FAR

PROBLEM 1

Question 1: How much is the total current assets?

Question 2: How much is the total noncurrent assets?
PROBLEM 2

Question 3: What amount should be reported on December 31, 2021 for current liabilities?
Question 4: What amount should be reported on December 31, 2021 for noncurrent liabilities?
PROBLEM 3

Question 5: What total amount should BTS Company report as shareholders’

equity?

PROBLEM 4
Question 6: How much is the Cost of Goods Sold? *

Question 7: How much is the Gross Profit? *

Question 8: How much is the Total Selling Expenses/Distribution Costs? *

Question 9: How much is the net income? *

Question 10: How much is the Total Comprehensive Income? *

PROBLEM 5

Question 11: How much is the net cash provided (used) by operating activities during 2021? *
Question 12: How much is the net cash provided (used) by investing activities during 2021? *
Question 13: How much is the net cash provided (used) by financing activities during 2021? *
Question 14: How much is the net increase (decrease) in cash and cash equivalents during 2021? *
PROBLEM 6

Question 15: Using the direct method, how much is the collections from customers? *
Question 16: Using the direct method, how much is the payment to suppliers? *
Question 17: How much is the net cash provided (used) by operating activities? *
PROBLEM 7

Question 18: How many ordinary shares are entitled to receive dividends? *
Question 19: How much is the cash dividend payable to preferred shareholders? *
PROBLEM 8

Question 20: Prepare the journal entries using the memorandum entry method.