Corporate Finance
Essay by lavanya07 • December 13, 2016 • Coursework • 310 Words (2 Pages) • 981 Views
Page 1 of 2
CORPORATE FINANCIAL ACCOUNTING
PROBLEM SET 1
QUESTION 1
- Which of the following items would be recorded as an asset on a company's balance sheet?
Option b: A bill for sale to a customer on credit.
- In the event of a company going bankrupt:
Option a: The claims of liability holders gets paid first.
- Using the information below calculate the ending total asset of Lisa Inc.
|
| ASSETS |
|
| LIABILITIIES+EQUITY |
| I/S |
| |
| Cash | Building | Inventory | Share | Loan | AP | RE | Sales | COGS |
1 | 2000 | 2000 |
|
| |||||
2 | -300 | 300 |
|
|
| ||||
3 | 500 |
| 500 |
|
| ||||
4 | -300 | 300 |
| 300 |
|
| |||
5 | 400 | -250 |
| 400 | -250 | ||||
TB | 2300 | 300 | 50 | 2000 | 500 | 300 | 150 | -400 | 250 |
|
|
|
|
|
|
|
| 0 | 0 |
INCOME STATEMENT OF LISA INC FOR THE YEAR ENDING------ | |||||||||
SALES | 400 |
| |||||||
COGS | -250 |
| |||||||
GP | 150 |
| |||||||
EXP | 0 |
| |||||||
EBIT | 150 |
| |||||||
INT | 0 |
| |||||||
PBT | 150 |
| |||||||
TAX | 0 |
| |||||||
PAT/NI |
| 150 |
|
|
| ||||
| BALANCE SHEET OF LISA INC AS ON ----- |
| |||||||
| ASSETS |
| LIABILITIES | ||||||
CASH | 2300 | SHARES | 2000 | ||||||
BUILDING | 300 | RE | 150 | ||||||
INVENTORY | 50 | LOAN | 500 | ||||||
|
| ACCPAY | 300 | ||||||
|
| 2950 |
|
| 2950 |
...
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