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Finance & Pro Forma Module Instructions 1) Random Financial Accounts For: Company A 1) Prepare the Financial Statements for Company A: Statement of Comprehension Income
Finance & Pro Forma Module Instructions | 1) Random Financial Accounts For: | Company "A" |
1) Prepare the Financial Statements for Company "A": Statement of Comprehension Income or Income Statement & Statement of Financial Position or Balance Sheet Statement From the Random Accounts Provided. *Hint - you will need to read 1A and complete 1B & 1C in order to do this | Revenue | $2,000,000 |
Goodwill | $25,000 | |
Machinery | $375,000 | |
Total Assets | $3,000,000 | |
Cash & Cash Equivalent | $95,000 | |
Administrative Expenses | 5.00% | |
Cost of Sales | 52.00% | |
Trades Payable | $215,000 | |
1A) Make sure to use EBIT (Earnings Before Interest & Taxes) & EBT (Earning Before Taxes) for the Comprehensive Income Statement or Income Statement. Determine the Amount of Net Income and the Distribution of it via Dividends and Retention ratio. Also make sure that the Balance sheet is in Equilibrium by changing the appropriate Sub-Account. | Other Current Asset | $27,000 |
Depreciation | $75,000 | |
Plant & Equipment | $1,450,000 | |
Intellectual Property | $50,000 | |
Common Shares | $2,000,000 | |
Inventory | $180,000 | |
Distribution Costs | 27.00% | |
Trade Receivable | $212,000 | |
* Finance Cost (1C) | $45,000 | |
Retained Earnings (RE) | ||
Income Tax Payable | $55,000 | |
Short-Term Debt Payable | $150,000 | |
Prepaid Expenses | $65,000 | |
Long-Term Bonds | $500,000 | |
Other Fixed Assets | $521,000 |
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