재무회계 Ch1-3 과제
(1) Quetion 1-31
Answer
\((a)\) \(net\; income=66387-62313=4,074million\$\)
\(net\; cash\;flow=65995-56411=9,584million\$\)
\((b)\) If customer buy a product of Hewston and want to pay later, then Hewston get a certain amount of revenue but get no cash. Instead, Hewston get a asset, namely accrued revenue, that will be paid for cash.
In that case, a company can get revenues more than collected cash.
\((c)\) If Hewston buy material from suppliers and vendors to produce its own products but want to pay after selling product, then there exists a certain amount of expense and occurs a liability, namely accrued expense, that will pay for cash.
In that case, a company’s expenses is bigger than its cash payments.
(2) Quetion 1-34
Answer
Total Assets = Current Assets + Noncurrent Assets
Total Liabilities = Current Liabilities + Noncurrent Liabilities
Total Liabilities and Shareholders’ Equity = Total Liabilities + Shareholders’ Equity
And, Total Assets = Total Liabilities and Shareholders’ Equity
Apply above,
| Category | 2013 | 2012 |
|---|---|---|
| Total Assets | 7,199,847 | 5,450,838 |
| Current Liabilities | 4,488,461 | 3,527,504 |
| Current Assets | 4,705,366 | 3,062,449 |
| Total Liabilities and Shareholders’ Equity | 7,199,847 | 5,450,838 |
| Noncurrent Liabilities | 1,098,123 | 789,058 |
| Shareholders’ Equity | 1,613,263 | 1,134,276 |
| Noncurrent Assets | 2,494,481 | 2,388,389 |
| Total Liabilities | 5,586,594 | 4,316,562 |
(3) Quetion 2-10
Answer
\((a)\)
| Transaction Number | Assets | = | Liabilities | + | Shareholder’s Equity |
|---|---|---|---|---|---|
| (1) | +$960m | $0 | +$960m | ||
| (2) | +$1,500m | +$1,500m | $0 | ||
| (3) | +$3,200m +$930m -$4,130m | $0 | $0 | ||
| (4) | +$860m | +$860m | $0 | ||
| (5) | -$1,500m | -$1,500m | $0 | ||
| (6) | -$430m +$430m -$430m | -$430m -$430m | +$430m | ||
| Total | $1,390m | = | $0 | + | $1,390m |
\((b)\)
| Transaction Num. (1) | Debit | Credit |
|---|---|---|
| Cash | $960m | |
| Common stock | $1.7m | |
| Additional capital | $958.3m |
| Transaction Num. (2) | Debit | Credit |
|---|---|---|
| Inventory | $1,500m | |
| Payable | $1,500m |
| Transaction Num. (3) | Debit | Credit |
|---|---|---|
| Building | $3,200m | |
| Landscape | $930m | |
| Cash paid | $4,130m |
| Transaction Num. (4) | Debit | Credit |
|---|---|---|
| Fixture | $860m | |
| Payable | $860m |
| Transaction Num. (5) | Debit | Credit |
|---|---|---|
| Payable | $1,500m | |
| Cash | $1,500m |
| Transaction Num. (6) | Debit | Credit |
|---|---|---|
| Payable | $430m | |
| Cash paid | $430m | |
| Cash | $430m | |
| Common stock | $0.7m | |
| Additional capital | $429.3m | |
| Payable | $430m | |
| Cash paid | $430m |
(4) Quetion 3-12
Answer
\((a)\)
\[Accounts\,Receivable\,in\,Jan.+288,951-289,623=38,020\]
\[Accounts\,Receivable\,in\,Jan.=\$38,692\]
\((b)\) \[2,635+10,442-Payments\,to\,Gov.=3,282\]
\[Payments\,to\,Gov.=\$9,795\]
\((c)\)
\[42,236+15,162-Payments\,to\,suppliers=43,152\]
\[Payments\,to\,suppliers=\$14,246\]
\((d)\)
\[88,453+21,169-8,106=Retained\,Earnings\,in\,Dec.\]
\[Retained\,Earnings\,in\,Dec.=\$101,516\]