ps2_sol - Problem Set #2: Chemalite Case 1. Record the...

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Problem Set #2: Chemalite Case 15.515 Fall 2003 Session 1 1. Record the effects of Chemalite’s 1991 events on the BSE worksheet Event Cash A/R Inventory Patent Cap. Exp. PPE Notes Pay Paid in Capital RE RE Explanation P1 375,000 125,000 500,000 P2 (7,500) 7,500 P3 (62,500) 62,500 P4 (75,000) 75,000 230,000 - - - Balance Sheet T1 (23,750) (23,750) R&D Expense T2 685,000 69,500 754,500 Revenue T3 (175,000) 175,000 T4 (22,500) (22,500) Adv. Expense T5.1 (350,000) 350,000 T5.2 (80,000) (80,000) Admin Expenses T6 (150,000) 150,000 T7.1 50,000 T7.2 (50,750) (50,000) (750) Interest Expense O1 (545,000) (545,000) Inv. Adjustment O2 (25,000) (25,000) Amort. Expense O3 (10,625) (10,625) Depr. Expense O4 O5 Total 113,000 55,000 100,000 201,875 - 46,875 Cash Flow type (O, I, F) F I I O O O O O O O I F F O - - -
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Problem Set #2: Chemalite Case 15.515 Fall 2003 Session 1 3. Balance Sheet (6/31/91): Assets Cash 230,000 Accounts Receivable - Inventories 75,000 Total Current Assets 305,000 Property, Plant, & Equipment 62,500 Other (Capitalized Start-up Expenses) 7,500 Patent 125,000 Total Assets 500,000 Liabilities and Stockholders' Equity Common Stock Retained earnings - Total Liabilities and SE
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Problem Set #2: Chemalite Case 15.515 Fall 2003 Session 1 3. Income Statement (For 6 months June 30, 1991): Revenue - Costs and Expenses Advertising - Administration - Manufacturing costs - Raw materials - R&D - Interest - Depreciation - Amortization of patent - - Net Income -
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15.515 Fall 2003
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This note was uploaded on 01/16/2012 for the course ACCOUNTING 15.501 / 1 taught by Professor Sugataroychowdhury during the Spring '04 term at MIT.

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ps2_sol - Problem Set #2: Chemalite Case 1. Record the...

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