Determine total financial liabilities, Financial Accounting

Assignment Help:

From the end of January to the end of December 2010, the XYZ Company experienced the following changes in its assets and liabilities of interest: the company achieved a saving position of $150,000; it sold $150,000 worth of all of its holdings of Canada savings bonds and purchased $100,000 worth of another company's stocks. It paid back a short term loan of $25,000 and invested a total amount of $450,000 in the purchase of new equipment and renovations at its production facilities both in Montreal and Toronto. It decreased its bank deposits by $50,000 and obtained a long term loan of a certain amount from its bank.

(i) Using the flow-of-funds equation, determine what the company's total financial liabilities must have been during the year, 2010.

(ii) Using the TWO METHODS discussed in class, set up the company's flow-of-funds statements for 2010?

(iii) Determine if the company was a net debtor or net creditor during 2010 and calculate by how much such an amount might have been.


Related Discussions:- Determine total financial liabilities

Illustration of consolidated cashflow statements, Illustration of consolida...

Illustration of consolidated cashflow statements The voice of the Nation Limited is a Nairobi based media company. Its Consolidated Income Statement for the year ended 30 April

Receiver necessary statement-bankruptcy, Receiver necessary statement T...

Receiver necessary statement The receiver may, if necessary, require the statement to be submitted by: Past or present officers of the company Persons who have taken

Weighing up the costs and benefits, Weighing up the costs and benefits ...

Weighing up the costs and benefits You may feel that, when considering a piece of accounting information, provided four main qualities identified are present and it's material

Determine the evidence on the usefulness of accounting, Evidence on the use...

Evidence on the usefulness of accounting There are convincing evidence and arguments that accounting information is at least perceived as being useful to users. Various researc

Successive interest computations, Show that if an investment of P dollars d...

Show that if an investment of P dollars declines by 4% during a year , the balance at the end of the year is P(1-.04) that is P(.96) ?

Consolidation, what is consolidation and its features?

what is consolidation and its features?

#title.patnership, AsIDENTIFY THE MAIN PROVISIONS OF THE PARTNERSHIP ACT k ...

AsIDENTIFY THE MAIN PROVISIONS OF THE PARTNERSHIP ACT k question #Minimum 100 words accepted#

Loan stock in subsidiary-group accounts , Loan stock in subsidiary The h...

Loan stock in subsidiary The holding company may also invest in the loan stock of the subsidiary company or part of the loan stock of the subsidiary company. The cost of the loa

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd