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1-3 - MBA733 Financial Statements Activities 1-10 Student...

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MBA733 Financial Statements Activities 1-10 Student Sheet NAME: , MBA733-E2WW, Prof. Timothy Brown, Assignment 1-4, 01/04/2012 ACTIVITY 1 – Highlight the correct financial statement report for each one. Q1 ..3 a. BS IS SE CF e. BS IS SE CF b. BS IS SE CF f. BS IS SE CF c. BS IS SE CF g. BS IS SE CF d. BS IS SE CF ACTIVITY 2 - Complete required information and/or highlight answer. Q1 Assets (millions) $35,994 Liabilities (millions) $23,888 Stockholders’ Equity (millions) $12106 Q2 Will the accounting equation hold true for every corporation? Yes No Can’t tell Why because assets will always be financed by either liabilities (debt) or stockholders equity. All assets are either owned free and clear by the owners (equity) or financed by creditors (debt). Q3 Assets can either be financed with liabilities OR Stockholder’s equity Q4 How is this company financed? Primarily with Liabilities Stockholder’s equity. How can you tell? Because Company’s assets were financed with $23,888 million worth of liabilities and $12,106 million Shareholder’s equity. Total liabilities ($23,888) are greater than total stockholders’ equity ($12,106). Q5 Note: follows order in text ------ a. A L SE g. A L SE b. A L SE h. A L SE c. A L SE i. A L SE d. A L SE j. A L SE f. A L SE k. A L SE e. A L SE l. A L SE Q6 a. $ 4,683 (millions) b. Largest asset title Property, plant, and equipment $ 11,663 (millions) Types of asset costs included in this account? Factory equipment for mixing beverages, bottling, and making snack food; factory, warehouse, and administrative buildings; sales and delivery vehicles; and computer equipment. 3 c. $ 2,846 (million) d. $ 381 (million ) e. $ 30,638 (million) ACTIVITY 3 - Complete required information and/or highlight answer. Q1 a. Rev Exp Not d. Rev Exp Not Activity 3.. c.. retail/service is missing answer is retail
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MBA733 Financial Statements Activities 1-10 Student Sheet b. Rev Exp Not e. Rev Exp Not c. Rev Exp Not f. Rev Exp Not Q2 a. 2 3 4 5 revenue accounts 2 3 4 5 expense accounts b. $ 43,251 (million) $ 20,351 (million) c. Largest expense account Cost of Goods Sold $ 20,351 (millions ) 3 Types of costs included in this account? Wholesale costs of inventory sold during accounting period.. syrup concentration for the beverages, ingredients for snack foods, packaging materials, manufacturing labor, and other manufacturing costs such as depreciation of PPE. d. Yes No $ 5,142 (millions) Q3 Revenues expenses Common stock Earnings ACTIVITY 4 - Complete required information and/or highlight answer. Q1 Revenue Receivables Net income Managers Stockholders Dividends Expenses Retained earnings or kept Dividends Expenses Retained earnings Q2 Income Stmt: Revenues – Expenses = Net Income Balance Sheet: Assets = Liabilities + Stockholder’s Equity Stockholder s’ Equity = Contribute d Capital + Retained Earnings + Other Equity Statement of SE: Beg Retained earnings + Net Income - dividend s = Retained Earnings, ending Q3 IS SE BS CC RE Other SE IS SE BS Q4 a. IS SE BS e. IS SE BS Activity 3.. c.. retail/service is missing answer is retail
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MBA733 Financial Statements Activities 1-10 Student Sheet b. IS SE
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