Questions from Financial Accounting

Q: The balance sheet of EuroTel, a European Union communications firm,

The balance sheet of EuroTel, a European Union communications firm, shows current assets of €20,000 million, current liabilities of €15,849 million, shareholders’ equity of €17,154 million, and noncur...

Q: The balance sheet of GoldRan, a South African mining company,

The balance sheet of GoldRan, a South African mining company, shows current assets of R6,085.1, noncurrent assets of R49,329.8, noncurrent liabilities of R13,948.4, and current liabilities of R4,360.1...

Q: The income statement of GrandRider, a U.K. automotive

The income statement of GrandRider, a U.K. automotive manufacturer, reported revenues of £7,435, cost of sales of £6,003, other operating expenses of £918, a los...

Q: Fresh Foods Group, a European food retailer that operates supermarkets in

Fresh Foods Group, a European food retailer that operates supermarkets in seven countries, engaged in the following three transactions during 2013: (1) purchased and received inventory costing €678 mi...

Q: The income statement of AutoCo, a U.S. automotive

The income statement of AutoCo, a U.S. automotive manufacturer, reported revenues of $207,349, cost of sales of $164,682, other operating expenses, including income taxes, of $50,335, and net financin...

Q: The balance sheet of Veldt, a South African firm, showed

The balance sheet of Veldt, a South African firm, showed a balance in retained earnings of R5,872.4 at the end of 2013 and R4,640.9 at the end of 2012. Net income for the year was R2,362.5 million. Al...

Q: The balance sheet of Delvico, an Indian firm, showed retained

The balance sheet of Delvico, an Indian firm, showed retained earnings of Rs26,575 at the start of a year and Rs70,463 at the end of that year. The firm declared dividends during the year of Rs3,544....

Q: The statement of cash flows for Bargain Purchase, a retailer,

The statement of cash flows for Bargain Purchase, a retailer, showed a net cash inflow from operations of $4,125, a net cash outflow for investing of $6,195, and a net cash inflow for financing of $3,...

Q: The statement of cash flows for Buenco, a firm in Argentina

The statement of cash flows for Buenco, a firm in Argentina, showed a net cash inflow from operations of Ps427,182 and a net cash outflow for financing of Ps21,806. The comparative balance sheets show...

Q: Kenton Limited began retail operations on January 1, 2013. On

Kenton Limited began retail operations on January 1, 2013. On that date it issued 10,000 shares of common stock for £50,000. On January 31, Kenton used £48,000 of the proceeds to rent a store, paying...