question1

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question 2

question3

Pharoah Industries Ltd., a Nanaimo, British Columbia-based company, has a December 31 year end. The company's comparative statement of financial position and its statement of income for the most recent fiscal year are presented here, along with some additional information: 1. During the year, Pharoah Industries sold, for $620 cash, equipment that had an original cost of $1,240 and a net carrying amount of $250. 2. Pharoah Industries borrowed an additional $9,920 by issuing notes payable in 2024. 3. During the year, the company purchased a piece of land for a future manufacturing site for $248,000. The land was purchase with no money down and the company entered into a mortgage payable for the full amount. 2024 2023 Assets Current assets Liabilities and shareholders' equity Current liabilities Accounts payable $7,4405003708,310049,60031,00059,890$148,800 PHAROAH INDUSTRIES LTD. Statement of Income For the year ended December 31, 2024 \begin{tabular}{lr} \hline Sales & $161,200 \\ Cost of goods sold & 99,200 \\ \cline { 2 } Gross margin & 62,000 \\ Expenses & \\ Rent expense & 8,800 \\ Wages expense & 11,900 \\ Depreciation expense & 24,800 \\ Interest expense & 740 \\ Income tax expense & 640 \\ Gain on sale of equipment & (370) \\ \cline { 2 } Net income & $15,490 \\ \hline \hline \end{tabular} PHAROAH INDUSTRIES LTD. Statement of Cash Flows, Indirect Method $ lon-cash investing and financing activities: During the year, land with a value of $ was acquired by signing a mortgage payable for the full amount. PHAROAH MOVING COMPANY Comparative Statement of Financial Position PHAROAH MOVING COMPANY Statement of Income For the year ended December 31, 2024 \begin{tabular}{lr} Moving revenue & $450,100 \\ Gain on sale of vehicles & 4,000 \\ \cline { 3 } & 454,100 \end{tabular} Expenses Additional information: 1. Vehicles that cost $65,000 and had a net carrying amount of $10,000 were sold for $14,000. 2. A cash payment was made to reduce the bank loan. 3. Dividends were declared and paid during the year. Prepare a statement of cash flows for Pharoah Moving Company for the year ended December 31,2024 , using the indirec method. (Show amounts that decrease cash flow with either a - sign e.g. 15.000 or in parenthesis e.g. (15.000).) Supplementary disclosures Cash paid for interest Question 3 of 3 Question 3 of 3 Other expenses: Prepare a statement of cash flows for Whispering Ltd. for the year ended December 31,2024 , using the indirect m amounts that decrease cash flow with either a - sign e.g. - 15,000 or in parenthesis e.g. (15,000).) Supplemental Cash Flow information: Cash paid for interest $