财务报表分析第10章习题答案讲解学习.docx
《财务报表分析第10章习题答案讲解学习.docx》由会员分享,可在线阅读,更多相关《财务报表分析第10章习题答案讲解学习.docx(29页珍藏版)》请在冰豆网上搜索。
财务报表分析第10章习题答案讲解学习
据了解,百分之八十的饰品店都推出“DIY饰品”来吸引顾客,一方面顺应了年轻一代喜欢与众不同、标新立异的心理;另一方面,自制饰品价格相对较低,可以随时更新换代,也满足了年轻人“喜新厌旧”的需要,因而很受欢迎。
价格便宜些□服务热情周到□店面装饰有个性□商品新颖多样□
他们的成功秘诀在于“连锁”二字。
凭借“连锁”,他们在女孩们所喜欢的小玩意上玩出了大名堂。
小店连锁,优势明显,主要有:
世界上的每一个国家和民族都有自己的饰品文化,将这些饰品汇集到一起再进行新的组合,便可以无穷繁衍下去,满足每一个人不同的个性需求。
5、你认为一件DIY手工艺制品在什么价位可以接受?
(二)DIY手工艺品的“热卖化”
木质、石质、骨质、琉璃、藏银……一颗颗、一粒粒、一片片,都浓缩了自然之美,展现着千种风情、万种诱惑,与中国结艺的朴实形成了鲜明的对比,代表着欧洲贵族风格的饰品成了他们最大的主题。
附件
(二):
中式饰品风格的饰品绝对不拒绝采用金属,而且珠子的种类也更加多样。
五光十色的水晶珠、仿古雅致的嵌丝珐琅珠、充满贵族气息的景泰蓝珠、粗糙前卫的金属字母珠片的材质也多种多样。
但这些困难并非能够否定我们创业项目的可行性。
盖茨是由一个普通退学学生变成了世界首富,李嘉诚是由一个穷人变成了华人富豪第一人,他们的成功表述一个简单的道理:
如果你有能力,你可以从身无分文变成超级富豪;如果你无能,你也可以从超级富豪变成穷光蛋。
Chapter10
StatementofCashFlows
PROBLEMS
PROBLEM10-1
CashFlowsClassification
EffectonCash
_________Data___________
Operating
Activity
Investing
Activity
Financing
Activity
Increase
Decrease
Non-cash
Trans-
action
a.NetLoss
b.Increaseininventory
c.Decreaseinreceivables
d.Increaseinprepaid
insurance
e.Issuanceofcommon
stock
f.Acquisitionofland
usingnotespayable
g.Purchaseofland
usingcash
h.Paidcashdividend
i.Paymentofincome
taxes
j.Retirementofbonds
usingcash
k.Saleofequipmentfor
cash
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
PROBLEM10-2
CashFlowsClassification
EffectonCash
Data
Operating
Activity
Investing
Activity
Financing
Activity
Increase
Decrease
Non-cash
Trans-
action
a.Netincome
b.Paidcashdividend
c.Increaseinreceivables
d.Retirementofdebt,
payingcash
e.Purchaseoftreasury
stock
f.Purchaseofequipment
g.Saleofequipment
h.Decreaseininventory
i.Acquisitionofland
usingcommonstock
j.Retiredbondsusing
commonstock
k.Decreaseinaccounts
payable
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
PROBLEM10-3
a.BBBCompany
StatementofCashFlows
FortheYearEndedDecember31,2005
Cashflowsfromoperatingactivities:
Netincome$500
Noncashexpenses,revenues,losses,and
gainsincludedinincome:
Depreciation$2,800
Gainonsaleofland(800)
Decreaseinaccountsreceivable400
Decreaseininventory500
Increaseinaccountspayable800
Increaseinwagespayable50
Decreaseintaxespayable(1,000)2,750
Netcashflowfromoperatingactivities3,250
Cashflowsfrominvestingactivities:
Landwassoldfor1,800
Equipmentwaspurchasedfor(3,500)
Netcashusedforinvestingactivities(1,700)
Cashflowsfromfinancingactivities:
Dividendsdeclaredandpaid(4,350)
Commonstockwassoldfor3,800
Netcashusedforfinancingactivities(550)
Netincreaseincashandmarketablesecurities$1,000
b.Netcashflowfromoperatingactivitieswassubstantiallymorethanthenetincome.Cashdividendsweregreaterthanthenetcashflowfromoperatingactivities.
Thecashfromissuingthecommonstockwassufficienttocoverthenetcashusedforinvestingactivities,increasethecashandmarketablesecuritiesaccounts,andpartiallycoverthelargecashdividend.
Thefactthatalong-termsourceoffunds(commonstock)wasusedtocoverpartofthecashdividendsisanegativeobservation.Thelargecashdividendinrelationtonetcashflowfromoperatingactivitieswouldalsobeconsideredanegativesituation.
PROBLEM10-4
FrishCompany
a.ScheduleofChangeFromAccrualTo
CashBasisIncomeStatement
AccrualBasisAdjustmentsAdd(Subtract)CashBasis
Netsales$640,000Increaseinaccounts
receivable($27,000)$613,000
Lessexpenses:
Costofgoods
sold360,000Increaseinaccounts
payable(15,000)
Increaseininven-
tories35,000
Depreciationexpense(15,000)365,000
Sellingand
administrative
expense43,000Decreaseinprepaid
expenses(1,000)
Increaseinaccrued
liabilities(3,000)
Depreciationexpense(5,000)34,000
Otherexpense2,000Amortizationof
goodwill(3,000)
Amortizationofbond
premium1,000-0-
Incomebefore_______
income
taxes235,000214,000
Incometax92,000Decreaseinincome
taxespayable10,000102,000
Netincome$143,000$112,000
b.
(1)DirectApproach
Receiptsfromcustomers$613,000
Paymentstosuppliers(365,000)
Sellingandadministrativeexpenses(34,000)
Incometaxespaid(102,000)
Cashflowsfromoperatingactivities$112,000
(2)IndirectApproach
Netincome$143,000
Add(deduct)itemsnotaffectingcash
Depreciation20,000
Amortizationofgoodwill3,000
Amortizationofbondpremium(1,000)
Increaseinaccountsreceivable(27,000)
Increaseinaccountspayable15,000
Increaseininventories(35,000)
Decreaseinprepaidexpenses1,000
Increaseinaccruedliabilities3,000
Decreaseinincometaxespayable(10,000)
Cashflowfromoperatingactivities$112,00
PROBLEM10-5
a.TheincomestatementandotherselecteddatafortheBoyerCompanyisshownbelow.
BoyerCompany
ScheduleofChangeFromAccrualTo
CashBasisIncomeStatement
AccrualBasis
Adjustments
Add
(Subtract)
Cash
Basis
Sales
$19,000
Increaseinreceivables
(400)
$18,600
Lessoperatingexpenses:
Depreciation
2,300
Depreciationexpense
(2,300)
-0-
Otheroperatingexpenses
12,000
Increaseininventories
Increaseinaccounts
payable
800
(500)
12,300
Operatingincome
4,700
6,300
Lossonsaleofland
1,500
Lossonsaleofland
(1,500)
__-0-
Incomebeforetax
expense
3,200
6,300
Taxexpense
1,000
Decreaseinincome
taxespayable
400
1,400
Netincome
$2,200
$4,900
b.
(1)DirectApproach
Receiptsfromcustomers$18,600
Paymentstosuppliers(12,300)
Incometaxespaid(1,400)
Cashflowfromoperatingactivities$4,900
(2)IndirectApproach
Netincome$2,200
Add(deduct)itemsnot
affectingcash:
Depreciation$2,300
Increaseinreceivables(400)
Increaseininventories(800)
Increaseinaccountspayable500
Lossonsaleofland1,500
Decreaseinincometaxespayable(400)2,700
Cashflowfromoperatingactivities$4,900
PROBLEM10-6
a.SampsonCompany
StatementofCashFlows
FortheYearEndedDecember31,2005
Netcashflowfromoperatingactivities:
Netincome$19,000
Noncashexpenses,revenues,losses,and
gainsincludedinincome:
Depreciationexpense$10,000
Increaseinnetreceivables(7,000)
Increaseininventory(13,000)
Increaseinaccountspayable5,000
Decreaseinaccruedliabilities(17,000)
Netcashoutflowfromoperating
activities(3,000)
Cashflowsfrominvestingactivities:
Plantassetsincrease(15,000)
Cashflowsfromfinancingactivities:
Mortgagepayableincrease$11,000
Commonstockincrease6,000
Dividendspaid(21,000)
Netcashflowsfromfinancing
activities$(4,000)
Netdecreaseincash$(22,000)
b.SampsonCompany
StatementofCashFlows
FortheYearEndedDecember31,2005
Cashflowfromcustomers$138,000
($145,000-$7,000)
Cashpaymentstosuppliers(123,000)
($108,000-$10,000+$13,000-$5,000+
$17,000)
Cashoutflowforotherexpenses(6,000)
Taxpayments(12,000)
Netcashoutflowfromoperatingactivities($3,000)
Cashflowsfrominvestingactivities:
Plantassetsincrease(15,000)
Cashflowsfromfinancingactivities:
Mortgagepayableincrease$11,000
Commonstockincrease6,000
Dividendspaid(21,000)
Netcashoutflowfromfinancingactivities(4,000)
Netdecreaseincash$(22,000)
c.Allmajorsegmentsofcashflowswerenegative.Netcashoutflowfromoperatingactivitieswasnegativeby$3,000,andyetdividendswerepaidintheamountof$21,000.Also,thecompanyhadanegativecashflowfrominvestingactivities.Thesenegativecashflowswerepartiallymadeupforbyissuingamortgagepayable($11,000)andcommonstock($6,000).
PROBLEM10-7
a.Comment
Theusualguidelineforthecurrentratioistwotoone.ArrowbellCompanyhada1.14to1ratioin2004anda.85to1ratioin2005.Theusualguidelinefortheacid-testratioisonetoone.ArrowbellCompanyhada.68to1ratioin2004anda.49to1ratioin2005.
Thecashratiodroppedfrom.19in2004to.12in2005.Theworkingcapitalin2004was$197,958,andin2005ithaddeclinedtoanegative$319,988.
Theshort-termdebtpositionappearstobeverypoor.
ComputationofRatios
CurrentRatio=CurrentAssets
CurrentLiabilities
20052004
$1,755,303=.85$1,599,193=1.14
$2,075,291$1,401,235
CashEquivalents&NetReceivables&
Acid-TestRatio=MarketableSecurities_______________
CurrentLiabilities
2005
$250,480+$760,950=.49
$2,075,291
2004
$260,155+$690,550=.68
$1,401,235
CashRatio=CashEquivalents&MarketableSecurities
CurrentLiabilities
20052004
$250,480=.12$260,155=.19
$2,075,291$1,401,235
OperatingCashFlow/CurrentOperatingCashFlow
MaturitiesofLong-TermDebt=CurrentMaturitiesofLong-Term
andCurrentNotesPayableDebtandCurrentNotesPayable
20052004
$429,491=46.93%$177,658=32.29%
$915,180$550,155
b.SupplierswillbeconcernedthatArrowbellCompanywillnotbeabletopayitscreditorsand,ifpaymentismade,itwillbelaterthanthecreditterms.Theshort-termcreditorsarefinancingtheexpansionprogram.
c.Thedebtratiohasincreasedin2005to.61from.58in2004.Thedebt/equityratiohasincreasedin2005to1.55from1.36in2004.(Asimilarincreaseinthedebttotangiblenetworthas