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ABC Company Ltd.

Balance Sheet
Assets Current Asset: Cash Account Receivable Inventory Prepaid Expense Long Term Investment Land Building Inv. Acc. Depreciation (Building) Office Equipment Acc. Dep.(Equipment) Intangible Asset Total Asset 115,850 296,000 144,000 7800 3600 150,000 462,000 91,000 159,730 (43,400) 19,200 1,434,180 121,850 314,500 110,000 5800 8600 125,000 462,000 79,000 167,230 (45,600) 24,000 1,482,780 2012 2011

Liabilities and Owners Equity Current Liabilities: Account Payable Notes Payable Accrued Liabilities Taxes payable Bonds Payable Mortgage Payable Common Stock $10 per share Paid up Capital Retained Earnings Total liabilities 2012 133,750 75,700 5000 20,000 210,000 330,000 366,000 90,000 209,730 1,434,180 2011 233,750 145,700 _ _ 310,000 350,000 300,000 60,000 93,330 1,482,780

ABC Company Ltd. Income Statement

Net Sales Cost of Goods sold Gross margin Operating Expense (Including Depreciation 12,000 in Building 23,100 on Equipment, 48,000 on amortization) Operating Income Other Income (Expenses) Interest Expense Dividend Income Gain on Sale Loss on Sale Income before Tax Income Tax Net Income

1,650,000 (920,000) 730,000

470,000 2, 60,000

(55,000) 34,000 12,500 (2,300)

(41,400) 218,600 (52,200) 1, 66,600

1. Long term investment that cost 70,000, where sold at a gain of 12,500; Additional long term investments were made of 20,000. 2. Land proceeds for 250,000. 3. Equipment that cost 37,500 with acc. Dep. 25,300 was sold at a loss of 2,300. New equipment costing 30,000 was purchased. 4. 100,000 notes were repaid; Additional 30,000was borrowed using notes. 5. Bonds payable of 100,000 were converted to 6,000 shares of common stock. 6. Mortgage payable was reduced by 20,000. 7. Cash dividend was 50,000.

ABC Company Ltd. Statement of Cash Flows


1.Cash flow from operating activities:
Net Income Depreciation Gain on sale Loss on sale Changes in Current Assets and Current Liabilities Decrease in Account Receivable Increase in inventory Incr. in Prepaid expense Decr. In Account Payable Decr. In Notes payable Incr. in Accrued liabilities Incr. in tax payable Net Cash flow from operating activities 18,500 (21,000) (2,000) (100,000) (70,000) 5,000 20,000 1, 66,400 39,900 (12,500) 2,300

1, 19,800 46,600

2.Cash flow from Investing activities:


Sale of investment Purchase of investment Purchase of land sale of equipments Purchase of equipment Net Cash flow from investing activities 82,500 (20,000) (25,000) 9,900 (30,000) 17,400

3.Cash flow from Financing activities:


Repaid notes Notes borrowed Reduce mortgage payable Dividends paid Net Cash flow from Financing activities (100,000) 30,000 (20,000) (50,000) (70,000)

Net Decrease (Increase) in Cash

(6,000)

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