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    Cases Chapter 5

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    Rifqi Farhan
    The document provides an adjusted trial balance for Abbey Corporation as of December 31, 2015 and additional financial information. It also provides a condensed comparative statement of financial position for Yoon Corporation for the years ending December 31, 2015 and 2014 along with additional financial information. The instructions are to prepare a classified statement of financial position for Abbey Corporation and a statement of cash flows for Yoon Corporation for 2015, and determine Yoon Corporation's free cash flow.

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    Cases Chapter 5

    Uploaded by

    Rifqi Farhan
    25 views2 pages
    The document provides an adjusted trial balance for Abbey Corporation as of December 31, 2015 and additional financial information. It also provides a condensed comparative statement of financial position for Yoon Corporation for the years ending December 31, 2015 and 2014 along with additional financial information. The instructions are to prepare a classified statement of financial position for Abbey Corporation and a statement of cash flows for Yoon Corporation for 2015, and determine Yoon Corporation's free cash flow.

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    Akuntansi

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    The document provides an adjusted trial balance for Abbey Corporation as of December 31, 2015 and additional financial information. It also provides a condensed comparative statement of financial position for Yoon Corporation for the years ending December 31, 2015 and 2014 along with additional financial information. The instructions are to prepare a classified statement of financial position for Abbey Corporation and a statement of cash flows for Yoon Corporation for 2015, and determine Yoon Corporation's free cash flow.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    25 views2 pages

    Cases Chapter 5

    Uploaded by

    Rifqi Farhan
    The document provides an adjusted trial balance for Abbey Corporation as of December 31, 2015 and additional financial information. It also provides a condensed comparative statement of financial position for Yoon Corporation for the years ending December 31, 2015 and 2014 along with additional financial information. The instructions are to prepare a classified statement of financial position for Abbey Corporation and a statement of cash flows for Yoon Corporation for 2015, and determine Yoon Corporation's free cash flow.

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    Chapter 5

    1. Presented below is the adjusted trial balance of Abbey Corporation at December 31, 2015.
    23
    Debit Credit
    Cash £ ?
    Supplies 1,200
    Prepaid Insurance 1,000
    Equipment 48,000
    Accumulated Depreciation—Equipment £ 9,000
    Trademarks 950
    Accounts Payable 10,000
    Salaries and Wages Payable 500
    Unearned Service Revenue 2,000
    Bonds Payable (due 2022) 9,000
    Share Capital—Ordinary 10,000
    Retained Earnings 20,000
    Service Revenue 10,000
    Salaries and Wages Expense 9,000
    Insurance Expense 1,400
    Rent Expense 1,200
    Interest Expense 900
    Total £ ? £ ?

    Additional information:
    1. Net loss for the year was £2,500.
    2. No dividends were declared during 2015.

    Instructions
    Prepare a classified statement of financial position as of December 31, 2015.

    2. Presented below is a condensed version of the comparative statements of financial position


    for Yoon Corporation for the last two years at December 31 (amounts in millions).

    2015 2014
    Investments 52,000 74,000
    Equipment 298,000 240,000
    Less: Accumulated depreciation—equipment (106,000 (89,000)
    Accounts receivable ) 185,000
    Cash 180,000 78,000
    Share capital—ordinary 157,000 160,000
    Retained earnings 160,000 177,000
    Current liabilities 287,000 151,000
    134,000

    Additional information:
    Investments were sold at a loss of 7,000; no equipment was sold; cash dividends paid
    were 50,000; and net income was 160,000.
    Instructions
    (a) Prepare a statement of cash flows for 2015 for Yoon Corporation.
    (b) Determine Yoon Corporation’s free cash flow.

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