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    CONFRA2

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    Pia Chan
    The document provides financial information for the assets, liabilities, and equity of a company as of an unspecified date. Total assets are listed as $9,500,000 and include current assets such as cash, accounts receivable, inventory. Non-current assets include property, plant, equipment, land, and goodwill. Total liabilities and equity also equal $9,500,000. Current liabilities include taxes payable and accounts payable. Non-current liabilities include bonds payable. Owner's equity includes share capital, share premium, and retained earnings.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    CONFRA2

    Uploaded by

    Pia Chan
    33 views5 pages
    The document provides financial information for the assets, liabilities, and equity of a company as of an unspecified date. Total assets are listed as $9,500,000 and include current assets such as cash, accounts receivable, inventory. Non-current assets include property, plant, equipment, land, and goodwill. Total liabilities and equity also equal $9,500,000. Current liabilities include taxes payable and accounts payable. Non-current liabilities include bonds payable. Owner's equity includes share capital, share premium, and retained earnings.

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    The document provides financial information for the assets, liabilities, and equity of a company as of an unspecified date. Total assets are listed as $9,500,000 and include current assets such as cash, accounts receivable, inventory. Non-current assets include property, plant, equipment, land, and goodwill. Total liabilities and equity also equal $9,500,000. Current liabilities include taxes payable and accounts payable. Non-current liabilities include bonds payable. Owner's equity includes share capital, share premium, and retained earnings.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    33 views5 pages

    CONFRA2

    Uploaded by

    Pia Chan
    The document provides financial information for the assets, liabilities, and equity of a company as of an unspecified date. Total assets are listed as $9,500,000 and include current assets such as cash, accounts receivable, inventory. Non-current assets include property, plant, equipment, land, and goodwill. Total liabilities and equity also equal $9,500,000. Current liabilities include taxes payable and accounts payable. Non-current liabilities include bonds payable. Owner's equity includes share capital, share premium, and retained earnings.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 5

    ASSETS

    CURRENT ASSETS
    Cash 420,000.00
    Factory supplies 50,000.00
    Accounts receivable 500,000.00
    Claim receivable 20,000.00
    Notes receivable 150,000.00
    Raw materials 200,000.00
    Finished goods 400,000.00
    Financial asset held for trading 250,000.00
    Prepaid Insurance 20,000.00
    Goods in process. 600,000.00
    Allowance for doubtful accounts 50,000.00
    TOTAL 2,560,000.00

    NON-CURRENT
    Investment in bonds 1,500,000.00
    Machinery 2,000,000.00
    Land 1,500,000.00
    Building 4,000,000.00
    Franchise 200,000.00
    Plant expansion fund 500,000.00
    Tools 40,000.00
    Goodwill 100,000.00
    Accumulated depreciation-building 1,600,000.00
    Accumulated depreciation-machinery 1,300,000.00
    TOTAL 6,940,000.00

    TOTAL ASSETS 9,500,000.00


    CURRENT LIABILITIES
    Employees income tax payable 20,000.00
    Notes payable 100,000.00
    Accrued expenses 30,000.00
    Accrued interest on note payable 10,000.00
    Income tax payable 60,000.00
    Accounts payable 300,000.00
    Advances from customers 100,000.00
    TOATL 620,000.00

    NON- CURRENT LIABILITIES


    Serial bonds payable (500,000 due every July 1 of each year) 2,500,000.00
    TOTAL 2,500,000.00

    OWNER'S EQUTY
    Share capital 5,000,000.00
    Share premium 500,000.00
    Retained earnings 880,000.00
    TOTAL 6,380,000.00

    TOTAL LIABLITIES AND OWNERS EQUITY 9,500,000.00


    DISTRIBUTION COST
    Advertising 1,500,000.00
    Freight out 800,000.00
    Sales salaries and commissions 700,000.00
    TOTAL 3,000,000.00
    ADMINISTRATIVE EXPENSE
    Accounting and legal fees 1,200,000.00
    Interest 300,000.00
    Loss on sale of long-term investment 2,250,000.00
    Officers' salaries 2,200,000.00
    Rent for office space 1,400,000.00
    TOTAL 7,350,000.00
    DISTRIBUTION COST
    Rent for office space equally shared by sales and accounting 2,400,000.00
    Freight in 1,750,000.00
    Freight out 1,600,000.00
    Sales representative salaries 2,150,000.00
    TOTAL 7,900,000.00
    ADMINISTRATIVE EXPENSE
    Interest on inventory loan 2,100,000.00
    Loss on abandoned data processing equipment 350,000.00
    Legal and audit fees 1,700,000.00
    Officers' salaries 1,500,000.00
    Insurance 850,000.00
    Research and development expense 1,000,000.00
    TOTAL 7,500,000.00
    Bangladesh Company
    Statement of Comprehensive Income
    Dec-31
    Sales 50,000,000.00
    Cost of goods sold - 30,000,000.00
    Correction of inventory error, net of tax - credit - 1,000,000.00
    Gross Profit 19,000,000.00
    Investment income 3,000,000.00
    Total Income 22,000,000.00
    Expenses:
    Distribution costs 5,000,000.00
    General and administrative expenses 4,000,000.00
    Dividends declared 250,000.00
    Interest expense 2,000,000.00 11,250,000.00
    Income before tax 10,750,000.00
    Income tax expense - 5,000,000.00
    Net Income 5,750,000.00
    Other Comprehensive Income
    Gain on early extinguishment of long-term debt 500,000.00
    Gain on expropriation 2,000,000.00
    Comprehensive income 8,250,000.00

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