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Homework Help- BTE302 CMR302 Test: What are the five accounting classifications?
BTE302 CMR302 TestAnswer the Following
What are the five accounting classifications?
What accounting classifications are displayed on the Income Statement?
Give two examples of a Current Asset
What type of an asset is the account Patent?
What is the definition of a current asset?
Classify the account Mortgage Payable
How do you calculate Gross Profit
How do you calculateOperating Income?
List an example of a non-operating expense.
What classification is the account Common Stock?
CircletheCorrectAnswer.SHOWYOURWORKWhereRequired
Gilbert,hadthefollowingaccountbalancesatSeptember30,2010.WhatisGilbert’snetincomeforthemonthofSeptember?
Inventory 10,000
Cash 14,300
Equipment 15,400
FeesEarned 54,400
MiscellaneousExpense 18,200
RentExpense 2,000
RetainedEarnings 6,550
WagesExpense 13,900
$32,450
$10,300 SHOW YOUR WORK
$20,300
$18,150
Sales = $12,000, Cost of Sales = $4,000, Operating Expenses = $ 1,000, Other Expenses = $ 2,000. What is the Gross Profit?
___________________________ SHOW YOUR WORK
NBCCompanyhad$32,000innetsales,$15,000incostofmerchandisesold,$14,000inoperatingexpenses,and$2,000inotherincome.WhatisNBCCompany’soperating profit?
$17,000
$3,000 SHOW YOUR WORK
$1,000
($1, 000)
IncomethatCANNOTbetraced directlytooperationsareidentified as
On the Statement of Cash Flows, where is the purchase of property, plant and equipment recorded?
____________________________
On the Statement of Cash Flows, where are dividends recorded?
_____________________________
Assets = $ 13,000 Equity = $ 6,000 Liabilities = __________________
Liabilities = 4,000 Assets = $ 8,000 Equity = __________________
The Economy(Fill-In)
Whichindicatoristhebestindicatorofwholesale inflation?
Whichindicatormeasures unemployment and employee hourly wages?
Whichindicator isaleadingindicatorof economic growth
Whatcananincreaseininventoriesmean?
Whicheconomictheorybelievesthatthegovernmentshouldnot intervene duringa fiscalcrisis?
Domino’s Pizza (Fill-In)
Use the Domino’s Pizza Statement of Cash Flows listed below to answer the following questions.
Omit trailing zeros when entering data. Use brackets ( ) to indicate cash used in the statement.
2012 Cash Flow from Operations
2014 Cash Flow from Investing
2014 Cash Flow from Financing
What was the primary Operating activity and the amount for 2013?
What was the primary Financing activity and the amount for2012?
The company did not borrow funds in 2013 T F
The company paid dividends in 2012 T F
The company had a positive cash flow from Financing in 2013: T F
What was the highest amount borrowed over the three year period?
Domino’s Pizza, Inc. (DPZ)
110.77 1.05(0.94%)
Period Ending
Dec 28, 2014
Dec 29, 2013
Dec 30, 2012
Net Income
162,587
142,985
112,392
Operating Activities,Cash Flows Provided By or Used In
Depreciation
41,534
31,677
37,767
Adjustments To Net Income
(11,805)
7,654
6,065
Changes In Accounts Receivables
(12,710)
(11,001)
(6,917)
Changes In Liabilities
24,560
22,716
27,716
Changes In Inventories
(11,627)
(242)
(703)
Changes In Other Operating Activities
—
—
—
Total Cash Flow From Operating Activities
192,339
193,989
176,320
Investing Activities,Cash Flows Provided By or Used In
Capital Expenditures
(70,093)
(40,387)
(29,267)
Investments
—
—
—
Other Cash flows from Investing Activities
12,650
(59,346)
36,615
Total Cash Flows From Investing Activities
(57,443)
(99,733)
7,348
Financing Activities,Cash Flows Provided By or Used In
Dividends Paid
(52,643)
(34,241)
(185,464)
Sale Purchase of Stock
(73,379)
(87,681)
(79,293)
Net Borrowings
(12,332)
(24,349)
109,491
Other Cash Flows from Financing Activities
19,656
11,467
10,375
Total Cash Flows From Financing Activities
(118,898)
(134,804)
(177,449)
Effect Of Exchange Rate Changes
474
118
(1,698)
Change In Cash and Cash Equivalents
16,472
(40,430)
4,521
Using the financial statements listed below, complete the following:
Omit trailing zeros when entering data.
Total Revenue for 2015 _______________________
Net Income (Loss) for 2016 _______________________
Current Assets for 2017 _______________________
Total Liabilities for 2017 _______________________
Cash Flow from Operations 2016 _______________________
Stockholder’s Equity for 2015 _______________________
Inventory for 2016 _______________________
Primary Financing Activity (Stmt of Cash Flows) for 2016 _______________________
Net Income from Continuing Operations for 2015 _______________________
Accounts Payable for 2015 _______________________
Total Assets for 2016 _______________________
Cash flow from Investing 2015 _______________________
Cost of Revenue 2016 _______________________
Gross Profit 2015 _______________________
Retained Earnings 2016 _______________________
Primary Operating Activity (Stmt of Cash Flows) for 2016 _______________________
Selling, General and Administrative Expenses for 2015 _______________________
Income Tax Expense 2016 _______________________
Income Statement
All numbers in thousands
Revenue
12/31/2017
12/31/2016
12/31/2015
Total Revenue
40,653,000
27,638,000
17,928,000
Cost of Revenue
5,454,000
3,789,000
2,867,000
Gross Profit
35,199,000
23,849,000
15,061,000
Operating Expenses
Research Development
7,754,000
5,919,000
4,816,000
Selling General and Administrative
7,242,000
5,503,000
4,020,000
Operating Income or Loss
20,203,000
12,427,000
6,225,000
Income from Continuing Operations
Earnings Before Interest and Taxes
20,594,000
12,518,000
6,194,000
Income Before Tax
20,594,000
12,518,000
6,194,000
Income Tax Expense
4,660,000
2,301,000
2,506,000
Net Income From Continuing Ops
15,920,000
10,188,000
3,669,000
Net Income
15,920,000
10,188,000
3,669,000
Balance Sheet
All numbers in thousands
Period Ending
12/31/2017
12/31/2016
12/31/2015
Current Assets
Cash And Cash Equivalents
8,079,000
8,903,000
4,907,000
Short Term Investments
33,632,000
20,546,000
13,527,000
Net Receivables
5,832,000
3,993,000
2,559,000
Inventory
–
–
–
Other Current Assets
1,020,000
959,000
659,000
Total Current Assets
48,563,000
34,401,000
21,652,000
Long Term Investments
–
–
–
Property Plant and Equipment
13,721,000
8,591,000
5,687,000
Goodwill
18,221,000
18,122,000
18,026,000
Intangible Assets
1,884,000
2,535,000
3,246,000
Accumulated Amortization
–
–
–
Other Assets
2,135,000
1,312,000
796,000
Deferred Long Term Asset Charges
–
–
–
Total Assets
84,524,000
64,961,000
49,407,000
Current Liabilities
Accounts Payable
3,272,000
2,505,000
1,645,000
Short/Current Long Term Debt
390,000
280,000
224,000
Other Current Liabilities
98,000
90,000
56,000
Total Current Liabilities
3,760,000
2,875,000
1,925,000
Long Term Debt
–
–
107,000
Other Liabilities
6,417,000
2,892,000
3,157,000
Deferred Long Term Liability Charges
–
–
–
Minority Interest
–
–
–
Negative Goodwill
–
–
–
Total Liabilities
10,177,000
5,767,000
5,189,000
Stockholders’ Equity
Misc. Stocks Options Warrants
–
–
–
Redeemable Preferred Stock
–
–
–
Preferred Stock
–
–
–
Common Stock
–
–
–
Retained Earnings
33,990,000
21,670,000
9,787,000
Treasury Stock
–
–
–
Capital Surplus
40,584,000
38,227,000
34,886,000
Other Stockholder Equity
-227,000
-703,000
-455,000
Total Stockholder Equity
74,347,000
59,194,000
44,218,000
Cash Flow
All numbers in thousands
Period Ending
12/31/2017
12/31/2016
12/31/2015
Net Income
15,920,000
10,188,000
3,669,000
Operating Activities, Cash Flows Provided By or Used In
Depreciation
3,025,000
2,342,000
1,945,000
Adjustments To Net Income
3,370,000
2,791,000
3,903,000
Changes In Accounts Receivables
-1,609,000
-1,489,000
-973,000
Changes In Liabilities
3,534,000
2,392,000
1,904,000
Changes In Inventories
–
–
–
Changes In Other Operating Activities
-38,000
-145,000
-147,000
Total Cash Flow From Operating Activities
24,216,000
16,108,000
10,320,000
Investing Activities, Cash Flows Provided By or Used In
Capital Expenditures
-6,733,000
-4,491,000
-2,523,000
Investments
-13,250,000
-7,186,000
-6,700,000
Other Cash flows from Investing Activities
-55,000
-62,000
-211,000
Total Cash Flows From Investing Activities
-20,038,000
-11,739,000
-9,434,000
Financing Activities, Cash Flows Provided By or Used In
Dividends Paid
–
–
–
Sale Purchase of Stock
-1,976,000
-1,976,000
-1,976,000
Net Borrowings
–
-312,000
-119,000
Other Cash Flows from Financing Activities
-3,259,000
2,000
-20,000
Total Cash Flows From Financing Activities
-5,235,000
-310,000
-139,000
Effect Of Exchange Rate Changes
233,000
-63,000
-155,000
Change In Cash and Cash Equivalents
-824,000
3,996,000
592,000
Income Statement
All numbers in thousands
Revenue
12/31/2017
12/31/2016
12/31/2015
Total Revenue
40,653,000
27,638,000
17,928,000
Cost of Revenue
5,454,000
3,789,000
2,867,000
Gross Profit
35,199,000
23,849,000
15,061,000
Operating Expenses
Research Development
7,754,000
5,919,000
4,816,000
Selling General and Administrative
7,242,000
5,503,000
4,020,000
Non Recurring
–
–
–
Others
–
–
–
Total Operating Expenses
–
–
–
Operating Income or Loss
20,203,000
12,427,000
6,225,000
Income from Continuing Operations
Total Other Income/Expenses Net
–
–
–
Earnings Before Interest and Taxes
20,594,000
12,518,000
6,194,000
Interest Expense
–
–
–
Income Before Tax
20,594,000
12,518,000
6,194,000
Income Tax Expense
4,660,000
2,301,000
2,506,000
Minority Interest
–
–
–
Net Income From Continuing Ops
15,920,000
10,188,000
3,669,000
Non-recurring Events
Discontinued Operations
–
–
–
Extraordinary Items
–
–
–
Effect Of Accounting Changes
–
–
–
Other Items
–
–
–
Net Income
Net Income
15,920,000
10,188,000
3,669,000
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