AssetsKesmore CorporationKesmore Corporation's balance sheet as of December 31, 2014, and December 31, 2013, and informationpertaining to its 2014 activities are presented below.CashShort-term investments.Accounts receivable (net)InventoryLong-term investmentsProperty, plant, and equipment (gross)Accumulated depreciationProperty, plant, and equipment (net)GoodwillTotal assetsLiabilities and Stockholders' EquityAccounts payableShort-term debtCommon stockRetained earningsTotal liabilities and stockholders' equityInformation relating to 2014 activities:Net income was $800,000.2014$15,000200,000590,000600,000310,0001,800,000(500,000)doDecember 31,95,000$3,110,000OFR$900,000190,0001,155,000865,000$3,110,000RequiredPrepare a statement of cash flows for 2014 using the indirect method.2013$90,000440,000615,000390,0001,100,000(500,000)600,000105,000$2,240,000$850,000975,000415,000$2,240,000Equipment costing $450,000 and having a book value of $200,000 was sold for $200,000.A long-term investment was sold for $150,000. There were no other transactions affecting long-terminvestments in 2013.Depreciation expense was $250,000. QuestionThe summarised statements of financial position of Standard Inc at 31 December 2014 and 2015are as follows.Issued share capitalShare premiumRetained earningsLong-term loansPayablesBank overdraftTax payableProposed dividendsDepreciationFreehold property at costPlant and machinery at costFixtures and fittings at costInventoriesPlant and machineryFixtures and fittingsTrade receivablesLong-term investmentsCash at bankThe following information is relevant:(a)(b)(c)(d)(e)(f)2015Rs. in '000150,00035,00041,00030,00048,00033,00015,00054,00015,000421,000130,000151,00029,00051,00044,0004,60011,400421,0002014Rs. in ¹000100,00015,00014,00070,00034,00014,00021,5007,50045,00013,000334,000110,000120,00024,00037,00042,800200334,000There had been no disposal of freehold property in the year.A machine tool which had cost Rs. 8,000,000 (in respect of which Rs. 6,000,000 depreciationhad been provided) was sold for Rs. 3,000,000, and fixtures which had cost Rs. 5,000,000 (inrespect of which depreciation of Rs. 2,000,000 had been provided) were sold for Rs.1,00,0000. Profits and losses on those transactions had been dealt with through the statementof profit or loss.The statement of profit or loss charge in respect of tax was Rs. 22,000,000.The premium paid on redemption of the long-term loan was Rs. 2,000,000, which has beenwritten off to the statement of profit or loss.The proposed dividend for 2014 had been paid during the year.Interest received during the year was Rs. 450,000. Interest charged in the statement of profitor loss for the year was Rs. 6,400,000. Accrued interest of Rs. 440,000 is included inpayables at 31 December 2014 (nil at 31 December 2015).The government stock is a long term investment.(g)RequiredPrepare a cash flow statement for the year ended 31 December 2015, together with notes asrequired by IAS 7.

Statement of Cash Flow - Statement of Cash Flow Shows the inflow and outflow of cash during the…

Assets Kesmore Corporation's balance sheet as of December 31, 2014, and December 31, 2013, and information pertaining to its 2014 activities are presented below. Kesmore Corporation Cash Short-term investments. Accounts receivable (net) Inventory Long-term investments Property, plant, and equipment (gross) Accumulated depreciation Property, plant, and equipment (net) Goodwill Total assets Liabilities and Stockholders' Equity Accounts payable Short-term debt Common stock Retained earnings Total liabilities and stockholders' equity Information relating to 2014 activities: Net income was $800,000. Required 2014 $15,000 200,000 590,000 600,000 310,000 dog December 31, 95,000 $3,110,000 OFR $900,000 190,000 1,155,000 865,000 $3,110,000 Prepare a statement of cash flows for 2014 using the indirect method. 2013 $90,000 440,000 615,000 390,000 1,100,000 (500,000) 600,000 105,000 $2,240,000 $850,000 Equipment costing $450,000 and having a book value of $200,000 was sold for $200,000. A long-term investment was sold for $150,000. There were no other transactions affecting long-term investments in 2013. Depreciation expense was $250,000. 975,000 415,000 $2,240,000

Assets Kesmore Corporation's balance sheet as of December 31, 2014, and December 31, 2013, and information pertaining to its 2014 activities are presented below. Kesmore Corporation Cash Short-term investments. Accounts receivable (net) Inventory Long-term investments Property, plant, and equipment (gross) Accumulated depreciation Property, plant, and equipment (net) Goodwill Total assets Liabilities and Stockholders' Equity Accounts payable Short-term debt Common stock Retained earnings Total liabilities and stockholders' equity Information relating to 2014 activities: Net income was $800,000. Required 2014 $15,000 200,000 590,000 600,000 310,000 dog December 31, 95,000 $3,110,000 OFR $900,000 190,000 1,155,000 865,000 $3,110,000 Prepare a statement of cash flows for 2014 using the indirect method. 2013 $90,000 440,000 615,000 390,000 1,100,000 (500,000) 600,000 105,000 $2,240,000 $850,000 Equipment costing $450,000 and having a book value of $200,000 was sold for $200,000. A long-term investment was sold for $150,000. There were no other transactions affecting long-term investments in 2013. Depreciation expense was $250,000. 975,000 415,000 $2,240,000

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter13: Financial Statement Analysis

Section: Chapter Questions

Problem 13.10E

See similar textbooks

Similar questions

Finding operating and free cash flows Consider the balance sheets and selected data from the income statement of Keith Corporation that follow a. Calculate the firm's net operating profit after taxes (NOPAT) for this year. b. Calculate the firm's operating cash flow (OCF) for the year. c. Calculate the firm's free cash flow (FCF) for the year. d. Interpret, compare and contrast your cash flow estimate in parts (b) and (c). a. The net operating profit after taxes is $ (Round to the nearest dollar.)
The following table shows an abbreviated income statement and balance sheet for McDonald's Corporation for 2012. INCOME STATEMENT OF MCDONALD'S CORP., 2012 (Figures in $ millions) Net sales Costs Depreciation Earnings before interest and taxes (EBIT) Interest expense Pretax income Taxes Net income 27,570 17,572 1,405 8,593 520 8,073 2,620 5,453
Fiscal Year Ended Make-ThemCorporation Consolidated Balance Sheet (in thousands except share data) Current assets: Cash and cash equivalents Accounts receivable, net Inventories Prepaid expenses and other current assets Deferred income taxes, net Total current assets Property, plant and equipment, net Other assets TOTAL ASSETS Current liabilities: Accounts payable Accrued compensation and related costs Accrued taxes Current portion of long-term debt ASSETS Total current liabilities Long-term debt $ LIABILITIES AND SHAREHOLDERS' EQUITY Total liabilities Shareholders' equity: Common stock ($0.1 par value)-authorized, 4,000,000 shares; issued and outstanding, 3,500,000. Paid-in capital in excess of par Retained earnings Total shareholders' equity TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY Dec. 31, 2008 $ S $ 369 58 489 107 43 1,066 5,137 1,168 7,371 429 104 132 89 754 2,630 3,384 **** 2,415 1,222 3,987 7,371 $ $ S Dec. 31, 2007 Assume the following information for both years: Net Profit…
The following table shows an abbreviated income statement and balance sheet for McDonald's Corporation for 2012. INCOME STATEMENT OF MCDONALD'S CORP., 2012 (Figures in $ millions) Net sales Costs Depreciation Earnings before interest and taxes (EBIT) Interest expense Pretax income Taxes Net income 27,574 17,576 1,409 8,589 524 8,065 2,628 5,437
Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Depreciation Net plant and equipment Other long-term assets Total Total assets Net sales (all credit) Less: Cost of goods sold Gross profits Less: Other operating expenses Earnings per share (EPS) Dividends per share (DPS) Book value per share (BVPS) Market value (price) per share (MVPS) 2821 $ 75 115 200 $390 ROA ROE $580 110 $470 50 $520 $910 Less: Depreciation Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Net income Less: Preferred stock dividends Net income available to common stockholders Less: Common stock dividends Addition to retained earnings Per (common) share data: 96 96 Earnings before interest, taxes, depreciation, and amortization (EBITDA) 2020 $ 65 110 198 $365 DuPont Analysis times times $471 100 $371 LAK OF EGYPT MARINA, INC. Income Statement for Years Ending December 31, 2021 and 2020…
Assets Current assets: Cash Marketable securities Accounts receivable (net) Inventory Total current assets Investments Plant and equipment Less: Accumulated depreciation Net plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Notes payable Accrued taxes Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders' equity Preferred stock, $ 50 par value Common stock, $ 1 par value Capital paid in excess of par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 611,000 272,000 $ 52,500 22,500 178,000 290,000 $ 543,000 66,200 339,000 $948,200 $ 95,100 78,700 12,000 $ 185,800 159,400 $ 345,200 $ 100,000 80,000 190,000 233,000 $ 603,000 $948,200
Current assets: Cash Short-term investments Accounts receivable Inventories Other current assets Total current assets Long-term investments Property, plant, and equipment, net Other noncurrent assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable Accrued expenses Unearned revenue Short-term debt Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equity: Common stock ($0.00001 par value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity $ 48,844 51,713 22,926 4,106 35,230 162,819 105,341 37,378 32,978 $ 338,516 $ 46,236 43,700 5,522 10,260 105,718 91,807 50,503 248,028 1 45,173 45,314 90,488 $ 338,516
Common-size Balance Sheet. Explain what it is and why it is used inbusiness. Prepare common-size balance sheet for Target with the infoprovided below. Assets CashAccounts receivableInventoryOther current assetsTotal current assetsGross plant and equipmentAccumulated depreciationNet plant and equipmentLong-term investmentsGoodwill, trademarks, andother intangible assetsTotal assets $ Dec 31, 2022$20,2684,8733.2772,886$31,304$25,032-10,065$14,96711,512 32,272 $90,055
ABC Industry and Trade Inc. Balance Sheet as of 31.12.2020 (TL) transactions ASSETS(Assets) I-Current Assets Ready Values Securities Commercial debts Stocks Other Current Assets Current Assets Total I-Fixed Assets Financial Fixed Assets Tangible Fixed Assets Total Fixed Assets TOTAL ASSETS 31.12.2020 Amount Vertical Percent (%) 360.000 12 45.000 1.5 870.000 29 840.000 28 255.000 8.5 2.370.000 79 390.000 13 240.000 8. 630.000 21 3.000.000 100 LIABILITIES(RESOURCES) l-Short Term Liv. resources Financial Debts Trade payables Short Term Foreign Resource Total Il-Long-Term Liabilities Financial Debts Long Term Liv. Source Ball. III-Equity Paid-in capital Profit Reserves Net profit for the period Previous Year's profit Total Equity TOTAL LIABILITIES (RESOURCES) 39.000 1.3 120.000 4 159.000 5.3 81.000 2.7 81.000 2.7 120.000 4 420.000 14 1.950.000 65 270.000 9 2.760.000 92 3.000.000 100 Requested: Calculate the vertical percentages of the Balance Sheet items of ABC Sanayi ve Ticaret A.Ş. dated…
Compute the debt ratio from the data shown below: Balance Sheet (Millions of $) Assets Cash and securities Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Notes payable Accruals Total current liabilities Long-term bonds Total debt Common stock Retained earnings Total common equity Total liabilities and equity Income Statement (Millions of $) Net sales Operating costs except depreciation Depreciation Earnings bef interest and taxes (EBIT) 2007 $1,290 9,890 13,760 $24,940 $18,060 $43.000 $8,170 6,020 4.730 $18,920 $8,815 $27.735 $5,805 2.460 $15.265 $43,000 2007 $51.600 48,246 903 $2,451 K
Condensed financial data of Pat Metheny Company for 2014 and 2013 are presented below: Pat Metheny Comparative Balance Sheet As of December 31, 2014 and 2013 2014 2013 Cash 1,800 1,100Receivables 1,750 1,300Inventory 1,600 1,900Plant assets…
cash flow statment Assets Long term investments long-term assets Brand name & Goodwell The comparative statements of financial position of Lopez Inc. at the beginning and the end of the year 2022 appear as follows. Inventory Accounts receivable Cash Total J Equity and Liabilities Share capital ordinary Retained earnings Accounts payable Income Tax payable Total Ć Lopez Inc. Statements of Financial Position Dec.31, 2022 $ 56,000 115,000 50,000 100,000 65,000 12,000 $398,000 $250,000 61,000 53,000 34,000 $398,000 Jan. 1, 2022 $ 40,000 150,000 43,000 60,000 40,000 43,000 $376,000 $ 200,000 91,000 75,000 10,000 $376,000 Additional information Net income $90,000 Deprecation on long term assets $25,000 dividends of $15,000 were paid in 2022 a long-term asset with a net book value of $10,000 were sold at a gain of $17,000 Instructions From the information given above, prepare a Cash Flow Statement for Lopez Inc. for the period ending 31st Dec., 2022 (Using indirect method). Show very clearly…