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    CFI Accounting Fundementals Vadero Inc Solution

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    sovalax
    Accounting Fundamentals Vadero Inc Solution

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    CFI Accounting Fundementals Vadero Inc Solution

    Uploaded by

    sovalax
    15 views5 pages
    Accounting Fundamentals Vadero Inc Solution

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    Accounting Fundamentals Vadero Inc Solution

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    15 views5 pages

    CFI Accounting Fundementals Vadero Inc Solution

    Uploaded by

    sovalax
    Accounting Fundamentals Vadero Inc Solution

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 5

    Vadeo Inc Solution Strictly Confidential

    Table of Contents
    #VALUE!

    Notes
    This Excel model is for educational purposes only and should not be used for any other reason.
    All content is Copyright material of CFI Education Inc.
    https://corporatefinanceinstitute.com/

    © 2019 CFI Education Inc.


    All rights reserved.  The contents of this publication, including but not limited to all written material, content layout, images, formulas, and code, are protected under international copyright and trademark laws.  
    No part of this publication may be modified, manipulated, reproduced, distributed, or transmitted in any form by any means, including photocopying, recording, or other electronic or mechanical methods,
    © Corporate Finance Institute. All rights reserved. 
    Vadero Inc Solution
    Vadero Inc engaged in the following transactions:

    1. Issued common shares of 300.


    2. Bought equipment for 200.
    3. Bought inventory of 100. 80 of this was paid in cash. The remainder is outstanding at the balance sheet date.
    4. Sold 75% of the inventory for 120. 100 of this had been received in cash at the balance sheet date.
    5. Paid cash expense of 15.

    Construct the balance sheet of Vadero Inc.

    Recording Transactions:
    1. Cash Dr 300
    Common shares Cr 300

    2. Plant and equipment Dr 200


    Cash Cr 200

    3. Inventory Dr 100
    Cash Cr 80
    Accounts payable Cr 20

    4. Cash Dr 100
    Accounts receivable Dr 20
    Cost of sales Dr 75
    Inventory Cr 75
    Revenue Cr 120

    5. Expenses Dr 15
    Cash Cr 15

    Balance Sheet
    Assets Liabilities
    Current assets: Current liabilities:
    Cash 105 Accounts payable
    Accounts receivable 20
    Inventory 25 Non-current liabilities:
    Total current assets 150
    Shareholders' equity
    Non-current assets: Common shares
    Plant and equipment 200 Retained earnings
    Total non-current assets 200 Revenues
    Cost of sales
    Expenses

    Total assets 350 Total liabilities and shareholders' equity


    alance sheet date.

    20

    300

    120
    (75)
    (15)
    30
    olders' equity 350

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