Kempe Corporations capital structure consists of 50,000 shares of c.pdf
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Kempe Corporation\'s capital structure consists of 50,000 shares of common stock. The December 31, 2014 account balances are listed below (except as noted). All adjusting entries have been made except for the accrual of taxes (20% tax rate). Solution Notes to the accounts:Balance sheetas at december 31, 2014ParticularsAmount ($)Equity and LiabilitiesShareholder\'s fund:Share Capital 1,80,000Reserve & Surplus:Retained EarningsOpening 2,86,000Add:During the year 2,40,080Less:Dividend Declared25,0005,01,080Proposed dividend25,000Non Current Liabilities:Notes Payable 1,75,000Current LiabilitiesTrade Payables 79,000Other Current Liabilities:Interest Payable 1,500Office Supplies 50,000Total10,11,580AssetsNon Current AssetsFixed AssetsTangible:Land 2,68,000Machinery and equipments4,95,000Less: Accumulated Depreciation1,57,0003,38,000Intangible:Patent 75,000Current AssetsInventories 1,14,000Trade Receivable 98,000Less: Allownces for doubtfule debts 5,700 92,300Cash and cash Equivelents 65,000Other current assets:Unearned Service Revenue 5,800Suspense 53,480Total 10,11,580.
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Conversion worksheetGreen shaded cells are from Chapter 5 financia.docx
Conversion worksheetGreen shaded cells are from Chapter 5 financial StatementsEnter all amounts as positive numbers. The worksheet is formatted to add debits to assets & expenses and add credits to revenues, liabilities & equityRefr. Account TitlesDebitsCreditsGov'tal Fund Balances Adjustments & EliminationsGovern-mental Funds AdjustedInternal Service FundsBalances for Gov't-wide StmtsDebitsCreditsDebitsCreditsACapital asset64,200,000DEBITS:Accumulated Depreciation28,700,000Cash657,720657,72035,000692,720Net Position35,500,000Cash with Fiscal Agent928,000928,000928,000Investments259,000259,000259,000BCapital asset5,823,100Taxes Receivable, net262,000262,000262,000Capital Outlay Expenditures5,823,100Interest Receivable, net16,85016,85016,850Inventories-37,54037,540CDepreciation Expense4,900,000Due from State Govt.559,000559,000559,000Accumulated Depreciation4,900,000Due from Other Funds-11,200(3,200)14,400Capital Assets64,200,00070,023,10078,40070,101,500DProceeds of bonds4,000,000 both rows5,823,100Other Financing sources- premium on bonds200,000--Bonds payable4,000,000Expenditures (expenses) Current-Premium on bonds200,000 General Govt.1,646,9001,646,900(1,240)1,648,140 Public Safety3,026,9003,026,9003,026,900ENet position12,000,000 Highway and Streets2,481,9002,481,9002,481,900Bonds payable12,000,000 Sanitation591,400591,400591,400 Health724,100724,100724,100FBonds payable800,000 Welfare374,300374,300374,300Bonds Principal800,000 Culture and Recreation917,300917,300917,300Compensated Absences Exp42,00042,00042,000GInterest Expense328,000Other Expenditures (expenses)--Accrued Interest Payable328,000 - Debt Service Principal800,000(800,000)1,600,0001,600,000 - Interest (expenditure/expense)514,000328,000(180,000)1,032,0001,032,000HNet position180,000 both rows(10,000)Interest Expense180,000 - Capital Outlay5,823,100(5,823,100)11,646,20011,646,200 - Depreciation4,900,0004,900,0004,900,000IBonds Payable10,000Other Fin. Uses - Transfers Out1,871,7001,871,700(1,871,700)3,743,400Interest Expense10,000-Total Debits21,454,170105,598,650JDeferred Revenues10,500CREDITS:Revenues- Property Taxes10,500Accounts Payable326,800326,800(19,400)307,400Due to Other Funds40,20040,2003,20037,000KRevenues- Property Taxes21,000Accrued Interest Payable(328,000)(328,000)(328,000)Net Position21,000Bonds Payalbe(12,000,000) both rows800,000(4,000,000)(16,800,000)(16,800,000)LCompensated Absenese Expense42,000Premium on Bonds10,000(200,000)(210,000)(210,000)Compensated Absences Payable42,000Compensated Absence Payable(42,000)(42,000)(42,000)Advance from Water Utility Fund-(15,000)(15,000)MCash35,000Deferred Inflows: Property Taxes10,50010,500-(15,000)Due from Other Funds11,200Accumulated Depreciation(28,700,000)Inventories37,540 both rows(4,900,000)(33,600,000)(33,600,000)Capital assets78,400Revenues-Accounts Payable19,400Property Taxes6,657,50021,000(10,500)6,626,0006,626,000Advance from Water Utility Fund15,000Sales .
P4-7P4-7 Recording Adjusting and Closing Entries and Preparing a B.docx
P4-7P4-7 Recording Adjusting and Closing Entries and Preparing a Balance Sheet and Income Statement Including Earnings per Share LO4-1, 4-2, 4-4Tunstall, Inc., a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period, December 31, 2014:Account TitlesDebitCredit Cash$ 42,000 Accounts receivable11,600 Supplies900 Prepaid insurance800 Service trucks19,000 Accumulated depreciation$ 9,200 Other assets8,300 Accounts payable3,000 Wages payable Income taxes payable Note payable (3 years; 10% interest due each December 31)17,000 Common stock (5,000 shares outstanding)400 Additional paid-in capital19,000 Retained earnings6,000 Service revenue61,360 Remaining expenses (not detailed; excludes income tax)33,360 Income tax expense Totals$ 115,960$ 115,960Data not yet recorded at December 31, 2014, included:a.The supplies count on December 31, 2014, reflected $300 remaining supplies on hand to be used in 2015.b.Insurance expired during 2014, $800.c.Depreciation expense for 2014, $3,700.d.Wages earned by employees not yet paid on December 31, 2014, $640.e.Income tax expense, $5,540.Required:1Record the 2014 adjusting entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)TransactionGeneral JournalDebitCredita.b.c.d.e.Required:2-a.Prepare an income statement that includes the effects of the preceding five transactions. (Round "Earnings per share" to 2 decimal places.)TUNSTALL, INC.Income StatementFor the Year Ended December 31, 2014Operating revenue:Operating expenses:Total expenses-Earnings per shareRequired:2-b.Prepare a classified balance sheet that includes the effects of the preceding five transactions. (Amounts to be deducted should be indicated by a minus sign.)TUNSTALL, INC.Balance SheetAt December 31, 2014AssetsLiabilities and Stockholders’ EquityCurrent assets:Current liabilities:Total current assets-Total current liabilities-Total liabilities-Stockholders' equity:Total stockholders' equity-Total assets$ -Total liabilities and stockholders' equity$ -Required:3Record the 2014 closing entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)TransactionGeneral JournalDebitCredit1
P4-7 Check FiguresP4-7 Recording Adjusting and Closing Entries and Preparing a Balance Sheet and Income Statement Including Earnings per Share LO4-1, 4-2, 4-4Tunstall, Inc., a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period, December 31, 2014:Account TitlesDebitCredit Cash$ 42,000 Accounts receivable11,600 Supplies900 Prepaid insurance800 Service trucks19,000 Accumulated depreciation$ 9,200 Ot.
Ch02 P14 Build a Model Spring 1, 201372212Chapter 2. Ch 02 P14.docx
Ch02 P14 Build a Model Spring 1, 20137/22/12Chapter 2. Ch 02 P14 Build a ModelExcept for charts and answers that must be written, only Excel formulas that use cell references or functions will be accepted for credit. Numeric answers in cells will not be accepted.a. Cumberland Industries' most recent sales were $455,000,000; operating costs (excluding depreciation) were equal to 85% of sales; net fixed assets were $67,000,000; depreciation amounted to 10% of net fixed assets; interest expenses were $8,550,000; the state-plus-federal corporate tax rate was 40% and Cumberland paid 25% of its net income out in dividends. Given this information, construct Cumberland's income statement. Also calculate total dividends and the addition to retained earnings.The input information required for the problem is outlined in the "Key Input Data" section below. Using this data and the balance sheet above, we constructed the income statement shown below.Key Input Data for Cumberland Industries2010 (Thousands of dollars)Sales Revenue$455,000Expenses (excluding depreciation) as a percent of sales85.0%Net fixed assest$67,000Depr. as a % of net fixed assets10.0%Tax rate40.0%Interest expense$8,550Dividend Payout Ratio25%Cumberland Industries: Income Statement (Thousands of dollars)2010SalesOperating costs excluding depreciation EBITDADepreciation (Cumberland has no amortization charges) EBITInterest expense EBTTaxes (40%) Net incomeCommon dividendsAddition to retained earningsb. Cumberland Industries' partial balance sheets are shown below. Cumberland issued $10,000,000 of new common stock in the most recent year. Using this information and the results from part a, fill in the missing values for common stock, retained earnings, total common equity, and total liabilities and equity. Dollar value of common stock issued (in thousands of dollars)$10,000Cumberland Industries December 31 Balance Sheets(in thousands of dollars)20102009AssetsCash and cash equivalents$91,450$74,625Short-term investments11,40015,100Accounts Receivable108,47085,527Inventories38,45034,982 Total current assets$249,770$210,234 Net fixed assets67,00042,436Total assets$316,770$252,670Liabilities and equityAccounts payable$30,761$23,109Accruals30,40522,656Notes payable12,71714,217 Total current liabilities$73,883$59,982Long-term debt80,26363,914 Total liabilities$154,146$123,896Common stock$90,000Retained earnings38,774 Total common equity$128,774Total liabilities and equity$252,670Check for balancing (this should be zero):c. Construct the statement of cash flows for the most recent year. Statement of Cash Flows(in thousands of dollars)Operating ActivitiesNet IncomeAdjustments: Noncash adjustment: Depreciation Due to changes in working capital: Due to change in accounts receivable
Kenneth D. Jackson: An increase in accounts receivable from the pevious year to the current year reduces the net cash provided by operating activities
Due to change in inventories
Kenneth D. ...
2015 Balance SheetPeriod Ending123115AssetsCurrent AssetsCash An.docx
2015 Balance SheetPeriod Ending12/31/15AssetsCurrent AssetsCash And Cash Equivalents2,459,000Short Term Investments88,000Net Receivables13,108,000RatioInventory14,001,000Other Current Assets722,000201520142013Total Current Assets 30,378,000Current Ratio1.31Long Term Investments- 0Debt / Equity Ratio1.52Property Plant and Equipment9,855,000Free Cash FlowGoodwill38,106,000Earnings per ShareIntangible Assets13,878,000Price / earnings ratioAccumulated Amortization- 0Return on Equity14.1%Other Assets1,440,000Net profit margin Deferred Long Term Asset Charges- Total Assets 93,657,000Shares Outstanding1,101,000,0001,140,000,0001,180,000,000LiabilitiesClosing Price Dec. 31 97.7796.3171.57Current LiabilitiesAccounts Payable14,319,000Short/Current Long Term Debt8,850,000Other Current Liabilities- 0Total Current Liabilities 23,169,000Long Term Debt26,267,000Other Liabilities1,542,000Deferred Long Term Liability Charges5,437,000Minority Interest7,000Negative Goodwill- Total Liabilities 56,422,000Stockholders' EquityMisc Stocks Options Warrants39,000Redeemable Preferred Stock- 0Preferred Stock- 0Common Stock17,000Retained Earnings35,506,000Treasury Stock(28,886,000)Capital Surplus30,948,000Other Stockholder Equity(389,000)Total Stockholder Equity 37,235,000Net Tangible Assets (14,788,000)http://finance.yahoo.com/q/bs?s=CVS&annual
Works Cited
CVS Balance Sheet | CVS Health Corporation Common S Stock - Yahoo! Finance. (n.d.). Retrieved February 28, 2016, from http://finance.yahoo.com/q/bs?s=CVS
http://finance.yahoo.com/q/bs?s=CVS&annual
2014 Balance SheetPeriod Ending12/31/14AssetsCurrent AssetsCash And Cash Equivalents2,481,000Short Term Investments34,000Net Receivables10,672,000RatioInventory11,930,000Other Current Assets866,000201520142013Total Current Assets 25,983,000Current Ratio1.37Long Term Investments- 0Debt / Equity Ratio0.95Property Plant and Equipment8,843,000Free Cash FlowGoodwill28,142,000Earnings per ShareIntangible Assets9,774,000Price / earnings ratioAccumulated Amortization- 0Return on Equity12.2%Other Assets1,445,000Net profit margin Deferred Long Term Asset Charges- Total Assets 74,187,000Shares Outstanding1,101,000,0001,140,000,0001,180,000,000LiabilitiesClosing Price Dec. 31 97.7796.3171.57Current LiabilitiesAccounts Payable12,363,000Short/Current Long Term Debt6,664,000Other Current Liabilities- 0Total Current Liabilities 19,027,000Long Term Debt11,630,000Other Liabilities1,531,000Deferred Long Term Liability Charges4,036,000Minority Interest5,000Negative Goodwill- Total Liabilities 36,229,000Stockholders' EquityMisc Stocks Options Warrants- 0Redeemable Preferred Stock- 0Preferred Stock- 0Common Stock17,000Retained Earnings31,849,000Treasury Stock(24,078,000)Capital Surplus30,418,000Other Stockholder Equity(248,000)Total Stockholder Equity 37,958,000Net Tangible Assets 42,000http://finance.yahoo.com/q/bs?s=CVS&annual
Works Cited
CVS Balance Sheet | CVS Health Corporation Common S Stock - Yahoo! Finance. (n.d.). Retrieved February ...
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Conversion worksheetGreen shaded cells are from Chapter 5 financia.docx
Conversion worksheetGreen shaded cells are from Chapter 5 financial StatementsEnter all amounts as positive numbers. The worksheet is formatted to add debits to assets & expenses and add credits to revenues, liabilities & equityRefr. Account TitlesDebitsCreditsGov'tal Fund Balances Adjustments & EliminationsGovern-mental Funds AdjustedInternal Service FundsBalances for Gov't-wide StmtsDebitsCreditsDebitsCreditsACapital asset64,200,000DEBITS:Accumulated Depreciation28,700,000Cash657,720657,72035,000692,720Net Position35,500,000Cash with Fiscal Agent928,000928,000928,000Investments259,000259,000259,000BCapital asset5,823,100Taxes Receivable, net262,000262,000262,000Capital Outlay Expenditures5,823,100Interest Receivable, net16,85016,85016,850Inventories-37,54037,540CDepreciation Expense4,900,000Due from State Govt.559,000559,000559,000Accumulated Depreciation4,900,000Due from Other Funds-11,200(3,200)14,400Capital Assets64,200,00070,023,10078,40070,101,500DProceeds of bonds4,000,000 both rows5,823,100Other Financing sources- premium on bonds200,000--Bonds payable4,000,000Expenditures (expenses) Current-Premium on bonds200,000 General Govt.1,646,9001,646,900(1,240)1,648,140 Public Safety3,026,9003,026,9003,026,900ENet position12,000,000 Highway and Streets2,481,9002,481,9002,481,900Bonds payable12,000,000 Sanitation591,400591,400591,400 Health724,100724,100724,100FBonds payable800,000 Welfare374,300374,300374,300Bonds Principal800,000 Culture and Recreation917,300917,300917,300Compensated Absences Exp42,00042,00042,000GInterest Expense328,000Other Expenditures (expenses)--Accrued Interest Payable328,000 - Debt Service Principal800,000(800,000)1,600,0001,600,000 - Interest (expenditure/expense)514,000328,000(180,000)1,032,0001,032,000HNet position180,000 both rows(10,000)Interest Expense180,000 - Capital Outlay5,823,100(5,823,100)11,646,20011,646,200 - Depreciation4,900,0004,900,0004,900,000IBonds Payable10,000Other Fin. Uses - Transfers Out1,871,7001,871,700(1,871,700)3,743,400Interest Expense10,000-Total Debits21,454,170105,598,650JDeferred Revenues10,500CREDITS:Revenues- Property Taxes10,500Accounts Payable326,800326,800(19,400)307,400Due to Other Funds40,20040,2003,20037,000KRevenues- Property Taxes21,000Accrued Interest Payable(328,000)(328,000)(328,000)Net Position21,000Bonds Payalbe(12,000,000) both rows800,000(4,000,000)(16,800,000)(16,800,000)LCompensated Absenese Expense42,000Premium on Bonds10,000(200,000)(210,000)(210,000)Compensated Absences Payable42,000Compensated Absence Payable(42,000)(42,000)(42,000)Advance from Water Utility Fund-(15,000)(15,000)MCash35,000Deferred Inflows: Property Taxes10,50010,500-(15,000)Due from Other Funds11,200Accumulated Depreciation(28,700,000)Inventories37,540 both rows(4,900,000)(33,600,000)(33,600,000)Capital assets78,400Revenues-Accounts Payable19,400Property Taxes6,657,50021,000(10,500)6,626,0006,626,000Advance from Water Utility Fund15,000Sales .
P4-7P4-7 Recording Adjusting and Closing Entries and Preparing a B.docx
P4-7P4-7 Recording Adjusting and Closing Entries and Preparing a Balance Sheet and Income Statement Including Earnings per Share LO4-1, 4-2, 4-4Tunstall, Inc., a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period, December 31, 2014:Account TitlesDebitCredit Cash$ 42,000 Accounts receivable11,600 Supplies900 Prepaid insurance800 Service trucks19,000 Accumulated depreciation$ 9,200 Other assets8,300 Accounts payable3,000 Wages payable Income taxes payable Note payable (3 years; 10% interest due each December 31)17,000 Common stock (5,000 shares outstanding)400 Additional paid-in capital19,000 Retained earnings6,000 Service revenue61,360 Remaining expenses (not detailed; excludes income tax)33,360 Income tax expense Totals$ 115,960$ 115,960Data not yet recorded at December 31, 2014, included:a.The supplies count on December 31, 2014, reflected $300 remaining supplies on hand to be used in 2015.b.Insurance expired during 2014, $800.c.Depreciation expense for 2014, $3,700.d.Wages earned by employees not yet paid on December 31, 2014, $640.e.Income tax expense, $5,540.Required:1Record the 2014 adjusting entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)TransactionGeneral JournalDebitCredita.b.c.d.e.Required:2-a.Prepare an income statement that includes the effects of the preceding five transactions. (Round "Earnings per share" to 2 decimal places.)TUNSTALL, INC.Income StatementFor the Year Ended December 31, 2014Operating revenue:Operating expenses:Total expenses-Earnings per shareRequired:2-b.Prepare a classified balance sheet that includes the effects of the preceding five transactions. (Amounts to be deducted should be indicated by a minus sign.)TUNSTALL, INC.Balance SheetAt December 31, 2014AssetsLiabilities and Stockholders’ EquityCurrent assets:Current liabilities:Total current assets-Total current liabilities-Total liabilities-Stockholders' equity:Total stockholders' equity-Total assets$ -Total liabilities and stockholders' equity$ -Required:3Record the 2014 closing entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)TransactionGeneral JournalDebitCredit1
P4-7 Check FiguresP4-7 Recording Adjusting and Closing Entries and Preparing a Balance Sheet and Income Statement Including Earnings per Share LO4-1, 4-2, 4-4Tunstall, Inc., a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period, December 31, 2014:Account TitlesDebitCredit Cash$ 42,000 Accounts receivable11,600 Supplies900 Prepaid insurance800 Service trucks19,000 Accumulated depreciation$ 9,200 Ot.
Ch02 P14 Build a Model Spring 1, 201372212Chapter 2. Ch 02 P14.docx
Ch02 P14 Build a Model Spring 1, 20137/22/12Chapter 2. Ch 02 P14 Build a ModelExcept for charts and answers that must be written, only Excel formulas that use cell references or functions will be accepted for credit. Numeric answers in cells will not be accepted.a. Cumberland Industries' most recent sales were $455,000,000; operating costs (excluding depreciation) were equal to 85% of sales; net fixed assets were $67,000,000; depreciation amounted to 10% of net fixed assets; interest expenses were $8,550,000; the state-plus-federal corporate tax rate was 40% and Cumberland paid 25% of its net income out in dividends. Given this information, construct Cumberland's income statement. Also calculate total dividends and the addition to retained earnings.The input information required for the problem is outlined in the "Key Input Data" section below. Using this data and the balance sheet above, we constructed the income statement shown below.Key Input Data for Cumberland Industries2010 (Thousands of dollars)Sales Revenue$455,000Expenses (excluding depreciation) as a percent of sales85.0%Net fixed assest$67,000Depr. as a % of net fixed assets10.0%Tax rate40.0%Interest expense$8,550Dividend Payout Ratio25%Cumberland Industries: Income Statement (Thousands of dollars)2010SalesOperating costs excluding depreciation EBITDADepreciation (Cumberland has no amortization charges) EBITInterest expense EBTTaxes (40%) Net incomeCommon dividendsAddition to retained earningsb. Cumberland Industries' partial balance sheets are shown below. Cumberland issued $10,000,000 of new common stock in the most recent year. Using this information and the results from part a, fill in the missing values for common stock, retained earnings, total common equity, and total liabilities and equity. Dollar value of common stock issued (in thousands of dollars)$10,000Cumberland Industries December 31 Balance Sheets(in thousands of dollars)20102009AssetsCash and cash equivalents$91,450$74,625Short-term investments11,40015,100Accounts Receivable108,47085,527Inventories38,45034,982 Total current assets$249,770$210,234 Net fixed assets67,00042,436Total assets$316,770$252,670Liabilities and equityAccounts payable$30,761$23,109Accruals30,40522,656Notes payable12,71714,217 Total current liabilities$73,883$59,982Long-term debt80,26363,914 Total liabilities$154,146$123,896Common stock$90,000Retained earnings38,774 Total common equity$128,774Total liabilities and equity$252,670Check for balancing (this should be zero):c. Construct the statement of cash flows for the most recent year. Statement of Cash Flows(in thousands of dollars)Operating ActivitiesNet IncomeAdjustments: Noncash adjustment: Depreciation Due to changes in working capital: Due to change in accounts receivable
Kenneth D. Jackson: An increase in accounts receivable from the pevious year to the current year reduces the net cash provided by operating activities
Due to change in inventories
Kenneth D. ...
2015 Balance SheetPeriod Ending123115AssetsCurrent AssetsCash An.docx
2015 Balance SheetPeriod Ending12/31/15AssetsCurrent AssetsCash And Cash Equivalents2,459,000Short Term Investments88,000Net Receivables13,108,000RatioInventory14,001,000Other Current Assets722,000201520142013Total Current Assets 30,378,000Current Ratio1.31Long Term Investments- 0Debt / Equity Ratio1.52Property Plant and Equipment9,855,000Free Cash FlowGoodwill38,106,000Earnings per ShareIntangible Assets13,878,000Price / earnings ratioAccumulated Amortization- 0Return on Equity14.1%Other Assets1,440,000Net profit margin Deferred Long Term Asset Charges- Total Assets 93,657,000Shares Outstanding1,101,000,0001,140,000,0001,180,000,000LiabilitiesClosing Price Dec. 31 97.7796.3171.57Current LiabilitiesAccounts Payable14,319,000Short/Current Long Term Debt8,850,000Other Current Liabilities- 0Total Current Liabilities 23,169,000Long Term Debt26,267,000Other Liabilities1,542,000Deferred Long Term Liability Charges5,437,000Minority Interest7,000Negative Goodwill- Total Liabilities 56,422,000Stockholders' EquityMisc Stocks Options Warrants39,000Redeemable Preferred Stock- 0Preferred Stock- 0Common Stock17,000Retained Earnings35,506,000Treasury Stock(28,886,000)Capital Surplus30,948,000Other Stockholder Equity(389,000)Total Stockholder Equity 37,235,000Net Tangible Assets (14,788,000)http://finance.yahoo.com/q/bs?s=CVS&annual
Works Cited
CVS Balance Sheet | CVS Health Corporation Common S Stock - Yahoo! Finance. (n.d.). Retrieved February 28, 2016, from http://finance.yahoo.com/q/bs?s=CVS
http://finance.yahoo.com/q/bs?s=CVS&annual
2014 Balance SheetPeriod Ending12/31/14AssetsCurrent AssetsCash And Cash Equivalents2,481,000Short Term Investments34,000Net Receivables10,672,000RatioInventory11,930,000Other Current Assets866,000201520142013Total Current Assets 25,983,000Current Ratio1.37Long Term Investments- 0Debt / Equity Ratio0.95Property Plant and Equipment8,843,000Free Cash FlowGoodwill28,142,000Earnings per ShareIntangible Assets9,774,000Price / earnings ratioAccumulated Amortization- 0Return on Equity12.2%Other Assets1,445,000Net profit margin Deferred Long Term Asset Charges- Total Assets 74,187,000Shares Outstanding1,101,000,0001,140,000,0001,180,000,000LiabilitiesClosing Price Dec. 31 97.7796.3171.57Current LiabilitiesAccounts Payable12,363,000Short/Current Long Term Debt6,664,000Other Current Liabilities- 0Total Current Liabilities 19,027,000Long Term Debt11,630,000Other Liabilities1,531,000Deferred Long Term Liability Charges4,036,000Minority Interest5,000Negative Goodwill- Total Liabilities 36,229,000Stockholders' EquityMisc Stocks Options Warrants- 0Redeemable Preferred Stock- 0Preferred Stock- 0Common Stock17,000Retained Earnings31,849,000Treasury Stock(24,078,000)Capital Surplus30,418,000Other Stockholder Equity(248,000)Total Stockholder Equity 37,958,000Net Tangible Assets 42,000http://finance.yahoo.com/q/bs?s=CVS&annual
Works Cited
CVS Balance Sheet | CVS Health Corporation Common S Stock - Yahoo! Finance. (n.d.). Retrieved February ...
Exercise 12-1Putnam Corporation had these transactions during 20.docx
Exercise 12-1
Putnam Corporation had these transactions during 2014.
Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities, financing activities, or noncash investing and financing activities.
(a)
Purchased a machine for $30,000, giving a long-term note in exchange.
(b)
Issued $50,000 par value common stock for cash.
(c)
Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
(d)
Declared and paid a cash dividend of $13,000.
(e)
Sold a long-term investment with a cost of $15,000 for $15,000 cash.
(f)
Collected $16,000 of accounts receivable.
(g)
Paid $18,000 on accounts payable.
IFRS 13-1
Ling Company reports the following information for the year ended December 31, 2014: sales revenue $1,000,000, cost of goods sold $700,000, operating expenses $200,000, and an unrealized gain on non-trading securities of $75,000. Prepare a statement of comprehensive income using the one-statement approach.
LING COMPANY
Statement of Comprehensive Income
For the Year Ended December 31, 2014
$
$
Problem 12-9A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 127,664
$ 76,472
Accounts receivable
138,724
60,040
Inventory
177,750
162,503
Prepaid expenses
44,872
41,080
Long-term investments
218,040
172,220
Plant assets
450,300
383,150
Accumulated depreciation
(79,000
)
(82,160
)
Total
$1,078,350
$813,305
Liabilities and Stockholders’ Equity
Accounts payable
$ 161,160
$ 106,334
Accrued expenses payable
26,070
33,180
Bonds payable
173,800
230,680
Common stock
347,600
276,500
Retained earnings
369,720
166,611
Total
$1,078,350
$813,305
ODGERS INC.Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$613,767
Less:
Cost of goods sold
$214,027
Operating expenses, excluding depreciation
19,608
Depreciation expense
73,470
Income tax expense
43,102
Interest expense
7,473
Loss on disposal of plant assets
11,850
369,530
Net income
$ 244,237
Additional information:
1.
New plant assets costing $158,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $90,850 and accumulated depreciation of $76,630 were sold for $2,370 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $41,128 was declared and paid during the year.
Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
ODGERS INC.Statement of Cash Flows
For the Year Ended December 31, 2014
$
Adjustments to reconcile net income to
$
...
Chapter 2Problems Set BP2-1B Suppose the following items are .docx
Chapter 2
Problems: Set B
P2-1B Suppose the following items are taken from the 2014 balance sheet of Starbucks Corporation. (All dollars are in millions.)
Goodwill
$ 477
Common stock
40
Equipment
3,036
Accounts payable
391
Stock investments (long-term)
280
Accounts receivable
288
Prepaid rent
278
Debt investments (current)
157
Retained earnings
2,244
Cash
281
Notes payable (noncurrent)
550
Notes payable (current)
1,468
Unearned sales revenue (current)
297
Bonds payable
354
Inventory
692
Accumulated depreciation—equipment
145
Instructions
Prepare a classified balance sheet for Starbucks Corporation as of September 30, 2014.
P2-2B These items are taken from the financial statements of Mueller, Inc.
Prepaid insurance
$ 2,400
Equipment
30,000
Salaries and wages expense
34,000
Utilities expense
2,100
Accumulated depreciation—equipment
7,600
Accounts payable
7,200
Cash
6,100
Accounts receivable
2,900
Salaries and wages payable
3,000
Common stock
6,000
Depreciation expense
4,300
Retained earnings (beginning)
14,000
Dividends
2,600
Service revenue
51,000
Maintenance and repairs expense
2,600
Insurance expense
1,800
Instructions
Prepare an income statement, a retained earnings statement, and a classified balance sheet as of December 31, 2014.
P2-3B You are provided with the following information for Vern Corporation, effective as of its April 30, 2014, year-end.
Accounts payable
$ 3,100
Accounts receivable
10,150
Accumulated depreciation—equipment
6,600
Depreciation expense
3,200
Cash
20,955
Common stock
20,000
Dividends
2,800
Equipment
24,250
Sales revenue
20,450
Income tax expense
700
Income taxes payable
300
Interest expense
350
Interest payable
175
Notes payable (due in 2018)
4,700
Prepaid rent
380
Rent expense
660
Retained earnings, beginning
13,960
Salaries and wages expense
5,840
Instructions
(a)
Prepare an income statement and a retained earnings statement for Vern Corporation for the year ended April 30, 2014.
(b)
Prepare a classified balance sheet for Vern as of April 30, 2014.
P2-4B Comparative statement data for Omaz Company and Wise Company, two competitors, are presented below. All balance sheet data are as of December 31, 2014.
Omaz Company
Wise Company
2014
2014
Net sales
$450,000
$900,000
Cost of goods sold
225,000
450,000
Operating expenses
130,000
150,000
Interest expense
6,000
10,000
Income tax expense
15,000
75,000
Current assets
180,000
700,000
Plant assets (net)
600,000
800,000
Current liabilities
75,000
230,000
Long-term liabilities
190,000
200,000
Net cash provided by operating activities
46,000
180,000
Capital expenditures
20,000
50,000
Dividends paid
-0-
5,000
Average number of shares outstanding
200,000
500,000
Instructions
(a)
Compute the net income and earnings per share for each company for 2014.
(b)
Comment on the relative liquidity of the companies by computing working capital and the current ratio for each company for 2014.
(c)
Comment on the relative solvency of the.
The statements of financial position of Amapa Ltd. are presented bel.pdf
The statements of financial position of Amapa Ltd. are presented below:
Amapa Ltd.
Statements of Financial Position as at December 31
2021 2020
$ $ $
Non-current Assets
Property, plant & equipment, at cost 888,800 600,000
Less: Accumulated depreciation 138,800 36,000
750,000 564,000
Current Assets
Inventory 127,200 86,400
Trade receivables 102,000 56,400
Bank 2,400 26,400
231,600 169,200
TOTAL ASSETS 981,600 733,200
Equity
Ordinary share capital ($1 each) 788,400 582,000
Retained earnings 117,600 48,000
906,000 630,000
Non-current Liabilities
8% Loan notes - 24,000
Current Liabilities
Trade payables 45,600 56,400
Taxation 30,000 22,800
75,600 79,200
Total Liabilities and Equity 981,600 733,200
Additional information for year ended 2021 December 31:
(i) Net profit before tax amounted to $136,800.
(ii) Interest paid was $2,400.
(iii) Taxation paid was $22,800.
(iv) Dividends of $37,200 were paid.
(v) Depreciation for the year was $112,800.
(vi) Non-current assets which had cost $40,000 and had accumulated depreciation of $10,000
were sold at a profit of $7,200.
Required:
Prepare a statement of cash flows for Amapa Ltd. for the year ended 31 December 2021 in
accordance with IAS 7 Statement of Cash Flows, using the indirect method..
Acct 550 final exam
acct 550,devry acct 550,devry acct 550 entire course,devry acct 550entire class,devry acct 550 all dq,devry acct 550 final exam,devry acct 550 midterm 100,devry acct 550 entire course with midterm and final exam,devry acct 550 week 1,devry acct 550 week 2,devry acct 550 week 3,devry acct 550 week 4,devry acct 550 week 5,devry acct 550 week 6,devry acct 550 week 7,devry acct 550 tutorials,devry acct 550assignments,devry acct 550 help
Exercise 5-5Uhura Company has decided to expand its operations. Th.pdf
Exercise 5-5
Uhura Company has decided to expand its operations. The bookkeeper recently completed the
balance sheet presented below in order to obtain additional funds for expansion.
UHURA COMPANY
BALANCE SHEET
FOR THE YEAR ENDED 2014
Current assets
Cash $230,000
Accounts receivable (net) 340,000
Inventory (lower-of-average-cost-or-market) 401,000
Equity investments (trading)-at cost (fair value $120,000) 140,000
Property, plant, and equipment
Buildings (net) 570,000
Equipment (net) 160,000
Land held for future use 175,000
Intangible assets
Goodwill 80,000
Cash surrender value of life insurance 90,000
Prepaid expenses 12,000
Current liabilities
Accounts payable 135,000
Notes payable (due next year) 125,000
Pension obligation 82,000
Rent payable 49,000
Premium on bonds payable 53,000
Long-term liabilities
Bonds payable 500,000
Stockholders’ equity
Common stock, $1.00 par, authorized 400,000 shares, issued 290,000 290,000
Additional paid-in capital 160,000
Retained earnings ?
Prepare a revised balance sheet given the available information. Assume that the accumulated
depreciation balance for the buildings is $160,000 and for the equipment, $105,000. The
allowance for doubtful accounts has a balance of $17,000. The pension obligation is considered a
long-term liability. (List Current Assets in order of liquidity. List Property, Plant and Equipment
in order of Buildings and Equipment. Enter account name only and do not provide the
descriptive information provided in the question.)
Uhura Company
Balance Sheet
December 31, 2014
Assets
$
$
:
$
$
:
:
$
Liabilities and Stockholders\' Equity
$
$
$
:
$
Solution
The revised balance sheet is as below
Heads
Amount
Amount
Current assets:
Cash
$230,000
Accounts receivable (Gross) (340,000 + 17,000 =)
$357,000
Less: Allowance for doubtful accounts
$17,000
$340,000
Inventory
$401,000
Equity investments
$140,000
Total current assets (a)
1,111,000
Property, plant, and equipment:
Building (Gross) (570,000 + 160,000 =)
$730,000
Less: Accumulated depreciation
$160,000
$570,000
Equipment (Gross) (160,000 + 105,000 =)
$265,000
Less: Accumulated depreciation
$105,000
$160,000
Land
$175,000
Goodwill
$80,000
Cash surrender value
$90,000
Prepaid expenses
$12,000
Total property, plant, and equipment (b)
$1,087,000
Total assets (a + b)
$2,198,000
Current liabilities:
Accounts payable
$135,000
Notes payable
$125,000
Rent payable
$49,000
Premium on bonds payable
$53,000
Total current liabilities (c)
$362,000
Long-term liabilities:
Pension obligation
$82,000
Bonds payable
$500,000
Total long-term liabilities (d)
$582,000
Stockholders’ equity:
Common stock
$290,000
Additional paid-in capital
$160,000
Retained earnings {(a + b) – c – d – common stock – additional paid-in capital}
$804,000
Total stockholders’ equity (e)
$1,254,000
Total liabilities and stockholders’ equity (c + d + e)
$2,198,000
Heads
Amount
Amount
Current assets:
Cash
$230,000
Accounts receivable (Gross) (340,000 + 17,000 =)
$357,000
Less: Allowance for doubtf.
Exercise 8-4The ledger of Wainwright Company at the end of the c.docx
Exercise 8-4
The ledger of Wainwright Company at the end of the current year shows Accounts Receivable $76,000; Credit Sales $986,000; and Sales Returns and Allowances $42,200. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
(a)
If Wainwright uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Wainwright determines that Hiller’s $1,000 balance is uncollectible.
(b)
If Allowance for Doubtful Accounts has a credit balance of $1,200 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 11% of accounts receivable.
(c)
If Allowance for Doubtful Accounts has a debit balance of $950 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 8% of accounts receivable.
No.
Account Titles and Explanation
Debit
Credit
(a)
(b)
(c)
Exercise 8-11
Suppose the following information was taken from the 2014 financial statements of FedEx Corporation, a major global transportation/delivery company.
(in millions)
2014
2013
Accounts receivable (gross)
$ 3,678
$ 4,608
Accounts receivable (net)
3,374
4,330
Allowance for doubtful accounts
304
278
Sales revenue
34,275
37,054
Total current assets
7,104
7,206
Answer each of the following questions.
Calculate the accounts receivable turnover and the average collection period for 2014 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.)
Accounts receivable turnover
times
The average collection period for 2014
days
Broadening Your Perspective 8-1
The financial statements of Tootsie Roll are presented below.
TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF
Earnings, Comprehensive Earnings and Retained Earnings (in thousands except per share data)
For the year ended December 31,
2011
2010
2009
Net product sales
$528,369
$517,149
$495,592
Rental and royalty revenue
4,136
4,299
3,739
Total revenue
532,505
521,448
499,331
Product cost of goods sold
365,225
349,334
319,775
Rental and royalty cost
1,038
1,088
852
Total costs
366,263
350,422
320,627
Product gross margin
163,144
167,815
175,817
Rental and royalty gross margin
3,098
3,211
2,887
Total gross margin
166,242
171,026
178,704
Selling, marketing and administrative expenses
108,276
106,316
103,755
Impairment charges
—
—
14,000
Earnings from operations
57,966
64,710
60,949
Other income (expense), net
2,946
8,358
2,100
Earnings before income taxes
60,912
73,068
63,049
Provision for income taxes
16,974
20,005
9,892
Net earnings
$43,938
$53,063
$53,157
Net earnings
$43,938
$53,063
$53,157
Other comprehensive earnings (loss)
(8,740
)
1,183
2,845
Comprehensive earnings
...
Project I The trial balance of the Elker Fashions Inc.docx
Project I
The trial balance of the Elker Fashions Incorporated contained the following accounts at
December 31, 2008 the end of the company’s calendar year.
Elker Fashions Incorporated
Trial Balance
December 31, 2008
Debit Credit
Cash $ 26,500
Accounts Receivable 42,200
Merchandise Inventory (Beginning) 52,500
Land 94,000
Buildings 183,000
Accumulated Depreciation-Buildings $ 56,400
Equipment 84,500
Accumulated Depreciation-Equipment 42,400
Notes Payable 40,000
Accounts Payable 37,500
Common Stock 205,500
Retained Earnings 67,800
Dividends 11,000
Sales 865,800
Sales Discounts 6,100
Purchases 720,000
Purchase Discounts 16,400
Freight-in 12,900
Salaries Expense 70,700
Utilities Expense 11,400
Repair Expense 5,900
Gas and Oil Expense 7,600
Insurance Expense 3,500
$ 1,331,800 $ 1,331,800
Adjustment data:
1. Depreciation is $12,000 on buildings and $10,000 on equipment. (Both are administrative
expenses.)
2. Interest of $9,000 is unpaid on notes payable at December 31.
Other data:
1. The beginning balance of accounts receivable is $26,750.
2. The amount of total assets at the beginning of the year is $378,231.
3. Merchandise inventory on hand at December 31, 2008 is $80,000.
4. Salaries are 70% selling and 30% administrative.
5. $12,000 of the notes payable are payable next year.
6. Gas and oil expense is a selling expense.
7. Utilities expense, repair expense, and insurance expense are 100% administrative.
Instructions
1) Journalize the adjusting entries.
2) Prepare a multiple-step income statement and a retained earnings statement for the year
and a classified balance sheet as of December 31, 2008.
3) Journalize the closing entries.
4) Prepare a post-closing trial balance.
5) Prepare the following ratios and show all support for your computations:
(No partial credit given without work/computations)
a) Current Ratio
b) Quick Ratio
c) Working Capital
d) Accounts Receivable Turnover
e) Average Collection Period
f) Inventory Turnover
g) Days in Inventory
h) Debt to Total Assets Ratio
i) Gross Profit Ratio
j) Profit Margin Ratio
k) Return on Assets Ratio
l) Asset Turnover Ratio
6) Based on the ratios computed in 5) above, answer the following questions and use the
financial statement ratios to support your answers where appropriate:
Do you feel that the company is able to meet its current and long term obligations as they
become due?
Comment on the profitability of the company with respect to the various profitability ratios
that you computed.
Would you lend money to this company for the long term?
Comment on the ability.
The following information for Cooper Enterprises is given below- Ther.docx
The following information for Cooper Enterprises is given below:
There were no actuarial gains or losses at January 1, 2015. The average remaining service life of employees is 10 years.
What is the pension expense that Cooper Enterprises should report for 2015?
Solution
Pension Expenses to be reported for the Year 2015
Cooper Enterprises
Particulars
Amount ($)
Plan Assets ( Fair Value)
400,000
Add: Contributions
240,000
Less: Accumulated Other Comprehensive Loss
335,800
Less; Pension Assets at Jan 1, 2015
20,000
Pension Expense for Year 2015
284,200
( Note
.
Calculating EFN The most recent financial statements for Moose Tours.pdf
Calculating EFN The most recent financial statements for Moose Tours, Inc., appear below.
Sales for 2012 are projected to grow by 20 percent. Interest expense will remain constant; the tax
rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets,
fixed assets, and accounts payable increase spontaneously with sales. MOOSE TOURS, INC.
2011 Income Statement Sales $ 836,100 Costs 650,700 Other expenses 17,100 Earnings before
interest and taxes $ 168,300 Interest expense 12,600 Taxable income $ 155,700 Taxes 54,495
Net income $ 101,205 Dividends $ 30,300 Addition to retained earnings 70,905 MOOSE
TOURS, INC. Balance Sheet as of December 31, 2011 Assets Liabilities and Owners’ Equity
Current assets Current liabilities Cash $ 24,035 Accounts payable $ 64,600 Accounts receivable
38,665 Notes payable 16,150 Inventory 82,555 Total $ 80,750 Total $ 145,255 Long-term debt $
150,000 Fixed assets Owners’ equity Net plant and equipment $ 392,350 Common stock and
paid-in surplus $ 130,000 Retained earnings 176,855 Total $ 306,855 Total assets $ 537,605
Total liabilities and owners’ equity $ 537,605 If the firm is operating at full capacity and no new
debt or equity is issued, what external financing is needed to support the 20 percent growth rate
in sales?
Solution
EFN = Total assets – Total liabilities and equity
Proforma Income Statement
Projected
Particulars
Amount
%
Particulars
Amount
Sales
836,100
100.00
Sales
1,003,320
Less : Costs
650,700
77.83
Less : Costs
780,840
Other Expenses
17,100
2.05
Other Expenses
20,520
EBIT
168,300
20.13
EBIT
201,960
Interest
12,600
Interest
12,600
Taxable Income
155,700
Taxable Income
189,360
Taxes
54,495
35.00
Taxes
66,276
Net Income
101,205
Net Income
123,084
Dividends
30,300
29.94
Dividends
36,850
Additon to retain earnings
70,905
Additon to retain earnings
86,234
Balance Sheet
Assets
Amount
%
Liabilities and Owners’ Equity
Amount
%
Current assets
Current liabilities
Cash
24,035
Accounts Payable
64,600
Accounts Receivable
38,665
Notes Payable
16,150
Inventory
82,555
80,750
15.02
145,255
37.02
Fixed assets :
Long Term Debt
150,000
Net plant and equipment
392,350
72.98
Owners’ equity
Common stock and paid-in surplus
130,000
Retained earnings
176,855
306,855
537,605
100.00
537,605
Balance Sheet(Projected)
Assets
Amount
%
Liabilities and Owners’ Equity
Amount
%
Current assets
Current liabilities
Cash
28,842
Accounts Payable
77,520
Accounts Receivable
46,398
Notes Payable
19,380
Inventory
99,066
96,900
15.141
174,306
37.02
Fixed assets :
Long Term Debt
150,000
Net plant and equipment
470,820
72.98
Owners’ equity
Common stock and paid-in surplus
130,000
Retained earnings(176,855+86,234)
263,089
393,089
645,126
100.00
639,989
EFN
5,137
Proforma Income Statement
Projected
Particulars
Amount
%
Particulars
Amount
Sales
836,100
100.00
Sales
1,003,320
Less : Costs
650,700
77.83
Less : Costs
780,840
Other Expenses
17,100
2.05
Other Expenses
20,520
EBIT
168,300
20.13
EBIT
201,960
Interest
12,.
In recent years, the number of people who use the Internet to obt.pdf
In recent years, the number of people who use the Internet to obtain political news has grown.
Often the political Web sites ask Internet users to register their opinions by participating in
online surveys. Pew Research Center conducted a survey of its own to learn about the
participation of Republicans and Democrats in online surveys (Associated Press, January 6,
2003). The following sample data apply. Q/widebar(p) republicans= (2 digits to the right of the
decimal)
Solution
phat=115/250= 0.46.
Jack and Jill went up a hill to fetch a pail of water. There was a 50.pdf
Jack and Jill went up a hill to fetch a pail of water. There was a 50% chance for Jack to fall
down on the return trip. If Jack fell down there was a 50% chance that Jill would fall down after
him. Otherwise, Jill would not fall down. Given that Jill did not fall down. What is the
probability that Jack did not fall down?
Solution
Let E = Jack falls down Let F = Jill falls down We are given the following: Pr[E]
= 0.5 Pr[F|E] = 0.5 Pr[F|E\'] = 0 Question is asking Pr[E\'|F\'] Pr[E\'|F\'] = Pr[E\']*Pr[F\'|E\'] / (
Pr[E\']*Pr[F\'|E\'] + Pr[E]*Pr[F\'|E] ) = (.5)*(1) / [(.5)*(1) + (.5)*(.5)] = 2/3.
More Related Content
Similar to Kempe Corporations capital structure consists of 50,000 shares of c.pdf
Exercise 12-1Putnam Corporation had these transactions during 20.docx
Exercise 12-1
Putnam Corporation had these transactions during 2014.
Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities, financing activities, or noncash investing and financing activities.
(a)
Purchased a machine for $30,000, giving a long-term note in exchange.
(b)
Issued $50,000 par value common stock for cash.
(c)
Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
(d)
Declared and paid a cash dividend of $13,000.
(e)
Sold a long-term investment with a cost of $15,000 for $15,000 cash.
(f)
Collected $16,000 of accounts receivable.
(g)
Paid $18,000 on accounts payable.
IFRS 13-1
Ling Company reports the following information for the year ended December 31, 2014: sales revenue $1,000,000, cost of goods sold $700,000, operating expenses $200,000, and an unrealized gain on non-trading securities of $75,000. Prepare a statement of comprehensive income using the one-statement approach.
LING COMPANY
Statement of Comprehensive Income
For the Year Ended December 31, 2014
$
$
Problem 12-9A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 127,664
$ 76,472
Accounts receivable
138,724
60,040
Inventory
177,750
162,503
Prepaid expenses
44,872
41,080
Long-term investments
218,040
172,220
Plant assets
450,300
383,150
Accumulated depreciation
(79,000
)
(82,160
)
Total
$1,078,350
$813,305
Liabilities and Stockholders’ Equity
Accounts payable
$ 161,160
$ 106,334
Accrued expenses payable
26,070
33,180
Bonds payable
173,800
230,680
Common stock
347,600
276,500
Retained earnings
369,720
166,611
Total
$1,078,350
$813,305
ODGERS INC.Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$613,767
Less:
Cost of goods sold
$214,027
Operating expenses, excluding depreciation
19,608
Depreciation expense
73,470
Income tax expense
43,102
Interest expense
7,473
Loss on disposal of plant assets
11,850
369,530
Net income
$ 244,237
Additional information:
1.
New plant assets costing $158,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $90,850 and accumulated depreciation of $76,630 were sold for $2,370 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $41,128 was declared and paid during the year.
Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
ODGERS INC.Statement of Cash Flows
For the Year Ended December 31, 2014
$
Adjustments to reconcile net income to
$
...
Chapter 2Problems Set BP2-1B Suppose the following items are .docx
Chapter 2
Problems: Set B
P2-1B Suppose the following items are taken from the 2014 balance sheet of Starbucks Corporation. (All dollars are in millions.)
Goodwill
$ 477
Common stock
40
Equipment
3,036
Accounts payable
391
Stock investments (long-term)
280
Accounts receivable
288
Prepaid rent
278
Debt investments (current)
157
Retained earnings
2,244
Cash
281
Notes payable (noncurrent)
550
Notes payable (current)
1,468
Unearned sales revenue (current)
297
Bonds payable
354
Inventory
692
Accumulated depreciation—equipment
145
Instructions
Prepare a classified balance sheet for Starbucks Corporation as of September 30, 2014.
P2-2B These items are taken from the financial statements of Mueller, Inc.
Prepaid insurance
$ 2,400
Equipment
30,000
Salaries and wages expense
34,000
Utilities expense
2,100
Accumulated depreciation—equipment
7,600
Accounts payable
7,200
Cash
6,100
Accounts receivable
2,900
Salaries and wages payable
3,000
Common stock
6,000
Depreciation expense
4,300
Retained earnings (beginning)
14,000
Dividends
2,600
Service revenue
51,000
Maintenance and repairs expense
2,600
Insurance expense
1,800
Instructions
Prepare an income statement, a retained earnings statement, and a classified balance sheet as of December 31, 2014.
P2-3B You are provided with the following information for Vern Corporation, effective as of its April 30, 2014, year-end.
Accounts payable
$ 3,100
Accounts receivable
10,150
Accumulated depreciation—equipment
6,600
Depreciation expense
3,200
Cash
20,955
Common stock
20,000
Dividends
2,800
Equipment
24,250
Sales revenue
20,450
Income tax expense
700
Income taxes payable
300
Interest expense
350
Interest payable
175
Notes payable (due in 2018)
4,700
Prepaid rent
380
Rent expense
660
Retained earnings, beginning
13,960
Salaries and wages expense
5,840
Instructions
(a)
Prepare an income statement and a retained earnings statement for Vern Corporation for the year ended April 30, 2014.
(b)
Prepare a classified balance sheet for Vern as of April 30, 2014.
P2-4B Comparative statement data for Omaz Company and Wise Company, two competitors, are presented below. All balance sheet data are as of December 31, 2014.
Omaz Company
Wise Company
2014
2014
Net sales
$450,000
$900,000
Cost of goods sold
225,000
450,000
Operating expenses
130,000
150,000
Interest expense
6,000
10,000
Income tax expense
15,000
75,000
Current assets
180,000
700,000
Plant assets (net)
600,000
800,000
Current liabilities
75,000
230,000
Long-term liabilities
190,000
200,000
Net cash provided by operating activities
46,000
180,000
Capital expenditures
20,000
50,000
Dividends paid
-0-
5,000
Average number of shares outstanding
200,000
500,000
Instructions
(a)
Compute the net income and earnings per share for each company for 2014.
(b)
Comment on the relative liquidity of the companies by computing working capital and the current ratio for each company for 2014.
(c)
Comment on the relative solvency of the.
The statements of financial position of Amapa Ltd. are presented bel.pdf
The statements of financial position of Amapa Ltd. are presented below:
Amapa Ltd.
Statements of Financial Position as at December 31
2021 2020
$ $ $
Non-current Assets
Property, plant & equipment, at cost 888,800 600,000
Less: Accumulated depreciation 138,800 36,000
750,000 564,000
Current Assets
Inventory 127,200 86,400
Trade receivables 102,000 56,400
Bank 2,400 26,400
231,600 169,200
TOTAL ASSETS 981,600 733,200
Equity
Ordinary share capital ($1 each) 788,400 582,000
Retained earnings 117,600 48,000
906,000 630,000
Non-current Liabilities
8% Loan notes - 24,000
Current Liabilities
Trade payables 45,600 56,400
Taxation 30,000 22,800
75,600 79,200
Total Liabilities and Equity 981,600 733,200
Additional information for year ended 2021 December 31:
(i) Net profit before tax amounted to $136,800.
(ii) Interest paid was $2,400.
(iii) Taxation paid was $22,800.
(iv) Dividends of $37,200 were paid.
(v) Depreciation for the year was $112,800.
(vi) Non-current assets which had cost $40,000 and had accumulated depreciation of $10,000
were sold at a profit of $7,200.
Required:
Prepare a statement of cash flows for Amapa Ltd. for the year ended 31 December 2021 in
accordance with IAS 7 Statement of Cash Flows, using the indirect method..
Acct 550 final exam
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Exercise 5-5Uhura Company has decided to expand its operations. Th.pdf
Exercise 5-5
Uhura Company has decided to expand its operations. The bookkeeper recently completed the
balance sheet presented below in order to obtain additional funds for expansion.
UHURA COMPANY
BALANCE SHEET
FOR THE YEAR ENDED 2014
Current assets
Cash $230,000
Accounts receivable (net) 340,000
Inventory (lower-of-average-cost-or-market) 401,000
Equity investments (trading)-at cost (fair value $120,000) 140,000
Property, plant, and equipment
Buildings (net) 570,000
Equipment (net) 160,000
Land held for future use 175,000
Intangible assets
Goodwill 80,000
Cash surrender value of life insurance 90,000
Prepaid expenses 12,000
Current liabilities
Accounts payable 135,000
Notes payable (due next year) 125,000
Pension obligation 82,000
Rent payable 49,000
Premium on bonds payable 53,000
Long-term liabilities
Bonds payable 500,000
Stockholders’ equity
Common stock, $1.00 par, authorized 400,000 shares, issued 290,000 290,000
Additional paid-in capital 160,000
Retained earnings ?
Prepare a revised balance sheet given the available information. Assume that the accumulated
depreciation balance for the buildings is $160,000 and for the equipment, $105,000. The
allowance for doubtful accounts has a balance of $17,000. The pension obligation is considered a
long-term liability. (List Current Assets in order of liquidity. List Property, Plant and Equipment
in order of Buildings and Equipment. Enter account name only and do not provide the
descriptive information provided in the question.)
Uhura Company
Balance Sheet
December 31, 2014
Assets
$
$
:
$
$
:
:
$
Liabilities and Stockholders\' Equity
$
$
$
:
$
Solution
The revised balance sheet is as below
Heads
Amount
Amount
Current assets:
Cash
$230,000
Accounts receivable (Gross) (340,000 + 17,000 =)
$357,000
Less: Allowance for doubtful accounts
$17,000
$340,000
Inventory
$401,000
Equity investments
$140,000
Total current assets (a)
1,111,000
Property, plant, and equipment:
Building (Gross) (570,000 + 160,000 =)
$730,000
Less: Accumulated depreciation
$160,000
$570,000
Equipment (Gross) (160,000 + 105,000 =)
$265,000
Less: Accumulated depreciation
$105,000
$160,000
Land
$175,000
Goodwill
$80,000
Cash surrender value
$90,000
Prepaid expenses
$12,000
Total property, plant, and equipment (b)
$1,087,000
Total assets (a + b)
$2,198,000
Current liabilities:
Accounts payable
$135,000
Notes payable
$125,000
Rent payable
$49,000
Premium on bonds payable
$53,000
Total current liabilities (c)
$362,000
Long-term liabilities:
Pension obligation
$82,000
Bonds payable
$500,000
Total long-term liabilities (d)
$582,000
Stockholders’ equity:
Common stock
$290,000
Additional paid-in capital
$160,000
Retained earnings {(a + b) – c – d – common stock – additional paid-in capital}
$804,000
Total stockholders’ equity (e)
$1,254,000
Total liabilities and stockholders’ equity (c + d + e)
$2,198,000
Heads
Amount
Amount
Current assets:
Cash
$230,000
Accounts receivable (Gross) (340,000 + 17,000 =)
$357,000
Less: Allowance for doubtf.
Exercise 8-4The ledger of Wainwright Company at the end of the c.docx
Exercise 8-4
The ledger of Wainwright Company at the end of the current year shows Accounts Receivable $76,000; Credit Sales $986,000; and Sales Returns and Allowances $42,200. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
(a)
If Wainwright uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Wainwright determines that Hiller’s $1,000 balance is uncollectible.
(b)
If Allowance for Doubtful Accounts has a credit balance of $1,200 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 11% of accounts receivable.
(c)
If Allowance for Doubtful Accounts has a debit balance of $950 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 8% of accounts receivable.
No.
Account Titles and Explanation
Debit
Credit
(a)
(b)
(c)
Exercise 8-11
Suppose the following information was taken from the 2014 financial statements of FedEx Corporation, a major global transportation/delivery company.
(in millions)
2014
2013
Accounts receivable (gross)
$ 3,678
$ 4,608
Accounts receivable (net)
3,374
4,330
Allowance for doubtful accounts
304
278
Sales revenue
34,275
37,054
Total current assets
7,104
7,206
Answer each of the following questions.
Calculate the accounts receivable turnover and the average collection period for 2014 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.)
Accounts receivable turnover
times
The average collection period for 2014
days
Broadening Your Perspective 8-1
The financial statements of Tootsie Roll are presented below.
TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF
Earnings, Comprehensive Earnings and Retained Earnings (in thousands except per share data)
For the year ended December 31,
2011
2010
2009
Net product sales
$528,369
$517,149
$495,592
Rental and royalty revenue
4,136
4,299
3,739
Total revenue
532,505
521,448
499,331
Product cost of goods sold
365,225
349,334
319,775
Rental and royalty cost
1,038
1,088
852
Total costs
366,263
350,422
320,627
Product gross margin
163,144
167,815
175,817
Rental and royalty gross margin
3,098
3,211
2,887
Total gross margin
166,242
171,026
178,704
Selling, marketing and administrative expenses
108,276
106,316
103,755
Impairment charges
—
—
14,000
Earnings from operations
57,966
64,710
60,949
Other income (expense), net
2,946
8,358
2,100
Earnings before income taxes
60,912
73,068
63,049
Provision for income taxes
16,974
20,005
9,892
Net earnings
$43,938
$53,063
$53,157
Net earnings
$43,938
$53,063
$53,157
Other comprehensive earnings (loss)
(8,740
)
1,183
2,845
Comprehensive earnings
...
Project I The trial balance of the Elker Fashions Inc.docx
Project I
The trial balance of the Elker Fashions Incorporated contained the following accounts at
December 31, 2008 the end of the company’s calendar year.
Elker Fashions Incorporated
Trial Balance
December 31, 2008
Debit Credit
Cash $ 26,500
Accounts Receivable 42,200
Merchandise Inventory (Beginning) 52,500
Land 94,000
Buildings 183,000
Accumulated Depreciation-Buildings $ 56,400
Equipment 84,500
Accumulated Depreciation-Equipment 42,400
Notes Payable 40,000
Accounts Payable 37,500
Common Stock 205,500
Retained Earnings 67,800
Dividends 11,000
Sales 865,800
Sales Discounts 6,100
Purchases 720,000
Purchase Discounts 16,400
Freight-in 12,900
Salaries Expense 70,700
Utilities Expense 11,400
Repair Expense 5,900
Gas and Oil Expense 7,600
Insurance Expense 3,500
$ 1,331,800 $ 1,331,800
Adjustment data:
1. Depreciation is $12,000 on buildings and $10,000 on equipment. (Both are administrative
expenses.)
2. Interest of $9,000 is unpaid on notes payable at December 31.
Other data:
1. The beginning balance of accounts receivable is $26,750.
2. The amount of total assets at the beginning of the year is $378,231.
3. Merchandise inventory on hand at December 31, 2008 is $80,000.
4. Salaries are 70% selling and 30% administrative.
5. $12,000 of the notes payable are payable next year.
6. Gas and oil expense is a selling expense.
7. Utilities expense, repair expense, and insurance expense are 100% administrative.
Instructions
1) Journalize the adjusting entries.
2) Prepare a multiple-step income statement and a retained earnings statement for the year
and a classified balance sheet as of December 31, 2008.
3) Journalize the closing entries.
4) Prepare a post-closing trial balance.
5) Prepare the following ratios and show all support for your computations:
(No partial credit given without work/computations)
a) Current Ratio
b) Quick Ratio
c) Working Capital
d) Accounts Receivable Turnover
e) Average Collection Period
f) Inventory Turnover
g) Days in Inventory
h) Debt to Total Assets Ratio
i) Gross Profit Ratio
j) Profit Margin Ratio
k) Return on Assets Ratio
l) Asset Turnover Ratio
6) Based on the ratios computed in 5) above, answer the following questions and use the
financial statement ratios to support your answers where appropriate:
Do you feel that the company is able to meet its current and long term obligations as they
become due?
Comment on the profitability of the company with respect to the various profitability ratios
that you computed.
Would you lend money to this company for the long term?
Comment on the ability.
The following information for Cooper Enterprises is given below- Ther.docx
The following information for Cooper Enterprises is given below:
There were no actuarial gains or losses at January 1, 2015. The average remaining service life of employees is 10 years.
What is the pension expense that Cooper Enterprises should report for 2015?
Solution
Pension Expenses to be reported for the Year 2015
Cooper Enterprises
Particulars
Amount ($)
Plan Assets ( Fair Value)
400,000
Add: Contributions
240,000
Less: Accumulated Other Comprehensive Loss
335,800
Less; Pension Assets at Jan 1, 2015
20,000
Pension Expense for Year 2015
284,200
( Note
.
Calculating EFN The most recent financial statements for Moose Tours.pdf
Calculating EFN The most recent financial statements for Moose Tours, Inc., appear below.
Sales for 2012 are projected to grow by 20 percent. Interest expense will remain constant; the tax
rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets,
fixed assets, and accounts payable increase spontaneously with sales. MOOSE TOURS, INC.
2011 Income Statement Sales $ 836,100 Costs 650,700 Other expenses 17,100 Earnings before
interest and taxes $ 168,300 Interest expense 12,600 Taxable income $ 155,700 Taxes 54,495
Net income $ 101,205 Dividends $ 30,300 Addition to retained earnings 70,905 MOOSE
TOURS, INC. Balance Sheet as of December 31, 2011 Assets Liabilities and Owners’ Equity
Current assets Current liabilities Cash $ 24,035 Accounts payable $ 64,600 Accounts receivable
38,665 Notes payable 16,150 Inventory 82,555 Total $ 80,750 Total $ 145,255 Long-term debt $
150,000 Fixed assets Owners’ equity Net plant and equipment $ 392,350 Common stock and
paid-in surplus $ 130,000 Retained earnings 176,855 Total $ 306,855 Total assets $ 537,605
Total liabilities and owners’ equity $ 537,605 If the firm is operating at full capacity and no new
debt or equity is issued, what external financing is needed to support the 20 percent growth rate
in sales?
Solution
EFN = Total assets – Total liabilities and equity
Proforma Income Statement
Projected
Particulars
Amount
%
Particulars
Amount
Sales
836,100
100.00
Sales
1,003,320
Less : Costs
650,700
77.83
Less : Costs
780,840
Other Expenses
17,100
2.05
Other Expenses
20,520
EBIT
168,300
20.13
EBIT
201,960
Interest
12,600
Interest
12,600
Taxable Income
155,700
Taxable Income
189,360
Taxes
54,495
35.00
Taxes
66,276
Net Income
101,205
Net Income
123,084
Dividends
30,300
29.94
Dividends
36,850
Additon to retain earnings
70,905
Additon to retain earnings
86,234
Balance Sheet
Assets
Amount
%
Liabilities and Owners’ Equity
Amount
%
Current assets
Current liabilities
Cash
24,035
Accounts Payable
64,600
Accounts Receivable
38,665
Notes Payable
16,150
Inventory
82,555
80,750
15.02
145,255
37.02
Fixed assets :
Long Term Debt
150,000
Net plant and equipment
392,350
72.98
Owners’ equity
Common stock and paid-in surplus
130,000
Retained earnings
176,855
306,855
537,605
100.00
537,605
Balance Sheet(Projected)
Assets
Amount
%
Liabilities and Owners’ Equity
Amount
%
Current assets
Current liabilities
Cash
28,842
Accounts Payable
77,520
Accounts Receivable
46,398
Notes Payable
19,380
Inventory
99,066
96,900
15.141
174,306
37.02
Fixed assets :
Long Term Debt
150,000
Net plant and equipment
470,820
72.98
Owners’ equity
Common stock and paid-in surplus
130,000
Retained earnings(176,855+86,234)
263,089
393,089
645,126
100.00
639,989
EFN
5,137
Proforma Income Statement
Projected
Particulars
Amount
%
Particulars
Amount
Sales
836,100
100.00
Sales
1,003,320
Less : Costs
650,700
77.83
Less : Costs
780,840
Other Expenses
17,100
2.05
Other Expenses
20,520
EBIT
168,300
20.13
EBIT
201,960
Interest
12,.
Similar to Kempe Corporations capital structure consists of 50,000 shares of c.pdf (20)
Exercise 12-1Putnam Corporation had these transactions during 20.docx
Exercise 12-1Putnam Corporation had these transactions during 20.docx
Chapter 2Problems Set BP2-1B Suppose the following items are .docx
Chapter 2Problems Set BP2-1B Suppose the following items are .docx
The statements of financial position of Amapa Ltd. are presented bel.pdf
The statements of financial position of Amapa Ltd. are presented bel.pdf
Exercise 5-5Uhura Company has decided to expand its operations. Th.pdf
Exercise 5-5Uhura Company has decided to expand its operations. Th.pdf
Exercise 8-4The ledger of Wainwright Company at the end of the c.docx
Exercise 8-4The ledger of Wainwright Company at the end of the c.docx
Project I The trial balance of the Elker Fashions Inc.docx
Project I The trial balance of the Elker Fashions Inc.docx
The following information for Cooper Enterprises is given below- Ther.docx
The following information for Cooper Enterprises is given below- Ther.docx
Calculating EFN The most recent financial statements for Moose Tours.pdf
Calculating EFN The most recent financial statements for Moose Tours.pdf
More from pooranmalsaini1968
In recent years, the number of people who use the Internet to obt.pdf
In recent years, the number of people who use the Internet to obtain political news has grown.
Often the political Web sites ask Internet users to register their opinions by participating in
online surveys. Pew Research Center conducted a survey of its own to learn about the
participation of Republicans and Democrats in online surveys (Associated Press, January 6,
2003). The following sample data apply. Q/widebar(p) republicans= (2 digits to the right of the
decimal)
Solution
phat=115/250= 0.46.
Jack and Jill went up a hill to fetch a pail of water. There was a 50.pdf
Jack and Jill went up a hill to fetch a pail of water. There was a 50% chance for Jack to fall
down on the return trip. If Jack fell down there was a 50% chance that Jill would fall down after
him. Otherwise, Jill would not fall down. Given that Jill did not fall down. What is the
probability that Jack did not fall down?
Solution
Let E = Jack falls down Let F = Jill falls down We are given the following: Pr[E]
= 0.5 Pr[F|E] = 0.5 Pr[F|E\'] = 0 Question is asking Pr[E\'|F\'] Pr[E\'|F\'] = Pr[E\']*Pr[F\'|E\'] / (
Pr[E\']*Pr[F\'|E\'] + Pr[E]*Pr[F\'|E] ) = (.5)*(1) / [(.5)*(1) + (.5)*(.5)] = 2/3.
Jonas has 4 classical music CDs. 5 country music CDs, and 3 rock musi.pdf
Jonas has 4 classical music CDs. 5 country music CDs, and 3 rock music CDs. In how many
different ways can he arrange them so that the CDs of the same type are contiguous?
Solution
There are 4! ways to arrange the classical music CD\'s, 5! ways to arrange the
country music CD\'s, and 3! ways to arrange the rock music CD\'s. Lastly, there are 3! ways to
arrange the 3 genres of CD\'s. Therefore the answer is 4!5!3!3! = 24*120*6*6 = 103,680.
JNS Inc. recently paid a $1.00 annual dividend. The dividend is expec.pdf
JNS Inc. recently paid a $1.00 annual dividend. The dividend is expected to grow at a 2% rate.
At a current stock price of $12, what is the return shareholders are expecting? %
Solution
Price = (Current dividend*(1+growth rate)) / (required return - growth rate)
12 = (1.00*(1+0.02)) / (r-0.02)
12r-0.24 = 1.02
12r=1.26
r=0.1050
r= 10.5% (return).
JetBlue revenue in 2002 was $635.2 million. By 2009, revenue had in.pdf
JetBlue revenue in 2002 was $635.2 million. By 2009, revenue had increased to $3,290.0
million. What is the geometric mean annual increase for the period?
Solution
let a= 635.2
after7 years revenue is 3290
hence 3290=635.2*r7
r=1.265 means each years revenue increased 1.265 times the revenue of previous year.
Jeff deposits 150 into a fund today and 215 ten years later. Interest.pdf
Jeff deposits 150 into a fund today and 215 ten years later. Interest for the first 7 years is
credited at a nominal discount rate of d compounded quarterly, and thereafter at a nominal
interest rate of 8% compounded semiannually. The accumulated balance in the fund at the end of
15 years is 740. Calculate d.
Solution
Present Value 150Present Value150Future Value at the end of 15 years740Let Interest Rate for
First 7 YeardInterest Rate For Next 3 Year8% Compounding semi annuallyWe Can calculate \'d\'
by applying following formula :FvPV*(1+PIF)^n 740
=(150*(1+d*3/12)^28)*(1+8%*6/12)^16 740 =(150*(1+d*3/12)^28)*1.87
740/1.87
=(150*(1+d*3/12)^28)395.72(150*(1+d*3/12)^28)2.64(1+d*3/12)^28)1.04(1+d*3/12)d0.16d =
16% p.a. compunding Quarterly.
Information is given about a polynomial f(x) whose coefficients a.pdf
Information is given about a polynomial f(x) whose coefficients are real numbers. Find the
remaining zeros of f.
Degree 4; zeros: i, 2+i
Information is given about a polynomial f(x) whose coefficients are real numbers. Find the
remaining zeros of f.
Degree 4; zeros: i, 2+i
Degree 4; zeros: i, 2+i
Solution
degree 4 means it contains 4 roots
given i,i+2 as two roots
for coefficients to be real imaginary roots exist in conjugate pairs
so other roots are
-i and 2-i.
Italian energy concern Eni SpA agreed to annually purchase 2 billion .pdf
Italian energy concern Eni SpA agreed to annually purchase 2 billion cubic meters of LNG from
Nigeria LNG Ltd. for resale to the United States. The gas is to be produced at the Bonny facility
in Africa and delivered to the Cameron import terminal in Louisiana. It is expected that
deliveries will start in 2012 and last for 20 years at a price of $0.25 per cubic meter. What is the
present worth (end 2006) of the contract? Assume an annual interest rate of 13.575% and end of
year cash flows. $1-8 billion $10.0 billion $3.4 billion $7.2 billion
Solution
Cash flow per year = volume*price
=2*.25 = 0.5 billion
K = N
Present value of annuity =[(Annuity payment)/(1 + Required rate of return)^k]
k=1
K = 20
Present value of annuity =[(0.5)/(1 +13.575/100)^k]
k=1
PV = 3.4billion.
It cost a contractor $12,750 to manufacture their first unit. The c.pdf
It cost a contractor $12,750 to manufacture their first unit. The company expects to experience a
92% unit learning curve. Estimate the cost of the 10th unit. (Round intermediate calculations to 4
decimal places)
a. $11,985
b. $ 9,665
c. $10,380
d. $15,661
Solution
Answer question.
Is there a such thing as a set with exactly 1,000 subsets Why .pdf
Is there a such thing as a set with exactly 1,000 subsets? Why or why not?
Solution
No. If a set A has n elements, then it has 2n subsets. Since 1000 is not a power of 2, then no set
can have exactly 1000 subsets. The closest is 1,024 subsets: any set with 10 elements with have
exactly 210 = 1024 subsets..
Is the group of planar rotations of a square isomorphic to Z4 or to t.pdf
Is the group of planar rotations of a square isomorphic to Z4 or to the Klein 4-group V4? Prove
your claim.
Solution
The symmetry group of this cross is the Klein four-group. It can be flipped horizontally or
vertically or both and remain unchanged. Unlike a square, though, a quarter-turn rotation will
change the figure.
The Klein four-group is the smallest non-cyclic group. All non-identity elements of the Klein
group have order 2. It is abelian, and isomorphic to thedihedral group of order (cardinality) 4. It
is also isomorphic to the direct sum Z2 ? Z2, so that it can be represented as the bit strings {00,
01, 10, 11}under bitwise XOR.
An elementary construction of the Klein four-group is the multiplicative group { 1, 3, 5, 7 } with
the action being multiplication modulo 8. Here a is 3, b is 5, and c=ab is 3.
Is centralized drinking water treatment and distribution more or less.pdf
Is centralized drinking water treatment and distribution more or less resilient than point of use
water treatment technologies? Why or why not? (h) Does it matter whether these water treatment
systems are implemented in the developing or developed world?
Solution
: Student responses will van..
Investments in stocks that are expected to be held for the long t.pdf
Investments in stocks that are expected to be held for the long term are listed in the stockholders
equity section of the balance sheet. True or false
Investments in stocks that are expected to be held for the long term are listed in the stockholders
equity section of the balance sheet. True or false
Solution
Given statement is False
Investment in stocks is asset, shown in the assets side but stockholders equity is section under
liabilities and shareholders’ equity..
Involvement of the top officers in corporate crimes increases the pen.pdf
Involvement of the top officers in corporate crimes increases the penalty under the U.S.
sentencing guidelines. True False
Solution
Yes.
As per the US sentences guidelines, the involvement of the top officers of the company increases
the severity of the crime. This severity of crime makes the offence more rampant and other
parties have to suffer a lot. Apart from that, the interest of other stakeholders are also on risk.
That’s why, this involvement increases the penalty..
In multiple regression analysis, testing the global null hypothes.pdf
In multiple regression analysis, testing the global null hypothesis that the multiple regression
coefficients are all zero is based on
a)a z statistic
b)a t statistic
c)a F statistic
d)binomial distribution
**please explain your choice, thanks!
Solution
d)binomial distribution.
infinity 0 tn e-t d t = n!Solution apply inte.pdf
infinity 0 tn e-t d t = n!
Solution
apply integration by parts.. t^n is the first function In= (t^n (-1e^-t )) from 0 to inf -
integral( n t^(n-1) -e^-t) = 0 + integral( n t^(n-1) e^-t) In= n In-1 = n(n-1) In-2 = n(n-1)(n-2) In-
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Inflation and Nominal Returns. Suppose the real rate is 3.2 percent a.pdf
Inflation and Nominal Returns. Suppose the real rate is 3.2 percent and the inflation rate is 4.3
percent. What rate would you expect to see on a Treasury bill?
Solution
Real rate of interest = 3.2%
Inflation rate = 4.3%
The relationship between nominal, real interest rates with inflation is
Real rate of interest = Nominal rate of interest - Inflation rate
Rearranging the equation, Nominal rate of interest = Real rate of interest + Inflation rate
Nominal rate of interest = 3.2% + 4.3% = 7.5%
Hence we can expect a treasury bill to yield 7.50%.
Inflation in the developing country of Terbia has been rising over th.pdf
Inflation in the developing country of Terbia has been rising over the last few years and is
currently at a very high level. Two stock market analysts, Stanley Durro and Michelle
Thompson, are discussing the possible causes of inflation. Michelle thinks that the real reason
why prices are rising is because Terbia\'s economy is expanding. Stanley disagrees. He argues
that the inflation is not demand driven; on the contrary, too much money in the economy is
increasing the price level. s cuff Which of the following, if true, would strengthen Michelle\'s
argument? OA The growth rate of per capita income in Terbia has been higher than the
population growth rate for the last five OB. In order to reduce its budget deficit, the Terbian
government increased the marginal tax rates last year. Oc. The central bank is planning to
deregulate interest rates on savings deposits. OD. The central bank of Terbia has conducted open
market sales of bonds twice in the last one year. OE. Terbia has a significant presence in global
trade and its currency is used as the world\'s reserve currency The growth rate of per capita
income in Terbia has been higher than the population growth rate for the last five years OA- OE.
Terbia has a significant presence in global trade and its currency is used as the world\'s reserve
currency
Solution
The correct answer is:
D. The central bank of Terbia has conducted open market sales of bonds twice in the last one
year.
--------------------------------------------------------------------------------------------
The correct answer is:
B. The government of Dorada scaled up its defense expenditure by more than 50 percent in the
last two years..
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