Unit 9
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Unit 9 Exercises
Weight
2% of the final grade
Due
no later than 11:00 p.m. on Sunday of Unit 9
Objectives [ULO 9.1, 9.2, 9.3, 9.4]
Evaluation and Feedback
Unit 9 will be marked in its entirety out of 100. The following scale indicates the criteria students are to
adhere to, and their relative weights to the assignment overall.
Activity/Competencies Demonstrated
% of Final Grade
Question 1 Explain interest on principal loan
/8
Question 2
Identify the component of statement of cash flow
/26
Question 3
Explain gain or loss on PP&E
/12
Question 4
Prepare complete financial statement
/54
Total
/100
Exercise Questions
Question 9.1
1.
What primary factor should a creditor consider when evaluating whether a corporation can pay the interest and principal on a loan at maturity?
The factors that are typically in interest in these scenarios are the 5 C’s. These 5 C’s are:
Character, Capacity, Condition, Capital, and Collateral. Character is the integrity of the borrower based off of past records, capacity is the capacity to service the debt through cash generating ability, condition regards the market and economic conditions, capital refers to whether the borrower has a sufficient equity invested, and collateral refers to whether this loan can be backed by collateral in the form of other assets.
Question 9.2
2.
Classify each of the following as an operating, investing, or financing activity under ASPE:
Loaning money - Investing
Receipt of cash from the issuance of bonds payable - Financing
Receipt of cash from the sale of equipment - Investing
Payments of acquisition of land - Operating
Receiving cash from customers - Operating
BUSI 1043 I
NTRODUCTION
TO
F
INANCIAL
A
CCOUNTING
1
WWW.YORKVILLEU.CA
Receiving interest revenue - Operating
Payments for inventory - Operating
Payments for interest - Operating
Receipt of cash from the issuance of stock - Financing
Dividends paid to shareholders - Financing
Receipt of dividend income - Operating
Payment of salaries to employees - Operating
Payment of taxes - Operating
Question 9.3
Three-Eyed Raven Ltd. reported the following on December 31, 2016 (in thousands):
2016
2015
From the comparative balance sheet
Property and equipment, net
$11,150
$9,590
Long-term notes payable
4,400
3,080
From the statement of cash flows:
Depreciation
$1,920
Capital expenditures
(4,130)
Proceeds from sale of property and equipment
770
Proceeds from issuance of long-term note payable
1,190
Payment of long-term note payable
(110)
Issuance of common shares
383
3.
Determine the following items for Three Eyed Raven Ltd. During 2016:
Gain or loss on the sale of property and equipment.
Amount of long-term debt issued for something other than cash. 9590 + 4130 - 1920 – Y = 11150
-Y = 11150 – 9540 – 4130 + 1920
-Y = -650
Y = 650
Gain = $770 - $650
Gain = $120
3080 + 110 – Y = 4400
-Y = 4400 – 3080 – 110
-Y = 1210
Y = (1210)
BUSI 1043 I
NTRODUCTION
TO
F
INANCIAL
A
CCOUNTING
2
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Recommended textbooks for you
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,
Practical Management Science
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ISBN:9781337406659
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Publisher:Cengage,