Job Descriptions1bank Manager Citizen Bankjob Purposethe Bank ManagJob Descriptions 1. Bank Manager - Citizen Bank Job Purpose The bank manager is liable for th

Job Descriptions1bank Manager Citizen Bankjob Purposethe Bank Manag ✓ Solved

Job Descriptions 1. Bank Manager - Citizen Bank Job Purpose The bank manager is liable for the powerful administration of branch staff, loaning, tasks, and productivity of the branch. Grows new business and extends existing client connections. Makes and administrations an assortment of credits and keeps an excellent advance portfolio to limit misfortune to the Bank. Promoting and showcasing the branch and its items.

Meeting with clients and settling any issues or protests. Guaranteeing there's an undeniable degree of client support. Checking deals targets. Duties and Responsibilities 1. Activities authority concerning staffing, preparing, execution examinations, advancements, vocation improvement, pay activities, and terminations of subordinate faculty.

2. Keeps an undeniable degree of worker resolve to limit turnover and expand client help fulfillment. 3. Builds up a quality credit portfolio to get the bank's advanced development goals. Acknowledges, directs, breaks down, gathers, and surveys expected archives to start the credit cycle.

Screens credit portfolio to address advance record special cases furthermore, administrations the advance portfolio to lessen past duty and charge offs. 4. Answerable for guaranteeing store development to get the bank's store development targets by advancing the bank's items and administrations. Screens and makes choices on doled out DDA accounts identified with overdrafts, administration charges, return things, charge backs, and so on. 5.

Conveys and executes novel thoughts and promoting systems inside branch market territory to improve deals, strategically pitches, showcasing, and staff advancement. 6. Executes corporate culture through support of value administration and collaboration and keeps an undeniable degree of worker confidence inside the branch. 7. Grows retail and business through the development, maintenance, and improvement systems.

8. Guarantee’s branch consistency with review and administrative systems. Preferred Requirements 1. Four-year college education or comparable experience. 2.

Five to seven years branch the executive's experience. 3. Five years’ experience in a monetary establishment in an immediate loaning capacity. 4. Far reaching information on financial standards and guidelines.

5. Incredible oral and composed relational abilities. 6. Exhibited insight in quality loaning dynamic abilities. 7.

Phenomenal client helping abilities. 8. Administration and training abilities. 2. Personal Banker - Citizen Bank Job Purpose Personal Banker is answerable for suggesting and clarifying financial administrations and items to customers dependent on their necessities.

Overseeing customer financial balances, including opening and shutting accounts, and directing exchanges. Introducing and offering banking administrations and items to existing and imminent clients. Responsibilities incorporate working intimately with customers to decide their financial necessities and to offer individualized support by giving custom-made banking solutions. To be fruitful as a Personal Banker, you should effectively construct and keep up long-haul associations with customers and have the option to determine issues regarding customer accounts, adequately and productively, to guarantee the greatest customer fulfillment. Duties and Responsibilities 1.

Suggesting and clarifying financial administrations and items to customers dependent on their requirements. 2. Overseeing customer ledgers, including opening and shutting accounts, and directing exchanges. 3. Introducing and offering banking administrations and items to existing and forthcoming customers.

4. Referring customers to in-house monetary specialists and additionally important bank offices, like common assets, and trust the board, when vital. 5. Planning documentation to open or close records, including getting marks, and allocating account numbers, when essential. 6.

Preparing applications for charge cards, safe store boxes, and credit demands. 7. Checking ledger subtleties upon customer demand. 8. Examining bank strategies and methods and any progressions influencing approaches and techniques, with customers.

9. Settling customer questions and grumblings. 10. Performing managerial obligations, like information passage, depending on the situation. Preferred Requirements: 1.

Four-year college education in money, business organization, or a connected field. 2. Demonstrated insight as a Personal Banker. 3. Accreditation in banking from the American Institute of Banking (AIB), suggested.

4. Working information on close-to-home financial practices, rules, and guidelines. 5. Nitty-gritty comprehension of banking administrations and items. 6.

Performing various tasks and time-the-board abilities, with the capacity to focus on errands. 7. Magnificent correspondence, deals, and arrangement abilities. COURSE CODE :BCO123 COURSE NAME: ACCOUNTING II Task brief & rubrics Task Final: • Individual task • You must answer all the questions. • When solving problems, you must clearly explain all the steps you are doing, and why are you making those steps. • Show all your workings, a numeric answer is not enough. • You should submit a document in Word format. • You should send an excel file with all of the workings. Formalities: • Use one page per answer. • Cover, Table of Contents, References and Appendix are excluded of the total wordcount. • Font: Arial 12,5 pts. • Text alignment: Justified.

Submission: Week (13) – Via Moodle (Turnitin). Sunday May 9th. Weight: This task is a 40% of your total grade for this subject. It assesses the following learning outcomes: • understand the purpose and uses of a statement of cash flows; • apply acquired knowledge and skills to be able to analyze a company’s assets, liabilities, shareholder’s equity and the statement of cash flows. Assignment: Smith & Johns & Sacher Ltd. is a company dedicated to consulting services.

The company presented the following income statement and Balance sheet for year 2020: Smith Jones & Sacher Ltd. Income sratement fot the year ended December 31, 2020 Sales 1.708.000 Cost of the sales 1.020.000 Gross profit 688.000 Depreciation 120.000 Sales and marketing 85.000 Administration 150.000 Total fixed cost 355.000 Operating income 333.000 Earnings before taxes 333.000 Taxes 83.250 Net result 249.750 Balance Sheet Assets 2.583.000 Fixed assets 2.200.000 Accounts receivable 220.000 Cash 163.000 Liabilities 583.000 Notes payable 379.750 Accounts payable 120.000 Income tax payable 83.250 Stockholders equity 2.000.000 Common stock 2.000.000 During the year 2021, the company reported the following activities: Month sales Cost of the sales (salaries) Cost of the sales (Hotels, transports…) sales & MKT Admin salaries Depreciation over "old" assets 1 155..000 12.000 12.000 12.500 30...000 13.000 9.500 12.500 30...000 14.000 10.500 12.500 30...000 11.000 11.000 12.500 30...000 8.000 9.000 12.500 30...000 14.000 12.000 12.500 30...000 5.000 7.000 12.500 30...000 4.000 7.000 12.500 30...000 17.000 14.000 12.500 30...000 12.000 12.000 12.500 30...000 11.000 13.000 12.500 30...000 8.000 12.000 12.500 30.000 On March 31st, 2021 the company purchased 2 new vehicles for a total amount of 80.000$.

The company paid cash. The estimated useful life of said vehicles is 5 years, no salvage value. The company uses the straight line method for depreciation purposes. Also the half-year convention is applied. All the sales and purchases of the company are made on account at 30 days.

The note payable was contracted on December 31, 2020 and bears 5% interests to be paid as a lump sum at maturity, in June 15, 2022. Salaries are paid the 5th day of each month Taxes (25% rate) are paid at the end of June. On 1st of April 2021, the company declares a 0.000 dividend payable on 1st of August Questions: 1.- Prepare a complete depreciation schedule for the vehicles purchased in points) 2.- Prepare the income statement for year points) 3.- Prepare the Balance Sheet for points) 4.- Prepare Cash Flow Statement for points) 5.- Explain what are the most important factors in this case that explain the difference between Net income and Cash Flow. (15 points) Rubrics Descriptor 9-10 The student demonstrates an excellent understanding of the concepts.

8-8.9 The student demonstrates a good understanding of the concepts. 7-7.9 The student demonstrates a fair understanding of the concepts. 6-6.9 The student demonstrates some, but insufficient understanding of the concepts. 3-5.9 The student demonstrates insufficient understanding of the concepts. They may mention some relevant ideas or concepts, although it is clear that the relationship between them is not understood by the student.

1-2.9 The student demonstrates insufficient understanding of the concepts and does not mention any relevant ideas or concepts. 0 The student leaves the question blank or cheats. Sheet1 Smith Jones & Sacher Ltd. Income sratement fot the year ended December 31, Sales $ 1,708,000 Cost of the sales $ 1,020,000 Month Sales Cost of the sales (salaries) Cost of the sales (Hotels, transports…) Sales & MKT Admin Salaries Depreciation over "old" assets On March 31st, 2021 the company purchased 2 new vehicles for a total amount of 80.000$. The company paid cash.

The Gross profit $ 688, $ 155,000 $ 100,000 $ 12,000 $ 12,000 $ 12,500 $ 30,000 estimated useful life of said vehicles is 5 years, no salvage value. Depreciation $ 120, $ 162,000 $ 100,000 $ 13,000 $ 9,500 $ 12,500 $ 30,000 Sales and marketing $ 85, $ 197,000 $ 150,000 $ 14,000 $ 10,500 $ 12,500 $ 30,000 The company uses the straight line method for depreciation purposes. Also the half-year convention is applied. Administration $ 150, $ 208,000 $ 150,000 $ 11,000 $ 11,000 $ 12,500 $ 30,000 Total fixed cost $ 355, $ 210,000 $ 160,000 $ 8,000 $ 9,000 $ 12,500 $ 30,000 All the sales and purchases of the company are made on account at 30 days. Operating income $ 333, $ 220,000 $ 160,000 $ 14,000 $ 12,000 $ 12,500 $ 30,000 Earnings before taxes $ 333, $ 230,000 $ 160,000 $ 5,000 $ 7,000 $ 12,500 $ 30,000 The note payable was contracted on December 31, 2020 and bears 5% interests to be paid as a lump sum at maturity, in June 15, 2022.

Taxes $ 83, $ 176,000 $ 160,000 $ 4,000 $ 7,000 $ 12,500 $ 30,000 Net result $ 249, $ 235,000 $ 160,000 $ 17,000 $ 14,000 $ 12,500 $ 30,000 Salaries are paid the 5th day of each month 10 $ 242,000 $ 160,000 $ 12,000 $ 12,000 $ 12,500 $ 30,000 Taxes (25% rate) are paid at the end of June. 11 $ 243,000 $ 170,000 $ 11,000 $ 13,000 $ 12,500 $ 30,000 On 1st of April 2021, the company declares a 0.000 dividend payable on 1st of August Balance Sheet 12 $ 240,000 $ 170,000 $ 8,000 $ 12,000 $ 12,500 $ 30,000 Assets $ 2,583,000 TOTAL $ 2,518,000 $ 1,800,000 $ 129,000 $ 129,000 $ 150,000 $ 360,000 Fixed assets $ 2,200,000 Accounts receivable $ 220,000 Cash $ 163,000 Liabilities $ 583,000 OLD Balance Sheet Dec 31, 2021 Depreciation Schedule Notes payable $ 379,750 Assets $ 2,583,000.00 Year Depreciation expense Accumulated depreciation Net book value Accounts payable $ 120,000 Fixed assets $ 2,280,000. $ 8,000 $ 8,000 $ 72,000 Income tax payable $ 83,250 Accounts depreciation $ (24,000. $ 16,000 $ 24,000 $ 56,000 Accounts receivable $ 240,000. $ 16,000 $ 40,000 $ 40,000 Stockholders equity $ 2,000,000 Cash $ 3,366,000. $ 16,000 $ 56,000 $ 24,000 Common stock $ 2,000, $ 16,000 $ 72,000 $ 8,000 Liabilities $ 582,250. $ 8,000 $ 80,000 $ - 0 Notes payable $ 379,750.00 Accounts payable $ 20,000.00 Salaries payable $ 182,500.00 We calculate the depreciation by dividing ,000/5 Then, to calculate with half-year convention we divide it once more with 2 for the first year Stockholders equity $ 5,279,750.00 Common stock $ 2,000,000.00 Retained earnings $ 3,279,750.00 Balance Sheet Dec 31, 2021 Assets $ 2,020,263 OLD - Statement of cash flow Year ended December 31, 2021 Fixed assets $ 2,280,000 Smith Jones & Sacher Ltd.

Smith Jones & Sacher Ltd. Accumulated depreciation $ (488,000) Net cash flow from operating activities $ 3,545,250.00 Income statement fot the 1st and 2nd quarter Income statement fot the year ended December 31, 2021 Accounts receivable $ 240,000 Net income $ 3,399,750.00 Sales $ 1,152,000 Sales $ 2,518,000 Cash $ (11,738) Add depreciation expense $ 384,000.00 Cost of the sales $ 892,000 Cost of the sales $ 1,929,000 Less increase in accounts receivable $ (20,000.00) Gross profit $ 260,000 Gross profit $ 589,000 Liabilities $ 202,500 Less decrease in accounts payable $ (100,000.00) Depreciation $ 180,000 Depreciation $ 368,000 Notes payable $ - 0 Less decrease in income tax payable $ (301,000.00) The income tax is paid at the end of June, so that results in a cash flow Sales and marketing $ 64,000 Sales and marketing $ 129,000 Accounts payable $ 20,000 Add increase in salaries payable $ 182,500.00 Administration $ 75,000 Administration $ 150,000 Income tax payable $ - 0 Total fixed cost $ 319,000 Total fixed cost $ 647,000 Salaries payable $ 182,500 Net cash flow from investing activities $ (80,000.00) Operating income $ (59,000) Operating income $ (58,000) Purchase of new asset $ (80,000.00) Interest on notes $ - 0 Interest on notes $ 18,987.50 Stockholders equity $ 1,817,763 Earnings before taxes $ (59,000) Earnings before taxes $ (76,988) Common stock $ 2,000,000 Net cash flow from financing activities $ (120,000.00) Taxes $ (14,750) Taxes $ (14,750) Retained earnings $ (182,238) Dividends $ (120,000.00) Net Result $ (62,238) Net cash flow $ 3,345,250.00 Beginning cash balance $ 163,000.00 because taxes are calculated at the end of June, we make the income statement for June to calculate the taxes Ending cash balance $ 3,366,000.00 then, we just take the taxes and paste it into the income statement made on december Difference $ 3,203,000.00 Statement of cash flow Year ended December 31, 2021 Net cash flow from operating activities $ 285,013 Net income $ (62,238) Add depreciation expense $ 368,000 Less increase in accounts receivable $ (20,000) Less decrease in accounts payable $ (100,000) Less decrease in income tax payable $ (83,250) Add increase in salaries payable $ 182,500 YOU HAVE TABLES DOWN V V V Net cash flow from investing activities $ 80,000 Purchase of new asset $ 80,000 Net cash flow from financing activities $ (120,000) Dividends $ (120,000) Net cash flow $ 245,013 Beginning cash balance $ 163,000 Ending cash balance $ (11,738) Difference $ 174,738 Income Statement Dec 31, 2021 Sales $ 2,518,000 Cost of sales $ 1,929,000 Gross profit $ 4,447,000 Depreciation $ 384,000 Sales and marketing $ 129,000 Administration $ 150,000 Total fixed cost $ 663,000 Operating income $ 3,784,000 Earnings before taxes $ 3,784,000 Taxes $ 384,250 Net result $ 3,399,750 Income Statement June 31, 2021 Sales $ 1,152,000 Cost of sales $ 892,000 Gross profit $ 2,044,000 Depreciation $ 368,000 Sales and marketing $ 64,000 Administration $ 75,000 Total fixed cost $ 507,000 Operating income $ 1,537,000 Earnings before taxes $ 1,537,000 Taxes $ 384,250 Net result $ 1,152,750

Paper for above instructions

Introduction

This assignment involves analysis and financial reporting for Smith & Jones & Sacher Ltd, a consulting services company. It includes the preparation of a depreciation schedule, income statement, balance sheet, cash flow statement, and an explanation of the differences between net income and cash flows.

1. Depreciation Schedule for Vehicles

To calculate the depreciation schedule for the two vehicles purchased at a total cost of ,000, we utilize the straight-line method with the half-year convention applied. This means the depreciation will be calculated based on the useful life of the asset, which is 5 years with no salvage value.

Depreciation Calculation:

1. Annual Depreciation:
\[
\text{Annual Depreciation} = \frac{\text{Cost of Vehicles}}{\text{Useful Life}} = \frac{80,000}{5} = 16,000 \text{ USD per year}
\]
2. Half-Year Convention: For the first year, we will record half of the annual depreciation:
\[
\text{First Year Depreciation} = \frac{16,000}{2} = 8,000 \text{ USD}
\]

Depreciation Schedule (in USD):

| Year | Annual Depreciation | Accumulated Depreciation | Net Book Value |
|------|-------------------------|-------------------------|-----------------|
| 2021 | 8,000 | 8,000 | 72,000 |
| 2022 | 16,000 | 24,000 | 56,000 |
| 2023 | 16,000 | 40,000 | 40,000 |
| 2024 | 16,000 | 56,000 | 24,000 |
| 2025 | 16,000 | 72,000 | 8,000 |
| 2026 | 8,000 | 80,000 | 0 |
---

2. Income Statement for the Year Ended December 31, 2021

To prepare the income statement, we will aggregate revenues and expenses over the months reported up to December 31.

Key Income Statement Items:

- Sales =

Job Descriptions1bank Manager Citizen Bankjob Purposethe Bank Manag

8. Guarantee’s branch consistency with review and administrative systems. Preferred Requirements 1. Four-year college education or comparable experience. 2.

5. Incredible oral and composed relational abilities. 6. Exhibited insight in quality loaning dynamic abilities. 7.

9. Settling customer questions and grumblings. 10. Performing managerial obligations, like information passage, depending on the situation. Preferred Requirements: 1.

4. Working information on close-to-home financial practices, rules, and guidelines. 5. Nitty-gritty comprehension of banking administrations and items. 6.

The note payable was contracted on December 31, 2020 and bears 5% interests to be paid as a lump sum at maturity, in June 15, 2022. Salaries are paid the 5th day of each month Taxes (25% rate) are paid at the end of June. On 1st of April 2021, the company declares a $120.000 dividend payable on 1st of August Questions: 1.- Prepare a complete depreciation schedule for the vehicles purchased in points) 2.- Prepare the income statement for year points) 3.- Prepare the Balance Sheet for points) 4.- Prepare Cash Flow Statement for points) 5.- Explain what are the most important factors in this case that explain the difference between Net income and Cash Flow. (15 points) Rubrics Descriptor 9-10 The student demonstrates an excellent understanding of the concepts.

Taxes $ 83, $ 176,000 $ 160,000 $ 4,000 $ 7,000 $ 12,500 $ 30,000 Net result $ 249, $ 235,000 $ 160,000 $ 17,000 $ 14,000 $ 12,500 $ 30,000 Salaries are paid the 5th day of each month 10 $ 242,000 $ 160,000 $ 12,000 $ 12,000 $ 12,500 $ 30,000 Taxes (25% rate) are paid at the end of June. 11 $ 243,000 $ 170,000 $ 11,000 $ 13,000 $ 12,500 $ 30,000 On 1st of April 2021, the company declares a $120.000 dividend payable on 1st of August Balance Sheet 12 $ 240,000 $ 170,000 $ 8,000 $ 12,000 $ 12,500 $ 30,000 Assets $ 2,583,000 TOTAL $ 2,518,000 $ 1,800,000 $ 129,000 $ 129,000 $ 150,000 $ 360,000 Fixed assets $ 2,200,000 Accounts receivable $ 220,000 Cash $ 163,000 Liabilities $ 583,000 OLD Balance Sheet Dec 31, 2021 Depreciation Schedule Notes payable $ 379,750 Assets $ 2,583,000.00 Year Depreciation expense Accumulated depreciation Net book value Accounts payable $ 120,000 Fixed assets $ 2,280,000. $ 8,000 $ 8,000 $ 72,000 Income tax payable $ 83,250 Accounts depreciation $ (24,000. $ 16,000 $ 24,000 $ 56,000 Accounts receivable $ 240,000. $ 16,000 $ 40,000 $ 40,000 Stockholders equity $ 2,000,000 Cash $ 3,366,000. $ 16,000 $ 56,000 $ 24,000 Common stock $ 2,000, $ 16,000 $ 72,000 $ 8,000 Liabilities $ 582,250. $ 8,000 $ 80,000 $ - 0 Notes payable $ 379,750.00 Accounts payable $ 20,000.00 Salaries payable $ 182,500.00 We calculate the depreciation by dividing $80,000/5 Then, to calculate with half-year convention we divide it once more with 2 for the first year Stockholders equity $ 5,279,750.00 Common stock $ 2,000,000.00 Retained earnings $ 3,279,750.00 Balance Sheet Dec 31, 2021 Assets $ 2,020,263 OLD - Statement of cash flow Year ended December 31, 2021 Fixed assets $ 2,280,000 Smith Jones & Sacher Ltd.

,518,000
- Cost of Sales = ,929,000
- Gross Profit = Sales - Cost of Sales =

Job Descriptions1bank Manager Citizen Bankjob Purposethe Bank Manag

8. Guarantee’s branch consistency with review and administrative systems. Preferred Requirements 1. Four-year college education or comparable experience. 2.

5. Incredible oral and composed relational abilities. 6. Exhibited insight in quality loaning dynamic abilities. 7.

9. Settling customer questions and grumblings. 10. Performing managerial obligations, like information passage, depending on the situation. Preferred Requirements: 1.

4. Working information on close-to-home financial practices, rules, and guidelines. 5. Nitty-gritty comprehension of banking administrations and items. 6.

The note payable was contracted on December 31, 2020 and bears 5% interests to be paid as a lump sum at maturity, in June 15, 2022. Salaries are paid the 5th day of each month Taxes (25% rate) are paid at the end of June. On 1st of April 2021, the company declares a $120.000 dividend payable on 1st of August Questions: 1.- Prepare a complete depreciation schedule for the vehicles purchased in points) 2.- Prepare the income statement for year points) 3.- Prepare the Balance Sheet for points) 4.- Prepare Cash Flow Statement for points) 5.- Explain what are the most important factors in this case that explain the difference between Net income and Cash Flow. (15 points) Rubrics Descriptor 9-10 The student demonstrates an excellent understanding of the concepts.

Taxes $ 83, $ 176,000 $ 160,000 $ 4,000 $ 7,000 $ 12,500 $ 30,000 Net result $ 249, $ 235,000 $ 160,000 $ 17,000 $ 14,000 $ 12,500 $ 30,000 Salaries are paid the 5th day of each month 10 $ 242,000 $ 160,000 $ 12,000 $ 12,000 $ 12,500 $ 30,000 Taxes (25% rate) are paid at the end of June. 11 $ 243,000 $ 170,000 $ 11,000 $ 13,000 $ 12,500 $ 30,000 On 1st of April 2021, the company declares a $120.000 dividend payable on 1st of August Balance Sheet 12 $ 240,000 $ 170,000 $ 8,000 $ 12,000 $ 12,500 $ 30,000 Assets $ 2,583,000 TOTAL $ 2,518,000 $ 1,800,000 $ 129,000 $ 129,000 $ 150,000 $ 360,000 Fixed assets $ 2,200,000 Accounts receivable $ 220,000 Cash $ 163,000 Liabilities $ 583,000 OLD Balance Sheet Dec 31, 2021 Depreciation Schedule Notes payable $ 379,750 Assets $ 2,583,000.00 Year Depreciation expense Accumulated depreciation Net book value Accounts payable $ 120,000 Fixed assets $ 2,280,000. $ 8,000 $ 8,000 $ 72,000 Income tax payable $ 83,250 Accounts depreciation $ (24,000. $ 16,000 $ 24,000 $ 56,000 Accounts receivable $ 240,000. $ 16,000 $ 40,000 $ 40,000 Stockholders equity $ 2,000,000 Cash $ 3,366,000. $ 16,000 $ 56,000 $ 24,000 Common stock $ 2,000, $ 16,000 $ 72,000 $ 8,000 Liabilities $ 582,250. $ 8,000 $ 80,000 $ - 0 Notes payable $ 379,750.00 Accounts payable $ 20,000.00 Salaries payable $ 182,500.00 We calculate the depreciation by dividing $80,000/5 Then, to calculate with half-year convention we divide it once more with 2 for the first year Stockholders equity $ 5,279,750.00 Common stock $ 2,000,000.00 Retained earnings $ 3,279,750.00 Balance Sheet Dec 31, 2021 Assets $ 2,020,263 OLD - Statement of cash flow Year ended December 31, 2021 Fixed assets $ 2,280,000 Smith Jones & Sacher Ltd.

,518,000 - ,929,000 = 9,000

Total Expenses:

1. Depreciation: 4,000
2. Sales and Marketing: 9,000
3. Administration: 0,000
Total Fixed Cost:
\[
\text{Total Fixed Cost} = 384,000 + 129,000 + 150,000 = 663,000
\]

Operating Income:

\[
\text{Operating Income} = \text{Gross Profit} - \text{Total Fixed Cost} = 589,000 - 663,000 = -74,000
\]
However, this directly contradicts with the previous figure input as a correction for quarterly sales which should yield positive results.

Earnings Before Taxes:

\[
\text{Earnings Before Taxes} = -74,000
\]

Tax Expense (25% rate):

\[
\text{Taxes} = -74,000 \times 0.25 = 10,000 (Tax benefit due to loss)
\]

Net Result:

\[
\text{Net Result} = -74,000 + 10,000 = -64,000
\]

The Income Statement:

| Smith Jones & Sacher Ltd. |
|------------------------------|
| Income Statement |
| For the Year Ended December 31, 2021 |
| Sales |

Job Descriptions1bank Manager Citizen Bankjob Purposethe Bank Manag

8. Guarantee’s branch consistency with review and administrative systems. Preferred Requirements 1. Four-year college education or comparable experience. 2.

5. Incredible oral and composed relational abilities. 6. Exhibited insight in quality loaning dynamic abilities. 7.

9. Settling customer questions and grumblings. 10. Performing managerial obligations, like information passage, depending on the situation. Preferred Requirements: 1.

4. Working information on close-to-home financial practices, rules, and guidelines. 5. Nitty-gritty comprehension of banking administrations and items. 6.

The note payable was contracted on December 31, 2020 and bears 5% interests to be paid as a lump sum at maturity, in June 15, 2022. Salaries are paid the 5th day of each month Taxes (25% rate) are paid at the end of June. On 1st of April 2021, the company declares a $120.000 dividend payable on 1st of August Questions: 1.- Prepare a complete depreciation schedule for the vehicles purchased in points) 2.- Prepare the income statement for year points) 3.- Prepare the Balance Sheet for points) 4.- Prepare Cash Flow Statement for points) 5.- Explain what are the most important factors in this case that explain the difference between Net income and Cash Flow. (15 points) Rubrics Descriptor 9-10 The student demonstrates an excellent understanding of the concepts.

Taxes $ 83, $ 176,000 $ 160,000 $ 4,000 $ 7,000 $ 12,500 $ 30,000 Net result $ 249, $ 235,000 $ 160,000 $ 17,000 $ 14,000 $ 12,500 $ 30,000 Salaries are paid the 5th day of each month 10 $ 242,000 $ 160,000 $ 12,000 $ 12,000 $ 12,500 $ 30,000 Taxes (25% rate) are paid at the end of June. 11 $ 243,000 $ 170,000 $ 11,000 $ 13,000 $ 12,500 $ 30,000 On 1st of April 2021, the company declares a $120.000 dividend payable on 1st of August Balance Sheet 12 $ 240,000 $ 170,000 $ 8,000 $ 12,000 $ 12,500 $ 30,000 Assets $ 2,583,000 TOTAL $ 2,518,000 $ 1,800,000 $ 129,000 $ 129,000 $ 150,000 $ 360,000 Fixed assets $ 2,200,000 Accounts receivable $ 220,000 Cash $ 163,000 Liabilities $ 583,000 OLD Balance Sheet Dec 31, 2021 Depreciation Schedule Notes payable $ 379,750 Assets $ 2,583,000.00 Year Depreciation expense Accumulated depreciation Net book value Accounts payable $ 120,000 Fixed assets $ 2,280,000. $ 8,000 $ 8,000 $ 72,000 Income tax payable $ 83,250 Accounts depreciation $ (24,000. $ 16,000 $ 24,000 $ 56,000 Accounts receivable $ 240,000. $ 16,000 $ 40,000 $ 40,000 Stockholders equity $ 2,000,000 Cash $ 3,366,000. $ 16,000 $ 56,000 $ 24,000 Common stock $ 2,000, $ 16,000 $ 72,000 $ 8,000 Liabilities $ 582,250. $ 8,000 $ 80,000 $ - 0 Notes payable $ 379,750.00 Accounts payable $ 20,000.00 Salaries payable $ 182,500.00 We calculate the depreciation by dividing $80,000/5 Then, to calculate with half-year convention we divide it once more with 2 for the first year Stockholders equity $ 5,279,750.00 Common stock $ 2,000,000.00 Retained earnings $ 3,279,750.00 Balance Sheet Dec 31, 2021 Assets $ 2,020,263 OLD - Statement of cash flow Year ended December 31, 2021 Fixed assets $ 2,280,000 Smith Jones & Sacher Ltd.

,518,000 |
| Cost of Sales | ,929,000 |
| Gross Profit | 9,000 |
| Depreciation | 4,000 |
| Sales & Marketing | 9,000 |
| Administration | 0,000 |
| Operating Income | -,000 |
| Earnings Before Taxes | -,000 |
| Taxes | ,000 |
| Net Result | -,000 |
---

3. Balance Sheet as of December 31, 2021

In presenting the balance sheet, we must correctly represent both assets and liabilities accounted throughout the period.

Assets:

- Fixed Assets = 2,280,000 (after depreciation)
- Accounts Receivable = 240,000
- Cash = 3,366,000

Liabilities:

- Notes Payable = 379,750
- Accounts Payable = 120,000
- Income Tax Payable = 83,250

Total Stockholders’ Equity:

- Common Stock = 2,000,000
- Retained Earnings = Prior Year Retained Earnings + Net Result = 3,279,750 - 64,000 (Net Loss)

The Balance Sheet:

| Smith Jones & Sacher Ltd. |
|-------------------------------|
| Balance Sheet |
| December 31, 2021 |
| Assets | |
| Fixed Assets |

Job Descriptions1bank Manager Citizen Bankjob Purposethe Bank Manag

8. Guarantee’s branch consistency with review and administrative systems. Preferred Requirements 1. Four-year college education or comparable experience. 2.

5. Incredible oral and composed relational abilities. 6. Exhibited insight in quality loaning dynamic abilities. 7.

9. Settling customer questions and grumblings. 10. Performing managerial obligations, like information passage, depending on the situation. Preferred Requirements: 1.

4. Working information on close-to-home financial practices, rules, and guidelines. 5. Nitty-gritty comprehension of banking administrations and items. 6.

The note payable was contracted on December 31, 2020 and bears 5% interests to be paid as a lump sum at maturity, in June 15, 2022. Salaries are paid the 5th day of each month Taxes (25% rate) are paid at the end of June. On 1st of April 2021, the company declares a $120.000 dividend payable on 1st of August Questions: 1.- Prepare a complete depreciation schedule for the vehicles purchased in points) 2.- Prepare the income statement for year points) 3.- Prepare the Balance Sheet for points) 4.- Prepare Cash Flow Statement for points) 5.- Explain what are the most important factors in this case that explain the difference between Net income and Cash Flow. (15 points) Rubrics Descriptor 9-10 The student demonstrates an excellent understanding of the concepts.

Taxes $ 83, $ 176,000 $ 160,000 $ 4,000 $ 7,000 $ 12,500 $ 30,000 Net result $ 249, $ 235,000 $ 160,000 $ 17,000 $ 14,000 $ 12,500 $ 30,000 Salaries are paid the 5th day of each month 10 $ 242,000 $ 160,000 $ 12,000 $ 12,000 $ 12,500 $ 30,000 Taxes (25% rate) are paid at the end of June. 11 $ 243,000 $ 170,000 $ 11,000 $ 13,000 $ 12,500 $ 30,000 On 1st of April 2021, the company declares a $120.000 dividend payable on 1st of August Balance Sheet 12 $ 240,000 $ 170,000 $ 8,000 $ 12,000 $ 12,500 $ 30,000 Assets $ 2,583,000 TOTAL $ 2,518,000 $ 1,800,000 $ 129,000 $ 129,000 $ 150,000 $ 360,000 Fixed assets $ 2,200,000 Accounts receivable $ 220,000 Cash $ 163,000 Liabilities $ 583,000 OLD Balance Sheet Dec 31, 2021 Depreciation Schedule Notes payable $ 379,750 Assets $ 2,583,000.00 Year Depreciation expense Accumulated depreciation Net book value Accounts payable $ 120,000 Fixed assets $ 2,280,000. $ 8,000 $ 8,000 $ 72,000 Income tax payable $ 83,250 Accounts depreciation $ (24,000. $ 16,000 $ 24,000 $ 56,000 Accounts receivable $ 240,000. $ 16,000 $ 40,000 $ 40,000 Stockholders equity $ 2,000,000 Cash $ 3,366,000. $ 16,000 $ 56,000 $ 24,000 Common stock $ 2,000, $ 16,000 $ 72,000 $ 8,000 Liabilities $ 582,250. $ 8,000 $ 80,000 $ - 0 Notes payable $ 379,750.00 Accounts payable $ 20,000.00 Salaries payable $ 182,500.00 We calculate the depreciation by dividing $80,000/5 Then, to calculate with half-year convention we divide it once more with 2 for the first year Stockholders equity $ 5,279,750.00 Common stock $ 2,000,000.00 Retained earnings $ 3,279,750.00 Balance Sheet Dec 31, 2021 Assets $ 2,020,263 OLD - Statement of cash flow Year ended December 31, 2021 Fixed assets $ 2,280,000 Smith Jones & Sacher Ltd.

,280,000 |
| Accounts Receivable | 0,000 |
| Cash |

« Previous Next »

Hire Dr Jack for Homework & Academic Writing Help

Need personalised help with your homework, assignments, research papers, or dissertations? I would be happy to work with you one-to-one and support you from start to finish.

100% human-written work (no AI used) – if you ever detect AI content, I offer a full refund, no questions asked.
Zero plagiarism – I deliver original work, and if any plagiarism is found, you receive a 100% refund.
On-time delivery – your work is always completed within the agreed timeframe.
Available 24/7 – you can reach out whenever it is convenient for you.
Fixed Rate – $20 Per Page (Nothing Extra for Urgent, Title/Reference Page , Revision and many more.).

To discuss your requirements, please email me at drjack9650@gmail.com . I will respond as soon as possible.