5
Inventories
770,000.00
750,000.00
6
Investments
0.00
100,000.00
7
Land
500,000.00
0.00
8
Equipment
1,400,000.00
1,200,000.00
9
Accumulated depreciation-equipment
(600,000.00)
(500,000.00)
10
Total assets
$2,675,000.00
$2,100,000.00
11
Liabilities and Stockholders’ Equity
12
Accounts payable
$340,000.00
$300,000.00
13
Accrued expenses payable
45,000.00
50,000.00
14
Dividends payable...
The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is as follows:...
The comparative balance sheet of Livers Inc. for December 31,
20Y3 and 20Y2, is as follows:
Dec. 31, 20Y3
Dec. 31, 20Y2
2
Assets
3
Cash
$155,000.00
$150,000.00
4
Accounts receivable (net)
450,000.00
400,000.00
5
Inventories
770,000.00
750,000.00
6
Investments
0.00
100,000.00
7
Land
500,000.00
0.00
8
Equipment
1,400,000.00
1,200,000.00
9
Accumulated depreciation-equipment
(600,000.00)
(500,000.00)
10
Total assets
$2,675,000.00
$2,100,000.00
11
Liabilities and Stockholders’ Equity
12
Accounts payable (merchandise creditors)
$340,000.00
$300,000.00
13
Accrued expenses payable (operating expenses)
45,000.00
50,000.00...
The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows:...
The comparative balance sheet of Whitman Co. at December 31,
20Y2 and 20Y1, is as follows:
1
Dec. 31, 20Y2
Dec. 31, 20Y1
2
Assets
3
Cash
$918,000.00
$964,800.00
4
Accounts receivable (net)
828,900.00
761,940.00
5
Inventories
1,268,460.00
1,162,980.00
6
Prepaid expenses
29,340.00
35,100.00
7
Land
315,900.00
479,700.00
8
Buildings
1,462,500.00
900,900.00
9
Accumulated depreciation-buildings
(408,600.00)
(382,320.00)
10
Equipment
512,280.00
454,680.00
11
Accumulated depreciation-equipment
(141,300.00)
(158,760.00)
12
Total assets
$4,785,480.00
$4,219,020.00
13
Liabilities and Stockholders’ Equity
14
Accounts payable (merchandise...
The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is as follows:...
The comparative balance sheet of Livers Inc. for December 31,
20Y3 and 20Y2, is as follows:
1
Dec. 31, 20Y3
Dec. 31, 20Y2
2
Assets
3
Cash
$626,640.00
$585,760.00
4
Accounts receivable (net)
226,900.00
208,390.00
5
Inventories
641,350.00
616,130.00
6
Investments
0.00
239,300.00
7
Land
328,730.00
0.00
8
Equipment
705,940.00
553,530.00
9
Accumulated depreciation-equipment
(166,970.00)
(148,000.00)
10
Total assets
$2,362,590.00
$2,055,110.00
11
Liabilities and Stockholders’ Equity
12
Accounts payable (merchandise creditors)
$425,140.00
$404,540.00
13
Accrued expenses payable (operating expenses)
42,020.00...
The comparative balance sheet of Whitman Co. at December 31, 2016 and 2015, is as follows:...
The comparative balance sheet of Whitman Co. at December 31,
2016 and 2015, is as follows:
1
Dec. 31, 2016
Dec. 31, 2015
2
Assets
3
Cash
$918,420.00
$965,310.00
4
Accounts receivable (net)
828,210.00
762,450.00
5
Inventories
1,268,100.00
1,162,260.00
6
Prepaid expenses
29,220.00
35,270.00
7
Land
315,170.00
479,410.00
8
Buildings
1,463,110.00
901,510.00
9
Accumulated depreciation-buildings
(409,500.00)
(383,260.00)
10
Equipment
512,060.00
454,500.00
11
Accumulated depreciation-equipment
(141,780.00)
(159,530.00)
12
Total assets
$4,783,010.00
$4,217,920.00
13
Liabilities and Stockholders’ Equity
14
Accounts payable (merchandise...
The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows:...
The comparative balance sheet of Whitman Co. at December 31,
20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets
Cash $ 659,790 $ 711,930 Accounts receivable (net) 600,410 547,630
Inventories 910,510 837,930 Prepaid expenses 21,110 25,070 Land
226,970 343,090 Buildings 1,049,070 646,590 Accumulated
depreciation-buildings (296,910) (277,110) Equipment 369,480
326,600 Accumulated depreciation-equipment (101,610) (114,140)
Total assets $3,438,820 $3,047,590 Liabilities and Stockholders'
Equity Accounts payable (merchandise creditors) $ 653,380 $ 689,480
Bonds payable 192,570 0 Common stock, $20...
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