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- Given the following account balances of MASK RIDER Co. for the year ended December 31, 2020, prepare a Statement of Financial Position using the report form. Mask Rider, capital Beg. Balance PO Contribution 30, d00 DUE ON MAY 15, 2021 Withdrawal 15, 000 Additional cortribution 5, 000 Net Income Ending Balance 57, 450 Property, Plant and Equipment P 300, 000 Accumulated Depreciation 5, 000 Accounts payable B, 110 Uneamed income 1, 395 Cash 44, 535 Prepaid rent 5, 000 Salaries payable 1, 000 Lang-term note payable 23. 000 Accounts receivable 575 Merchandise Inventory 15,345 Utilities payable 4. 00What amount should be recognized by Ripple as profit from sale for the year ended December 31, 2020? *a. 1,150,800b. 1,550,800c. 400,000d. 355,080A. Belowis the Statement of Firancial Position of QM General Merchandise: Increase (Decrease) 2019 2020 Percentage P 192,375 937,508 152,618 P1,282,500 P1,392,750 P 265,500 968,500 159,750 Curent Assets Property, Plant, and Equipment Other Assets Total Assets Liabilities |Total Current Liabilities Long-term debt Owner's Capit al Total Liabilities and Equity P 220,590 491,198 570,713 P1,282,500 P1,392,750 P 225,450 460,250 706,950 Requirements: Prepare a horizontal aralysis for QM General Merchandise.
- Prepare the Statement of Comprehensive Income of Royal Traders for the year ended 28February 2021.INFORMATIONThe trial balance, adjustments and additional information given below were extracted from the accounting records ofRoyal Traders on 28 February 2021, the end of the financial year.ROYAL TRADERSPRE-ADJUSTMENT TRIAL BALANCE AS AT 28 FEBRUARY 2021Balance sheet accounts sectionCapital 301 000Drawings 134 720Vehicles at cost 360 000Equipment at cost 240 000Accumulated depreciation on vehicles 186 000Accumulated depreciation on equipment 62 000Trading inventory 140 000Debtors control 62 000Provision for bad debts 8 000Bank 42 800Cash float 1 000 Creditors control 82 800Mortgage loan: Leo Bank (18% p.a.) 160 000 Nominal accounts section Sales 1 000 000Cost of sales 480 000Sales returns 8 000Salaries and wages 178 000Bad debts 2 000Stationery 4 000Rent expense 42 880Motor expenses 34 000Bad debts recovered 2 000Telephone 14 000Electricity and water 24 000Bank charges 6 000Insurance 12…Barker, Inc. had reported the foilowing details for the year ended December 31, 2019 Net sales $26,550,000 Total assets 16,100,000 Total liabilities 10,200,000 The company's beginning total assets and liabilities were $15,700,000 and S8,200,000, respectively. Calculate the asset turnover ratio for 2019. (Round your answer to two decimal places.) mp.pd Cla Enr O A. 128 times B. 1.67 times OC. 1.93 times OD. 1.46 times Cla Enre22. Following are selected balance sheet accounts of Oriole Bros. Corp. at December 31, 2020 and 2019, and the increases or decreases in each account from 2019 to 2020. Also presented is selected income statement information for the year ended December 31, 2020, and additional information. Selected balance sheet accounts Assets 2020 2019 Increase(Decrease) Accounts receivable $33,900 $23,900 $10,000 Property, plant, and equipment 278,300 246,200 32,100 Accumulated depreciation—plant assets (176,800 ) (168,300 ) (8,500 ) Liabilities and stockholders’ equity 2020 2019 Increase Bonds payable $ 48,800 $46,500 $2,300 Dividends payable 8,000 4,900 3,100 Common stock, $1 par 22,000 19,100 2,900 Additional paid-in capital 9,100 3,000 6,100 Retained earnings 103,200 91,800 11,400…
- 11. Below are the accounts taken from MM Company, December 31, 2019: Assets - 100,000, Current assets - 40,000, Total Equity - 60,000, Current liability - 10,000 How much is the noncurrent liability? A. 50,000 B. 40,000 C. 30,000 D. 20,0001. The following information is from Direct to You Corp.’s (DYC) financial records for its year ended December 31, 2020: Select statement of financial position information: 2020 2019 Investments in financial assets (at fair value through profit or loss [FVPL]) 12,000 10,000 Inventory 575,000 498,000 Property, plant, and equipment (PPE) 1,984,000 1,396,000 Less: accumulated depreciation (650,400) (487,000) Copyright 126,000 135,000 Patents 564,000 417,000 Select statement of comprehensive income information: Depreciation of property, plant, and equipment (334,400) Amortization of patents (65,000) Interest expense (75,000) Impairment loss — copyright (9,000) Gain on sale of PPE 23,000 Additional information: PPE that originally cost $570,000 was sold during the year. 100,000 common shares were issued in 2020 to acquire $450,000 of property, plant, and equipment. DYC is subject to IFRS. What amount of net cash used…Based on IAS 19 (Adjustment 2014) and the following data: Balance as of December 31, 2014: Current service cost Rp 6.000.000 Interest costs Rp 2.000.000 Past service costs Rp 1.000.000 10% Amortization of net actuarial losses Rp 500.000 Unrecognized actuarial losses Rp 17.000.000 Curtailment Rp 1.000.000 Adjustment Rp 1.500.000 What post-employment benefits should be recognized in the income statement for the year ended December 31, 2014 (the Company provides a post-employment benefit plan - defined benefit): A. Rp 29.000.000 B. Rp 12.000.000 C. Rp 9.000.000 D. Rp 6.000.000
- for the year ending december 31 2019, settles inc. eanred an ROI of 8.8%. Sales for the year were 16 million and average asset turnover was 2.1. Average stockholder equity was 2.7 million. a. calculate settles margin and net inccome b. calculate settles return on equityThe following is the trial balance for Amelina Sdn. Bhd. as at 31 December 2020 Additional information: Inventory at 31 December 2020 amounted to $52,360. Rates owing $280, office expenses owing $190. Dividend of 10 per cent proposed. Transfers to reserves: General $1,000; Foreign exchange $800. Depreciation on cost: Buildings 5 per cent; Equipment 20 per cent. Required: Prepare the Statement of Comprehensive Income for the year to and the Statement of Financial Position for Amelina Sdn. Bhd. as at 31 December 2020 for INTERNAL USE. DR CR $ $ Bank 6723 Trade Receiveables 18910 Trade Payables 12304 Inventory at 31/12/19 40360 Buildings at cost 100000 Equipment at cost 45000 Accumulated profits as at 31/12/19 15286 General Reserve 8000 Foreign exchange reserve 4200 Authorized and issued share capital 100000 Purchases 72360 Sales 135486 Carriage inwards 1570 Carriage outwards 1390 Salaries 18310 Rates…17. Halal Berhad’s comparative financial statements for the years ending 31 December 2020, and 2019, are as follows. Halal Berhad’s common stock market price was RM35 on 31 December 2020 and RM40 on 31 December 2019. Halal Berhad Statement of Profit or Loss and Other Comprehensive Income For the years ended 31 December 2020 and 2019 2020 (RM’000) 2019 (RM’000) Sales 1,200 1,000 Cost of goods sold 500 475 Gross Profit 700 525 Selling expenses 240 200 Administrative expenses 180 150 Total operating expenses 420 350 Income from operations 280 175 Other income 166 225 446 400 Other expense (interest) 66 60 Income before income tax 380 340 Income tax expense 80 60 Net income 300 280 Halal Berhad Statement of Financial Position As at 31 December 2020…