1-In 2016, Omar Co. purchased a machine for 480,000 SAR cash. The machine is expected to produce 2,500,000 units during its useful life and has an estimated salvage value of 80,000 SAR. (3 Marks)Assume that:a.In 2016, Omar Co. produced 600,000 units b.In 2017, 700,000 units were produced.c.In 2018, 500,000 units were produced.d.In 2019, 300,000 units were produced.e.In 2020, the factory was closed for maintenance reasons.f.In 2021, 400,000 units were produced.Calculate the following: (4 Marks) (draw a table)1.The amount of depreciation expense in those years?2.The amount of accumulated depreciation?3.The amount of book value in these years? Answer:2-STC has declared on 23th January to pay 2 SAR per share as cash dividend. Note, STC has 3,000,000 common shares. The dividend will be paid on 28 February to stockholders of record on January 29. -Journalize the required entries? (2 Marks) Answer:3. Below is financial information extracted from financial statements for KHLED Inc. for 2016. items Amounts in thousands of Saudi Riyal Net in come 200 Depreciation expense 15 Increase in accounts receivable 35 Decrease in inventory 30 Increase in accounts payable 20 Proceeds from sale of land 50 Purchases of equipment 20 Proceeds from issuance of common stock 40 Cash dividends 5 Cash, January 1, 2016 100 Required: Prepare cash flow statement for KHALED Inc. for 2016 using indirect method.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more