A summarised comparative statement of financial position of
Kangaroo Ltd is presented below.
30-Jun-20
30-Jun-19
Cash...
A summarised comparative statement of financial position of
Kangaroo Ltd is presented below.
30-Jun-20
30-Jun-19
Cash
$80,000
$60,000
Accounts Receivable
$65,000
$90,000
Inventories
$58,000
$62,000
Prepayments
$10,000
$12,000
Land
$90,000
$90,000
Plant
$380,000
$300,000
Accumulated Depreciation
($70,000)
($57,000)
$621,000
$557,000
Accounts Payable
$45,000
$52,000
Long-term Borrowings
$170,000
$200,000
Share Capital
$280,000
$230,000
Retained Earnings
$126,000
$75,000
$621,000
$557,000
Additional information
There were no disposals of land or plant during the year.
A $30 ,000 borrowing was settled through the issue...
The accounting records of Swan Ltd recorded the following
information.
30-Jun-19
30-Jun-20
Accounts receivable
50,000
30,000...
The accounting records of Swan Ltd recorded the following
information.
30-Jun-19
30-Jun-20
Accounts receivable
50,000
30,000
Inventories
87,000
70,000
Prepaid expenses
40,000
30,000
Dividend receivable
21,000
23,000
Land
490,000
1,000,000
Property
4,000,000
4,000,000
Accounts payable for inventories purchased
70,000
80,000
Bills payable
40,000
44,000
Employee benefit liabilities
59,000
42,000
Provision for warranty
40,000
30,000
Debenture
100,000
400,000
Sales revenue
3,800,000
5,000,000
Dividend revenue
28,000
60,000
Depreciation expense
320,000
350,000
Cost of sales
3,900,000
3,500,000
Warranty expenses
80,000
100,000
Other operating...
Boom Ltd has the following comparative data.
BOOM LTD
Statement of financial position as at 30...
Boom Ltd has the following comparative data.
BOOM LTD
Statement of financial position as at 30
June
2020
2019
$
$
Cash
20,050
29,380
Receivables (net)
63,560
57,190
Inventories
59,200
51,300
Property, plant and equipment (net)
207,980
179,170
350,790
317,040
Accounts payable
47,670
57,610
Loan payable (15%)
99,000
99,000
Share capital, $10 each
138,000
118,000
Retained earnings
66,120
42,430
350,790
317,040
Additional information for
2020:
1
Profit was
$19,120
2
Sales on account were $376,000. Sales
returns and allowances amounted to...
The comparative statement of financial position for Cullumber
Retailers Ltd. follows:
CULLUMBER RETAILERS LTD.
Statement of...
The comparative statement of financial position for Cullumber
Retailers Ltd. follows:
CULLUMBER RETAILERS LTD.
Statement of Financial Position
December 31
Assets
2018
2017
Cash
$
0
$
15,000
Accounts receivable
79,000
51,000
Inventory
221,000
166,000
Furniture
137,000
167,000
Accumulated depreciation
(38,000
)
(49,000
)
Total assets
$
399,000
$
350,000
Liabilities and Shareholders’ Equity
Bank overdraft
$
13,000
$
0
Accounts payable
67,000
42,000
Bank loan payable (noncurrent)
88,000
102,000
Common shares
55,000
65,000
Retained earnings
176,000
141,000
Total liabilities...