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I need help to solve these question, please Question Four: presented below: 31112412015 Assets Land $ 71.000 Equipment 270.000 Accumulated depreciation equipment (69.000) Inventory 180.000
I need help to solve these question, please
Question Four: presented below: 31112412015 Assets Land $ 71.000 Equipment 270.000 Accumulated depreciation equipment (69.000) Inventory 180.000 Accounts receivable 82.000 Cash 63.000 Total 597.000 Equity and Liabilities Share capitalordinary ($1 par) 214.000 Retained earnings 199.000 Bondspayabm(Long%enn) 150000 Accounts payable 34,000 Total 597.000 Additional information: 1. Net income for 2015 was $105,000. 2. Cash dividends of $40,000 were declared and paid. 3. $50,000 of bonds payable were retired through issuance of ordinary shares. Requirement: 1. Prepare a statement of cash flows for 2015 for HP Corporation. 3111210014 5 110.000 200.000 (42.000) 189.000 66.000 22.000 545.000 164.000 134.000 200.000 47.000 545.000 A comparative statement of nancial position for HP Corporation is 2. Determine HP Corporation's current cash debt coverage. cash debt coverage. and free cash ow. Page | 3 Question One: Presented below are the classification Ali Company's use in its statement of financial position: a) Non-current assets. b) Current assets. 1. Investments. c) Equity. 2. Property, plant, and equipment. d) Non-current liabilities. 3. Intangible assets. e) Current liabilities. 4. Other assets. Requirements: Indicate by letter where each of the following items would be classied: 1. Share capitalpreference. 11.Accumulated other comprehensive 2. Goodwill. income. 3. Salaries and wages payable. 12. Notes payable (due next year). 4. Accounts payable. 13. Supplies. 5. Buildings. 14. Share capital ordinary. 6. Trading securities. 15. Land. 7. Current portion of long-term debt. 16. Bond sinking fund. 8. Patents. 17.lnventory. 9. Allowance for doubtful accounts. 18. Prepaid insurance. 10.Accounts receivable. 19. Bonds payable. 20. Income taxes payable. Question Two: Assume the following transactions occurred: a) Issuance of ordinary shares. i) Exchange of furniture for ofce b) Purchase of land and building. equipment. c) Redemption of bonds. j) Purchase of treasury shares. d) Sale of equipment. k) Loss on sale of equipment. e) Depreciation of machinery. I) Increase in accounts receivable during f) Amortization of patent. the year. 9) Issuance of bonds for plant assets. m) Decrease in accounts payable during h) Payment of cash dividends. the year. Requirements: The major classifications of activities reported in the statement of cash ows are operating. investing. and nancing. Classify each of the transactions listed below as: 1. Operating activityadd to net income. Operating activitydeduct from net income. Investing activity. Financing activity. Reported as signicant non-cash activity in the notes to the nancial statements. 9'95\"!\" Page | 1 Question Three: below is the trial balance of Al-Kharj Corp. on December 31, 2015: AI-Kharj Corp. Adjusted Trail balance Dec. 313', 2015 Debit Credit Cash $197,000 Sales Revenue $7,900,000 Trading Securities (at cost 145,000) 153,000 Cost of Goods Sold 4,800,000 Long-term Investments in Bonds 299,000 Long-term Investments in Shares 277,000 Notes Payable (short-term) 90,000 Accounts Payable 455,000 Selling Expenses 2,000,000 Investment Revenue 63,000 Land 260,000 Buildings 1,040,000 Dividends Payable 136,000 Accrued Liabilities 96,000 Accounts Receivable 435,000 Accumulated DepreciationBuildings _ 352,000 Allowance for Doubtful Accounts 25,000 Administrative Expenses 900,000 Interest Expense 211,000 Inventory 597,000 Pension Liability (long-term) 80,000 Notes Payable (long-term) 900,000 Equipment 600,000 Bonds Payable 1,000,000 Accumulated DepreciationEquipment 60,000 Franchises Share CapitalOrdinary ($5 par) 1,000,000 Treasury Shares 191,000 Patents 195,000 Retained Earnings 78,000 Accumulated Other Comprehensive Income 80,000 Total 12,315,000 12,315,000 Requirement: Prepare a statement of nancial position on December 31, 2015. (Hint: Net income is $ 52,000 calculated from the income statement) Page | 2 Question Five: following accounts: Land $ 30,000 Buildings 120,000 Equipment 90,000 Accum. dep. buildings (30,000) Accum. dep. equipment (11,000) Patents 40,000 Current assets ($10,000 is cash} 235,000 Total Assets 474,000 Nora's accounts' balances at the beginning of 2015 included the Bonds payable (long-term) 100,000 Current liabilities 150,000 Share capital ordinary 180,000 Retained earnings 44 000 Total liabilities and equity 474,000 The following information is available during 2015: 1. Net income was $55,000. 2. Equipment was sold for $9,000. (It cost $20,000 and its accumulated depreciation $3,000). .43.\" Patent amortization was $2,500. .0" $13,000. Depreciation expense was $4,000 on the building and $9,000 on equipment. Current assets, other than cash, increased by $25,000. Current liabilities increased by 6. An addition to the building was completed at a cost of $27,000. 7. A long-term investment in debt securities was purchased for $16,000. 8 . Bonds payable of $50,000 were issued. 9. Cash dividends of $25,000 were declared and paid. 10.Treasury shares were purchased at a cost of $1 1 ,000. 11.The cash ending balance is $51,500. Requirements: Prepare a statement of cash ows for 2015. Page | 4Step by Step Solution
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