I need help with income statement, balance sheet, and cash flows per the Year 4 directive and transaction worksheet!
Transaction Details Opening Balance Purchase Direct Labor Manufacturing Overhead Pay Employee Van Depreciation Loss on Sale of Van Sell Book Bags Sell Book Bags Subscription Revenue Earned Subscription cost of sales Stock - Take Furniture Depreciation Interest Expenses Shop Insurance Transfer to RE Closing Balance Assets Transacl Property, tion Transactio Raw Work in Finished Accounts Plant and Prepayme Accrued No. n Date Cash Inventory Materials process Goods Receivable Equipment nts Income $ 23,400 $ 34,000 $ 30,000 $ 20,500 $ 1,500 $ 400 1 15-Apr $ 2,000 2 15-May $ 1,500 3 30-May $ (750) $ 750 4 15-Jun$ (1,500) 5 30-Jun $ (750) 5 30-Jun $ 10,000 $ (12,750) 6 20-Jull $ 150 6 20-Jul $ (60) 7 1-Nov 7 1-Nov $ (6,000) 8 31-Dec $ (1,400) S (1,750) $ 3,150 9 31-Dec $ (1,000) 10 31-Dec $ (3,000) 11 31-Dec $ (1,000) $ 28,300 $ 28,000 $ 600 $ 500$ 3,090 $ 30,000$ 6,000 $ 500 $ 400 Transaction Details Opening Balance Purchase Direct Labor Manufacturing Overhead Pay Employee Van Depreciation Loss on Sale of Van Sell Book Bags Sell Book Bags Subscription Revenue Earned Subscription cost of sales Stock - Take Furniture Depreciation Interest Expenses Shop Insurance Transfer to RE Closing Balance Liabilites S/H Funds Transac tion Transactio Dividends Tax Account Accured Unearned Salary Share P&L Retained No. n Date Payable Payable payable Bank Loan Liabilities Revenue Payable capital Account Earnings $ 10,000 $ 20,000 $ 3,000 $10,000 $ 20,000 $ 46,800 1 15-Apr $ 2,000 2 15-May $ 1,500 3 30-May 4 15-Jun $ (1,500) 5 30-Jun $ (750) 5 30-Jun $ (2,750) 6 20-Jul $ 150 6 20-Jul $ (60) 7 1-Nov $ (10,000) $ 10,000 7 1-Nov $ (6,000) 8 31-Dec 9 31-Dec $1,000 10 31-Dec $ (3,000) 11 31-Dec $ (1,000) $ 4,410 $ (4,410) $ $ $ 12,000 $ 20,000 $ 3,000 $ $ $ 20,000 $ $ 42,390 | Anya's Bookstore Part D - Year 4 of Operations During the year (2018) of operation, Anya plans to start manufacturing her own range of re-usable book bags which she plans to start selling. The bookstore has the following transactions: 1. April 15th: Purchased $2,000 of raw material on account, to manufacture re- usable book bags to sell. 2. May 15th. A new staff member sewed together the book bags. The employee is owed $1,500 3. May 30th: Paid $750 cash on direct manufacturing overheads (e.g. utilities) required for making the book bags. 4. June 15th Paid the employee the $1,500 owed for making the book bags. 5. June 30th Anya decides to sell the delivery van receiving $10,000 in cash. The depreciation charge for the six-months of June is $750. The delivery van had a total accumulated depreciation of $2,250 at the time of its sale. 6. July 20th Sold 10 book bags for $15 cash each. The cost of manufacturing the book bags was $6 each. 7. 31 October: Anya has completed the subscription service from November 1st Year 3 8. December 31: A physical count of the manufacturing inventory indicates that Anya has $600 of raw material on hand, $500 of work-in-process and has completed manufacturing $3,090 worth of book bags. 9. December 31st: Provide depreciation $1,000 on storage furniture 10. December 31st: Paid interest on the bank loan of $3,000 11. December 31*: Record the portion of the prepaid shop building insurance used in Year 4 (paid July 16 Year 3) Record these transactions in the Year 4 worksheet provided below. Prepare the income statement, balance sheet and cash flow statement. Income Statement (For Year 4) Balance Sheet, As at end of Year 4 Sales Cost of Sales Gross Profit SG&A Expenses Interest Income Current Assets Cash Raw Materials Work-in-Process Finished Goods Inventory (stock) Inventory* Trade Debtors Prepayments Accrued Income Profit before Interest Interest Expense Loss on Sale of Non-Current Asset Net Income Property, Plant & Equipment Total Assets Current Liabilities Trade Creditors Tax Payable Dividend Payable Accrued Liabilities Unearned Revenue Non-current Liabilities Bank Loan Total Liabilities Net Assets Share Capital Retained Earnings Total Shareholders' Equity * Total Inventory is the sum of the Anya's purchased Inventory PLUS all the Raw Material, Work-In-Process and Finished goods i.e. her Manufacturing inventory. Cash Flow Statement (Indirect Method) (For Year 4) Cash Flow Statement (Direct Method) (For Year 4) Net Profit Adjustments for Non-Cash Items Add Back Depreciation Expense Add Back Loss on Sale of Non-Current Asset Deduct Increases in Current Assets Raw Materials Work-In-Process Finished Goods Cash Received from Customers Cash Paid to Suppliers Cash paid for Taxes Cash paid for Interest Total Cash Flow From Operations (Direct Method) Total Cash Flow From Investments Add Decreases in Current Assets Inventory (Stock) Prepayments Total Cash Flow From Financing Activities Subtract Decreases in Current Liabilities Unearned Revenue Starting Cash Ending Cash Total Cash Flow Total Cash Flow (Check) Add Increases in Current Liabilities Trade Creditors Total Cash Flow From Operations (Indirect Method) Proceeds from sale of Non-Current Asset Total Cash Flow From Investments Total Cash Flow From Financing Activities Starting Cash Ending Cash Total Cash Flow Total Cash Flow (Check) Transaction Details Opening Balance Purchase Direct Labor Manufacturing Overhead Pay Employee Van Depreciation Loss on Sale of Van Sell Book Bags Sell Book Bags Subscription Revenue Earned Subscription cost of sales Stock - Take Furniture Depreciation Interest Expenses Shop Insurance Transfer to RE Closing Balance Assets Transacl Property, tion Transactio Raw Work in Finished Accounts Plant and Prepayme Accrued No. n Date Cash Inventory Materials process Goods Receivable Equipment nts Income $ 23,400 $ 34,000 $ 30,000 $ 20,500 $ 1,500 $ 400 1 15-Apr $ 2,000 2 15-May $ 1,500 3 30-May $ (750) $ 750 4 15-Jun$ (1,500) 5 30-Jun $ (750) 5 30-Jun $ 10,000 $ (12,750) 6 20-Jull $ 150 6 20-Jul $ (60) 7 1-Nov 7 1-Nov $ (6,000) 8 31-Dec $ (1,400) S (1,750) $ 3,150 9 31-Dec $ (1,000) 10 31-Dec $ (3,000) 11 31-Dec $ (1,000) $ 28,300 $ 28,000 $ 600 $ 500$ 3,090 $ 30,000$ 6,000 $ 500 $ 400 Transaction Details Opening Balance Purchase Direct Labor Manufacturing Overhead Pay Employee Van Depreciation Loss on Sale of Van Sell Book Bags Sell Book Bags Subscription Revenue Earned Subscription cost of sales Stock - Take Furniture Depreciation Interest Expenses Shop Insurance Transfer to RE Closing Balance Liabilites S/H Funds Transac tion Transactio Dividends Tax Account Accured Unearned Salary Share P&L Retained No. n Date Payable Payable payable Bank Loan Liabilities Revenue Payable capital Account Earnings $ 10,000 $ 20,000 $ 3,000 $10,000 $ 20,000 $ 46,800 1 15-Apr $ 2,000 2 15-May $ 1,500 3 30-May 4 15-Jun $ (1,500) 5 30-Jun $ (750) 5 30-Jun $ (2,750) 6 20-Jul $ 150 6 20-Jul $ (60) 7 1-Nov $ (10,000) $ 10,000 7 1-Nov $ (6,000) 8 31-Dec 9 31-Dec $1,000 10 31-Dec $ (3,000) 11 31-Dec $ (1,000) $ 4,410 $ (4,410) $ $ $ 12,000 $ 20,000 $ 3,000 $ $ $ 20,000 $ $ 42,390 | Anya's Bookstore Part D - Year 4 of Operations During the year (2018) of operation, Anya plans to start manufacturing her own range of re-usable book bags which she plans to start selling. The bookstore has the following transactions: 1. April 15th: Purchased $2,000 of raw material on account, to manufacture re- usable book bags to sell. 2. May 15th. A new staff member sewed together the book bags. The employee is owed $1,500 3. May 30th: Paid $750 cash on direct manufacturing overheads (e.g. utilities) required for making the book bags. 4. June 15th Paid the employee the $1,500 owed for making the book bags. 5. June 30th Anya decides to sell the delivery van receiving $10,000 in cash. The depreciation charge for the six-months of June is $750. The delivery van had a total accumulated depreciation of $2,250 at the time of its sale. 6. July 20th Sold 10 book bags for $15 cash each. The cost of manufacturing the book bags was $6 each. 7. 31 October: Anya has completed the subscription service from November 1st Year 3 8. December 31: A physical count of the manufacturing inventory indicates that Anya has $600 of raw material on hand, $500 of work-in-process and has completed manufacturing $3,090 worth of book bags. 9. December 31st: Provide depreciation $1,000 on storage furniture 10. December 31st: Paid interest on the bank loan of $3,000 11. December 31*: Record the portion of the prepaid shop building insurance used in Year 4 (paid July 16 Year 3) Record these transactions in the Year 4 worksheet provided below. Prepare the income statement, balance sheet and cash flow statement. Income Statement (For Year 4) Balance Sheet, As at end of Year 4 Sales Cost of Sales Gross Profit SG&A Expenses Interest Income Current Assets Cash Raw Materials Work-in-Process Finished Goods Inventory (stock) Inventory* Trade Debtors Prepayments Accrued Income Profit before Interest Interest Expense Loss on Sale of Non-Current Asset Net Income Property, Plant & Equipment Total Assets Current Liabilities Trade Creditors Tax Payable Dividend Payable Accrued Liabilities Unearned Revenue Non-current Liabilities Bank Loan Total Liabilities Net Assets Share Capital Retained Earnings Total Shareholders' Equity * Total Inventory is the sum of the Anya's purchased Inventory PLUS all the Raw Material, Work-In-Process and Finished goods i.e. her Manufacturing inventory. Cash Flow Statement (Indirect Method) (For Year 4) Cash Flow Statement (Direct Method) (For Year 4) Net Profit Adjustments for Non-Cash Items Add Back Depreciation Expense Add Back Loss on Sale of Non-Current Asset Deduct Increases in Current Assets Raw Materials Work-In-Process Finished Goods Cash Received from Customers Cash Paid to Suppliers Cash paid for Taxes Cash paid for Interest Total Cash Flow From Operations (Direct Method) Total Cash Flow From Investments Add Decreases in Current Assets Inventory (Stock) Prepayments Total Cash Flow From Financing Activities Subtract Decreases in Current Liabilities Unearned Revenue Starting Cash Ending Cash Total Cash Flow Total Cash Flow (Check) Add Increases in Current Liabilities Trade Creditors Total Cash Flow From Operations (Indirect Method) Proceeds from sale of Non-Current Asset Total Cash Flow From Investments Total Cash Flow From Financing Activities Starting Cash Ending Cash Total Cash Flow Total Cash Flow (Check)
