Statement of financial position balances as at 31 December 20X8 and 20X9 are provided below for Laurel Inc.As at 31 DecemberAssetsCashShort-term investmentsAccounts receivableInventoriesLong-term investmentsEquipmentAccumulated depreciation.Patent, netTotal assetsLiabilities and Shareholders' EquityAccounts payableShort-term bank debtCommon sharesRetained earningsTotal liabilities and shareholders' equity$Operating activities:20X9Laurel Inc.Statement of Cash FlowsFor the year ended 31 December 20X9258,500333,500547,000723,500208,5001,717,000(467,000)93,50020X8103,000533,500643,500317,0001,017,000(458,500)117,000$ 3,414,500 $ 2,272,500$ 823,500 $357,000Laurel Inc. additional information:.Net earnings for 20x9 were $720,500.Equipment with an original cost of $417,000 and a NBV of $158,500 was sold for $158,500 during the year.Long-term investments were sold for $143,500 during the year..• Short-term investments acquired are treasury bills with an original term of three months.718,5001,197,0001,037,000977,000577,000$3,414,500 $ 2,272,500Required:Prepare an SCF for 20X9 using the indirect method. Note any assumptions made during your SCF preparation. (Deductible amouand Cash outflows should be indicated with minus sign.)mounts Statement of financial position balances as at 31 December 20X8 and 20X9 are provided below for Laurel Inc.As at 31 DecemberAssetsCashShort-term investmentsAccounts receivableInventoriesLong-term investmentsEquipmentAccumulated depreciation.Patent, netTotal assetsLiabilities and Shareholders' EquityAccounts payableShort-term bank debtCommon sharesRetained earningsTotal liabilities and shareholders' equity$Operating activities:20X9Laurel Inc.Statement of Cash FlowsFor the year ended 31 December 20X9258,500333,500547,000723,500208,5001,717,000(467,000)93,50020X8103,000533,500643,500317,0001,017,000(458,500)117,000$ 3,414,500 $ 2,272,500$ 823,500 $357,000Laurel Inc. additional information:.Net earnings for 20x9 were $720,500.Equipment with an original cost of $417,000 and a NBV of $158,500 was sold for $158,500 during the year.Long-term investments were sold for $143,500 during the year..• Short-term investments acquired are treasury bills with an original term of three months.718,5001,197,0001,037,000977,000577,000$3,414,500 $ 2,272,500Required:Prepare an SCF for 20X9 using the indirect method. Note any assumptions made during your SCF preparation. (Deductible amouand Cash outflows should be indicated with minus sign.)mounts

The cash flow from various activities are recorded under the cash flow statement. The operating…

Statement of financial position balances as at 31 December 20X8 and 20x9 are provided below for Laurel Inc. As at 31 December Assets Cash Short-term investments Accounts receivable Inventories Long-term investments Equipment Accumulated depreciation Patent, net Total assets Liabilities and Shareholders' Equity Accounts payable Short-term bank debt Common shares Retained earnings Total liabilities and shareholders' equity Laurel Inc. additional Information: 20x9 $ 258,500 333,500 547,000 723,500 208,500 1,717,000 (467,000) (458,500) 93,500 117,000 $3,414,500 $2,272,500 20x8 103,000 533,500 643,500 317,000 1,017,000 $ 823,500 $ 357,000 1,197,000 1,037,000 $3,414,500 718,500 977,000 $77,000 $2,272,500

Statement of financial position balances as at 31 December 20X8 and 20x9 are provided below for Laurel Inc. As at 31 December Assets Cash Short-term investments Accounts receivable Inventories Long-term investments Equipment Accumulated depreciation Patent, net Total assets Liabilities and Shareholders' Equity Accounts payable Short-term bank debt Common shares Retained earnings Total liabilities and shareholders' equity Laurel Inc. additional Information: 20x9 $ 258,500 333,500 547,000 723,500 208,500 1,717,000 (467,000) (458,500) 93,500 117,000 $3,414,500 $2,272,500 20x8 103,000 533,500 643,500 317,000 1,017,000 $ 823,500 $ 357,000 1,197,000 1,037,000 $3,414,500 718,500 977,000 $77,000 $2,272,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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