Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 2 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 15 Aug 2017 My Price 12.00

Beyond Petroleum

12.   Relations between financial statements. The following selected information is based on the Year 7 financial statements adapted from those of Beyond Petroleum (BP). BP applies IFRS and reports its results in millions of  U.S.  dollars. Compute the missing  information in each of the following four independent cases. The letters in parentheses refer to the following:

BS—Balance sheet IS—Income statement SCF—Statement of cash flows

 

a.

Accounts Receivable, January 1, Year 7 (BS) . . . . . . . . . . . . . . . . . . . . . . . . . . .  .

$               ?

 

Sales on Account for Year 7 (IS) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

288,951

 

Collections from Customers on Account during Year 7 (SCF) . . . . . . . . . . . . . . . . . .

289,623

 

Accounts Receivable, December 31, Year 7 (BS) . . . . . . . . . . . . . . . . . . . . . . . . . .

38,020

b.

Income Taxes Payable, January 1, Year 7 (BS) . . . . . . . . . . . . . . . . . . . . . . . . . .  .

$    2,635

 

Income Tax Expense for Year 7 (IS) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10,442

 

Payments to Governments during Year 7 (SCF) . . . . . . . . . . . . . . . . . . . . . . . . . . .

?

 

Income Taxes Payable, December 31, Year 7 (BS) . . . . . . . . . . . . . . . . . . . . . . . . .

3,282

c.

Trade Payables, January 1, Year 7 (BS) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$  42,236

 

Purchases of Supplies during Year 7 (SCF) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  .

15,162

 

Payments to Suppliers during Year 7 (SCF). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

?

 

Trade Payables, December 31, Year 7 (BS) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

43,152

d.

Retained Earnings, January 1, Year 7 (BS). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$  88,453

 

Net Income for Year 7 (IS) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

21,169

 

Dividends Declared and Paid during Year 7 (SCF) . . . . . . . . . . . . . . . . . . . . . . . . .

8,106

 

Retained Earnings, December 31, Year 7 (BS)  . . . . . . . . . . . . . . . . . . . . . . . . . . .

Answers

Maurice Tutor
(5)
Status NEW Posted 15 Aug 2017 12:08 PM My Price 12.00

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