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FIN621 Financial Statement Analysis Assignment No 01 Spring 2019 Solution & Discussion
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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
yahn pe kaisy discuss krty hain mujhay smjh ni aarhi
Solution Please
kindly give idea/solution
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
|
77,000
775000 |
Plant Assets:
Land 200,000
Building, net 100,000
Equipment 120,000
Less: Accumulated Depreciation 20,000
100,000 Total Plant Assets 400000
fin623 gdb ka solution chaya sir aj last date hy.. kindly help me.
Current Liabilities:
Accounts Payable 90,000
Wages Payable 30,000
Dividend Payable 80000
Total Current Liabilities 200000
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