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标题: FSA: Assets 财务报告分析：资产－相关习题6 [打印本页]

作者: cfaspace 时间: 2006-4-27 16:39 标题: 每天一练：FSA: Assets 财务报告分析：资产－相关习题6

Selected information from Leeward Company’s financial statements for the year ended December 31, 2001, is as follows (in $):

Cash	3,000,000	Accounts Payable	1,800,000
Accounts Receivable	3,400,000	Deferred Tax Liability	1,200,000
Inventory	6,300,000	Long-term Debt	12,500,000
Property, Plant & Eq.	15,200,000	Common Stock	2,000,000
Total Assets	27,900,000	Retained Earnings	10,400,000
LIFO Reserve Jan. 1	1,600,000	Total Liab. & Equity	27,900,000
LIFO Reserve Dec. 31	2,100,000

Leeward uses the last in, first out (LIFO) inventory cost flow assumption. The tax rate is 40 percent. If Leeward changed from LIFO to first in, first out (FIFO), the total debt-to-total equity ratio will:

A)	increase from 1.25 to 1.32.
B)	decrease from 1.25 to 1.16.
C)	decrease from 1.25 to 1.20.
D)	remain unchanged at 1.25.

C
Total debt to total equity under LIFO is ($1,800,000 + $1,200,000 + $12,500,000) / ($2,000,000 + $10,400,000) =) 1.25. If Leeward uses FIFO, on the asset side, Inventory will increase by the amount of the ending LIFO reserve ($2,100,000). On the liabilities and equity side, Deferred Tax Liability will increase by the ending LIFO reserve times the tax rate ($2,100,000 * 0.4 =) $840,000. Retained Earnings will increase by the ending LIFO reserve times (1 – tax rate), which is (($2,100,000) (1 – 0.4) =) $1,260,000. Leeward’s total debt to total equity ratio under FIFO will be ($1,800,000 + $1,200,000 + $840,000 + $12,500,000) / (($2,000,000 + $10,400,000 + $1,260,000) =) 1.20.

作者: bbanana 时间: 2006-4-28 22:36

thanks

作者: coolcobra 时间: 2006-5-2 23:23

zz

作者: yingrid 时间: 2006-5-3 07:30

thanks

作者: ypat2002 时间: 2006-5-3 20:54

C)	decrease from 1.25 to 1.20

作者: yangdr 时间: 2006-5-12 21:32

c

作者: aqsz 时间: 2006-6-19 13:57

a

作者: landcruser 时间: 2006-6-20 17:21

C

作者: 可乐加冰 时间: 2006-7-13 20:37

看看

作者: ikyle 时间: 2006-7-16 19:55

xks

作者: ikyle 时间: 2006-7-16 19:55

xuexi

作者: ikyle 时间: 2006-7-16 19:56

[em01][em01][em01]

作者: simb 时间: 2006-7-19 09:09

GOOD

作者: lizayu 时间: 2006-7-19 17:39

thanks

作者: rickluoy 时间: 2006-7-24 15:14

d

作者: jerry732 时间: 2006-8-7 15:29

[em04]

作者: caphen 时间: 2006-8-16 13:09

c

作者: hwq70823 时间: 2006-10-1 16:39

v

作者: pippi 时间: 2006-10-6 22:07 标题: 回复：（cfaspace）每天一练：FSA: Assets 财务报告分...

5733[em04]

作者: fengzhong 时间: 2006-10-29 23:49

buhuile

作者: zyx8318 时间: 2006-10-30 10:35

c

作者: alanliu7 时间: 2006-10-30 22:22

c

作者: abner_wang 时间: 2006-11-8 20:11

c

作者: game_four 时间: 2006-11-16 09:25 标题: n

n

作者: peiheng 时间: 2006-11-16 17:39 标题: c

c

作者: oasising 时间: 2006-11-16 21:32

c

作者: arliruja 时间: 2006-11-17 11:53

fgh

作者: manata 时间: 2006-11-18 16:42

see

作者: pwjsjd 时间: 2006-11-19 00:08

re

作者: caca 时间: 2006-11-20 23:22

d

作者: diudiu 时间: 2007-4-4 07:47

thx

作者: winnerinea 时间: 2007-4-8 18:30

should not be a and d.

作者: fh_ao 时间: 2007-4-18 11:47

B)	decrease from 1.25 to 1.16.

作者: stagqub 时间: 2007-4-18 12:38

c

作者: gulie 时间: 2007-4-18 14:54

b

作者: hortance 时间: 2007-4-19 04:46

c

作者: alexpeter 时间: 2007-4-19 16:44

3x

作者: alexpeter 时间: 2007-4-19 16:56

thanks

作者: lancelotyu 时间: 2007-5-24 22:01

no idea

作者: x-stephon 时间: 2007-5-28 22:19

d

作者: cotobt 时间: 2007-6-20 12:56

看

作者: coolzjh 时间: 2007-6-26 13:47

a

作者: caoli577 时间: 2007-6-28 11:07

1.22

作者: slava_xu 时间: 2007-9-27 15:56

t

作者: 路西菲尔 时间: 2007-9-28 10:38

C

作者: 盘子 时间: 2007-10-16 17:25

看

作者: terryquinn 时间: 2007-10-17 03:59

[em02]

作者: yuyi1981 时间: 2007-11-7 06:48

1

作者: wangxud 时间: 2007-11-7 07:15

ting

作者: secret1616 时间: 2007-11-8 16:22

c

作者: xu7431 时间: 2007-11-8 17:04

c

作者: fionzheng 时间: 2008-4-16 14:33

d

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