中级财务会计英计算题.docx
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中级财务会计英计算题
中级财务会计英计算题
第五章各种报表数据填写
Ex.5-116—Statementofcashflowsratios.
FinancialstatementsforHiltonCompanyarepresentedbelow:
HiltonCompany
BalanceSheet
December31,2010
AssetsLiabilities&Stockholders’Equity
Cash$40,000Accountspayable$20,000
Accountsreceivable35,000Bondspayable50,000
Buildingsandequipment150,000
Accumulateddepreciation—
buildingsandequipment（50,000）Commonstock65,000
Patents20,000Retainedearnings60,000
$195,000$195,000
HiltonCompany
StatementofCashFlows
FortheYearEndedDecember31,2010
Cashflowsfromoperatingactivities
Netincome$50,000
Adjustmentstoreconcilenetincometonetcash
providedbyoperatingactivities:
Increaseinaccountsreceivable$（16,000）
Increaseinaccountspayable8,000
Depreciation—buildingsandequipment15,000
Gainonsaleofequipment（6,000）
Amortizationofpatents2,0003,000
Netcashprovidedbyoperatingactivities53,000
Cashflowsfrominvestingactivities
Saleofequipment12,000
Purchaseofland（25,000）
Purchaseofbuildingsandequipment（48,000）
Netcashusedbyinvestingactivities（61,000）
Cashflowsfromfinancingactivities
Paymentofcashdividend（15,000）
Saleofbonds40,000
Netcashprovidedbyfinancingactivities25,000
Netincreaseincash17,000
Cash,January1,201023,000
Cash,December31,2010$40,000
Atthebeginningof2010,AccountsPayableamountedto$12,000andBondsPayablewas$10,000.
Instructions
CalculatethefollowingforHiltonCompany:
a.Currentcashdebtcoverageratio
b.Cashdebtcoverageratio
c.Freecashflow
Solution5-116
Netcashprovidedbyoperatingactivities
a.Currentcashdebtcoverageratio=——————————————————
Averagecurrentliabilities
$53,000$53,000
=———————————=————=3.3:
1
（$12,000+$20,000）÷2$16,000
Netcashprovidedbyoperatingactivities
b.Cashdebtcoverageratio=——————————————————
Averagetotalliabilities
$53,000$53,000
=———————————=————=1.2:
1
（$22,000+$70,000）÷2$46,000
c.Freecashflow=Netcashprovidedbyoperatingactivities–
capitalexpendituresanddividends
=$53,000–*$73,000–$15,000=$（35,000）
*$25,000+$48,000
Pr.5-118—Balancesheetpresentation.
ThefollowingbalancesheetwaspreparedbythebookkeeperforKrausCompanyasofDecember31,2010.
KrausCompany
BalanceSheet
asofDecember31,2010
Cash$80,000Accountspayable$75,000
Accountsreceivable（net）52,200Long-termliabilities100,000
Inventories57,000Stockholders'equity218,500
Investments76,300
Equipment（net）96,000
Patents32,000
$393,500$393,500
Thefollowingadditionalinformationisprovided:
1.Cashincludesthecashsurrendervalueofalifeinsurancepolicy$9,400,andabankoverdraftof$2,500hasbeendeducted.
2.Thenetaccountsreceivablebalanceincludes:
（a）accountsreceivable—debitbalances$60,000;
（b）accountsreceivable—creditbalances$4,000;
（c）allowancefordoubtfulaccounts$3,800.
3.Inventoriesdonotincludegoodscosting$3,000shippedoutonconsignment.Receivablesof$3,000wererecordedonthesegoods.
4.Investmentsincludeinvestmentsincommonstock,trading$19,000andavailable-for-sale$48,300,andfranchises$9,000.
5.Equipmentcosting$5,000withaccumulateddepreciation$4,000isnolongerusedandisheldforsale.Accumulateddepreciationontheotherequipmentis$40,000.
Instructions
Prepareabalancesheetingoodform（stockholders'equitydetailscanbeomitted.）
Solution5-118
KrausCompany
BalanceSheet
AsofDecember31,2010
Assets
Currentassets
Cash$73,100
（1）
Tradingsecurities19,000
Accountsreceivable$57,000
（2）
Less:
Allowancefordoubtfulaccounts3,80053,200
Inventories60,000（3）
*Equipmentheldforsale1,000（4）
Totalcurrentassets206,300
Investments
Available-for-salesecurities48,300
Cashsurrendervalue9,40057,700
Property,plant,andequipment
Equipment135,000（5）
Lessaccumulateddepreciation40,00095,000
Intangibleassets
Patents32,000
Franchises9,00041,000
Totalassets$400,000
LiabilitiesandStockholders'Equity
Currentliabilities
Accountspayable$79,000（6）
Bankoverdraft2,500
Totalcurrentliabilities81,500
Long-termliabilities100,000
Totalliabilities181,500
Stockholders'equity218,500
Totalliabilitiesandstockholders'equity$400,000
（1）（$80,000–$9,400+$2,500）
（2）（$60,000–$3,000）
（3）（$57,000+$3,000）
（4）（$5,000–$4,000）
（5）（$96,000+$40,000–$5,000+$4,000）
（6）（$75,000+$4,000）
*Analternativeistoshowitasanotherasset.
Pr.5-119—Balancesheetpresentation.
GiventhefollowingaccountinformationforLeongCorporation,prepareabalancesheetinreportformforthecompanyasofDecember31,2010.Allaccountshavenormalbalances.
Equipment40,000
InterestExpense2,400
InterestPayable600
RetainedEarnings?
Dividends50,400
Land137,320
Inventory102,000
BondsPayable78,000
NotesPayable（duein6months）14,400
CommonStock60,000
AccumulatedDepreciation-Eq.10,000
PrepaidAdvertising5,000
Revenue331,400
Buildings80,400
Supplies1,860
TaxesPayable3,000
UtilitiesExpense1,320
AdvertisingExpense1,560
SalaryExpense53,040
SalariesPayable900
AccumulatedDepr.-Bld.15,000
Cash30,000
DepreciationExpense,
Building&Equipment8,000
Solution5-119
LeongCorporation
BalanceSheet
December31,2010
Assets
Cash
$30,000
Inventory
102,000
Supplies
1,860
Prepaidadvertising
5,000
Totalcurrentassets
$138,860
Land
137,320
Building
$80,400
Accumulateddepreciation-bld
（15,000）
65,400
Equipment
40,000
Accumulateddepreciation-eq
（10,000）
30,000
232,720
Totalassets
$371,580
Liabilities&Stockholders'Equity
Notespayable
$14,400
Taxespayable
3,000
Salariespayable
900
Interestpayable
600
Totalcurrentliabilities
$18,900
Long-termliabilities
Bondpayable
78,000
Totalliabilities
96,900
Commonstock
60,000
Retainedearnings（$265,080*-$50,400）
214,680
Totalstockholders'equity
274,680
Totalliabilities&stockholders'equity
$371,580
*$331,400-$53,040-$8,000-$2,400-$1,560-$1,320
Pr.5-120—Statementofcashflowspreparation.
SelectedfinancialstatementinformationandadditionaldataforStanislausCo.ispresentedbelow.PrepareastatementofcashflowsfortheyearendingDecember31,2010
December31
20092010
Cash$42,000$63,000
Accountsreceivable（net）84,000151,200
Inventory168,000201,600
Land58,80021,000
Equipment504,000789,600
TOTAL$856,800$1,226,400
Accumulateddepreciation$84,000$115,600
Accountspayable50,40086,000
Notespayable-Short-term67,20029,400
Notespayable-Long-term168,000302,400
Commonstock420,000487,200
Retainedearnings67,200205,800
TOTAL$856,800$1,226,400
Additionaldatafor2010:
1.Netincomewas$235,200.
2.Depreciationwas$31,600.
3.Landwassoldatitsoriginalcost.
4.Dividendsof$96,600werepaid.
5.Equipmentwaspurchasedfor$84,000cash.
6.Along-termnotefor$201,600wasusedtopayforanequipmentpurchase.
7.Commonstockwasissuedtopaya$67,200long-termnotepayable.
Solution5-120
StanislausCo.
StatementofCashFlows
FortheyearendedDecember31,2010
NetIncome$235,200
Cashflowfromoperatingactivities
Depreciationexpense31,600
Increaseinaccountsreceivable（67,200）
Increaseininventory（33,600）
Increaseinaccountspayable35,600
Decreaseinshort-termnotespayable（37,800）（71,400）
Netcashprovidedbyoperatingactivities163,800
Cashflowfrominvestingactivities
Purchaseequipment（84,000）
Saleofland37,800
Netcashusedbyinvestingactivities（46,200）
Cashflowfromfinancingactivities
Paymentofcashdividend（96,600）
Netcashusedbyfinancingactivities（96,600）
Netincreaseincash21,000
Cashatbeginningofyear42,000
Cashatendoftheyear63,000
Noncashinvestingandfinancingactivities
Paymentoflong-termnotepayablewithissuanceof$67,200ofcommonstock
Pr.5-121—Statementofcashflowspreparation.
SelectedfinancialstatementinformationandadditionaldataforJohnstonEnterprisesispresentedbelow.PrepareastatementofcashflowsfortheyearendingDecember31,2010
JohnstonEnterprises
BalanceSheetandIncomeStatementData
December31,December31,
20102009___
CurrentAssets:
Cash$153,000$119,000
AccountsReceivable238,000306,000
Inventory391,000340,000
TotalCurrentAssets782,000765,000
Property,Plant,andEquipment1,241,0001,122,000
Less:
AccumulatedDepreciation（476,000）（442,000）
TotalAssets$1,547,000$1,445,000
CurrentLiabilities:
AccountsPayable$187,000$102,000
NotesPayable51,00068,000
IncomeTaxPayable85,00076,500
TotalCurrentLiabilities323,000246,500
BondsPayable340,000391,000
TotalLiabilities663,000637,500
Stockholders'Equity:
CommonStock510,000467,500
RetainedEarnings374,000340,000
TotalStockholders'Equity884,000807,500
TotalLiabilities&Stockholders'Equity$1,547,000$1,445,000
Sales1,615,000$1,513,000
LessCostofGoodsSold731,000731,000
GrossProfit884,000782,000
Expenses:
DepreciationExpense153,000136,000
SalaryExpense391,000357,000
InterestExpense34,00034,000
LossonSaleofEquipment17,0000
IncomeBeforeTaxes289,000255,000
LessIncomeTaxExpense119,000102,000
NetIncome$170,000$153,000
AdditionalInformation:
Duringtheyear,Johnstonsoldequipmentwithanoriginalcostof$153,000andaccumulatedde
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