Question
In: Accounting
The financial statements for Waverley Ltd are provided below: Waverley Ltd Comparative Balance Sheet As at...
The financial statements for Waverley Ltd are provided below:
Waverley Ltd
Comparative Balance Sheet
As at 30 June 2019 and 2020
|
2019 |
2020 |
|
|
Assets |
||
|
Cash At Bank |
167,000 |
215,000 |
|
Accounts Receivable |
213,000 |
158,000 |
|
Inventory |
68,000 |
73,000 |
|
Prepaid Rent |
4,000 |
5,000 |
|
Buildings |
320,000 |
350,000 |
|
Accumulated Depreciation – Buildings |
(108,000) |
(132,000) |
|
Equipment |
67,000 |
78,000 |
|
Accumulated Depreciation – Equipment |
(25,000) |
(26,000) |
|
706,000 |
721,000 |
|
|
Liabilities |
||
|
Accounts Payable |
236,000 |
228,000 |
|
Dividend Payable |
12,000 |
13,000 |
|
Salary Payable |
18,000 |
20,000 |
|
Tax Payable |
16,000 |
17,000 |
|
Bank Loan |
158,000 |
171,000 |
|
440,000 |
449,000 |
|
|
Equity |
||
|
Capital |
170,000 |
164,000 |
|
Retained Earnings |
96,000 |
108,000 |
|
266,000 |
272,000 |
Waverley Ltd
Income Statement
For the Year Ended at 30 June 2020
|
Sales |
1,000,000 |
|
|
COGS |
(450,000) |
|
|
Gross Profit |
550,000 |
|
|
Profit on sale of Equipment |
2,000 |
|
|
Rent |
42,000 |
|
|
Salary |
400,000 |
|
|
Interest |
12,000 |
|
|
Depreciation Expense – Buildings |
13,000 |
|
|
Depreciation Expense – Equipment |
15,000 |
|
|
(482,000) |
||
|
Net Profit before Tax |
70,000 |
|
|
Less Taxation expense |
(21,000) |
|
|
Net Profit |
49,000 |
Required:
Prepare an extract of the Cash Flow Statement for the year ended 30 June 2020 showing Cash Flows from Operating Activities AND Cash Flows from Financing Activities. Show all workings.
Solutions
ekkarill92 answered 1 year agoRelated Solutions
The financial statements for Waverley Ltd are provided below: Waverley Ltd Comparative Balance Sheet As at...
The financial statements for Waverley Ltd are provided
below:
Waverley Ltd
Comparative Balance Sheet
As at 30 June 2019 and 2020
2019
2020
Assets
Cash At Bank
167,000
215,000
Accounts Receivable
213,000
158,000
Inventory
68,000
73,000
Prepaid Rent
4,000
5,000
Buildings
320,000
350,000
Accumulated Depreciation – Buildings
(108,000)
(132,000)
Equipment
67,000
78,000
Accumulated Depreciation – Equipment
(25,000)
(26,000)
706,000
721,000
Liabilities
Accounts Payable
236,000
228,000
Dividend Payable
12,000
13,000
Salary Payable
18,000
20,000
Tax Payable
16,000
17,000
Bank Loan
158,000...
Comparative balance sheets and the income statements for Ellis Corporation are presented below: Comparative Balance Sheet...
Comparative balance sheets and the income statements for Ellis
Corporation are presented below:
Comparative Balance Sheet
Ending Balance
Beginning Balance
Assets:
Current assets:
Cash and cash equivalents
$
45,900
$
30,600
Accounts receivable
39,500
40,800
Inventory
73,700
62,400
Total current assets
159,100
133,800
Long-term investments
165,200
208,000
Property, plant, and equipment
294,700
163,500
Less accumulated depreciation
53,000
51,500
Total assets
$
566,000
$
453,800
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable
$
39,600
$
43,200
Accrued liabilities
25,700
30,600...
Comparative balance sheets and the income statements for Ellis Corporation are presented below: Comparative Balance Sheet...
Comparative balance sheets and the income statements for Ellis
Corporation are presented below:
Comparative Balance Sheet
Ending Balance
Beginning Balance
Assets:
Current assets:
Cash and cash equivalents
$
48,600
$
33,000
Accounts receivable
39,900
43,200
Inventory
71,000
61,200
Total current assets
159,500
137,400
Long-term investments
168,500
220,000
Property, plant, and equipment
286,300
159,000
Less accumulated depreciation
53,000
52,500
Total assets
$
561,300
$
463,900
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable
$
38,500
$
42,800
Accrued liabilities
25,000
31,800...
Comparative balance sheets and the income statements for Ellis Corporation are presented below: Comparative Balance Sheet...
Comparative balance sheets and the income statements for Ellis
Corporation are presented below:
Comparative Balance Sheet
Ending Balance
Beginning Balance
Assets:
Current assets:
Cash and cash equivalents
$
49,500
$
30,600
Accounts receivable
39,100
43,600
Inventory
71,000
63,000
Total current assets
159,600
137,200
Long-term investments
176,600
208,000
Property, plant, and equipment
303,000
165,000
Less accumulated depreciation
57,200
51,000
Total assets
$
582,000
$
459,200
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable
$
38,200
$
42,400
Accrued liabilities
25,400
30,600...
The financial statements of the Precious Company appear below: PRECIOUS COMPANY Comparative Balance Sheet December 31,...
The financial statements of the
Precious Company appear below:
PRECIOUS
COMPANY
Comparative
Balance Sheet December 31,
_________________________________________________________________________
Assets
2020
2019
Cash
.............................................................................................
$ 25,000
$ 40,000
Debt investments
..........................................................................
20,000
60,000
Accounts receivable (net)
..............................................................
50,000
30,000
Inventory
.......................................................................................
140,000
170,000
Property, plant and equipment (net)
..............................................
170,000
200,000
Total assets
.............................................................................
$405,000
$500,000
Liabilities and stockholders'
equity
Accounts payable
..........................................................................
$ 25,000
$ 30,000
Short-term notes payable
..............................................................
40,000
90,000
Bonds payable
..............................................................................
75,000
160,000
Common shares
............................................................................
160,000...
Financial statements for Kinder Corporation are presented below. KINDER CORPORATION Comparative Balance Sheet December 31  
Financial statements for Kinder Corporation are presented
below.
KINDER CORPORATION
Comparative Balance Sheet
December 31
2015
2014
Assets
Cash...................................................................................................
$
4,000 $
6,000
Accounts receivable
(net)..................................................................
16,000
12,000
Inventory............................................................................................
20,000
18,000
Land...................................................................................................
28,000
8,000
Equipment..........................................................................................
62,000
60,000
Accumulated
depreciation—equipment............................................
(20,000)
(14,000)
Total
assets..................................................................................
$110,000
$90,000
Liabilities and Stockholders' Equity
Accounts
payable..............................................................................
$
10,000
$16,000
Long-term notes
payable...................................................................
34,000
19,000
Common stock ($10 par
value).........................................................
...
The financial statements of Morgan Ltd appear below: Morgan LTD Comparative Statement of Financial Position 31...
The financial statements of Morgan Ltd appear below:
Morgan LTD
Comparative Statement of Financial Position
31 December 2018
________________________________________________________________________________________
Assets
2018
2017
Cash
..................................................................................................
$
25,000
$ 40,000
Marketable securities
...........................................................................
15,000
60,000
Accounts receivable (net)
.....................................................................
50,000
30,000
Inventory
............................................................................................
150,000
170,000
Property, plant and equipment (net)
......................................................
160,000
200,000
Total assets
..................................................................................
$400,000 $500,000
Liabilities and equity
Accounts payable
................................................................................
$
20,000
$ 30,000
Short-term notes payable
.....................................................................
40,000
90,000
Bonds payable...
Ratio Analysis of Comparative Financial Statements A comparative income statement and balance sheet of Miller Electronics...
Ratio Analysis of Comparative Financial Statements
A comparative income statement and balance sheet of Miller
Electronics Corporation for the last two years are shown.
Miller Electronics Corporation
Comparative Income Statement
For Years Ended December 31, 20-2 and 20-1
20-2
20-1
Net Sales (all on account)
$646,120
$414,520
Cost of goods sold
384,590
253,000
Gross profit
$261,530
$161,520
Administrative expenses
$63,249
$41,647
Selling expenses
66,183
44,283
Total operating expenses
$129,432
$85,930
Operating income
$132,098
$75,590
Interest expense
1,316
1,222
Income before...
Horizontal Analysis of Comparative Financial Statements Amounts from the comparative income statement and balance sheet of...
Horizontal Analysis of Comparative Financial Statements
Amounts from the comparative income statement and balance sheet
of Miller Electronics Corporation for the last two years are as
follows:
Miller Electronics
Corporation
Comparative Income Statement
For Years Ended December 31, 20-2 and 20-1
20-2
20-1
Net Sales (all on account)
$652,630
$416,530
Cost of goods sold
387,960
250,560
Gross profit
$264,670
$165,970
Administrative expenses
$65,676
$42,758
Selling expenses
66,261
43,915
Total operating expenses
$131,937
$86,673
Operating income
$132,733
$79,297
Interest expense
1,331 ...
Vertical Analysis of Comparative Financial Statements Amounts from the comparative income statement and balance sheet of...
Vertical Analysis of Comparative Financial Statements
Amounts from the comparative income statement and balance sheet
of Miller Electronics Corporation for the last two years are as
follows:
Miller Electronics Corporation
Comparative Income Statement
For Years Ended December 31, 20-2 and 20-1
20-2
20-1
Net Sales (all on account)
$662,120
$427,020
Cost of goods sold
395,040
263,840
Gross profit
$267,080
$163,180
Administrative expenses
$63,920
$43,090
Selling expenses
66,123
44,353
Total operating expenses
$130,043
$87,443
Operating income
$137,037
$75,737
Interest expense
1,268 ...
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