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Questions to CFE Exercise

Questions to CFE Exercise

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Published by Seong-uk Kim

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Categories:Types, Business/Law
Published by: Seong-uk Kim on Jun 19, 2012
Copyright:Attribution Non-commercial

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06/19/2012

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Dec. 31, 2009
(1) & (2)(3a)(3b)(4)(5a)(5b)(6)(7)(8)(9)(10a)Sales
10,000
Merchandise costs
6,000
Operating, general, and administrative
500
Rent
300
Depreciation and amortization
200
Loss on inventory writedownInterest Expense
1,000
Earnings before taxes
2,000
Tax expense
800
Net Earnings
1,200
AssetsCash and Temporary Investments
7,000
Receivables
3,000
Inventories
7,000
Prepaid and other current assets
5,000
Land
10,000
Buildings and Equipment (net)
8,000
Total Assets
40,000
Liabilities & EquityAccounts payable
1,000
Accrued income taxes
1,000
Other current liabilities
8,000
Dividends payableLong-term Debt
20,000
Common Stock
4,000
Treasury SharesRetained Earnings
6,000
Fair value revaluationTotal Liabilities and Shareowner's equ
40,000
 
Cash Flow Statement (in no particular order)Cash Flow from Operations:
Net incomeDepreciationLoss on inventory writedownchange in Receivablechange in Inventorieschange in prepaidschange in accounts payablechange in accrued income taxeschange in other current liabilitiesOther non cash expenseInterest paid
Cash Flow from Financing Activities:
New DebtStock BuybackPayment of principal
Cash Flow from Investing Activities:
purchase of equipment
Total change in Cash
 
(10b)Total
67,267'

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