Total current liabilitiesYear-end stock price$43.39Refer.pdf
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Total current liabilities Year-end stock price $43.39 Refer to Exhibit 4.1. What is the firm\'s book value per share? $26.00 $24.70 $22.29 $23.47 $27.30Balance Sheet (Millions of $)Assets2014Cash and securities$ 2,500Accounts receivable11,500Inventories16,000Total current assets$30,000Net plant and equipment$20,000Total assets $50,000Liabilities and EquityAccounts payable$ 9,500Accruals 5,500Notes payable 7,000 Total current liabilities $22,000Long-term bonds$15,000Total liabilities$37,000Common stock$ 2,000Retained earnings11,000Total common equity$13,000Total liabilities and equity $50,000Income Statement (Millions of $)2014Net sales$87,500Operating costs except depreciation81,813Depreciation1,531Earnings bef interest and taxes (EBIT)$ 4,156Less interest1,375Earnings before taxes (EBT)$ 2,781Taxes973Net income$ 1,808Other data:Shares outstanding (millions)500.00Common dividends$632.73Int rate on notes payable & L-T bonds6.25%Federal plus state income tax rate35% Year-end stock price $43.39 Solution Book value per share = total equity/no of shares ie = 13000/500 26 So option a is correct.
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Exercise 12-1Putnam Corporation had these transactions during 20.docx
The financial statements provide income statement, balance sheet, and cash flow statement information for The Hershey Company for the years 2011, 2010, and 2009. Key details include net sales increasing from $5.3 billion in 2009 to $6.1 billion in 2011, net income increasing from $436 million in 2009 to $629 million in 2011, and total assets increasing from $4.3 billion in 2010 to $4.4 billion in 2011. Cash flow from operating activities was $581 million in 2011.
Expeditors International of Washington, 3rd01qer
- Expeditors International of Washington reported a 7% increase in net earnings for Q3 2001 compared to Q3 2000, reaching a record quarterly net of $27.4 million.
- Net revenues increased 4% for Q3 2001 while total revenues decreased 10% and operating income increased 6% compared to the same period last year.
- For the first nine months of 2001, net earnings increased 23% year-over-year, with net revenues up 14% and operating income rising 19%.
Financial Statement Analysis Assignment Help
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Compano Inc. was founded in 1986 in Baytown, Texas. The firm provide.pdf
Compano Inc. was founded in 1986 in Baytown, Texas. The firm provides oil-field services to
the Texas Gulf Coast region, including the leasing of drilling barges. Its balance sheet for year-
end 2014 describes a firm with $830, 541,000 in book value assets that has a market value of
$1.334 billion.
December 31, 2014
Balance Sheet (Book Values)
Invested Capital (Market Values)
Liabilities and Owner\'s Capital
Current liabilities:
Accounts Payable
$8,250,000
Notes Payable
-
-
Other current liabilities
$7,266,000
Total current liabilities
$15,516,000
Long-term debt (8.5% interest paid semiannually, due in 2015)
$420,000,000
$434,091,171
Total liabilities
$435,516,000
$434,091,171
Owner\'s capital:
Common stock ($1 par value per share
$40,000,000
Paid-in-capital
$100,025,000
Accumulated earnings
$255,000,000
Total owner\'s capital
$395,025,000
$900,000,000
Total liabilities and owner\'s capital
$830,541,000
$1,334,091,171
Capital Market Data
Treasury Bond Yield
5.42%
Market Risk Premium
5.00%
Unlevered equity beta
0.90
Stock price
22.50
Market capitalization
Yield on debt
8.00%
Bond beta
0.30
Short-term interest bearing debt
New long-term debt total
-
Tax Rate
40.00%
Question 1. Fill in the boxes for market capitalization and short-term interest bearing debt
located under the capital market data.
Step 1: Evaluation the capital structure weights
Enterprise Value = Market Capitalization + Debt
Debt/Enterprise Value
Equity/Enterprise Value
Step 2: Estimate the costs of Financing
Debt (after taxes)
Debt/Equity Ratio
Equity
Levered equity beta
Step 3: Calculate the WACC
WACC
Question 2. Fill in the boxes for steps 1 through 3.
Capital Structure Weight
Source of Capital
(Proportion)
After-Tax Cost
Weighted After-Tax Cost
Debt
Equity
WACC
Question 3. Fill in the boxes for capital structure weight (debt, equity, WACC, etc).
Balance Sheet (Book Values)
Invested Capital (Market Values)
Liabilities and Owner\'s Capital
Current liabilities:
Accounts Payable
$8,250,000
Notes Payable
-
-
Other current liabilities
$7,266,000
Total current liabilities
$15,516,000
Long-term debt (8.5% interest paid semiannually, due in 2015)
$420,000,000
$434,091,171
Total liabilities
$435,516,000
$434,091,171
Owner\'s capital:
Common stock ($1 par value per share
$40,000,000
Paid-in-capital
$100,025,000
Accumulated earnings
$255,000,000
Total owner\'s capital
$395,025,000
$900,000,000
Total liabilities and owner\'s capital
$830,541,000
$1,334,091,171
Solution
Question 1:
Step 1: Evaluation the capital structure weights.
Enterprise value = Market capitalization +Debt
Market capitalization = Number of share × market value per share
= 40,000,000 × $22.50
= $900,000,000
Debt = market value of debt
= $420,000,000
Enterprise value = $900,000,000 + $420,000,000
=$1,320,000,000
Calculation of Debt/Enterprise value:
Debt = $420,000,000
Enterprise value = $1,320,000,000
= Debt/Enterprise value
= $420,000,000 / $1,320,000,000
=0.32
Calculation of Equity/Enterprise value:
Equity = $40,000,0.
Expeditors International of Washington, 1st05qer
Expeditors International of Washington reported a 19% increase in net earnings for the first quarter of 2005 compared to the same period in 2004. Net revenues increased 14% to $230.7 million, while operating income rose 18% to $57.6 million. The company opened several new offices globally during the quarter and saw revenue and operating income growth across all regions and business segments. Chairman and CEO Peter Rose attributed the strong results to the company's focus on customer service and technological solutions to meet customer needs.
ACC-291-Week-5-ASSIGNMENT-WILEY-PLUS-Week five assignment wiley plus
ACC-291-Week-5-ASSIGNMENT-WILEY-PLUS
Individual WileyPLUS Assignment: Week Five Assignment
Resource: WileyPLUS
Complete Week Five Assignment in WileyPLUS:
• Exercise E13-1
• Exercise E13-8
• Exercise E14-1
• Problem P13-9A
• Problem P13-10A
• Problem P14-2A
Chapter 2Problems Set BP2-1B Suppose the following items are .docx
Chapter 2
Problems: Set B
P2-1B Suppose the following items are taken from the 2014 balance sheet of Starbucks Corporation. (All dollars are in millions.)
Goodwill
$ 477
Common stock
40
Equipment
3,036
Accounts payable
391
Stock investments (long-term)
280
Accounts receivable
288
Prepaid rent
278
Debt investments (current)
157
Retained earnings
2,244
Cash
281
Notes payable (noncurrent)
550
Notes payable (current)
1,468
Unearned sales revenue (current)
297
Bonds payable
354
Inventory
692
Accumulated depreciation—equipment
145
Instructions
Prepare a classified balance sheet for Starbucks Corporation as of September 30, 2014.
P2-2B These items are taken from the financial statements of Mueller, Inc.
Prepaid insurance
$ 2,400
Equipment
30,000
Salaries and wages expense
34,000
Utilities expense
2,100
Accumulated depreciation—equipment
7,600
Accounts payable
7,200
Cash
6,100
Accounts receivable
2,900
Salaries and wages payable
3,000
Common stock
6,000
Depreciation expense
4,300
Retained earnings (beginning)
14,000
Dividends
2,600
Service revenue
51,000
Maintenance and repairs expense
2,600
Insurance expense
1,800
Instructions
Prepare an income statement, a retained earnings statement, and a classified balance sheet as of December 31, 2014.
P2-3B You are provided with the following information for Vern Corporation, effective as of its April 30, 2014, year-end.
Accounts payable
$ 3,100
Accounts receivable
10,150
Accumulated depreciation—equipment
6,600
Depreciation expense
3,200
Cash
20,955
Common stock
20,000
Dividends
2,800
Equipment
24,250
Sales revenue
20,450
Income tax expense
700
Income taxes payable
300
Interest expense
350
Interest payable
175
Notes payable (due in 2018)
4,700
Prepaid rent
380
Rent expense
660
Retained earnings, beginning
13,960
Salaries and wages expense
5,840
Instructions
(a)
Prepare an income statement and a retained earnings statement for Vern Corporation for the year ended April 30, 2014.
(b)
Prepare a classified balance sheet for Vern as of April 30, 2014.
P2-4B Comparative statement data for Omaz Company and Wise Company, two competitors, are presented below. All balance sheet data are as of December 31, 2014.
Omaz Company
Wise Company
2014
2014
Net sales
$450,000
$900,000
Cost of goods sold
225,000
450,000
Operating expenses
130,000
150,000
Interest expense
6,000
10,000
Income tax expense
15,000
75,000
Current assets
180,000
700,000
Plant assets (net)
600,000
800,000
Current liabilities
75,000
230,000
Long-term liabilities
190,000
200,000
Net cash provided by operating activities
46,000
180,000
Capital expenditures
20,000
50,000
Dividends paid
-0-
5,000
Average number of shares outstanding
200,000
500,000
Instructions
(a)
Compute the net income and earnings per share for each company for 2014.
(b)
Comment on the relative liquidity of the companies by computing working capital and the current ratio for each company for 2014.
(c)
Comment on the relative solvency of the.
Ch02 P14 Build a Model Spring 1, 201372212Chapter 2. Ch 02 P14.docx
Joshua & White Technologies' financial statements for 2009 and 2010 are provided. The assistant is asked to analyze various ratios and perform common size and percentage change analyses to evaluate changes in the company's liquidity, asset management, profitability, and financial position between the two years. Specifically, the assistant calculates ratios such as the current ratio, inventory turnover, return on assets, and performs DuPont, common size, and percentage change analyses on the income statement, balance sheet, key line items, and ratios.
Recommended
Exercise 12-1Putnam Corporation had these transactions during 20.docx
The financial statements provide income statement, balance sheet, and cash flow statement information for The Hershey Company for the years 2011, 2010, and 2009. Key details include net sales increasing from $5.3 billion in 2009 to $6.1 billion in 2011, net income increasing from $436 million in 2009 to $629 million in 2011, and total assets increasing from $4.3 billion in 2010 to $4.4 billion in 2011. Cash flow from operating activities was $581 million in 2011.
Expeditors International of Washington, 3rd01qer
- Expeditors International of Washington reported a 7% increase in net earnings for Q3 2001 compared to Q3 2000, reaching a record quarterly net of $27.4 million.
- Net revenues increased 4% for Q3 2001 while total revenues decreased 10% and operating income increased 6% compared to the same period last year.
- For the first nine months of 2001, net earnings increased 23% year-over-year, with net revenues up 14% and operating income rising 19%.
Financial Statement Analysis Assignment Help
www.onlineassignment.net is a 24*7 online portal dedicated to fulfilling students' need from across the globe. Be it assignment, project or thesis, we can provide you quality solution within the deadline set by you. All levels and from any course of study, you need not worry anymore.
Homework Help | Assignment Help | Project Help | Online Tutoring | Math Help | Programming Help | Engineering | Computer Science | AutoCad
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Compano Inc. was founded in 1986 in Baytown, Texas. The firm provide.pdf
Compano Inc. was founded in 1986 in Baytown, Texas. The firm provides oil-field services to
the Texas Gulf Coast region, including the leasing of drilling barges. Its balance sheet for year-
end 2014 describes a firm with $830, 541,000 in book value assets that has a market value of
$1.334 billion.
December 31, 2014
Balance Sheet (Book Values)
Invested Capital (Market Values)
Liabilities and Owner\'s Capital
Current liabilities:
Accounts Payable
$8,250,000
Notes Payable
-
-
Other current liabilities
$7,266,000
Total current liabilities
$15,516,000
Long-term debt (8.5% interest paid semiannually, due in 2015)
$420,000,000
$434,091,171
Total liabilities
$435,516,000
$434,091,171
Owner\'s capital:
Common stock ($1 par value per share
$40,000,000
Paid-in-capital
$100,025,000
Accumulated earnings
$255,000,000
Total owner\'s capital
$395,025,000
$900,000,000
Total liabilities and owner\'s capital
$830,541,000
$1,334,091,171
Capital Market Data
Treasury Bond Yield
5.42%
Market Risk Premium
5.00%
Unlevered equity beta
0.90
Stock price
22.50
Market capitalization
Yield on debt
8.00%
Bond beta
0.30
Short-term interest bearing debt
New long-term debt total
-
Tax Rate
40.00%
Question 1. Fill in the boxes for market capitalization and short-term interest bearing debt
located under the capital market data.
Step 1: Evaluation the capital structure weights
Enterprise Value = Market Capitalization + Debt
Debt/Enterprise Value
Equity/Enterprise Value
Step 2: Estimate the costs of Financing
Debt (after taxes)
Debt/Equity Ratio
Equity
Levered equity beta
Step 3: Calculate the WACC
WACC
Question 2. Fill in the boxes for steps 1 through 3.
Capital Structure Weight
Source of Capital
(Proportion)
After-Tax Cost
Weighted After-Tax Cost
Debt
Equity
WACC
Question 3. Fill in the boxes for capital structure weight (debt, equity, WACC, etc).
Balance Sheet (Book Values)
Invested Capital (Market Values)
Liabilities and Owner\'s Capital
Current liabilities:
Accounts Payable
$8,250,000
Notes Payable
-
-
Other current liabilities
$7,266,000
Total current liabilities
$15,516,000
Long-term debt (8.5% interest paid semiannually, due in 2015)
$420,000,000
$434,091,171
Total liabilities
$435,516,000
$434,091,171
Owner\'s capital:
Common stock ($1 par value per share
$40,000,000
Paid-in-capital
$100,025,000
Accumulated earnings
$255,000,000
Total owner\'s capital
$395,025,000
$900,000,000
Total liabilities and owner\'s capital
$830,541,000
$1,334,091,171
Solution
Question 1:
Step 1: Evaluation the capital structure weights.
Enterprise value = Market capitalization +Debt
Market capitalization = Number of share × market value per share
= 40,000,000 × $22.50
= $900,000,000
Debt = market value of debt
= $420,000,000
Enterprise value = $900,000,000 + $420,000,000
=$1,320,000,000
Calculation of Debt/Enterprise value:
Debt = $420,000,000
Enterprise value = $1,320,000,000
= Debt/Enterprise value
= $420,000,000 / $1,320,000,000
=0.32
Calculation of Equity/Enterprise value:
Equity = $40,000,0.
Expeditors International of Washington, 1st05qer
Expeditors International of Washington reported a 19% increase in net earnings for the first quarter of 2005 compared to the same period in 2004. Net revenues increased 14% to $230.7 million, while operating income rose 18% to $57.6 million. The company opened several new offices globally during the quarter and saw revenue and operating income growth across all regions and business segments. Chairman and CEO Peter Rose attributed the strong results to the company's focus on customer service and technological solutions to meet customer needs.
ACC-291-Week-5-ASSIGNMENT-WILEY-PLUS-Week five assignment wiley plus
ACC-291-Week-5-ASSIGNMENT-WILEY-PLUS
Individual WileyPLUS Assignment: Week Five Assignment
Resource: WileyPLUS
Complete Week Five Assignment in WileyPLUS:
• Exercise E13-1
• Exercise E13-8
• Exercise E14-1
• Problem P13-9A
• Problem P13-10A
• Problem P14-2A
Chapter 2Problems Set BP2-1B Suppose the following items are .docx
Chapter 2
Problems: Set B
P2-1B Suppose the following items are taken from the 2014 balance sheet of Starbucks Corporation. (All dollars are in millions.)
Goodwill
$ 477
Common stock
40
Equipment
3,036
Accounts payable
391
Stock investments (long-term)
280
Accounts receivable
288
Prepaid rent
278
Debt investments (current)
157
Retained earnings
2,244
Cash
281
Notes payable (noncurrent)
550
Notes payable (current)
1,468
Unearned sales revenue (current)
297
Bonds payable
354
Inventory
692
Accumulated depreciation—equipment
145
Instructions
Prepare a classified balance sheet for Starbucks Corporation as of September 30, 2014.
P2-2B These items are taken from the financial statements of Mueller, Inc.
Prepaid insurance
$ 2,400
Equipment
30,000
Salaries and wages expense
34,000
Utilities expense
2,100
Accumulated depreciation—equipment
7,600
Accounts payable
7,200
Cash
6,100
Accounts receivable
2,900
Salaries and wages payable
3,000
Common stock
6,000
Depreciation expense
4,300
Retained earnings (beginning)
14,000
Dividends
2,600
Service revenue
51,000
Maintenance and repairs expense
2,600
Insurance expense
1,800
Instructions
Prepare an income statement, a retained earnings statement, and a classified balance sheet as of December 31, 2014.
P2-3B You are provided with the following information for Vern Corporation, effective as of its April 30, 2014, year-end.
Accounts payable
$ 3,100
Accounts receivable
10,150
Accumulated depreciation—equipment
6,600
Depreciation expense
3,200
Cash
20,955
Common stock
20,000
Dividends
2,800
Equipment
24,250
Sales revenue
20,450
Income tax expense
700
Income taxes payable
300
Interest expense
350
Interest payable
175
Notes payable (due in 2018)
4,700
Prepaid rent
380
Rent expense
660
Retained earnings, beginning
13,960
Salaries and wages expense
5,840
Instructions
(a)
Prepare an income statement and a retained earnings statement for Vern Corporation for the year ended April 30, 2014.
(b)
Prepare a classified balance sheet for Vern as of April 30, 2014.
P2-4B Comparative statement data for Omaz Company and Wise Company, two competitors, are presented below. All balance sheet data are as of December 31, 2014.
Omaz Company
Wise Company
2014
2014
Net sales
$450,000
$900,000
Cost of goods sold
225,000
450,000
Operating expenses
130,000
150,000
Interest expense
6,000
10,000
Income tax expense
15,000
75,000
Current assets
180,000
700,000
Plant assets (net)
600,000
800,000
Current liabilities
75,000
230,000
Long-term liabilities
190,000
200,000
Net cash provided by operating activities
46,000
180,000
Capital expenditures
20,000
50,000
Dividends paid
-0-
5,000
Average number of shares outstanding
200,000
500,000
Instructions
(a)
Compute the net income and earnings per share for each company for 2014.
(b)
Comment on the relative liquidity of the companies by computing working capital and the current ratio for each company for 2014.
(c)
Comment on the relative solvency of the.
Ch02 P14 Build a Model Spring 1, 201372212Chapter 2. Ch 02 P14.docx
Joshua & White Technologies' financial statements for 2009 and 2010 are provided. The assistant is asked to analyze various ratios and perform common size and percentage change analyses to evaluate changes in the company's liquidity, asset management, profitability, and financial position between the two years. Specifically, the assistant calculates ratios such as the current ratio, inventory turnover, return on assets, and performs DuPont, common size, and percentage change analyses on the income statement, balance sheet, key line items, and ratios.
Ratio AnalysisRatio AnalysisCompute the ratios below for Blue Bill.docx
Ratio AnalysisRatio AnalysisCompute the ratios below for Blue Bill Corporation based on the financial statements provided. Ending inventory was $1,237.6 for year 2010.After calculating the various ratios, analyze the overall financial health of Blue Bill Corporation.Values presented on the financial statements are in millions.Blue Bill CorporationBlue Bill CorporationBalance SheetIncome StatementDecember 31, 20112011AssetsLiabilities and Shareholders' EquitySales$ 10,495.0Current AssetsCurrent liabilitiesCost of products sold6,700.5Cash and cash equivalents$ 483.2Short-term debt$ 43.4Gross Profit3,794.5Receivables (net of allowance)1,045.1Long-term debt due within a year151.6Selling and administrative expense2,350.9Inventories1,249.4Accounts payable1,007.7Operating income1,443.6Other current assets273.5Other accrued liabilities972.7Other income(18.3)Total current assets3,051.2Total current liabilities2,175.4Earnings before interest and taxes1,425.3Property, plan and equipmentInterest expense295.2Land77.1Long-term liabilitiesTaxes247.8Buildings842.4Long-term debt4,559.4Net income$ 882.3Equipment3,546.0Deferred taxes665.3Less accumulated depreciation2,373.7Other long-term liabilities784.2Total property, plant and equipment2,091.8Total long-term liabilities6,008.9Other noncurrent assets4,932.6Shareholders' equity1,891.3Total assets$ 10,075.6Total liabilities and shareholders' equity$ 10,075.6Ratio analysisLiquidity ratios:Current ratioQuick ratioActivity ratios:Inventory turnoverReceivables turnoverDays sales outstandingFixed asset turnoverTotal asset turnoverProfitability ratios:Gross profit marginOperating profit marginNet profit marginReturn on assetsReturn on equityLeverage ratios:Debt / Net worthDebt ratioCoverage ratios:Times-interest-earnedAnalysis of Blue Bill Corporation's financial health
...
Ratio AnalysisRatio AnalysisCompute the ratios below for Blue Bill.docx
Ratio AnalysisRatio AnalysisCompute the ratios below for Blue Bill Corporation based on the financial statements provided. Ending inventory was $1,237.6 for year 2010.After calculating the various ratios, analyze the overall financial health of Blue Bill Corporation.Values presented on the financial statements are in millions.Blue Bill CorporationBlue Bill CorporationBalance SheetIncome StatementDecember 31, 20112011AssetsLiabilities and Shareholders' EquitySales$ 10,495.0Current AssetsCurrent liabilitiesCost of products sold6,700.5Cash and cash equivalents$ 483.2Short-term debt$ 43.4Gross Profit3,794.5Receivables (net of allowance)1,045.1Long-term debt due within a year151.6Selling and administrative expense2,350.9Inventories1,249.4Accounts payable1,007.7Operating income1,443.6Other current assets273.5Other accrued liabilities972.7Other income(18.3)Total current assets3,051.2Total current liabilities2,175.4Earnings before interest and taxes1,425.3Property, plan and equipmentInterest expense295.2Land77.1Long-term liabilitiesTaxes247.8Buildings842.4Long-term debt4,559.4Net income$ 882.3Equipment3,546.0Deferred taxes665.3Less accumulated depreciation2,373.7Other long-term liabilities784.2Total property, plant and equipment2,091.8Total long-term liabilities6,008.9Other noncurrent assets4,932.6Shareholders' equity1,891.3Total assets$ 10,075.6Total liabilities and shareholders' equity$ 10,075.6Ratio analysisLiquidity ratios:Current ratioQuick ratioActivity ratios:Inventory turnoverReceivables turnoverDays sales outstandingFixed asset turnoverTotal asset turnoverProfitability ratios:Gross profit marginOperating profit marginNet profit marginReturn on assetsReturn on equityLeverage ratios:Debt / Net worthDebt ratioCoverage ratios:Times-interest-earnedAnalysis of Blue Bill Corporation's financial health
...
Week five assignment wiley plus
This document contains the solutions to 6 questions from a Wiley Plus assignment on accounting. Question 1 involves analyzing transactions and classifying them as operating, investing, financing or non-cash activities. Question 2 requires completing a statement of cash flows using indirect method. Question 3 is a horizontal analysis comparing 2012 and 2011 balance sheets. Question 4 and 5 require completing statements of cash flows using indirect and direct methods respectively. Question 6 does not require a calculation.
Balance Sheet(in thousands)Thursday, September 30, 2010Friday, Sep.docx
Balance Sheet(in thousands)Thursday, September 30, 2010Friday, September 30, 2011Sunday, September 30, 2012Monday, September 30, 2013Tuesday, September 30, 2014ASSETSCurrent assets:Cash and cash equivalents$97,550$102,054$108,950$98,050$107,890Restricted cash—current portion$190$190$190$110$1,110Accounts receivable, less allowance for doubtful accounts$49,650$50,643$56,501$49,200$75,510Inventories$106,900$100,238$115,559$49,089$49,786Income taxes receivable$650$987$879$348$698Deferred income taxes$9,213$9,125$9,300$8,950$8,650Other current assets$1,136$973$1,300$645$2,000Total current assets$265,289$264,210$292,679$206,392$245,644Property, plant and equipment, net$148,921$167,860$177,302$226,820$228,075Deferred income taxes—long-term portion$59,352$59,182$59,522$58,843$47,200Prepayments and deferred charges$3,076$2,941$3,212$2,670$3,753Restricted cash—long-term portion$110$110$110$110––Other intangible assets including Goodwill, net$37,020$37,090$36,951$13,214$12,900Total assets$513,768$531,393$569,775$508,049$537,572LIABILITIES AND STOCKHOLDERS’ EQUITYLiabilitiesAccounts payable$25,600$31,850$40,506$41,970$54,284Accrued expenses$8,448$10,511$13,037$17,890$21,780Accrued pension and postretirement benefits$16,640$20,703$23,960$27,890$18,758Deferred revenue—current portion$1,890$1,980$2,001$2,500$2,500Current maturities of long-term obligations$109$108$109$110$1,009Total current liabilities$52,687$65,151$79,613$90,360$98,331Long-term obligations (less current portion)$3,097$3,074$1,580$1,482$5,434Deferred revenue (less current portion)$64,030$41,228$59,509$36,070$39,250Non-current income taxes payable$603$409$397$292$308Accrued pension and postretirement benefits$142,050$152,791$156,900$169,870$170,802Total liabilities$262,467$262,653$297,999$298,074$314,125Stockholders’ equity:Common stock, $0.001 par value (40,000,000 shares authorized)$11$11$11$12$13Additional paid-in capital$217,631$220,926$223,220$227,650$237,989Retained Earnings (Accumulated Loss)$33,659$47,803$48,246($17,687)($14,855)Total stockholders’ equity$251,301$268,740$271,476$209,975$223,147Total liabilities and stockholders’ equity$513,768$531,393$569,475$508,049$537,272
Cash equivalent is a liquid asset, for example, a bank deposit, that can be easily converted into cash. Click any red icon below for information.
Restricted funds are deposited in a separate account for a specific purpose, such as debt servicing.
Accounts receivable refers to the amounts owed to the organization by customers for products and services that have been used by the customers, but not yet paid for. This amount is the net of an allowance account. The allowance for a doubtful account is an estimate made by management to estimate the amount that will be uncollectable.
Income tax receivable and income tax payable adjust for temporary differences between generally accepted accounting principles reporting and reporting for Internal Revenue Service tax purposes.
Current assets are those assets that can be co ...
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 ...
1Exercise 8-4The ledger of Wainwright Company at the end of the cu.docx
1Exercise 8-4
The ledger of Wainwright Company at the end of the current year shows Accounts Receivable $76,000; Credit Sales $801,000; and Sales Returns and Allowances $50,000.
(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
(a)
If Wainwright uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Wainwright determines that Hiller’s $1,000 balance is uncollectible.
(b)
If Allowance for Doubtful Accounts has a credit balance of $990 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 11% of accounts receivable.
(c)
If Allowance for Doubtful Accounts has a debit balance of $850 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 8% of accounts receivable.
No.
Account Titles and Explanation
Debit
Credit
(a)
2
Broadening Your Perspective 8-1
The financial statements of
Tootsie Roll
are presented below.
TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF
Earnings, Comprehensive Earnings and Retained Earnings (in thousands except per share data)
For the year ended December 31,
2011
2010
2009
Net product sales
$528,369
$517,149
$495,592
Rental and royalty revenue
4,136
4,299
3,739
Total revenue
532,505
521,448
499,331
Product cost of goods sold
365,225
349,334
319,775
Rental and royalty cost
1,038
1,088
852
Total costs
366,263
350,422
320,627
Product gross margin
163,144
167,815
175,817
Rental and royalty gross margin
3,098
3,211
2,887
Total gross margin
166,242
171,026
178,704
Selling, marketing and administrative expenses
108,276
106,316
103,755
Impairment charges
—
—
14,000
Earnings from operations
57,966
64,710
60,949
Other income (expense), net
2,946
8,358
2,100
Earnings before income taxes
60,912
73,068
63,049
Provision for income taxes
16,974
20,005
9,892
Net earnings
$43,938
$53,063
$53,157
Net earnings
$43,938
$53,063
$53,157
Other comprehensive earnings (loss)
(8,740
)
1,183
2,845
Comprehensive earnings
$35,198
$54,246
$56,002
Retained earnings at beginning of year.
$135,866
$147,687
$144,949
Net earnings
43,938
53,063
53,157
Cash dividends
(18,360
)
(18,078
)
(17,790
)
Stock dividends
(47,175
)
(46,806
)
(32,629
)
Retained earnings at end of year
$114,269
$135,866
$147,687
Earnings per share
$0.76
$0.90
$0.89
Average Common and Class B Common shares outstanding
57,892
58,685
59,425
(The accompanying notes are an integral part of these statements.)
CONSOLIDATED STATEMENTS OF
Financial Position
TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES (in thousands except per share data)
Assets
December 31,
2011
2010
CURRE.
The condensed financial statements of Leeward Corporation for 2006 a.docx
The condensed financial statements of Leeward Corporation for 2006 and 2005 are presented below.
Leeward Corporation Leeward Corporation
Balance Sheet Income Statement
December 31, 2006 For the Year Ended December 31, 2006
Assets Revenues $2,500,000
Current assets Expenses
Cash and temporary Cost of goods sold 1,080,000
investments $ 50,000 Selling and administrative
Accounts receivable 70,000 expenses 495,000
Inventories 120,000 Interest expense 30,000
Total current assets 240,000 Total expenses 1,605,000
Property, plant, and Income before income taxes 895,000
equipment (net) 780,000 Income tax expense 268,500
Total assets $1,020,000 Net income $ 626,500
Liabilities and Stockholders' Equity
Current liabilities $ 100,000
Long-term liabilities 300,000
Common stockholders' equity 620,000
Total liabilities and
stockholders' equity $1,020,000
Leeward Corporation Leeward Corporation
Balance Sheet Income Statement
December 31, 2005 For the Year Ended December 31, 2005
Assets Revenues $2,500,000
Current assets Expenses
Cash and temporary Cost of goods sold 1,750,000
investments $ 40,000 Selling and administrative
Accounts receivable 90,000 expenses 500,000
Inventories 150,000 Interest expense 30,000
Total current assets 280,000 Total expenses 2,280,000
Property, plant, and Income before income taxes 220,000
equipment (net) 800,000 Income tax expense 66,000
Total assets $1,080,000 Net income $ 154,000
Liabilities and Stockholders' Equity
Current liabilities $ 140,000
Long-term liabilities 320,000
Common stockholders' equity 620,000
Total liabilities and
stockholders' equity $1,080,000
Instructions
1. Compute the following listed ratios for 2006.
(a) Current ratio = .
(b) Debt to total assets = .
(d) Profit margin ratio = .
(e) Return on common stockholders' equity = .
(f) Return on assets = .
2. Perform horizontal analysis on both the balance sheet and income statement.
Leeward Corporation
Balance Sheet
Horizontal Analysis
2006 2005 Change Percent
Assets
Cash and temporary investments $50,000 $40,000
Accounts receivable $70,000 $90,000
Inventories $120,000 $150,000
Total current assets $240,000 $280,000
Property, plant and equipment $780,000 $800,000
Total assets $1,020,000 $1,080,000
Liabilities & Stockholder’s Equity
Current liabilities $100,000 $140,000
Long-term liabilities $300,000 $320,000
Common stockholder’s equity $620,000 $620,000
Total liabilities and stockholder’s equity $1,020,000 $1,080,000
Leeward Corporation
Income Statement
.
MICROSOFT CORPORATIONFinancialStatementFY20Q1BALANCE SHEETS.docx
MICROSOFT CORPORATION
FinancialStatementFY20Q1
BALANCE SHEETS
(In millions) (Unaudited)
June 30,
June 30,
2019
2018
Assets
Current assets:
Cash and cash equivalents
$11,356,000
$11,946,000
Short-term investments
$122,463,000
$ 121,822,000
Total cash, cash equivalents, and short-term investments
$133,819,000
$ 133,768,000
Accounts receivable, net of allowance for doubtful accounts of $411 and $377
$ 29,524,000
$ 26,481,000
Inventories
$ 2,063,000
$ 2,662,000
Other current assets
$ 10,146,000
$ 6,751,000
Total current assets
$175,552,000
$ 169,662,000
Long-term assets:
Property and equipment, net of accumulated depreciation of $35,330 and $29,223
$ 36,477,000
$ 29,460,000
Operating lease right-of-use assets
$ 7,379,000
$ 6,686,000
Equity investments
$ 2,649,000
$ 1,862,000
Goodwill
$ 42,026,000
$ 35,683,000
Intangible assets, net
$ 7,750,000
$ 8,053,000
Other long-term assets
$ 14,723,000
$ 7,442,000
Deferred asset charges
$ -
$ -
Total assets
$286,556,000
$258,848,000
Liabilities and stockholders' equity
Current liabilities:
Accounts payable
$9,382,000
$8,617,000
Short-term Debt/Current portion of long-term debt
$ 5,516,000
$ 3,998,000
Accrued compensation
$ 6,830,000
$ 6,103,000
Short-term income taxes
$ 5,665,000
$ 2,121,000
Short-term unearned revenue
$ 32,676,000
$ 28,905,000
Other current liabilities
$ 9,351,000
$ 8,744,000
Total current liabilities
$ 69,420,000
$ 58,488,000
Long-term debt
$ 66,662,000
$ 72,242,000
Long-term income taxes
$ 29,612,000
$ 30,265,000
Long-term unearned revenue
$ 4,530,000
$ 3,815,000
Deferred income taxes
$ 233,000
$ 541,000
Operating lease liabilities
$ 6,188,000
$ 5,568,000
Other long-term liabilities
$ 7,581,000
$ 5,211,000
Misc. Stocks
$ -
$ -
Minority interest
$ -
$ -
Total liabilities
$184,226,000
$176,130,000
Stockholders' equity:
Common stock and paid-in capital - shares authorized 24,000; outstanding 7,643 and 7,677
$ 78,520,000
$ 71,223,000
Retained earnings
$ 24,150,000
$ 13,682,000
Accumulated other comprehensive loss/Other equity
$ (340,000)
$ (2,187,000)
Total stockholders' equity
$102,330,000
$ 82,718,000
Total liabilities and stockholders' equity
$286,556,000
$258,848,000
MICROSOFT CORPORATION
INCOME STATEMENTS
(In millions, except per share amounts) (Unaudited)
Twelve Months Ended June 30,
2019
2018
Sales:
Product
$66,069,000
$64,497,000
Service and other
$ 59,774,000
$ 45,863,000
Net sales
$125,843,000
$110,360,000
Cost of goods sold:
.
MICROSOFT CORPORATIONFinancialStatementFY20Q1BALANCE SHEETS.docx
MICROSOFT CORPORATION
FinancialStatementFY20Q1
BALANCE SHEETS
(In millions) (Unaudited)
June 30,
June 30,
2019
2018
Assets
Current assets:
Cash and cash equivalents
$11,356,000
$11,946,000
Short-term investments
$122,463,000
$ 121,822,000
Total cash, cash equivalents, and short-term investments
$133,819,000
$ 133,768,000
Accounts receivable, net of allowance for doubtful accounts of $411 and $377
$ 29,524,000
$ 26,481,000
Inventories
$ 2,063,000
$ 2,662,000
Other current assets
$ 10,146,000
$ 6,751,000
Total current assets
$175,552,000
$ 169,662,000
Long-term assets:
Property and equipment, net of accumulated depreciation of $35,330 and $29,223
$ 36,477,000
$ 29,460,000
Operating lease right-of-use assets
$ 7,379,000
$ 6,686,000
Equity investments
$ 2,649,000
$ 1,862,000
Goodwill
$ 42,026,000
$ 35,683,000
Intangible assets, net
$ 7,750,000
$ 8,053,000
Other long-term assets
$ 14,723,000
$ 7,442,000
Deferred asset charges
$ -
$ -
Total assets
$286,556,000
$258,848,000
Liabilities and stockholders' equity
Current liabilities:
Accounts payable
$9,382,000
$8,617,000
Short-term Debt/Current portion of long-term debt
$ 5,516,000
$ 3,998,000
Accrued compensation
$ 6,830,000
$ 6,103,000
Short-term income taxes
$ 5,665,000
$ 2,121,000
Short-term unearned revenue
$ 32,676,000
$ 28,905,000
Other current liabilities
$ 9,351,000
$ 8,744,000
Total current liabilities
$ 69,420,000
$ 58,488,000
Long-term debt
$ 66,662,000
$ 72,242,000
Long-term income taxes
$ 29,612,000
$ 30,265,000
Long-term unearned revenue
$ 4,530,000
$ 3,815,000
Deferred income taxes
$ 233,000
$ 541,000
Operating lease liabilities
$ 6,188,000
$ 5,568,000
Other long-term liabilities
$ 7,581,000
$ 5,211,000
Misc. Stocks
$ -
$ -
Minority interest
$ -
$ -
Total liabilities
$184,226,000
$176,130,000
Stockholders' equity:
Common stock and paid-in capital - shares authorized 24,000; outstanding 7,643 and 7,677
$ 78,520,000
$ 71,223,000
Retained earnings
$ 24,150,000
$ 13,682,000
Accumulated other comprehensive loss/Other equity
$ (340,000)
$ (2,187,000)
Total stockholders' equity
$102,330,000
$ 82,718,000
Total liabilities and stockholders' equity
$286,556,000
$258,848,000
MICROSOFT CORPORATION
INCOME STATEMENTS
(In millions, except per share amounts) (Unaudited)
Twelve Months Ended June 30,
2019
2018
Sales:
Product
$66,069,000
$64,497,000
Service and other
$ 59,774,000
$ 45,863,000
Net sales
$125,843,000
$110,360,000
Cost of goods sold:
.
Once each year, a corporation communicates to its stockholders.docx
Once each year, a corporation communicates to its stockholders and other inter-
ested parties by issuing a complete set of audited ! nancial statements. The
annual report , as this communication is called, summarizes the ! nancial results
of the company’s operations for the year and its plans for the future. Many annual
reports are attractive, multicolored, glossy public relations pieces, containing
pictures of corporate of! cers and directors as well as photos and descriptions of
new products and new buildings. Yet the basic function of every annual report is
to report ! nancial information, almost all of which is a product of the corpora-
tion’s accounting system.
The content and organization of corporate annual reports have become fairly
standardized. Excluding the public relations part of the report (pictures, prod-
ucts, etc.), the following are the traditional ! nancial portions of the annual report:
• Financial Highlights
• Letter to the Stockholders
• Management’s Discussion and
Analysis
• Financial Statements
• Notes to the Financial
Statements
• Management’s Responsibility
for Financial Reporting
• Management’s Report on Internal
Control over Financial Reporting
• Report of Independent Registered
Public Accounting Firm
• Selected Financial Data
The of! cial SEC ! ling of the annual report is called a Form 10-K, which
often omits the public relations pieces found in most standard annual reports. On
the following pages, we present Apple Inc.’s ! nancial statements taken from the
company’s 2013 Form 10-K. To access Apple’s Form 10-K, including notes to the
! nancial statements, follow these steps:
1. Go to http://investor.apple.com.
2. Select the Financial Information tab.
3. Select the 10-K annual report dated September 28, 2013.
4. The Notes to Consolidated Financial Statements begin on page 50.
Specimen Financial
Statements: Apple Inc.
Appendix A
A-1
A-2 Appendix A Specimen Financial Statements: Apple Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except number of shares which are reflected in thousands and per share amounts)
See accompanying Notes to Consolidated Financial Statements.
Years ended
September 28, 2013 September 29, 2012 September 24, 2011
Net sales $ 170,910 $ 156,508 $ 108,249
Cost of sales 106,606 87,846 64,431
Gross margin 64,304 68,662 43,818
Operating expenses:
Research and development 4,475 3,381 2,429
Selling, general and administrative 10,830 10,040 7,599
Total operating expenses 15,305 13,421 10,028
Operating income 48,999 55,241 33,790
Other income/(expense), net 1,156 522 415
Income before provision for income taxes 50,155 55,763 34,205
Provision for income taxes 13,118 ...
Expeditors International of Washington, 2nd05qer
Expeditors International of Washington, Inc. announced a 19% increase in net earnings for the second quarter of 2005 compared to the same period in 2004. Net revenues increased 13% and operating income rose 17%. For the first six months of 2005, net earnings were up 19% and net revenues increased 13% compared to the first half of 2004. The company attributed the strong financial results to increased demand from customers in retail rushing imports from China ahead of new trade restrictions.
Expeditors International of Washington, 3rd05qer
Expeditors International of Washington reported record quarterly earnings for Q3 2005. Net earnings increased 29% to $55.8 million compared to $43.1 million in Q3 2004. Revenues grew 17% to $281.9 million. For the first nine months of 2005, net earnings increased 23% to $138.2 million on 15% revenue growth to $763.3 million. The company attributed results to execution, efficiency gains, and ongoing volume increases in air and ocean freight.
StatementsWidgit Corporations December 31 Balance SheetsAssets201.docx
StatementsWidgit Corporation's December 31 Balance SheetsAssets20122011Cash$ 72,000$ 65,000Accounts receivable439,000328,000Inventories894,000813,000 Total current assets$ 1,405,000$ 1,206,000Land and building238,000271,000Machinery132,000133,000Other fixed assets61,00057,000Total assets$ 1,836,000$ 1,667,000Liabilities and equityAccounts payable$ 432,000$ 409,500Accrued liabilities170,000162,000 Total current liabilities$ 602,000$ 571,500Long-term debt404,290258,898Common stock575,000575,000Retained earnings254,710261,602Total liabilities and equity$ 1,836,000$ 1,667,000Widgit Corporation's December 31 Income Statements20122011Sales$ 4,240,000$ 3,635,000Cost of goods sold3,680,0002,980,000Gross profit$ 560,000$ 655,000General admin. and selling expenses236,320213,550Depreciation159,000154,500Miscellaneous134,000127,000 EBT$ 30,680$ 159,950Taxes (40%)12,27263,980 Net income$ 18,408$ 95,970
HorizontalWidgit Corporation's December 31 Balance SheetsAssets20122011
Dr. Letsch: Dr. Letsch:
Step 1: Set up your financial statements in this format.Dollar Change
Dr. Letsch: Dr. Letsch:
Determine the dollar amount of change between periods.Percentage Change
Dr. Letsch: Dr. Letsch:
Determine the percentage change by dividing the Dollar Change by the initial year data.Cash$ 72,000$ 65,0007,00010.8%Accounts receivable439,000328,000111,00033.8%Inventories894,000813,00081,00010.0% Total current assets$ 1,405,000$ 1,206,000199,00016.5%Land and building238,000271,000(33,000)-12.2%Machinery132,000133,000(1,000)-0.8%Other fixed assets61,00057,0004,0007.0%Total assets$ 1,836,000$ 1,667,000169,00010.1%Liabilities and equityAccounts payable$ 432,000$ 409,50022,5005.5%Accrued liabilities170,000162,0008,0004.9% Total current liabilities$ 602,000$ 571,50030,5005.3%Long-term debt404,290258,898145,39256.2%Common stock575,000575,00000.0%Retained earnings254,710261,602(6,892)-2.6%Total liabilities and equity$ 1,836,000$ 1,667,000169,00010.1%Widgit Corporation's December 31 Income Statements20122011Sales$ 4,240,000$ 3,635,000605,00016.6%Cost of goods sold3,680,0002,980,000700,00023.5%Gross profit$ 560,000$ 655,000(95,000)-14.5%General admin. and selling expenses236,320213,55022,77010.7%Depreciation159,000154,5004,5002.9%Miscellaneous134,000127,0007,0005.5% EBT$ 30,680$ 159,950(129,270)-80.8%Taxes (40%)12,27263,980(51,708)-80.8% Net income$ 18,408$ 95,970(77,562)-80.8%
VerticalWidgit Corporation's December 31 Balance SheetsAssets2012Percent2011Percent
Dr. Letsch: Dr. Letsch:
Separate columns; add percent columns; calculate percentages based on total assets, total L&E, and total sales depending on the statement or part of statement analyzed.Cash$ 72,0003.9%$ 65,0003.9%Accounts receivable439,00023.9%328,00019.7%Inventories894,00048.7%813,00048.8% Total current assets$ 1,405,00076.5%$ 1,206,00072.3%Land and building238,00013.0%271,00016.3%Machinery132,0007.2%133,0008.0%Other fi.
Link Ltd acquired 80 of the shares of Connect Ltd on 1 July.docx
Link Ltd acquired 80% of the shares of Connect Ltd on 1 July 2012 for $115 000. At this date the equity of Connect Ltd consisted of:
Share capital (100 000 shares)
General reserve
Retained earnings
$ 80 000
2 400
29 600
All the identifiable assets and liabilities of Connect Ltd were recorded at amounts equal to their fair values except for:
Carrying amount
Fair value
Plant (cost $65 000)
$52 000
$56 000
Land
40 000
45 000
Inventory
25 000
28 000
The plant was expected to have a further useful life of 10 years. The land was sold on 1 January 2015. The inventory was all sold by 30 June 2013. Link Ltd uses the full goodwill method. The fair value of the non-controlling interest (NCI) at 1 July 2012 was $28 000. At 1 July 2012, Connect Ltd had unrecorded brands that had a fair value of $18 000. These had an indefinite life.
Additional information
· Connect Ltd had inventory on hand at 30 June 2014 that included inventory at cost of $8000 that had been sold to it by Link Ltd. This inventory had cost Link Ltd $6000. It was all sold by Connect Ltd by 30 June 2015.
· During the 2014-15 year, Connect Ltd sold inventory to Link Ltd for $48 000. At 30 June 2015, Link Ltd still had some of this inventory on hand. This inventory had been sold to it by Connect Ltd at a profit of $4000.
· On 1 January 2014, Connect Ltd sold plant to Link Ltd for $16 000. This had a carrying amount in Connect Ltd at time of sale of $12 000. Plant of this class is depreciated at 20% per annum.
· Management and consultation fees derived by Link Ltd are all from Connect Ltd and represent charges for administration $1760 and technical services for the manufacturing section $2240.
· All debentures issued by Connect Ltd are held by Link Ltd.
· Other components of equity relate to movements in the fair values of financial assets held by the entities. Gains and losses on these financial assets are recognised in other comprehensive income. The balance of the other components of equity account at 1 July 2014 was $8000 (Link Ltd) and $6400 (Connect Ltd).
· The tax rate is 30%
· Financial information at 30 June 2015 of Link Ltd and its subsidiary company, Connect Ltd, is shown below.
Link Ltd
Connect Ltd
Sales revenue
$252 800
$176 000
Debenture interest
4 000
—
Management and consultation fees
4 000
—
Dividends
9 600
—
Total revenue
270 400
176 000
Cost of sales
(104 000)
(68 000)
Manufacturing expenses
(82 000)
(53 000)
Depreciation on plant
(12 000)
(12 000)
Administrative expenses
(12 000)
(6 400)
Financial expenses
(8 800)
(4 000)
Other expenses
(11 200)
(9 600)
Total expenses
230 000
153 000
Profit from trading
40 400
23 000
Gains on sale of non-current assets
10 000
5 000
Profit before income tax
50 400
28 000
Income tax expense
(20 000)
(13 600)
Profit for the year
30 400
14 400
Retained earnings at 1 July 2014
40 000
36 000
70 400
50 400
Dividend paid
(8 000)
(8 000)
Dividend declared
(8 000)
(4 000)
(16 000)
(12 000)
Retained earnings at 30 Ju ...
Business Plan ii Financials
The document provides an overview of financial planning concepts for a new business including how to create budgets, understand pricing, manage cash flow, and develop financial statements like income statements, balance sheets, and cash flow projections. It discusses factors that influence credit scores and how to analyze expenses, revenues, breakeven points, and sources of startup capital. The financial statements are tools to evaluate the ongoing financial health and performance of a business over time.
ConAgra Q4Jul04
The document provides the quarterly and annual financial results for a company. Some key highlights include:
- Several consumer brands posted sales growth for the quarter including Banquet, Blue Bonnet, and Chef Boyardee, while others like ACT II and Eckrich saw declines.
- Total depreciation and amortization was around $93 million for the quarter and $352 million for the fiscal year.
- Capital expenditures were around $106 million for the quarter and $352 million for the fiscal year.
- Net interest expense was $80 million for the quarter and $275 million for the fiscal year.
- Corporate expenses were around $95 million for the quarter and $342 million
Riordan Manufacturing, Inc.Consolidated Balance Sheet Fi.docx
Riordan Manufacturing, Inc.
Consolidated Balance Sheet
Fiscal Year Ending
September 30th
2011
2010
Assets
Current Assets
Cash
$3,725,406
$2,807,029
Accounts Receivable
3,192,094
2,695,342
Current Portion of Notes Receivable
84,255
102,976
Inventories
9,709,611
8,517,203
Prepaid Expenses and Other Items
666,591
402,240
Total Current Assets
$17,377,957
$14,524,790
Notes Receivable, less current portion
$842,551
$936,168
Investment in Joint Venture
1,734,004
1,609,004
Property, Plant and Equipment - net
26,366,949
16,658,218
Intangible Assets - net
904,473
904,473
Other Assets
183,203
192,845
Total Assets
$47,409,137
$34,825,498
Liabilities and Stockholders' Equity
Current Liabilities
Current Portion of Long-Term Debt
$1,560,959
$474,032
Accounts Payable
1,141,561
1,391,385
Accrued Liabilities
430,477
524,685
Income Taxes Payable
552,155
359,955
Total Current Liabilities
$3,685,152
$2,750,057
Bank Line of Credit
$114,759
$295,865
Long-Term Debt - less current portion
9,500,741
1,006,955
Deferred Income Taxes - net
660,503
825,629
Total Liabilities
$13,961,155
$4,878,506
Common Stock
Stated par value is $.01.
20,000,000 shares authorized.
Issued and Outstanding 15,801,332 net of treasury shares.
$29,055,488
$29,055,488
Retained Earnings / (Accumulated Deficit)
4,392,494
891,504
Total Stockholders' Equity
$33,447,982
$29,946,992
Total Liabilities and Stockholders' Equity
$47,409,137
$34,825,498
Balance SheetRiordan Manufacturing, Inc.Consolidated Balance SheetFiscal Year Ending September 30th20102009200820072006200520042003AssetsCurrent AssetsCash$2,807,029$1,511,253$1,040,639$1,442,507$1,336,319$305,563$357,216$85,632Accounts Receivable$2,695,342$2,644,307$2,883,964$4,544,138$4,855,334$6,062,838$5,657,216$6,556,160Current Portion of Notes Receivable$102,976$117,475$107,107$109,293$95,538$70,825$117,888$13,184Inventories$8,517,203$7,123,790$8,305,690$7,919,987$7,224,947$7,850,970$7,854,112$8,074,880Deferred Income Taxes - net$0$0$0$0$0$0$328,832$349,184Pre-paid Expenses and Other Items$402,240$458,875$279,336$294,038$256,903$264,896$328,192$336,128Total Current Assets$14,524,790$11,855,700$12,616,736$14,309,963$13,769,041$14,555,092$14,643,456$15,415,168Notes Receivable, less current portion$936,168$1,067,953$1,102,260$1,124,755$986,627$256,583$177,408$431,104Investment in Joint Venture$1,609,004$1,333,504$1,183,504$1,058,504$858,504$283,504$133,504$139,136Property, Plant & Equipment - net$16,658,218$17,767,486$18,869,612$18,424,594$24,510,830$19,114,830$18,511,360$19,205,120Intangible Assets - net$904,473$904,473$550,590$550,590$550,590$329,405$336,128$395,136Other Assets$192,845$175,314$106,721$108,899$107,821$52,768$54,400$51,840Total Assets$34,825,498$33,104,430$34,429,423$35,577,305$40,783,413$34,592,182$33,856,256$35,637,504Liabilities and Stockholders' EquityCurrent LiabilitiesCurrent Portion of Long-Term Debt$474,032$484,894$497,480$495,515$538,046$1,219,258$1,106,304$1,73 ...
A COM Balance Sheets As of December 31 2015 2014 Assets Current asset.pdf
A COM Balance Sheets As of December 31 2015 2014 Assets Current assets Cash Marketable
securities Accounts receivable (net) Inventories Prepaid items $ 20,000 20,800 49,000 134,000
28,000 16,000 6,800 41,000 142,000 13,000 Total current assets Investments Plant (net) Land
251,800 32,000 295,000 29,000 218,800 25,000 280,000 24,000 Total assets $607,800 $547,800
Liabilities and Stockholders\' Equity Liabilities Current liabilities Notes payable Accounts
payable Salaries payable $ 31,600 $ 17,700 100,000 17,000 113,800 23,000 Total current
liabilities 168,400 134,700 Noncurrent liabilities Bonds payable Other 120,000 120,000 32,000
152,000 320,400 27,000 147,000 281,700 Total noncurrent liabilities Total liabilities
Stockholders\' equity Preferred stock, (par value $10, 4% cumulative non-participating; 8,000
shares authorized and issued) 80,000 80,000 Common stock (No par; 50,000 shares authorized;
80,000 127,400 10,000 shares issued) 80,000 106,100 266,100 $607,800 $547,800 Retained
earnings Total stockholders\' equity 287,400 Total liabilities and stockholders\' equity
Solution
SOLUTION
1. Working Capital = Current assets - Current Liabilities
2014 -
Working capital = $218,800 - $134,700 = $84,100
2015-
Working capital = $251,800 - $168,400 = $83,400
2. Current Ratio = Current assets / Current liabilities
2014 -
Current ratio = $218,800 / $134,700 = 1.62
2015-
Current ratio = $251,800 / $168,400 = 1.50
3. Quick ratio = (Current assets - Inventories) / Current liabilities
2014 -
Quick ratio = ($218,800 - $142,000) / $134,700 = 0.57
2015-
Quick ratio = ($251,800 - $134,000) / $168,400 = 0.70
4. Receivable turnover = Net credit sales / Average accounts receivable
2014-
Average accounts receivable = (Beginning accounts receivable + Ending accounts receivable) / 2
= ($42,000 + $41,000) / 2 = $41,500
Receivable turnover = $290,000 / $41,500 = 6.99
2015-
Average accounts receivable = (Beginning accounts receivable + Ending accounts receivable) / 2
= ($41,000 + $49,000) / 2 = $45,000
Receivable turnover = $310,000 / $45,000 = 6.89.
Intermediate accounting 15th edition cHAPTER 5 /
Here is the statement of cash flows for 2014:
LANSBURY INC.
STATEMENT OF CASH FLOWS
For the Year Ended December 31, 2014
Cash flows from operating activities:
Net income $36,710
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation 11,330
Gain on sale of investments (3,730)
Changes in assets and liabilities:
(Increase) in accounts receivable (24,780)
Increase in accounts payable -
Net cash provided by operating activities $19,530
Cash flows from investing activities:
Proceeds from sale of investments $15,330
Purchase of land (22,710)
Write down the Epsilon-Delta statements describing each of the follo.pdf
Write down a differential equation of the form dy/dt=ay+b whose solutions all approach y = 6 as
t??
Solution
dy/dt = a*y + b = a*(y + b/a) is a separable equation: dy/(y + b/a) = a dt
Integrating: ln(y + b/a) - ln(c) = a*t where ln(c) is the constant of integration. ln((y + b/a)/c) =
a*t y(t) = c*exp(a*t) - b/a Now, for this solution to be bounded as t -> infinity, a must be < 0.
When a < 0, the exponential term goes to zero as t-> infinity, so: y(t -> infinity) = -b/a for a < 0
We therefore want -b/a = 6 There are an infinite number of possible solutions that meet the
criteria in this question.
Write an equation in standard form that represents a line that passe.pdf
write an equation in slope intercept, point slope, or standard form for the line with given
information.
Slope 2, y-intercept -4
Solution
slope intercept form equation is y = mx + b point slope is ( y - y1) = m ( x - x1) standard form
Ax + Bx = c
y = mx + b b is y-intercept which is -4 slope is m which is 2 so plug that into y = mx + b.
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Ratio AnalysisRatio AnalysisCompute the ratios below for Blue Bill.docx
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Ratio AnalysisRatio AnalysisCompute the ratios below for Blue Bill.docx
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Week five assignment wiley plus
This document contains the solutions to 6 questions from a Wiley Plus assignment on accounting. Question 1 involves analyzing transactions and classifying them as operating, investing, financing or non-cash activities. Question 2 requires completing a statement of cash flows using indirect method. Question 3 is a horizontal analysis comparing 2012 and 2011 balance sheets. Question 4 and 5 require completing statements of cash flows using indirect and direct methods respectively. Question 6 does not require a calculation.
Balance Sheet(in thousands)Thursday, September 30, 2010Friday, Sep.docx
Balance Sheet(in thousands)Thursday, September 30, 2010Friday, September 30, 2011Sunday, September 30, 2012Monday, September 30, 2013Tuesday, September 30, 2014ASSETSCurrent assets:Cash and cash equivalents$97,550$102,054$108,950$98,050$107,890Restricted cash—current portion$190$190$190$110$1,110Accounts receivable, less allowance for doubtful accounts$49,650$50,643$56,501$49,200$75,510Inventories$106,900$100,238$115,559$49,089$49,786Income taxes receivable$650$987$879$348$698Deferred income taxes$9,213$9,125$9,300$8,950$8,650Other current assets$1,136$973$1,300$645$2,000Total current assets$265,289$264,210$292,679$206,392$245,644Property, plant and equipment, net$148,921$167,860$177,302$226,820$228,075Deferred income taxes—long-term portion$59,352$59,182$59,522$58,843$47,200Prepayments and deferred charges$3,076$2,941$3,212$2,670$3,753Restricted cash—long-term portion$110$110$110$110––Other intangible assets including Goodwill, net$37,020$37,090$36,951$13,214$12,900Total assets$513,768$531,393$569,775$508,049$537,572LIABILITIES AND STOCKHOLDERS’ EQUITYLiabilitiesAccounts payable$25,600$31,850$40,506$41,970$54,284Accrued expenses$8,448$10,511$13,037$17,890$21,780Accrued pension and postretirement benefits$16,640$20,703$23,960$27,890$18,758Deferred revenue—current portion$1,890$1,980$2,001$2,500$2,500Current maturities of long-term obligations$109$108$109$110$1,009Total current liabilities$52,687$65,151$79,613$90,360$98,331Long-term obligations (less current portion)$3,097$3,074$1,580$1,482$5,434Deferred revenue (less current portion)$64,030$41,228$59,509$36,070$39,250Non-current income taxes payable$603$409$397$292$308Accrued pension and postretirement benefits$142,050$152,791$156,900$169,870$170,802Total liabilities$262,467$262,653$297,999$298,074$314,125Stockholders’ equity:Common stock, $0.001 par value (40,000,000 shares authorized)$11$11$11$12$13Additional paid-in capital$217,631$220,926$223,220$227,650$237,989Retained Earnings (Accumulated Loss)$33,659$47,803$48,246($17,687)($14,855)Total stockholders’ equity$251,301$268,740$271,476$209,975$223,147Total liabilities and stockholders’ equity$513,768$531,393$569,475$508,049$537,272
Cash equivalent is a liquid asset, for example, a bank deposit, that can be easily converted into cash. Click any red icon below for information.
Restricted funds are deposited in a separate account for a specific purpose, such as debt servicing.
Accounts receivable refers to the amounts owed to the organization by customers for products and services that have been used by the customers, but not yet paid for. This amount is the net of an allowance account. The allowance for a doubtful account is an estimate made by management to estimate the amount that will be uncollectable.
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Current assets are those assets that can be co ...
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 ...
1Exercise 8-4The ledger of Wainwright Company at the end of the cu.docx
1Exercise 8-4
The ledger of Wainwright Company at the end of the current year shows Accounts Receivable $76,000; Credit Sales $801,000; and Sales Returns and Allowances $50,000.
(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
(a)
If Wainwright uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Wainwright determines that Hiller’s $1,000 balance is uncollectible.
(b)
If Allowance for Doubtful Accounts has a credit balance of $990 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 11% of accounts receivable.
(c)
If Allowance for Doubtful Accounts has a debit balance of $850 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 8% of accounts receivable.
No.
Account Titles and Explanation
Debit
Credit
(a)
2
Broadening Your Perspective 8-1
The financial statements of
Tootsie Roll
are presented below.
TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF
Earnings, Comprehensive Earnings and Retained Earnings (in thousands except per share data)
For the year ended December 31,
2011
2010
2009
Net product sales
$528,369
$517,149
$495,592
Rental and royalty revenue
4,136
4,299
3,739
Total revenue
532,505
521,448
499,331
Product cost of goods sold
365,225
349,334
319,775
Rental and royalty cost
1,038
1,088
852
Total costs
366,263
350,422
320,627
Product gross margin
163,144
167,815
175,817
Rental and royalty gross margin
3,098
3,211
2,887
Total gross margin
166,242
171,026
178,704
Selling, marketing and administrative expenses
108,276
106,316
103,755
Impairment charges
—
—
14,000
Earnings from operations
57,966
64,710
60,949
Other income (expense), net
2,946
8,358
2,100
Earnings before income taxes
60,912
73,068
63,049
Provision for income taxes
16,974
20,005
9,892
Net earnings
$43,938
$53,063
$53,157
Net earnings
$43,938
$53,063
$53,157
Other comprehensive earnings (loss)
(8,740
)
1,183
2,845
Comprehensive earnings
$35,198
$54,246
$56,002
Retained earnings at beginning of year.
$135,866
$147,687
$144,949
Net earnings
43,938
53,063
53,157
Cash dividends
(18,360
)
(18,078
)
(17,790
)
Stock dividends
(47,175
)
(46,806
)
(32,629
)
Retained earnings at end of year
$114,269
$135,866
$147,687
Earnings per share
$0.76
$0.90
$0.89
Average Common and Class B Common shares outstanding
57,892
58,685
59,425
(The accompanying notes are an integral part of these statements.)
CONSOLIDATED STATEMENTS OF
Financial Position
TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES (in thousands except per share data)
Assets
December 31,
2011
2010
CURRE.
The condensed financial statements of Leeward Corporation for 2006 a.docx
The condensed financial statements of Leeward Corporation for 2006 and 2005 are presented below.
Leeward Corporation Leeward Corporation
Balance Sheet Income Statement
December 31, 2006 For the Year Ended December 31, 2006
Assets Revenues $2,500,000
Current assets Expenses
Cash and temporary Cost of goods sold 1,080,000
investments $ 50,000 Selling and administrative
Accounts receivable 70,000 expenses 495,000
Inventories 120,000 Interest expense 30,000
Total current assets 240,000 Total expenses 1,605,000
Property, plant, and Income before income taxes 895,000
equipment (net) 780,000 Income tax expense 268,500
Total assets $1,020,000 Net income $ 626,500
Liabilities and Stockholders' Equity
Current liabilities $ 100,000
Long-term liabilities 300,000
Common stockholders' equity 620,000
Total liabilities and
stockholders' equity $1,020,000
Leeward Corporation Leeward Corporation
Balance Sheet Income Statement
December 31, 2005 For the Year Ended December 31, 2005
Assets Revenues $2,500,000
Current assets Expenses
Cash and temporary Cost of goods sold 1,750,000
investments $ 40,000 Selling and administrative
Accounts receivable 90,000 expenses 500,000
Inventories 150,000 Interest expense 30,000
Total current assets 280,000 Total expenses 2,280,000
Property, plant, and Income before income taxes 220,000
equipment (net) 800,000 Income tax expense 66,000
Total assets $1,080,000 Net income $ 154,000
Liabilities and Stockholders' Equity
Current liabilities $ 140,000
Long-term liabilities 320,000
Common stockholders' equity 620,000
Total liabilities and
stockholders' equity $1,080,000
Instructions
1. Compute the following listed ratios for 2006.
(a) Current ratio = .
(b) Debt to total assets = .
(d) Profit margin ratio = .
(e) Return on common stockholders' equity = .
(f) Return on assets = .
2. Perform horizontal analysis on both the balance sheet and income statement.
Leeward Corporation
Balance Sheet
Horizontal Analysis
2006 2005 Change Percent
Assets
Cash and temporary investments $50,000 $40,000
Accounts receivable $70,000 $90,000
Inventories $120,000 $150,000
Total current assets $240,000 $280,000
Property, plant and equipment $780,000 $800,000
Total assets $1,020,000 $1,080,000
Liabilities & Stockholder’s Equity
Current liabilities $100,000 $140,000
Long-term liabilities $300,000 $320,000
Common stockholder’s equity $620,000 $620,000
Total liabilities and stockholder’s equity $1,020,000 $1,080,000
Leeward Corporation
Income Statement
.
MICROSOFT CORPORATIONFinancialStatementFY20Q1BALANCE SHEETS.docx
MICROSOFT CORPORATION
FinancialStatementFY20Q1
BALANCE SHEETS
(In millions) (Unaudited)
June 30,
June 30,
2019
2018
Assets
Current assets:
Cash and cash equivalents
$11,356,000
$11,946,000
Short-term investments
$122,463,000
$ 121,822,000
Total cash, cash equivalents, and short-term investments
$133,819,000
$ 133,768,000
Accounts receivable, net of allowance for doubtful accounts of $411 and $377
$ 29,524,000
$ 26,481,000
Inventories
$ 2,063,000
$ 2,662,000
Other current assets
$ 10,146,000
$ 6,751,000
Total current assets
$175,552,000
$ 169,662,000
Long-term assets:
Property and equipment, net of accumulated depreciation of $35,330 and $29,223
$ 36,477,000
$ 29,460,000
Operating lease right-of-use assets
$ 7,379,000
$ 6,686,000
Equity investments
$ 2,649,000
$ 1,862,000
Goodwill
$ 42,026,000
$ 35,683,000
Intangible assets, net
$ 7,750,000
$ 8,053,000
Other long-term assets
$ 14,723,000
$ 7,442,000
Deferred asset charges
$ -
$ -
Total assets
$286,556,000
$258,848,000
Liabilities and stockholders' equity
Current liabilities:
Accounts payable
$9,382,000
$8,617,000
Short-term Debt/Current portion of long-term debt
$ 5,516,000
$ 3,998,000
Accrued compensation
$ 6,830,000
$ 6,103,000
Short-term income taxes
$ 5,665,000
$ 2,121,000
Short-term unearned revenue
$ 32,676,000
$ 28,905,000
Other current liabilities
$ 9,351,000
$ 8,744,000
Total current liabilities
$ 69,420,000
$ 58,488,000
Long-term debt
$ 66,662,000
$ 72,242,000
Long-term income taxes
$ 29,612,000
$ 30,265,000
Long-term unearned revenue
$ 4,530,000
$ 3,815,000
Deferred income taxes
$ 233,000
$ 541,000
Operating lease liabilities
$ 6,188,000
$ 5,568,000
Other long-term liabilities
$ 7,581,000
$ 5,211,000
Misc. Stocks
$ -
$ -
Minority interest
$ -
$ -
Total liabilities
$184,226,000
$176,130,000
Stockholders' equity:
Common stock and paid-in capital - shares authorized 24,000; outstanding 7,643 and 7,677
$ 78,520,000
$ 71,223,000
Retained earnings
$ 24,150,000
$ 13,682,000
Accumulated other comprehensive loss/Other equity
$ (340,000)
$ (2,187,000)
Total stockholders' equity
$102,330,000
$ 82,718,000
Total liabilities and stockholders' equity
$286,556,000
$258,848,000
MICROSOFT CORPORATION
INCOME STATEMENTS
(In millions, except per share amounts) (Unaudited)
Twelve Months Ended June 30,
2019
2018
Sales:
Product
$66,069,000
$64,497,000
Service and other
$ 59,774,000
$ 45,863,000
Net sales
$125,843,000
$110,360,000
Cost of goods sold:
.
MICROSOFT CORPORATIONFinancialStatementFY20Q1BALANCE SHEETS.docx
MICROSOFT CORPORATION
FinancialStatementFY20Q1
BALANCE SHEETS
(In millions) (Unaudited)
June 30,
June 30,
2019
2018
Assets
Current assets:
Cash and cash equivalents
$11,356,000
$11,946,000
Short-term investments
$122,463,000
$ 121,822,000
Total cash, cash equivalents, and short-term investments
$133,819,000
$ 133,768,000
Accounts receivable, net of allowance for doubtful accounts of $411 and $377
$ 29,524,000
$ 26,481,000
Inventories
$ 2,063,000
$ 2,662,000
Other current assets
$ 10,146,000
$ 6,751,000
Total current assets
$175,552,000
$ 169,662,000
Long-term assets:
Property and equipment, net of accumulated depreciation of $35,330 and $29,223
$ 36,477,000
$ 29,460,000
Operating lease right-of-use assets
$ 7,379,000
$ 6,686,000
Equity investments
$ 2,649,000
$ 1,862,000
Goodwill
$ 42,026,000
$ 35,683,000
Intangible assets, net
$ 7,750,000
$ 8,053,000
Other long-term assets
$ 14,723,000
$ 7,442,000
Deferred asset charges
$ -
$ -
Total assets
$286,556,000
$258,848,000
Liabilities and stockholders' equity
Current liabilities:
Accounts payable
$9,382,000
$8,617,000
Short-term Debt/Current portion of long-term debt
$ 5,516,000
$ 3,998,000
Accrued compensation
$ 6,830,000
$ 6,103,000
Short-term income taxes
$ 5,665,000
$ 2,121,000
Short-term unearned revenue
$ 32,676,000
$ 28,905,000
Other current liabilities
$ 9,351,000
$ 8,744,000
Total current liabilities
$ 69,420,000
$ 58,488,000
Long-term debt
$ 66,662,000
$ 72,242,000
Long-term income taxes
$ 29,612,000
$ 30,265,000
Long-term unearned revenue
$ 4,530,000
$ 3,815,000
Deferred income taxes
$ 233,000
$ 541,000
Operating lease liabilities
$ 6,188,000
$ 5,568,000
Other long-term liabilities
$ 7,581,000
$ 5,211,000
Misc. Stocks
$ -
$ -
Minority interest
$ -
$ -
Total liabilities
$184,226,000
$176,130,000
Stockholders' equity:
Common stock and paid-in capital - shares authorized 24,000; outstanding 7,643 and 7,677
$ 78,520,000
$ 71,223,000
Retained earnings
$ 24,150,000
$ 13,682,000
Accumulated other comprehensive loss/Other equity
$ (340,000)
$ (2,187,000)
Total stockholders' equity
$102,330,000
$ 82,718,000
Total liabilities and stockholders' equity
$286,556,000
$258,848,000
MICROSOFT CORPORATION
INCOME STATEMENTS
(In millions, except per share amounts) (Unaudited)
Twelve Months Ended June 30,
2019
2018
Sales:
Product
$66,069,000
$64,497,000
Service and other
$ 59,774,000
$ 45,863,000
Net sales
$125,843,000
$110,360,000
Cost of goods sold:
.
Once each year, a corporation communicates to its stockholders.docx
Once each year, a corporation communicates to its stockholders and other inter-
ested parties by issuing a complete set of audited ! nancial statements. The
annual report , as this communication is called, summarizes the ! nancial results
of the company’s operations for the year and its plans for the future. Many annual
reports are attractive, multicolored, glossy public relations pieces, containing
pictures of corporate of! cers and directors as well as photos and descriptions of
new products and new buildings. Yet the basic function of every annual report is
to report ! nancial information, almost all of which is a product of the corpora-
tion’s accounting system.
The content and organization of corporate annual reports have become fairly
standardized. Excluding the public relations part of the report (pictures, prod-
ucts, etc.), the following are the traditional ! nancial portions of the annual report:
• Financial Highlights
• Letter to the Stockholders
• Management’s Discussion and
Analysis
• Financial Statements
• Notes to the Financial
Statements
• Management’s Responsibility
for Financial Reporting
• Management’s Report on Internal
Control over Financial Reporting
• Report of Independent Registered
Public Accounting Firm
• Selected Financial Data
The of! cial SEC ! ling of the annual report is called a Form 10-K, which
often omits the public relations pieces found in most standard annual reports. On
the following pages, we present Apple Inc.’s ! nancial statements taken from the
company’s 2013 Form 10-K. To access Apple’s Form 10-K, including notes to the
! nancial statements, follow these steps:
1. Go to http://investor.apple.com.
2. Select the Financial Information tab.
3. Select the 10-K annual report dated September 28, 2013.
4. The Notes to Consolidated Financial Statements begin on page 50.
Specimen Financial
Statements: Apple Inc.
Appendix A
A-1
A-2 Appendix A Specimen Financial Statements: Apple Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except number of shares which are reflected in thousands and per share amounts)
See accompanying Notes to Consolidated Financial Statements.
Years ended
September 28, 2013 September 29, 2012 September 24, 2011
Net sales $ 170,910 $ 156,508 $ 108,249
Cost of sales 106,606 87,846 64,431
Gross margin 64,304 68,662 43,818
Operating expenses:
Research and development 4,475 3,381 2,429
Selling, general and administrative 10,830 10,040 7,599
Total operating expenses 15,305 13,421 10,028
Operating income 48,999 55,241 33,790
Other income/(expense), net 1,156 522 415
Income before provision for income taxes 50,155 55,763 34,205
Provision for income taxes 13,118 ...
Expeditors International of Washington, 2nd05qer
Expeditors International of Washington, Inc. announced a 19% increase in net earnings for the second quarter of 2005 compared to the same period in 2004. Net revenues increased 13% and operating income rose 17%. For the first six months of 2005, net earnings were up 19% and net revenues increased 13% compared to the first half of 2004. The company attributed the strong financial results to increased demand from customers in retail rushing imports from China ahead of new trade restrictions.
Expeditors International of Washington, 3rd05qer
Expeditors International of Washington reported record quarterly earnings for Q3 2005. Net earnings increased 29% to $55.8 million compared to $43.1 million in Q3 2004. Revenues grew 17% to $281.9 million. For the first nine months of 2005, net earnings increased 23% to $138.2 million on 15% revenue growth to $763.3 million. The company attributed results to execution, efficiency gains, and ongoing volume increases in air and ocean freight.
StatementsWidgit Corporations December 31 Balance SheetsAssets201.docx
StatementsWidgit Corporation's December 31 Balance SheetsAssets20122011Cash$ 72,000$ 65,000Accounts receivable439,000328,000Inventories894,000813,000 Total current assets$ 1,405,000$ 1,206,000Land and building238,000271,000Machinery132,000133,000Other fixed assets61,00057,000Total assets$ 1,836,000$ 1,667,000Liabilities and equityAccounts payable$ 432,000$ 409,500Accrued liabilities170,000162,000 Total current liabilities$ 602,000$ 571,500Long-term debt404,290258,898Common stock575,000575,000Retained earnings254,710261,602Total liabilities and equity$ 1,836,000$ 1,667,000Widgit Corporation's December 31 Income Statements20122011Sales$ 4,240,000$ 3,635,000Cost of goods sold3,680,0002,980,000Gross profit$ 560,000$ 655,000General admin. and selling expenses236,320213,550Depreciation159,000154,500Miscellaneous134,000127,000 EBT$ 30,680$ 159,950Taxes (40%)12,27263,980 Net income$ 18,408$ 95,970
HorizontalWidgit Corporation's December 31 Balance SheetsAssets20122011
Dr. Letsch: Dr. Letsch:
Step 1: Set up your financial statements in this format.Dollar Change
Dr. Letsch: Dr. Letsch:
Determine the dollar amount of change between periods.Percentage Change
Dr. Letsch: Dr. Letsch:
Determine the percentage change by dividing the Dollar Change by the initial year data.Cash$ 72,000$ 65,0007,00010.8%Accounts receivable439,000328,000111,00033.8%Inventories894,000813,00081,00010.0% Total current assets$ 1,405,000$ 1,206,000199,00016.5%Land and building238,000271,000(33,000)-12.2%Machinery132,000133,000(1,000)-0.8%Other fixed assets61,00057,0004,0007.0%Total assets$ 1,836,000$ 1,667,000169,00010.1%Liabilities and equityAccounts payable$ 432,000$ 409,50022,5005.5%Accrued liabilities170,000162,0008,0004.9% Total current liabilities$ 602,000$ 571,50030,5005.3%Long-term debt404,290258,898145,39256.2%Common stock575,000575,00000.0%Retained earnings254,710261,602(6,892)-2.6%Total liabilities and equity$ 1,836,000$ 1,667,000169,00010.1%Widgit Corporation's December 31 Income Statements20122011Sales$ 4,240,000$ 3,635,000605,00016.6%Cost of goods sold3,680,0002,980,000700,00023.5%Gross profit$ 560,000$ 655,000(95,000)-14.5%General admin. and selling expenses236,320213,55022,77010.7%Depreciation159,000154,5004,5002.9%Miscellaneous134,000127,0007,0005.5% EBT$ 30,680$ 159,950(129,270)-80.8%Taxes (40%)12,27263,980(51,708)-80.8% Net income$ 18,408$ 95,970(77,562)-80.8%
VerticalWidgit Corporation's December 31 Balance SheetsAssets2012Percent2011Percent
Dr. Letsch: Dr. Letsch:
Separate columns; add percent columns; calculate percentages based on total assets, total L&E, and total sales depending on the statement or part of statement analyzed.Cash$ 72,0003.9%$ 65,0003.9%Accounts receivable439,00023.9%328,00019.7%Inventories894,00048.7%813,00048.8% Total current assets$ 1,405,00076.5%$ 1,206,00072.3%Land and building238,00013.0%271,00016.3%Machinery132,0007.2%133,0008.0%Other fi.
Link Ltd acquired 80 of the shares of Connect Ltd on 1 July.docx
Link Ltd acquired 80% of the shares of Connect Ltd on 1 July 2012 for $115 000. At this date the equity of Connect Ltd consisted of:
Share capital (100 000 shares)
General reserve
Retained earnings
$ 80 000
2 400
29 600
All the identifiable assets and liabilities of Connect Ltd were recorded at amounts equal to their fair values except for:
Carrying amount
Fair value
Plant (cost $65 000)
$52 000
$56 000
Land
40 000
45 000
Inventory
25 000
28 000
The plant was expected to have a further useful life of 10 years. The land was sold on 1 January 2015. The inventory was all sold by 30 June 2013. Link Ltd uses the full goodwill method. The fair value of the non-controlling interest (NCI) at 1 July 2012 was $28 000. At 1 July 2012, Connect Ltd had unrecorded brands that had a fair value of $18 000. These had an indefinite life.
Additional information
· Connect Ltd had inventory on hand at 30 June 2014 that included inventory at cost of $8000 that had been sold to it by Link Ltd. This inventory had cost Link Ltd $6000. It was all sold by Connect Ltd by 30 June 2015.
· During the 2014-15 year, Connect Ltd sold inventory to Link Ltd for $48 000. At 30 June 2015, Link Ltd still had some of this inventory on hand. This inventory had been sold to it by Connect Ltd at a profit of $4000.
· On 1 January 2014, Connect Ltd sold plant to Link Ltd for $16 000. This had a carrying amount in Connect Ltd at time of sale of $12 000. Plant of this class is depreciated at 20% per annum.
· Management and consultation fees derived by Link Ltd are all from Connect Ltd and represent charges for administration $1760 and technical services for the manufacturing section $2240.
· All debentures issued by Connect Ltd are held by Link Ltd.
· Other components of equity relate to movements in the fair values of financial assets held by the entities. Gains and losses on these financial assets are recognised in other comprehensive income. The balance of the other components of equity account at 1 July 2014 was $8000 (Link Ltd) and $6400 (Connect Ltd).
· The tax rate is 30%
· Financial information at 30 June 2015 of Link Ltd and its subsidiary company, Connect Ltd, is shown below.
Link Ltd
Connect Ltd
Sales revenue
$252 800
$176 000
Debenture interest
4 000
—
Management and consultation fees
4 000
—
Dividends
9 600
—
Total revenue
270 400
176 000
Cost of sales
(104 000)
(68 000)
Manufacturing expenses
(82 000)
(53 000)
Depreciation on plant
(12 000)
(12 000)
Administrative expenses
(12 000)
(6 400)
Financial expenses
(8 800)
(4 000)
Other expenses
(11 200)
(9 600)
Total expenses
230 000
153 000
Profit from trading
40 400
23 000
Gains on sale of non-current assets
10 000
5 000
Profit before income tax
50 400
28 000
Income tax expense
(20 000)
(13 600)
Profit for the year
30 400
14 400
Retained earnings at 1 July 2014
40 000
36 000
70 400
50 400
Dividend paid
(8 000)
(8 000)
Dividend declared
(8 000)
(4 000)
(16 000)
(12 000)
Retained earnings at 30 Ju ...
Business Plan ii Financials
The document provides an overview of financial planning concepts for a new business including how to create budgets, understand pricing, manage cash flow, and develop financial statements like income statements, balance sheets, and cash flow projections. It discusses factors that influence credit scores and how to analyze expenses, revenues, breakeven points, and sources of startup capital. The financial statements are tools to evaluate the ongoing financial health and performance of a business over time.
ConAgra Q4Jul04
The document provides the quarterly and annual financial results for a company. Some key highlights include:
- Several consumer brands posted sales growth for the quarter including Banquet, Blue Bonnet, and Chef Boyardee, while others like ACT II and Eckrich saw declines.
- Total depreciation and amortization was around $93 million for the quarter and $352 million for the fiscal year.
- Capital expenditures were around $106 million for the quarter and $352 million for the fiscal year.
- Net interest expense was $80 million for the quarter and $275 million for the fiscal year.
- Corporate expenses were around $95 million for the quarter and $342 million
Riordan Manufacturing, Inc.Consolidated Balance Sheet Fi.docx
Riordan Manufacturing, Inc.
Consolidated Balance Sheet
Fiscal Year Ending
September 30th
2011
2010
Assets
Current Assets
Cash
$3,725,406
$2,807,029
Accounts Receivable
3,192,094
2,695,342
Current Portion of Notes Receivable
84,255
102,976
Inventories
9,709,611
8,517,203
Prepaid Expenses and Other Items
666,591
402,240
Total Current Assets
$17,377,957
$14,524,790
Notes Receivable, less current portion
$842,551
$936,168
Investment in Joint Venture
1,734,004
1,609,004
Property, Plant and Equipment - net
26,366,949
16,658,218
Intangible Assets - net
904,473
904,473
Other Assets
183,203
192,845
Total Assets
$47,409,137
$34,825,498
Liabilities and Stockholders' Equity
Current Liabilities
Current Portion of Long-Term Debt
$1,560,959
$474,032
Accounts Payable
1,141,561
1,391,385
Accrued Liabilities
430,477
524,685
Income Taxes Payable
552,155
359,955
Total Current Liabilities
$3,685,152
$2,750,057
Bank Line of Credit
$114,759
$295,865
Long-Term Debt - less current portion
9,500,741
1,006,955
Deferred Income Taxes - net
660,503
825,629
Total Liabilities
$13,961,155
$4,878,506
Common Stock
Stated par value is $.01.
20,000,000 shares authorized.
Issued and Outstanding 15,801,332 net of treasury shares.
$29,055,488
$29,055,488
Retained Earnings / (Accumulated Deficit)
4,392,494
891,504
Total Stockholders' Equity
$33,447,982
$29,946,992
Total Liabilities and Stockholders' Equity
$47,409,137
$34,825,498
Balance SheetRiordan Manufacturing, Inc.Consolidated Balance SheetFiscal Year Ending September 30th20102009200820072006200520042003AssetsCurrent AssetsCash$2,807,029$1,511,253$1,040,639$1,442,507$1,336,319$305,563$357,216$85,632Accounts Receivable$2,695,342$2,644,307$2,883,964$4,544,138$4,855,334$6,062,838$5,657,216$6,556,160Current Portion of Notes Receivable$102,976$117,475$107,107$109,293$95,538$70,825$117,888$13,184Inventories$8,517,203$7,123,790$8,305,690$7,919,987$7,224,947$7,850,970$7,854,112$8,074,880Deferred Income Taxes - net$0$0$0$0$0$0$328,832$349,184Pre-paid Expenses and Other Items$402,240$458,875$279,336$294,038$256,903$264,896$328,192$336,128Total Current Assets$14,524,790$11,855,700$12,616,736$14,309,963$13,769,041$14,555,092$14,643,456$15,415,168Notes Receivable, less current portion$936,168$1,067,953$1,102,260$1,124,755$986,627$256,583$177,408$431,104Investment in Joint Venture$1,609,004$1,333,504$1,183,504$1,058,504$858,504$283,504$133,504$139,136Property, Plant & Equipment - net$16,658,218$17,767,486$18,869,612$18,424,594$24,510,830$19,114,830$18,511,360$19,205,120Intangible Assets - net$904,473$904,473$550,590$550,590$550,590$329,405$336,128$395,136Other Assets$192,845$175,314$106,721$108,899$107,821$52,768$54,400$51,840Total Assets$34,825,498$33,104,430$34,429,423$35,577,305$40,783,413$34,592,182$33,856,256$35,637,504Liabilities and Stockholders' EquityCurrent LiabilitiesCurrent Portion of Long-Term Debt$474,032$484,894$497,480$495,515$538,046$1,219,258$1,106,304$1,73 ...
A COM Balance Sheets As of December 31 2015 2014 Assets Current asset.pdf
A COM Balance Sheets As of December 31 2015 2014 Assets Current assets Cash Marketable
securities Accounts receivable (net) Inventories Prepaid items $ 20,000 20,800 49,000 134,000
28,000 16,000 6,800 41,000 142,000 13,000 Total current assets Investments Plant (net) Land
251,800 32,000 295,000 29,000 218,800 25,000 280,000 24,000 Total assets $607,800 $547,800
Liabilities and Stockholders\' Equity Liabilities Current liabilities Notes payable Accounts
payable Salaries payable $ 31,600 $ 17,700 100,000 17,000 113,800 23,000 Total current
liabilities 168,400 134,700 Noncurrent liabilities Bonds payable Other 120,000 120,000 32,000
152,000 320,400 27,000 147,000 281,700 Total noncurrent liabilities Total liabilities
Stockholders\' equity Preferred stock, (par value $10, 4% cumulative non-participating; 8,000
shares authorized and issued) 80,000 80,000 Common stock (No par; 50,000 shares authorized;
80,000 127,400 10,000 shares issued) 80,000 106,100 266,100 $607,800 $547,800 Retained
earnings Total stockholders\' equity 287,400 Total liabilities and stockholders\' equity
Solution
SOLUTION
1. Working Capital = Current assets - Current Liabilities
2014 -
Working capital = $218,800 - $134,700 = $84,100
2015-
Working capital = $251,800 - $168,400 = $83,400
2. Current Ratio = Current assets / Current liabilities
2014 -
Current ratio = $218,800 / $134,700 = 1.62
2015-
Current ratio = $251,800 / $168,400 = 1.50
3. Quick ratio = (Current assets - Inventories) / Current liabilities
2014 -
Quick ratio = ($218,800 - $142,000) / $134,700 = 0.57
2015-
Quick ratio = ($251,800 - $134,000) / $168,400 = 0.70
4. Receivable turnover = Net credit sales / Average accounts receivable
2014-
Average accounts receivable = (Beginning accounts receivable + Ending accounts receivable) / 2
= ($42,000 + $41,000) / 2 = $41,500
Receivable turnover = $290,000 / $41,500 = 6.99
2015-
Average accounts receivable = (Beginning accounts receivable + Ending accounts receivable) / 2
= ($41,000 + $49,000) / 2 = $45,000
Receivable turnover = $310,000 / $45,000 = 6.89.
Intermediate accounting 15th edition cHAPTER 5 /
Here is the statement of cash flows for 2014:
LANSBURY INC.
STATEMENT OF CASH FLOWS
For the Year Ended December 31, 2014
Cash flows from operating activities:
Net income $36,710
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation 11,330
Gain on sale of investments (3,730)
Changes in assets and liabilities:
(Increase) in accounts receivable (24,780)
Increase in accounts payable -
Net cash provided by operating activities $19,530
Cash flows from investing activities:
Proceeds from sale of investments $15,330
Purchase of land (22,710)
Similar to Total current liabilitiesYear-end stock price$43.39Refer.pdf (20)
Ratio AnalysisRatio AnalysisCompute the ratios below for Blue Bill.docx
Ratio AnalysisRatio AnalysisCompute the ratios below for Blue Bill.docx
Ratio AnalysisRatio AnalysisCompute the ratios below for Blue Bill.docx
Ratio AnalysisRatio AnalysisCompute the ratios below for Blue Bill.docx
Balance Sheet(in thousands)Thursday, September 30, 2010Friday, Sep.docx
Balance Sheet(in thousands)Thursday, September 30, 2010Friday, Sep.docx
Exercise 12-1Putnam Corporation had these transactions during 20.docx
Exercise 12-1Putnam Corporation had these transactions during 20.docx
1Exercise 8-4The ledger of Wainwright Company at the end of the cu.docx
1Exercise 8-4The ledger of Wainwright Company at the end of the cu.docx
The condensed financial statements of Leeward Corporation for 2006 a.docx
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MICROSOFT CORPORATIONFinancialStatementFY20Q1BALANCE SHEETS.docx
MICROSOFT CORPORATIONFinancialStatementFY20Q1BALANCE SHEETS.docx
MICROSOFT CORPORATIONFinancialStatementFY20Q1BALANCE SHEETS.docx
MICROSOFT CORPORATIONFinancialStatementFY20Q1BALANCE SHEETS.docx
Once each year, a corporation communicates to its stockholders.docx
Once each year, a corporation communicates to its stockholders.docx
StatementsWidgit Corporations December 31 Balance SheetsAssets201.docx
StatementsWidgit Corporations December 31 Balance SheetsAssets201.docx
Link Ltd acquired 80 of the shares of Connect Ltd on 1 July.docx
Link Ltd acquired 80 of the shares of Connect Ltd on 1 July.docx
Riordan Manufacturing, Inc.Consolidated Balance Sheet Fi.docx
Riordan Manufacturing, Inc.Consolidated Balance Sheet Fi.docx
A COM Balance Sheets As of December 31 2015 2014 Assets Current asset.pdf
A COM Balance Sheets As of December 31 2015 2014 Assets Current asset.pdf
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of design is to achieve acceptable probabilities that the structure will not become unfit for the use
for which it is intended, that is, it will not reach a limit state.
All relevant limit states are considered in design to ensure an adequate degree of safety and
serviceability. In general, the structure is designed on the basis of the most critical limit state and
checked for other limit states.
For ensuring the above objective, the design should be based on characteristic values for material
strengths and applied loads, which take into account the variations in the material strengths and
in the loads to be supported. The characteristic values should be based on statistical data if
available; where such data is not available, they should be based on experience.
The most important of the limit states is the Limit state of collapse. The limit state of collapse of
the structure or part of the structure could be assessed from rupture of one or more critical
sections and from buckling due to elastic or plastic instability (including the effects of sway
where appropriate) or overturning. The resistance to bending, shear, torsion and axial loads at
every section should not be less than the appropriate value at that section, produced by the
probable most unfavourable combination of loads on the structure using the appropriate partial
safety factors..
Transportation System PlanningHow will behavior change and what ar.pdf
Transportation System Planning
How will behavior change and what are the impacts if changes are made to the transportation and
activity system?
Solution
Transportation is the major element in the development of infrastructure of a country.
Transportation is the connectivity of all the places of the country through water ways,road
ways,and air ways.
If the changes in the transportation and activity system it has many impacts in the development
of the country high use of road connecting all the areas including villages will develop the
industrial and infrastructural growth of country..
Trio Company reports the following information for the current year.pdf
Trio Company reports the following information for the current year, which is its first year of
operations.
Solution
1) Cost per unit. Particulars Amount($) Direct materials 15 Direct Labor 16 Variable
overhead cost perunit (80000/20000) 4 Cost per unit 35 2) Cost of ending finished goods
inventory Particulars Amount($) Finished goods units 6000 Cost per unit 35 Total finished
goods cost 210000 3) Cost of Goods sold Particulars Amount($) Goods sold during the
year 14000 Cost per unit 35 Cost of goods sold 490000.
Trevor Price bought 10-year bonds issued by Harvest Foods five years.pdf
Trevor Price bought 10-year bonds issued by Harvest Foods five years ago for $914.46. The
bonds make semiannual coupon payments at a rate of 8.4 percent. If the current price of the
bonds is $1,001.17, what is the yield that Trevor would earn by selling the bonds today?
Solution
Coupon (PMT)= 1000*8.4%*1/2 = $ 42
Fv = 1072.36
PV = $ 981.08
nper = 5*2 = 10
Half Yearly Interest Rate = rate(nper,pmt,pv,fv)
Half Yearly Interest Rate = rate(10,42,-981.08,1072.36)
Half Yearly Interest Rate = 5.02%
Yield that Trevor would earn by selling the bonds today =(1+ 5.02/100)^(2) -1 = 10.29%.
Treasury stock should be shown on the balance sheet as a(n)a. R.pdf
Treasury stock should be shown on the balance sheet as a(n):
a. Reduction of the corporation\'s stockholders\' equity
b. Current asset
c. Current liability
d. Investment asset
Solution
correct option is \"A\" -reduction of the corporation\'s stockholders equity .
Treasury stock is a stock repurchased by company so it is shown by way of reduction from
stockholder equity..
Transportation Planning.1.What is the future direction of the Trav.pdf
Transportation Planning.
1.What is the future direction of the Travel Demand Analysis in the United States?Explain
breifly(Minimum 1.5 pages)
Solution
Since the beginning of civilization, the viability and economic success of communities have been
greatly determined by the efficiency of their transportation infrastructures. The need for efficient
transportation and land-use systems has never been more critical than it is today.
Vehicle Mile Traveled (VMT) per capita has started to decline in the United States since early
2000 years. Passenger travel demand seems to have decoupled from economic activity (i.e.
grows at lower rate). Starting in the mid 2000s, the average per-capita vehicle miles traveled
(VMT) have declined, after a long period of steady growth in the decades of the previous
century. An increased portion of Americans live without a car, and while the total amount of
person-trips in the country continues to rise, this has not translated into increased car use.
Instead, the use of alternative modes, including public transportation and active means of travel,
has increased.
Impact of the economic recession, changes in gas prices, demographic trends, changes in the
urban form of American cities, and emerging changes in personal preferences and lifestyles are
few parameters to account for the slow down of the Travel Demand. The VMT per capita, as
well as the rates of vehicle ownership, including the number of vehicles per person, vehicles per
licensed driver, and vehicles per household, reached their respective peaks between 2004 and
2006. However, the economic crisis from 2007-2009 has certainly contributed to reducing total
VMT in the country.
Changes in travel demand have become important with implications for the urban and
transportation planning owing to the large financial investments and considerable time required
to provide new transportation infrastructure and services.
To understand the situation and adopt corrective measures, Statewide travel forecasting models
to predict all travel in the state, potentially by all modes, for both goods and people are bein
undertaken. This includes Super-regional models statewide that cover all or parts of multiple
states and possibly the whole of the US. Researchers have been undertaking such research
initiatives and efforts, to upgrade the existing models and develop new models. These studies are
generally under the umbrella of the American Association of State Highway and Transportation
Officials (AASHTO).
The importance of statewide models stems directly from the amount of long-distance (as defined
within the NHTS as more than 50 miles), and intercity travel in the US. Statewide models go
beyond metropolitan models principally by including larger, if not all, portions of long distances
trips and by explicitly including passenger and freight modes for intercity travel. Almost two-
thirds of the states have active modeling efforts, with one or two states completing a new model
each year..
Transportation ProblemThe following table shows the production cap.pdf
Transportation Problem
The following table shows the production capacity, unit production cost, and unit shipping cost
from three plants at St. Louis, Evansville, and Bloomington to warehouses at Terre Haute,
Indianapolis, Fort Wayne, and South Bend. We need to minimize the total cost.
C. Write the objective function.SourceDestinationPlant CityProduction
Capaticy
UnitsUnit
Production
CostTerre
HauteIndianapolisForst
WayneSouth
BendSt. Louis1001086129Evansville1101255108Bloomington1201532910Demand
(Units)150604545
Solution
Total Cost as per Above Allotment.
=((25x10)+(45x10))+((90x12)+(20x12))+((60x15)+(60x15))=3820/-.
translate the following sentence into symbols using propositional .pdf
translate the following sentence into symbols using propositional logic
I am going to the movies, but without Kevin, if both Susan and Josh go .
Symbols that may be used are: ->, &, v (or), - (not)
Dictionary:
I – I am going to the movies.
K – Kevin is going to the movies
S – Susan is going to the movies.
J – Josh is going to the movies.
Solution
(S & J) -> (I & -K).
Translate statement into a logical expression in three differentways.pdf
Translate statement into a logical expression in three differentways by varying the domain and
by using predicates with one andwith two variables!
\"Everyone in your school was born in the twentieth century.\"
Solution
If we let C (x) be “x was born in the 20th century” then we have xB(x) if everyone
in the universe goes to your school, or x(Y(x) B(x)) if the universe is all people. If we let B(x,y)
mean that the person x was born in century Y, then we can rewrite this last one as x(Y(x)
B(x,20th century)).
Translate each of the following propositions into symbolic form. Den.pdf
Translate each of the following propositions into symbolic form. Dene the universe
of discourse and the predicates you use. Then negate each of the propositions
(a) All leaves are green.
Solution
In the universe of foliage, L(x) := x is a leaf G(x) := x is green For all x, L(x) -->
G(x) Translated: For all pieces of foliage, if a piece of foliage is a leaf, then it is green..
Traditionally Americans have placed value on the nuclear family beca.pdf
Traditionally Americans have placed value on the nuclear family because this type of family is
characterized by independence and geographic mobility.
A/ TRUE
B/ FALSE
A/ TRUE
B/ FALSE
Solution
True.
The term nuclear family refers to the family group consisting of parents and children, as opposed
to the extended family which includes all those with kinship ties. Prior to industrialization,
nuclear family was not financially viable but post it with per capita income on the rise enabled it
possible.
The rate of geographical mobility in USA as compared to UK,Australia & Japan is the highest
(reference- The geographical mobility of Americans: an international comparison by Larry H.
Long, Celia G. Boertlein, United States). This we can consider along with level of indepence
which nuclear family provides as among the most important reasons for high concentration of
nuclear families in US..
Total sources of funds are calculated as-operating cash flows + n.pdf
Total sources of funds are calculated as:
-operating cash flows + new issues of equity
-operating cash flows + new issues of equity + new issues of long-term debt
-operating cash flows + new issues of equity-new issues of long-term debt
-operating cash flows + new issues of equity-dividend paid to shareholders
Solution
FUND=WORKING CAPITAL=CURRENT ASSETS-CURRENT LIABILITIES
=>SOURCES OF FUNDS=OPERATING CASH FLOW+NEW ISSUE OF EQUITY+NEW
ISSUE OF LONG-TERM DEBT.
toss a coin with a probability of heads 0.3 Five times. Let X be the.pdf
toss a coin with a probability of heads 0.3 Five times. Let X be the number of tails. Find P(X=2)
and P(X greater than or equal to 1)
Solution
Given Probability of head = 0.3
Five times
So P(X=2) = 5c2 0.33 0.72 = 0.132
P(X greater than or equal to 1) = 1-P(X<1) = 1-0.35 = 0.998.
To what extent can a country be 100 independent from the rest of th.pdf
To what extent can a country be 100% independent from the rest of the world? Is there any
country like that in the world? Maybe North Korea, but North Korea receives supports from
China.
Solution
In principle and in theory, anything can happen.
First, as always, we have to supply some more specific content for \"survive and prosper\". Are
we assuming some preferences underlying the whole issue? If yes, then what kind of preferences
are they? What kind of material goods and services do these preferences favor? Can these
material goods and services be provided by the country\'s own resources, and to what degree?
Looking at history though, (as we should), we notice that long-long before \"global trade
liberalization\" policies became an officially declared goal and agenda of the powerful
economies of the planet, international trade existed and expanded. For thousand of years humans
are observed to trade with abroad -and no, nobody forced them to. So it appears that international
trade gets chosen by human societies as a way to prosper. And because this choice has been
revealed time and again, through different eras, civilizations, cultures, productive capabilities etc,
it makes it difficult to think that a country could obtain a comparable level of prosperity without
international trade.
Survival, though, is another matter, since it is much more easy to survive than to prosper (as an
individual or as a country)..
To test whether Internet use increases depression score, we measure .pdf
To test whether Internet use increases depression score, we measure the depression
scores of a random sample of non-Internet-users, have them use the Internet for a
specified time, then measure their depression scores again.
A. matched pairs t-test
B. two-sample t-test
C. ANOVA
D. chi-squared test for independence
E. inference for regression
Solution
Since we test the same subject twice, we use paired t test.
Answer: A. matched pairs t-test.
To study the long-term effects of preschool programs for poor c.pdf
To study the long-term effects of preschool programs for poor children, the High/Scope
Educational Research Foundation has followed two groups of Michigan children since early
childhood. One group of 62 attended preschool as 3- and 4-year-olds. A control group of 61
children from the same area and similar backgrounds did not attend preschool. Over a ten-year
period as adults, 38 of the preschool sample and 49 of the control sample needed social services
(mainly welfare).
Solution
b b c d a.
To select a _________ sample, the population is divided into disjoin.pdf
To select a _________ sample, the population is divided into disjoint subgroups according to
some characteristics like income level, and then a few individuals are selected randomly from
each of the subgroups to be in the sample. (Points : 1)
stratified
random
cluster
systematic
Solution
stratified The subgroups in stratified sampling are mutually exclusive..
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- 1. Total current liabilities Year-end stock price $43.39 Refer to Exhibit 4.1. What is the firm's book value per share? $26.00 $24.70 $22.29 $23.47 $27.30Balance Sheet (Millions of $)Assets2014Cash and securities$ 2,500Accounts receivable11,500Inventories16,000Total current assets$30,000Net plant and equipment$20,000Total assets $50,000Liabilities and EquityAccounts payable$ 9,500Accruals 5,500Notes payable 7,000 Total current liabilities $22,000Long-term bonds$15,000Total liabilities$37,000Common stock$ 2,000Retained earnings11,000Total common equity$13,000Total liabilities and equity $50,000Income Statement (Millions of $)2014Net sales$87,500Operating costs except depreciation81,813Depreciation1,531Earnings bef interest and taxes (EBIT)$ 4,156Less interest1,375Earnings before taxes (EBT)$ 2,781Taxes973Net income$ 1,808Other data:Shares outstanding (millions)500.00Common dividends$632.73Int rate on notes payable & L-T bonds6.25%Federal plus state income tax rate35% Year-end stock price $43.39 Solution Book value per share = total equity/no of shares ie = 13000/500 26 So option a is correct