Mgmt 200 Assignment Soln 4-22-11

Mgmt 200 Assignment Soln 4-22-11 - Federer Sports Apparel...

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Management 200 – Introductory Financial Accounting– Spring 2011 Krannert School of Management - Purdue University Solutions to class assignment for April 22, 2011 Exercise 12-4 Requirement 1 Federer Sports Apparel Balance Sheet December 31 2013 2012 Assets Amount % Amount % Cash $ 2,300,000 14.7 $ 800,000 5.8 Accounts receivable 1,500,000 9.6 1,200,000 8.8 Inventory 2,800,000 18.0 1,700,000 12.4 Buildings 11,000,000 70.5 11,000,000 80.3 Less: Accumulated depreciation (2,000,000) (12.8) (1,000,000) (7.3) Total assets $15,600,000 100.0 $13,700,000 100.0 Accounts payable $ 1,450,000 9.3 $ 1,700,000 12.4 Litigation liability 1,500,000 9.6 0 0.0 Common stock 8,000,000 51.3 8,000,000 58.4 Retained earnings 4,650,000 29.8 4,000,000 29.2 Total liabilities and stockholders’ equity $15,600,000 100.0 $13,700,000 100.0 Requirement 2
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Unformatted text preview: Federer Sports Apparel Balance Sheet December 31 Year Increase (Decrease) Assets 2013 2012 Amount % Cash $ 2,300,000 $ 800,000 $1,500,000 187.5 Accounts receivable 1,500,000 1,200,000 300,000 25.0 Inventory 2,800,000 1,700,000 1,100,000 64.7 Buildings 11,000,000 11,000,000 Less: Accumulated depreciation (2,000,000) (1,000,000) (1,000,000) 100.0 Total assets $15,600,000 $13,700,000 1,900,000 13.9 Accounts payable $ 1,450,000 $ 1,700,000 (250,000) (14.7) Litigation liability 1,500,000 1,500,000 N/A Common stock 8,000,000 8,000,000 Retained earnings 4,650,000 4,000,000 650,000 16.3 Total liabilities and stockholders’ equity $15,600,000 $13,700,000 1,900,000 13.9...
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