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Please, I need correct answers and clear explanation of the following b,c and e questions. Thanks, Using the West Jet Financial statements, answer the following questions R1 2-4 p.106-109) b. Why do you think West Jet does not report a cost of goods sold c. Explain what “Advanced ticket sales” in the current liabilities section represents e. How much did West Jet use in 2013 to acquire new aircraft? Which statement did you find this information on? _____________________________________________________________________________ ___________________________________________________________ Please follow these information: RI2-4 (Determination of items from a Canadian company\'s financial statements) Calgary-based WestJet Airlines Ltd. provides services throughout Canada and to some international destinations. Excerpts from its 2013 financial statements are in Exhibits 2-19A to 2- 19C. Exhibit 2-19A WESTJET AIRLINES LTD.\'S 2013 CONSOLIDATED STATEMENT OF EARNINGS Consolidated Statement of Earnings For the years ended December 31 (Stated in thousands of Canadian dollars, except per share amounts) Note 2013 2012 Revenue: Guest 3,337,569 3,133,492 Other 324,628 293,917 3,662,197 3,427,409 Operating expenses: Aircraft fuel 1,039,448 992,787 Airport operations 459,465 424,911 Flight operations and navigational charges 410,052 376,050 Sales and distribution 356,988 333,106 Marketing, general and administration 222,567 202,398 Depreciation and amortization 200,840 185,401 Inflight 176,907 162,633 Aircraft leasing 175,646 173,412 Maintenance 169,197 154,406 Employee profit share 51,577 46,585 3,262,687 3,051,689 Earnings from operations 399,510 375,720 Non-operating income (expense): Finance income 15 17,848 18,391 Finance cost 15 (43,447) (48,900) Gain on foreign exchange 1,136 1,061 Gain (loss) on disposal of property and equipment (2,962) 469 Loss on fuel derivatives — (6,512) (27,425) (35,491) Earnings before income tax 372,085 340,229 Income tax expense (recovery): Current 154,964 66,230 Deferred (51,601) 31,607 11 103,363 97,837 Net earnings 268,722 242,392 Exhibit 2-19B WESTJET AIRLINES LTD.\'S 2013 CONSOLIDATED STATEMENT OF FINANCIAL POSITION Consolidated Statement of Financial Position At December 31 (Stated in thousands of Canadian dollars) Note 2013 2012 Assets Current assets: Cash and cash equivalents 5 1,256,005 1,408,199 Restricted cash 6 58,106 51,623 Accounts receivable 19 42,164 37,576 Prepaid expenses, deposits and other 19 133,263 101,802 Inventory 19 36,722 35,595 1,526,260 1,634,795 Non-current assets: Property and equipment 7 2,487,734 1,985,599 Intangible assets 8 58,691 50,808 Other assets 19 70,778 75,413 Total assets 4,143,463 3,746,615 Liabilities and Shareholders\' Equity Current liabilities: Accounts payable and accrued liabilities 19 543,167 460,003 Advance ticket sales 19 551,022 480,947 Non-refundable guest credits 19 46,975 47,859 Current portion of maintenance provisions 9 76,105 34,135 Current portion of long-term debt 10 .
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Please, I need a correct answer and clear explanation. open image an.pdf
Please, I need a correct answer and clear explanation. open image and zoom for a clear view.
Thanks,
Using the West Jet Financial statements, answer the following questions R1 2-4 p.106-109)
b. Why do you think West Jet does not report a cost of goods sold
c. Explain what “Advanced ticket sales” in the current liabilities section represents
e. How much did West Jet use in 2013 to acquire new aircraft? Which statement did you find this
information on?
RI2-4
(Determination of items from a Canadian company\'s financial statements)
Calgary-based WestJet Airlines Ltd. provides services throughout Canada and to some
international destinations. Excerpts from its 2013 financial statements are in Exhibits 2-19A to 2-
19C.
Exhibit 2-19A WESTJET AIRLINES LTD.\'S 2013 CONSOLIDATED STATEMENT OF
EARNINGS
Consolidated Statement of Earnings
For the years ended December 31
(Stated in thousands of Canadian dollars, except per share amounts)
Note
2013
2012
Revenue:
Guest
3,337,569
3,133,492
Other
324,628
293,917
3,662,197
3,427,409
Operating expenses:
Aircraft fuel
1,039,448
992,787
Airport operations
459,465
424,911
Flight operations and navigational charges
410,052
376,050
Sales and distribution
356,988
333,106
Marketing, general and administration
222,567
202,398
Depreciation and amortization
200,840
185,401
Inflight
176,907
162,633
Aircraft leasing
175,646
173,412
Maintenance
169,197
154,406
Employee profit share
51,577
46,585
3,262,687
3,051,689
Earnings from operations
399,510
375,720
Non-operating income (expense):
Finance income
15
17,848
18,391
Finance cost
15
(43,447)
(48,900)
Gain on foreign exchange
1,136
1,061
Gain (loss) on disposal of property and equipment
(2,962)
469
Loss on fuel derivatives
—
(6,512)
(27,425)
(35,491)
Earnings before income tax
372,085
340,229
Income tax expense (recovery):
Current
154,964
66,230
Deferred
(51,601)
31,607
11
103,363
97,837
Net earnings
268,722
242,392
Exhibit 2-19B WESTJET AIRLINES LTD.\'S 2013 CONSOLIDATED STATEMENT OF
FINANCIAL POSITION
Consolidated Statement of Financial Position
At December 31
(Stated in thousands of Canadian dollars)
Note
2013
2012
Assets
Current assets:
Cash and cash equivalents
5
1,256,005
1,408,199
Restricted cash
6
58,106
51,623
Accounts receivable
19
42,164
37,576
Prepaid expenses, deposits and other
19
133,263
101,802
Inventory
19
36,722
35,595
1,526,260
1,634,795
Non-current assets:
Property and equipment
7
2,487,734
1,985,599
Intangible assets
8
58,691
50,808
Other assets
19
70,778
75,413
Total assets
4,143,463
3,746,615
Liabilities and Shareholders\' Equity
Current liabilities:
Accounts payable and accrued liabilities
19
543,167
460,003
Advance ticket sales
19
551,022
480,947
Non-refundable guest credits
19
46,975
47,859
Current portion of maintenance provisions
9
76,105
34,135
Current portion of long-term debt
10
189,191
164,909
1,406,460
1,187,853
Non-current liabilities:
Maintenance provisions
9
142,411
145,656
Long-term debt
10
689,204
574,139
Other liabilities
19
8,834
9,914
.
1. (TCO A) Below you will find selected information (in millions) .docx
1. (TCO A) Below you will find selected information (in millions) from Coca-Cola Co.’s 2012 Annual Report.
Income Taxes Payable
$471
Short-term Investments and Marketable Securities
8,109
Cash
8,442
Other non-current Liabilities
10,449
Common Stock
1,760
Receivables
4,812
Other Current Assets
2,973
Long-term Investments
10,448
Other Non-current Assets
3,585
Property, Plant and Equipment
23,486
Trademarks
6,527
Other Intangible Assets
20,810
Allowance for Doubtful Accounts
53
Accumulated Depreciation
9,010
Accounts Payable
8,680
Short Term Notes Payable
17,874
Prepaid Expenses
2,781
Other Current Liabilities
796
Long-Term Liabilities
14,736
Paid-in-Capital in Excess of Par Value
11,379
Retained Earnings
55,038
Inventories
3,264
Treasury Stock
35,009
Other information taken from the Annual Report.
Sales Revenue for 2012
$48,017
Cost of Goods Sold for 2012
19,053
Net Income for 2012
9,019
Inventory Balance on 12/31/11
3,092
Net Accounts Receivable Balance on 12/31/11
4,920
Total Assets on 12/31/11
79,974
Equity Balance on 12/31/11
31,921
Required: 1: Using the information provided prepare a Balance Sheet. Separate the current assets from non-current assets and provide a total for each. Also, separate the current liabilities from the non-current liabilities and provide a total for each.
2: Using the Balance Sheet from your answer above, calculate the Current Ratio and Return on common stockholders’ equity. (Points : 36)
Question 2.2. (TCO B) The following selected data was retrieved from the Walmart, Inc. financial statements for the year ending January 31, 2013.
Accounts Payable
$38,080
Accounts Receivable
6,768
Cash
7,781
Common Stock
3,952
Cost of Goods Sold
352,488
Income Tax Expense
7,981
Interest Expense
2,064
Membership Revenues
3,048
Net Sales
466,114
Operating, Selling and Administrative Expenses
88,873
Retained Earnings
72,978
Required: 1: Using the information provided above, prepare a multiple-step income statement.
2: Calculate the Profit Margin, and Gross profit rate for the company. Be sure to provide the formula you are using, show your calculations, and discuss your findings and results.(Points : 36)
Question 3.3. 45. (TCO C) Please review the following real-world Hewlett Packard Statement of Cash flows and address the two questions below.
Cash flow from operating activities
In millions
In millions
For the year ended 2012
For the year ended 2011
Net (loss) earnings
$(12,650)
$7,074
Depreciation and amortization
5,095
4,984
Impairment of goodwill and purchased intangible assets
18,035
885
Stock-based compensation expense
635
685
Provision for doubtful accounts
142
81
Provision for inventory
277
217
Restructuring charges
2,266
645
Deferred taxes on earnings
(711)
166
Excess tax benefit from stock-based competition
(12)
(163)
Other, net
265
(46)
Accounts and financing receivables
1,269
(227)
Inventory
890
(1,252)
Accounts payable
(1,414)
275
Taxes on earnings
(320)
610
Restructuring
(840)
(1,002)
Other asse.
Acct 504 final exam (3 different finals) (devry)
ACCT 504 Final Exam (3 different finals) (Devry)
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(TCO A) Which one of the following is an advantage of corporations.docx
(TCO A) Which one of the following is an advantage of corporations relative to partnerships and sole proprietorships? (Points : 5)
Reduced legal liability for investors
Harder to transfer ownership
Lower taxes
Most common form of organization
Question 2.2. (TCO A) The Dividends account _____. (Points : 5)
appears on the income statement along with the expenses of the business
must show transactions every accounting period
is increased with debits and decreased with credits
is considered a long-term asset of the firm
Question 3.3. (TCOs A, B) Below is a partial list of account balances for Denton Company:
Cash $7,000
Prepaid insurance 700
Accounts receivable 3,500
Accounts payable 2,800
Notes payable 4,200
Common stock 1,400
Dividends 700
Revenues 21,000
Expenses 17,500
What did Denton Company show as total credits? (Points : 5)
$30,100
$29,400
$28,700
$30,800
Question 4.4. (TCOs B, E) Under the accrual basis of accounting, _____. (Points : 5)
cash must be received before revenue is recognized
net income is calculated by matching cash outflows against cash inflows
events that change a company's financial statements are recognized in the period they occur rather than in the period in which cash is paid or received
the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles
Question 5.5. (TCO D) Two companies report the same cost of goods available for sale, but each employs a different inventory costing method. If the price of goods has increased during the period, then the company using _____. (Points : 5)
LIFO will have the highest ending inventory
FIFO will have the highest cost of goods sold
FIFO will have the highest ending inventory
LIFO will have the lowest cost of goods sold
Question 6.6. (TCO A, E) Equipment was purchased for $17,000 on January 1, 2006. Freight charges amounted to $700 and there was a cost of $2,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $3,000 salvage value at the end of its 5-year useful life. What is the amount of accumulated depreciation at December 31, 2007, if the straight-line method of depreciation is used? (Points : 5)
$6,680
$3,340
$2,860
$5,720
Question 7.7. (TCOs D, G) Lopez Corporation issues 500 ten-year, 8%, $1,000 bonds dated January 1, 2007, at 96. The journal entry to record the issuance will show a _____. (Points : 5)
debit to Cash of $500,000
credit to Discount on Bonds Payable for $20,000
credit to Bonds Payable for $480,000
debit to Cash for $480,000
Question 8.8. (TCO C) Accounts receivable arising fro ...
A GUI design elements is a combination of technology and equipment.docx
A GUI design elements is a combination of technology and equipment to provide users with a platform that allows users to interact with it. A series of GUI components follow a visual language to represent the information stored in the computer. The most common elements include a combination of components such as model WIMP (window, icon, menu, pointing device) in the personal computer.
1. (TCO A) An advantage of the corporate form of business is that _____. (Points : 5)
it has limited life
its owner's personal resources are at stake
its ownership is easily transferable via the sale of shares of stock it is simple to establish
2. (TCO A) When a corporation distributes a dividend, _____. (Points : 5)
the most common form of distribution is a cash dividend the Dividends account will be increased with a credit
the Retained Earnings account will be directly increased with a debit the Dividends account will be decreased with a debit
3. (TCOs A, B) Below is a partial list of account balances for Denton Company:
Cash $7,000
Prepaid insurance 700
Accounts receivable 3,500
Accounts payable 2,800
Notes payable 4,200
Common stock 1,400
Dividends 700
Revenues 21,000
Expenses 17,500
What did Denton Company show as total credits? (Points : 5)
$30,100 $29,400 $28,700 $30,800
4. (TCOs B, E) A small and private company may be able to justify using a cash basis of accounting if it has _____. (Points : 5)
sales under $1,000,000 no accountants on staf
insignificant receivables and payables all sales and purchases on account
5. (TCO D) In a period of increasing prices, which inventory cost flow assumption will result in the lowest amount of income tax expense? (Points : 5)
FIFO
LIFO
The average cost method
Income tax expense for the period will be the same under all assumptions.
6. (TCOs A, E) Equipment was purchased for $60,000. Freight charges amounted to $2,800 and there was a cost of $8,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $12,000 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be _____. (Points : 5)
$14,160 $11,760 $9,840 $9,600
7. (TCOs D, G) Lopez Corporation issues 500 ten-year, 8%, $1,000 bonds dated January 1, 2007, at 96. The journal entry to record the issuance will show a _____. (Points : 5)
debit to Cash of $500,000
credit to Discount on Bonds Payable for $20,000 credit to Bonds Payable for $480,000
debit to Cash for $480,000
8. (TCO C) Accounts receivable arising from sales to customers amounted to $35,000 and $40,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was
$120,000. Exclusive of the efect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is _____. (Points : 5)
$120,000 $125,000 $155,000 $115,000
9. (TCO F) Which one of the following is not a tool in fin.
Recommended
Please, I need a correct answer and clear explanation. open image an.pdf
Please, I need a correct answer and clear explanation. open image and zoom for a clear view.
Thanks,
Using the West Jet Financial statements, answer the following questions R1 2-4 p.106-109)
b. Why do you think West Jet does not report a cost of goods sold
c. Explain what “Advanced ticket sales” in the current liabilities section represents
e. How much did West Jet use in 2013 to acquire new aircraft? Which statement did you find this
information on?
RI2-4
(Determination of items from a Canadian company\'s financial statements)
Calgary-based WestJet Airlines Ltd. provides services throughout Canada and to some
international destinations. Excerpts from its 2013 financial statements are in Exhibits 2-19A to 2-
19C.
Exhibit 2-19A WESTJET AIRLINES LTD.\'S 2013 CONSOLIDATED STATEMENT OF
EARNINGS
Consolidated Statement of Earnings
For the years ended December 31
(Stated in thousands of Canadian dollars, except per share amounts)
Note
2013
2012
Revenue:
Guest
3,337,569
3,133,492
Other
324,628
293,917
3,662,197
3,427,409
Operating expenses:
Aircraft fuel
1,039,448
992,787
Airport operations
459,465
424,911
Flight operations and navigational charges
410,052
376,050
Sales and distribution
356,988
333,106
Marketing, general and administration
222,567
202,398
Depreciation and amortization
200,840
185,401
Inflight
176,907
162,633
Aircraft leasing
175,646
173,412
Maintenance
169,197
154,406
Employee profit share
51,577
46,585
3,262,687
3,051,689
Earnings from operations
399,510
375,720
Non-operating income (expense):
Finance income
15
17,848
18,391
Finance cost
15
(43,447)
(48,900)
Gain on foreign exchange
1,136
1,061
Gain (loss) on disposal of property and equipment
(2,962)
469
Loss on fuel derivatives
—
(6,512)
(27,425)
(35,491)
Earnings before income tax
372,085
340,229
Income tax expense (recovery):
Current
154,964
66,230
Deferred
(51,601)
31,607
11
103,363
97,837
Net earnings
268,722
242,392
Exhibit 2-19B WESTJET AIRLINES LTD.\'S 2013 CONSOLIDATED STATEMENT OF
FINANCIAL POSITION
Consolidated Statement of Financial Position
At December 31
(Stated in thousands of Canadian dollars)
Note
2013
2012
Assets
Current assets:
Cash and cash equivalents
5
1,256,005
1,408,199
Restricted cash
6
58,106
51,623
Accounts receivable
19
42,164
37,576
Prepaid expenses, deposits and other
19
133,263
101,802
Inventory
19
36,722
35,595
1,526,260
1,634,795
Non-current assets:
Property and equipment
7
2,487,734
1,985,599
Intangible assets
8
58,691
50,808
Other assets
19
70,778
75,413
Total assets
4,143,463
3,746,615
Liabilities and Shareholders\' Equity
Current liabilities:
Accounts payable and accrued liabilities
19
543,167
460,003
Advance ticket sales
19
551,022
480,947
Non-refundable guest credits
19
46,975
47,859
Current portion of maintenance provisions
9
76,105
34,135
Current portion of long-term debt
10
189,191
164,909
1,406,460
1,187,853
Non-current liabilities:
Maintenance provisions
9
142,411
145,656
Long-term debt
10
689,204
574,139
Other liabilities
19
8,834
9,914
.
1. (TCO A) Below you will find selected information (in millions) .docx
1. (TCO A) Below you will find selected information (in millions) from Coca-Cola Co.’s 2012 Annual Report.
Income Taxes Payable
$471
Short-term Investments and Marketable Securities
8,109
Cash
8,442
Other non-current Liabilities
10,449
Common Stock
1,760
Receivables
4,812
Other Current Assets
2,973
Long-term Investments
10,448
Other Non-current Assets
3,585
Property, Plant and Equipment
23,486
Trademarks
6,527
Other Intangible Assets
20,810
Allowance for Doubtful Accounts
53
Accumulated Depreciation
9,010
Accounts Payable
8,680
Short Term Notes Payable
17,874
Prepaid Expenses
2,781
Other Current Liabilities
796
Long-Term Liabilities
14,736
Paid-in-Capital in Excess of Par Value
11,379
Retained Earnings
55,038
Inventories
3,264
Treasury Stock
35,009
Other information taken from the Annual Report.
Sales Revenue for 2012
$48,017
Cost of Goods Sold for 2012
19,053
Net Income for 2012
9,019
Inventory Balance on 12/31/11
3,092
Net Accounts Receivable Balance on 12/31/11
4,920
Total Assets on 12/31/11
79,974
Equity Balance on 12/31/11
31,921
Required: 1: Using the information provided prepare a Balance Sheet. Separate the current assets from non-current assets and provide a total for each. Also, separate the current liabilities from the non-current liabilities and provide a total for each.
2: Using the Balance Sheet from your answer above, calculate the Current Ratio and Return on common stockholders’ equity. (Points : 36)
Question 2.2. (TCO B) The following selected data was retrieved from the Walmart, Inc. financial statements for the year ending January 31, 2013.
Accounts Payable
$38,080
Accounts Receivable
6,768
Cash
7,781
Common Stock
3,952
Cost of Goods Sold
352,488
Income Tax Expense
7,981
Interest Expense
2,064
Membership Revenues
3,048
Net Sales
466,114
Operating, Selling and Administrative Expenses
88,873
Retained Earnings
72,978
Required: 1: Using the information provided above, prepare a multiple-step income statement.
2: Calculate the Profit Margin, and Gross profit rate for the company. Be sure to provide the formula you are using, show your calculations, and discuss your findings and results.(Points : 36)
Question 3.3. 45. (TCO C) Please review the following real-world Hewlett Packard Statement of Cash flows and address the two questions below.
Cash flow from operating activities
In millions
In millions
For the year ended 2012
For the year ended 2011
Net (loss) earnings
$(12,650)
$7,074
Depreciation and amortization
5,095
4,984
Impairment of goodwill and purchased intangible assets
18,035
885
Stock-based compensation expense
635
685
Provision for doubtful accounts
142
81
Provision for inventory
277
217
Restructuring charges
2,266
645
Deferred taxes on earnings
(711)
166
Excess tax benefit from stock-based competition
(12)
(163)
Other, net
265
(46)
Accounts and financing receivables
1,269
(227)
Inventory
890
(1,252)
Accounts payable
(1,414)
275
Taxes on earnings
(320)
610
Restructuring
(840)
(1,002)
Other asse.
Acct 504 final exam (3 different finals) (devry)
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ACCT 504 Entire Course (Includes All DQs, Project, Case Study, Midterm, Final) (Devry)
ACCT 504 Week 3 Case Study 1 Flower Landscaping Corporation (Devry)
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ACCT 504 Week 4 Midterm Set 2 (Devry)
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ACCT 504 Week 6 Case Study 3 - Cash Budgeting - LBJ Company (Devry)
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(TCO A) Which one of the following is an advantage of corporations.docx
(TCO A) Which one of the following is an advantage of corporations relative to partnerships and sole proprietorships? (Points : 5)
Reduced legal liability for investors
Harder to transfer ownership
Lower taxes
Most common form of organization
Question 2.2. (TCO A) The Dividends account _____. (Points : 5)
appears on the income statement along with the expenses of the business
must show transactions every accounting period
is increased with debits and decreased with credits
is considered a long-term asset of the firm
Question 3.3. (TCOs A, B) Below is a partial list of account balances for Denton Company:
Cash $7,000
Prepaid insurance 700
Accounts receivable 3,500
Accounts payable 2,800
Notes payable 4,200
Common stock 1,400
Dividends 700
Revenues 21,000
Expenses 17,500
What did Denton Company show as total credits? (Points : 5)
$30,100
$29,400
$28,700
$30,800
Question 4.4. (TCOs B, E) Under the accrual basis of accounting, _____. (Points : 5)
cash must be received before revenue is recognized
net income is calculated by matching cash outflows against cash inflows
events that change a company's financial statements are recognized in the period they occur rather than in the period in which cash is paid or received
the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles
Question 5.5. (TCO D) Two companies report the same cost of goods available for sale, but each employs a different inventory costing method. If the price of goods has increased during the period, then the company using _____. (Points : 5)
LIFO will have the highest ending inventory
FIFO will have the highest cost of goods sold
FIFO will have the highest ending inventory
LIFO will have the lowest cost of goods sold
Question 6.6. (TCO A, E) Equipment was purchased for $17,000 on January 1, 2006. Freight charges amounted to $700 and there was a cost of $2,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $3,000 salvage value at the end of its 5-year useful life. What is the amount of accumulated depreciation at December 31, 2007, if the straight-line method of depreciation is used? (Points : 5)
$6,680
$3,340
$2,860
$5,720
Question 7.7. (TCOs D, G) Lopez Corporation issues 500 ten-year, 8%, $1,000 bonds dated January 1, 2007, at 96. The journal entry to record the issuance will show a _____. (Points : 5)
debit to Cash of $500,000
credit to Discount on Bonds Payable for $20,000
credit to Bonds Payable for $480,000
debit to Cash for $480,000
Question 8.8. (TCO C) Accounts receivable arising fro ...
A GUI design elements is a combination of technology and equipment.docx
A GUI design elements is a combination of technology and equipment to provide users with a platform that allows users to interact with it. A series of GUI components follow a visual language to represent the information stored in the computer. The most common elements include a combination of components such as model WIMP (window, icon, menu, pointing device) in the personal computer.
1. (TCO A) An advantage of the corporate form of business is that _____. (Points : 5)
it has limited life
its owner's personal resources are at stake
its ownership is easily transferable via the sale of shares of stock it is simple to establish
2. (TCO A) When a corporation distributes a dividend, _____. (Points : 5)
the most common form of distribution is a cash dividend the Dividends account will be increased with a credit
the Retained Earnings account will be directly increased with a debit the Dividends account will be decreased with a debit
3. (TCOs A, B) Below is a partial list of account balances for Denton Company:
Cash $7,000
Prepaid insurance 700
Accounts receivable 3,500
Accounts payable 2,800
Notes payable 4,200
Common stock 1,400
Dividends 700
Revenues 21,000
Expenses 17,500
What did Denton Company show as total credits? (Points : 5)
$30,100 $29,400 $28,700 $30,800
4. (TCOs B, E) A small and private company may be able to justify using a cash basis of accounting if it has _____. (Points : 5)
sales under $1,000,000 no accountants on staf
insignificant receivables and payables all sales and purchases on account
5. (TCO D) In a period of increasing prices, which inventory cost flow assumption will result in the lowest amount of income tax expense? (Points : 5)
FIFO
LIFO
The average cost method
Income tax expense for the period will be the same under all assumptions.
6. (TCOs A, E) Equipment was purchased for $60,000. Freight charges amounted to $2,800 and there was a cost of $8,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $12,000 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be _____. (Points : 5)
$14,160 $11,760 $9,840 $9,600
7. (TCOs D, G) Lopez Corporation issues 500 ten-year, 8%, $1,000 bonds dated January 1, 2007, at 96. The journal entry to record the issuance will show a _____. (Points : 5)
debit to Cash of $500,000
credit to Discount on Bonds Payable for $20,000 credit to Bonds Payable for $480,000
debit to Cash for $480,000
8. (TCO C) Accounts receivable arising from sales to customers amounted to $35,000 and $40,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was
$120,000. Exclusive of the efect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is _____. (Points : 5)
$120,000 $125,000 $155,000 $115,000
9. (TCO F) Which one of the following is not a tool in fin.
3. (TCO C) Please review the following real-world Hewlett Packard .docx
3. (TCO C) Please review the following real-world Hewlett Packard Statement of Cash flows and address the two questions below:
Cash flow from operating activities
In millions
In millions
For the year ended 2012
For the year ended 2011
Net (loss) earnings
$(12,650)
$7,074
Depreciation and amortization
5,095
4,984
Impairment of goodwill and purchased intangible assets
18,035
885
Stock-based compensation expense
635
685
Provision for doubtful accounts
142
81
Provision for inventory
277
217
Restructuring charges
2,266
645
Deferred taxes on earnings
(711)
166
Excess tax benefit from stock-based competition
(12)
(163)
Other, net
265
(46)
Accounts and financing receivables
1,269
(227)
Inventory
890
(1,252)
Accounts payable
(1,414)
275
Taxes on earnings
(320)
610
Restructuring
(840)
(1,002)
Other assets and liabilities
(2,356)
(293)
Net cash provided by operating activities
10,571
12,639
Cash flows from investing activities:
Investment in property, plant, and equipment
(3,706)
(4,539)
Proceeds from sale of property, plant, and equipment
617
999
Purchases of available-for-sale securities and other investments
(972)
(96)
Maturities and sales of available-for-sale securities and other investment
662
68
Payments in connection with business acquisitions, net of cash acquired
(141)
(10,480)
Proceeds from business divestiture, net
87
89
Net cash used in investing activities
(3,453)
(13,959)
Cash flow from financing activities:
(Payments) issuance of commercial paper and notes payable, net
(2,775)
(1,270)
Issuance of debt
5,154
11,942
Payment of debt
(4,333)
(2,336)
Issuance of common stock under employee stock plans
716
896
Repurchase of common stock
(1,619)
(10,117)
Excess tax benefit from stock-based compensation
12
163
Cash dividends paid
(1,015)
(844)
Net cash used in financing activities
(3,860)
(1,566)
Increase (decrease) in cash and cash equivalents
3,258
(2,886)
Cash and cash equivalents at beginning of period
8,043
10,929
Cash and cash equivalents at end of period
$11,301
$8,043
Required:
1) Please calculate the percentage increase or decrease in cash for the total line of the operating, investing, and financing sections bolded above and explain the major reasons for the increase or decrease for each of these sections.
2) Please calculate the free cash flow for 2012 and explain the meaning of this ratio.
4. You are CFO of Goforit, Inc., a wholesale distribution company specializing in emerging technologies. Your CEO is a brilliant marketer, but relies on you to explain issues and choices in accounting and finance. She has heard from other members of a CEO organization to which she belongs that a company’s net income can vary widely depending on which accounting choices are made from the “GAAP menu.”
Assuming the goal is to maximize net income, choose an accounting treatment from each of the following scenarios, and explain to your CEO why the choice will produce the desired effect on reported Net Incom.
BTE 302TEST 1NameCMR 302Test IAnswer the Following.docx
BTE 302
TEST 1
Name:
CMR 302
Test I
Answer the Following
1. What are the five accounting classifications?
2. What accounting classifications are displayed on the Balance Sheet?
3. Give two examples of a Current Asset
4. What type of an asset is the account Patent?
5. What is the definition of non-current asset?
6. Classify the account Notes Payable (90 days).
7. How do you calculate Gross Profit
8. How do you calculate Operating Income?
9. List an example of a non-operating income.
10. What classification is the account Retained Earnings?
Circle the Correct Answer. SHOW YOUR WORK Where Required
1. Gilbert, Inc. had the following account balances at September 30, 2010. What is Gilbert's net income for the month of September?
Cost of Sales 10,000
Cash 14,300
Equipment 15,400
Fees Earned 54,400
Miscellaneous Expense 18,200
Rent Expense 2,000
Retained Earnings 6,550
Wages Expense 13,900
a) $32,450
b) $10,300 SHOW YOUR WORK
c) $20,300
d) $1 8, 1 50
2. Sales = $10,000, Cost of Sales = $4,000, Operating Expenses = $ 1,000, Other Expenses = $ 2,000. What is the Gross Profit?
___________________________ SHOW YOUR WORK
3. NBC Company had $32,000 in net sales, $15,000 in cost of merchandise sold, $18,000 in operating expenses, and $2,000 in other income. What is NBC Company's operating profit?
a) $17,000
b) $3,000 SHOW YOUR WORK
c) $1,000
d) ($1, 000)
4. Expenses that CANNOT be traced directly to operations are identified as
a) Other income.
b) Operating expenses.
c) Cost of goods sold.
d) Other expenses.
5. On the Statement of Cash Flows, where is the purchase of property, plant and equipment recorded?
____________________________
6. On the Statement of Cash Flows, where are dividends recorded?
_____________________________
7. Assets = $ 13,000 Equity = $ 4,000 Liabilities = __________________
8. Liabilities = 4,000 Assets = $ 8,000 Equity = __________________
The Economy (Fill-In)
1. Which indicator is the best indicator of consumer inflation?
2. Which indicator measures employee hourly wages?
3. Which indicator is a leading indicator of economic growth
4. What can an increase in inventories mean?
5. Which economic theory believes that the government should intervene during a fiscal crisis?
Domino's Pizza (Fill-In)
Use the Domino's Pizza Statement of Cash Flows listed below to answer the following questions.
Omit trailing zeros when entering data. Use brackets ( ) to indicate cash used in the statement.
1. 2012 Cash Flow from Operations
2. 2013 Cash Flow from Investing
3. 2014 Cash Flow from Financing
4. What was the primary Investing activity and the amount for 2013?
5. What was the primary Financing activity and the amount for 2012?
6. The company borrowed funds in 2013 T F
7. The company paid dividends in 2012 T F
8. The company had a positive cash flow from Financing in 2013: T F
9. What was the highest amount borrowed over the three year period?
Domino's Pizza, Inc. (DPZ)
110.77 1.05(0.94%)
Period Ending
D.
FE - 8Test Bank for Financial Accounting Tools for Business Dec.docx
FE - 8
Test Bank for Financial Accounting: Tools for Business Decision Making, Sixth Edition
FE - 7
Final Exam
Instructions: Designate the best answer for each of the following questions.
Questions 1 and 2 are based on the following information:
Poin Company recently incurred the following costs:
(1)Purchase price of land and dilapidated building$330,000
(2)Real estate broker's commission14,000
(3)Net demolition costs of dilapidated building42,000
(4)Excavation costs for new building44,000
(5)Architect's fees and building permits35,000
(6)Costs associated with new building construction1,130,000
(7)Costs associated with new furniture and equipment250,000
(8)Actual interest costs during building construction135,000
(9)Actual interest cost after completion of building construction120,000
(10)Costs of walks, driveways, and parking lot55,000
____1.The building should be recorded on Poin's books at:
a.$1,344,000.
b.$1,519,000.
c.$1,130,000.
d.$1,464,000.
____2.Land should be recorded on Poin's books at:
a.$330,000.
b.$386,000.
c.$372,000.
d.$430,000.
____3.Benson Supply bought equipment at a cost of $72,000 on January 2, 2008. It originally had an estimated life of ten years and a salvage value of $12,000. Benson uses the straight-line depreciation method. On December 31, 2012, Benson decided the useful life likely would end on December 31, 2013, with a salvage value of $6,000. The depreciation expense recorded on December 31, 2012, should be:
a.$6,000.
b.$21,000.
c.$12,000.
d.$10,500.
____4.In order to be relevant, accounting information must:
a.be neutral.
b.be verifiable.
c.help predict future events.
d.be a faithful representation.
____5.Gordan Company sold old equipment for $40,000. The equipment had a cost of $100,000 and accumulated depreciation of $50,000. The entry to record the sale of the equipment would include a:
a.loss on disposal of $40,000.
b.gain on disposal of $40,000.
c.loss on disposal of $10,000.
d.gain on disposal of $10,000.
____6.The cost of intangible assets should be:
a.amortized over the assets' estimated useful life, or its legal life, whichever is shorter.
b.amortized over a period not exceeding 5 years.
c.amortized over the assets' estimated useful life.
d.charged to an expense account at acquisition.
____7.In a period of rising prices, the inventory method that results in the lowest income tax payment is:
a.LIFO.
b.FIFO.
c.average cost.
d.specific identification.
____8.On November 30, Thatcher Company issued a $12,000, 6%, 6-month note to the National Bank. The entry on Thatcher's books to record the payment of the note at maturity will include a credit to Cash for:
a.$12,000.
b.$12,720.
c.$12,180.
d.$12,360.
____9.The inventory methods that result in the most current costs in the income statement and balance sheet are:
Income StatementBalance Sheet
a.FIFOFIFO
b.LIFOFIFO
c.LIFOLIFO
d.FIFOLIFO
____10.The following information is available for Brighten Company:
Sales$130,000Freight-in$10,000
Ending Merch ...
ACC00724 (Accounting for Managers) S3, 2014ASSIGNMENT 1 (30 MA.docx
ACC00724 (Accounting for Managers) S3, 2014
ASSIGNMENT 1 (30 MARKS)
Question 1
Total marks for Q1. (20 marks)
Financial statements of Nimbin Pty Ltd are presented below:
Nimbin P/L
Statement of Financial Position
As at 30 June 2013 and 2014
($000)
20142013
Current assets
Cash and cash equivalents
$1,645
$2,110
Accounts receivables (all trades)
4,100
3,675
Inventories
7,000
6,930
______
_____
Total current assets
12,745
12,715
______
______
Non-current assets
Property, plant and equipment
17,190
15,330
_______
______
Total non-current assets
17,190
15,330
_______
_______
Total assets
$29,935
$28,045
=======
======
Current liabilities
Payables
$5,780
$5,990
_______
______
Total current liabilities
5,780
5,990
_______
______
Non-current liabilities
Interest-bearing liabilities
9,940
9,450
_______
_____
Total non-current liabilities
9,940
9,450
_______
_______
Total liabilities
$15,720
$15,440
======
======
Equity
Share capital
$7,700
$7,700
Retained earnings
6,515
4,905
_______
_______
Total equity
$14,215
$12,605
======
======
Nimbin P/L
Income Statement
As at 30 June 2014
($000)
Revenues (net sales)
$55,000
Less: cost of sales
35,100
_______
Gross profit
19,900
_______
Less: Expenses
Selling and distribution expenses
7,100
Administrative expenses
4,970
Finance costs
1,560
______
Total expenses
13,630
______
Profit before income tax
6,270
Income tax expense
1,908
______
Profit
$4,362
=====
Nimbin P/L
Statement of changes in Equity
For the year ended 30 June 2014
($000)
Share capital
Ordinary (7,200.000 shares)
Balance at start of period
$7,200
______
Balance at end of period
7,200
_______
Preference (250,000 shares)
Balance at start of period
500
______
Balance at end of period
500
______
Total share capital
$7,700
======
Retained Earnings
Balance at start of period
$4,905
Total income for the period
4,362
Dividends paid – ordinary
(2,702)
Dividends paid – preference
(50)
______
Balance at end of period
$6,515
======
Additional information:
Payables include $5,620 (2014) and $5,730 (2013) trade accounts payable; the remainder is accrued expenses. Market prices of issued shares at year-end (2014): Ordinary $12; Preference $6.70.
Required:
A. Calculate the following ratios for 2014. The industry average for similar businesses is shown. (14 marks)
Industry average
1. Rate of return on total assets
22%
2. Rate of return on ordinary equity
20%
3. Profit margin
4%
4. Earnings per share
45c
5. Price-earnings ratio
12.0
6. Dividend yield
5%
7. Dividend payout
70%
8. Current .
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. ...
The Howit Department store is located in midtown Metro.During th.docx
The Howit Department store is located in midtown Metro.
During the past several years, net income has been declining because of suburban shopping centers.
At the close of the year ended
December 31,2007, the following accounts appeared in two of its trial balances.
.
Trial Balances
Unadjusted
Adjusted
Difference Increase/(Decrease)
Accounts Payable
$37,310
$37,310
$0
Accounts Receivable
12,770
12,770
0
Accumulated Depreciation-Delivery Equipment
15,680
19,680
4,000
Accumulated Depreciation-Store Equipment
32,300
41,800
9,500
Cash
7,000
7,000
0
Delivery Expense
8,200
8,200
0
Delivery Equipment
57,000
57,000
0
Depreciation Expense-Delivery Equipment
4,000
4,000
Depreciation Expense-Store Equipment
9,500
9,500
Freight-in
5,060
5,060
0
Common Stock
70,000
70,000
0
Retained Earnings
14,200
14,200
0
Dividends
12,000
12,000
0
Insurance Expense
9,000
9,000
Interest Expense
8,000
8,000
0
Interest Revenue
5,000
5,000
0
Merchandise Inventory
34,360
34,360
0
Notes Payable
46,000
46,000
0
Prepaid Insurance
13,500
4,500
(9,000)
Property Tax Expense
3,500
3,500
Purchases
640,000
640,000
0
Purchase Discounts
7,000
7,000
0
Purchase Returns and Allowances
3,000
3,000
0
Rent Expense
19,600
19,600
0
Salaries Expense
120,000
120,000
0
Sales
860,000
860,000
0
Sales Commissions Expense
8,000
14,000
6,000
Sales Commissions Payable
6,000
6,000
Sales Returns and Allowances
10,000
10,000
0
Store Equipment
125,000
125,000
0
Property Taxes Payable
3,500
3,500
Utilities Expense
10,000
10,000
0
Analysis
reveals
the following additional data:
1.
Salaries expense is
70%
selling and
30%
administrative.
2.
Insurance expense is
50%
selling and
50%
administrative.
3.
A physical inventory was conduced for year ended December 31, 2007 and the inventory was valued at $36,200.
4.
Rent expense, utilities expense, and property tax expense are administrative expenses.
5.
$10,000 of the Notes payable is due for payment next year.
6.
The beginning balance of accounts receivable is $10,750.
7.
The amount of total assets at the beginning of the year is $198,275.
Instructions
1)
Journalize the adjusting entries that were made by the company.
2)
Prepare a multiple-step income statement and a retained earnings statement for the year and a classified balance sheet as of December 31, 2007.
3)
Journalize the closing entries.
4)
Prepare a post-closing trial balance.
5)
Prepare the following ratios and show all support for your 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 a.
Problem 12-9AYour answer is partially correct. Try again..docx
Problem 12-9A
Your answer is partially correct. Try again.
Condensed financial data of Odgers Inc. follow.
ODGERS INC.Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 131,704
$ 78,892
Accounts receivable
143,114
61,940
Inventory
183,375
167,646
Prepaid expenses
46,292
42,380
Long-term investments
224,940
177,670
Plant assets
464,550
395,275
Accumulated depreciation
(81,500
)
(84,760
)
Total
$1,112,475
$839,043
Liabilities and Stockholders’ Equity
Accounts payable
$ 166,260
$ 109,699
Accrued expenses payable
26,895
34,230
Bonds payable
179,300
237,980
Common stock
358,600
285,250
Retained earnings
381,420
171,884
Total
$1,112,475
$839,043
ODGERS INC.Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$633,190
Less:
Cost of goods sold
$220,800
Operating expenses, excluding depreciation
20,228
Depreciation expense
75,795
Income tax expense
44,466
Interest expense
7,710
Loss on disposal of plant assets
12,225
381,224
Net income
$ 251,966
Additional information:
1.
New plant assets costing $163,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $93,725 and accumulated depreciation of $79,055 were sold for $2,445 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $42,430 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
$
$
Problem 12-10A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 151,904
$ 90,992
Accounts receivable
165,064
71,440
Inventory
211,500
193,358
Prepaid expenses
53,392
48,880
Long-term investments
259,440
204,920
Plant assets
535,800
455,900
Accumulated depreciation
(94,000
)
(97,760
)
Total
$1,283,100
$967,730
Liabilities and Stockholders’ Equity
Accounts payable
$ 191,760
$ 126,524
Accrued expenses payable
31,020
39,480
Bonds payable
206,800
274,480
Common stock
413,600
329,000
Retained earnings
439,920
198,246
Total
$1,283,100
$967,730
ODGERS INC.Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$730,305
Less:
Cost of goods sold
$254,665
Operating expenses, excluding depreciation
23,331
Depreciation expense
87,420
Income taxes
51,286
Interest expense
8,892
Loss on disposal of plant assets
14,100
439,694
Net income
$ 290,611
Additional information:
1.
New plant assets costing $188,000 were purchased for c.
#1Listed below are items that are commonly accounted for differe.docx
#1
Listed below are items that are commonly accounted for differently for financial reporting purposes than they are for tax purposes.
For each item below, indicate whether it involves:
(1)
A temporary difference that will result in future deductible amounts and, therefore, will usually give rise to a deferred income tax asset.
(2)
A temporary difference that will result in future taxable amounts and, therefore, will usually give rise to a deferred income tax liability.
(3)
A permanent difference.
Use the appropriate number to indicate your answer for each.
(a)
The MACRS depreciation system is used for tax purposes, and the straight-line depreciation method is used for financial reporting purposes for some plant assets.
(b)
A landlord collects some rents in advance. Rents received are taxable in the period when they are received.
(c)
Expenses are incurred in obtaining tax-exempt income.
(d)
Costs of guarantees and warranties are estimated and accrued for financial reporting purposes.
(e)
Installment sales of investments are accounted for by the accrual method for financial reporting purposes and the installment method for tax purposes.
(f)
Interest is received on an investment in tax-exempt municipal obligations.
(g)
For some assets, straight-line depreciation is used for both financial reporting purposes and tax purposes, but the assets’ lives are shorter for tax purposes.
(h)
Proceeds are received from a life insurance company because of the death of a key officer. (The company carries a policy on key officers.)
(i)
The tax return reports a deduction for 80% of the dividends received from U.S. corporations. The cost method is used in accounting for the related investments for financial reporting purposes.
(j)
Estimated losses on pending lawsuits and claims are accrued for books. These losses are taxdeductible in the period(s) when the related liabilities are settled.
(k)
Expenses on stock options are accrued for financial reporting purposes.
-----------------------------------------------------------------------------------------------------
#2
The pretax financial income (or loss) figures for Synergetics Company are as follows.
2008
$163,400
2009
254,800
2010
87,200
2011
(163,400
)
2012
(392,300
)
2013
130,100
2014
113,900
Pretax financial income (or loss) and taxable income (loss) were the same for all years involved. Assume a 45% tax rate for 2008 and 2009 and a 40% tax rate for the remaining years.
Prepare the journal entries for the years 2010 to 2014 to record income tax expense and the effects of the net operating loss carrybacks, and carryforwards, assuming Synergetics Company uses the carryback provision. All income and losses relate to normal operations. (In recording the benefits of a loss carryforward, assume that no valuation account is deemed necessary.)
(Credit account titles are automatically indented when amount is entered. Do not inde.
Mc Donald Financial Analysis Project
This is a financial analysis of Mc Donald during 2008 to 2014 .
Grey Modern Professional Business Project Presentation_20240426_104307_0000.pptx
BUSINEESS PROPESSINONAL GEY MORDRAEN
Men with a mutation that effects microtubules will have a build up of.pdf
Men with a mutation that effects microtubules will have a build up of fluid in their lungs, and
they will be sterile because their sperm cells cannot swim. Why would a defect in microtubules
have such different and yet specific effects?
Solution
Microtubules are filamentous intracellular structures that are responsible for various kinds of
movements in all eukaryotic cells. Microtubules are involved in nucleic and cell division,
organization of intracellular structure, and intracellular transport, as well as ciliary and flagellar
motility.Motile cilia include ependymal cilia in the brain that are responsible for circulating
cerebrospinal fluid, and respiratory cilia that move mucus and inhaled particulate matter up and
out of the lungs. Following ejaculation, millions of motile sperm use their flagella to swim
through the uterus and up into the oviducts. As the sperm cells move through the oviduct, they
encounter a flow oriented against their direction of movement generated by oviduct cilia
sweeping the ovum from the ovary toward the uterus.After mutation, all these got altered and
hence, a defect in microtubules have such different and specific effects..
Large corporations may obtain funds for operations and expansion A. t.pdf
Large corporations may obtain funds for operations and expansion A. through direct finance
when stocks are sold in secondary markets. OB. by reinvesting profits. OC. through direct
finance when loans are made by banks OD. through indirect finance when bonds are sold in
secondary markets. E. all of the above.
Solution
1. E
2. D
3. A
4. E
5. E
5. D
7. True
8.E
9. A
10. B
By,
Nishant Bhatt.
More Related Content
Similar to Please, I need correct answers and clear explanation of the followin.pdf
3. (TCO C) Please review the following real-world Hewlett Packard .docx
3. (TCO C) Please review the following real-world Hewlett Packard Statement of Cash flows and address the two questions below:
Cash flow from operating activities
In millions
In millions
For the year ended 2012
For the year ended 2011
Net (loss) earnings
$(12,650)
$7,074
Depreciation and amortization
5,095
4,984
Impairment of goodwill and purchased intangible assets
18,035
885
Stock-based compensation expense
635
685
Provision for doubtful accounts
142
81
Provision for inventory
277
217
Restructuring charges
2,266
645
Deferred taxes on earnings
(711)
166
Excess tax benefit from stock-based competition
(12)
(163)
Other, net
265
(46)
Accounts and financing receivables
1,269
(227)
Inventory
890
(1,252)
Accounts payable
(1,414)
275
Taxes on earnings
(320)
610
Restructuring
(840)
(1,002)
Other assets and liabilities
(2,356)
(293)
Net cash provided by operating activities
10,571
12,639
Cash flows from investing activities:
Investment in property, plant, and equipment
(3,706)
(4,539)
Proceeds from sale of property, plant, and equipment
617
999
Purchases of available-for-sale securities and other investments
(972)
(96)
Maturities and sales of available-for-sale securities and other investment
662
68
Payments in connection with business acquisitions, net of cash acquired
(141)
(10,480)
Proceeds from business divestiture, net
87
89
Net cash used in investing activities
(3,453)
(13,959)
Cash flow from financing activities:
(Payments) issuance of commercial paper and notes payable, net
(2,775)
(1,270)
Issuance of debt
5,154
11,942
Payment of debt
(4,333)
(2,336)
Issuance of common stock under employee stock plans
716
896
Repurchase of common stock
(1,619)
(10,117)
Excess tax benefit from stock-based compensation
12
163
Cash dividends paid
(1,015)
(844)
Net cash used in financing activities
(3,860)
(1,566)
Increase (decrease) in cash and cash equivalents
3,258
(2,886)
Cash and cash equivalents at beginning of period
8,043
10,929
Cash and cash equivalents at end of period
$11,301
$8,043
Required:
1) Please calculate the percentage increase or decrease in cash for the total line of the operating, investing, and financing sections bolded above and explain the major reasons for the increase or decrease for each of these sections.
2) Please calculate the free cash flow for 2012 and explain the meaning of this ratio.
4. You are CFO of Goforit, Inc., a wholesale distribution company specializing in emerging technologies. Your CEO is a brilliant marketer, but relies on you to explain issues and choices in accounting and finance. She has heard from other members of a CEO organization to which she belongs that a company’s net income can vary widely depending on which accounting choices are made from the “GAAP menu.”
Assuming the goal is to maximize net income, choose an accounting treatment from each of the following scenarios, and explain to your CEO why the choice will produce the desired effect on reported Net Incom.
BTE 302TEST 1NameCMR 302Test IAnswer the Following.docx
BTE 302
TEST 1
Name:
CMR 302
Test I
Answer the Following
1. What are the five accounting classifications?
2. What accounting classifications are displayed on the Balance Sheet?
3. Give two examples of a Current Asset
4. What type of an asset is the account Patent?
5. What is the definition of non-current asset?
6. Classify the account Notes Payable (90 days).
7. How do you calculate Gross Profit
8. How do you calculate Operating Income?
9. List an example of a non-operating income.
10. What classification is the account Retained Earnings?
Circle the Correct Answer. SHOW YOUR WORK Where Required
1. Gilbert, Inc. had the following account balances at September 30, 2010. What is Gilbert's net income for the month of September?
Cost of Sales 10,000
Cash 14,300
Equipment 15,400
Fees Earned 54,400
Miscellaneous Expense 18,200
Rent Expense 2,000
Retained Earnings 6,550
Wages Expense 13,900
a) $32,450
b) $10,300 SHOW YOUR WORK
c) $20,300
d) $1 8, 1 50
2. Sales = $10,000, Cost of Sales = $4,000, Operating Expenses = $ 1,000, Other Expenses = $ 2,000. What is the Gross Profit?
___________________________ SHOW YOUR WORK
3. NBC Company had $32,000 in net sales, $15,000 in cost of merchandise sold, $18,000 in operating expenses, and $2,000 in other income. What is NBC Company's operating profit?
a) $17,000
b) $3,000 SHOW YOUR WORK
c) $1,000
d) ($1, 000)
4. Expenses that CANNOT be traced directly to operations are identified as
a) Other income.
b) Operating expenses.
c) Cost of goods sold.
d) Other expenses.
5. On the Statement of Cash Flows, where is the purchase of property, plant and equipment recorded?
____________________________
6. On the Statement of Cash Flows, where are dividends recorded?
_____________________________
7. Assets = $ 13,000 Equity = $ 4,000 Liabilities = __________________
8. Liabilities = 4,000 Assets = $ 8,000 Equity = __________________
The Economy (Fill-In)
1. Which indicator is the best indicator of consumer inflation?
2. Which indicator measures employee hourly wages?
3. Which indicator is a leading indicator of economic growth
4. What can an increase in inventories mean?
5. Which economic theory believes that the government should intervene during a fiscal crisis?
Domino's Pizza (Fill-In)
Use the Domino's Pizza Statement of Cash Flows listed below to answer the following questions.
Omit trailing zeros when entering data. Use brackets ( ) to indicate cash used in the statement.
1. 2012 Cash Flow from Operations
2. 2013 Cash Flow from Investing
3. 2014 Cash Flow from Financing
4. What was the primary Investing activity and the amount for 2013?
5. What was the primary Financing activity and the amount for 2012?
6. The company borrowed funds in 2013 T F
7. The company paid dividends in 2012 T F
8. The company had a positive cash flow from Financing in 2013: T F
9. What was the highest amount borrowed over the three year period?
Domino's Pizza, Inc. (DPZ)
110.77 1.05(0.94%)
Period Ending
D.
FE - 8Test Bank for Financial Accounting Tools for Business Dec.docx
FE - 8
Test Bank for Financial Accounting: Tools for Business Decision Making, Sixth Edition
FE - 7
Final Exam
Instructions: Designate the best answer for each of the following questions.
Questions 1 and 2 are based on the following information:
Poin Company recently incurred the following costs:
(1)Purchase price of land and dilapidated building$330,000
(2)Real estate broker's commission14,000
(3)Net demolition costs of dilapidated building42,000
(4)Excavation costs for new building44,000
(5)Architect's fees and building permits35,000
(6)Costs associated with new building construction1,130,000
(7)Costs associated with new furniture and equipment250,000
(8)Actual interest costs during building construction135,000
(9)Actual interest cost after completion of building construction120,000
(10)Costs of walks, driveways, and parking lot55,000
____1.The building should be recorded on Poin's books at:
a.$1,344,000.
b.$1,519,000.
c.$1,130,000.
d.$1,464,000.
____2.Land should be recorded on Poin's books at:
a.$330,000.
b.$386,000.
c.$372,000.
d.$430,000.
____3.Benson Supply bought equipment at a cost of $72,000 on January 2, 2008. It originally had an estimated life of ten years and a salvage value of $12,000. Benson uses the straight-line depreciation method. On December 31, 2012, Benson decided the useful life likely would end on December 31, 2013, with a salvage value of $6,000. The depreciation expense recorded on December 31, 2012, should be:
a.$6,000.
b.$21,000.
c.$12,000.
d.$10,500.
____4.In order to be relevant, accounting information must:
a.be neutral.
b.be verifiable.
c.help predict future events.
d.be a faithful representation.
____5.Gordan Company sold old equipment for $40,000. The equipment had a cost of $100,000 and accumulated depreciation of $50,000. The entry to record the sale of the equipment would include a:
a.loss on disposal of $40,000.
b.gain on disposal of $40,000.
c.loss on disposal of $10,000.
d.gain on disposal of $10,000.
____6.The cost of intangible assets should be:
a.amortized over the assets' estimated useful life, or its legal life, whichever is shorter.
b.amortized over a period not exceeding 5 years.
c.amortized over the assets' estimated useful life.
d.charged to an expense account at acquisition.
____7.In a period of rising prices, the inventory method that results in the lowest income tax payment is:
a.LIFO.
b.FIFO.
c.average cost.
d.specific identification.
____8.On November 30, Thatcher Company issued a $12,000, 6%, 6-month note to the National Bank. The entry on Thatcher's books to record the payment of the note at maturity will include a credit to Cash for:
a.$12,000.
b.$12,720.
c.$12,180.
d.$12,360.
____9.The inventory methods that result in the most current costs in the income statement and balance sheet are:
Income StatementBalance Sheet
a.FIFOFIFO
b.LIFOFIFO
c.LIFOLIFO
d.FIFOLIFO
____10.The following information is available for Brighten Company:
Sales$130,000Freight-in$10,000
Ending Merch ...
ACC00724 (Accounting for Managers) S3, 2014ASSIGNMENT 1 (30 MA.docx
ACC00724 (Accounting for Managers) S3, 2014
ASSIGNMENT 1 (30 MARKS)
Question 1
Total marks for Q1. (20 marks)
Financial statements of Nimbin Pty Ltd are presented below:
Nimbin P/L
Statement of Financial Position
As at 30 June 2013 and 2014
($000)
20142013
Current assets
Cash and cash equivalents
$1,645
$2,110
Accounts receivables (all trades)
4,100
3,675
Inventories
7,000
6,930
______
_____
Total current assets
12,745
12,715
______
______
Non-current assets
Property, plant and equipment
17,190
15,330
_______
______
Total non-current assets
17,190
15,330
_______
_______
Total assets
$29,935
$28,045
=======
======
Current liabilities
Payables
$5,780
$5,990
_______
______
Total current liabilities
5,780
5,990
_______
______
Non-current liabilities
Interest-bearing liabilities
9,940
9,450
_______
_____
Total non-current liabilities
9,940
9,450
_______
_______
Total liabilities
$15,720
$15,440
======
======
Equity
Share capital
$7,700
$7,700
Retained earnings
6,515
4,905
_______
_______
Total equity
$14,215
$12,605
======
======
Nimbin P/L
Income Statement
As at 30 June 2014
($000)
Revenues (net sales)
$55,000
Less: cost of sales
35,100
_______
Gross profit
19,900
_______
Less: Expenses
Selling and distribution expenses
7,100
Administrative expenses
4,970
Finance costs
1,560
______
Total expenses
13,630
______
Profit before income tax
6,270
Income tax expense
1,908
______
Profit
$4,362
=====
Nimbin P/L
Statement of changes in Equity
For the year ended 30 June 2014
($000)
Share capital
Ordinary (7,200.000 shares)
Balance at start of period
$7,200
______
Balance at end of period
7,200
_______
Preference (250,000 shares)
Balance at start of period
500
______
Balance at end of period
500
______
Total share capital
$7,700
======
Retained Earnings
Balance at start of period
$4,905
Total income for the period
4,362
Dividends paid – ordinary
(2,702)
Dividends paid – preference
(50)
______
Balance at end of period
$6,515
======
Additional information:
Payables include $5,620 (2014) and $5,730 (2013) trade accounts payable; the remainder is accrued expenses. Market prices of issued shares at year-end (2014): Ordinary $12; Preference $6.70.
Required:
A. Calculate the following ratios for 2014. The industry average for similar businesses is shown. (14 marks)
Industry average
1. Rate of return on total assets
22%
2. Rate of return on ordinary equity
20%
3. Profit margin
4%
4. Earnings per share
45c
5. Price-earnings ratio
12.0
6. Dividend yield
5%
7. Dividend payout
70%
8. Current .
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. ...
The Howit Department store is located in midtown Metro.During th.docx
The Howit Department store is located in midtown Metro.
During the past several years, net income has been declining because of suburban shopping centers.
At the close of the year ended
December 31,2007, the following accounts appeared in two of its trial balances.
.
Trial Balances
Unadjusted
Adjusted
Difference Increase/(Decrease)
Accounts Payable
$37,310
$37,310
$0
Accounts Receivable
12,770
12,770
0
Accumulated Depreciation-Delivery Equipment
15,680
19,680
4,000
Accumulated Depreciation-Store Equipment
32,300
41,800
9,500
Cash
7,000
7,000
0
Delivery Expense
8,200
8,200
0
Delivery Equipment
57,000
57,000
0
Depreciation Expense-Delivery Equipment
4,000
4,000
Depreciation Expense-Store Equipment
9,500
9,500
Freight-in
5,060
5,060
0
Common Stock
70,000
70,000
0
Retained Earnings
14,200
14,200
0
Dividends
12,000
12,000
0
Insurance Expense
9,000
9,000
Interest Expense
8,000
8,000
0
Interest Revenue
5,000
5,000
0
Merchandise Inventory
34,360
34,360
0
Notes Payable
46,000
46,000
0
Prepaid Insurance
13,500
4,500
(9,000)
Property Tax Expense
3,500
3,500
Purchases
640,000
640,000
0
Purchase Discounts
7,000
7,000
0
Purchase Returns and Allowances
3,000
3,000
0
Rent Expense
19,600
19,600
0
Salaries Expense
120,000
120,000
0
Sales
860,000
860,000
0
Sales Commissions Expense
8,000
14,000
6,000
Sales Commissions Payable
6,000
6,000
Sales Returns and Allowances
10,000
10,000
0
Store Equipment
125,000
125,000
0
Property Taxes Payable
3,500
3,500
Utilities Expense
10,000
10,000
0
Analysis
reveals
the following additional data:
1.
Salaries expense is
70%
selling and
30%
administrative.
2.
Insurance expense is
50%
selling and
50%
administrative.
3.
A physical inventory was conduced for year ended December 31, 2007 and the inventory was valued at $36,200.
4.
Rent expense, utilities expense, and property tax expense are administrative expenses.
5.
$10,000 of the Notes payable is due for payment next year.
6.
The beginning balance of accounts receivable is $10,750.
7.
The amount of total assets at the beginning of the year is $198,275.
Instructions
1)
Journalize the adjusting entries that were made by the company.
2)
Prepare a multiple-step income statement and a retained earnings statement for the year and a classified balance sheet as of December 31, 2007.
3)
Journalize the closing entries.
4)
Prepare a post-closing trial balance.
5)
Prepare the following ratios and show all support for your 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 a.
Problem 12-9AYour answer is partially correct. Try again..docx
Problem 12-9A
Your answer is partially correct. Try again.
Condensed financial data of Odgers Inc. follow.
ODGERS INC.Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 131,704
$ 78,892
Accounts receivable
143,114
61,940
Inventory
183,375
167,646
Prepaid expenses
46,292
42,380
Long-term investments
224,940
177,670
Plant assets
464,550
395,275
Accumulated depreciation
(81,500
)
(84,760
)
Total
$1,112,475
$839,043
Liabilities and Stockholders’ Equity
Accounts payable
$ 166,260
$ 109,699
Accrued expenses payable
26,895
34,230
Bonds payable
179,300
237,980
Common stock
358,600
285,250
Retained earnings
381,420
171,884
Total
$1,112,475
$839,043
ODGERS INC.Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$633,190
Less:
Cost of goods sold
$220,800
Operating expenses, excluding depreciation
20,228
Depreciation expense
75,795
Income tax expense
44,466
Interest expense
7,710
Loss on disposal of plant assets
12,225
381,224
Net income
$ 251,966
Additional information:
1.
New plant assets costing $163,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $93,725 and accumulated depreciation of $79,055 were sold for $2,445 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $42,430 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
$
$
Problem 12-10A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 151,904
$ 90,992
Accounts receivable
165,064
71,440
Inventory
211,500
193,358
Prepaid expenses
53,392
48,880
Long-term investments
259,440
204,920
Plant assets
535,800
455,900
Accumulated depreciation
(94,000
)
(97,760
)
Total
$1,283,100
$967,730
Liabilities and Stockholders’ Equity
Accounts payable
$ 191,760
$ 126,524
Accrued expenses payable
31,020
39,480
Bonds payable
206,800
274,480
Common stock
413,600
329,000
Retained earnings
439,920
198,246
Total
$1,283,100
$967,730
ODGERS INC.Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$730,305
Less:
Cost of goods sold
$254,665
Operating expenses, excluding depreciation
23,331
Depreciation expense
87,420
Income taxes
51,286
Interest expense
8,892
Loss on disposal of plant assets
14,100
439,694
Net income
$ 290,611
Additional information:
1.
New plant assets costing $188,000 were purchased for c.
#1Listed below are items that are commonly accounted for differe.docx
#1
Listed below are items that are commonly accounted for differently for financial reporting purposes than they are for tax purposes.
For each item below, indicate whether it involves:
(1)
A temporary difference that will result in future deductible amounts and, therefore, will usually give rise to a deferred income tax asset.
(2)
A temporary difference that will result in future taxable amounts and, therefore, will usually give rise to a deferred income tax liability.
(3)
A permanent difference.
Use the appropriate number to indicate your answer for each.
(a)
The MACRS depreciation system is used for tax purposes, and the straight-line depreciation method is used for financial reporting purposes for some plant assets.
(b)
A landlord collects some rents in advance. Rents received are taxable in the period when they are received.
(c)
Expenses are incurred in obtaining tax-exempt income.
(d)
Costs of guarantees and warranties are estimated and accrued for financial reporting purposes.
(e)
Installment sales of investments are accounted for by the accrual method for financial reporting purposes and the installment method for tax purposes.
(f)
Interest is received on an investment in tax-exempt municipal obligations.
(g)
For some assets, straight-line depreciation is used for both financial reporting purposes and tax purposes, but the assets’ lives are shorter for tax purposes.
(h)
Proceeds are received from a life insurance company because of the death of a key officer. (The company carries a policy on key officers.)
(i)
The tax return reports a deduction for 80% of the dividends received from U.S. corporations. The cost method is used in accounting for the related investments for financial reporting purposes.
(j)
Estimated losses on pending lawsuits and claims are accrued for books. These losses are taxdeductible in the period(s) when the related liabilities are settled.
(k)
Expenses on stock options are accrued for financial reporting purposes.
-----------------------------------------------------------------------------------------------------
#2
The pretax financial income (or loss) figures for Synergetics Company are as follows.
2008
$163,400
2009
254,800
2010
87,200
2011
(163,400
)
2012
(392,300
)
2013
130,100
2014
113,900
Pretax financial income (or loss) and taxable income (loss) were the same for all years involved. Assume a 45% tax rate for 2008 and 2009 and a 40% tax rate for the remaining years.
Prepare the journal entries for the years 2010 to 2014 to record income tax expense and the effects of the net operating loss carrybacks, and carryforwards, assuming Synergetics Company uses the carryback provision. All income and losses relate to normal operations. (In recording the benefits of a loss carryforward, assume that no valuation account is deemed necessary.)
(Credit account titles are automatically indented when amount is entered. Do not inde.
Mc Donald Financial Analysis Project
This is a financial analysis of Mc Donald during 2008 to 2014 .
Grey Modern Professional Business Project Presentation_20240426_104307_0000.pptx
BUSINEESS PROPESSINONAL GEY MORDRAEN
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Men with a mutation that effects microtubules will have a build up of.pdf
Men with a mutation that effects microtubules will have a build up of fluid in their lungs, and
they will be sterile because their sperm cells cannot swim. Why would a defect in microtubules
have such different and yet specific effects?
Solution
Microtubules are filamentous intracellular structures that are responsible for various kinds of
movements in all eukaryotic cells. Microtubules are involved in nucleic and cell division,
organization of intracellular structure, and intracellular transport, as well as ciliary and flagellar
motility.Motile cilia include ependymal cilia in the brain that are responsible for circulating
cerebrospinal fluid, and respiratory cilia that move mucus and inhaled particulate matter up and
out of the lungs. Following ejaculation, millions of motile sperm use their flagella to swim
through the uterus and up into the oviducts. As the sperm cells move through the oviduct, they
encounter a flow oriented against their direction of movement generated by oviduct cilia
sweeping the ovum from the ovary toward the uterus.After mutation, all these got altered and
hence, a defect in microtubules have such different and specific effects..
Large corporations may obtain funds for operations and expansion A. t.pdf
Large corporations may obtain funds for operations and expansion A. through direct finance
when stocks are sold in secondary markets. OB. by reinvesting profits. OC. through direct
finance when loans are made by banks OD. through indirect finance when bonds are sold in
secondary markets. E. all of the above.
Solution
1. E
2. D
3. A
4. E
5. E
5. D
7. True
8.E
9. A
10. B
By,
Nishant Bhatt.
Java ProgrammingCreate an array of Strings that contains the foll.pdf
Java Programming:
Create an array of Strings that contains the following:
String[] names = { \"Bill\", \"Mike\", \"Joe\", \"Dave\", \"Sam\", \"Mary\", \"George\",
\"Lucy\" }
In your main program, search the array and display all of the elements that begin with \'M\'.
Solution
NamesSearch.java
public class NamesSearch {
public static void main(String[] args) {
String[] names = { \"Bill\", \"Mike\", \"Joe\", \"Dave\", \"Sam\", \"Mary\", \"George\",
\"Lucy\" };
System.out.println(\"Display all of the elements that begin with \'M\': \");
for(int i=0; i.
Compare and contrast personal orientation and performance orientatio.pdf
Compare and contrast personal orientation and performance orientation.
Solution
personal orientation is the continuous process of how an individual determines and evaluates the
relatioship between him and the remaining people at the work place or in the society. it speaks
about how an indivual interpret the incidents, how he acts in the situations, how he reacts and
how he looks towards the conditions. it speaks about how an individual is intellecutally,
emotionally and spirutually. it speaks about a persons personality and character.
on the other hand performance orientation considers developmental angle of a human being.
means it considers how an individual is performing at his task, and how the society or
organisation is rewarding his performance. in simple words performance orientation speaks
about how an individual is doing his job and what he gets as rewards..
How can the ItemListener interface be used to handle input from radi.pdf
How can the ItemListener interface be used to handle input from radio buttons?
Solution
The radio button fires an ActionEvent whenever the user clicks on it, even if the radio button is
selected before. If you just want to care about when a radio button’s state changes
(selected or deselected)
ItemListener interface can be used to fire event on radio button.
radioButton.addItemListener(new ItemListener() {
@Override
public void itemStateChanged(ItemEvent event) {
int state = event.getStateChange();
if (state == ItemEvent.SELECTED) {
// do something when the button is selected
} else if (state == ItemEvent.DESELECTED) {
// do something else when the button is deselected
}
}
});.
DNA replicates conservatively, Semiconservatively, liberally, by hyb.pdf
DNA replicates conservatively, Semiconservatively, liberally, by hybridization by congression.
A bacterial artificial chromosome is a vector with centromeres, telameres, and an origin of
replication. with centromeres and an origin of replication derived from a plasmid with an origin
of replication. derived from a plasmid with a centromere, derived from a complete bacterial
chromosome. The central dogma of molecular biology is____________ rightarrow
___________ rightarrow ___________ Which of the following correctly represents the
distinction between the terms \"genotype\" and \"phenotype\"? Phenotype is the genetic
composition of an organism, while genotype is the physical appearance. There is no difference
between a genotype and a phenotype. A phenotype is dominant and a genotype is recessive.
The genotype is the genetic composition of an organism, whereas the phenotype is its physical
appearance.
Solution
5. b) semiconservatively
The DNA is doube stranded with two strans in antipolar nature. During replication the two
strands sepearate. A new strand is added to each one of them and thus we get two new double
stranded DNA strands with one old strand and one new strand. Hence it is called Semi-
conservative.
6. c) Derived from plasmid with an origin of replication.
The Bacterial artificial chromosome is derived from fully functional F plasmid. It is used to
clone large DNA inserts and express inside E. coli. It has its own origin of replication and genes
for homologous recombination. This Ori, helps it to replicate on its own inside the bacterial cell
and maintain itself. However unlike actual chromosome it does not contain centromers or
telomeres. Hence answer is option C.
7. DNA --> RNA --> Protein
It is the central dogma of Biology, in which the DNA acts as genetic material passes on its
information to RNA (mRNA-messenger RNA) by a process called as Transcription. The mRNA
is later Translated with the help of ribosomes into proteins. Athough there is another transition
exists in which RNA is converted back to DNA, which is called reverse transcription ( Not
mentioned in the question ).
8. d) The genotype is the genetic compostion of an organism, whereas the phenotype is its
physical appearance.
The genotype is the genetic content, what genes the organism possesses. These genes gets
transcribed and translated into proteins, which make up the appearance of the organism, in other
words Phenotype. Phenotype depends largely on the genotype and genotype is hereditory..
Describe the pathway of blood as it flows from the Right atrium to t.pdf
Describe the pathway of blood as it flows from the Right atrium to the Coronary circulation.
Begin by stating which vessels empty bloodinto the Rt. atrium then list all structures and valves
involved in the process in the order that blood flows through.
Solution
The Coronary veins empty the deoxygenated blood from myocardium capillaries into the
coronary sinus. The coronary sinus empties the blood into the right atrium via its three large
tributaries. The blood from right atrium passes to the right ventricles via tricuspid valves and
opening of pulmonary valve allows the pulmonary trunk to carry it to the lungs for oxygenation.
Now, the oxygenated blood is carried to left atrium by pulmonary veins. The opening of mitral
valve enters the blood into the left ventricle. The left ventricle pumps the bloood into aorta upon
opening of aortic valves through left and right coronary arteries that originated from the base of
aorta. The left coronary artery supplies blood to the interventricular septum, anterior ventricular
walls, left atrium, and posterior wall of left ventricle. The right coronary artery suppplies the
blood to the most part of right ventricle and right atrium..
A plane electromagnetic wave traveling in the positive direction of a.pdf
A plane electromagnetic wave traveling in the positive direction of an x axis in vacuum has
components E_x = E_y = 0 and E_z = (4.2 V/m) cos[(pi times 10^15 s^-1)(t - x/c)]. What is the
amplitude of the magnetic field component? Your answer cannot be understood or graded. More
Information T
Solution
B = E/c
=> Bx = By = 0 ( as Ex, Ey = 0 )
=> Bz = 4.2/(3*10^8) = 1.4*10^-8 T.
1What type of disk does each of the following represents devhd.pdf
1:What type of disk does each of the following represents ?
/dev/hd
/dev/sd
/dev/ed
/dev/xd
Solution
In Linux/unix operating sytem, memory is organised in different ways.
/dev/hd for IDE disks
The storage devices on the computer system along with
mohterboard for storage.
/dev/sd for SCSI disks
SCSI(Small Computer System Interface) is a set of parallel interface
standard for attaching printers disk drives, scanners etc and
other pheripheral devices to the computers.
/dev/ed for ESDI disks
ESDI disk operates on 16 bit AT BUS .
This doubles the transfer speed between hard disk
and controller/bus.It supports the feature of disk
with sector that identifies number of the tracks and cylinders.
/dev/xd for XT disks.
1. When did Industrial Revolution happen What is the most important.pdf
1. When did Industrial Revolution happen? What is the most important machine tools invented at
that time?
Solution
1.
One of the most important and productive periods of history was the Industrial Revolution. Many
of the inventions made during this time make our everyday life possible.
The Industrial Revolution was the phase of time through the 18th and 19th centuries when the
face of industry altered dramatically. These change had a tremendous and long durable impact on
the economy of the world and the life of the common person.
There were hundreds of inventions during this point time.
Below are a few of the majority important piece of equipment tools invented
Spinning Jenny
James Hargreaves developed the spinning jenny in 1764. This appliance allowed employees to
spin more wool at one moment in time to a great extent increasing efficiency. This invention was
necessary for the industrialization of the cloth industry.
Steam Engine
James Watt created the primary truly dependable steam engine in 1775. additional, less efficient
models had been industrial in the 1600s. Watt’s account included a crankshaft and mechanism
and is the base for modern vapor engines. This creation made locomotive and a lot of of the
textile machinery possible.
Power Loom
Edmund Cartwright made-up the control loom in 1785. It radically changed the method cloth
was woven by creation it much easier. It would obtain almost one more fifty years and several
alteration by other inventors before it would turn out to be commonly used.
Cotton Gin
Eli Whitney patented the yarn gin in 1794. previous to the creation of the yarn gin, cotton seed
had to be detached from the yarn fiber by hand. This detection made yarn a much more profitable
yield for farmers. With this discovery, many extra farmers curved to cotton as their chief crop,
very much increasing the quantity of cotton plantation in the South. These mounting farms
required cheap labor, which also resulted in an enlarged use of African slaves.
Telegraph
F. B. Morse bowed the telegraph in 1836. This discovery distorted the face of message. Instant
message became possible stuck between the east and west coasts and allowable people to know
what was occurrence almost as it happened. This would transform media and personal message.
Sewing Machine
Elias Howe shaped the sewing appliance in 1844. This everlastingly distorted the way clothes
were made and allowable the mass manufacture of clothes. Before this it was most ordinary for
women to make all of the clothing for their families. Only the very well-to-do could have enough
money to have a tailor or seamstress make tradition clothing of the latest style. It was later better
upon and original by Isaac Singer in 1855.
Internal Combustion Engine
Jean Lenoir made-up the internal ignition engine in 1858. finally this engine was used in mass
transport.
Telephone
Alexander Graham Bell shaped the telephone in 1876. The telephone more improved interactions
and eventually led to the a mix.
A model showing a hypothesized signaling pathway for shmoo formation.pdf
A model showing a hypothesized signaling pathway for shmoo formation in yeast Fus3 kinase
and formin proteins are generally distributed evenly throughout a yeast cell.
. Based on the model in the diagram, why does the shmoo projection emerge on the same side of
the cell that bound the mating factor?
The only formin molecules that get phosphorylated and thus activated are those near the G
protein-coupled receptor that binds mating factor.
All of the Fus3 kinase and formin molecules in the cell become activated by binding of mating
factor, but the actin strands form only on the side toward the potential mate.
The G protein-coupled mating factor receptors are located on only one side of the cell, and that is
where the signal transduction occurs to initiate shmoo formation.
Solution
True hypothesis: C. The G protein-coupled mating factor receptors are located on only one side
of the cell, and that is where the signal transduction occurs to initiate shmoo formation.
Explanation:
It is because the mating factor activates a signaling pathway in which formin builds a long
microfilament on the inside of the cell that pushes the Shmoo projection outwards.
Signaling pathway for shmoo formation in yeast:
Step 1: Mating factor activates receptor.
Step 2: G protein binds to GTP and became activated.
Step 3: Phosporylation cascade activated Fus 3, which moves the plasma membrane.
Step 4: Fus 3 Phosporylates formin and activates it.
Step 5: fomin initiate growth of microfilament that for the shmoo formation.
False hypothesis:
A. The only formin molecules that get phosphorylated and thus activated are those near the G
protein-coupled receptor that binds mating factor.
Explanation: Phosporylation taken placed in step 2, 3 and 5. So only formin molecules
phosphorylation is wrong hypothesis.
B. All of the Fus3 kinase and formin molecules in the cell become activated by binding of
mating factor, but the actin strands form only on the side toward the potential mate.
Explanation: Step 1 is a initiation step, in which mating factor binds to G protein..
Because of the close co-movement between the budget deficit and the .pdf
Because of the close co-movement between the budget deficit and the current account deficit, the
two are often referred to as “twin deficits”. Explain in detail how an increase in the budget deficit
that is due to an increase in government spending (not matched with an increase in taxes) will
generate a current account deficit. Clearly explain the role of the interest rate and the exchange
rate for the link between the budget deficit and the current account deficit. B) Describe the
various factors that investors take into account when operating in the context of an open
economy and discuss, in detail, how each of these factors affects their decisions to invest
domestically or abroad. Give examples to illustrate your answers.
Solution
A)
A common view held by economists is that an increasing current account deficit indicates that a
nation is “living beyond its means” – with excessive domestic demand boosting imports and
fuelling inflation, which undermines the competitiveness of the nation and restricts exports.
They point to the fact that the current account deficit is a measure of the nation’s overseas
borrowing. So for each quarter that the economy is in external deficit, its stock of foreign
liabilities increase. These liabilities can be in the form of debt or equity participation in local
firms.
Following this logic, an increasing current account deficit indicates that local consumption and
investment is becoming increasingly dependent on the whims of foreign lenders.
They also argue that there is a strong and direct relationship between the national economy’s
current account balance and its government budget balance and can become twinned” – that is,
move together dollar-for-dollar. This is the twin deficit hypothesis.
The hypothesis is based on national accounting relationships that can be used to show that a
current account deficit measures the difference between total domestic (public and private)
saving and investment.
This viewpoint considers “national” saving to be the sum of private saving and budget surpluses
and total investment to be the sum of private and public capital formation. Accordingly, if the
budget moves into deficit, they consider national saving to have fallen and/or national investment
to have risen, depending on whether the rise in the deficit is driven by public consumption or
investment spending.
Accordingly, other things equal, an increase in the budget deficit will result in a rise in the
current account account deficit
Further, if the nation has an increasing budget deficit, it is to be increasingly dependent on the
foreign purchases of its debt to supplement domestic savers’ purchases of government debt.
So both a rising budget deficit and rising current account deficit indicate an increased reliance on
foreign debt purchases, which according to this viewpoint renders the domestic economy
vulnerable to unexpected and sudden changes in economic fortunes. Proponents of this
viewpoint suggest that the risk of t.
C GATE. Candidate Site httpsgate aon.com Candidate Step ReturnTo.pdf
C | | GATE. Candidate Site httpsgate aon.com Candidate Step ReturnTo Yew Faverites loots
Help Alpha Company Individual Employee Report for Sheila in Q2 Alpha Company Employee
Productivity Results Breakdown by Types of Services Services Basic A Q3 forecast Basic B
Upgrade A Upgrade B Deluxe A DeluxeB Maurice Rotvan Shel What was the percentage
decrease in Juan\'s revenue from Q1 to Q2? 2% 5% 10% 11% Clear Answer * 20%
Solution
% decrease in Juna\'s revenue from Q1 to Q2 is equal to
=(18-20)/20
which is equal to
=10%.
Your assignment is to discuss what is going on in this graph. Describ.pdf
Your assignment is to discuss what is going on in this graph. Describe the relationship between
the soil, the roots, and leaves as they pertain to water movement. I expect you to discuss these
changes in terms of changes in water potential, diurnal fluctuations in activity, the nature of
water integral the soil, and what is driving the changes in water potential.
Solution
The graph represents water pontential of soil, root (xylem) and leaf (mesophyll cells). Initially,
the soil is wet which dries out with time and the soil water potential becomes more negative; at
this point it is called as soil water tension also. The value -15 bar represents the wilting point
which is the soil water content at which wilting of leaf can not be recovered upon watering.
Roots also serve to remove the water from theirt adjacent surrounding soil particles and thereby
lower down the water content (soil water potential) in that zone. The larger surface area of root
hairs changes the osmotic pressure in the roots and allows the water to enter the roots down the
potential gradiant. The water moves up in the xylem down the potential gradiant. For the
purpose, capillary action moves the water droplet up in the xylem. Mesophyll water potential is
reduced by transpiration. The resultant transpiration pull creates the negative mesophyll water
potential and the water enters the leaves..
Why do plants need secondary growth O To produce new leaves O To pro.pdf
Why do plants need secondary growth? O To produce new leaves O To produce a more
extensive root system To provide structural support for the plant O To grow taller Submit My
Answers Give Up Part F Which of the following parts of a plant remains on the plant even after
several years of growth? O Epidermis O Cortex O Primary xylem Primary phloem Submit My
Answers Give Up
Solution
To provide structural support to the cell
secondary growth makes a plant grow wider and provides strength to the cell..
Which of the following traits were key adaptations that allowed plant.pdf
Which of the following traits were key adaptations that allowed plants to first move onto land?
(select all that apply) Xylem and phloem Mycorrhizae Stomata Microphylls and megaphylls
(leaves) A waxy layer outside of epidermal cells
Solution
Key adaptations that allowed plants to first move onto land:.
Which is more likely to form in a metal, a Frenkel defect or a Schot.pdf
Which is more likely to form in a metal, a Frenkel defect or a Schottky defect? Justify answer.
Solution
Schottky defect :-
It is basically a vacancy defect in ionic solids. In order to maintain electrical neutrality, the
number of missing cations and anions are equal. Like simple vacancy defect, Schottky defect
also decreases the density of the substance. Number of such defects in ionic solids is quite
significant
Frenkel defect :-
This defect is shown by ionic solids. In this defect the smaller ions are dislocated from its normal
site
to an interstitial site . It generate a vacancy defect at its original site and an interstitial defect at
its new location. Frenkel defect is also called dislocation defect
In this type of defect, density remains same. Frenkel defect is shown by ionic substance in which
there is a large difference in the size of ions, for example, ZnS, AgCl, AgBr and AgI shows this
effect
due to small size of Zn2+ and Ag+ ions.
For example, in NaCl there are approximately 106 Schottky pairs per cm3 at room temperature.
In 1
cm3 there are about 1022 ions. Thus, there is one Schottky defect per 1016 ions. Schottky defect
is
shown by ionic substances in which the cation and anion are of almost similar sizes. For
example,
NaCl, KCl, CsCl and AgBr. It may be noted that AgBr shows both, Frenkel as well as Schottky
defects
But in case of metals, Typical metallic structure doesn\'t seem to have a defect as such Yet, metal
ions may migrate to interstitial voids, this defect is called Frenkel defect. By reaction with a non-
metal on the surface, metals may liberate electrons e.g. Zinc, this defect is called Metal Excess
defect due to anionic deficiency.
Hence FRENKEL defect is more likely to form in a metal.
When the correlation coefficient is negative the dependent variable .pdf
When the correlation coefficient is negative the dependent variable has an __________ linear
relationship with the independent variable. ( Fill in the blank)
A. Inverse Relationship
B. Converse Relationship
C. No Correlation Relationship exist
Solution
A. Inverse linear Relationship
positive correlation = upward/direct linear relationship, negative correlation = downward/inverse
linear relationship.
What does PPE stand for in Safety gears Rank the following tasks in.pdf
What does PPE stand for in Safety gears? Rank the following tasks in order of effectiveness for
improving safety: i) Take measures to reduce risk ii) Ensure that operators are wearing the
appropriate safety gear iii) Alter processes and materials to eliminate risk
Solution
5. PPE: Personal Protective Equipment.
6. Rank 1: Alter Processes and materials to eliminate risks.
Rank 2: Take measures to reduce risk like safety alarms and safety switches
Rank 3: Ensure that operators are wearing appropriate safety gears..
What is a scientific paradigm Why do paradigms change over time.pdf
What is a scientific paradigm? Why do paradigms change over time?
Solution
Scientific paradigm
Scientific paradigm form the set of methods, formulae, derivations, theories, experiments which
form the basis of expedition among scientists and is being accepted by them as the base for
scientific conclusions.
Paradigms change over time due to the new world discoveries and invention of new
technologies. Some of the paradigms do not lose their uniqueness, identity and exactness, while
some are to be corrected as the new inventions deliever still more deeper insight into the problem
or process..
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https://www.linkedin.com/in/shyam-raj-prasad/
Embracing GenAI - A Strategic Imperative
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
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This slide is prepared for master's students (MIFB & MIBS) UUM. May it be useful to all.The French Revolution Class 9 Study Material pdf free download
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
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Child centred education is an educational approach that priorities the interest, needs and abilities of the child in the learning process.
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Please, I need correct answers and clear explanation of the followin.pdf
- 1. Please, I need correct answers and clear explanation of the following b,c and e questions. Thanks, Using the West Jet Financial statements, answer the following questions R1 2-4 p.106-109) b. Why do you think West Jet does not report a cost of goods sold c. Explain what “Advanced ticket sales” in the current liabilities section represents e. How much did West Jet use in 2013 to acquire new aircraft? Which statement did you find this information on? _____________________________________________________________________________ ___________________________________________________________ Please follow these information: RI2-4 (Determination of items from a Canadian company's financial statements) Calgary-based WestJet Airlines Ltd. provides services throughout Canada and to some international destinations. Excerpts from its 2013 financial statements are in Exhibits 2-19A to 2- 19C. Exhibit 2-19A WESTJET AIRLINES LTD.'S 2013 CONSOLIDATED STATEMENT OF EARNINGS Consolidated Statement of Earnings For the years ended December 31 (Stated in thousands of Canadian dollars, except per share amounts) Note 2013 2012 Revenue: Guest 3,337,569 3,133,492 Other 324,628 293,917 3,662,197 3,427,409 Operating expenses: Aircraft fuel 1,039,448
- 2. 992,787 Airport operations 459,465 424,911 Flight operations and navigational charges 410,052 376,050 Sales and distribution 356,988 333,106 Marketing, general and administration 222,567 202,398 Depreciation and amortization 200,840 185,401 Inflight 176,907 162,633 Aircraft leasing 175,646 173,412 Maintenance 169,197 154,406 Employee profit share 51,577 46,585 3,262,687 3,051,689 Earnings from operations 399,510 375,720 Non-operating income (expense): Finance income 15
- 3. 17,848 18,391 Finance cost 15 (43,447) (48,900) Gain on foreign exchange 1,136 1,061 Gain (loss) on disposal of property and equipment (2,962) 469 Loss on fuel derivatives — (6,512) (27,425) (35,491) Earnings before income tax 372,085 340,229 Income tax expense (recovery): Current 154,964 66,230 Deferred (51,601) 31,607 11 103,363 97,837 Net earnings 268,722 242,392 Exhibit 2-19B WESTJET AIRLINES LTD.'S 2013 CONSOLIDATED STATEMENT OF FINANCIAL POSITION Consolidated Statement of Financial Position
- 4. At December 31 (Stated in thousands of Canadian dollars) Note 2013 2012 Assets Current assets: Cash and cash equivalents 5 1,256,005 1,408,199 Restricted cash 6 58,106 51,623 Accounts receivable 19 42,164 37,576 Prepaid expenses, deposits and other 19 133,263 101,802 Inventory 19 36,722 35,595 1,526,260 1,634,795 Non-current assets: Property and equipment 7 2,487,734 1,985,599 Intangible assets 8
- 5. 58,691 50,808 Other assets 19 70,778 75,413 Total assets 4,143,463 3,746,615 Liabilities and Shareholders' Equity Current liabilities: Accounts payable and accrued liabilities 19 543,167 460,003 Advance ticket sales 19 551,022 480,947 Non-refundable guest credits 19 46,975 47,859 Current portion of maintenance provisions 9 76,105 34,135 Current portion of long-term debt 10 189,191 164,909 1,406,460 1,187,853 Non-current liabilities: Maintenance provisions 9
- 6. 142,411 145,656 Long-term debt 10 689,204 574,139 Other liabilities 19 8,834 9,914 Deferred income tax 11 306,714 356,748 Total liabilities 2,553,623 2,274,310 Shareholders' equity Share capital 12 603,861 614,899 Equity reserves 69,079 69,856 Hedge reserves 105 (5,746) Retained earnings 916,795 793,296 Total shareholders' equity 1,589,840 1,472,305 Total liabilities and shareholders' equity 4,143,463
- 7. 3,746,615 Exhibit 2-19C WESTJET AIRLINES LTD.'S 2013 CONSOLIDATED STATEMENT OF CASH FLOWS Consolidated Statement of Cash Flows For the years ended December 31 (Stated in thousands of Canadian dollars) Note 2013 2012 Operating activities: Net earnings 268,722 242,392 Items not involving cash: Depreciation and amortization 200,840 185,401 Change in maintenance provisions 26,610 31,378 Change in other liabilities 1,782 (383) Amortization of hedge settlements 1,400 1,400 Loss on fuel derivatives — 6,512 (Gain) loss on disposal of property and equipment 2,962 (469) Share-based payment expense 12 14,533 12,815
- 8. Deferred income tax expense (recovery) (51,601) 31,607 Unrealized foreign exchange gain (12,020) (1,487) Change in non-cash working capital 298,697 208,110 Change in restricted cash (6,484) (3,282) Change in other assets (1,374) (6,894) Cash interest received 19,079 17,780 Cash taxes paid (147,868) (950) Purchase of shares pursuant to compensation plans (7,131) (1,306) 608,147 722,624 Investing activities: Aircraft additions (639,592) (218,116) Other property and equipment and intangible additions (75,580) (51,191) (715,172) (269,307) Financing activities:
- 9. Increase in long-term debt 318,075 72,995 Repayment of long-term debt (178,647) (162,678) Decrease in obligations under finance leases — (75) Shares repurchased 12 (112,362) (112,065) Dividends paid 13 (52,188) (37,549) Issuance of shares pursuant to compensation plans 106 198 Cash interest paid (36,677) (43,055) Change in non-cash working capital 146 (6,815) (61,547) (289,044) Cash flow from operating, investing and financing activities (168,572) 164,273 Effect of foreign exchange on cash and cash equivalents 16,378 321 Net change in cash and cash equivalents (152,194)
- 10. 164,594 Cash and cash equivalents, beginning of year 1,408,199 1,243,605 Cash and cash equivalents, end of year 5 1,256,005 1,408,199 Consolidated Statement of Earnings For the years ended December 31 (Stated in thousands of Canadian dollars, except per share amounts) Note 2013 2012 Revenue: Guest 3,337,569 3,133,492 Other 324,628 293,917 3,662,197 3,427,409 Operating expenses: Aircraft fuel 1,039,448 992,787 Airport operations 459,465 424,911 Flight operations and navigational charges 410,052 376,050 Sales and distribution 356,988 333,106
- 11. Marketing, general and administration 222,567 202,398 Depreciation and amortization 200,840 185,401 Inflight 176,907 162,633 Aircraft leasing 175,646 173,412 Maintenance 169,197 154,406 Employee profit share 51,577 46,585 3,262,687 3,051,689 Earnings from operations 399,510 375,720 Non-operating income (expense): Finance income 15 17,848 18,391 Finance cost 15 (43,447) (48,900) Gain on foreign exchange 1,136 1,061 Gain (loss) on disposal of property and equipment
- 12. (2,962) 469 Loss on fuel derivatives — (6,512) (27,425) (35,491) Earnings before income tax 372,085 340,229 Income tax expense (recovery): Current 154,964 66,230 Deferred (51,601) 31,607 11 103,363 97,837 Net earnings 268,722 242,392 Solution