ACC 291 week8 E13-8 and E14-3
XACC291 wk8 individual exercises Ch. 13 & 14
Individual Exercises – Week Eight Resources: Ch. 13 & 14 of
Financial Accounting Complete Exercises E13-8 & E14-3. Submit as a
Microsoft® Excel or Word® document.
E13-8 Here are comparative balance sheets for Taguchi Company.
TAGUCHI COMPANY
Comparative Balance Sheets
31-Dec
Assets 2011 2010
Cash $73,000 $22,000
Accounts receivable 85,000 76,000
Inventories 170,000 189,000 170,000 189,000
Land 75,000 100,000 75,000 100,000
Equipment 260,000 200,000 260,000 200,000
Accumulated depreciation (66000) (32000)
Total $597,000
$555,000
Liabilities and Stockholders’ Equity
Accounts payable $39,000
$47,000
Bonds payable 150,000 200,000
Common stock ($1 par) 216,000 174,000
Retained earnings 192,000 134,000
Total $597,000
$555,000
Additional information:
1. Net income for 2011 was $103,000.
2. Cash dividends of $45,000 were declared and paid.
3. Bonds payable amounting to $50,000 were redeemed for cash $50,000.
4. Common stock was issued for $42,000 cash.
5. No equipment was sold during 2011, but land was sold at cost.
Instructions
Prepare a statement of cash flows for 2011 using the indirect method.
E14-3 The comparative condensed balance sheets of Conard Corporation are
presented below.
CONARD CORPORATION
Comparative Condensed Balance Sheets
31-Dec
2012 2011
Assets
Current assets 74,000 $80,000
Property, plant, and equipment (net)
99,000 90,000
Intangibles 27,000 40,000
Total assets $200,000
$210,000
Liabilities and stockholders’ equity
Current liabilities $42,000
$48,000
Long-term liabilities 143,000 150,000
Stockholders’ equity 15,000 12,000
Total liabilities and stockholders’ equity $200,000
$210,000
Instructions
(a) Prepare a horizontal analysis of the balance sheet data for Conard
Corporation using 2011 as a base.
(b) Prepare a vertical analysis of the balance sheet data for Conard
Corporation in columnar form for 2012.
TUTORIAL PREVIEW
(a)
CONARD CORPORATION
Condensed Balance Sheets
31-Dec
2012
|
2011
|
Increase
|
Percentage Change
|
|
(Decrease)
|
from 2011
|
|||
Assets
|
||||
Current assets
|
74,000
|
80000
|
-6,000
|
-7.50%
|
Property, plant & equipment (net)
|
99,000
|
90,000
|
9,000
|
10.00%
|
File name: XACC291 wk8 E13-8
E14-3.xls File type: doc PRICE: $10
