Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A-2.2 The following are the comparative balance sheets for Wilson Sports Limited. Wilson Sports Limited Balance Sheet December 31, 2010 December 31, 2009 500,000 600,000

image text in transcribed

A-2.2 The following are the comparative balance sheets for Wilson Sports Limited. Wilson Sports Limited Balance Sheet December 31, 2010 December 31, 2009 500,000 600,000 1,200,000 50,000 2.350,000 600,000 450,000 1,000,000 62,000 2.112.000 170,000 170,000 Assets Current assets Cash Accounts receivable Inventory Prepaid insurance Total current assets Property, plant, and equipment Land Building Less: Accum. depreciation-Building Building, net Machinery Less: Accum. depreciation-Machinery Machinery, net Total P.P.E. Intangible assets Copyrights 500,000 (125,000) 400,000 (100,000) 375,000 300,000 325,000 (120,000) 285,000 (105,000 180,000 205,000 750,000 650,000 63,000 44,000 3.144,000 Total assets 2,825,000 346,000 50,000 420,000 20.000 396,000 440,000 Current liabilities Accounts payable Unearned revenues Tota current liabilities Long-term liabilities Bonds payable Bank loans payable Total long term liabilities 1,000,000 400,000 1.200,000 100,000 1,400,000 1,300,000 Total liabilities 1.796,000 1,740,000 Shareholders equity Common shares Retained earnings Total shareholders equity 1,000,000 348,000 800,000 285,000 1 348,000 1,085,000 Total liabilities and shareholders equity 3.144,000 2,825,000 CONDI LINDOWS CODE De 700, Nachine wason 20.000 were soorte in 2010, hanno 2019 de Bernardo vendes and in 2011 Required: (a) Prepare the cash flow statement for 2010 for Wilson Sports Limited. (b) Prepare a short summary using the cash flow statement of Wilson's activities in 2010

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Money And Wealth

Authors: Joslyn Pine

1st Edition

0486486389, 9780486486383

More Books

Students also viewed these Accounting questions

Question

Define epistemology.

Answered: 1 week ago

Question

discuss different sources of numerical data;

Answered: 1 week ago

Question

design and evaluate an effective survey instrument;

Answered: 1 week ago

Question

administer a survey to an appropriate sample of respondents;

Answered: 1 week ago