FinAcctg7SMCh01Word文档格式.docx
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FinAcctg7SMCh01Word文档格式.docx
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Assetsandowners’equitydifferinthatassetsareresourcesandowners’equityisaclaimtoassets.
Assetsmustbeatleastaslargeasowners’equity,soequitycanbesmallerthanassets.
2.Bothliabilitiesandowners’equityareclaimstoassets.
Liabilitiesaretheoutsiderclaimstotheassetsofabusiness;
theyareobligationstopaycreditors.
Owners’equityrepresentstheinsiderclaimstotheassetsofthebusiness;
theyaretheowners’interestinitsassets.
(5-10min.)S1-6
AccountspayableL
g.
AccountsreceivableA
CommonstockE
h.
Long-termdebtL
SuppliesA
i.
MerchandiseinventoryA
d.
Retainedearnings
E
j.
NotespayableL
e.
LandA
k.
ExpensespayableL
f.
PrepaidexpensesA
l.
EquipmentA
(5min.)S1-7
1.Revenuesandexpenses
2.Netincome(ornetloss)
(5min.)S1-8
SplitSecondWireless,Inc.
IncomeStatement
YearEndedDecember31,2009
Millions
Revenues……………………………………..
$90
Expenses……………………………………..
20
Netincome…………………………………...
$70
(5min.)S1-9
NextelCorp.
StatementofRetainedEarnings
YearEndedDecember31,2008
Retainedearnings:
Balance,beginningofyear…………...
$200
Netincome($400−$300)…….……….
100
Less:
Dividends………………………...
(40)
Balance,endofyear…………………...
$260
(10min.)S1-10
WomackTravelServices
BalanceSheet
December31,2008
ASSETS
Currentassets:
Cash……………………………………………………
$13,000
Receivables…………………………………………...
2,000
Inventory………………………………………………
40,000
Totalcurrentassets…………………………………
55,000
Equipment……………………………………………….
85,000
Totalassets……………………………………………...
$140,000
LIABILITIES
Currentliabilities:
Accountspayable……………………………………
$10,000
Totalcurrentliabilities……………………………...
10,000
Long-termliabilities:
Long-termnotespayable…………………………..
80,000
STOCKHOLDERS’EQUITY
Commonstock………………………………………….
15,000
Retainedearnings………………………………………
35,000*
Totalstockholders’equity…………………………
50,000
Totalliabilitiesandstockholders’equity…………..
_____
*Computationofretainedearnings:
Totalassets($140,000)−currentliabilities($10,000)−long-termnotespayable($80,000)−commonstock($15,000)=$35,000
(10-15min.)S1-11
BrazosMedical,Inc.
StatementofCashFlows
YearEndedDecember31,2010
Cashflowsfromoperatingactivities:
Netincome………………………………………...
$80,000
Adjustmentstoreconcilenetincometonet
cashprovidedbyoperatingactivities….
(20,000)
Netcashprovidedbyoperatingactivities..
60,000
Cashflowsfrominvestingactivities:
Purchasesofequipment…………
$(40,000)
Netcashusedforinvestingactivities……..
(40,000)
Cashflowsfromfinancingactivities:
Paymentofdividends…………….
$(10,000)
Netcashusedforfinancingactivities…….
(10,000)
Netincreaseincash………………………………..
Cashbalance,December31,2009……………….
24,000
Cashbalance,December31,2010……………….
$34,000
(10min.)S1-12
a.DividendsSRE,SCF
b.SalaryexpenseIS
c.InventoryBS
d.SalesrevenueIS
e.RetainedearningsSRE,BS
f.NetcashprovidedbyoperatingactivitiesSCF
g.NetincomeIS,SRE,SCF
h.CashBS,SCF
i.NetcashusedforfinancingactivitiesSCF
j.AccountspayableBS
k.CommonstockBS
l.Interestrevenue
IS
m.Long-termdebtBS
n.IncreaseordecreaseincashSCF
Exercises
(10min.)E1-13
a.Corporation,Limited-liabilitypartnershipandLimited-liabilitycompany.Ifanyofthesebusinessesfailsandcannotpayitsliabilities,creditorscannotforcetheownerstopaythebusiness’sdebtsfromtheowners’personalassets.
b.Proprietorship.Thereisasingleownerofthebusiness,sotheownerisanswerabletonootherowner.
c.Partnership.Ifthepartnershipfailsandcannotpayitsliabilities,creditorscanforcethepartnerstopaythebusiness’sdebtsfromtheirpersonalassets.Apartnershipaffordsmoreprotectionforcreditorsthanaproprietorshipbecausetherearetwoormoreownerstosharethisliability.
(5-10min.)E1-14
a.Reliabilityprinciple
b.Stable-monetary-unitconcept
c.Entityconcept
d.Costprinciple
(10-15min.)E1-15
(Amountsinbillions;
computedamountsinboxes)
Assets
Liabilities
Owners’Equity
Apple
$17
$7
$10
PepsiCo
32
18
14
FedEx
23
11
12
AppleappearstohavethestrongestfinancialpositionbecauseApple’sliabilitiesmakeupthesmallestpercentageofcompanyassets($7/$17=.41).Stateddifferently,Apple’sequityisthehighestpercentageofcompanyassets($10/$17=.59).
(10-15min.)E1-16
Req.1
(Amountsinmillions)
$147
$154
206
148
58
Total
$411
$302
$109
Req.2
Resources
toworkwith
Req.3Amount
owedto
creditors
Req.4Actually
ownedbycompany
stockholders
(10-20min.)E1-17
Situation
1
2
3
Totalstockholders’equity,
January31,2008($30−$10)………….
$20
$20
Add:
Issuancesofstock………………..
1
-0-
Netincome………………………….
7*
10*
Less:
Dividends…………………………...
(2)
(1)
Netloss……………………………..
(2)*
January31,2009($40−$12)………….
$28
$28
*Mustsolvefortheseamounts.
(10-15min.)E1-18
1.
Peru,Inc.
Stockholders’
Equity
Beginningamount
$440,000
Multiplierforincrease
×
1.20
Endingamount
$528,000
2.
SocialNetworkingAssociates
−
$500,000
$200,000
Netincome
$400,000
(10-15min.)E1-19
a.Balancesheet
b.Balancesheet
c.Statementofretainedearnings,Statementofcashflows
d.Incomestatement
e.Balancesheet,Statementofretainedearnings
f.Balancesheet
g.Balancesheet
h.Incomestatement
i.Statementofcashflows
j.Incomestatement
k.Statementofcashflows
l.Balancesheet,Statementofcashflows
m.Balancesheet
n.Incomestatement,Statementofretainedearnings,Statementofcashflows
(10-20min.)E1-20
MaxwellBankingCompany
BalanceSheet(Amountsinmillions)
Cash
$28
Currentliabilities
$290
Receivables
253
Long-termliabilities
73
Investmentassets
72
Totalliabilities
363
Propertyand
equipment,net
4
STOCKHOLDERS’
EQUITY
Otherassets
43
Commonstock
12
Retainedearnings
25*
Totalstockholders’equity
37
Totalliabilitiesand
Totalassets
$400
stockholders’equity
Totalassets($400)−Totalliabilities($363)−Commonstock($12)=$25
(15-25min.)E1-21
IncomeStatement(Amountsinmillions)
Totalrevenue……………………………………….
$35
Expenses:
Interestexpense………………………………..
$3
Salaryandotheremployeeexpenses………
9
Otherexpenses…………………………………
14
Totalexpenses………………………………….
26
Netincome………………………………………….
$9
Thestatementofretainedearningshelpstocomputedividends,asfollows:
StatementofRetainedEarnings(Amountsinmillions)
Retainedearnings,beginningofyear…………………
$19
Netincomefortheyear(Req.1)…………………
9
28
Dividends…………………………………………...
(3)
Retainedearnings,endofyear(fromExercise1-20)….
$25
(15-20min.)E1-22
Groovy,Inc.
Netincome……………………………………..
Adjustmentstoreconcilenetincometo
netcashprovidedbyoperatingactivities..
60,000
Netcashprovidedbyoperatingactivities……..
$360,000
Netcashusedforinvestingactivities…………..
(400,000)
Netcashprovidedbyfinancingactivities……..
70,000
Netincre
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