财务报表分析第10章习题答案汇编.docx

1、财务报表分析第10章习题答案汇编附件（二）：据调查，大学生对此类消费的态度是：手工艺制品消费比“负债”消费更得人心。功能性手工艺品。不同的玉石具有不同的功效，比如石榴石可以促进血液循环，改善风湿和关节炎；白水晶则可以增强记忆力；茶晶能够帮助镇定情绪，缓解失眠、头昏等症状。顾客可以根据自己的需要和喜好自行搭配，每一件都独一无二、与众不同。（二）创业优势分析5、你认为一件DIY手工艺制品在什么价位可以接受？在上海， 随着轨道交通的发展，地铁商铺应运而生，并且在重要商圈已经形成一定的气候，投资经营地铁商铺逐渐为一大热门。在人民广场地下的迪美购物中心，有一家DIY自制饰品店-“碧芝自制饰品店”2 ww

2、w。cer。net/artide/2003082213089728。shtml。10、如果学校开设一家DIY手工艺制品店，你希望（5) 资金问题（二）DIY手工艺品的“热卖化”Chapter 10Statement of Cash FlowsPROBLEMSPROBLEM 10-1Cash Flows Classification Effect on Cash_Data_OperatingActivityInvestingActivityFinancingActivityIncreaseDecreaseNon-cashTrans-actiona. Net Lossb. Increase in

3、inventoryc. Decrease in receivablesd. Increase in prepaid insurancee. Issuance of common stockf. Acquisition of land using notes payableg. Purchase of land using cashh. Paid cash dividendi. Payment of income taxesj. Retirement of bonds using cashk. Sale of equipment for cashXXXXXXXXXXXXXXXXXXXXPROBL

4、EM 10-2Cash Flows ClassificationEffect on CashDataOperatingActivityInvestingActivityFinancingActivityIncreaseDecreaseNon-cashTrans-actiona. Net incomeb. Paid cash dividendc. Increase in receivablesd. Retirement of debt, paying cashe. Purchase of treasury stockf. Purchase of equipmentg. Sale of equip

5、menth. Decrease in inventoryi. Acquisition of land using common stockj. Retired bonds using common stockk. Decrease in accounts payableXXXXXXXXXXXXXXXXXXXXPROBLEM 10-3a. BBB CompanyStatement of Cash FlowsFor the Year Ended December 31, 2005 Cash flows from operating activities: Net income $ 500 Nonc

6、ash expenses, revenues, losses, and gains included in income: Depreciation $2,800 Gain on sale of land (800) Decrease in accounts receivable 400 Decrease in inventory 500 Increase in accounts payable 800 Increase in wages payable 50 Decrease in taxes payable (1,000) 2,750 Net cash flow from operatin

7、g activities 3,250 Cash flows from investing activities: Land was sold for 1,800 Equipment was purchased for (3,500) Net cash used for investing activities (1,700) Cash flows from financing activities: Dividends declared and paid (4,350) Common stock was sold for 3,800 Net cash used for financing ac

8、tivities (550) Net increase in cash and marketable securities $ 1,000b. Net cash flow from operating activities was substantially more than the net income. Cash dividends were greater than the net cash flow from operating activities.The cash from issuing the common stock was sufficient to cover the

9、net cash used for investing activities, increase the cash and marketable securities accounts, and partially cover the large cash dividend.The fact that a long-term source of funds (common stock) was used to cover part of the cash dividends is a negative observation. The large cash dividend in relati

10、on to net cash flow from operating activities would also be considered a negative situation.PROBLEM 10-4Frish Companya. Schedule of Change From Accrual ToCash Basis Income StatementAccrual Basis Adjustments Add(Subtract) Cash BasisNet sales $640,000 Increase in accounts receivable ($27,000) $613,000

11、Less expenses:Cost of goods sold 360,000 Increase in accounts payable (15,000) Increase in inven- tories 35,000 Depreciation expense (15,000) 365,000Selling and administrative expense 43,000 Decrease in prepaid expenses (1,000) Increase in accrued liabilities (3,000) Depreciation expense (5,000) 34,

12、000Other expense 2,000 Amortization of goodwill (3,000) Amortization of bond premium 1,000 -0- Income before _ income taxes 235,000 214,000Income tax 92,000 Decrease in income taxes payable 10,000 102,000Net income $143,000 $112,000b. (1) Direct Approach Receipts from customers $613,000 Payments to

13、suppliers (365,000) Selling and administrative expenses ( 34,000) Income taxes paid (102,000) Cash flows from operating activities $112,000 (2) Indirect Approach Net income $143,000 Add (deduct) items not affecting cash Depreciation 20,000 Amortization of goodwill 3,000 Amortization of bond premium

14、(1,000) Increase in accounts receivable (27,000) Increase in accounts payable 15,000 Increase in inventories (35,000) Decrease in prepaid expenses 1,000 Increase in accrued liabilities 3,000 Decrease in income taxes payable (10,000) Cash flow from operating activities $ 112,00PROBLEM 10-5a. The inco

15、me statement and other selected data for the Boyer Company is shown below.Boyer CompanySchedule of Change From Accrual ToCash Basis Income StatementAccrual BasisAdjustmentsAdd(Subtract)CashBasisSales$19,000Increase in receivables (400)$18,600Less operating expenses: Depreciation2,300Depreciation exp

16、ense(2,300)-0-Other operating expenses12,000Increase in inventoriesIncrease in accounts payable 800 (500)12,300Operating income4,7006,300Loss on sale of land1,500Loss on sale of land(1,500)_-0-Income before tax expense3,2006,300Tax expense1,000Decrease in income taxes payable 400 1,400Net income$2,2

17、00$4,900b. (1) Direct Approach Receipts from customers $18,600 Payments to suppliers (12,300) Income taxes paid (1,400) Cash flow from operating activities $ 4,900 (2) Indirect Approach Net income $ 2,200 Add (deduct) items not affecting cash: Depreciation $2,300 Increase in receivables (400) Increa

18、se in inventories (800) Increase in accounts payable 500 Loss on sale of land 1,500 Decrease in income taxes payable (400) 2,700 Cash flow from operating activities $ 4,900 PROBLEM 10-6a. Sampson CompanyStatement of Cash FlowsFor the Year Ended December 31, 2005 Net cash flow from operating activiti

19、es: Net income $19,000 Noncash expenses, revenues, losses, and gains included in income: Depreciation expense $10,000 Increase in net receivables ( 7,000) Increase in inventory (13,000) Increase in accounts payable 5,000 Decrease in accrued liabilities (17,000) Net cash outflow from operating activi

20、ties (3,000) Cash flows from investing activities: Plant assets increase (15,000) Cash flows from financing activities: Mortgage payable increase $11,000 Common stock increase 6,000 Dividends paid (21,000) Net cash flows from financing activities $( 4,000) Net decrease in cash $(22,000)b. Sampson Co

21、mpanyStatement of Cash FlowsFor the Year Ended December 31, 2005 Cash flow from customers $138,000 ($145,000 - $7,000) Cash payments to suppliers (123,000) ($108,000 - $10,000 + $13,000 - $5,000 + $17,000) Cash outflow for other expenses (6,000) Tax payments (12,000) Net cash outflow from operating

22、activities ($ 3,000) Cash flows from investing activities: Plant assets increase (15,000) Cash flows from financing activities: Mortgage payable increase $11,000 Common stock increase 6,000 Dividends paid (21,000) Net cash outflow from financing activities (4,000) Net decrease in cash $(22,000)c. Al

23、l major segments of cash flows were negative. Net cash outflow from operating activities was negative by $3,000, and yet dividends were paid in the amount of $21,000. Also, the company had a negative cash flow from investing activities. These negative cash flows were partially made up for by issuing

24、 a mortgage payable ($11,000) and common stock ($6,000).PROBLEM 10-7a. CommentThe usual guideline for the current ratio is two to one. Arrowbell Company had a 1.14 to 1 ratio in 2004 and a .85 to 1 ratio in 2005. The usual guideline for the acid-test ratio is one to one. Arrowbell Company had a .68

25、to 1 ratio in 2004 and a .49 to 1 ratio in 2005.The cash ratio dropped from .19 in 2004 to .12 in 2005. The working capital in 2004 was $197,958, and in 2005 it had declined to a negative $319,988.The short-term debt position appears to be very poor.Computation of Ratios Current Ratio = Current Asse

26、ts Current Liabilities 2005 2004 $1,755,303 = .85 $1,599,193 = 1.14 $2,075,291 $1,401,235 Cash Equivalents & Net Receivables & Acid-Test Ratio = Marketable Securities_ Current Liabilities 2005 $250,480 + $760,950 = .49 $2,075,291 2004 $260,155 + $690,550 = .68 $1,401,235 Cash Ratio = Cash Equivalent

27、s & Marketable Securities Current Liabilities 2005 2004 $250,480 = .12 $260,155 = .19 $2,075,291 $1,401,235 Operating Cash Flow/Current Operating Cash Flow Maturities of Long-Term Debt = Current Maturities of Long-Term and Current Notes Payable Debt and Current Notes Payable 2005 2004 $429,491 = 46.

28、93% $177,658 = 32.29% $915,180 $550,155b. Suppliers will be concerned that Arrowbell Company will not be able to pay its creditors and, if payment is made, it will be later than the credit terms. The short-term creditors are financing the expansion program.c. The debt ratio has increased in 2005 to

29、.61 from .58 in 2004. The debt/equity ratio has increased in 2005 to 1.55 from 1.36 in 2004. (A similar increase in the debt to tangible net worth as the increase in the debt/equity ratio.) There was an improvement in the operating cash flow/total debt, but this ratio remains very low.This indicates that a substantial amount of funds are coming from creditors. In ge