1. Determine the amount of total assets, current assets, and non-current assets at the end of the period, given the following data:

2. Kids ‘n Caboodle, a children's clothing store, had the following cash receipts and disbursements for its first year of operations:
Receipts:
Cash sales ...........................................................................$155,000
Loan precedes ......................................................................$21,000
Total receipts ....................................................................$176,000

Disbursements
Merchandise purchases (all sold this year) ........................$84,000
Wages ...............................................................................$33,000
Rent and lease payments ...................................................$22,000
Other operating outlays .......................................................$7,900
Purchase equipment ..........................................................$10,500
Total disbursements ........................................................$157,400
Increase in Cash Balance ..................................................$18,600
The store has no accounts receivable (it accepts only cash or bank cards for payment). At year-end, an employee had earned $200, which the store had not yet paid. Also, at year-end, the store had not paid its most recent utilities bills, which totaled $150.
Prepare a cash flow statement for the year.
3. QED Electronics Company had the following transactions during April while conducting its television and stereo repair business.
A new repair truck was purchased for $19,000.
Parts with a cost of $1,600 were received and used during April.
Service revenue for the month was $33,400, but only $20,500 was cash sales.
Typically, only 95 percent of sales on account are realized.
Interest expense on loans outstanding was $880.
Wage costs for the month totaled $10,000; however, $1,400 of this had not yet been paid to the employees.
Parts inventory from the beginning of the month was depleted by $2,100.
Utility bills totaling $1,500 were paid. $700 of this amount was associated with March's operations.
Depreciation expense was $2,700.
Selling expenses were $1,900.
A provision for income taxes was established at $2,800, of which $2,600 had been paid to the federal government.
Administrative and miscellaneous expenses were recorded at $4,700.

Prepare a detailed April incomestatement.

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Current liabilities, ending balance Current ratio, ending Owners' equity. beginning balance Inventory. besinning balance S50,000 Purchases during the $40,000 Inventory, ending 30,000 1.6:1 $120.000 35.000 Gross margin Profit Margin 4590 10% Long-term debt, S40,000