FINANCIAL ACCOUNTING
6th Edition
ISBN: 9781618533111
Author: DYCKMAN
Publisher: Cambridge Business Publishers
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Question
Chapter 1, Problem 37P
a.
To determine
Prepare an income statement, balance sheet and statement of cash flows of company G for the fiscal year ended May 27, 2018.
b.
To determine
Calculate the portion of owners’ contribution to total assets.
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Below is a comparative statement of financial position for Egglestone Vibe Inc. as at December
31, 2021:
Egglestone Vibe Inc.
Statement of Financial Position
Cash
Accounts receivable
Inventory
Land
Plant assets
Assets:
Investments-available for sale (OC)
Additional Information:
Accumulated depreciation-plant assets
Goodwill(n)
Total assets
Liables and Equity:
Accounts payable
Dividend payable
Notes payable
Common shares
Retained earnings
Accumulated other comprehensive income
Total liabilities and equity
Required:
December 31
2021
2020
$ 84,500 $ 37,706
113,100 76,700
302,900 235,300
81,900 109,200
84,500 133,900
507,000 560,000
(152,100) (111,800)
161,200
224,900
1.183.000 1,265,900
$ 38,100 $ 66,300
19,500
41,600
416,000
565,500
322,500
162,500
374,400
370.200
12,500
59,800
$1,163,000 $1,265,000
i. Net income for the 2021 fiscal year was $24,700.
i. On March 1, 2021, land was purchased for expansion purposes. On July 12, 2021,
another section of land with a carrying value of $111,800…
As per the latest annual report, the following information is made available from
the financial statements of ABC Inc. for the year 2019.
Sales
COGS
EBIT
EBITDA
Interest Expense
Net Income
Total Debt
Total Assets.
Particulars
Net Fixed Assets
Total Equity
Current Assets
Current Liabilities
Cash & Cash Equivalents
Accounts Receivables
Inventories
Accounts Payable
Required:
Amount (in millions)
Current Ratio
Quick Ratio
Cash Ratio
Debt to Equity Ratio
Debt Ratio
Receivables Turnover Ratio
Inventory Turnover Ratio.
Gross Margin
Operating Profit Margin
Net Margin
£250,174
£151,782
£53,930
(a) You are required to calculate the following ratios:
£66,477
£3,576
£45,256
£98,047
£328,516
£27,378
£80,488
£152,819
£95,718
£38,844
£12,926
£4,106
£46,236
b) After calculating all 10 ratios, explain how the above results can aid ABC Inc's
decision making process.
Base on your review of the Mc Donald’s Corporation financial statement, draw at least 4 conclusions in terms of usage of its cash flow, financing, firm’s investment, the primary use of the firms’ cash flow during the year.
Chapter 1 Solutions
FINANCIAL ACCOUNTING
Ch. 1 - Prob. 1MCCh. 1 - Prob. 2MCCh. 1 - Prob. 3MCCh. 1 - Prob. 4MCCh. 1 - Prob. 5MCCh. 1 - Prob. 1QCh. 1 - Prob. 2QCh. 1 - Prob. 3QCh. 1 - Prob. 4QCh. 1 - Prob. 5Q
Ch. 1 - Prob. 6QCh. 1 - Prob. 7QCh. 1 - Prob. 8QCh. 1 - Prob. 9QCh. 1 - Prob. 10QCh. 1 - Prob. 11QCh. 1 - Prob. 12QCh. 1 - Prob. 13QCh. 1 - Prob. 14QCh. 1 - Prob. 15QCh. 1 - Prob. 16QCh. 1 - Prob. 17QCh. 1 - Prob. 18QCh. 1 - Prob. 19MECh. 1 - Prob. 20MECh. 1 - Prob. 21MECh. 1 - Prob. 24MECh. 1 - Prob. 25MECh. 1 - Prob. 26MECh. 1 - Prob. 27ECh. 1 - Prob. 28ECh. 1 - Prob. 29ECh. 1 - Prob. 30ECh. 1 - Prob. 31ECh. 1 - Prob. 32ECh. 1 - Prob. 33ECh. 1 - Prob. 34ECh. 1 - Prob. 35ECh. 1 - Prob. 36PCh. 1 - Prob. 37PCh. 1 - Prob. 38PCh. 1 - Prob. 39PCh. 1 - Prob. 40PCh. 1 - Prob. 41PCh. 1 - Prob. 42PCh. 1 - Prob. 43PCh. 1 - Prob. 44PCh. 1 - Prob. 45PCh. 1 - Prob. 46CPCh. 1 - Prob. 47CPCh. 1 - Prob. 48CPCh. 1 - Prob. 49CPCh. 1 - Prob. 50CP
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