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.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.Allac
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