Courtney, K_MBA 6014Unit3_P5-3
CP5-2 Finding Financial Information LO5-2, 5-3
Refer to the financial statements of Urban Outfitters given in Appendix
... [Show More] C at the end of this book. company warns readers that “The accompanying notes are an integral part of these financial stat illustrate the types of information that you can find in the financial statements and accompanyin
Required:
1. What subtotals does Urban Outfitters report on its income statement?
2. The company spent $190,010,000 on capital expenditures (property, plant, and equipment) during the most recent year. Were operating activities or financing activities the major source
3. What was the company's largest asset (net) at the end of the most recent year?
4. How does the company account for costs associated with developing its websites?
5. Over what useful lives are buildings depreciated?
6. What portion of gross “Property and Equipment” is composed of “Buildings”?
7. Compute the company's gross profit percentage for the most recent two years. (Dollars in th
Year Ended Gross Profit / Net Sales = Gross Profit %
2012 $ 860,536 $ 2,473,801 34.8%
2011 936,620 2,274,102 41.2%
Has it risen or fallen? Explain the meaning of the change.
At the bottom of each statement, the ements.” The following questions
g notes. (Hint: Use the notes.)
and $169,467,000 purchasing investments of cash for these expenditures?
ousands.)
P5-3 Preparing a Balance Sheet and Analyzing Some of Its Parts LO5-3
Exquisite Jewelers is developing its annual financial statements for 2015. The following amounts were cor
cash, $58,000; accounts receivable, $71,000; merchandise inventory, $154,000; prepaid insurance, $1,500 investment in stock of Z corporation (long-term), $36,000; store equipment, $67,000; used store equipme accumulated depreciation, store equipment, $19,000; accounts payable, $52,500; long-term note payable retained earnings, $164,000; and common stock, 100,000 shares outstanding, par value $1.00 per share (
Required:
1 Based on these data, prepare a December 31, 2015, balance sheet. (Amounts to be deducted Possible input areas are shaded.
EXQUISITE JEWELERS
Balance Sheet
December 31, 2015
Assets
Current assets:
Cash 58,000
Accounts receivable 71,000
Merchandise inventory 154,000
Prepaid insurance 1,500
Total current assets $ 284,500
Long-term investments:
Investment in Z Corporation 36,000
Fixed assets:
Accumulated depreciation 19,000 48,000
Store equipment 67,000
Total fixed assets $ 86,000
Other assets:
Used store equipment held for disposal 9,000
Total assets $ 415,500
Liabilities
Current liabilities:
Accounts payable 52,500
Income taxes payable 9,000
Total current liabilities $ 61,500
Long-term liabilities:
Note payable 42,000
Total liabilities $ 103,500
Stockholders' Equity
Contributed capital:
Common stock 100,000
Additional paid-in capital 10,000
Total contributed capital $ 110,000
Retained earnings 164,000
Total stockholders' equity $ 274,000
Total liabilities and stockholders' equity $ 377,500
Required:
2 What is the net book value of the store equipment?
rect at December 31, 2015:
;
nt held for disposal, $9,000;
, $42,000; income taxes payable, $9,000; originally sold and issued at $1.10 per share).
should be indicated by a minus sign.)
P5-3 Preparing a Balance Sheet and Analyzing Some of Its Parts LO5-3
Exquisite Jewelers is developing its annual financial statements for 2015. The following amounts were correct
cash, $58,000; accounts receivable, $71,000; merchandise inventory, $154,000; prepaid insurance, $1,500; investment in stock of Z corporation (long-term), $36,000; store equipment, $67,000; used store equipment he accumulated depreciation, store equipment, $19,000; accounts payable, $52,500; long-term note payable, $42 retained earnings, $164,000; and common stock, 100,000 shares outstanding, par value $1.00 per share (origin
Required:
1 Based on these data, prepare a December 31, 2015, balance sheet. (Amounts to be deducted sho Possible input areas are shaded.
EXQUISITE JEWELERS
Balance Sheet
December 31, 2015
Assets
Current assets:
Total current assets $ -
Long-term investments:
Fixed assets:
Total fixed assets -
Other assets:
Total assets $ 377,500
Liabilities
Current liabilities:
Total current liabilities $ -
Long-term liabilities:
Total liabilities -
Stockholders' Equity
Contributed capital:
Total contributed capital -
Total stockholders' equity -
Total liabilities and stockholders' equity $ -
Required:
2 What is the net book value of the store equipment?
at December 31, 2015:
ld for disposal, $9,000;
,000; income taxes payable, $9,000; ally sold and issued at $1.10 per share).
uld be indicated by a minus sign.) [Show Less]
