Connect Access Card for Financial Accounting
9th Edition
ISBN: 9781259738678
Author: Robert Libby, Patricia Libby, Frank Hodge Ch
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 1, Problem 1.4E
Preparing a
Honda Motor Corporation of Japan is a leading international manufacturer of automobiles, motorcycles, all-terrain vehicles, and personal watercraft. As a Japanese company, it follows Japanese GAAP and reports its financial statements in billions of yen (the sign for yen is ¥). Its recent balance sheet contained the following items (in billions). Prepare a balance sheet as of March 31, current year, solving for the missing amount. (Hint: Exhibit 1.2 in the chapter provides a good model for completing this exercise.)
| Cash and cash equivalents | ¥ 1,279 |
| Common stock | 259 |
| Accounts payable and other current liabilities | 3,568 |
| Inventories | 900 |
| Investments | 640 |
| long-term debt | 2,043 |
| Net property, plant, and equipment | 1,939 |
| Other assets | 6,025 |
| Other liabilities | 1,377 |
| 4,324 | |
| Total assets | 11,571 |
| Total liabilities and stockholders’ equity | ? |
| Trade accounts, notes, and other receivables | 788 |
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Students have asked these similar questions
Honda Motor Corporation of Japan is a leading international manufacturer of automobiles, motorcycles, all-terrain vehicles, and
personal watercraft. As a Japanese company, it follows Japanese GAAP and reports its financial statements in billions of yen (the sign
for yen is *). A simplified version of its recent balance sheet contained the following items (in billions).
Cash and cash equivalents
Common stock
Accounts payable and other current liabilities
Inventories
Investments
Long-term debt
Net property, plant, and equipment
Other assets
Other liabilities
Retained earnings
Total assets
Total liabilities and stockholders' equity
Trade accounts, notes, and other receivables
Total assets
Total liabilities
HONDA MOTOR CORPORATION
Balance Sheet
Prepare a balance sheet as of March 31, current year, solving for the missing amount.
Note: Enter your answers in billions rather than in yen (for example, 5,000 billion should be entered as 5,000 rather than
5,000,000,000).
(in billions of Yen)…
Now suppose the following balance sheet shows BHZ Bank's position prior to its transaction with the Fed.
BHZ BANK (All values in millions of dollars)
Assets
Reserves
Deposits and other liabilities
Bonds and other investments
Shareholders' equity
Total Assets
1,100
Liabilities+ Shareholders' equity
1,100
After its transaction with the Fed is completed, show how BHZ Bank's balance sheet will look. (You must enter six integer values, one for each balance sheet item.)
BHZ BANK (All values in millions of dollars)
Total Assets
Assets
Reserves
Bonds and other investments
Enter any number in the edit fields and then click Check Answer.
200
900
Liabilities and Shareholders' Equity
400
500
900
Liabilities and Shareholders' Equity
Deposits and other liabilities
Shareholders' equity
Liabilities + Shareholders' equity
800
300
800
300
1100
Rotorua Products, Ltd., of New Zealand markets agricultural products for the burgeoning Asian consumer market. The company’s current assets, current liabilities, and sales have been reported as follows over the last five years (Year 5 is the most recent year):
image
$NZ stands for New Zealand dollars.
Required:
Express all of the asset, liability, and sales data in trend percentages. (Show percentages for each item.) Use Year I as the base year and carry computations to one decimal place.
Comment on the results of your analysis.
Chapter 1 Solutions
Connect Access Card for Financial Accounting
Ch. 1 - Define accounting.Ch. 1 - Briefly distinguish financial accounting from...Ch. 1 - Prob. 3QCh. 1 - Prob. 4QCh. 1 - Prob. 5QCh. 1 - Complete the following: Name of Statement...Ch. 1 - What information should be included in the heading...Ch. 1 - What are the purposes of (a) the income statement,...Ch. 1 - Explain why the income statement and the statement...Ch. 1 - Prob. 10Q
Ch. 1 - Prob. 11QCh. 1 - Explain the equation for the income statement....Ch. 1 - Explain the equation for the balance sheet. Define...Ch. 1 - Explain the equation for the statement of cash...Ch. 1 - Explain the equation for retained earnings....Ch. 1 - The financial statements discussed in this chapter...Ch. 1 - Prob. 17QCh. 1 - Prob. 18QCh. 1 - (Supplement A) Briefly differentiate between a...Ch. 1 - Prob. 20QCh. 1 - Which of the following is not one of the four...Ch. 1 - Prob. 2MCQCh. 1 - Prob. 3MCQCh. 1 - Which of the following regarding retained earnings...Ch. 1 - Which of the following is not one of the four...Ch. 1 - Prob. 6MCQCh. 1 - Prob. 7MCQCh. 1 - Which of the following is true regarding the...Ch. 1 - Prob. 9MCQCh. 1 - Prob. 10MCQCh. 1 - Matching Elements with Financial Statements M1-1...Ch. 1 - Matching Financial Statement Items to Financial...Ch. 1 - Prob. 1.3MECh. 1 - Prob. 1.1ECh. 1 - Matching Financial Statement Items to Financial...Ch. 1 - Matching Financial Statement Items to Financial...Ch. 1 - Preparing a Balance Sheet Honda Motor Corporation...Ch. 1 - Completing a Balance Sheet and Inferring Net...Ch. 1 - Prob. 1.6ECh. 1 - Preparing an Income Statement and Inferring...Ch. 1 - Prob. 1.8ECh. 1 - Inferring Values Using the Income Statement and...Ch. 1 - Inferring Values Using the Income Statement and...Ch. 1 - Preparing an Income Statement and Balance Sheet...Ch. 1 - Preparing an Income Statement and Balance Sheet...Ch. 1 - Preparing a Statement of Stockholders Equity...Ch. 1 - Focus on Cash Flows: Matching Cash Flow Statement...Ch. 1 - Preparing an Income Statement, Statement of...Ch. 1 - Analyzing a Student's Business and Preparing an...Ch. 1 - Comparing Income with Cash Flow (Challenging)...Ch. 1 - Evaluating Data to Support a Loan Application...Ch. 1 - Preparing an Income Statement, Statement of...Ch. 1 - Analyzing a Students Business and Preparing an...Ch. 1 - Prob. 1.3APCh. 1 - Prob. 1.1CONCh. 1 - Finding Financial Information LO1-1 Refer to the...Ch. 1 - Prob. 1.2CPCh. 1 - Comparing Companies within an Industry Refer to...Ch. 1 - Using Financial Reports: Identifying and...Ch. 1 - Prob. 1.5CPCh. 1 - Prob. 1.6CPCh. 1 - Prob. 1.7CP
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