fav3chp10-12 - Problem 12-11 Historical Restated Cash...

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Problem 12-11 Historical Fraction Restated Cash    100,000    100,000 Accounts receivable 1,200,000 1,200,000 Inventory    800,000    800,000 Land    400,000 260 / 100 1,040,000 Building 1,000,000 260 / 100 2,600,000 Accumulated depreciation    (   200,000) 260 / 100    (   260,000) Equipment    500,000 260 / 125 1,040,000 Accumulated depreciation    (   250,000)     260 / 125    (   520,000     ) Total assets 3,5 50,000 6,000,000 Accounts payable    600,000    600,000 Share capital 2,000,000 260 / 100 5,200,000 Retained earnings      950,000    200,000 Total liabilities and equity 3,550,000 6,000,000 Problem 12-12                                         2007                                         _                                        2008______                           Historical Fraction    Restated    Historical   Fraction Restated Cash 3,000,000 200/120    5,000,000    4,250,000    4,250,000 Inventory 2,200,000 200/110    4,000,000    3,000,000   200/160 3,750,000 Equipment (net) 1,500,000 200/100    3,000,000    1,400,000   200/100 2,800,000 Land      4,500,000 200/100    9,000,000    4,500,000   200/100      9,000,000    11,200,000  21,000,000  13,150,000      19,800,000     Current liabilities 1,500,000 200/120    2,500,000    2,000,000    2,000,000 Noncurrent liabilities 6,000,000 200/120  10,000,000    6,500,000    6,500,000 Share capital 3,000,000 200/100    6,000,000    3,000,000   200/100 6,000,000 Retained earnings         700,000    2,500,000    1,650,000         5,300,000    11,200,000  21,000,000  13,150,000    19,800,000   157
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Historical Fraction Restated Sales 8,000,000 200 / 160    10,000,000 Cost of good sold: Inventory – 1/1 2,200,000 200 / 110 4,000,000 Purchases 5,200,000 200 / 160 6,500,000 Goods available for sale 7,400,000    10,500,000 Inventory – 12/31 3,000,000 200 / 160      3,750,000 Cost of sales 4,400,000 6,750,000 Gross income 3,600,000 3,250,000 Gain on purchasing power                   -___     2,850,000 Total income 3,600,000 6,100,000 Expenses: Selling and administrative 1,700,000 200 / 160 2,125,000 Depreciation    100,000 200 / 100    200,000 Total 1,800,000 2,325,000 Income before tax 1,800,000 3,775,000 Income tax    500,000 200 / 160    625,000 Net income 1,300,000 3,150,000 Add: Retained earnings, January 1   700,000 2,500,000 Total 2,000,000 5,650,000 Less: Dividend    350,000 200 / 200    350,000 Retained earnings, December 31
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This note was uploaded on 08/26/2010 for the course DOA 503 taught by Professor Chu during the Spring '10 term at University of Santo Tomas.

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fav3chp10-12 - Problem 12-11 Historical Restated Cash...

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