Professional Documents
Culture Documents
Checklist of Key Figures
Checklist of Key Figures
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).
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.
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.
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.
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.
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.
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.
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.
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.
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.