70.2K

Verified Solution

Link Copied!

1) Calculcate the common stock using and showing the relevant formulas.

2) Calculcate the cost of sales and current period's retained earnings

The following information is provided for the company 'First Delivery Logistics - FDL' (figures are in euro): Advanced billings and customer deposits Interest income Other long-term liabilities Utilities expense Beginning Retained Earnings Debtors Sales discounts Marketing and promotions expenses Equipment Prepaid expenses Other current assets Closing inventory Sales Insurance Other current liabilities Long-term marketable securities Other general expenses Cash and cash equivalents Cost of sales Goodwill Buildings and improvements Gain from sale of Intangible assets Interest expense Purchases Common stock Administative expenses Other acquired intangible assets (patents and copyrights) Current period's retained earnings Purchases returns Short-term loans payable Creditors 23,000 1,000 30,000 11,000 60,000 121,000 12,000 23,000 330,000 8,000 7,000 40,000 462,000 12,000 3,000 75,000 25,000 119,000 ? 31,000 89,000 38,000 6,000 135,000 ? 32,000 26,000 ? 11,000 62,000 85,000 Other noncurrent assets Current portion of long-term debt Sales returns Vehicles Short-term investments Opening inventory Bank loans (long-term financial obligations) Land Loss from sale of noncurrent assets 14,000 40,000 11,000 47,000 54,000 35,000 120,000 110,000 10,000 There is a declared decision by the company to pay cash dividend of 30,000 in total, but the payment date will be after three months from the publication date of the balance sheet. Also, consider that the tax rate for the company is 20% and the taxes are due at the publication date of the balance sheet. The following information is provided for the company 'First Delivery Logistics - FDL' (figures are in euro): Advanced billings and customer deposits Interest income Other long-term liabilities Utilities expense Beginning Retained Earnings Debtors Sales discounts Marketing and promotions expenses Equipment Prepaid expenses Other current assets Closing inventory Sales Insurance Other current liabilities Long-term marketable securities Other general expenses Cash and cash equivalents Cost of sales Goodwill Buildings and improvements Gain from sale of Intangible assets Interest expense Purchases Common stock Administative expenses Other acquired intangible assets (patents and copyrights) Current period's retained earnings Purchases returns Short-term loans payable Creditors 23,000 1,000 30,000 11,000 60,000 121,000 12,000 23,000 330,000 8,000 7,000 40,000 462,000 12,000 3,000 75,000 25,000 119,000 ? 31,000 89,000 38,000 6,000 135,000 ? 32,000 26,000 ? 11,000 62,000 85,000 Other noncurrent assets Current portion of long-term debt Sales returns Vehicles Short-term investments Opening inventory Bank loans (long-term financial obligations) Land Loss from sale of noncurrent assets 14,000 40,000 11,000 47,000 54,000 35,000 120,000 110,000 10,000 There is a declared decision by the company to pay cash dividend of 30,000 in total, but the payment date will be after three months from the publication date of the balance sheet. Also, consider that the tax rate for the company is 20% and the taxes are due at the publication date of the balance sheet

Answer & Explanation Solved by verified expert

See Answer