Homework for Class


1.Which of the following cannot be engaged in managing a businessA. limited partnerB. a general partnerC. a sole proprietorD. bone of the above4. During the last year, sigma co had a net income of $144, paid $18 in dividends and sold new stocks for $30. Beginning equity for the year was $600. ending equity was?5. The following items are components of a traditional balance sheet. How much are the total assets of the firmPlant and equipment                42,900Common Stocks                       15,000Cash                                          6,200Inventory                                   20,200bad Debts reserve                     6,000Additional paid in capital                       6,000Accumulated depreciation                   26,500Accounts receivables                              22,0006.Brigton corp bought an oil rig exactly 6 years ago for 102,000,000. Brigton depreicated oil rigs straight line over 10 years assuming no salvage value. (straight line Depreciation means that the yearly depreciation will be the purchase price of the oil rig divided by the number of years it will last, which is 10 years hers). the rig was just sold to british pretrolum for for $31,000,000. What capital gail/loss will grington report on this transaction?7. Walkers corp conducted the following activities during 2001, A.the sold 10,000 shares of their own stock for $16.00 per shares, B the issued bonds for which they received $495,000. C they paid dividends to thier stockholders totaling 83,000. D they sold a piece of equipment for $50,000 that they were carrying on thierbooks for $20,000 E they earned net income of 140,000. What would be shown on the statement of cash flows for “Cash from financing activities” based on the information above?8. Giving the following selected information on cicalese chocolate, calculate Cash flow from operating activities for the year 2011.                        Dec31, 2010              Dec31, 2011Eat                       $600,000                  $750,000Depreciation exp    100,000                  120,000Dividends                400,000                 550,000Account receivables 1,500,000         2,000,000Inventory                 3,500,000            2,000,000Accts Payable and accured   350,000     500,000Long term depts        2,300,000            3,000,000 common stocks     2,200,000             2,500,000Retained earnings 6,150,000          6,350,000            9. Cameron Balance sheetAcct payable and accured        26Acct receivables                        56Acct depreciation                       (175)cash                                               38Common Stocks                          120Fixed Assets  (gross)                 390Inventory                                   128long term debt                            200Retained earnings                      65What is cameron’s net working capital?10 A firms current ratio is 1.1, and its quick ratio is 1.0. if its current liability are $13,500, what are its inventories?11 .Iris income statementcost of goods sold               340Depreciation expenses         35interest expenses                 20Operating expenses(excluding Depreciation)  115sales                                        650What is Iris earning before interest and taxes (ebit)?12.  Iris Balance sheetAcct payables and accruals       65Acct receivables                         62Accumulated depreciation       (175)cash                                            29Common stock                          120Fixed assets(gross)                  390inventory                                   133long term debt                           200retained earnings                        65What is Iris total asset?  14. Flying tiger has net sales of $748,000 and accounts receivables of $158,000 . what is the firms account receivable turnover? (Give answer up to two decimal places) 15. Regan has reported a net income of 828,400 for the year. The company’s shares price is $12.90, and the company has 315,040 shares outstanding. Compute the firms price-earnings ratio up to two decimal places.16. You purchased a piece of property for 30,000 nine years ago and sold it today for 83,190. what is the annual rate of return for your investment?17. The first National Bank has agreed to lend you $30,000 today, but you must repay $42,135 in 3 years. What percentage rate is the bank charging you?a, 13% b, 12%  c, 11%  d, 10%18. The Florida lottery agrees to pay the winner $282,000 at the end of each year for the next 20 years. What is the future value of the prize if each payment is put in an account earning 0.08?

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