Please use the image below to prepare an income statement for 2021 and 2022 for the company. Life-Positive's Account 2021 ($) 2022 ($)BalancesAccounts Payable 24,600.0Ꮎ 21,250.9ᎾAccounts receivable 15,700.00 12,340.00Cash | 23,458.9Ꮎ 28,600.ᎾᎾCost of goods sold 19,780.00 22,ᎾᏬe.ᎾᎾDepreciation 3,090.00 4,590.8eDividends | 5,800.00 10,800.00Interest 2,340.00 2,899.0-Inventory 7,05e.ee 8,640.00Long-term debt | 28,009.00 30,000.0Net fixed assets 41,500.00 48,ᎾᎾᎾ ᎾᎾOther expenses 2,400.00 2,800.ee58,ᎾᎾᎾ.00 62,500.0ᎾSalesShort-term Notes Payable 2,890.00 2,340.00Shares outstanding 85,000.00 90,ᎾᎾᎾᎾᎾThe tax rate is 32%

The income statement demonstrates profitability by disclosing revenue earned during the period as…

Life-Positive's Account 2021 ($) Balances 2022 ($) Accounts Payable 24,6ᎾᎾ.00 21,250. ᎾᎾ Accounts receivable 15,700.0Ꮎ 12,340.00 Cash | 23,450.ᎾᎾ [ 28,600.00 Cost of goods sold 19,700.0Ꮎ 23,000.ee Depreciation | 3,090.ee Dividends | 5,800.00 4,590.00 10,80Ꮎ ᎾᎾ Interest 2,340.00 2,890.00 Inventory 7,050. ᎾᎾ 8,640.00 Long-term debt | 28,ᎾᎾᎾ.00 30,ᎾᎾᎾ . ᎾᎾ Net fixed assets 41,500.00 48,0Ꮎe.0Ꮎ 0ther expenses 2,40e.ᎾᎾ2,80ᎾlᎾᎾ Sales 58,ᎾᎾᎾ ᎾᎾ 62,5ᎾᎾ ᎾᎾ Short-term Notes Payable 2,890.00 2,340,ᎾᎾ The tax rate is 32% Shares outstanding 85,000.00 90,ᎾᏬᏬ ᎾᎾ

Life-Positive's Account 2021 ($) Balances 2022 ($) Accounts Payable 24,6ᎾᎾ.00 21,250. ᎾᎾ Accounts receivable 15,700.0Ꮎ 12,340.00 Cash | 23,450.ᎾᎾ [ 28,600.00 Cost of goods sold 19,700.0Ꮎ 23,000.ee Depreciation | 3,090.ee Dividends | 5,800.00 4,590.00 10,80Ꮎ ᎾᎾ Interest 2,340.00 2,890.00 Inventory 7,050. ᎾᎾ 8,640.00 Long-term debt | 28,ᎾᎾᎾ.00 30,ᎾᎾᎾ . ᎾᎾ Net fixed assets 41,500.00 48,0Ꮎe.0Ꮎ 0ther expenses 2,40e.ᎾᎾ2,80ᎾlᎾᎾ Sales 58,ᎾᎾᎾ ᎾᎾ 62,5ᎾᎾ ᎾᎾ Short-term Notes Payable 2,890.00 2,340,ᎾᎾ The tax rate is 32% Shares outstanding 85,000.00 90,ᎾᏬᏬ ᎾᎾ

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Life-Positive’s Account Balances 2021 ($) 2022 ($) accounts payable 24,600.00 21,250.00Accounts receivable 15,700.00 12,340.00Cash 23,450.00 28,600.00Cost of goods sold 19,700.00 23,000.00Depreciation 3,090.00 4,590.00Dividends 5,800.00 10,800.00Interest 2,340.00 2,890.00Inventory 7,050.00 8,640.00Long-term debt 28,000.00 30,000.00Net fixed assets 41,500.00 48,000.00Other expenses 2,400.00 2,800.00Sales 58,000.00 62,500.00Short-term Notes Payable 2,890.00 2,340.00Shares outstanding 85,000.00 90,000.00 tax rate is 32% 4. Calculate the cash flow from assets, cash flow to creditors,and cash flow to stockholders…
Interest on balance with Central bank RO 3500 Interest on fixed deposit RO 1100 Locker rent RO 520 Transfer fees paid RO 880 From the above information, the operating profit will be: O a. RO 2040 O b. RO 1040 C. Ос. RO 2020 O d. RO 3040
Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Income Statements for 2020 and 2021 (including dividends paid and retained earnings).
2020 commmon size liabilities accounts payable $41,498.00 notes payable $18,064.00 2021 common size common based year 14.67% $46,484.00 6.38% $17,635.00 14.52% 5.50% 1.1201
transcribed image text: Luna's savings account had the following balances. Date 04/01/2019 04/17/2019 05/28/2019 06/22/2019 Balance 726,000 782,000 800,000 How much is Luna's ADB for the 2nd quarter of 2019? 535,000 O P752,670.33 O P752,380.43 O P760,648.35 O P761,033.33
Based on this financial data, calculate the Savings Ratio. $7470 Net Worth Liquid Assets $ 4610 Monthly Credit Payments $720 Monthly Savings $ 640 Gross Income Make sure to include zeros and round your answer to 2 decimal places. i.e. 3.55, 1.89, 1.02, 0.09, etc. Do not include a comma or"$" sign in your response. Liabilities Current Liabilities Take-home Pay $ 77300 $2000 $ 3150 $ 4890
Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Balance Sheets for 2020 & 2021.
Interest on balance with Central bank RO 3500 Interest on fixed deposit RO 1100 Locker rent RO 520 Transfer fees paid RO 880 From the above information, the operating profit will be: O a. RO 2040 O b. RO 1040 O c. RO 2020 O d. RO 3040
10 Ji Lui’s statement of financial position was prepared on 31 December 2018. It showed the followingassets and liabilities:$Machinery 7200Trade receivables 800Inventory 1300Other payables 830Creditors 510Cash 180Bank (debit balance) 250a Calculate Ji Lui’s owner’s equity on 31 December 2018. [2 marks]........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................On 1 January 2019, the following transactions took place:i) Ji Lui paid salaries for December 2018 in cash $319.ii) Ji Lui took cash $89 for her own personal…
Accounts Receivable as of December 31, 2020 should amount to: *A. 180,000B. 330,000C. 525,000D. 555,000
ok D Int = Print Compute the annual dollar changes and percent changes for each of the following accounts. (Decreases should be indicated with a minus sign. Round percent change to one decimal place.) 0 ferences # Short-term investments Accounts receivable Notes payable Percent Change = Short-term investments Accounts receivable Notes payable Type here to search Esc fo F1 1 X F2 $ Current Year $ 378,252 100,583 @ 2 0 Horizontal Analysis - Calculation of Percent Change Numerator: 1 Current Year F3 20 #m Prior Year $ 236,897 104,503 91,702 3 378,252 $ 100,583 F4 0 S4 Prior Year $ 236,897 104,503 91,702 F5 $ % 5 Denominator: Dollar Change F6 111,355 (3,920) (91,702) DELL F7 A Percent Change 29.4 % (26.7) % (100.0) % 6 F8 & 7 0 F9 * a 8 F10 9
In Set’ Dec. 31, 2020 statement of financial position, how much should be the accounts payable? *see attached a. P 1,410,000b. P 1,485,000c. P 1,462,500d. P 1,425,000