Homework for Class

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1.Which of the following cannot be engaged in managing a business

A. limited partner

B. a general partner

C. a sole proprietor

D. bone of the above

4. During the last year, sigma co had a net income of $144, paid $18 in dividends and sold new stocks for $30. Beginning equity for the year was $600. ending equity was?

5. The following items are components of a traditional balance sheet. How much are the total assets of the firm

Plant and equipment                42,900

Common Stocks                       15,000

Cash                                          6,200

Inventory                                   20,200

bad Debts reserve                     6,000

Additional paid in capital                       6,000

Accumulated depreciation                   26,500

Accounts receivables                              22,000

6.Brigton corp bought an oil rig exactly 6 years ago for 102,000,000. Brigton depreicated oil rigs straight line over 10 years assuming no salvage value. (straight line Depreciation means that the yearly depreciation will be the purchase price of the oil rig divided by the number of years it will last, which is 10 years hers). the rig was just sold to british pretrolum for for $31,000,000. What capital gail/loss will grington report on this transaction?

7. Walkers corp conducted the following activities during 2001, A.the sold 10,000 shares of their own stock for $16.00 per shares, B the issued bonds for which they received $495,000. C they paid dividends to thier stockholders totaling 83,000. D they sold a piece of equipment for $50,000 that they were carrying on thierbooks for $20,000 E they earned net income of 140,000. What would be shown on the statement of cash flows for “Cash from financing activities” based on the information above?

8. Giving the following selected information on cicalese chocolate, calculate Cash flow from operating activities for the year 2011.

                        Dec31, 2010              Dec31, 2011

Eat                       $600,000                  $750,000

Depreciation exp    100,000                  120,000

Dividends                400,000                 550,000

Account receivables 1,500,000         2,000,000

Inventory                 3,500,000            2,000,000

Accts Payable and accured   350,000     500,000

Long term depts        2,300,000            3,000,000

 common stocks     2,200,000             2,500,000

Retained earnings 6,150,000          6,350,000   


9. Cameron Balance sheet

Acct payable and accured        26

Acct receivables                        56

Acct depreciation                       (175)

cash                                               38

Common Stocks                          120

Fixed Assets  (gross)                 390

Inventory                                   128

long term debt                            200

Retained earnings                      65

What is cameron’s net working capital?

10 A firms current ratio is 1.1, and its quick ratio is 1.0. if its current liability are $13,500, what are its inventories?

11 .Iris income statement

cost of goods sold               340

Depreciation expenses         35

interest expenses                 20

Operating expenses(excluding Depreciation)  115

sales                                        650

What is Iris earning before interest and taxes (ebit)?

12.  Iris Balance sheet

Acct payables and accruals       65

Acct receivables                         62

Accumulated depreciation       (175)

cash                                            29

Common stock                          120

Fixed assets(gross)                  390

inventory                                   133

long term debt                           200

retained earnings                        65

What is Iris total asset?

  14. Flying tiger has net sales of $748,000 and accounts receivables of $158,000 . what is the firms account receivable turnover? (Give answer up to two decimal places) 

15. Regan has reported a net income of 828,400 for the year. The company’s shares price is $12.90, and the company has 315,040 shares outstanding. Compute the firms price-earnings ratio up to two decimal places.

16. You purchased a piece of property for 30,000 nine years ago and sold it today for 83,190. what is the annual rate of return for your investment?

17. The first National Bank has agreed to lend you $30,000 today, but you must repay $42,135 in 3 years. What percentage rate is the bank charging you?

a, 13% b, 12%  c, 11%  d, 10%

18. The Florida lottery agrees to pay the winner $282,000 at the end of each year for the next 20 years. What is the future value of the prize if each payment is put in an account earning 0.08?


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