Financial Accounting
5th Edition
ISBN: 9781618531650
Author: Thomas Dyckman
Publisher: Cambridge Business Publishers
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Chapter 1, Problem 22ME
To determine
State the amounts of assets, liabilities, and equity of Company A at September 27, 2014 and describe whether the
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A Financial Analysis Statement
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Analyze your company’s liability section of the comparative balance sheets. Has the composition of current and long-term liabilities changed significantly over the period?
Explain?
Liabilities and Equity sections of Walmart's Balance Sheet
As of January 31,
(Amounts in millions)
2019
2018
LIABILITIES AND EQUITY
Current liabilities:
Short-term borrowings
$ 5,225
$ 5,257
Accounts payable
47,060
46,092
Accrued liabilities
22,159
22,122
Accrued income taxes
428
645
Long-term debt due within one year
1,876
3,738
Capital lease and financing obligations due within one year
729
667
Total current liabilities
77,477
78,521
Long-term debt
43,520
30,045
Long-term capital lease and financing obligations
6,683
6,780
Deferred income taxes and other
11,981
8,354
Total liabilities
139,661
123,700
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Prepare the required financial
statements for Metro Company
Assume you are an analyst evaluating Metro Company. The following data are available in your financial
analysis (unless otherwise indicated, all data are as of December 31, 2015): - 50 points
Retained earnings, 12/31/2014
Gross profit margin ratio
Day's sales in inventory
Acid-test ratio
Non current assets
Day's sales in receivables
Shareholder's equity to total debt
Sales (all on credit)
Common stock $15 par value; 10,000 shares issued and outstanding; issued at $21 per share.
$98,000
25%
45 days
2.5 times
$280,000
18 days
4 to 1
$920,000
Using these data, construct the December 31, 2015 balance sheet for your analysis. Operating expenses
(excluding taxes and cost of goods sold for 2015) are $180,000. The tax rate is 40%. Assume a 360-day
year in ratio computations. Current assets consist of cash, accounts receivable, and inventories.
Your answer
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Chapter 1 Solutions
Financial Accounting
Ch. 1 - Prob. 1MCCh. 1 - Prob. 2MCCh. 1 - Prob. 3MCCh. 1 - Prob. 4MCCh. 1 - Prob. 5MCCh. 1 - Prob. 1QCh. 1 - Prob. 2QCh. 1 - Prob. 3QCh. 1 - Prob. 4QCh. 1 - Prob. 5Q
Ch. 1 - Prob. 6QCh. 1 - Prob. 7QCh. 1 - Prob. 8QCh. 1 - Prob. 9QCh. 1 - Prob. 10QCh. 1 - Prob. 11QCh. 1 - Prob. 12QCh. 1 - Prob. 13QCh. 1 - Prob. 14QCh. 1 - Prob. 15QCh. 1 - Prob. 16QCh. 1 - Prob. 17QCh. 1 - Prob. 18QCh. 1 - Prob. 19MECh. 1 - Prob. 20MECh. 1 - Prob. 21MECh. 1 - Prob. 22MECh. 1 - Prob. 24MECh. 1 - Prob. 25MECh. 1 - Prob. 26MECh. 1 - Prob. 27ECh. 1 - Prob. 28ECh. 1 - Prob. 29ECh. 1 - Prob. 30ECh. 1 - Prob. 31ECh. 1 - Prob. 32ECh. 1 - Prob. 33ECh. 1 - Prob. 34ECh. 1 - Prob. 35ECh. 1 - Prob. 36PCh. 1 - Prob. 37PCh. 1 - Prob. 38PCh. 1 - Prob. 39PCh. 1 - Prob. 40PCh. 1 - Prob. 41PCh. 1 - Prob. 42PCh. 1 - Prob. 43PCh. 1 - Prob. 44PCh. 1 - Prob. 45PCh. 1 - Prob. 46CPCh. 1 - Prob. 47CPCh. 1 - Prob. 48CPCh. 1 - Prob. 49CPCh. 1 - Prob. 50CP
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