CHECKLIST OF KEY FIGURES - Wiley



CHECKLIST OF KEY FIGURES

For Exercises and Problems in

Kimmel, Weygandt, Kieso

Financial Accounting: Tools for Business Decision Making, Seventh Edition

Chapter 1

Exer.

No.

1-4 Net income $13,400.

1-5 Net income $12,901.3.

1-6 Ending retained earnings $290,000.

1-8 (b) Net income $34,286.

1-9 Common stock $30,000; Cost of goods sold $55,000.

1-10 (b) Ending retained earnings $27,000; total assets $128,000.

1-11 (b) Net income $1,208.

1-12 (a) Net increase in cash $18,000.

1-13 (a) Net increase in cash $823.

1-14 Total assets $79,500.

1-15 (b) Total assets $13,249.6; total liabilities $4,556.5.

1-16 (c) Dividends $30,000.

(f) Total revenues $140,000.

P1-3A Net income $3,800, Retained earnings $2,400, Total assets, $37,000

P1-4A Net cash provided by operating activities $28,000

P1-5A (b) Total assets $85,000

P1-3B Net income $4,200, Retained earnings $2,600, Total assets $78,000

P1-4B Net cash provided by operating activities $8,000

P1-5B (b) Net income $30,000

BYP 1-1 (e) Decrease in net income $9,125,000

BYP 1-2 Hershey’s net income $628,962; Tootsie Roll’s net income $43,938

BYP 1-7 Total assets $34,000

Chapter 2

Exer.

No.

2-3 Total current assets $34,309.

2-4 Total current assets $2,908,320.

2-5 Total assets $212,720.

2-6 Total assets $12,119.

2-7 (a) 2014 earnings per share $1.01.

2-8 (a) Net loss $(2,500).

(b) Total assets $51,480.

2-9 (a) Ending current ratio 2.01:1.

2-10 (b) Current ratio 2.0:1.

2-11 (b) 2014 Free cash flow ($45,536).

P2-1A Total assets $13,690

P2-2A Net income $21,400, Retained earnings $40,400, Total assets $73,700

P2-3A Net income $2,230, Retained earnings $3,505

Total assets $9,157

P2-4A (a) Earnings per share, Bosch $3.10, (c) Free cash flow: Fielder $1,000

P2-5A (ii) Current ratio 2.35:1 (iii) Free cash flow $67,800

P2-6A (b) 2014 Working capital $113,000 (e) 2014 Free cash flow $17,000

P2-7A (b) Current ratio: Target 1.66:1 Wal-Mart .88:1

(d) Free cash flow: Target $418 Wal-Mart $7,902

P2-1B Total assets $5,344

P2-2B Net income $6,200, Retained earnings $17,600, Total assets $33,800

P2-3B Net income $9,700, Retained earnings $20,860, Total assets $49,135

P2-4B (a) Earnings per share: Wise $.43 (c) Free cash flow: Omaz $26,000

P2-5B (i) Current ratio 2.0:1, (iv) Free cash flow $9,300

P2-6B (b) 2014 Working capital $116,000 (e) 2014 Free cash flow $60,000

P2-7B (b) Current ratio: Home Depot 1.2:1 Lowes .1.1:1

(d) Free cash flow: Home Depot $460 Lowes ($91)

BYP 2-1 (a) 2011 current assets $212,201,000

BYP 2-2 (a) Hershey Tootsie Roll

2. Current ratio 1.7:1 3.6:1

4. Free cash flow ($47,177) $15,632

BYP 2-4 (a) Percentage decrease in total assets 17.3%

Chapter 3

Exer.

No.

3-2 Ending cash $15,000

3-3 Ending cash $56,800

3-4 (b) Stockholders’ equity increase $23,400.

(c) Net income $5,400.

3-5 Net income $5,400; Total assets $26,200.

3-10 (b) Totals $44,040.

3-11 (a) Total assets $38,300.

3-12 (b) Totals $21,700.

3-13 (b) Totals $18,100.

3-14 (b) Totals $21,200.

3-16 (a) Totals $98,370.

(b) Net income $5,214; Total assets $87,384.

P3-1A (a) Ending cash balance: $34,800; (b) Net income $9,100

P3-2A (a) Ending cash balance: $18,270; (b) Net income $2,170

P3-3A (a) Ending cash balance: $7,150; (b) Net income $2,570

P3-5A (b) Ending balances: Cash $18,800, Accounts Payable $1,000

c) Trial balance totals $24,400

P3-6A (c) Ending balances: Cash $17,300

d) Trial balance totals $35,700

P3-7A Trial balance totals $16,900

P3-8A (c) Ending balances: Cash $32,750, Accounts Payable $9,100

(d) Trial balance totals $128,800

P3-1B (a) Ending cash balance: $26,360; (b) Net income $7,410

P3-2B (a) Ending cash balance: $17,430; (b) Net income $2,770

P3-3B (a) Ending cash balance: $10,250; (b) Net income $8,130

P3-5B (b) Ending balances: Cash $103,200, Accounts Payable $400

(c) Trial balance totals $110,400

P3-6B (c) Ending balances: Cash $20,464, Accounts Payable $11,710

d) Trial balance totals $63,540

P3-7B Trial balance totals $25,220

P3-8B (c) Ending balances: Cash $6,660 Accounts Payable $1,850

(d) Trial balance totals $86,890

CCC3 (c) Trial Balance totals $3,910

BYP 3-6 (c) Correct net income $5,900

Chapter 4

Exer.

No.

4-4 Accrual basis earnings $34,180.

4-5 (a) Cash basis income $7,600.

4-6 (a) Net income $16,125.

(b) Total assets $36,545.

4-12 Net income $2,040.

4-13 (a) $1,350; (c) $1,760.

4-17 Net income $14,100; Total assets $34,500.

P4-1A (b) Cash received $199,000

P4-2A (b) Ending balances: Prepaid Insurance $2,640, Salaries and Wages Expense $5,250

c) Adjusted trial balance totals $45,310

P4-3A (b) Ending balances: Prepaid Insurance $1,350, Salaries and Wages Expense $900

(c) Adjusted trial balance totals $114,630; (d) Net income $3,570, Total assets $106,150

P4-4A (b) Net income $2,510, Retained earnings $1,910, Total assets $23,430

P4-6A (b) Net income $33,285

P4-7A (e) Ending balances: Cash $3,840, Salaries and Wages Expense $480

(f) Adjusted trial balance totals $24,680; (g) Net Income $970, Total assets $19,800

P4-8A (e) Ending balances: Cash $5,410, Retained Earnings $3,700

(f) Adjusted trial balance totals $25,880 (g) Net income $4,300, Total assets $21,500

P4-1B (b) Cash received $199,000

P4-2B (b) Ending balances: Prepaid Insurance $3,500, Salaries and Wages Expense $4,480

c) Adjusted trial balance totals $36,580

P4-3B (b) Ending balances: Prepaid Insurance 3,900, Salaries and Wages Expense $53,600

(c) Adjusted trial balance totals $318,750; (d) Net income 10,850, Total assets $236,350

P4-4B (b) Net income $38,810, Retained earnings $34,310, Total assets $68,790

P4-6B (b) Net income $28,190

P4-7B (e) Ending balances: Cash $2,420, Salaries and Wages Expense $6,140

(f) Adjusted trial balance totals $27,990; (g) Net loss ($1,040), Total assets $19,300

P4-8B (e) Ending balances: Cash $6,200, Retained Earnings $1,650

(f) Adjusted trial balance totals $29,430 (g) Net income $2,550, Total assets $22,730

CCC4 (e) Adjusted trial balance totals $8,804

BYP 4-6 (a) Net income $16,790

BYP 4-9 Total assets $15,350

Chapter 5

Exer.

No.

5-1 (a) (5) Cash paid $23,912.

5-3 (a) (3) Cash received $ 470,250.

5-4 (a) Cash paid (June 19) $8,148.

5-5 Net sales $864,500.

5-6 (a) Net income $14,250.

5-7 (b) Profit margin -Yanik 14%;

Gross profit rate- Nunez 40%.

5-8 (a) Net income $63,500.

5-9 (a) Net income $535.

5-10 Cost of goods sold $154,700.

5-11 (b) $1,550, (d) $40, (f) $120,

(h) $640, (j) $5,000, (l) $44,530.

5-13 (a) (5) Cash paid $22,932.

P5-1A (b) Ending balances: Cash $3,496, Inventory $5,952

c) Gross profit $2,828

P5-3A (b) Ending balances: Cash $1,587, Inventory $4,263

c) Trial balance totals $8,150; (d) Gross profit $700

P5-4A (a) Net income $32,900, Retained earnings $35,100, Total assets $146,400

P5-5A Net income $67,500

P5-6A (b) Ending balances: Accumulated Depreciation- Equipment $47,500

c) Adjusted trial balance totals $1,365,500

d) Net income $81,100, Retained earnings $138,300, Total assets $399,000

P5-7A Gross profit $272,600

P5-8A (g) Purchases $32,960; (h) Cash payments $34,860

P5-9A (b) Ending balances: Cash $1,587; Accounts Receivable $850,

(c) Trial balance totals $8,427; (d) Gross profit $700

P5-1B (b) Ending balances: Cash $3,596, Inventory $8,544

c) Gross profit $6,320

P5-3B (b) Ending balances: Cash $2,086, Inventory $3,244

c) Trial balance totals $6,610; (d) Gross profit $460

P5-4B (a) Net income $28,300, Retained earnings $32,500, Total assets $313,800

P5-5B Net income $145,000

P5-6B (b) Ending balances: Accumulated Depreciation- Equipment $61,000

c) Adjusted trial balance totals $1,015,400

d) Net income $15,200, Retained earnings $33,200, Total assets $200,400

P5-7B Gross profit $257,000

P5-8B (b) Gross profit-2013, $78,100; 2015-$78,600

P5-9B (b) Ending balances: Cash $2,994; Accounts Receivable $280

(c) Trial balance totals $10,759; (d) Gross profit $470

CP (b) Ending balances: Cash $12,820, Inventory $8,720

(d) Adjusted trial balance totals $65,500

(e) Net income $540, Total assets $45,340

BYP 5-1 (a) 2010 to 2011 sales increased 2.1%

c) 2011 gross profit rate 30.9%

BYP 5-2 (a) Tootsie Roll Hershey

(1) Profit margin 8.3% 10.3%

3) Gross profit rate 30.9% 41.6%

BYP 5-4 (a) Gross profit rate: Carrefour 22.5%, Wal-Mart 22.5%

(b) Profit margin: Carrefour 2.5%, Wal-Mart 3.5%

BYP 5-6 (a) (1) Net income $62,000 (c) Net income $93,440

Chapter 6

Exer.

No.

6-1 Correct inventory $309,000.

6-2 Correct inventory $558,000.

6-4 Cost of goods sold: FIFO $10,515; LIFO $10,596.

6-5 (a) $729; (b) $767;(c) $746.36.

6-7 (a) Cost of goods sold: FIFO $2,640; LIFO $2,960; Average $2,813.

6-8 (a) LIFO Net income $14,700; (b) FIFO Net cash provided $28,000.

6-9 Total LCM $4,373.

6-10 2013: Inventory turnover 8.5; Gross profit rate 52.9%.

6-11 (a) Inventory turnover 5.98.

(b) Adjusted current ratio 2.53:1.

6-12 (a) Ending inventory: FIFO $1,580; LIFO $1,450; Moving average $1,528.

6-13 (a) FIFO $2,620; LIFO $2,596; Average $2,607.

6-14 2014 Cost of goods sold $161,000.

6-15 (a) 2014 Gross profit $71,000.

P6-2A (a) Cost of goods available for sale $137,000

b) Ending inventory: FIFO $32,000, LIFO $21,500, Average cost $27,399

P6-3A (a) Cost of goods available for sale $16,800

(b) Ending inventory; FIFO $2,300, LIFO $1,700, Average cost $1,976

P6-4A Net income FIFO $183,456, LIFO $172,008

P6-5A Gross profit: LIFO $2,970, FIFO $3,310, Average cost $3,133

P6-6A (a) (1) Gross profit $162,500 (b) Cost of goods sold: FIFO $199,000, LIFO $206,150

P6-7A (a) Inventory turnover 11.5, (c) Current ratio .86:1

P6-8A (a) Ending Inventory: LIFO $1,500, FIFO $1,875, Moving average $1,773

P6-9A Ending inventory: FIFO $213, Moving average $207, LIFO $195

P6-2B (a) Cost of goods available for sale $77,100

b) Ending inventory: FIFO $35,000 LIFO $20,600 Average cost $28,625

P6-3B (a) Cost of goods available for sale $18,900

(b) Ending inventory: FIFO $4,400, LIFO $2,950, Average cost $3,619

P6-4B Net income FIFO $189,735, LIFO $185,885

P6-5B Gross profit: LIFO $2,250, FIFO $2,570, Average cost $2,420

P6-6B (b) Gross profit: FIFO $174,000, LIFO $167,400

P6-7B (a) Inventory turnover 13.0 (c) Current ratio 1.10:1

P6-8B (a) Ending inventory: LIFO $1,625, FIFO $2,255, Moving average $2,017

P6-9B (a) Ending inventory: FIFO $1,428, Moving average $1,381, LIFO $1,318

CP (b) Ending balances: Inventory $2,342, Cost of Goods Sold $4,098

(c) Adjusted trial balance totals $41,055

(d) Net income $767, Total assets $34,262

(e) Ending inventory: FIFO $2,336, LIFO $1,800

BYP 6-1 (b) Percentage increase in inventories 26.7%

BYP 6-2 (a) Tootsie Roll days in inventory: 64.0 days

BYP 6-4 (c) 2014 Days in inventory: 93.6

BYP 6-6 (a) Inventory turnover–2014: 7.5, Days in inventory–2013: 45.1

Chapter 7

Exer.

No.

7-6 (a) Adj. cash bal. $3,497.20.

7-7 Total $1,560.

7-8 (a) Adj. cash bal. $9,342.

7-9 (a) Adj. cash bal. $18,855.

7-10 (a) $1,880; (b) $2,040.

(c) $1,700; (d) $2,600.

7-11 (c)Adj. cash bal. $18,740.

7-12 (a) Total $17,620.

7-14 End. cash bal. Jan. $24,000.

7-15 Cash over and short $1.30.

7-16 Cash over and short $3.40.

P7-3A (a) Adjusted cash balance $7,024

P7-4A (a) Adjusted cash balance $13,176.80

P7-5A (a) Adjusted cash balance $8,931.90

P7-6A Borrowings $1,800

P7-7A January expected collections from customers $326,000,

January expected payments for purchases $110,000,

January: total receipts $341,000, total disbursements $344,000

P7-8A (a) Adjusted cash balance $21,018.72

P7-3B (a) Adjusted cash balance $6,163

P7-4B (a) Adjusted cash balance $7,141

P7-5B (a) Adjusted cash balance $5,330

P7-6B Repayments $600

P7-7B January expected collections from customers $279,500,

January expected payments for purchases $106,000,

January: total receipts $287,000, total disbursements $299,000

P7-8B (a) Adjusted cash balance $5,681.00

CP (b) Ending balances: Cash $27,420, Accounts Receivable $1,880

(f) Adjusted trial balance totals $89,925

(g) Net income $2,455, Total assets $73,180

BYP 7-2 (b) Cash as % of total assets – 2011: Tootsie Roll 9.2%

Chapter 8

Exer.

No.

8-1 Sales discounts $92.

8-2 Interest revenue $6.

8-3 (e) Accounts Receivable $229,700.

8-4 (b) $6,700; (c) $6,740.

8-5 (b) $6,575.

8-6 Bad debt exp. $9,500.

8-7 Interest revenue $761.

8-8 Interest revenue 2014 $100.

8-9 Net receivables $4,400.

8-11 (a) Accounts receivable turnover 9.2.

8-13 Service charge expense $28,400.

8-15 Service charge expense $152.

8-16 Service charge expense $10.

8-17 Collections $227,000.

P8-1A (a) Total estimated bad debts $10,120

P8-2A (b) Balance in Accounts Receivable $809,000

P8-3A (a) Bad Debt Expense $34,400

P8-4A (c) Bad Debt Expense $34,600

P8-5A (b) Bad Debt Expense $11,700

P8-8A (c) Total receivables $14,550

P8-9A (a) Nike: Average collection period 53.7 days

P8-1B (a) Total estimated bad debts $25,190

P8-2B (b) Balance in Accounts Receivable $1,218,000

P8-3B (c) Bad Debt Expense $33,400

P8-4B (c) Bad Debt Expense $22,000

P8-5B (b) Bad Debt Expense $10,100

P8-8B (c) Total receivables $14,449

P8-9B (a) Redbird: Average collection period 89.0 days

CP (b) Adjusted trial balance totals $70,447

(c) Net income $2,011, Total assets $45,253

BYP8-1 Accounts receivable turnover ratio: 13.3, average collection period, 27.4 days

BYP 8-2 (a) (2) Hershey average collection period 27.4 days

BYP 8-4 (a) Accounts receivable turnover 11.7

BYP 8-6 (a) 2014: Total expenses as a percentage of net credit sales 3.8%

2014: Net expenses as a percentage of net sales 4.3%

Chapter 9

Exer.

No.

9-3 (a) $93,600.

9-5 2014 depreciation $2,562.50.

9-6 (a) Building $13,375; Warehouse $6,227.

9-7 (b) $11,000 gain.

(c) $6,000 loss.

9-8 June 30 loss $1,000.

9-10 (a) 1.42.

9-11 (a) Return on assets-with 8%.

9-12 (a) Return on assets 6.2%.

9-13 Amort. Exp.-Patent $11,250.

9-14 Amort. Exp.-Patent $56,000;

Amort. Exp.-Franchise $30,000.

9-17 Net income (15-year) $102,000.

9-18 (a) $.575 per mile.

(b) 2015 depr. expense $29,900.

9-19 (a) 2015 depreciation $21,093.75.

(b) Depreciation $4,563.

P9-1A Land $302,170

P9-2A (a) May 1 Gain on disposal $10,000; (c) Total plant assets $50,037,500

P9-3A June 30 Gain on disposal $3,000

P9-4A (c) Total intangible assets $315,300

P9-6A (a) Danner (1) Return on assets 7.5%, (3) Asset turnover ratio .36 times

P9-7A (a) Machine 2 2013 $17,000; (b) 2013 $25,500

P9-8A (a) Straight-line depreciation expense $55,000 (all years)

2015 double-declining-balance depreciation $62,500

P9-1B Land $302,000

P9-2B (a) May 1 Gain on disposal $17,000; (c) Total plant assets $61,072,000

P9-3B March 31 Gain on disposal $1,750

P9-4B (c) Total intangible assets $260,850

P9-6B (a) Quiver (1) Return on assets 26.7%, (3) Asset turnover ratio .80 times

P9-7B (a) Machine 2 2013 $24,000; (b) 2013 $5,333

P9-8B (a) Straight-line depreciation expense $72,000 (all years)

2015 double-declining-balance depreciation $91,200

CP (a) 2. Gain on disposal $1,125

(b) Trial balance totals $1,205,775

(c) Net income $51,150, Total assets $247,850

BYP9-2 (a) Hershey (1) Return on assets 14.5%, (3) Asset turnover ratio 1.40

BYP 9-4 2011 Return on assets 7.1%

BYP 9-6 (a) Return on assets–proposed without .135

Asset turnover–proposed with .50

BYP 9-8 (c) Income before income taxes increase $155,000

Chapter 10

Exer.

No.

10-1 (c) $700.

10-2 (a) $18,000.

10-3 (d) $2,400.

10-4 Sales taxes pay.-Crystal $780.

10-5 (a) Salaries and wages payable $48,104.

10-6 (b) 11 games.

10-7 (b) $14,700.

(c) $44,100.

10-8 (b) Interest expense $17,500.

10-9 (b) Interest expense $24,000.

10-10 (b) $610,800.

10-11 (b) $488,000.

10-13 (b) Interest expense $28,000.

10-14 (a) Loss $14,900.

(b) Gain $17,400.

10-15 (b) Total long-term liab. $10,158.7.

10-16 (a) 2. 1.14:1; 4. 14.71.

10-17 (b) 2.28.

10-18 (b) 1.58:1.

10-20 (b) Interest expense $29,500.

10-21 (b) Interest expense $24,800.

10-22 (b) Interest expense $28,858.

10-23 (b) Interest expense $24,478.

10-24 First install. interest $8,400;

Second install. interest $8,223.

10-25 Reduction of principal $3,137.

P10-1A (c) Total current liabilities $146,724

P10-2A (b) Balance in Notes Payable $42,500; (d) Total interest expense $770

P10-5A (b) Long-term liabilities $5,888,000

P10-6A (a) 2014 Free cash flow ($2,457); 2014 times interest earned 3.14

P10-7A (c) Loss on bond redemption $11,600

P10-8A (c) Premium case: Total long-term liabilities $2,032,000

P10-9A (d) (1) Long-term liabilities $3,081,000

P10-10A (b) Bond carrying value $1,699,516

P10-11A (b) Bond carrying value $2,124,196

P10-12A (c) Total liabilities $296,141

P10-13A (a) June 30, 2017 Balance 34,188

P10-1B (c) Total current liabilities $133,901

P10-2B (b) Balance in Notes Payable $55,000; (d) Total interest expense $1,336

P10-5B (b) Long-term liabilities $5,135,000

P10-6B (a) 2014 Free cash flow $556; 2014 Debt to assets 78%

P10-7B (c) Gain on bond redemption $90,000

P10-8B (c) Premium case: Total long-term liabilities $2,235,200

P10-9B (d) (1) Long-term liabilities $3,078,750

P10-10B (b) Bond carrying value $2,115,727

P10-11B (b) Bond carrying value $1,699,357

P10-12B (c) Total liabilities $326,008

P10-13B (a) June 30, 2017 Balance $32,466

CP (b) Trial balance totals $687,695

(c) Net income $72,905, Total assets $271,600

BYP10-2 (a) Tootsie Roll: Current ratio 3.64:1

(b) Tootsie Roll: Debt to assets 22.4%

BYP10-4 (a) Home Depot working capital $2,076 (in millions), Current ratio 1.73:1

(b) Debt to assets 35%, Times interest earned 72.7 times

BYP10-5 (a) Borders current ratio 1.07:1

(b) Barnes debt to assets 76%

BYP10-7 (a) 1. Gain on redemption $446,000

BYP10-11 Total tax $24,454

Chapter 11

Exer.

No.

11-1 (b) Total paid-in cap. in excess of stated value $480,000.

11-3 (b) Paid-in capital in excess of par value $400,000.

11-4 (a) 574,000; (c) $100; (e) $1,158,000.

11-6 (b) Dividends declared $220,300.

11-7 Outstanding shares: after stock div. 85,050; After stock split 162,000.

11-8 Total stock. equity $109,219.

11-9 Total stock. equity $4,557,000.

11-10 Total stock. equity $3,030,000.

11-11 2014 payout ratio 59.1%.

11-12 2014 payout ratio 23.5%.

11-13 (a) 2014 return 17.4%..

11-14 (a) Earnings per share $4.00.

11-15 (a) 2014 $4.20

11-16 (b) Stock Dividends dr. $324,000.

P11-1A (b) Preferred Stock $750,000, Paid-in Capital in Excess of Par Value - Preferred Stock $54,000; (c) Total paid-in capital $1,829,000

P11-2A (b) Common Stock $1,020,000, Paid-in Capital in Excess of Stated Value - Common Stock $490,000; (c) Total stockholders’ equity $2,600,500

P11-3A Total stockholders’ equity $23,153,000

P11-4A (a) Retained Earnings balance $2,860,000

(b) Total stockholders’ equity $7,160,000

P11-5A (b) Total paid-in capital $3,690,000, Total stockholders’ equity $3,736,000

P11-6A Total stockholders’ equity $3,317,000

P11-7A 2014 Return on assets 14.3%, 2014 Payout ratio 39.7%, 2014 Times interest earned 6.8

P11-8A (c) Total paid-in capital $1,298,000, Total stockholders’ equity $2,138,800; (d) Payout ratio 20.3%, Return on common stockholders’ equity 20.2%

P11-1B (b) Preferred Stock $900,000, Paid-in Capital in Excess of Par Value - Preferred Stock $22,000; (c) Total paid-in capital $1,470,000

P11-2B (b) Common Stock $1,020,000, Paid-in Capital in Excess of Stated Value – Common Stock $1,540,000; (c) Total stockholders’ equity $4,543,600

P11-3B Total stockholders’ equity $21,260,000

P11-4B (a) Retained Earnings balance $720,000; (b) Total stockholders’ equity $5,290,000

P11-5B Total paid-in capital $9,452,000, Total stockholders’ equity $12,402,000

P11-6B Total stockholders’ equity $7,181,000

P11-7B (a) 2014 Return on assets 15.1%, 2014 Payout ratio 33.8%, 2014 Times interest earned

9.1

P11-8B (c) Total paid-in capital $2,140,000, Total stockholders equity $2,918,000; (d) Payout ratio 34.4%, Return on common stockholders’ equity 18.2%

CP (b) Adjusted trial balance totals $740,690

c) Net income $81,970, Total assets $421,000

BYP 11-1 (d) Return on common stockholders’ equity 6.6%

BYP 11-2 Hershey: Return on common stockholders’ equity 69.5%

BYP 11-5 (b) Host Marriott: Debt to assets ratio 81.4%

(c) Host Marriott: Return on assets (.7%)

BYP 11-7 (a) Return on assets 9.6%; (b) Payout ratio 13.8%; (c) Times interest earned 11.2 times

Chapter 12

Exer.

No.

12-4 Net cash provided $228,000.

12-5 Net cash provided $191,000.

12-6 Net cash provided $427,900.

12-7 Net cash provided $108,000.

12-8 (a) Net cash provided $133,000.

12-9 (a) PepsiCo. .77 times.

(b) Coca-Cola .38 times.

12-10 (a) Patton 1.6 times.

(b) Sager 0.40 times.

12-11 Net cash provided $78,000.

12-12 (a) $5,157.1; (b) $9,351.9.

12-13 Net cash provided $61,000.

12-14 Net cash provided $88,600.

12-15 Rent $31,500; Receipts from customers $169,000.

P12-2A (a) Net income $58,800

P12-3A Net cash provided by operating activities $1,940,000

P12-4A Net cash provided by operating activities $1,940,000

P12-5A Net cash provided by operating activities $305,000

P12-6A Net cash provided by operating activities $305,000

P12-7A Net cash provided by operating activities $38,500, Net cash used by financing

activities ($32,000)

P12-8A Net cash provided by operating activities $38,500, Net cash used by financing

activities ($32,000)

P12-9A Net cash provided by operating activities $176,930, Net cash used by financing

activities ($17,030)

P12-10A Net cash provided by operating activities $176,930, Net cash used by financing activities ($17,030)

P12-11A Net cash provided by operating activities $94,000, Net cash used by investing

activities ($12,000)

P12-2B (a) Cash proceeds $5,000

P12-3B Net cash provided by operating activities $1,548,000

P12-4B Net cash provided by operating activities $1,548,000

P12-5B Net cash provided by operating activities $254,000

P12-6B Net cash provided by operating activities $254,000

P12-7B Net cash provided by operating activities $8,000, Net cash used by financing

activities ($18,000)

P12-8B Net cash provided by operating activities $8,000, Net cash used by financing

activities ($18,000)

P12-9B Net cash provided by operating activities $179,000, Net cash used by financing

activities ($55,000)

P12-10B Net cash provided by operating activities $179,000, Net cash used by financing activities ($55,000)

P12-11B Net cash provided by operating activities $75,000, Net cash used by investing activities ($45,000)

BYP 12-2 (a) Hershey: 1. Current cash debt coverage .47, 2. Cash debt coverage .17

BYP 12-5 (a) Current ratio 1.31, Current cash debt coverage (.13)

BYP 12-7 (b) Net cash provided by operating activities $15,000

Chapter 13

Exer.

No.

13-1 Net income $289,000.

13-2 (e) 75,514,706.

13-3 Total assets increase 15.0%.

13-4 Net income: 2013, 8.0%; 2014, 8.8%.

13-5 (a) Total assets increase 6.5%.

(b) Current assets 73.5%.

13-6 (a) Net income increase 13.9%.

(b) Net income-2014 6.8%.

13-7 Current cash debt .69; Accounts receivable turnover 4.2; Inventory turnover 5.9.

13-8 Feb. 7, 2.43; Feb. 18, 2.66.

13-9 (b) 5.4; (d) 3.6; (f) .31.

13-10 (b) 1.64; (d) 7.6%.

13-11 (a) $1.86; (c) 22.2%.

13-12 (a) $722,000; (c) $111,595.

13-13 (b) 2014 2.28; (e) 2014 24.2%.

P13-1A (a) King Company: Income from operations as a percent of sales 32.1%, Net income as a percent of sales 26.3%

P13-2A (a) Earnings per share $3.69; (c) Return on assets 23.2%; (e) Accounts receivable turnover 17.1 times (i) Times interest earned 15.1 times

P13-3A (a) 2014 Profit margin 13.6%, Price-earnings ratio 2.8 times, Debt to assets 32%

P13-4A (a) 2014: Current ratio 1.76, Inventory turnover 3.2 times, Profit margin 5.9%, Earnings per share $2.60

P13-5A (a) Target: Current ratio 1.63:1, Asset turnover 1.5, Times interest earned 6.5

P13-1B (a) Gerald Company: Income from operations as a percent of sales 23.8%, Net income as a percent of sales 18.5%

P13-2B (a) Earnings per share $8.51; (c) Return on assets 16.7%; (e) Accounts receivable turnover 8.2 times; (i) Times interest earned 16.4 times

P13-3B (a) 2014 Profit margin 14.5%, Price-earnings ratio 0.94 times, Debt to assets 28%

P13-4B (a) 2014: Current ratio 2.03:1, Inventory turnover 1.86 times, Profit margin 12.4%, Earnings per share $1.30

P13-5B (a) Ritter: Current ratio 2.83:1, Asset turnover 1.7, Times interest earned 598.1

BYP 13-1 (a) 2011 (1) Net sales trend 107% of base year; (b) (1) 2011 debt to assets 22%

BYP 13-2 (a) Tootsie Roll: (1) Percentage increase in net sales 2.2%, (2) Percentage increase in total assets 0.0%

BYP13-5 (a) Coca-Cola: Current ratio 1.28:1, Accounts receivable turnover 9.1 times; (b) Times interest earned 26.0 times; (c) Return on assets 15.3%

Appendix D

Exer.

No.

D-1 (b) $14,366,88.

D-4 $981,075.42.

D-5 $37,800.33.

D-8 (b) $125,605.76.

D-11 $467,084.70.

D-13 Present value of interest $183,469.45.

D-15 Present value of interest $17,751.86.

D-16 Present value of bonds $2,459,105.

D-19 $105,169.42.

D-21 12 years.

D-23 8 payments.

Appendix E

Exer.

No.

E-1 (a) Gain on sale $2,000.

E-2 (a) Gain on sale $1,900.

E-3 Gain on sale $2,800.

E-4 (b) $225,000.

E-5 (a) Unrealized gain $72,000.

E-6 (a) Unrealized loss $4,800.

E-7 (a) Unrealized loss $4,800.

E-8 (a) Unrealized gain-income $12,000.

PE-1 (a) Gain on sale $30,000

PE-2 (a) Stock Investments balance $61,500

(c) Short-term investments, at fair value $54,000

PE-3 (a) Stock Investments balance $86,400

(c) Investments in stock of less than 20% owned companies, at fair value $89,700

PE-4 (c) Revenue from stock investments under equity method $240,000

PE-5 (d) Investments in stock of less than 20% owned companies, at fair value $155,000

PE-6 Total current assets $461,000, Total assets $2,644,000

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