Answered step by step
Verified Expert Solution
Question
1 Approved Answer
answer me fast please (all parts) Q.2. (1) ABC Company has total net sales of Rs.20,00000 and cost of goods sold of Rs. 12,00000 with
answer me fast please (all parts)
Q.2. (1) ABC Company has total net sales of Rs.20,00000 and cost of goods sold of Rs. 12,00000 with Rs. 300000 other expenses as well. Similarly, the company has paid out Rs.150000 in dividend and beginning retained earnings are 12,00000. Calculate both Net Income and Ending Retained earnings of the ABC Company for the year ended December 2020. (Marks 10) (ii) Identify whether each of the following items would appear in the operating, investing, or financing activities section of the statement of cash flows. Explain your answer for each of the following items b. d e Cash payments for purcbases of merchandise Cash receipts from sale of common stock Cash payments for equipment Cash receipts from sales of goods Cash dividends paid to shareholders Cash payments to employees Cash payments to lenders for interest on loans Cash receipts from collection of principal for loans made to other entities Cash receipts from issuance of bonds Cash receipts from collection of interest on loans made to other entities. h i jStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started