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Question 1: You are assigned to prepare the income statement for the year ended 31 March 2020 and the balance sheet as at 31 March 2020 based on the following information:
Accounts RM
Cash 31,000
Accounts Receivable 76,000
Supplies 9,500
Office Equipment 12,000
Accumulated Depreciation 3,600
Accounts Payable 24,000
Salaries Payable 16,000
Capital 71,220
Drawings 13,000
Service Revenue 95,400
Interest Income 11,500
Salaries Expense 39,700
Supplies Expense 4,200
Depreciation Expense 1,200
Rental Expense 5,000
Miscellaneous Expense 120
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
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T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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