财务报表分析期中考试03test

Mid-term Exam1. Single-choice question(1) Which of the following ratios is not generally considered to be helpful inassessing short-term liquidity?ACurrent ratioBAcid-test ratioCDays collection periodDTotal asset turnover(2) What accounts are most likely to be found in the stockholders equity section ofthe balance sheet?ACommon stock, short-term debt, preferred stock. BCommon stock, inventories, additional paid-in capital. CCommon stock, additional paid-in capital, accrued liabilities. DCommon stock, additional paid-in capital, retained earnings.(3) What does the income statement measure for a firm?AThe change in revenue and cost the occurred during the periodBThe financing and investment activities for a periodCThe results of operations of a periodDThe financial position of a company on a particular date(4)In the statement of cash flows, which of the following items is included in theoperating activities?ABorrowing from creditors and repaying the principal BObtaining resources from owners CPayment of taxes DAll of the above(5) Which options cause the number of shares outstanding to increase and thus dilute ownership?这选项导致流通股数量增加，从而稀释股权？AConversion of debentures . 债券的转换。BWarrants exercised. b.行使认股权证。CStock options. C.股票期权 D. All of the above. d.以上所有。2. Multiple-choice question(1) Which information can be easily found from the annual report? ( ).A. Long-term debt.B. The income statement.C. Five-year summary of selected financial data.D. Notes to the financial statements.(2)According to income statement category, which of the following items appearon the operating profit?A. Depreciation expense. BAdvertising expense CInterest expenseDSelling and administrative expenses(3) Assuming a period of deflation, which statement is false?AThe FIFO method understates cost of goods sold on the income statement. BThe FIFO method understates balance sheet inventory. CThe LIFO method overstates balance sheet inventory. DThe LIFO method understates cost of goods sold on the income statement.(4)Which of the following would be classified as long-term debt?A. Current portion of long-term debt. .B. Accounts payable. CLong-term notes payable. D. Bonds due in 10 years.(5) Which of the following is not considered an MD&A?AHighlights of any favorable or unfavorable trends.BIdentification of significant events and uncertainties that affect a companys liquidity, capital resources and results of operations. CA year-by-year analysis. DAccounting principles and methods employed. .3. Case study (1) Use the following data to answer questions.RQM Corporation Selected Financial Data, December 31, 2x16Current asset $200000Current liabilities$150000Inventories $50000Accounts receivables$40000Net sales$1000000Cost of goods sold$750000(a). Calculate the RQMs current ratio and quick ratio.(b). Calculate the RQMs average collection period and inventory turnover.(2) SQ Corporation issues bonds with a face value of $100,000 and a coupon rateof 8% payable annually for a fixed term of five year at January 1, 2x16, at the sametime; it leases an asset which the estimated economic life is eight years withan expected salvage value of zero. The company depreciates this asset on a straight-line method. SQ agrees to keep a minimum lease payment of $3,500 paidat the end of each year and the leases term is six year. (Interest rate on this case is6% per year).(P/A, 6%, 5) =4.2124; (P/A, 6%, 6) = 4.917; (P/F, 6%, 5) = 0.7473(a) Calculate the total expenses on the income statement at the end of year 2x16, if SQ Corporation adopted the operating lease.(b) Calculate the ending liabilities on the balance sheet at the end of year 2x16, if SQCorporation adopted the capital lease.Company ACompany BMarket price at 31,Dec,2x16$ 30 per share$ 17 per shareNet earnings $ 9,394,000$ 5,910,000Average shares outstanding4,792,857 shares4,581,395 sharesQuestion: Compare the Company A with Company B by evaluating the Price to Earnings ratio. 比较评估市盈率公司与B公司。Question: If we want to buy a companys stock at the beginning of year at $40 per share, and we expected that received cash dividend $2 per share and sell stock at $48 per share at the end of the year, so the expected rate of return of this company is_ . A 25% B 30% C 45% D 50% Assuming a period of inflation, which statement is true?A The FIFO method understates balance sheet inventory. B The FIFO method understates cost of goods sold on the income statement.C The LIFO method overstates balance sheet inventory.D The LIFO method understates cost of good sold on the income statements. Accounting MethodCost of Goods Sold (Income Statement) 产品销售成本（损益表） Inventory Valuation (Balance sheet)存货计价（资产负债表）FIFO First Purchase Last Purchase (close of current cost)最后一次购买（现行成本接近）LIFO Last Purchase (close of current cost) First Purchase Which profit margin measures the overall operating efficiency of the firm? A Gross profit marginB Operating profit margin C Net profit margin D Return on equity4. On 1 Jan, 2x16, a company issues $100 of five-year bonds with a year-end interest (coupon) payment of 6% per annum. At the end of year, how much value this bond when the yield to maturity on these bonds is 8% per annum? JDL Corporation Selected Financial Data, December 31, 2x16Current assets $ 150,000Current liabilities 100,000Inventories 50,000Accounts receivable40,000Net sales 900,000Cost of goods sold675,000 Calculate the following ratios: current ratio,quick ratio, average collection period, inventory turnover.The F.L.A.C Corporation sells a single product. The following is information on inventory, purchases, and sales for current year: Number of units Units cost Sale priceJanuary 1 Inventory 10,000 $3.00January 10Purchase 4,000 3.50January 1- March 31Sales 8,000 $5.00April 25Purchase 10,000 4.00April 1- June 30 Sales 11,000 5.50July 10Purchase 6,000 4.50July 1- September 30Sales 3,000 6.00October 15 Purchases 8,000 5.00October 1- December 31Sales 9,000 6.50（1） Compute the inventory balance and the cost of goods sold expense reported at the end of the year using the following methods: FIFO