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FIN621 Financial Statement Analysis Assignment No 01 Spring 2019 Solution & Discussion


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Kindly send solution ASAP

kindly send solution plz

Notes payable, due July, 2020                             28000

Bonds Payable, due December 2025                                                   150000

Deferred Tax Liability, Long Term                                 77000

Total Long term Liabilities                                   255000

Bilal sab kindly brief the treatment of Accounts Receivables, less allowance for doubtful accounts of Rs. 12,000                                                                       95,000

and 

Common Stock (Rs, 10 par, 50,000 shares authorized, 20,000
shares outstanding                                                                             200,000

no allowance for doubtful accounts will not be deducted because it is already deducted from Accounts Receivable
common stock (Rs 10 par, 50000 shares authorized, 20000x10 = Rs.200000. It means that authorized share capital of company is 50000 shares but shares issued are 20000 having value of Rs 10 each(par means face value)

Muhammad Bilal Sab Thank You very for your cooperation in this regard

Assignment no 01

Note payable date is written after one year so it is not a current liability. It is a long term liability so it is written under the heading of long term liability.
Deferred tax liability date is written after one year so it is not a current liability. It is a long term liability so it is written under the heading of long term liability.
Patent is an intangible assets so it is written under the heading of current assets instead of plant assets.
Organization cost is not planted cost so it is written under the heading of other assets.
Mark able security date is not mentioned so it is not a current assets it is long term assets.
Deferred tax liability is not current liability it’s write the under the heading of other liability.

In my opinion the format of Balance Sheet is as follows

Asset side

Plant Assets

Other Assets

Current Assets

Liabilities side

Stockholders Equity

Long term Liabilities

Current Liabilities

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