This paper circulates around the core theme of The balance sheets of the XYZ Limited at the end together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 99. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.
The balance sheets of the XYZ Limited at the end of 2006 and 2007 areas follows:ParticularsAssets2006Rs.2007Rs.CashAccounts receivable(Net)Merchandise Inventory20,000 15,00045,000 50,00040,000 65,000Prepaid expenses10,0005,000Building and equipmentAllowance for deprecation—building and equipmentLand70,000 85,000(7,500) (17,500)45,000 80,000222,500 282,500Liabilities & CapitalRs.Rs.Accounts payableAccrued expensesNotes payable—–Mortgage payableCapital stock, Rs.10 par40,000 50,00012,500 10,00030,00030,000150,000 185,000Retain earnings ( deficit)(10,000)7,500222,500 282,500Land was acquired for Rs. 35,000 in exchange for capital stock, par Rs. 35,000,during the year; equipment of Rs. 15,000 was acquired for cash. Cash dividendsof Rs. 10,000 were charged to retained earnings during the year; the transfer ofnet income (Rs. 27,500) to retained earnings was the only other entry in thisaccount.Required: Prepare a statement of cash flow.
