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

[+ M.Tariq Malik]

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

[+ M.Tariq Malik]

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[+ M.Tariq Malik]

Assignment
Below given is the Balance Sheet of Haider Corporation. The company is involved 
in the business to Textile and Weaving and is operating as a public limited 
company since year 2000. 
Requirement:
Critically evaluate the Balance Sheet of Haider Corporation and specify your 
criticism on the items of Balance Sheet and explain proper treatment of any item 
criticized.
For example; 
 Patent mentioned under the head of Plant Asset should be classified as 
Intangible Asset instead of Plant Asset.

                                                        Haider Corporation Company Ltd.
                                                                         31-Dec-18
Assets
      Current Assets:
Cash (including Rs. 20,000 restricted for notes payable) 80,000
Marketable securities 30,000
Accounts Receivables, less allowance for doubtful accounts of Rs. 12,000 95,000
Inventory 75,000
Total Current Assets 280,000
Plant Assets:
Land 200,000
Building, net 100,000
Equipment 120,000
Less: Accumulated Depreciation 20,000 100,000
Patent 27,000
Organizational Costs 13,000
Total Plant Assets 440,000
Other Assets:
Prepaid Insurance 30,000
Total Assets 750,000
             Liabilities & Stockholders' Equity:
Current Liabilities:
Accounts Payable 90,000
Wages Payable 30,000
Notes Payable, due July, 2020 28,000
Bonds Payable, due December 2025 150,000
Total Current Liabilities 298,000
Dividend Payable
Deferred Tax Liability,80,000   Long Term 77,000
Stockholders' Equity
Common Stock (Rs, 10 par, 50,000 shares authorized, 20,000 
shares outstanding 200,000 
Retained Earnings 95,000
Total Stockholders' Equity 295,000
Total Liabilities and Stockholders' Equity 750,000

[m.tahir]

need idea

[Abrish]

yahn pe kaisy discuss krty hain mujhay smjh ni aarhi

[hassan habib]

Solution Please

[Zaheer Bashir]

kindly give idea/solution

[m.tahir]

Assets
Current Assets:
Cash		60,000
Marketable securities		30,000
Accounts Receivables		83,000
Inventory		75,000
248,000     fixed Assets:
Land		200,000
Building, net		100,000
Equipment		120,000
Less: Accumulated Depreciation	20,000			100,000
total fixed assets       Other assets Patent		4,57000         27,000
Organizational Costs		13,000
Prepaid insurance		30,000
70,000
Total Assets		775000

 

 

 

Current Liabilities:
Accounts Payable	90,000
Wages Payable	30,000
Notes Payable, due July, 2020 Notes payabe due on dec 2018	28,000 20,000
Bonds Payable, due December 2025	150,000
Total Current Liabilities	318,000

 

 

Dividend Payable                                                                              85,000

Deferred Tax Liability, Long Term         Stockholders' Equity Common Stock                                                              200,000 Retained Earnings 95,000     Total Stockholders' Equity                                                                                                                                                                                                                        295,000

77,000           775000

[Abrish]

thank you

[Basit ali]

ap ka answer thk nai hy

[Muhammad Bilal]

Plant Assets:

Land                                                       200,000  

                                              

Building, net                                            100,000

                                              

Equipment                                     120,000   

                                            

Less: Accumulated Depreciation        20,000

                                                             100,000                                                             Total Plant Assets                              400000

                    

                     

[Basit ali]

fin623 gdb ka solution chaya sir aj last date hy.. kindly help me.

[Muhammad Bilal]

Current Liabilities:

Accounts Payable           90,000

Wages Payable              30,000

Dividend Payable           80000

Total Current Liabilities   200000