ACE 345 Fall 2012
Homework #4
Due Wednesday October 3rd, 2012
Create a word document with all of your answers to the homework. Turn in a hardcopy of your
homework in class next Wednesday October 3rd.
For questions 1-4 you will need to refer to the 2011 sy

Patrick Williams
ACE 345 - Fall 2012
Homework 5 100 pts.
Due Wednesday Oct. 24th in class
TYPE your answers up in a word document and turn in a hardcopy on or before the due date.
Round your answers AFTER making calculations to two digits past the decimal

STATEMENT OF OWNER EQUITY
for
Illini Tap
For the period:
December 31, 2010
to: December 31, 2011
Item
Subtotal
Total
Beginning of period owner equity
Changes in contributed capital and retained earnings:
Net Income
Withdrawals owner/family living
Capital

ACE 345 Fall 2012
Homework 1
Due Wed Sep 12th, 2012 by 12:00 pm
Instructions: (i)
(ii)
Use the Excel template provided in the Homework 1 folder on the Compass
website (HW1 blank template)
This assignment should be turned in as a hardcopy in class on Wed.

1
Name: _
ACE 345 - Fall 2008
Midterm 2 Nov. 12, 2008
Show all of your work/calculations, and put all answers in boxes where provided.
Round all final answers to nearest cent (e.g. $234.56), or to the second decimal place after converting to
percentages

ACE 345 Fall 2009
Midterm 1
Oct. 5th 2009
Name (1 pt.):_
(25 pts.)
I. Balance Sheet
1. Finish the Noncurrent Liability, Equity, and Notes sections of the 2008 balance sheet for
XYZ Corp. Templates for noncurrent deferred tax and valuation equity calculati

ACE 345
Midterm 1
Sep 29th 2008
Name (1 pt.):_
(30 pts.)
I. Income Statement Preparation
Using the information below, complete the income statement provided on the final page of the
exam. Enter the line number on the income statement where the entry is us

Name: _
ACE 345 - Fall 2009
Midterm 2 Nov. 11, 2009
Read each question carefully.
Show your work and any calculations you do to receive partial credit.
Note any assumptions that you make in addition to the information that is given.
Good luck.
Section I.

Pat Williams
ACE 345 Fall 2012
Homework #6 - 100 pts.
TYPE your work/solutions and turn in a
hardcopy in class on (or before) Friday Nov. 2nd
(15 pts.)
1. Phil Farmer just sold his farm to his nephew and financed it with the following terms. The
nephew wi

ACE 345 Fall 2012
Homework #3
Due Wednesday September 26, 2012
Turn in a hardcopy of this assignment in class on Wednesday September 26th. This should include
printouts of the SOE, CFS and the worksheets that go with each, and typed answers to the short
a

ACE 345 Fall 2015
Class #25 Notes
October 21, 2015
Admin: (i) HW 5 due now; (ii) HW 6 out today, due next Wednesday Oct 28th
Today: (i) Capital Budgeting
Capital Budgeting Introductory Issues:
A. Two main considerations:
i. Feasibility can you actually ca

ACE 345 Fall 2015
Class #11 Notes
September 18, 2015
Admin: (i) HW 3 emailed out and posted on Wednesday (Sep 16), due next Wednesday (Sep 23) in
class; (iii) HW 1 grades are now posted
Today: (i) The system of financial statements; (ii) Historical vs. Fu

ACE 345 Fall 2015
Class #16 Notes
September 30th, 2015
Admin: (i) HW 4 due now; (ii) Midterm review session on Friday, Midterm 1 in class on
Monday
Today: (i) Timing of capital purchases and changes in market valuation effect on return
measures, Illini Ta

ACE 345 Fall 2015
Class #20 Notes
October 9, 2015
Admin: (i) Time Value of Money (TVM) readings available on the website; (ii) TVM template; (iii)
HW 5 next week;
Today: (i) Start Time Value of Money (TVM) section
I.
Intro to Time Value of Money
A dollar

ACE 345 Fall 2015
Class #21 Notes
October 12, 2015
Admin: (i) Time Value of Money (TVM) readings available on the website; (iii) HW 5 will go
out on Wednesday; (iv) Midterm 2 on Wednesday November 11th in class;
Today: (i) Time Value of Money
I. Time Valu

ACE 345 Fall 2015
Class #22 Notes
October 14, 2015
Admin: (i) HW 5 will be sent out this afternoon, collection of TVM problems
Today: (i) TVM formulas; (ii) Multi-step TVM problem; (iii) perpetual payments
I. Time Value of Money Formulas
Single payment fo

ACE 345 Fall 2015
Class #23 Notes
October 16, 2015
Admin: (i) HW 5 due next Wednesday Oct 21st
Today: (i) Perpetual payment series; (ii) Multiple compounding periods per year; (iii) a few
other applications of TVM
Perpetual payments
The payment series for

Inputs
Interest rate (annual)
r
0
Periods (years)
t
1
Compoundings per period
m
1
Payment Amount
P
Vt
$0.00
Future Value
Type (1=beginning, 0=ending)
$0.00
0
Output
Present Value
V0
$0.00
Inputs
Interest rate (annual)
r
0
Periods (years)
t
1
Compoundings

ACE 345 Fall 2015
Class #24 Notes
October 19, 2015
Admin: (i) HW 5 due Wednesday
Today: (i) Beginning vs. End of period payments; (ii) TVM Factors; (iii) Equivalence; (iv)
Capital Budgeting
I. Beginning vs. End of period calculations for payment problems:

ACE 345 Fall 2015
Class #26 Notes
October 23, 2015
Admin: (i) HW 6 due next Wednesday, Oct 28th;
Today: (i) NATCFs other cash effects and loan payments; (ii) example with loan payments
Net-after-tax-cash-flows (NATCF)
A more detailed look at the component

Inputs
Interest rate (annual)
r
0.05
Periods (years)
t
5
Compoundings per period
m
1
Payment Amount
P
Vt
$1,000.00
Future Value
Type (1=beginning, 0=ending)
$0.00
0
Output
Present Value
V0
$4,329.48
Inputs
Interest rate (annual)
r
0
Periods (years)
t
0
Co

INCOME STATEMENT
for
In-Class Example
For the period: January 1, 2008 to December 31, 2008
Item
REVENUES
Total cash receipts
Government program payments
Accrual adjustments:
Inventories
Accounts Receivable
Subtotal
Total
Line
Selected Balance Sheet Entrie

Common information:
Name:
In-Class Example
Today's date:
December 15, 2015
Balance Sheet Date:
December 31, 2007
Fed. Marginal Tax Rate:
SE rate:
State Inc. Tax rate
Type of Business:
28.00%
15.30%
3.00%
Farm - accrual
0
Balance Sheet
for
In-Class Example

Common information:
Name:
In-Class Example
Today's date:
December 15, 2015
Balance Sheet Date:
December 31, 2007
Fed. Marginal Tax Rate:
SE rate:
State Inc. Tax rate
Type of Business:
28.00%
15.30%
3.00%
Farm - accrual
0
Balance Sheet
for
In-Class Example

Useful Excel formulas for TVM:
The Present Value formula
=PV(rate, nper, pmt, fv, type)
rate = interest rate per (compounding )period
nper = number of (compounding) periods
pmt = dollar amount of each payment per (compounding) period in the series
fv = a