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The adjusted trial balance of RDE Financial Planners Bhd as of December 31, 2012 shows total assets of RM38,900,000 equal to total liabilities and equity. This includes cash, accounts receivable, inventory, office equipment, accounts payable, unearned revenue, share capital, retained profits, dividends, service revenue, and various expenses. Students are required to prepare the statement of profit or loss and other comprehensive income, statement of changes in equity, and statement of financial position for RDE Financial Planners Bhd for the year ended December 31, 2012 using the information provided in the adjusted trial balance.
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1,800
Instructions
Prepare an income statement, a retained earnings statement, and a classified balance sheet as of December 31, 2014.
P2-3B You are provided with the following information for Vern Corporation, effective as of its April 30, 2014, year-end.
Accounts payable
$ 3,100
Accounts receivable
10,150
Accumulated depreciation—equipment
6,600
Depreciation expense
3,200
Cash
20,955
Common stock
20,000
Dividends
2,800
Equipment
24,250
Sales revenue
20,450
Income tax expense
700
Income taxes payable
300
Interest expense
350
Interest payable
175
Notes payable (due in 2018)
4,700
Prepaid rent
380
Rent expense
660
Retained earnings, beginning
13,960
Salaries and wages expense
5,840
Instructions
(a)
Prepare an income statement and a retained earnings statement for Vern Corporation for the year ended April 30, 2014.
(b)
Prepare a classified balance sheet for Vern as of April 30, 2014.
P2-4B Comparative statement data for Omaz Company and Wise Company, two competitors, are presented below. All balance sheet data are as of December 31, 2014.
Omaz Company
Wise Company
2014
2014
Net sales
$450,000
$900,000
Cost of goods sold
225,000
450,000
Operating expenses
130,000
150,000
Interest expense
6,000
10,000
Income tax expense
15,000
75,000
Current assets
180,000
700,000
Plant assets (net)
600,000
800,000
Current liabilities
75,000
230,000
Long-term liabilities
190,000
200,000
Net cash provided by operating activities
46,000
180,000
Capital expenditures
20,000
50,000
Dividends paid
-0-
5,000
Average number of shares outstanding
200,000
500,000
Instructions
(a)
Compute the net income and earnings per share for each company for 2014.
(b)
Comment on the relative liquidity of the companies by computing working capital and the current ratio for each company for 2014.
(c)
Comment on the relative solvency of the.
Financial Management Group Presentation Slides
Sycal Venture Berhad is a public construction and property development company established in 1980. It has core businesses in construction/infrastructure, property development, and hotels/resorts. It has several subsidiary companies involved in these businesses. In 2015, its revenue decreased 21% year-over-year due to declines in contract revenue and property development revenue. However, it remains profitable through diversification across business segments.
Pararel quiz-intermediate-accounting-11
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2019 FS of CIC as submitted to COA.pdf
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- It includes statements of financial position, financial performance, changes in equity, cash flows, and notes to the financial statements providing details on accounting policies and line items.
- The financial position as of December 31, 2019 shows total assets of P162.4 million, total liabilities of P29.5 million, and total net assets/equity of P132.9 million.
Mb0041 financial and management accounting-SMU Solved MBA semester 1 Assignment
This document provides the details of an assignment for a subject on financial and management accounting. It includes 6 questions assessing various topics like analyzing transactions, detecting and correcting errors in a trial balance, preparing adjusted trial balances, trend analysis, cash flow statements, and comparing absorption and marginal costing. The assignment is out of a total of 60 marks and provides the evaluation scheme for each question.
Financial Management
The document provides an overview of financial analysis tools including financial statements, ratios, and common size statements. It discusses the three main financial statements - the balance sheet, income statement, and statement of cash flows. It then explains how to analyze these statements using common size statements, which express each line item as a percentage of total assets or total sales. Finally, it introduces financial ratio analysis, explaining that ratios are useful for assessing a firm's financial strengths and weaknesses and serving as a basis for decision making. Ratios are computed by dividing one number by another and can provide more informative insights than raw numbers alone.
Exercises Financial Accounting - Cash Flow
The document provides financial information for AAA Company and BBB Inc. including comparative balance sheets, income statements, and notes. It asks to prepare statements of cash flows for both companies using direct and indirect methods. For AAA Company, additional information includes bond premium amortization. For BBB Inc., additional information provides details on various cash flow transactions for the year.
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This document contains an exam for an accounting course, including 5 questions. Question 1 has 5 statements related to accounting procedures and asks students to identify which accounting principles or conventions are violated. Question 2 provides financial information for a company and asks students to prepare a comprehensive income statement. Question 3 provides account balances and additional information, and asks students to prepare a statement of financial position. Question 4 provides various cash, receivable, and inventory information for a company, and asks students to calculate impairment losses, show journal entries, and disclose information in the financial statements. Question 5 provides inventory information for a company and asks students to calculate gross profit rate and prepare a schedule to compute inventory flood loss amounts.
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PMC Projects 2012 Annual Report.pdf
The auditor's report summarizes that:
1) The company has maintained proper records of fixed assets and physical verification was conducted.
2) Statutory dues have generally been regularly deposited with the authorities.
3) There were no material uncertainties that may cast doubt on the company's ability to continue as a going concern.
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The document provides information about completing the accounting cycle for a service business, including preparing various financial statements. It discusses the statement of comprehensive income/financial performance and the key elements included such as revenue, expenses, gains/losses, taxes. Sample statements are presented for Mimito Dental Clinic and Mariell's Beauty Salon. The statement of changes in equity and how it differs for sole proprietorships, partnerships, and corporations is explained. Finally, it covers the statement of financial position format and accounts, as well as an overview of the statement of cash flows including the three main activities of operating, investing, and financing.
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Conversion worksheetGreen shaded cells are from Chapter 5 financial StatementsEnter all amounts as positive numbers. The worksheet is formatted to add debits to assets & expenses and add credits to revenues, liabilities & equityRefr. Account TitlesDebitsCreditsGov'tal Fund Balances Adjustments & EliminationsGovern-mental Funds AdjustedInternal Service FundsBalances for Gov't-wide StmtsDebitsCreditsDebitsCreditsACapital asset64,200,000DEBITS:Accumulated Depreciation28,700,000Cash657,720657,72035,000692,720Net Position35,500,000Cash with Fiscal Agent928,000928,000928,000Investments259,000259,000259,000BCapital asset5,823,100Taxes Receivable, net262,000262,000262,000Capital Outlay Expenditures5,823,100Interest Receivable, net16,85016,85016,850Inventories-37,54037,540CDepreciation Expense4,900,000Due from State Govt.559,000559,000559,000Accumulated Depreciation4,900,000Due from Other Funds-11,200(3,200)14,400Capital Assets64,200,00070,023,10078,40070,101,500DProceeds of bonds4,000,000 both rows5,823,100Other Financing sources- premium on bonds200,000--Bonds payable4,000,000Expenditures (expenses) Current-Premium on bonds200,000 General Govt.1,646,9001,646,900(1,240)1,648,140 Public Safety3,026,9003,026,9003,026,900ENet position12,000,000 Highway and Streets2,481,9002,481,9002,481,900Bonds payable12,000,000 Sanitation591,400591,400591,400 Health724,100724,100724,100FBonds payable800,000 Welfare374,300374,300374,300Bonds Principal800,000 Culture and Recreation917,300917,300917,300Compensated Absences Exp42,00042,00042,000GInterest Expense328,000Other Expenditures (expenses)--Accrued Interest Payable328,000 - Debt Service Principal800,000(800,000)1,600,0001,600,000 - Interest (expenditure/expense)514,000328,000(180,000)1,032,0001,032,000HNet position180,000 both rows(10,000)Interest Expense180,000 - Capital Outlay5,823,100(5,823,100)11,646,20011,646,200 - Depreciation4,900,0004,900,0004,900,000IBonds Payable10,000Other Fin. Uses - Transfers Out1,871,7001,871,700(1,871,700)3,743,400Interest Expense10,000-Total Debits21,454,170105,598,650JDeferred Revenues10,500CREDITS:Revenues- Property Taxes10,500Accounts Payable326,800326,800(19,400)307,400Due to Other Funds40,20040,2003,20037,000KRevenues- Property Taxes21,000Accrued Interest Payable(328,000)(328,000)(328,000)Net Position21,000Bonds Payalbe(12,000,000) both rows800,000(4,000,000)(16,800,000)(16,800,000)LCompensated Absenese Expense42,000Premium on Bonds10,000(200,000)(210,000)(210,000)Compensated Absences Payable42,000Compensated Absence Payable(42,000)(42,000)(42,000)Advance from Water Utility Fund-(15,000)(15,000)MCash35,000Deferred Inflows: Property Taxes10,50010,500-(15,000)Due from Other Funds11,200Accumulated Depreciation(28,700,000)Inventories37,540 both rows(4,900,000)(33,600,000)(33,600,000)Capital assets78,400Revenues-Accounts Payable19,400Property Taxes6,657,50021,000(10,500)6,626,0006,626,000Advance from Water Utility Fund15,000Sales .
Sunbourne (previously Adani Developers) 2012 Annual Report.pdf
The document is an auditor's report on the financial statements of Adani Developers Private Limited for the period of April 1, 2011 to March 31, 2012. The auditor issued a clean report and did not note any qualifications. However, the auditor drew attention to an interest free loan given to a related party where the terms of repayment were not specified. The auditor was unable to comment on the regularity of repayment of this loan.
Adani Developers (later renamed Sunbourne) 2013 Annual Report.pdf
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Assignment2
- 1. BKAF 2043 FINANCIAL ACCOUNTING AND REPORTING 1 Assignment 2 A. The adjusted trial balance of RDE Financial Planners Bhd appears below. RDE FINANCIAL PLANNERS BHD Adjusted Trial Balance 31 December 2012 RM’000 RM’000 Cash 4,400 Accounts Receivable 12,200 Inventory 1,800 Office Equipment 11,000 Accounts Payable 3,800 Unearned Revenue 7,000 Share Capital - Ordinary 10,000 Retained Profits 4,400 Dividends 2,500 Service Revenue 13,700 Office Expense 600 Depreciation Expense 2,500 Tax Expense 2,000 Rent Expense 1,900 38,900 38,900 REQUIRED: Prepare the financial statements of RDE Financial Planner Bhd for the year ended 31 December 2012 as below, using the information from the above adjusted trial balance. (a) Statement of Profit or Loss and Other Comprehensive Income (b) Statement of Changes in Equity (c) Statement of Financial Position