ACC 227 HW1
2. Distinguish between the indirect and direct methods of reporting net cash flows provided by (used in) operating activities.
3. How are depreciation and similar noncash items treated on a statement of cash flows?
4. Financial statement analysis can be used to identify a company's weak areas so that management can work toward improvement. Can financial statement analysis be used for any other purpose? Explain.
5. What is a common-size financial statement? What are its advantages?
6. What benchmarks can be used to add meaning to a computed financial ratio value?
7. Beehive Company had a beginning cash balance of $1,500. In addition, the company reported the following amounts of cash provided by (used in) each category of the statement of cash flows. Using the below information, compute the company's ending cash balance.
8. Assume all of the company's sales are on account. The accounts receivable balance at the beginning of the year was $512, and the ending balance was $481. During the year, the company had sales of $4,526. Compute the amount of cash collections on sales.
9. Using the following information and assuming that all inventory is purchased on account, compute cash paid for inventory:
Cost of goods sold
Inventory, beginning balance
Inventory, ending balance
Accounts payable, beginning balance
Accounts payable, ending balance
10. Using the following data, compute the debt ratio.
Long-Term Notes Payable
Market Value of Equity
Retained Earnings (ending)
Short-Term Notes Payable
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