Unit 8 Mini exercises and quiz
maddogmania
unit_8_homework_templates_acc111.xlsxM12-1
| M12-1 | SOLUTIONS! | |||||||
| SOLUTIONS! | Identifying Companies from Cash Flow Patterns | |||||||
| Case 1 | Case 2 | Case 3 | ||||||
| Cash provided by (used for) operating activities | $3,000.00 | ($120,000.00) | $80,000.00 | |||||
| Cash provided by (used for) investing activities | ($70,000.00) | $10,000.00 | ($40,000.00) | |||||
| Csah provided by (used for) financing activities | $75,000.00 | $75,000.00 | ($30,000.00) | |||||
| Net change in cash | $8,000.00 | ($35,000.00) | $10,000.00 | |||||
| Cash position at the beginning of the year | $2,000.00 | $40,000.00 | $30,000.00 | |||||
| Cash position at the end of the year | $10,000.00 | $5,000.00 | $40,000.00 | |||||
| Case | ||||||||
| 1 | ||||||||
| 2 | ||||||||
| 3 |
M12-2
| M12-2 | SOLUTIONS! | ||
| SOLUTIONS! | Matching Items Reported to Cash Flow Statement Categories (Indirect Method) | ||
| answer | |||
| 1 | Purchase of Investments | ||
| 2 | Proceeds from issuance of stock | ||
| 3 | Purchase of property and equipment | ||
| 4 | Depreciation | ||
| 5 | Accounts payable (decrease) | ||
| 6 | Inventories (increase) |
M13-1
| M13-1 | SOLUTIONS! | |||||||||
| SOLUTIONS! | Calculations for Horizontal Analyses | |||||||||
| LOCKEY FENCING CORPORATION | ||||||||||
| Income Statements | ||||||||||
| For the year ended December 31 | ||||||||||
| 2013 | 20123 | $ change | % change | |||||||
| Amounts | Amounts | |||||||||
| Net Sales | $ 100,000.00 | $ 75,000.00 | ||||||||
| Cost of Goods Sold | $ 58,000.00 | $ 45,000.00 | ||||||||
| Gross Profit | $ 42,000.00 | $ 30,000.00 | ||||||||
| Selling, General, and Administrative Expenses | $ 9,000.00 | $ 4,500.00 | ||||||||
| Income from Operations | $ 33,000.00 | $ 25,500.00 | ||||||||
| Interest Expense | $ 3,000.00 | $ 3,750.00 | ||||||||
| Income before Income Tax | $ 30,000.00 | $ 21,750.00 | ||||||||
| Income Tax Expense | $ 9,000.00 | $ 6,525.00 | ||||||||
| Net Income | $ 21,000.00 | $ 15,225.00 | ||||||||
M13-2
| M13-2 | SOLUTIONS! | |||||||
| SOLUTIONS! | Calculations for Vertical Analyses | |||||||
| 2013 | % change | 2012 | % change | |||||
| Amounts | Amounts | |||||||
| Net Sales | $ 100,000.00 | $ 75,000.00 | ||||||
| Cost of Goods Sold | $ 58,000.00 | $ 45,000.00 | ||||||
| Gross Profit | $ 42,000.00 | $ 30,000.00 | ||||||
| Selling, General, and Administrative Expenses | $ 9,000.00 | $ 4,500.00 | ||||||
| Income from Operations | $ 33,000.00 | $ 25,500.00 | ||||||
| Interest Expense | $ 3,000.00 | $ 3,750.00 | ||||||
| Income before Income Tax | $ 30,000.00 | $ 21,750.00 | ||||||
| Income Tax Expense | $ 9,000.00 | $ 6,525.00 | ||||||
| Net Income | $ 21,000.00 | $ 15,225.00 | ||||||
