Answered step by step
Verified Expert Solution
Question
1 Approved Answer
question: if you have information about Iron Jordanian company as in the table below: Value in 2019 Value in 2018 Items 7.500,000 Net sales 1.515,000
question: if you have information about Iron Jordanian company as in the table below: Value in 2019 Value in 2018 Items 7.500,000 Net sales 1.515,000 50,000 Cash 200,000 General experties 70,000 60.000 A 40,000 Depreciation 45.000 60,000 Marketable sec 60,000 Bleg. Inventory 100,000 60,000 Inventory 20,000 Interest expense 80,000 Tix expense 300,000 Ne purchase 80,000 30,000 MP 150,000 120,000 Revenue received advance 1,755.000 1.280,000 Fixed assets 20,000 10,000 Acerals 75,000 25,000 Bonds 60,000 50.000 Acc. Depreciations 3000,000 3000.000 Common stocks 10,000 10,000 Surplus in capital 90,000 30,000 R/E Additional information: 1- General level price in 1/1/2019 (100), during 2019 (120), in 31/12/2019 (140). 2. The common stocks include 2 issues: 1,800,000 adjusted at 130 general level price and 1.200.000 adjusted at 115 general level price. 3- The additional value in fixed assets adjusted at 50 general level price. 4- Depreciation expense adjusted at 80 general level price. 5. The firm decide to distribute profit in 31/12/2019 as 8,799,434. 6- The firm decide to pay interest & tax expenses in 31/12/2019. 7. The firm adjusted capital surplus at 130 general level price. 8- The monetary items achieved earned from buying power by 53,333. Requirements: 1. Prepare income St. after adjust the effect of inflation. 2. Prepare balance sheet St. after adjust the effect of inflation. question: if you have information about Iron Jordanian company as in the table below: Value in 2019 Value in 2018 Items 7.500,000 Net sales 1.515,000 50,000 Cash 200,000 General experties 70,000 60.000 A 40,000 Depreciation 45.000 60,000 Marketable sec 60,000 Bleg. Inventory 100,000 60,000 Inventory 20,000 Interest expense 80,000 Tix expense 300,000 Ne purchase 80,000 30,000 MP 150,000 120,000 Revenue received advance 1,755.000 1.280,000 Fixed assets 20,000 10,000 Acerals 75,000 25,000 Bonds 60,000 50.000 Acc. Depreciations 3000,000 3000.000 Common stocks 10,000 10,000 Surplus in capital 90,000 30,000 R/E Additional information: 1- General level price in 1/1/2019 (100), during 2019 (120), in 31/12/2019 (140). 2. The common stocks include 2 issues: 1,800,000 adjusted at 130 general level price and 1.200.000 adjusted at 115 general level price. 3- The additional value in fixed assets adjusted at 50 general level price. 4- Depreciation expense adjusted at 80 general level price. 5. The firm decide to distribute profit in 31/12/2019 as 8,799,434. 6- The firm decide to pay interest & tax expenses in 31/12/2019. 7. The firm adjusted capital surplus at 130 general level price. 8- The monetary items achieved earned from buying power by 53,333. Requirements: 1. Prepare income St. after adjust the effect of inflation. 2. Prepare balance sheet St. after adjust the effect of inflation
Step 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