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FS Preparation 1

The document provides financial data for XYZ Company for the years 2019 and 2020. It includes comparative balance sheets, income statements, and a statement of cash flows. The balance sheet shows increases in cash, receivables, and inventories from 2019 to 2020. The income statement shows increased sales, costs, and net income in 2020 compared to 2019. The cash flow statement indicates the company had a net cash increase of $13,239 from 2019 to 2020.

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Bae Tashnimah Farina Balt
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524 views4 pages

FS Preparation 1

The document provides financial data for XYZ Company for the years 2019 and 2020. It includes comparative balance sheets, income statements, and a statement of cash flows. The balance sheet shows increases in cash, receivables, and inventories from 2019 to 2020. The income statement shows increased sales, costs, and net income in 2020 compared to 2019. The cash flow statement indicates the company had a net cash increase of $13,239 from 2019 to 2020.

Uploaded by

Bae Tashnimah Farina Balt
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Prepare a Comparative Financial Statement of XYZ Company using

the following data:


2020 2019
Cash 181,210.00 167,971.00
Accounts Receivable 5,904.00 5,100.00
Inventories 9,601.00 7,805.00
Fixed Asset 42,350.00 45,500.00
Accounts Payable 4,800.00 3,902.00
Notes Payable 50,000.00 50,000.00
Common Stock 170,000.00 170,000.00
Retained Earnings ? 2,474.00
Sales 118,086.00 102,007.00
Cost of Good Sold 48,004.00 39,023.00
Depreciation Expense 18,150.00 19,500.00
Rent Expense 10,125.00 10,963.00
Salaries 22,658.00 26,427.00
Interest Expense 2,500.00 2,500.00
Taxes 4,858.00 1,120.00
XYZ COMPANY
Comparative Balance Sheet
December 31, 2019 and 2020

ASSETS: 2020 2019


CASH 181,210.00 167,971.00
Accounts Receivable 5,904.00 5,100.00
Inventories 9,601.00 7,805.00
Total Current Assets 196,715.00 180,876.00

Fixed Assets 42,350.00 45,500.00


Total Non-Current Assets 42,350.00 45,500.00

Total Asset ₱ 239,065.00 226,376.00

Liabilities:
Accounts Payable 4,800.00 3,902.00
Notes Payable 50,000.00 50,000.00
Total Current Liabilites 54,800.00 53,902.00

Total Liabilites 54,800.00 53,902.00

Owner's Equity:
Common Stock 170,000.00 170,000.00
Retained Earnings 14,265.00 2,474.00
Total Equity 184,265.00 172,474.00

Total Liability and Equity 239,065.00 226,376.00


XYZ COMPANY
Comparative Income Statement
Year Ended 2019 and 2020

2020 2019 Operating Activities


Sales 118,086.00 102,007.00
Less: Cost of Good Sold 48,004.00 39,023.00
Gross Profit 70,082.00 62,984.00
Other Expenses 32,783.00 37,390.00

Earnings before Interest, Tax


Depreciation Expense 37,299.00 25,594.00
Depreciation Expense 18,150.00 19,500.00 Investing Activities
Earnings before Interest and Tax 19,149.00 6,094.00
Interest Expense 2,500.00 2,500.00
Earnings before Taxes 16,649.00 3,594.00
Taxes 4,858.00 1,120
Net Income 11,791.00 2,474.00
XYZ COMPANY
Statement of Cash Flow
As of December 31, 2020

Operating Activities
Net Income 11,791.00
Deprication 18,150.00
Increase in A/P 898.00
Increase in A/R 804.00
Increase in Invetories 1,796.00
Total Cash Provided by OA 28,239.00

Investing Activities
Investing Activities 15,000.00
Total Cash Provided by IA 15,000.00

Total in Cash Flow 13,239.00


Cash Beginning 167,971.00
Net Cash Flow 181,210.00

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