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- The following are extracts from the financial records of ABC Ltd for the year ended31 August 2021.ABC LtdExtract from the Statement of financial statement as at 31 August 2021 31 August 2021 - R 30 August 2020 - R Bank Inventories - Trade Goods Trade Recievables Trade payables Prepaid Expenses Prepaid Expenses Accrued Expenses; interest Accrued Expenses; other SARS - income tax payable Dividens payable 50000 22000 77000 44000 1800 1000 5700 8000 1500 20000 30000 69000 46000 1200 2400 4400 3000 2700 ABC LtdExtract from the Statement of profit or loss and other comprehensive incomefor the year ended 31 August 2021 Sales 592000 Cost of sales (301000 Gross profit 291000 Profit on sale of Equipment 9000 Depreciation 41000 Interest Expense 2600 Income tax expense 15200 Profit for the year 110300 Additional information: 1. The dividends declared for the current year is R2 400 Required:Prepare only the “Cash flows from operating activities” section…Kindly verify the basic accounting equation balances. the assets, liabilities and Stockholder's Equity. Table of Contents VISA INC. CONSOLIDATED BALANCE SHEETS September 30, 2019 September 30, 2018 (in millions, except par value data) Assets Cash and cash equivalents $ 7,838 $ 8,162 Restricted cash equivalents—U.S. litigation escrow (Note 4 and Note 5) 1,205 1,491 Investment securities (Note 6) 4,236 3,547 Settlement receivable 3,048 1,582 Accounts receivable 1,542 1,208 Customer collateral (Note 4 and Note 11) 1,648 1,324 Current portion of client incentives 741 340 Prepaid expenses and other current assets 712 562 Total current assets 20,970 18,216 Investment securities (Note 6) 2,157 4,082 Client incentives…The following information is available in respect of Vegas plc for the last 2 years ended 31 December. Non-current Assets (at Net Book Value) Current Assets: Inventory Trade receivables Cash at bank Equity and Liabilities: Equity Share capital £1 Share premium Revenue reserve Vegas plc: Statement of Financial Position 31.12.2021 Non-current Liabilities: Loan Current Liabilities: Trade payables Taxation (accrual) Operating profit Taxation £000 390 462 80 88 142 £000 2,100 932 3.032 900 50 852 1,802 1,000 230 3.032 274 (156) 118 (87) 31 31.12.2020 Vegas plc: Income Statement (Extract) for the year ended 31.12.2021 £000 Dividends Retained profit for the year The following information is also available: • There were no non-current asset disposals during the year. • Depreciation for the year was £240,000. £000 210 346 50 73 137 £000 1,975 606 2.581 700 821 1,521 850 210 2.581 Prepare, in a suitable format, the Statement of Cash Flow for Vegas plc for the year ended 31.12.2021, presenting…
- BBB Company had the following assets at December 31, 2022: Cash (of which P25,000 is earmarked for the acquisition of equipment) - P490,000 Trading Securities (including P200,000 investment in FVTOCI) - P380, 000 Accounts Receivable, net (including P500,000 due from an officer on December 31, 2024) - P1, 250,000 Non-Trade Notes Receivable (due in equal semi-annual installments of P50, 000 every March 1 and September 1) - P300,000 Merchandise Inventory - P900, 000 Prepaid Expenses - P80,000 Plant and Equipment, net - P3,750,000 How much is the Total Current Assets at December 31, 2022? How much is the Total Non - Current Assets at December 31, 2022?PT Kenanga is a company headquartered in Indonesia to acquire 100% stake in PT Onahara in Japan. The lacal currency is the Yen used for transactions. Transactions for cash receipts and payments are made in Yen. Dividends will be given by PT Kenanga on June 1, 2020. You are asked: a. Make a PT Kenanga Balance Sheet as of December 31, 2020 with the following data: Account name Yen Cash 3.000 Accounts receivable 5.640 Stock 13.900 23.900 Fixed assets Accounts payable 4,886 Capital stack 23.200 Retain earning Sales Cost of goads sald Salaries and wages expenses Depreciation Expense Так екреnse 16.615 9.882 5.906 1.653 209 101 Dividend 214 Date Exchange Rate (Yen) January 2, 2020 1.500 1 June 2020 2.000 31 December 2020 1.650 average 1.800 b. Prepare PT Kenanga's Financial Report c. During 2020 PT Kenanga was experiencing a recession so it had tosell its assets. On Novermber 1, 2020 PT Kenanga sold land to PT Kriya, which is headquartered in Japan for Y6,500. This sale will be paid in full…Total comprehensive income (final total) Net income Change in value of available-for-sale securities Total comprehensive income $ 9,600 Other comprehensive income (subtotal) 10, 100 Change in foreign currency translation (2,200) Use the above information of Prescrip Company to prepare a calendar year-end statement of comprehensive income. (Amounts deducted should be indicated by a minus sign.) Prescrip Company Statement of Comprehensive Income For Year Ended December 31 $ (500) 1,700
- CC Corporation owns a subsidiary in Japan whose financial statements are in Japanese Yen. Dec. 31, 2015 Dec. 31, 2014 ASSETS Cash and cash equivalents Receivables Inventory Property, plant and equipment, net TOTAL ASSETS 30,000 122,500 160,000 255,000 567,500 25,000 147,500 170,000 230,000 572,500 LIABILITIES AND EQUITY Accounts payable Long – term debt Common stock Retained earnings TOTAL LIABILITIES AND EQUITY 55,000 322,500 115,000 75,000 567,500 75,000 285,000 115,000 97,5000 ¥ 572,500 Relevant exchange rates were as follows: January 1, 2014 December 31, 2014 December 31, 2015 Average 2014 September 12, 2014 ¥ 1 = P 45 ¥ 1 = P 42.50 ¥ 1 = P 47.50 ¥1 = 43.75 ¥1 = P 40 CC formed the subsidiary on January 1, 2014. Income of the subsidiary was earned evenly throughout the years and the subsidiary declared dividends worth ¥ 15,000 on September 12, 2014 and none were declared during 2015. 19. How much is the cumulative translation adjustment in 2015? а. Р 625,000 b. Р 568,750 с. Р…the following balances were extracted from the relevant books of accounts of the controller and accountant general department at the end of december, 2019 trail balance as at 31 december, 2019 ghs ghs foreign investment 64,780.50 taxes on domestic goods 40,000.00 taxes on international transactions 94,500.00 personal emoluments 160,000.00 domestic short term loan 6,750.00 domestic medium and loan term loan 42,750.00 ssf contribution 21,200.00 pension and gratuity 18,300.00 taxes on income & properties 155,600.00 contingency fund 67.50 local investment 5,750.00 value added tax 142,300.00 administrative expenses 100,000.00 education trust fund 14,300.00 sinking fund 337.50 road fund arrears 32,000.00 non road fund arrears 11,770.95 grants 29,300.00 district assembly common fund 119.600.00 divestiture proceeds 36,500.00 foreign loan 825.75 cash in hand 1,375.00 counterpart fund 5,280.75 other revenue receipt 21,800.00 interest payment on loan 700.00 service expenditure 14,000.00 loan…Following is the statement of financial position for Kowalski Company in Warsaw, Poland, as of December 31, 2019 (currency in Polish złaty [‘z-wo-tee’], zł): Non-current assets zł 242,000 Equity zł 107,000Current assets 105,000 Non-current liabilities 160,000________ Current liabilities 80,000Total assets zł 347,000 Total equity and liabilities zł 347,000 In addition, Kowalski reported net income for 2019 of zł 140,000, income taxexpense of zł 28,000, and interest expense of zł 9,000. Instructions: A. Compute the debt ratio for Kowalski for 2019. B. Compute the times interest earned for Kowalski for 2019. * Use ‘zl’ if you have difficulty in typing in ‘zł’.
- In 1995, Ajax Manufacturing's German subsidiary has the following balance sheet:Cash, marketablesecuritiesAccounts receivableInventory (at market.Fixed AssetsTotal assetsDM 250,0001,000,0002,700,0005,100,000-----------------DM 9,050,000Current liabilitiesLong-term debtEquityTotal liabilitiesplus equityDM 750,0003,400,0004,900,000---------------DM 9,050,000Suppose the DM appreciates from $0.70 to $0.76 during the period.10.16 Under the current/noncurrent method, what is Ajax's translation gain (loss).?a) a gain of $294,000b) a gain of $192,000c) a loss of $174,000d) a loss of $12,000The 2025 Annual Report of Windsor International contains the following information: (in millions) Total assets Total liabilities Net sales Net income (a) (b) June 29, 2025 $1,399 1,106 2,961 Compute the following ratios for Windsor International for 2025: (c) 132 June 27, 2024 $1,487 1,108 2,941 140 Asset turnover ratio. (Round answer to 3 decimal places, e.g. 0.851 times.) Rate of return on assets. (Round answer to 2 decimal places, e.g. 4.87.) Profit margin on sales. (Round answer to 2 decimal places, e.g. 4.87.) times % %[The following information applies to the questions displayed below.] The accounting records of Jamaican Importers, Incorporated, at January 1, 2024, included the following: Assets: Investment in IBM common shares $ 1,895,000 Less: Fair value adjustment (200,000) $ 1,695,000 No changes occurred during 2024 in the investment portfolio. Required: 1. Prepare appropriate adjusting entry(s) at December 31, 2024, assuming the fair value of the IBM common shares was $1,331, 000.
