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FSA

EXERCISES
ACC08

1 CHANGE IN CASH FLOWS


Determine the increase or decrease in cash for Rinky Supply
Company for last year, given the following information. (Assume no
other changes occurred during the past year.)
REQUIREMENTS:
Decrease in
= P25
(1)Compute for CF from
marketable securities
operations
Increase in accounts
= P50
receivables
(2)Compute for CF from investing
Increase in notes
= P30
(3)Compute for CF from financing
payable
Decrease in accounts
payable
Increase in accrued
wages and taxes
Increase in
inventories
Retained earnings

= P20
= P15
= P35
= P5

2
STATEMENT
OF CASH
FLOWS
Axtel
retired stock for P1,000,000
and paid
a dividend of
P1,727,000. Depreciation for the year was P1,166,000. Construct
a Statement of Cash Flows for Axtel for 2001. (Hint: Retiring
stock means buying it back from shareholders. Assume the
purchase was made at book value, and treat it like a negative sale
AXTEL COMPANY

of stock.)
Balance Sheet

LIABILITI

Sales
COGS
Gross
Margin
Expense

P36,227
19,925
P16,302
P10,868

EBIT
Interest

P5,434
713

EBT
Tax
Net
Income

P4,721
1,605
P3,116

For the period ended


12/31/X1
(P000)

ASSETS
AXTEL
12/31/X0
COMPANY
INCOME
STATEMENT
Cash
P3,514
Accounts
6,742
Receivable
Inventory
2,573
CURRENT
P12,829
ASSETS

Fixed Assets

Gross
P22,478
Accum.
Depreciation
Net

12/31/X
1
P2,875
5,583

3,220
P11,67
8

P24,36
0
(12,147) (13,313
)
P10,331 P11,04
7

ES
P1,556

Accounts
Payable
Accruals
268
CURRENT
P1,824
LIABILITIES

Long-Term
P 7,112
Debt
Equity
14,224
TOTAL CAPITAL P21,336

TOTAL

LIABILITIES
P23,160
AND
EQUITY

P1,702
408
P2,110

P 6,002
14,613
P20,615

P22,725

3 CASH FLOW AND STRATEGY

The Seymour Corp attempted to


increase sales rapidly in 20X1 by
offering a new, low cost product
line designed to appeal to credit
customers in relatively poor financial
condition. The company sold no new
stock during the year but paid
dividends of P3,000,000. Depreciation
for the year was P7,851,000, and no
fixed assets were retired or sold..
Does it look like Seymour may be
headed for financial trouble?
Explain the possible implications
of the new product and credit
strategy on individual accounts.

Seymour got over P14 million in


cash from earnings. It also
borrowed almost P12 million
formally, and effectively increased
its borrowing from suppliers
(payables) by about P3 million. All
these totaled just under P29
million.
Net Income
6,227
Depreciation
7,851
Subtotal
14078
Increase in debt
11,638
Increase in payables
3,193

4 COMMON SIZE STATEMENTS

Linden Corp. has a 10% market share in its industry. Below are the
common size income statements (PM) for Linden and for the industry.

Linden
Sales
P6,000
Cost of Goods Sold
3,200

%
Industry
100.0 P64,000
53.3 33,650

Gross Margin

47.7 30,350

%
100.0

52.6
2,800

47.4
Expenses:
Sales and Marketing430
7.2 3,850
Engineering
225
3.8 2,650
Finance ,Admin 650
10.8 4,560
7.1
Total Expenses
1,305
21.8 11,060

6.0
4.1
17.2

EBIT
1,495
Interest Expense 230
EBT
1,265

24.9 19,290
3.8 4,500
21.1 14,790

30.1
7.0
23.1

TREND ANALYSIS
Study the following selected unrelated groups of a Department Store data and
point out the favorable or unfavorable tendencies:

Receivable, net (Pesos)


Trend (%)

Year 1 Year 2
Year 3
Year 4
Year 5
75,150
88,270
90,340
98,340 100,900
100 ????
117 ????
120 ????
131 ????
134

Inventory (Pesos)
Trend (%)

52,330
100

Fixed Assets, net (Pesos)

271,42 275,310 290,440 292,670 287,310


0
100 ????
102 ????
107 ????
108 ????
106

Trend (%)
Net Sales
Trend (%)
Net Income
Trend (%)

59,280

99,670 120,240 151,400

????
113 ????
190 ????
230 ????
289

280,91 291,680 295,810 380,470 540,110


0
100 ????
104 ????
105 ????
133 ????
190
31,150
100

38,130

36,360

51,670

82,260

????
122 ????
117 ????
166 ????
260