Accounting/Excel Problems
BLR02
Chapter121314ProblemAssignments.xlsxCH 12
| Problem # 1 |
| Sales Forecasts: For the prior three years, sales for Nathional Beverage Company have been $21,962,000 (2015), $23,104,000 (2016), and $24,088,000 (2017). The Company uses the prior two years average growth rate to predict the coming year's sales. What were the sales growth rates for 2016 and 2017? What is the expected sales groth rate using a two-year average for 2018? What is the sales forecast for 2018? |
| Problem #2 |
| Sales Forecasts: For the prior three years, sales for California Cement Company have been $20,011,000 (2015), $21,167,000 (2016), $22,923,000 (2017). The company uses the prior two years' average growth rate to predict the coming year's sales. What were the sales growth rates for 2016 and 2017? What is the expected sales growth rate using a two-year average for 2018? What is the sales forecast for 2018? |
CH 13
| 2017 and 2018 Selected Balance Sheet Accounts of Rian Company | |||
| 12/31/18 | 12/31/17 | Change | |
| Accounts receivable | $ 38,000 | $ 46,000 | $ (8,000) |
| Inventory | $ 55,000 | $ 59,000 | $ (4,000) |
| Accounts payable | $ 27,000 | $ 25,000 | $ 2,000 |
| 2018 Selected Income Statement Items for Rian Company | |||
| Cash sales | $ 298,000 | ||
| Credit sales | $ 672,000 | ||
| Total sales | $ 970,000 | ||
| Cost of goods sold | $ 570,000 | ||
| Problem #3: Average production cycle. Find the average production cycle for Rian Company | |||
| Problem #4: Average production cycle. For the coming year, Rian Company wants to reduce its average production cycle to thirty days. If the target-ending inventory for 2019 is $61,000, what cost of goods sold will the company need to reach its goal? | |||
| Problem #5. Average collection cycle. What is the average collection cycle for Rian Company? | |||
| Problem #6. Average collection cycle. Rian Company had set a target of twenty days for the collection cycle for 2018. If total sales had remained a $970,000, how much of the sales revenue would have needed to be cash sales for the company to have met the collection goal? | |||
| Problem #7. Average accounts payable cycle. Calculate Rian Company's average accounts payable cycle. | |||
| Problem #8. Average accounts payable cycle. Rian Company had set a target of fifteen days for its payment (accounts payable) cycle. What would the ending balance in the accounts payable account have needed to be to rach this target (holding all other accounts the same)? | |||
CH 14
| Problem #1. Income statement. Fill in the missing numbers on the following annual income statements for Barron Pizza, Inc. | |||||||
| Barron Pizza, Inc. | |||||||
| Abbreviated Income Statements for the Years Ending 2015-2017 | |||||||
| ($ in thousands, except earnings per share) | |||||||
| Account | Year Ending 2017 | Year Ending 2016 | Year Ending 2015 | ||||
| Revenue | $ 917,378 | $ 946,219 | |||||
| Cost of goods sold | $ (669,382) | $ (656,215) | |||||
| Gross Profit | $ 169,441 | $ 315,017 | |||||
| Selling, general, and Admin Expenses | $ (70,505) | $ (193,000) | |||||
| Research & Development | $ (5,469) | $ (7,129) | $ (3,521) | ||||
| Depreciation | $ (34,579) | $ (35,713) | |||||
| Operating Income | $ 60,540 | $ 81,427 | |||||
| Other income | $ 672 | $ 1,958 | |||||
| EBIT | $ 82,553 | $ 84,741 | |||||
| Interest expense | $ (6,851) | $ (8,857) | |||||
| Income before tax | $ 74,876 | $ 75,884 | |||||
| Taxes | $ (20,385) | $ (28,079) | |||||
| Net Income | $ 46,797 | $ 47,245 | |||||
| Shares outstanding | $ 16,740,000 | $ 16,740,000 | |||||
| Earnings per share | $ 2.03 | $ 2.78 | |||||
| Problem #3. Fill in the missing information on the annual balance sheet statements for Barron Pizza, Inc. | |||||||
| Barron Pizza, Inc. | |||||||
| Balance Sheet as of December 31, 2015-2017 | |||||||
| ($ in thousands) | |||||||
| ASSETS | 2017 | 2016 | 2015 | LIABILITIES | 2017 | 2016 | 2015 |
| Current Assets | Current Liabilities | ||||||
| Cash | $ 7,071 | $ 9,499 | $ 17,609 | Accounts payable | $ 74,467 | $ 66,209 | |
| Accounts reveivable | $ 26,767 | $ 25,877 | Short-term debt | $ 250 | $ 225 | ||
| Inventory | $ 16,341 | $ 12,659 | Total Current Liabilites | $ 80,917 | $ 74,702 | ||
| Other Current | $ 11,590 | $ 10,955 | Long-term debt | $ 61,000 | $ 185,085 | ||
| Total current assets | $ 62,458 | $ 57,433 | $ 65,131 | Other liablities | $ 28,970 | $ 20,288 | |
| Long-term investments | $ 19,102 | $ 20,998 | Total Liabilities | $ 187,942 | $ 243,522 | ||
| Net plant, property, & Equip. | $ 203,818 | $ 223,599 | OWNER'S EQUITY | ||||
| Goodwill | $ 48,756 | $ 48,274 | Common Stock | $ 102,421 | $ 102,107 | ||
| Other assets | $ 13,259 | $ 13,817 | $ 14,091 | Retained earnings | $ 39,371 | $ 13,525 | |
| TOTAL ASSETS | $ 347,214 | $ 365,469 | $ 387,439 | Total owner''s equity | |||
| TOTAL LIABILITES AND OWNERS' EQUITY | $ 347,214 | $ 365,469 |
