Exercicios Resolvidos de Contabilidade Financeira: Balanço, DRE, Fluxo de Caixa e Ratios

1 10 Regarding Financial Accounting read the following statements and mark True T or False F Main characteristic of data is that it must be reliable and objective Not governed by legal requirements Primary users are external ie creditors investors Focused on the future Reporting is based mainly on the company as a whole Information is verified by external auditors Focused on the past Reports tend to be prepared for the parts of the organization rather than the whole organization Primary users are internal ie company managers Governed by Generally Accepted Accounting Principles GAAP or International Financial Reporting Standards IFRS 2 40 The Wall Street company sells mattresses The company was formed on January 1st with 20000 as capital The following events happened in January In January 1st they get a loan to be paid every last day of the month They got 120000 to be paid in 12 months in equal amortizations Interest rate is 1 per month In January 5th they buy 100 mattresses for 50000 dollars They sold 50 of the mattresses in January for 30000 dollars half in cash half to be paid in the next months General expenses summed 1500 dollars They paid the first amortization plus the interest owed at the end of the month a Calculate the Balance Sheet Income Statement and also the Statement of Cashflows 3 points b Analyse the company in January Was it a good idea to get the 120000 loan 1 point 3 10 Calculating and interpreting profitability and risk ratios Gappo Group and Limito Brands maintain leading market positions in the specialty apparel retailing market The products of Gappo jeans blouses shirts are more standardized than those of Limito The products of Limito are more fashionoriented and glitzy Table 1 presents comparative income statements for fiscal year 2020 and Table 2 presents comparative balance sheets for Gappo and Limito at the ends of their 2019 and 2020 fiscal years Cash flows from operations for fiscal year 2020 were 2081 million for Gappo and 765 million for Limito The income tax rate is 35 On the basis of this information and appropriate financial statement ratios which company is a More profitable in fiscal year 2020 b Less risky in terms of shortterm liquidity in fiscal year 2020 c Less risky in terms of longterm liquidity in fiscal year 2020 A TABLE 1 INCOME STATEMENT For the Year Ended August 31 2020 Gappo Group Limito Brands Sales 15763 10134 Interest Revenue 117 146 Net Gains from Divestments of Retail Stores 0 230 Total Revenues 15880 10510 Expenses Cost of Goods Sold 10071 6592 Selling and Administrative 4377 2640 Interest Revenue 26 149 Income Taxes 539 411 Total Expenses 15013 9792 Net Income 867 718 B TABLE 2 BALANCE SHEET Gappo Group Limito Brands For the Year Ended August 31 2020 2020 2019 2020 2019 ASSETS Cash and Marketable Securities 1939 2644 1018 500 Accounts Receivable 0 0 355 176 Inventories 1575 1796 1251 1770 Prepayments 572 589 295 325 Total Current Assets 4086 5029 2919 2771 Property Plant and Equipment net 3267 3197 1862 1862 Other Noncurrent Assets 485 318 2656 2460 Total Assets 7838 8544 7437 7093 LIABILITIES AND SHAREHOLDERS EQUITY Accounts Payable 1006 772 517 593 Current Portion of LongTerm Debt 138 325 7 8 Other Current Liabilities 1289 1175 850 1108 Total Current Liabilities 2433 2272 1374 1709 LongTerm Debt 50 188 2905 1665 Other Noncurrent Liabilities 1081 910 939 764 Total Liabilities 3564 3370 5218 4138 Common Stock 55 55 262 262 Additional Paidin Capital 2783 2631 1550 1565 Retained Earnings 9223 8646 4758 4277 Accumulated Other Comprehensive Income 125 77 31 17 Treasury Stock 7912 6235 4382 3132 Total Shareholders Equity 4274 5174 2219 2955 Total Liabilities and Shareholders Equity 7838 8544 7437 7093 4 20 Concerning Managerial Accounting and Cost Analysis answer the following two questions a What are product costs Describe each of the three product costs for a manufacturing company Give examples b How do period costs differ from product costs 5 20 Crystal Cruiseline offers nightly dinner cruises off the coast of Miami San Francisco and Seattle Dinner cruise tickets sell for 60 per passenger Crystal Cruiselines variable cost of providing the dinner is 40 per passenger and the fixed cost of operating the vessels depreciation salaries docking fees and other expenses is 160000 per month The companys relevant range extends to 14000 monthly passengers Use the information from the Crystal Cruiseline Data Set to compute the following a Unit contribution margin and contribution margin ratio b Operating income if monthly sales total 11000 passengers c The number of dinner cruise tickets it must sell to breakeven and the sales dollars needed to breakeven d Prepare a CVP graph Use the information from the Crystal Cruiseline Data Set Draw a graph of Crystal Cruiselines CVP relationships Include the sales revenue line the fixed expense line and the total expense line Label the axes the breakeven point the income area and the loss area e If Crystal Cruiseline has a target operating income of 45000 per month how many dinner cruise tickets must the company sell Auxiliary formulas and definitions if necessary Interest Coverage Ratio Earnings Before Interest and Taxes EBIT Interest Expense Contribution Margin Sales Variable Costs Unit Contribution Margin Unit Selling Price Unit Variable Costs Contribution Margin Ratio Contribution Margin per UnitUnit Selling price Breakeven sales Fixed Costs Variable Cost Breakeven sales Fixed CostsContribution Margin Ratio Breakeven point in units Fixed CostsContribution Margin per Unit Target Net Income Required Sales Variable Costs Fixed Costs Target Net Income Target Net Income Required Sales Fixed CostsTarget Net Income Contribution Margin Ratio FSD21 W2067 FSD21 W2067