Accounting 206 Week 2 Assignment
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Accounting 206 Week 2 Assignment

Course Number: ACC 206, Spring 2013

College/University: Ashford University

Word Count: 501

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Operating activity (O) Investing activity (I) Financing activity (F) Noncash investing and financing activity (NIF) Transaction that is not reported on the statement of cash flows O+ a. Loss on sale of land NIF b. Acquisition of equipment by issuance of note payable F- c. Payment of long-term debt. NIF d. Acquisition of building by issuance of common stock. O+ e. Increase in salary payable O+ f. Decrease in...

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activity Operating (O) Investing activity (I) Financing activity (F) Noncash investing and financing activity (NIF) Transaction that is not reported on the statement of cash flows O+ a. Loss on sale of land NIF b. Acquisition of equipment by issuance of note payable F- c. Payment of long-term debt. NIF d. Acquisition of building by issuance of common stock. O+ e. Increase in salary payable O+ f. Decrease in inventory O- g. Increase in prepaid expenses O- h. Decrease in accrued liabilities. I+ i. Cash sale of land F+ j. Issuance of lon-term note payable to borrow cash. O+ k. Depreciation. F- l. Purchase of treasury stock. F+ O+ O+ F- m. Issuance of common stock n. Increase in accounts payable o. Net income p. Payment of cash dividend. Johnson, Inc. Statement of Cash Flow Year Ended December 31, 2012 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation Gain on sale of building Decrease in accounts receivable Decrease in inventory Increase in accounts payable Decrease in income tax payable Net cash provided by operating activities Cash flows from investing activities: Acquisition of eqiuipment Cash receipt from sale of building ($53,000 + $5,500) Net cash used for investing activities Cash flows from financing activities: Cash receipt from issuance of common stock Cash receipt from issuance of notes payable Payment of notes payable Payment of dividends Net cash provided by financing activities Net increase in cash and cash equivalent Cash and cash equivalent balance, December 31, 2011 Cash and cash equivalent balance, December 31, 2012 Noncash investing and financing activities: Acquisition of land by issuing of long-term note noncash payable Total investing and financing activities $70,500.00 $25,000.00 ($5,500) $4,700.00 ($7,000) $1,700.00 ($2,700) $16,200.00 $86,700.00 ($75,000) $58,500.00 ($16,500) $40,000.00 $67,000.00 ($48,100) ($54,000) $4,900.00 $75,100.00 $17,000.00 $92,100.00 $122,000.00 $122,000.00 1. Compute ratios for 2012 and 2011: A. Current ratio 2012 ($58,000 + 31,000 + 110,000 + 247,000)/255,000 2011 ($57,000 + 0 + 132,000 + 297,000)/222,000 = = 1.75 2.19 Acid test ratio 2012 ($58,000 + 31,000 + 110,000)/255,000 2011 ($57,000 + 0 + 132,000)/222,000 = = 0.78 0.85 Debt ratio 2012 2011 ($255,000 + 46,000)/585,000 ($222,000 + 48,000)/535,000 = = 0.51 0.50 D. Debt to equity 2012 301,000/($585,000 - 301,000) 2011 270,000/($535,000 - 270,000) = = 1.06 1.02 B. C. 1. Compute the following ratios for 2012 and 2011 2012 a. Current ratio $366,000/225,000 = 1.63 $381,000/246,000 b. Times-interest-earned-ratio $94,000/9000 = 10.44 $76/10 = 7.60 c. Inventory turnover $237,000/((145,000+163,000)/2) = 1.54 $218,000/((163,000+203,000)/2) = 1.19 d. Gross profit percentage $230,000/467,000 = 49.25% $210,000/428,000 = 49.1% e. Debt to equity ratio $339000/(577,000-339000) = 1.42 $343,000/(560,000-343,000) = 1.58 f. Rate or return on common stockholder's equity g. Earnings per share of common stock h. Price/earnings ratio 2011 ($61,000-(108,000x.03))/((130,000+109,000)/2) = 48.3% = 1.55 ($39,000-(108,000*3%))/((109,000+85,000)/2) = 36.9% (($61,000-(108,000*3%))/12,000 = $4.81 (($39,000-(108,000*3%))/10,000 = $3.58 86.58/4.81 = 46.54/3.58 = 18.00 2. Describe whether (a) improved or deteriorated during 2012 or whether (b) increased or decreased A. Improved B. Increased 13.00

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