SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2013 and 2014.pdf
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Smolira Golf has 12,000 shares of common stock outstanding, and the market price for a share of stock at the end of 2014 was $75. What is the price-earnings ratio? (Do not round intermediate calculations.Round your answer to 2 decimal places (e.g., 32.16).) What is the price-sales ratio? (Do not round intermediate calculations.Round your answer to 2 decimal places (e.g., 32.16).) What are the dividends per share? (Do not round intermediate calculations.Round your answer to 2 decimal places (e.g., 32.16).) What is the market-to-book ratio at the end of 2014? (Do not round intermediate calculations.Round your answer to 2 decimal places (e.g., 32.16).)Some recent financial statements for Smolira Golf, Inc., follow. Solution Requirement 1: Price-earnings ratio = $75 / ($35,207 / 12,000) = 25.56 times Requirement 2: Price-sales ratio = $75 * 12,000 / $186,970 = 4.81 times Requirement 3: Dividends per share = $11,885 / 12,000 = $0.99 Requirement 4: Market-to-book ratio = $75 / ($75,966 / 12,000) = 11.85 times.
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Some recent financial statements for Smolira Golf, Inc., follow SMOLI.pdf
Some recent financial statements for Smolira Golf, Inc., follow SMOLIRA GOLF, INC Balance
Sheets as of December 31, 2013 and 2014 2013 2014 2013 2014 Assets Liabilities and Owners\'
Equity Current assets Current liabilities Cash Accounts receivable Inventory $ 3,181 3,257
Accounts payable 4,762 5,771 Notes payable 12,498 13,772 Other $ 2,158 $ 2,610 2,126 108
1,755 91 Total $20,441 $22,800 Total $ 4,004 $ 4,844 Long-term debt Owners\' equity $13,300
$ 16,060 Common stock and paid-in surplus Accumulated retained earnings $38,500 $ 38,500
Fixed assets 15,659 39,185 $54,159 $ 77,685 $71,463 $ 98,589 Net plant and equipment $51,022
$75,789 Total Total assets $71,463 $98,589 Total liabilities and owners\' equity
Solution
Formulas
S.R. No.
Ratio Name
Formulas
2013
2014
2013
2014
Short term solevency ratio
a
Current ratio
Current Assets/Current Liabilities
5.10
4.71
20414/4004
22800/4844
b
Quick ratio
(Cash + Marketable Securities + Accounts Receivable)/
Current Liabilities
1.98
1.86
(3181+0+4762)/4004
(3257+0+5771)/4844
c
Cash ratio
(Cash Equivalents + Marketable Securities)/Current Liabilities
0.79
0.67
(3181+0)/4004
(3257+0)/4844
Asset utilisation ratio
d
Total asset turnover ratio
Net Sales/Average Total Assets
1.90
187570/98589
e
Inventory turnover
Cost of Goods Sold/Average Inventory
9.17
126303/13772
f
Receivable turnover
Net Sales/Average Gross Receivables
32.50
187570/5771
Long term solvency ratio
g
Total debt ratio
Total Liabilities/Total Assets
0.24
0.21
(4004+13300)/71463
(4844+16060)/98589
h
Debt-equity ratio
Total Debt/Total Equity
0.25
0.21
13300/54159
16060/77685
i
Equity multiplier
Total assets /total shareholder\'s equity
1.32
1.27
71463/54159
98589/77685
j
Time interest earned ratio
EBIT/Interest Expense
39.40
55944/1420
k
Cash coverage ratio
(EBIT+Non cash exp)/Interest exp
43.15
(55944+5323)/1420
Profitability ratio
l
Profit margin ratio
Net Income /Net Sales
0.19
35441/187570
m
Return on assets
Net Income /(Beginning + Ending Total Assets) / 2
0.36
35441/98589
l
Return on equity
Net Income /Equity
0.46
35441/77685
* As per question year ended figure has been taken whereever required instead of averaged out.
Formulas
S.R. No.
Ratio Name
Formulas
2013
2014
2013
2014
Short term solevency ratio
a
Current ratio
Current Assets/Current Liabilities
5.10
4.71
20414/4004
22800/4844
b
Quick ratio
(Cash + Marketable Securities + Accounts Receivable)/
Current Liabilities
1.98
1.86
(3181+0+4762)/4004
(3257+0+5771)/4844
c
Cash ratio
(Cash Equivalents + Marketable Securities)/Current Liabilities
0.79
0.67
(3181+0)/4004
(3257+0)/4844
Asset utilisation ratio
d
Total asset turnover ratio
Net Sales/Average Total Assets
1.90
187570/98589
e
Inventory turnover
Cost of Goods Sold/Average Inventory
9.17
126303/13772
f
Receivable turnover
Net Sales/Average Gross Receivables
32.50
187570/5771
Long term solvency ratio
g
Total debt ratio
Total Liabilities/Total Assets
0.24
0.21
(4004+13300)/71463
(4844+16060)/98589
h
Debt-equity ratio
Total Debt/Total Equi.
Blige Inc.Comparative Balance SheetDecember 31, 2014 and 2013.docx
Blige Inc.
Comparative Balance Sheet
December 31, 2014 and 2013
Dec. 31, 2014
Dec. 31, 2013
Assets
Current assets
Cash
$199,380
$240,410
Temporary investments
301,760
398,400
Accounts receivable (net)
211,700
197,100
Inventories
160,600
116,800
Prepaid expenses
37,712
48,080
Total current assets
$911,152
$1,000,790
Long-term investments
695,168
468,163
Property, plant, and equipment (net)
1,080,000
972,000
Total assets
$2,686,320
$2,440,953
Liabilities
Current liabilities
$293,920
$633,353
Long-term liabilities
Mortgage note payable, 8%, due 2019
$400,000
$0
Bonds payable, 8%, due 2015
500,000
500,000
Total long-term liabilities
$900,000
$500,000
Total liabilities
$1,193,920
$1,133,353
Stockholders' Equity
Preferred $0.70 stock, $20 par
$180,000
$180,000
Common stock, $10 par
210,000
210,000
Retained earnings
1,102,400
917,600
Total stockholders' equity
$1,492,400
$1,307,600
Total liabilities and stockholders' equity
$2,686,320
$2,440,953
Required:
Determine the following measures for 2014, rounding to one decimal place, except for dollar amounts, which should be rounded to the nearest cent. Use the rounded answer of the requirement for subsequent requirement, if required. Assume 365 days a year.
1.
Working capital
$
[removed]
2.
Current ratio
[removed]
3.
Quick ratio
[removed]
4.
Accounts receivable turnover
[removed]
5.
Number of days' sales in receivables
[removed]
days
6.
Inventory turnover
[removed]
7.
Number of days' sales in inventory
[removed]
days
8.
Ratio of fixed assets to long-term liabilities
[removed]
9.
Ratio of liabilities to stockholders' equity
[removed]
10.
Number of times interest charges are earned
[removed]
11.
Number of times preferred dividends are earned
[removed]
12.
Ratio of net sales to assets
[removed]
13.
Rate earned on total assets
[removed]
%
14.
Rate earned on stockholders' equity
[removed]
%
15.
Rate earned on common stockholders' equity
[removed]
%
16.
Earnings per share on common stock
$
[removed]
17.
Price-earnings ratio
[removed]
18.
Dividends per share
of common stock
$
[removed]
19.
Dividend yield
[removed]
%
.
Problem 11-13 Ratio analysis-comprehensive problenm Presented her.pdf
Problem 11-13 Ratio analysis-comprehensive problenm Presented here are summarized data
from the balance sheets and income statement WIPER, INC. Condensed Balance Sheets
December 31, 2014, 2013, 2012 in milions) 2014 2013 2012 Current assets Other assets 677 $
891 736 2,413 1,920 1,719 3,090 $2,811 $2,455 803 $ 710 827 918 $ 562 Current liabilities
Long-term liabilities Owners equity 982 1,521 1,0071,026 $3,090$2,811$2,455 3.090 $2.811
$2,455 WIPER, INC Selected Income Statement and Other Data For the year Ended December
31, 2014 and 2013 (in millions) 2014 . : 2013 Income statement data Sales Operating income
(EBIT) Interest expense Net income $3,050$2,913 310 65 187 296 84 192 Other data Average
number of common shares outstanding Total dividends paid 41.3 46.7 s 50.0S52.3 Required a.
Calculate returm on investment. based on net income e and average totaf assets, for 2014 and 2
Solution
Return on Investment = Net Income x 100 / Average Assets.
Average Assets = Assets at beginning + Assets at end
For 2014:
192 x 100 / 2,950.5 = 6.5%
For 2015:
187 x 100 / 2,633 = 7.1%
Days’ Sales in Receivables = Average receivables / Sales / 365
309 / 3060 / 365 = 309 / 8.38
= 37 days.
Debt Ratio = Total debt / Capital Employed
2014 = 2083 / 2528 = 82.4%
2013 = 1785 / 2008 = 88.9%
Debt Equity Ratio = Long-term debt / Owners’ equity
2014 = 1521 / 1007 = 151%
2013 =982 / 1026 = 96%
Times Interest Earned Ratio = EBIT / Total Interest Payable
2014 =296 / 84 = 3.5 times
2013 =310 / 65 = 4.8 times..
Exercise 12-1Putnam Corporation had these transactions during 20.docx
Exercise 12-1
Putnam Corporation had these transactions during 2014.
Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities, financing activities, or noncash investing and financing activities.
(a)
Purchased a machine for $30,000, giving a long-term note in exchange.
(b)
Issued $50,000 par value common stock for cash.
(c)
Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
(d)
Declared and paid a cash dividend of $13,000.
(e)
Sold a long-term investment with a cost of $15,000 for $15,000 cash.
(f)
Collected $16,000 of accounts receivable.
(g)
Paid $18,000 on accounts payable.
IFRS 13-1
Ling Company reports the following information for the year ended December 31, 2014: sales revenue $1,000,000, cost of goods sold $700,000, operating expenses $200,000, and an unrealized gain on non-trading securities of $75,000. Prepare a statement of comprehensive income using the one-statement approach.
LING COMPANY
Statement of Comprehensive Income
For the Year Ended December 31, 2014
$
$
Problem 12-9A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 127,664
$ 76,472
Accounts receivable
138,724
60,040
Inventory
177,750
162,503
Prepaid expenses
44,872
41,080
Long-term investments
218,040
172,220
Plant assets
450,300
383,150
Accumulated depreciation
(79,000
)
(82,160
)
Total
$1,078,350
$813,305
Liabilities and Stockholders’ Equity
Accounts payable
$ 161,160
$ 106,334
Accrued expenses payable
26,070
33,180
Bonds payable
173,800
230,680
Common stock
347,600
276,500
Retained earnings
369,720
166,611
Total
$1,078,350
$813,305
ODGERS INC.Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$613,767
Less:
Cost of goods sold
$214,027
Operating expenses, excluding depreciation
19,608
Depreciation expense
73,470
Income tax expense
43,102
Interest expense
7,473
Loss on disposal of plant assets
11,850
369,530
Net income
$ 244,237
Additional information:
1.
New plant assets costing $158,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $90,850 and accumulated depreciation of $76,630 were sold for $2,370 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $41,128 was declared and paid during the year.
Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
ODGERS INC.Statement of Cash Flows
For the Year Ended December 31, 2014
$
Adjustments to reconcile net income to
$
...
Condensed financial data of Odgers Inc. follow.ODGERS INC.Compar.docx
Condensed financial data of Odgers Inc. follow.
ODGERS INC.
Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 199,576
$ 119,548
Accounts receivable
216,866
93,860
Inventory
277,875
254,040
Prepaid expenses
70,148
64,220
Long-term investments
340,860
269,230
Plant assets
703,950
598,975
Accumulated depreciation
(123,500
)
(128,440
)
Total
$1,685,775
$1,271,433
Liabilities and Stockholders’ Equity
Accounts payable
$ 251,940
$ 166,231
Accrued expenses payable
40,755
51,870
Bonds payable
271,700
360,620
Common stock
543,400
432,250
Retained earnings
577,980
260,462
Total
$1,685,775
$1,271,433
ODGERS INC.
Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$959,496
Less:
Cost of goods sold
$334,586
Operating expenses, excluding depreciation
30,653
Depreciation expense
114,855
Income tax expense
67,382
Interest expense
11,683
Loss on disposal of plant assets
18,525
577,684
Net income
$ 381,812
Additional information:
1.
New plant assets costing $247,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $142,025 and accumulated depreciation of $119,795 were sold for $3,705 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $64,294 was declared and paid during the year.
Prepare a statement of cash flows using the indirect method.
.
1- Graynold Company reported the following balances at December 31- 20.docx
1. Graynold Company reported the following balances at December 31, 2013: common stock $401,840; paid-in capital in excess of par value $103,820; retained earnings $241,940. During 2014, the following transactions affected stockholder\'s equity.
Issued preferred stock with a par value of $125,950 for $208,250.
Purchased treasury stock (common) for $35,010.
Earned net income of $136,420.
Declared and paid cash dividends of $59,240.
Instructions: Calculate stockholders\' equity ending 2014
Solution
Solution:
Graynold Compan
STOCKHOLDER\'S EQUITY
.
Recommended
Some recent financial statements for Smolira Golf, Inc., follow SMOLI.pdf
Some recent financial statements for Smolira Golf, Inc., follow SMOLIRA GOLF, INC Balance
Sheets as of December 31, 2013 and 2014 2013 2014 2013 2014 Assets Liabilities and Owners\'
Equity Current assets Current liabilities Cash Accounts receivable Inventory $ 3,181 3,257
Accounts payable 4,762 5,771 Notes payable 12,498 13,772 Other $ 2,158 $ 2,610 2,126 108
1,755 91 Total $20,441 $22,800 Total $ 4,004 $ 4,844 Long-term debt Owners\' equity $13,300
$ 16,060 Common stock and paid-in surplus Accumulated retained earnings $38,500 $ 38,500
Fixed assets 15,659 39,185 $54,159 $ 77,685 $71,463 $ 98,589 Net plant and equipment $51,022
$75,789 Total Total assets $71,463 $98,589 Total liabilities and owners\' equity
Solution
Formulas
S.R. No.
Ratio Name
Formulas
2013
2014
2013
2014
Short term solevency ratio
a
Current ratio
Current Assets/Current Liabilities
5.10
4.71
20414/4004
22800/4844
b
Quick ratio
(Cash + Marketable Securities + Accounts Receivable)/
Current Liabilities
1.98
1.86
(3181+0+4762)/4004
(3257+0+5771)/4844
c
Cash ratio
(Cash Equivalents + Marketable Securities)/Current Liabilities
0.79
0.67
(3181+0)/4004
(3257+0)/4844
Asset utilisation ratio
d
Total asset turnover ratio
Net Sales/Average Total Assets
1.90
187570/98589
e
Inventory turnover
Cost of Goods Sold/Average Inventory
9.17
126303/13772
f
Receivable turnover
Net Sales/Average Gross Receivables
32.50
187570/5771
Long term solvency ratio
g
Total debt ratio
Total Liabilities/Total Assets
0.24
0.21
(4004+13300)/71463
(4844+16060)/98589
h
Debt-equity ratio
Total Debt/Total Equity
0.25
0.21
13300/54159
16060/77685
i
Equity multiplier
Total assets /total shareholder\'s equity
1.32
1.27
71463/54159
98589/77685
j
Time interest earned ratio
EBIT/Interest Expense
39.40
55944/1420
k
Cash coverage ratio
(EBIT+Non cash exp)/Interest exp
43.15
(55944+5323)/1420
Profitability ratio
l
Profit margin ratio
Net Income /Net Sales
0.19
35441/187570
m
Return on assets
Net Income /(Beginning + Ending Total Assets) / 2
0.36
35441/98589
l
Return on equity
Net Income /Equity
0.46
35441/77685
* As per question year ended figure has been taken whereever required instead of averaged out.
Formulas
S.R. No.
Ratio Name
Formulas
2013
2014
2013
2014
Short term solevency ratio
a
Current ratio
Current Assets/Current Liabilities
5.10
4.71
20414/4004
22800/4844
b
Quick ratio
(Cash + Marketable Securities + Accounts Receivable)/
Current Liabilities
1.98
1.86
(3181+0+4762)/4004
(3257+0+5771)/4844
c
Cash ratio
(Cash Equivalents + Marketable Securities)/Current Liabilities
0.79
0.67
(3181+0)/4004
(3257+0)/4844
Asset utilisation ratio
d
Total asset turnover ratio
Net Sales/Average Total Assets
1.90
187570/98589
e
Inventory turnover
Cost of Goods Sold/Average Inventory
9.17
126303/13772
f
Receivable turnover
Net Sales/Average Gross Receivables
32.50
187570/5771
Long term solvency ratio
g
Total debt ratio
Total Liabilities/Total Assets
0.24
0.21
(4004+13300)/71463
(4844+16060)/98589
h
Debt-equity ratio
Total Debt/Total Equi.
Blige Inc.Comparative Balance SheetDecember 31, 2014 and 2013.docx
Blige Inc.
Comparative Balance Sheet
December 31, 2014 and 2013
Dec. 31, 2014
Dec. 31, 2013
Assets
Current assets
Cash
$199,380
$240,410
Temporary investments
301,760
398,400
Accounts receivable (net)
211,700
197,100
Inventories
160,600
116,800
Prepaid expenses
37,712
48,080
Total current assets
$911,152
$1,000,790
Long-term investments
695,168
468,163
Property, plant, and equipment (net)
1,080,000
972,000
Total assets
$2,686,320
$2,440,953
Liabilities
Current liabilities
$293,920
$633,353
Long-term liabilities
Mortgage note payable, 8%, due 2019
$400,000
$0
Bonds payable, 8%, due 2015
500,000
500,000
Total long-term liabilities
$900,000
$500,000
Total liabilities
$1,193,920
$1,133,353
Stockholders' Equity
Preferred $0.70 stock, $20 par
$180,000
$180,000
Common stock, $10 par
210,000
210,000
Retained earnings
1,102,400
917,600
Total stockholders' equity
$1,492,400
$1,307,600
Total liabilities and stockholders' equity
$2,686,320
$2,440,953
Required:
Determine the following measures for 2014, rounding to one decimal place, except for dollar amounts, which should be rounded to the nearest cent. Use the rounded answer of the requirement for subsequent requirement, if required. Assume 365 days a year.
1.
Working capital
$
[removed]
2.
Current ratio
[removed]
3.
Quick ratio
[removed]
4.
Accounts receivable turnover
[removed]
5.
Number of days' sales in receivables
[removed]
days
6.
Inventory turnover
[removed]
7.
Number of days' sales in inventory
[removed]
days
8.
Ratio of fixed assets to long-term liabilities
[removed]
9.
Ratio of liabilities to stockholders' equity
[removed]
10.
Number of times interest charges are earned
[removed]
11.
Number of times preferred dividends are earned
[removed]
12.
Ratio of net sales to assets
[removed]
13.
Rate earned on total assets
[removed]
%
14.
Rate earned on stockholders' equity
[removed]
%
15.
Rate earned on common stockholders' equity
[removed]
%
16.
Earnings per share on common stock
$
[removed]
17.
Price-earnings ratio
[removed]
18.
Dividends per share
of common stock
$
[removed]
19.
Dividend yield
[removed]
%
.
Problem 11-13 Ratio analysis-comprehensive problenm Presented her.pdf
Problem 11-13 Ratio analysis-comprehensive problenm Presented here are summarized data
from the balance sheets and income statement WIPER, INC. Condensed Balance Sheets
December 31, 2014, 2013, 2012 in milions) 2014 2013 2012 Current assets Other assets 677 $
891 736 2,413 1,920 1,719 3,090 $2,811 $2,455 803 $ 710 827 918 $ 562 Current liabilities
Long-term liabilities Owners equity 982 1,521 1,0071,026 $3,090$2,811$2,455 3.090 $2.811
$2,455 WIPER, INC Selected Income Statement and Other Data For the year Ended December
31, 2014 and 2013 (in millions) 2014 . : 2013 Income statement data Sales Operating income
(EBIT) Interest expense Net income $3,050$2,913 310 65 187 296 84 192 Other data Average
number of common shares outstanding Total dividends paid 41.3 46.7 s 50.0S52.3 Required a.
Calculate returm on investment. based on net income e and average totaf assets, for 2014 and 2
Solution
Return on Investment = Net Income x 100 / Average Assets.
Average Assets = Assets at beginning + Assets at end
For 2014:
192 x 100 / 2,950.5 = 6.5%
For 2015:
187 x 100 / 2,633 = 7.1%
Days’ Sales in Receivables = Average receivables / Sales / 365
309 / 3060 / 365 = 309 / 8.38
= 37 days.
Debt Ratio = Total debt / Capital Employed
2014 = 2083 / 2528 = 82.4%
2013 = 1785 / 2008 = 88.9%
Debt Equity Ratio = Long-term debt / Owners’ equity
2014 = 1521 / 1007 = 151%
2013 =982 / 1026 = 96%
Times Interest Earned Ratio = EBIT / Total Interest Payable
2014 =296 / 84 = 3.5 times
2013 =310 / 65 = 4.8 times..
Exercise 12-1Putnam Corporation had these transactions during 20.docx
Exercise 12-1
Putnam Corporation had these transactions during 2014.
Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities, financing activities, or noncash investing and financing activities.
(a)
Purchased a machine for $30,000, giving a long-term note in exchange.
(b)
Issued $50,000 par value common stock for cash.
(c)
Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
(d)
Declared and paid a cash dividend of $13,000.
(e)
Sold a long-term investment with a cost of $15,000 for $15,000 cash.
(f)
Collected $16,000 of accounts receivable.
(g)
Paid $18,000 on accounts payable.
IFRS 13-1
Ling Company reports the following information for the year ended December 31, 2014: sales revenue $1,000,000, cost of goods sold $700,000, operating expenses $200,000, and an unrealized gain on non-trading securities of $75,000. Prepare a statement of comprehensive income using the one-statement approach.
LING COMPANY
Statement of Comprehensive Income
For the Year Ended December 31, 2014
$
$
Problem 12-9A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 127,664
$ 76,472
Accounts receivable
138,724
60,040
Inventory
177,750
162,503
Prepaid expenses
44,872
41,080
Long-term investments
218,040
172,220
Plant assets
450,300
383,150
Accumulated depreciation
(79,000
)
(82,160
)
Total
$1,078,350
$813,305
Liabilities and Stockholders’ Equity
Accounts payable
$ 161,160
$ 106,334
Accrued expenses payable
26,070
33,180
Bonds payable
173,800
230,680
Common stock
347,600
276,500
Retained earnings
369,720
166,611
Total
$1,078,350
$813,305
ODGERS INC.Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$613,767
Less:
Cost of goods sold
$214,027
Operating expenses, excluding depreciation
19,608
Depreciation expense
73,470
Income tax expense
43,102
Interest expense
7,473
Loss on disposal of plant assets
11,850
369,530
Net income
$ 244,237
Additional information:
1.
New plant assets costing $158,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $90,850 and accumulated depreciation of $76,630 were sold for $2,370 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $41,128 was declared and paid during the year.
Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
ODGERS INC.Statement of Cash Flows
For the Year Ended December 31, 2014
$
Adjustments to reconcile net income to
$
...
Condensed financial data of Odgers Inc. follow.ODGERS INC.Compar.docx
Condensed financial data of Odgers Inc. follow.
ODGERS INC.
Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 199,576
$ 119,548
Accounts receivable
216,866
93,860
Inventory
277,875
254,040
Prepaid expenses
70,148
64,220
Long-term investments
340,860
269,230
Plant assets
703,950
598,975
Accumulated depreciation
(123,500
)
(128,440
)
Total
$1,685,775
$1,271,433
Liabilities and Stockholders’ Equity
Accounts payable
$ 251,940
$ 166,231
Accrued expenses payable
40,755
51,870
Bonds payable
271,700
360,620
Common stock
543,400
432,250
Retained earnings
577,980
260,462
Total
$1,685,775
$1,271,433
ODGERS INC.
Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$959,496
Less:
Cost of goods sold
$334,586
Operating expenses, excluding depreciation
30,653
Depreciation expense
114,855
Income tax expense
67,382
Interest expense
11,683
Loss on disposal of plant assets
18,525
577,684
Net income
$ 381,812
Additional information:
1.
New plant assets costing $247,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $142,025 and accumulated depreciation of $119,795 were sold for $3,705 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $64,294 was declared and paid during the year.
Prepare a statement of cash flows using the indirect method.
.
1- Graynold Company reported the following balances at December 31- 20.docx
1. Graynold Company reported the following balances at December 31, 2013: common stock $401,840; paid-in capital in excess of par value $103,820; retained earnings $241,940. During 2014, the following transactions affected stockholder\'s equity.
Issued preferred stock with a par value of $125,950 for $208,250.
Purchased treasury stock (common) for $35,010.
Earned net income of $136,420.
Declared and paid cash dividends of $59,240.
Instructions: Calculate stockholders\' equity ending 2014
Solution
Solution:
Graynold Compan
STOCKHOLDER\'S EQUITY
.
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.
Running head ETHICAL AND LEGAL ISSUES1ETHICAL AND LEGAL ISSUES.docx
Running head: ETHICAL AND LEGAL ISSUES 1
ETHICAL AND LEGAL ISSUES 2
Ethical and Legal Issues
Sherry L. Crowe
Argosy University
B6032 A01 Human Resource Management & Talent Development
Module 2, Assignment 2
Dr. Fuller
January 20, 2016
References
Print by: S
ACC/291 - 49133250 / Assignment: Week 5 Assignment
*Problem 12-9A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.
Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 111,504
$ 66,792
Accounts receivable
121,164
52,440
Inventory
155,250
141,933
Prepaid expenses
39,192
35,880
Long-term investments
190,440
150,420
Plant assets
393,300
334,650
Accumulated depreciation
(69,000 )
(71,760 )
Total
$941,850
$710,355
Liabilities and Stockholders’ Equity
Accounts payable
$ 140,760
$ 92,874
Accrued expenses payable
22,770
28,980
Bonds payable
151,800
201,480
Common stock
303,600
241,500
Retained earnings
322,920
145,521
Total
$941,850
$710,355
ODGERS INC.
Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$536,075
Less:
Cost of goods sold
$186,935
Operating expenses, excluding depreciation
17,126
Depreciation expense
64,170
Income tax expense
37,646
Interest expense
6,527
Loss on disposal of plant assets
10,350
322,754
Net income
$ 213,321
Additional information:
1.
New plant assets costing $138,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $79,350 and accumulated depreciation of $66,930 were sold for
$2,070 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $35,922 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
Cash Flows from Operating Activities<br>
Net Income
$
Adjustments to reconcile net income to
Net Cash Provided by Operating Activities<br>
Decrease in Accrued Expenses Payable$
Increase in Inventory
Increase in Accounts Receivable
Depreciation Expense
Loss on Disposal of Plant Assets
Increase in Prepaid Expenses
Increase in Accounts Payable
Net Cash Provided by Operating Activities<br>
Cash Flows from Investing Activities
Purchase of Investments
Purchase of Plant Assets
Sale of Plant Assets
Net Cash used by Investing Activities<br>
Cash Flows from Financing Activities
Redemption of Bonds
Sale of Common Stock
Payment of Cash Dividends
Net Cash used by Financing Activities<br>
Net Increase in Cash<br>
Cash at Beginning of Period<br>
Cash at End of Period
$
Question Attempts: 0 of 3 used
Copyright © 2000-2015 by John Wiley & Sons, Inc. or related companies. All rights reserved.
Print by: S
ACC/291 - 49133250 / Assignment: Week 5 Assignment
*Problem 12-10A
Your answer is .
Exercise 13-13The condensed financial statements of Elliott Comp.docx
Exercise 13-13
The condensed financial statements of Elliott Company for the years 2013 and 2014 are presented below.
ELLIOTT COMPANY
Balance Sheets
December 31 (in thousands)
2014
2013
Current assets
Cash and cash equivalents
$330
$360
Accounts receivable (net)
506
436
Inventory
519
449
Prepaid expenses
130
160
Total current assets
1,485
1,405
Property, plant, and equipment (net)
410
380
Investments
46
46
Intangibles and other assets
530
510
Total assets
$2,471
$2,341
Current liabilities
$856
$826
Long-term liabilities
539
439
Stockholders’ equity—common
1,076
1,076
Total liabilities and stockholders’ equity
$2,471
$2,341
ELLIOTT COMPANY
Income Statements
For the Year Ended December 31 (in thousands)
2014
2013
Sales revenue
$3,859
$3,519
Costs and expenses
Cost of goods sold
1,006
926
Selling & administrative expenses
2,400
2,330
Interest expense
10
20
Total costs and expenses
3,416
3,276
Income before income taxes
443
243
Income tax expense
177
97
Net income
$ 266
$ 146
Compute the following ratios for 2014 and 2013. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.)
(a)
Current ratio.
(b)
Inventory turnover. (Inventory on December 31, 2012, was $430.)
(c)
Profit margin.
(d)
Return on assets. (Assets on December 31, 2012, were $2,790.)
(e)
Return on common stockholders’ equity. (Equity on December 31, 2012, was $970.)
(f)
Debt to assets ratio.
(g)
Times interest earned.
2014
2013
Current ratio.
:1
:1
Inventory turnover.
Profit margin.
%
%
Return on assets.
%
%
Return on common stockholders’ equity.
%
%
Debt to assets ratio.
%
%
Times interest earned.
times
times
Click if you would like to Show Work for this question:
Open Show Work
Exercise 13-9
Kinder Company has these comparative balance sheet data:
KINDER COMPANY
Balance Sheets
December 31
2014
2013
Cash
$ 36,210
$ 72,420
Accounts receivable (net)
168,980
144,840
Inventory
144,840
120,700
Plant assets (net)
482,800
434,520
$832,830
$772,480
Accounts payable
$ 120,700
$ 144,840
Mortgage payable (15%)
241,400
241,400
Common stock, $10 par
337,960
289,680
Retained earnings
132,770
96,560
$832,830
$772,480
Additional information for 2014:
1.
Net income was $32,000.
2.
Sales on account were $386,100. Sales returns and allowances amounted to $28,100.
3.
Cost of goods sold was $228,200.
4.
Net cash provided by operating activities was $57,600.
5.
Capital expenditures were $28,600, and cash dividends were $20,900.
Compute the following ratios at December 31, 2014. (Round all answers to 2 decimal places, e.g. 1.83.)
(a)
Current ratio.
:1
(b)
Accounts receivable turnover.
times
(c)
Average collection period.
days
(d)
Inventory turnover.
times
(e)
Days in inventory.
days
(f)
Cash debt coverage ratio.
times
(g)
Current cash debt coverage ratio.
times
(h)
Free cash flow.
...
Appendix BOrganizational CharMinitrexVP Marketing(Jon .docx
Appendix B
Organizational Char
Minitrex
VP Marketing
(Jon Bettman)
Director Sales
(Georges Degas)
VP Insurance
(Harold Blumfen)
VP Financing
(Mariella Hopkins)
CFO
Director IT
(Denny Khan)
Exercise 13-13
The condensed financial statements of Elliott Company for the years 2013 and 2014 are presented below.
ELLIOTT COMPANY
Balance Sheets
December 31 (in thousands)
2014
2013
Current assets
Cash and cash equivalents
$330
$360
Accounts receivable (net)
506
436
Inventory
519
449
Prepaid expenses
130
160
Total current assets
1,485
1,405
Property, plant, and equipment (net)
410
380
Investments
46
46
Intangibles and other assets
530
510
Total assets
$2,471
$2,341
Current liabilities
$856
$826
Long-term liabilities
539
439
Stockholders’ equity—common
1,076
1,076
Total liabilities and stockholders’ equity
$2,471
$2,341
ELLIOTT COMPANY
Income Statements
For the Year Ended December 31 (in thousands)
2014
2013
Sales revenue
$3,859
$3,519
Costs and expenses
Cost of goods sold
1,006
926
Selling & administrative expenses
2,400
2,330
Interest expense
10
20
Total costs and expenses
3,416
3,276
Income before income taxes
443
243
Income tax expense
177
97
Net income
$ 266
$ 146
Compute the following ratios for 2014 and 2013. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.)
(a)
Current ratio.
(b)
Inventory turnover. (Inventory on December 31, 2012, was $430.)
(c)
Profit margin.
(d)
Return on assets. (Assets on December 31, 2012, were $2,790.)
(e)
Return on common stockholders’ equity. (Equity on December 31, 2012, was $970.)
(f)
Debt to assets ratio.
(g)
Times interest earned.
2014
2013
Current ratio.
:1
:1
Inventory turnover.
Profit margin.
%
%
Return on assets.
%
%
Return on common stockholders’ equity.
%
%
Debt to assets ratio.
%
%
Times interest earned.
times
times
Click if you would like to Show Work for this question:
Open Show Work
Exercise 13-9
Kinder Company has these comparative balance sheet data:
KINDER COMPANY
Balance Sheets
December 31
2014
2013
Cash
$ 36,210
$ 72,420
Accounts receivable (net)
168,980
144,840
Inventory
144,840
120,700
Plant assets (net)
482,800
434,520
$832,830
$772,480
Accounts payable
$ 120,700
$ 144,840
Mortgage payable (15%)
241,400
241,400
Common stock, $10 par
337,960
289,680
Retained earnings
132,770
96,560
$832,830
$772,480
Additional information for 2014:
1.
Net income was $32,000.
2.
Sales on account were $386,100. Sales returns and allowances amounted to $28,100.
3.
Cost of goods sold was $228,200.
4.
Net cash provided by operating activities was $57,600.
5.
Capital expenditures were $28,600, and cash dividends were $20,900.
Compute the following ratios at December 31, 2014. (Round all answers to 2 decimal places, e.g. 1.83.)
(a)
Current ratio.
:1
(b)
Accounts receivable turnover.
times
(c)
Avera.
ACCT 221Midterm Problems1. Albert Corporation is author.docx
ACCT 221
Midterm Problems
1. Albert Corporation is authorized to issue 1,500,000 shares of $4 par value common stock. During
2013, its first year of operation, the company has the following stock transactions.
Jan. 15 Issued 500,000 shares of stock at $11 per share.
Jan.
30
The company’s attorney accepted 3,500 shares of common stock as payment for legal
services rendered in helping the company incorporate. The legal services are estimated to
have a value of $28,000.
July 2 Issued 100,000 shares of stock for land. The land had an asking price of $2,000,000. The
stock is currently selling on a national exchange at $14 per share.
Instructions
Journalize the transactions for Albert Corporation.
2. Vero Corporation has the following stockholders' equity accounts on January 1, 2013:
The company uses the cost method to account for treasury stock transactions. During 2013, the
following treasury stock transactions occurred:
March 1 Purchased 12,000 shares at $18 per share.
July 1 Sold 3,500 shares at $21 per share.
Sept 1 Sold 3,100 shares at $14 per share.
Instructions
Journalize the treasury stock transactions for 2013.
Due Date: Sunday, April 7 @ 11 p.m. ET submit via WebTycho Assignment Folder
1
Common Stock, $10 par value $1,500,000
Paid-in Capital in Excess of Par 200,000
Retained Earnings 500,000
Total Stockholders’ Equity $2,200,000
3. Domino Corporation was organized on January 1, 2011. During its first year, the corporation issued
20,000 shares of $5 par value preferred stock and 200,000 shares of $1 par value common stock. At
December 31, the company declared the following cash dividends:
Year Dividend
2011 5,000
2012 15,000
2013 35,000
Instructions
(a) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend
is 8% and cumulative.
(b) Journalize the declaration of the cash dividend at December 31, 2013.
4. On January 1, 2013, Alsace Corporation had $3,000,000 of $5 par value common stock outstanding
that was issued at par and retained earnings of $2,000,000. The company issued 250,000 shares of
common stock at $14 per share on July 1. On December 15, the board of directors declared a 15%
stock dividend to stockholders of record on December 31, 2013, payable on January 15, 2014. The
market value of Alsace Corporation stock was $18 per share on December 15 and $20 per share on
December 31. Net income for 2013 was $550,000.
Instructions
Journalize the issuance of stock on July 1, the declaration of the stock dividend on December 15,
2013, and the issuance of the stock dividend on January 15, 2014.
5. Prepare the journal entries for the following two independent situations:
(a) On January 1, 2013, Hathaway Corporation issued $300,000, 11%, 10-year bonds for $291,780.
The bonds were sold to yield an effective-interest rate of 12%. Prepare the journal entry that
Hathaway Corporation would make on January 1.
(b) Monaghan, Inc. redeemed .
HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021.pdf
HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 20212015 ($
thousands) 2021 2020 2019 2018 2017 2016 2015 Assets Cash $ 152 $ 201 $ 209 $ 213 $ 222 $
219 $ 226 Accounts receivable, net 1,093 1,148 1,039 797 702 665 469 Merchandise inventory
3,954 2,879 2,515 2,119 1,904 1,617 1,173 Other current assets 101 91 56 101 85 86 45 Long-
term investments 0 0 0 312 312 312 312 Plant assets, net 4,839 4,820 4,217 2,378 2,458 2,185
1,875 Total assets $ 10,139 $ 9,139 $ 8,036 $ 5,920 $ 5,683 $ 5,084 $ 4,100 Liabilities and
Equity Current liabilities 2,549 $ 2,144 $ 1,406 $ 1,170 $ 1,015 $ 960 $ 619 Long-term liabilities
2,725 2,374 2,310 1,072 1,096 1,186 890 Common stock 1,845 1,845 1,845 1,640 1,640 1,435
1,435 Other paid-in capital 461 461 461 410 410 359 359 Retained earnings 2,559 2,315 2,014
1,628 1,522 1,144 797 Total liabilities and equity $ 10,139 $ 9,139 $ 8,036 $ 5,920 $ 5,683 $
5,084 $ 4,100
Required: Complete the below table to calculate the trend percents for all components of both
statements using 2015 as the base year. Refer to the results from part 1. (a) Did sales grow
steadily over this period? (b) Did net income as a percent of sales grow over the past four years?
(c) Did inventory increase over this period?.
Income Statements and Balance Sheet Balance Sheet201220132014.pdf
Income Statements and Balance Sheet Balance Sheet
2012
2013
2014
Cash
$9,000
$7,282
$14,000
Short-term investments
48,600
20,000
71,632
Accounts receivable
351,200
632,160
878,000
Inventories
715,200
1,287,360
1,716,480
Total current assets
$1,124,000
$1,946,802
$2,680,112
Gross fixed assets
491,000
1,202,950
1,220,000
Less: Accumulated depreciation
146,200
263,160
383,160
Net fixed assets
$344,800
$939,790
$836,840
Total assets
$1,468,800
$2,886,592
$3,516,952
Liabilities and Equity
Accounts payable
$145,600
$324,000
$359,800
Notes payable
200,000
720,000
300,000
Accruals
136,000
284,960
380,000
Total current liabilities
$481,600
$1,328,960
$1,039,800
Long-term debt
323,432
1,000,000
500,000
Common stock (100,000 shares)
460,000
460,000
1,680,936
Retained earnings
203,768
97,632
296,216
Total equity
$663,768
$557,632
$1,977,152
Total liabilities and equity
$1,468,800
$2,886,592
$3,516,952
2. Suppose Congress changed the tax laws so that Berndt’s depreciation expenses doubled. No
changes in operations occurred. What would happen to reported profit and to net cash flow?
Income Statements and Balance Sheet Balance Sheet
2012
2013
2014
Cash
$9,000
$7,282
$14,000
Short-term investments
48,600
20,000
71,632
Accounts receivable
351,200
632,160
878,000
Inventories
715,200
1,287,360
1,716,480
Total current assets
$1,124,000
$1,946,802
$2,680,112
Gross fixed assets
491,000
1,202,950
1,220,000
Less: Accumulated depreciation
146,200
263,160
383,160
Net fixed assets
$344,800
$939,790
$836,840
Total assets
$1,468,800
$2,886,592
$3,516,952
Liabilities and Equity
Accounts payable
$145,600
$324,000
$359,800
Notes payable
200,000
720,000
300,000
Accruals
136,000
284,960
380,000
Total current liabilities
$481,600
$1,328,960
$1,039,800
Long-term debt
323,432
1,000,000
500,000
Common stock (100,000 shares)
460,000
460,000
1,680,936
Retained earnings
203,768
97,632
296,216
Total equity
$663,768
$557,632
$1,977,152
Total liabilities and equity
$1,468,800
$2,886,592
$3,516,952
Solution
2. Suppose Congress changed the tax laws so that Berndt’s depreciation expenses doubled. No
changes in operations occurred. What would happen to reported profit and to net cash flow?
Ans: Depreciation and amortization are not cash charges, so neither of them has an effect on a
firm’s reported profits.
*****.
Problem 12-9ACondensed financial data of Odgers Inc. follow.ODGE.docx
Problem 12-9A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.
Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 147,864
$ 88,572
Accounts receivable
160,674
69,540
Inventory
205,875
188,216
Prepaid expenses
51,972
47,580
Long-term investments
252,540
199,470
Plant assets
521,550
443,775
Accumulated depreciation
(91,500
)
(95,160
)
Total
$1,248,975
$941,993
Liabilities and Stockholders’ Equity
Accounts payable
$ 186,660
$ 123,159
Accrued expenses payable
30,195
38,430
Bonds payable
201,300
267,180
Common stock
402,600
320,250
Retained earnings
428,220
192,974
Total
$1,248,975
$941,993
ODGERS INC.
Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$710,882
Less:
Cost of goods sold
$247,892
Operating expenses, excluding depreciation
22,710
Depreciation expense
85,095
Income tax expense
49,922
Interest expense
8,656
Loss on disposal of plant assets
13,725
428,000
Net income
$ 282,882
Additional information:
1.
New plant assets costing $183,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $105,225 and accumulated depreciation of $88,755 were sold for $2,745 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $47,636 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
$
$
$
[removed]
.
Exercise 12-1Putnam Corporation had these transactions during 20.docx
Exercise 12-1
Putnam Corporation had these transactions during 2014.
Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities, financing activities, or noncash investing and financing activities.
(a)
Purchased a machine for $30,000, giving a long-term note in exchange.
(b)
Issued $50,000 par value common stock for cash.
(c)
Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
(d)
Declared and paid a cash dividend of $13,000.
(e)
Sold a long-term investment with a cost of $15,000 for $15,000 cash.
(f)
Collected $16,000 of accounts receivable.
(g)
Paid $18,000 on accounts payable.
IFRS 13-1
Ling Company reports the following information for the year ended December 31, 2014: sales revenue $1,000,000, cost of goods sold $700,000, operating expenses $200,000, and an unrealized gain on non-trading securities of $75,000. Prepare a statement of comprehensive income using the one-statement approach.
LING COMPANY
Statement of Comprehensive Income
For the Year Ended December 31, 2014
$
$
$
$
$
$
:
$
$
2.
All over-the-counter receipts are registered by three clerks who share a cash register with a single cash drawer.
3.
To minimize the risk of robbery, cash in excess of $100 is stored in an unlocked attaché case in the stock room until it is deposited in the bank.
4.
At the end of each day the total receipts are counted by the cashier on duty and reconciled to the cash register total.
5.
The company accountant makes the bank deposit and then records the day’s receipts.
Broadening Your Perspective 13-2
The financial statements of
The Hershey Company
and
Tootsie Roll
are presented below.
THE HERSHEY COMPANY
CONSOLIDATED STATEMENTS OF INCOME
For the years ended December 31,
2011
2010
2009
In thousands of dollars except per share amounts
Net Sales
$6,080,788
$5,671,009
$5,298,668
Costs and Expenses:
Cost of sales
3,548,896
3,255,801
3,245,531
Selling, marketing and administrative
1,477,750
1,426,477
1,208,672
Business realignment and impairment (credits) charges, net
(886
)
83,433
82,875
Total costs and expenses
5,025,760
4,765,711
4,537,078
Income before Interest and Income Taxes
1,055,028
905,298
761,590
Interest expense, net
92,183
96,434
90,459
Income before Income Taxes
962,845
808,864
671,131
Provision for income taxes
333,883
299,065
235,137
Net Income
$628,962
$509,799
$435,994
Net Income Per Share—Basic—Class B Common Stock
$2.58
$2.08
$1.77
Net Income Per Share—Diluted—Class B Common Stock
$2.56
$2.07
$1.77
Net Income Per Share—Basic—Common Stock
$2.85
$2.29
$1.97
Net Income Per Share—Diluted—Common Stock
$2.74
$2.21
$1.90
Cash Dividends Paid Per Share:
Common St ...
Comparative financial statements for Bent Stew Enterprises are shown.pdf
Comparative financial statements for Bent Stew Enterprises are shown below:
December 31
2014 2013
Assets
Current assets:
Cash $ 3,000 $ 800
Accounts receivable 8,500 6,000
Inventory 12,000 8,200
Prepaid expenses 1,400 900
Total current assets 24,900 15,900
Property, plant, and equipment, net 103,600 123,300
Intangible assets, net 64,000 47,000
Total assets $192,500 $186,200
Liabilities and Stockholders Equity
Current liabilities:
Accounts payable $ 11,000 $ 12,000
Other current liabilities 11,800 3,200
Total current liabilities 22,800 15,200
Long-term debt 120,000 128,000
Total liabilities 142,800 143,200
Stockholders equity:
Common stock 15,000 15,000
Additional paid-in capital 20,000 20,000
Retained earnings 14,700 8,000
Total stockholders equity 49,700 43,000
Total liabilities and stockholders equity $192,500 $186,200
Year Ended December 31
2014 2013
Sales $250,000 $ 230,000
Cost of goods sold 164,000 142,300
Gross margin 86,000 87,700
Operating expenses 64,000 54,000
Operating income 22,000 33,700
Interest expense 7,500 5,900
Earnings before income taxes 14,500 27,800
Income taxes 7,800 7,140
Net earnings $ 6,700 $ 20,660
Using horizontal analysis, how would you best describe the change in the companys operating
expenses from 2013 to 2014?.
Problems Problem 14-4AFinancial information for Ernie Bisho.docx
Problems:
Problem 14-4A
Financial information for Ernie Bishop Company is presented below.
ERNIE BISHOP COMPANY
Balance Sheets
December 31
Assets
2013
2012
Cash
$ 137,900
$ 128,050
Short-term investments
102,440
78,800
Receivables (net)
193,060
157,600
Inventory
246,250
265,950
Prepaid expenses
57,130
45,310
Land
256,100
256,100
Building and equipment (net)
330,960
344,750
$1,323,840
$1,276,560
Liabilities and Stockholders’ Equity
Notes payable
$197,000
197,000
Accounts payable
94,560
82,740
Accrued liabilities
86,680
78,800
Bonds payable, due 2016
295,500
295,500
Common stock, $10 par
394,000
394,000
Retained earnings
256,100
228,520
$1,323,840
$1,276,560
ERNIE BISHOP COMPANY
Income Statement
For the Years Ended December 31
2013
2012
Net sales
$1,690,260
$1,572,060
Cost of goods sold
1,203,670
1,132,750
Gross profit
486,590
439,310
Operating expenses
402,865
356,570
Net income
$ 83,725
$ 82,740
Additional information:
1.
Inventory at the beginning of 2012 was $232,460.
2.
Total assets at the beginning of 2012 were $1,245,040.
3.
No common stock transactions occurred during 2012 or 2013.
4.
All sales were on account.
5.
Receivables (net) at the beginning of 2012 were $173,360.
(a) Indicate, by using ratios, the change in liquidity and profitability of Ernie Bishop Company from 2012 to 2013. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all others to 1 decimal place, e.g. 6.8 or 6.8% .)
2012
2013
Change
LIQUIDITY
Current
:1
:1
Acid-test
:1
:1
Receivables turnover
times
times
Inventory turnover
times
times
PROFITABILITY
Profit margin
%
%
Asset turnover
times
times
Return on assets
%
%
Earnings per share
$
$
(b) Given below are three independent situations and a ratio that may be affected. For each situation, compute the affected ratio (1) as of December 31, 2013, and (2) as of December 31, 2014, after giving effect to the situation. Net income for 2014 was $98,500. Total assets on December 31, 2014, were $1,379,000.
Situation
Ratio
(1)
35,460 shares of common stock were sold at par on July 1, 2014.
Return on common stockholders’ equity
(2)
All of the notes payable were paid in 2014. The only change in liabilities was that the notes payable were paid.
Debt to total assets
(3)
Market price of common stock was $18 on December 31, 2013, and $24.63 on December 31, 2014.
Price-earnings ratio
2013
2014
Change
Return on common stockholders’ equity
%
%
Debt to total assets
%
%
Price-earnings ratio
times
times
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Problem 14-6A
The comparative statements of Beulah Company are presented below.
BEULAH COMPANY
Income Statement
For the Years Ended December 31
2014
2013
Net sales (all on account)
$501,000
...
Exercise 1 Identify each of the following as (a) an underl.docx
Exercise 1
Identify each of the following as (a) an underlying concept, (b) an objective of financial statement analysis, (c) a standard for financial statement analysis, (d) a source of information for financial statement analysis, or an executive compensation issue:
Past Ratios of the company
Linking performance to shareholder value
Average ratios of other companies in the same industry
Assessment of the future potential of an investment
Timeliness
Interim financial statements
SEC Form 10-K
Assessment of rick
Comparability
A company’s annual report
Exercise 7
Elm Company had total assets of $640,000 in 2012. $680,000 in 2013, and $760.000 in 2014.
In 2013, Elm had net income of $77,112 on revenues of $1,224,000.
In 2014, it had net income of $98,952 on revenues of $1,596,000.
Compute the profit margin, asset turnover, and return on assets for 2013 and 2014.
Comment on the apparent cause of the increase or decrease in profitability.
(Round to one decimal place).
Exercise 12
Components of Van Corporation’s income statement for the year ended December 31, 2014 follow.
Recast the income statement in multiple step form, including allocating income taxes to appropriate items (assume a 30 percent income tax rate) and showing earnings per share figures (200,000 shares outstanding).
(Round earnings per share figures to the nearest cent.)
Sales
$1,110,000
Cost of goods sold
(550,000)
Operating expenses
(225,000)
Restructuring
(110,000)
Total income taxes expense for period
(179,000)
Income from discontinued operations
160,000
Gain on disposal of discontinued operations
140,000
Extraordinary gain
72,000
Net income
$417,900
Earnings per share
$
2.09
Problem 1
Obras Corporation’s condensed comparative income statements and comparative balance sheets for 2014 and 2013 follow.
Obras Corporation
Comparative Income Statements
For the Years Ended December 31, 2014 and 2013
2014
2013
Net sales
$3,276,800
$3,146,400
Cost of goods sold
2,088,800
2,008,400
Gross margin
$1,188,000
$1,138,000
Operating expenses:
Selling expenses
$476,800
$518,000
Administrative expenses
447,200
423,200
Total operating expenses
$924,000
$941,200
Income from operations
$264,000
$196,800
Interest expense
65,600
39,200
Interest before income taxes
$198,400
$157,600
Income taxes expense
62,400
56,800
Net income
$136,000
$100,800
Earnings per share
$
3.40
$
2.52
Obras Corporation
Comparative Balance Sheets
December 31, 2014 and 2013
2014
2013
Assets
Cash
$81,200
$40,800
Accounts receivable (net)
235,600
229,200
Inventory
574,800
594,800
Property, plants and equipment (net)
750,000
720,000
Total assets
$1,641,600
$1,584,800
Liabilities and Stockholders’ Equity
Accounts payable
$267,000
$477,200
Notes payable (short-term)
200,000
400,000
Bonds payable
400,000
---
Common stock, $10 par value
400,000
400,000
Retained earnings
374,000
307,600
Total liabilities and st.
Homework Set 1Directions Answer the following questions on a se.docx
Homework Set 1
Directions: Answer the following questions on a separate document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in the course shell. This homework assignment is worth 100 points.
Use the following information for Questions 1 through 8:
Assume that you recently graduated and have just reported to work as an investment advisor at the one of the firms on Wall Street. You have been presented and asked to review the following Income Statement and Balance Sheets of one of the firm’s clients. Your boss has developed the following set of questions you must answer.
Income Statements and Balance Sheet
Balance Sheet
2012
2013
2014
Cash
$9,000
$7,282
$14,000
Short-term investments
48,600
20,000
71,632
Accounts receivable
351,200
632,160
878,000
Inventories
715,200
1,287,360
1,716,480
Total current assets
$1,124,000
$1,946,802
$2,680,112
Gross fixed assets
491,000
1,202,950
1,220,000
Less: Accumulated depreciation
146,200
263,160
383,160
Net fixed assets
$344,800
$939,790
$836,840
Total assets
$1,468,800
$2,886,592
$3,516,952
Liabilities and Equity
Accounts payable
$145,600
$324,000
$359,800
Notes payable
200,000
720,000
300,000
Accruals
136,000
284,960
380,000
Total current liabilities
$481,600
$1,328,960
$1,039,800
Long-term debt
323,432
1,000,000
500,000
Common stock (100,000 shares)
460,000
460,000
1,680,936
Retained earnings
203,768
97,632
296,216
Total equity
$663,768
$557,632
$1,977,152
Total liabilities and equity
$1,468,800
$2,886,592
$3,516,952
Income Statements
2012
2013
2014
Sales
$3,432,000
$5,834,400
$7,035,600
Cost of goods sold except depr.
2,864,000
4,980,000
5,800,000
Depreciation and amortization
18,900
116,960
120,000
Other expenses
340,000
720,000
612,960
Total operating costs
$3,222,900
$5,816,960
$6,532,960
EBIT
$209,100
$17,440
$502,640
Interest expense
62,500
176,000
80,000
EBT
$146,600
($158,560)
$422,640
Taxes (40%)
58,640
-63,424
169,056
Net income
$87,960
($95,136)
$253,584
Other Data
2012
2013
2014
Stock price
$8.50
$6.00
$12.17
Shares outstanding
100,000
100,000
250,000
EPS
$0.88
($0.95)
$1.104
DPS
$0.22
0.11
0.22
Tax rate
40%
40%
40%
Book value per share
$6.64
$5.58
$7.909
Lease payments
$40,000
$40,000
$40,000
Ratio Analysis
2012
2013
Industry Average
Current
2.3
1.5
2.7
Quick
0.8
0.5
1.0
Inventory turnover
4
4
6.1
Days sales outstanding
37.3
39.6
32.0
Fixed assets turnover
10
6.2
7.0
Total assets turnover
2.3
2
2.5
Debt ratio
35.60%
59.60%
32.0%
Liabilities-to-assets ratio
54.80%
80.70%
50.0%
TIE
3.3
0.1
6.2
EBITDA coverage
2.6
0.8
8.0
Profit margin
2.60%
−1.6%
3.6%
Basic earning power
14.20%
0.60%
17.8%
ROA
6.00%
−3.3%
9.0%
ROE
13.30%
−17.1%
17.9%
Price/Earnings (P/E).
Power point of Class 2 group 5 American Airlines
This is final power point in Financial Management course about American Airlines Company compared with Southwest Airlines Company
solve for general values of x sin6x+cos4x=-2Solution .pdf
solve for each of the equations. show all work for part b.
(a) 5x(2x-3)(x+7)=0
(b) (x-6)(x+4)= -9
Solution
a) 5x(2x-3)(x+7)=0
The given equation is written in thr form of three products hence it will be equal to zero if any of
the term equal to zero
i.e. 5x =0 OR 2x-3 = 0 OR x+7 = 0
Hence possible values of x are 0,3/2,-7
b) (x-6)(x+4)= -9
x^2+4x-6x-24 = -9
adding 24 both sides we get
x^2-2x=15
x^2-2x-15=0
The possible values are x = 5 OR -3
Hence there will be two solutions of this equation.
So if I declare I can d ouble ur investment in 2 yrs time. Then what.pdf
SO I used the forumla though I think there is something wrong.
P = 0.07 , n = 6 , y = 0 for a and y = 1 for b
Please help !!
Solution
a) (1-.07)^6= 0.6470 b)1-.6470= 0.353 c) 6*.07= 0.42 d) .07*.93* 6= .3906 I agree
with all your answers except the second. If the probability for no planes is 0.6470, then the
probability of at least one plane will be 1-.6470= 0.353. I assume your question was check your
answers. If it was something else please clarify..
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Similar to SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2013 and 2014.pdf
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.
Running head ETHICAL AND LEGAL ISSUES1ETHICAL AND LEGAL ISSUES.docx
Running head: ETHICAL AND LEGAL ISSUES 1
ETHICAL AND LEGAL ISSUES 2
Ethical and Legal Issues
Sherry L. Crowe
Argosy University
B6032 A01 Human Resource Management & Talent Development
Module 2, Assignment 2
Dr. Fuller
January 20, 2016
References
Print by: S
ACC/291 - 49133250 / Assignment: Week 5 Assignment
*Problem 12-9A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.
Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 111,504
$ 66,792
Accounts receivable
121,164
52,440
Inventory
155,250
141,933
Prepaid expenses
39,192
35,880
Long-term investments
190,440
150,420
Plant assets
393,300
334,650
Accumulated depreciation
(69,000 )
(71,760 )
Total
$941,850
$710,355
Liabilities and Stockholders’ Equity
Accounts payable
$ 140,760
$ 92,874
Accrued expenses payable
22,770
28,980
Bonds payable
151,800
201,480
Common stock
303,600
241,500
Retained earnings
322,920
145,521
Total
$941,850
$710,355
ODGERS INC.
Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$536,075
Less:
Cost of goods sold
$186,935
Operating expenses, excluding depreciation
17,126
Depreciation expense
64,170
Income tax expense
37,646
Interest expense
6,527
Loss on disposal of plant assets
10,350
322,754
Net income
$ 213,321
Additional information:
1.
New plant assets costing $138,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $79,350 and accumulated depreciation of $66,930 were sold for
$2,070 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $35,922 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
Cash Flows from Operating Activities<br>
Net Income
$
Adjustments to reconcile net income to
Net Cash Provided by Operating Activities<br>
Decrease in Accrued Expenses Payable$
Increase in Inventory
Increase in Accounts Receivable
Depreciation Expense
Loss on Disposal of Plant Assets
Increase in Prepaid Expenses
Increase in Accounts Payable
Net Cash Provided by Operating Activities<br>
Cash Flows from Investing Activities
Purchase of Investments
Purchase of Plant Assets
Sale of Plant Assets
Net Cash used by Investing Activities<br>
Cash Flows from Financing Activities
Redemption of Bonds
Sale of Common Stock
Payment of Cash Dividends
Net Cash used by Financing Activities<br>
Net Increase in Cash<br>
Cash at Beginning of Period<br>
Cash at End of Period
$
Question Attempts: 0 of 3 used
Copyright © 2000-2015 by John Wiley & Sons, Inc. or related companies. All rights reserved.
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ACC/291 - 49133250 / Assignment: Week 5 Assignment
*Problem 12-10A
Your answer is .
Exercise 13-13The condensed financial statements of Elliott Comp.docx
Exercise 13-13
The condensed financial statements of Elliott Company for the years 2013 and 2014 are presented below.
ELLIOTT COMPANY
Balance Sheets
December 31 (in thousands)
2014
2013
Current assets
Cash and cash equivalents
$330
$360
Accounts receivable (net)
506
436
Inventory
519
449
Prepaid expenses
130
160
Total current assets
1,485
1,405
Property, plant, and equipment (net)
410
380
Investments
46
46
Intangibles and other assets
530
510
Total assets
$2,471
$2,341
Current liabilities
$856
$826
Long-term liabilities
539
439
Stockholders’ equity—common
1,076
1,076
Total liabilities and stockholders’ equity
$2,471
$2,341
ELLIOTT COMPANY
Income Statements
For the Year Ended December 31 (in thousands)
2014
2013
Sales revenue
$3,859
$3,519
Costs and expenses
Cost of goods sold
1,006
926
Selling & administrative expenses
2,400
2,330
Interest expense
10
20
Total costs and expenses
3,416
3,276
Income before income taxes
443
243
Income tax expense
177
97
Net income
$ 266
$ 146
Compute the following ratios for 2014 and 2013. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.)
(a)
Current ratio.
(b)
Inventory turnover. (Inventory on December 31, 2012, was $430.)
(c)
Profit margin.
(d)
Return on assets. (Assets on December 31, 2012, were $2,790.)
(e)
Return on common stockholders’ equity. (Equity on December 31, 2012, was $970.)
(f)
Debt to assets ratio.
(g)
Times interest earned.
2014
2013
Current ratio.
:1
:1
Inventory turnover.
Profit margin.
%
%
Return on assets.
%
%
Return on common stockholders’ equity.
%
%
Debt to assets ratio.
%
%
Times interest earned.
times
times
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Exercise 13-9
Kinder Company has these comparative balance sheet data:
KINDER COMPANY
Balance Sheets
December 31
2014
2013
Cash
$ 36,210
$ 72,420
Accounts receivable (net)
168,980
144,840
Inventory
144,840
120,700
Plant assets (net)
482,800
434,520
$832,830
$772,480
Accounts payable
$ 120,700
$ 144,840
Mortgage payable (15%)
241,400
241,400
Common stock, $10 par
337,960
289,680
Retained earnings
132,770
96,560
$832,830
$772,480
Additional information for 2014:
1.
Net income was $32,000.
2.
Sales on account were $386,100. Sales returns and allowances amounted to $28,100.
3.
Cost of goods sold was $228,200.
4.
Net cash provided by operating activities was $57,600.
5.
Capital expenditures were $28,600, and cash dividends were $20,900.
Compute the following ratios at December 31, 2014. (Round all answers to 2 decimal places, e.g. 1.83.)
(a)
Current ratio.
:1
(b)
Accounts receivable turnover.
times
(c)
Average collection period.
days
(d)
Inventory turnover.
times
(e)
Days in inventory.
days
(f)
Cash debt coverage ratio.
times
(g)
Current cash debt coverage ratio.
times
(h)
Free cash flow.
...
Appendix BOrganizational CharMinitrexVP Marketing(Jon .docx
Appendix B
Organizational Char
Minitrex
VP Marketing
(Jon Bettman)
Director Sales
(Georges Degas)
VP Insurance
(Harold Blumfen)
VP Financing
(Mariella Hopkins)
CFO
Director IT
(Denny Khan)
Exercise 13-13
The condensed financial statements of Elliott Company for the years 2013 and 2014 are presented below.
ELLIOTT COMPANY
Balance Sheets
December 31 (in thousands)
2014
2013
Current assets
Cash and cash equivalents
$330
$360
Accounts receivable (net)
506
436
Inventory
519
449
Prepaid expenses
130
160
Total current assets
1,485
1,405
Property, plant, and equipment (net)
410
380
Investments
46
46
Intangibles and other assets
530
510
Total assets
$2,471
$2,341
Current liabilities
$856
$826
Long-term liabilities
539
439
Stockholders’ equity—common
1,076
1,076
Total liabilities and stockholders’ equity
$2,471
$2,341
ELLIOTT COMPANY
Income Statements
For the Year Ended December 31 (in thousands)
2014
2013
Sales revenue
$3,859
$3,519
Costs and expenses
Cost of goods sold
1,006
926
Selling & administrative expenses
2,400
2,330
Interest expense
10
20
Total costs and expenses
3,416
3,276
Income before income taxes
443
243
Income tax expense
177
97
Net income
$ 266
$ 146
Compute the following ratios for 2014 and 2013. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.)
(a)
Current ratio.
(b)
Inventory turnover. (Inventory on December 31, 2012, was $430.)
(c)
Profit margin.
(d)
Return on assets. (Assets on December 31, 2012, were $2,790.)
(e)
Return on common stockholders’ equity. (Equity on December 31, 2012, was $970.)
(f)
Debt to assets ratio.
(g)
Times interest earned.
2014
2013
Current ratio.
:1
:1
Inventory turnover.
Profit margin.
%
%
Return on assets.
%
%
Return on common stockholders’ equity.
%
%
Debt to assets ratio.
%
%
Times interest earned.
times
times
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Exercise 13-9
Kinder Company has these comparative balance sheet data:
KINDER COMPANY
Balance Sheets
December 31
2014
2013
Cash
$ 36,210
$ 72,420
Accounts receivable (net)
168,980
144,840
Inventory
144,840
120,700
Plant assets (net)
482,800
434,520
$832,830
$772,480
Accounts payable
$ 120,700
$ 144,840
Mortgage payable (15%)
241,400
241,400
Common stock, $10 par
337,960
289,680
Retained earnings
132,770
96,560
$832,830
$772,480
Additional information for 2014:
1.
Net income was $32,000.
2.
Sales on account were $386,100. Sales returns and allowances amounted to $28,100.
3.
Cost of goods sold was $228,200.
4.
Net cash provided by operating activities was $57,600.
5.
Capital expenditures were $28,600, and cash dividends were $20,900.
Compute the following ratios at December 31, 2014. (Round all answers to 2 decimal places, e.g. 1.83.)
(a)
Current ratio.
:1
(b)
Accounts receivable turnover.
times
(c)
Avera.
ACCT 221Midterm Problems1. Albert Corporation is author.docx
ACCT 221
Midterm Problems
1. Albert Corporation is authorized to issue 1,500,000 shares of $4 par value common stock. During
2013, its first year of operation, the company has the following stock transactions.
Jan. 15 Issued 500,000 shares of stock at $11 per share.
Jan.
30
The company’s attorney accepted 3,500 shares of common stock as payment for legal
services rendered in helping the company incorporate. The legal services are estimated to
have a value of $28,000.
July 2 Issued 100,000 shares of stock for land. The land had an asking price of $2,000,000. The
stock is currently selling on a national exchange at $14 per share.
Instructions
Journalize the transactions for Albert Corporation.
2. Vero Corporation has the following stockholders' equity accounts on January 1, 2013:
The company uses the cost method to account for treasury stock transactions. During 2013, the
following treasury stock transactions occurred:
March 1 Purchased 12,000 shares at $18 per share.
July 1 Sold 3,500 shares at $21 per share.
Sept 1 Sold 3,100 shares at $14 per share.
Instructions
Journalize the treasury stock transactions for 2013.
Due Date: Sunday, April 7 @ 11 p.m. ET submit via WebTycho Assignment Folder
1
Common Stock, $10 par value $1,500,000
Paid-in Capital in Excess of Par 200,000
Retained Earnings 500,000
Total Stockholders’ Equity $2,200,000
3. Domino Corporation was organized on January 1, 2011. During its first year, the corporation issued
20,000 shares of $5 par value preferred stock and 200,000 shares of $1 par value common stock. At
December 31, the company declared the following cash dividends:
Year Dividend
2011 5,000
2012 15,000
2013 35,000
Instructions
(a) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend
is 8% and cumulative.
(b) Journalize the declaration of the cash dividend at December 31, 2013.
4. On January 1, 2013, Alsace Corporation had $3,000,000 of $5 par value common stock outstanding
that was issued at par and retained earnings of $2,000,000. The company issued 250,000 shares of
common stock at $14 per share on July 1. On December 15, the board of directors declared a 15%
stock dividend to stockholders of record on December 31, 2013, payable on January 15, 2014. The
market value of Alsace Corporation stock was $18 per share on December 15 and $20 per share on
December 31. Net income for 2013 was $550,000.
Instructions
Journalize the issuance of stock on July 1, the declaration of the stock dividend on December 15,
2013, and the issuance of the stock dividend on January 15, 2014.
5. Prepare the journal entries for the following two independent situations:
(a) On January 1, 2013, Hathaway Corporation issued $300,000, 11%, 10-year bonds for $291,780.
The bonds were sold to yield an effective-interest rate of 12%. Prepare the journal entry that
Hathaway Corporation would make on January 1.
(b) Monaghan, Inc. redeemed .
HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021.pdf
HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 20212015 ($
thousands) 2021 2020 2019 2018 2017 2016 2015 Assets Cash $ 152 $ 201 $ 209 $ 213 $ 222 $
219 $ 226 Accounts receivable, net 1,093 1,148 1,039 797 702 665 469 Merchandise inventory
3,954 2,879 2,515 2,119 1,904 1,617 1,173 Other current assets 101 91 56 101 85 86 45 Long-
term investments 0 0 0 312 312 312 312 Plant assets, net 4,839 4,820 4,217 2,378 2,458 2,185
1,875 Total assets $ 10,139 $ 9,139 $ 8,036 $ 5,920 $ 5,683 $ 5,084 $ 4,100 Liabilities and
Equity Current liabilities 2,549 $ 2,144 $ 1,406 $ 1,170 $ 1,015 $ 960 $ 619 Long-term liabilities
2,725 2,374 2,310 1,072 1,096 1,186 890 Common stock 1,845 1,845 1,845 1,640 1,640 1,435
1,435 Other paid-in capital 461 461 461 410 410 359 359 Retained earnings 2,559 2,315 2,014
1,628 1,522 1,144 797 Total liabilities and equity $ 10,139 $ 9,139 $ 8,036 $ 5,920 $ 5,683 $
5,084 $ 4,100
Required: Complete the below table to calculate the trend percents for all components of both
statements using 2015 as the base year. Refer to the results from part 1. (a) Did sales grow
steadily over this period? (b) Did net income as a percent of sales grow over the past four years?
(c) Did inventory increase over this period?.
Income Statements and Balance Sheet Balance Sheet201220132014.pdf
Income Statements and Balance Sheet Balance Sheet
2012
2013
2014
Cash
$9,000
$7,282
$14,000
Short-term investments
48,600
20,000
71,632
Accounts receivable
351,200
632,160
878,000
Inventories
715,200
1,287,360
1,716,480
Total current assets
$1,124,000
$1,946,802
$2,680,112
Gross fixed assets
491,000
1,202,950
1,220,000
Less: Accumulated depreciation
146,200
263,160
383,160
Net fixed assets
$344,800
$939,790
$836,840
Total assets
$1,468,800
$2,886,592
$3,516,952
Liabilities and Equity
Accounts payable
$145,600
$324,000
$359,800
Notes payable
200,000
720,000
300,000
Accruals
136,000
284,960
380,000
Total current liabilities
$481,600
$1,328,960
$1,039,800
Long-term debt
323,432
1,000,000
500,000
Common stock (100,000 shares)
460,000
460,000
1,680,936
Retained earnings
203,768
97,632
296,216
Total equity
$663,768
$557,632
$1,977,152
Total liabilities and equity
$1,468,800
$2,886,592
$3,516,952
2. Suppose Congress changed the tax laws so that Berndt’s depreciation expenses doubled. No
changes in operations occurred. What would happen to reported profit and to net cash flow?
Income Statements and Balance Sheet Balance Sheet
2012
2013
2014
Cash
$9,000
$7,282
$14,000
Short-term investments
48,600
20,000
71,632
Accounts receivable
351,200
632,160
878,000
Inventories
715,200
1,287,360
1,716,480
Total current assets
$1,124,000
$1,946,802
$2,680,112
Gross fixed assets
491,000
1,202,950
1,220,000
Less: Accumulated depreciation
146,200
263,160
383,160
Net fixed assets
$344,800
$939,790
$836,840
Total assets
$1,468,800
$2,886,592
$3,516,952
Liabilities and Equity
Accounts payable
$145,600
$324,000
$359,800
Notes payable
200,000
720,000
300,000
Accruals
136,000
284,960
380,000
Total current liabilities
$481,600
$1,328,960
$1,039,800
Long-term debt
323,432
1,000,000
500,000
Common stock (100,000 shares)
460,000
460,000
1,680,936
Retained earnings
203,768
97,632
296,216
Total equity
$663,768
$557,632
$1,977,152
Total liabilities and equity
$1,468,800
$2,886,592
$3,516,952
Solution
2. Suppose Congress changed the tax laws so that Berndt’s depreciation expenses doubled. No
changes in operations occurred. What would happen to reported profit and to net cash flow?
Ans: Depreciation and amortization are not cash charges, so neither of them has an effect on a
firm’s reported profits.
*****.
Problem 12-9ACondensed financial data of Odgers Inc. follow.ODGE.docx
Problem 12-9A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.
Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 147,864
$ 88,572
Accounts receivable
160,674
69,540
Inventory
205,875
188,216
Prepaid expenses
51,972
47,580
Long-term investments
252,540
199,470
Plant assets
521,550
443,775
Accumulated depreciation
(91,500
)
(95,160
)
Total
$1,248,975
$941,993
Liabilities and Stockholders’ Equity
Accounts payable
$ 186,660
$ 123,159
Accrued expenses payable
30,195
38,430
Bonds payable
201,300
267,180
Common stock
402,600
320,250
Retained earnings
428,220
192,974
Total
$1,248,975
$941,993
ODGERS INC.
Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$710,882
Less:
Cost of goods sold
$247,892
Operating expenses, excluding depreciation
22,710
Depreciation expense
85,095
Income tax expense
49,922
Interest expense
8,656
Loss on disposal of plant assets
13,725
428,000
Net income
$ 282,882
Additional information:
1.
New plant assets costing $183,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $105,225 and accumulated depreciation of $88,755 were sold for $2,745 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $47,636 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
$
$
$
[removed]
.
Exercise 12-1Putnam Corporation had these transactions during 20.docx
Exercise 12-1
Putnam Corporation had these transactions during 2014.
Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities, financing activities, or noncash investing and financing activities.
(a)
Purchased a machine for $30,000, giving a long-term note in exchange.
(b)
Issued $50,000 par value common stock for cash.
(c)
Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
(d)
Declared and paid a cash dividend of $13,000.
(e)
Sold a long-term investment with a cost of $15,000 for $15,000 cash.
(f)
Collected $16,000 of accounts receivable.
(g)
Paid $18,000 on accounts payable.
IFRS 13-1
Ling Company reports the following information for the year ended December 31, 2014: sales revenue $1,000,000, cost of goods sold $700,000, operating expenses $200,000, and an unrealized gain on non-trading securities of $75,000. Prepare a statement of comprehensive income using the one-statement approach.
LING COMPANY
Statement of Comprehensive Income
For the Year Ended December 31, 2014
$
$
$
$
$
$
:
$
$
2.
All over-the-counter receipts are registered by three clerks who share a cash register with a single cash drawer.
3.
To minimize the risk of robbery, cash in excess of $100 is stored in an unlocked attaché case in the stock room until it is deposited in the bank.
4.
At the end of each day the total receipts are counted by the cashier on duty and reconciled to the cash register total.
5.
The company accountant makes the bank deposit and then records the day’s receipts.
Broadening Your Perspective 13-2
The financial statements of
The Hershey Company
and
Tootsie Roll
are presented below.
THE HERSHEY COMPANY
CONSOLIDATED STATEMENTS OF INCOME
For the years ended December 31,
2011
2010
2009
In thousands of dollars except per share amounts
Net Sales
$6,080,788
$5,671,009
$5,298,668
Costs and Expenses:
Cost of sales
3,548,896
3,255,801
3,245,531
Selling, marketing and administrative
1,477,750
1,426,477
1,208,672
Business realignment and impairment (credits) charges, net
(886
)
83,433
82,875
Total costs and expenses
5,025,760
4,765,711
4,537,078
Income before Interest and Income Taxes
1,055,028
905,298
761,590
Interest expense, net
92,183
96,434
90,459
Income before Income Taxes
962,845
808,864
671,131
Provision for income taxes
333,883
299,065
235,137
Net Income
$628,962
$509,799
$435,994
Net Income Per Share—Basic—Class B Common Stock
$2.58
$2.08
$1.77
Net Income Per Share—Diluted—Class B Common Stock
$2.56
$2.07
$1.77
Net Income Per Share—Basic—Common Stock
$2.85
$2.29
$1.97
Net Income Per Share—Diluted—Common Stock
$2.74
$2.21
$1.90
Cash Dividends Paid Per Share:
Common St ...
Comparative financial statements for Bent Stew Enterprises are shown.pdf
Comparative financial statements for Bent Stew Enterprises are shown below:
December 31
2014 2013
Assets
Current assets:
Cash $ 3,000 $ 800
Accounts receivable 8,500 6,000
Inventory 12,000 8,200
Prepaid expenses 1,400 900
Total current assets 24,900 15,900
Property, plant, and equipment, net 103,600 123,300
Intangible assets, net 64,000 47,000
Total assets $192,500 $186,200
Liabilities and Stockholders Equity
Current liabilities:
Accounts payable $ 11,000 $ 12,000
Other current liabilities 11,800 3,200
Total current liabilities 22,800 15,200
Long-term debt 120,000 128,000
Total liabilities 142,800 143,200
Stockholders equity:
Common stock 15,000 15,000
Additional paid-in capital 20,000 20,000
Retained earnings 14,700 8,000
Total stockholders equity 49,700 43,000
Total liabilities and stockholders equity $192,500 $186,200
Year Ended December 31
2014 2013
Sales $250,000 $ 230,000
Cost of goods sold 164,000 142,300
Gross margin 86,000 87,700
Operating expenses 64,000 54,000
Operating income 22,000 33,700
Interest expense 7,500 5,900
Earnings before income taxes 14,500 27,800
Income taxes 7,800 7,140
Net earnings $ 6,700 $ 20,660
Using horizontal analysis, how would you best describe the change in the companys operating
expenses from 2013 to 2014?.
Problems Problem 14-4AFinancial information for Ernie Bisho.docx
Problems:
Problem 14-4A
Financial information for Ernie Bishop Company is presented below.
ERNIE BISHOP COMPANY
Balance Sheets
December 31
Assets
2013
2012
Cash
$ 137,900
$ 128,050
Short-term investments
102,440
78,800
Receivables (net)
193,060
157,600
Inventory
246,250
265,950
Prepaid expenses
57,130
45,310
Land
256,100
256,100
Building and equipment (net)
330,960
344,750
$1,323,840
$1,276,560
Liabilities and Stockholders’ Equity
Notes payable
$197,000
197,000
Accounts payable
94,560
82,740
Accrued liabilities
86,680
78,800
Bonds payable, due 2016
295,500
295,500
Common stock, $10 par
394,000
394,000
Retained earnings
256,100
228,520
$1,323,840
$1,276,560
ERNIE BISHOP COMPANY
Income Statement
For the Years Ended December 31
2013
2012
Net sales
$1,690,260
$1,572,060
Cost of goods sold
1,203,670
1,132,750
Gross profit
486,590
439,310
Operating expenses
402,865
356,570
Net income
$ 83,725
$ 82,740
Additional information:
1.
Inventory at the beginning of 2012 was $232,460.
2.
Total assets at the beginning of 2012 were $1,245,040.
3.
No common stock transactions occurred during 2012 or 2013.
4.
All sales were on account.
5.
Receivables (net) at the beginning of 2012 were $173,360.
(a) Indicate, by using ratios, the change in liquidity and profitability of Ernie Bishop Company from 2012 to 2013. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all others to 1 decimal place, e.g. 6.8 or 6.8% .)
2012
2013
Change
LIQUIDITY
Current
:1
:1
Acid-test
:1
:1
Receivables turnover
times
times
Inventory turnover
times
times
PROFITABILITY
Profit margin
%
%
Asset turnover
times
times
Return on assets
%
%
Earnings per share
$
$
(b) Given below are three independent situations and a ratio that may be affected. For each situation, compute the affected ratio (1) as of December 31, 2013, and (2) as of December 31, 2014, after giving effect to the situation. Net income for 2014 was $98,500. Total assets on December 31, 2014, were $1,379,000.
Situation
Ratio
(1)
35,460 shares of common stock were sold at par on July 1, 2014.
Return on common stockholders’ equity
(2)
All of the notes payable were paid in 2014. The only change in liabilities was that the notes payable were paid.
Debt to total assets
(3)
Market price of common stock was $18 on December 31, 2013, and $24.63 on December 31, 2014.
Price-earnings ratio
2013
2014
Change
Return on common stockholders’ equity
%
%
Debt to total assets
%
%
Price-earnings ratio
times
times
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Problem 14-6A
The comparative statements of Beulah Company are presented below.
BEULAH COMPANY
Income Statement
For the Years Ended December 31
2014
2013
Net sales (all on account)
$501,000
...
Exercise 1 Identify each of the following as (a) an underl.docx
Exercise 1
Identify each of the following as (a) an underlying concept, (b) an objective of financial statement analysis, (c) a standard for financial statement analysis, (d) a source of information for financial statement analysis, or an executive compensation issue:
Past Ratios of the company
Linking performance to shareholder value
Average ratios of other companies in the same industry
Assessment of the future potential of an investment
Timeliness
Interim financial statements
SEC Form 10-K
Assessment of rick
Comparability
A company’s annual report
Exercise 7
Elm Company had total assets of $640,000 in 2012. $680,000 in 2013, and $760.000 in 2014.
In 2013, Elm had net income of $77,112 on revenues of $1,224,000.
In 2014, it had net income of $98,952 on revenues of $1,596,000.
Compute the profit margin, asset turnover, and return on assets for 2013 and 2014.
Comment on the apparent cause of the increase or decrease in profitability.
(Round to one decimal place).
Exercise 12
Components of Van Corporation’s income statement for the year ended December 31, 2014 follow.
Recast the income statement in multiple step form, including allocating income taxes to appropriate items (assume a 30 percent income tax rate) and showing earnings per share figures (200,000 shares outstanding).
(Round earnings per share figures to the nearest cent.)
Sales
$1,110,000
Cost of goods sold
(550,000)
Operating expenses
(225,000)
Restructuring
(110,000)
Total income taxes expense for period
(179,000)
Income from discontinued operations
160,000
Gain on disposal of discontinued operations
140,000
Extraordinary gain
72,000
Net income
$417,900
Earnings per share
$
2.09
Problem 1
Obras Corporation’s condensed comparative income statements and comparative balance sheets for 2014 and 2013 follow.
Obras Corporation
Comparative Income Statements
For the Years Ended December 31, 2014 and 2013
2014
2013
Net sales
$3,276,800
$3,146,400
Cost of goods sold
2,088,800
2,008,400
Gross margin
$1,188,000
$1,138,000
Operating expenses:
Selling expenses
$476,800
$518,000
Administrative expenses
447,200
423,200
Total operating expenses
$924,000
$941,200
Income from operations
$264,000
$196,800
Interest expense
65,600
39,200
Interest before income taxes
$198,400
$157,600
Income taxes expense
62,400
56,800
Net income
$136,000
$100,800
Earnings per share
$
3.40
$
2.52
Obras Corporation
Comparative Balance Sheets
December 31, 2014 and 2013
2014
2013
Assets
Cash
$81,200
$40,800
Accounts receivable (net)
235,600
229,200
Inventory
574,800
594,800
Property, plants and equipment (net)
750,000
720,000
Total assets
$1,641,600
$1,584,800
Liabilities and Stockholders’ Equity
Accounts payable
$267,000
$477,200
Notes payable (short-term)
200,000
400,000
Bonds payable
400,000
---
Common stock, $10 par value
400,000
400,000
Retained earnings
374,000
307,600
Total liabilities and st.
Homework Set 1Directions Answer the following questions on a se.docx
Homework Set 1
Directions: Answer the following questions on a separate document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in the course shell. This homework assignment is worth 100 points.
Use the following information for Questions 1 through 8:
Assume that you recently graduated and have just reported to work as an investment advisor at the one of the firms on Wall Street. You have been presented and asked to review the following Income Statement and Balance Sheets of one of the firm’s clients. Your boss has developed the following set of questions you must answer.
Income Statements and Balance Sheet
Balance Sheet
2012
2013
2014
Cash
$9,000
$7,282
$14,000
Short-term investments
48,600
20,000
71,632
Accounts receivable
351,200
632,160
878,000
Inventories
715,200
1,287,360
1,716,480
Total current assets
$1,124,000
$1,946,802
$2,680,112
Gross fixed assets
491,000
1,202,950
1,220,000
Less: Accumulated depreciation
146,200
263,160
383,160
Net fixed assets
$344,800
$939,790
$836,840
Total assets
$1,468,800
$2,886,592
$3,516,952
Liabilities and Equity
Accounts payable
$145,600
$324,000
$359,800
Notes payable
200,000
720,000
300,000
Accruals
136,000
284,960
380,000
Total current liabilities
$481,600
$1,328,960
$1,039,800
Long-term debt
323,432
1,000,000
500,000
Common stock (100,000 shares)
460,000
460,000
1,680,936
Retained earnings
203,768
97,632
296,216
Total equity
$663,768
$557,632
$1,977,152
Total liabilities and equity
$1,468,800
$2,886,592
$3,516,952
Income Statements
2012
2013
2014
Sales
$3,432,000
$5,834,400
$7,035,600
Cost of goods sold except depr.
2,864,000
4,980,000
5,800,000
Depreciation and amortization
18,900
116,960
120,000
Other expenses
340,000
720,000
612,960
Total operating costs
$3,222,900
$5,816,960
$6,532,960
EBIT
$209,100
$17,440
$502,640
Interest expense
62,500
176,000
80,000
EBT
$146,600
($158,560)
$422,640
Taxes (40%)
58,640
-63,424
169,056
Net income
$87,960
($95,136)
$253,584
Other Data
2012
2013
2014
Stock price
$8.50
$6.00
$12.17
Shares outstanding
100,000
100,000
250,000
EPS
$0.88
($0.95)
$1.104
DPS
$0.22
0.11
0.22
Tax rate
40%
40%
40%
Book value per share
$6.64
$5.58
$7.909
Lease payments
$40,000
$40,000
$40,000
Ratio Analysis
2012
2013
Industry Average
Current
2.3
1.5
2.7
Quick
0.8
0.5
1.0
Inventory turnover
4
4
6.1
Days sales outstanding
37.3
39.6
32.0
Fixed assets turnover
10
6.2
7.0
Total assets turnover
2.3
2
2.5
Debt ratio
35.60%
59.60%
32.0%
Liabilities-to-assets ratio
54.80%
80.70%
50.0%
TIE
3.3
0.1
6.2
EBITDA coverage
2.6
0.8
8.0
Profit margin
2.60%
−1.6%
3.6%
Basic earning power
14.20%
0.60%
17.8%
ROA
6.00%
−3.3%
9.0%
ROE
13.30%
−17.1%
17.9%
Price/Earnings (P/E).
Power point of Class 2 group 5 American Airlines
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solve for general values of x sin6x+cos4x=-2Solution .pdf
solve for each of the equations. show all work for part b.
(a) 5x(2x-3)(x+7)=0
(b) (x-6)(x+4)= -9
Solution
a) 5x(2x-3)(x+7)=0
The given equation is written in thr form of three products hence it will be equal to zero if any of
the term equal to zero
i.e. 5x =0 OR 2x-3 = 0 OR x+7 = 0
Hence possible values of x are 0,3/2,-7
b) (x-6)(x+4)= -9
x^2+4x-6x-24 = -9
adding 24 both sides we get
x^2-2x=15
x^2-2x-15=0
The possible values are x = 5 OR -3
Hence there will be two solutions of this equation.
So if I declare I can d ouble ur investment in 2 yrs time. Then what.pdf
SO I used the forumla though I think there is something wrong.
P = 0.07 , n = 6 , y = 0 for a and y = 1 for b
Please help !!
Solution
a) (1-.07)^6= 0.6470 b)1-.6470= 0.353 c) 6*.07= 0.42 d) .07*.93* 6= .3906 I agree
with all your answers except the second. If the probability for no planes is 0.6470, then the
probability of at least one plane will be 1-.6470= 0.353. I assume your question was check your
answers. If it was something else please clarify..
So I attempted drawing the new signal below. It is reflected, shifte.pdf
So I am running a matlab code for the Gauss-Seidel method and I keep getting returned the
values for x1, x2 and x3 being NaN where it converges and I should be getting values. Could
someone show me what I am missing?
my code is this:
C=[1 -(1/3) -2,0 5 1, -6 1 2];
D=[5,10,-10];
%% Part 2: Gauss-Seidel
n=1; %index start
tol=100; %initial value for tolerance
Tol=1e-6; %desired end tolerance
x1(1)=1; %initial guesses
x2(1)=1;
x3(1)=1;
while tol>Tol
x1(n+1)=(1/1)*(-(-1/3)*x2(n)-(-2)*x3(n)+5);
x2(n+1)=(1/5)*(-0*x1(n+1)-1*x3(n)+10);
x3(n+1)=(1/2)*(-(-6)*x1(n+1)-1*x2(n+1)-10);
tol1=abs(x1(n+1)-x1(n));
tol2=abs(x2(n+1)-x2(n));
tol3=abs(x3(n+1)-x3(n));
tol=max([tol1;tol2;tol3])
n=n+1;
end
n-1
x1(end)
x2(end)
x3(end)
This is what I am getting:
ans =
395
ans =
NaN
ans =
NaN
ans =
NaN
>>
I would really appreciate the help, thank you.
Solution
Its to be noted that gauss -siedel method converges only if absolute value of largest coefficient is
greater than some of absolute values of remaining coefficients.
so, its not applicable to the above equations.
solution for Sam eastonSolution Sam Easton i.pdf
solution dy/dx=e^y+x+e^y-x dy/dx equls to e two the power y+x plus e two the power y-x
Solution
You need to factor out [e^y] to the right side such that:
[(dy)(dx) = e^y(e^x + e^(-x))]
You need to separate the variables x and y, hence, you need to divide by [e^y] and you need to
multiply by [dx] such that:
[(dy)/(e^y) =(e^x + e^(-x)) dx]
You need to integrate both sides such that:
[int (dy)/(e^y) = int (e^x + e^(-x)) dx]
You need to use the property of linearity of integral to the right such that:
[-e^(-y) = int e^x dx + int e^(-x) dx]
[-e^(-y) = e^x - e^(-x) + c]
[e^(-y) =e^(-x) - e^x - c]
You need to solve for y, hence, you need to take logarithms both sides such that:
[ln (e^(-y)) = ln (e^(-x) - e^x - c)]
[-y*ln e = ln (e^(-x) - e^x - c)]
Since [ln e = 1] yields:
[-y = ln (e^(-x) - e^x - c) => y = -ln (e^(-x) - e^x - c)]
[y = ln (e^(-x) - e^x - c)^(-1) => y = ln (1/(e^(-x) - e^x - c))]
Hence, evaluating the solution to the first order non-linear differential equation yields [y = ln
(1/(e^(-x) - e^x - c)).].
Soft the phrases pertaining to pure substances and mixtures as eithe.pdf
Soft drinks at a local gas station are available in the following sizes: tanker, mega tanker, and
ultra tanker. This is an example of what type of data?
a. nominal
b. ordinal
c. interval
d. ratio
e. none of the above
Solution
Since nominal basically refers to categorically discrete data, answer is a. nominal.
Social Security Paper (2–3 pages)Research the development and admi.pdf
Social Security Paper (2–3 pages) Research the development and administration of the U.S.
Social Security program. Include its history, current structure, and calculation of benefits; also,
include other benefits available through the program. The Social Security paper is worth 10
percent of your final grade.
Solution
Social Security paper focuses on how economic and social forces an theier relationship with
public problems and programs affect the decision of public policy makers. The research
classifies it into five stages :- problem identification, option development, passage of new laws
or development of new procedures, implementation, and evaluation.
It has many benefits to the people around in U.S .Social Security benefits protect the aged from
poverty. The character of Social Security program involves a balancing of protection and
distortion and structure of Income Tax System. U.S. economy situation has created a long-term
effect in many of the public organizations and departments
A Historical View :- Social security, the federal retirement system, is one of the most popular
government programs in United States history. Today, Social Security benefits are the backbone
of the nation\'s retirement income system. The long road to the successful development of social
security began in 1935. Before 1935, very few workers received job pensions. Those workers
that were covered never received benefits because they were not guaranteed. But now the social
security programs have been improved.
Sodas in a can are supposed to contain an average 12 oz. This partic.pdf
Sodas and high-sugar foods should not be sold in publicschool vending machines
Most students get money from their parents. They take the money totheir schools and use
it for their consumption. The thing which welay eyes most often at school is a vending machine.
It sells thesweet foods and drinks that students like most. It isconvenient to be able to buy these
products for less than twodollars, but these are very unwholesome. Today, the numbers
ofchildren, who are having cavities, obesity, and bone fractures bysmall accidents, are increasing
because of sodas and high-sugarfoods.
Children tend to have cavities. That is because foods includingsugar and a soda are being
consumed two quarts per day. The reasonwhy these kinds of children exist is the advertising
effect ofCoca-Cola. The Coca-Cola company aims at least 25 % of consumptionevery year.
Therefore, this company is increasing young children ascustomers for increasing efficiently. A
soda has strong acidity, soa tooth melts when it soaked in the soda. This drink beginsto melt a
tooth in one minute. This strong acid drink will be thecause of a cavity. Moreover, the
probability that the students whodoesn\'t blush their teeth will be a cavity is very high.
Obesity is a huge problem in the United States right now. Manypeople believe that the
cause of obesity is a fast food likeMcDonald, but sodas and high-sugar foods in vending
machines arealso the cause of obesity. A fruit juice, for example, an orangejuice is healthier than
a soft drink; however, the orange juice isactually the high-sugar and high-calorie beverage. If the
studentsdo not exercise after drinking this kind of beverage, they have apossibility to become
obesity. By the way, American Institute ofMedicine assumes that a commercial of a food scarce
in thenutritive value related to overweight by the high calorie whichmade the child a target, so
USAIM asks self-imposed control orintervention of the U.S. government. For obesity
measure,University of Chicago agrees that public schools should not selldrinks with a lot of
sugar and the milk which fat is not removed.Big eleven traders such as McDonald and Pepsi
Company agreed tostop advertising junk food to less than 12-year-oldchildren.
Born fracture by sodas and soft drinks is increasing inthe past 30 years. According to Journal of
Adolescent Health in1994, 76 girls and 51 boys were a born fracture by the soft drinksand high-
calorie beverages. The soft drinks make the bone fracturerate of girls triple, and Coca-Cola
makes the bone fracture rate ofquintuple. From this result, the girls’ bone densities thatdrink
Coca-Cola are low. In my middle school and high school manystudents were in plaster because
of little exercises and smallaccidents. Thus, sodas and soft drinks have bad influence on
ourbones.
Cavities, obesity, and bone fractures by sodas andhigh-sugar foods are increasing between the
children because of thevending machines that are located in their schools. Therefore, Ithink it is.
Social Security Paper (2–3 pages) Research the development and admin.pdf
Social Security has revenues of $1.8 trillion and expenditures of $1.3 trillion. The nonsocial
Security budget has revenue of $2.1 trillion and expenditures of $2.4 trillion. The official budget
will report a _______________ (deficit/surplus) of $___________________. The national debt
will ____________ (rise/ fall) by $______________.
Answer True or False for each of the following.
In recent years government debt grew much faster than GDP.
Conservative economists blame repealing Glass-Steagall for the financial crisis.
In the last few years the US has run the largest nominal deficits in US history.
Foreigners own more of the national debt today than 40 years ago
The Great Recession results in part from rapidly rising oil prices.
Subprime mortgages are those made at interest rates below the prime rate.
Economists agree that de-regulation lay behind the financial crisis.
Credit deposit swaps are mortgage based derivatives.
Social Security runs completely out of money and can’t pay benefits by 2018.
The national debt to GDP ratio in the U.S. has never been higher than right now.
Solution
Surplus
$0.2 trillion
fall
$0.2 trillion
True
False
True
True
False
True
True
False
True
False.
Social media facilitate engaging with online communities to generate.pdf
Social comparison is the basic foundation of which theory?
Equity
Expectancy
Reinforcement
Goal setting
ERG
ABC Manufacturing is able to employ two persons as one by having one person work mornings
and the other person work afternoons on the same job. ABC is reaping the benefits of:
job sharing.
a compressed work week.
telecommuting.
flextime.
flexible working hours.
Joanna likes attention and is driven by seeking influence over others. According to McClelland,
Joanna has a high need for _____________.
self esteem
power
affiliation
achievement
relatedness
Unfortunately, expectancy theory has not received any research follow-up and hence, it is not
practical.
True
False
According to Maslow\'s needs hierarchy, the lower-order needs are esteem and social.
True
False
High-performance teams have strong core values that help the team members guide their
attitudes and behaviors in directions consistent with the team\'s purpose.
True
False
Examples of Herzberg\'s hygiene factors include organizational policies, quality of supervision,
working conditions, base wage or salary, relationship with peers and subordinates, status, and
security.
True
False
Gain sharing decreases work motivation because of pay-for-performance incentives and a greater
sense of personal responsibility for making performance contributions to the organization.
True
False
3 points
Question 12
ERG theory contends that more than one need may not be activated at a particular point in time,
whereas Maslow\'s theory does not.
True
False
on 13
From a manager\'s perspective, the worst-case scenario of a work team\'s performance norms and
cohesiveness occurs with negative performance norms and high team cohesiveness.
True
False
3 points
Question 14
Teams that recommend things consist of people with formal responsibility for leading other
groups.
True
False
Question 17
A potential advantage of virtual teams is that computer mediation focuses interaction and
decision making on facts and objective information rather than on emotional considerations.
True
False
3 points
Question 18
Flexible working hours (also called flextime) give employees a daily choice in the timing of their
work commitments.
True
False
3 points
Question 19
The guidelines for brainstorming include ruling out all criticism, welcomingA.
EquityB.
ExpectancyC.
ReinforcementD.
Goal settingE.
ERG
Solution
Question 1: (C) Reinforcement. Refered to self-enhancement-
Question 2: (D) Flextime. Several workers to the same dutty in dieferents shifts.
Question 3: (C) Need for Affiliation.
Question 4: False. There are several praqctice evidence of motivation improovement ussing it.
Question 5:False. Self and social esteem are high-order needs to Maslow.
Question 6: True. The team is more important that individuals motivations.
Question 7:True
Question 8: False.
Question 12: False. The Opposite. Maslow is attacked because that.
Question 13: True. Groups with great cohession and negative performance migth be conflictives.
Question 14: Fa.
Social Responsibility To include intercultural competence, knowledg.pdf
Social policy and laws regarding the rights of women, gay persons, and persons with disability
vary greatly throughout countries in Asia, the Middle East, and the United States (to say nothing
of variation within the fifty states). With respect to foreign nationals working for your US firm,
how can your company balance respect for the legal, social and sometimes religious practices of
different cultures and countries with the guidelines established in Title VII and the American
with Disabilities Act? That is, what are the employer’s responsibilities, and what are the
responsibilities of the foreign national employee who is working for you?
Solution
Responsibility of employers
- Provide assistance to members regarding immigration employment matters.
- Making sure that the foreign national is authorized to work in the United States before hiring
- Citizenship status shall not be used as a basis for discriminating against a foreign national on
any grounds whatsoever unless there is a legal requirement for doing so.
- Employers can only request documentation that a person is eligible to work in the United States
when a contingent offer of employment has been made.
- Adherence to U.S.export control laws and regulations as indicated in System Policy.
Responsibilty of foreign national
- No tampering with any legal documents
- Stating all the past record diligently without any hidden facts which could affect the offer of
employment
- Adhering to the culture of employees and overall environmental culture
- Be patient while the procedures of background verification is undertaken..
Smoking and Gender Refer to data set 4 in appendix B. If one of th .pdf
Smoking and college education-
A survey showed that among 785 randomly selected subjects who completed four years of
college , 18.3 % smoke and 81.7% do no smoke. [ Based on data from American Medical
Association] Use a 0.01 significance level to test the claim that the rate of smoking among those
with four years of college is less than the 27% rate for the general population. Why would
college graduates smoke at lower rate than others?
Test the given claim. Identify null hypothesis, alternative hypothesis, test statistics, P value or
ciritcal values. conlusion about null hypothesis, and final conclusion that addresses the original
claim. Use the P value method. Use the normal distribution as an approximation to the binomial
distribution.
Solution
A. 98% Resulting Confidence Interval for \'true mean\': = [0.151, 0.215] n =
Number of samples 785 Number of Successes 143.655 p = POPULATION PROPORTION
0.183 98% Resulting Confidence Interval for \'true mean\': p +/- (z critical value) * SQRT[p * (1
- p)/n] = 0.183 +/- 2.326 * SQRT[0.183 * (1 - 0.183)/785] = [0.151, 0.215] B. Yes it differs.
27% is outside 98% Confidence Interval [0.151, 0.215].
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Delivering Micro-Credentials in Technical and Vocational Education and Training
SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2013 and 2014.pdf
- 1. SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2013 and 2014 2013 2014 2013 2014 Assets Liabilities and Owners’ Equity Current assets Current liabilities Cash $ 2,911 $ 2,807 Accounts payable $ 2,203 $ 2,700 Accounts receivable 4,717 5,681 Notes payable 1,800 2,216 Inventory 12,678 13,682 Other 100 117 Total $ 20,306
- 2. $ 22,170 Total $ 4,103 $ 5,033 Long-term debt $ 14,300 $ 17,060 Owners’ equity Common stock and paid-in surplus $ 43,000 $ 43,000 Fixed assets Accumulated retained earnings 15,704 39,842 Net plant and equipment $ 56,801 $ 82,765 Total $ 58,704 $ 82,842 Total assets $ 77,107
- 3. $ 104,935 Total liabilities and owners’ equity $ 77,107 $ 104,935 SMOLIRA GOLF, INC. 2014 Income Statement Sales $ 189,370 Cost of goods sold 127,203 Depreciation 5,233 EBIT $ 56,934 Interest paid 1,330 Taxable income $ 55,604 Taxes 19,461 Net income $ 36,143 Dividends $ 12,005 Retained earnings
- 4. 24,138 Smolira Golf has 12,000 shares of common stock outstanding, and the market price for a share of stock at the end of 2014 was $87. Requirement 1: What is the price-earnings ratio? (Do not round intermediate calculations.Round your answer to 2 decimal places (e.g., 32.16).) Price-earnings ratio times Requirement 2: What is the price-sales ratio? (Do not round intermediate calculations.Round your answer to 2 decimal places (e.g., 32.16).) Price-sales ratio times Requirement 3: What are the dividends per share? (Do not round intermediate calculations.Round your answer to 2 decimal places (e.g., 32.16).) Dividends per share $ Requirement 4: What is the market-to-book ratio at the end of 2014? (Do not round intermediate calculations.Round your answer to 2 decimal places (e.g., 32.16).) Market-to-book ratio times SMOLIRA GOLF, INC. Balance Sheets as of December 31, 2013 and 2014 2013 2014 2013 2014 Assets Liabilities and Owners’ Equity Current assets Current liabilities Cash $
- 5. 2,911 $ 2,807 Accounts payable $ 2,203 $ 2,700 Accounts receivable 4,717 5,681 Notes payable 1,800 2,216 Inventory 12,678 13,682 Other 100 117 Total $ 20,306 $ 22,170 Total $ 4,103 $ 5,033 Long-term debt $ 14,300 $ 17,060 Owners’ equity
- 6. Common stock and paid-in surplus $ 43,000 $ 43,000 Fixed assets Accumulated retained earnings 15,704 39,842 Net plant and equipment $ 56,801 $ 82,765 Total $ 58,704 $ 82,842 Total assets $ 77,107 $ 104,935 Total liabilities and owners’ equity $ 77,107 $ 104,935 Solution A) Earning per share = 36143 / 12000 = 3.01 Price Eraning ratio = 87/ 3.01 = 28.90 Times B) Price to sales ratio = Market capitalization / Sales
- 7. = 12000 * 87 / 189370 = 5.51 Times C) Dividend Per share = Dividend paid / No of shares = 12005 / 12000 = $ 1.00 D) Market to book ratio = Market Capitalization / Book value of equity Book value of equity = Common stock + retained earnings = 82842 Market capitalization = 87 * 12000 = 1044000 Market to book ratio = 1044000 / 82842 = 12.60