Brief Exercise 12-5
Manuel, Inc. reported net income of $2.9 million in 2014. Depreciation for the year was $159,110, accounts receivable decreased $343,160, and accounts payable decreased $289,200.
Compute net cash provided by operating activities using the indirect approach.
Brief Exercise 12-6
The net income for Freeman Co. for 2014 was $292,700. For 2014, depreciation on plant assets was $49,590, and the company incurred a loss on disposal of plant assets of $21,540.
Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the company's accounts.
Brief Exercise 12-7
The comparative balance sheets for Lowery Company show these changes in noncash current asset accounts: accounts receivable decrease $90,400, prepaid expenses increase $22,610, and inventories increase $33,680.
Compute net cash provided by operating activities using the indirect method, assuming that net income is $180,720.
Exercise 12-1
Putnam Corporation had these transactions during 2014.
Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities, financing activities, or noncash investing and financing activities.
Exercise 12-2
An analysis of comparative balance sheets, the current year's income statement, and the general ledger accounts of Judd Corp. uncovered the following items. Assume all items involve cash unless there is information to the contrary.
Indicate how each item should be classified in the statement of cash flows using these four major classifications: operating activity (indirect method), investing activity, financing activity, and significant noncash investing and financing activity.
Exercise 12-4
Cosi Company reported net income of $207,090 for 2014. Cosi also reported depreciation expense of $38,910 and a loss of $5,950 on the disposal of plant assets. The comparative balance sheet shows an increase in accounts receivable of $16,380 for the year, a $17,290 increase in accounts payable, and a $5,000 increase in prepaid expenses.
Prepare the operating activities section of the statement of cash flows for 2014. Use the indirect method.
Brief Exercise 13-4
Using these data from the comparative balance sheet of Ramirez Company, perform horizontal analysis.
Brief Exercise 13-5
Using these data from the comparative balance sheet of Ramirez Company, perform vertical analysis.
Exercise 13-3
Here is financial information for Spangles Inc.
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December 31, 2014
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December 31, 2013
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Current assets
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$110,161
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$ 92,230
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Plant assets (net)
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402,230
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354,161
|
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Current liabilities
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101,230
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69,161
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Long-term liabilities
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126,161
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92,230
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Common stock, $1 par
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134,161
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119,161
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Retained earnings
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150,839
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165,839
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Prepare a schedule showing a horizontal analysis for 2014, using 2013 as the base year.
Exercise 13-4
Operating data for Jacobs Corporation are presented below.
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2014
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2013
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Sales revenue
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$833,700
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$641,200
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Cost of goods sold
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530,100
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413,600
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Selling expenses
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127,900
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78,600
|
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Administrative expenses
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73,100
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51,800
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Income tax expense
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37,600
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24,700
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Net income
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65,000
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72,500
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Prepare a schedule showing a vertical analysis for 2014 and 2013.
Exercise 13-5
Suppose the comparative balance sheets of Nike, Inc. are presented here.
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NIKE, INC.
Condensed Balance Sheet
May 31
($ in millions)
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2014
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2013
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Assets
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|
|
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Current Assets
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$9,633
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$8,745
|
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Property, plant, and equipment (net)
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2,033
|
1,967
|
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Other assets
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1,466
|
1,609
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Total assets
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$13,132
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$12,321
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Liabilities and Stockholders' Equity
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|
|
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Current Liabilities
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$3,300
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$3,346
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Long-term liabilities
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1,268
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1,287
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Stockholders' equity
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8,564
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7,688
|
|
Total liabilities and stockholders' equity
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$13,132
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$12,321
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(a) Prepare a horizontal analysis of the balance sheet data for Nike, using 2013 as a base.
(b) Prepare a vertical analysis of the balance sheet data for Nike for 2014.
Exercise 13-6
Here are the comparative income statements of Eudaley Corporation.
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EUDALEY CORPORATION
Comparative Income Statement
For the Years Ended December 31
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2014
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2013
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Net sales
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$603,830
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$504,950
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|
Cost of goods sold
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451,800
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392,980
|
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Gross Profit
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152,030
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111,970
|
|
Operating expenses
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70,150
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36,180
|
|
Net income
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$ 81,880
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$ 75,790
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Prepare a horizontal analysis of the income statement data for Eudaley Corporation, using 2013 as a base.
Prepare a vertical analysis of the income statement data for Eudaley Corporation for both years.
Attachment:- Accounting_Assignment.rar