International Financial Statement Analysis Workbook. Elaine Henry
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Название: International Financial Statement Analysis Workbook
Автор: Elaine Henry
Издательство: John Wiley & Sons Limited
Жанр: Бухучет, налогообложение, аудит
isbn: 9781119029724
isbn:
● Accruals are a necessary part of the accounting process and are designed to allocate activity to the proper period for financial reporting purposes.
● The results of the accounting process are financial reports that are used by managers, investors, creditors, analysts, and others in making business decisions.
● An analyst uses the financial statements to make judgments on the financial health of a company.
● Company management can manipulate financial statements, and a perceptive analyst can use his or her understanding of financial statements to detect misrepresentations.
PROBLEMS
1. Which of the following items would most likely be classified as an operating activity?
A. Issuance of debt.
B. Acquisition of a competitor.
C. Sale of automobiles by an automobile dealer.
2. Which of the following items would most likely be classified as a financing activity?
A. Issuance of debt.
B. Payment of income taxes.
C. Investments in the stock of a supplier.
3. Which of the following elements represents an economic resource?
A. Asset.
B. Liability.
C. Owners' equity.
4. Which of the following elements represents a residual claim?
A. Asset.
B. Liability.
C. Owners' equity.
5. An analyst has projected that a company will have assets of
A.
B.
C.
6. An analyst has collected the following information regarding a company in advance of its year-end earnings announcement (in millions):
The analyst's estimate of ending retained earnings (in millions) should be closest to:
A. $1,300.
B. $1,500.
C. $1,700.
7. An analyst has compiled the following information regarding Rubsam, Inc.
There have been no distributions to owners. The analyst's most likely estimate of total assets at year-end should be closest to:
A.
B.
C.
8. A group of individuals formed a new company with an investment of $500,000. The most likely effect of this transaction on the company's accounting equation at the time of the formation is an increase in cash and:
A. an increase in revenue.
B. an increase in liabilities.
C. an increase in contributed capital.
9. HVG, LLC paid $12,000 of cash to a real estate company upon signing a lease on 31 December 2005. The payment represents a $4,000 security deposit and $4,000 of rent for each of January 2006 and February 2006. Assuming that the correct accounting is to reflect both January and February rent as prepaid, the most likely effect on HVG's accounting equation in December 2005 is:
A. no net change in assets.
B. a decrease in assets of $8,000.
C. a decrease in assets of $12,000.
10. TRR Enterprises sold products to customers on 30 June 2006 for a total price of
A.
B.
C.
11. On 30 April 2006, Pinto Products received a cash payment of $30,000 as a deposit on production of a custom machine to be delivered in August 2006. This transaction would most likely result in which of the following on 30 April 2006?
A. No effect on liabilities.
B. A decrease in assets of $30,000.
C. An increase in liabilities of $30,000.
12. Squires & Johnson, Ltd., recorded
A. no effect on assets.
B. a decrease in assets of
C. an increase in liabilities of
13. An analyst who is interested in assessing a company's financial position is most likely to focus on which financial statement?
A. Balance sheet.
B. Income statement.
C. Statement of cash flows.
14. The statement of cash flows presents the flows into which three groups of business activities?
A. Operating, СКАЧАТЬ