FINE 2000 Lecture Notes - Progressive Tax, Corporate Tax, Capital Gains Tax

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coffeeduck671

24 May 2012

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Financial statement that shows the value of the firm"s assets and liabilities at a particular time. Current assets: some assets can be turned into cash more easily= liquid assets (put most liquid at top of the list and works down) Items in balance sheet are valued according to generally accepted accounting principles (gaap). This states that assets must be shown in the balance sheet at their historical cost adjusted for depreciation. Book values: backward looking measures of value. Difference between book and market value vary depending on the asset>> fixed asset the difference could be large and difference is likely to be largest with shareholders equity. The book value of equity measures the cash that shareholders have contributed in the past plus the cash that the company has retained and reinvested in the business on their behalf. But this often bares little resemblance to the total market value that investors place on the shares.

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Please discuss and explain Apple Inc. Balance sheet

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Balance Sheet

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View: Annual Data | Quarterly Data

All numbers in thousands

Period Ending		Jun 27, 2015	Mar 28, 2015	Dec 27, 2014	Sep 27, 2014

Assets
Current Assets
	Cash And Cash Equivalents	15,319,000	14,489,000	19,478,000	13,844,000
	Short Term Investments	19,384,000	18,607,000	12,985,000	11,233,000
	Net Receivables	24,917,000	23,305,000	35,022,000	31,537,000
	Inventory	2,042,000	2,396,000	2,283,000	2,111,000
	Other Current Assets	9,291,000	9,094,000	13,635,000	9,806,000

Total Current Assets		70,953,000	67,891,000	83,403,000	68,531,000
Long Term Investments		168,145,000	160,443,000	145,492,000	130,162,000
Property Plant and Equipment		21,149,000	20,151,000	20,392,000	20,624,000
Goodwill		5,044,000	4,711,000	4,629,000	4,616,000
Intangible Assets		3,779,000	4,061,000	4,370,000	4,142,000
Accumulated Amortization		-	-	-	-
Other Assets		4,081,000	3,937,000	3,608,000	3,764,000
Deferred Long Term Asset Charges		-	-	-	-

Total Assets		273,151,000	261,194,000	261,894,000	231,839,000

Liabilities
Current Liabilities
	Accounts Payable	49,198,000	45,986,000	60,725,000	48,649,000
	Short/Current Long Term Debt	6,999,000	3,799,000	3,899,000	6,308,000
	Other Current Liabilities	9,088,000	8,944,000	8,987,000	8,491,000

Total Current Liabilities		65,285,000	58,729,000	73,611,000	63,448,000
Long Term Debt		47,419,000	40,072,000	32,504,000	28,987,000
Other Liabilities		31,296,000	29,816,000	28,971,000	24,826,000
Deferred Long Term Liability Charges		3,474,000	3,571,000	3,480,000	3,031,000
Minority Interest		-	-	-	-
Negative Goodwill		-	-	-	-

Total Liabilities		147,474,000	132,188,000	138,566,000	120,292,000

Stockholders' Equity
Misc Stocks Options Warrants		-	-	-	-
Redeemable Preferred Stock		-	-	-	-
Preferred Stock		-	-	-	-
Common Stock		26,327,000	25,376,000	24,187,000	23,313,000
Retained Earnings		98,252,000	100,920,000	97,178,000	87,152,000
Treasury Stock		-	-	-	-
Capital Surplus		-	-	-	-
Other Stockholder Equity		1,098,000	2,710,000	1,963,000	1,082,000

Total Stockholder Equity		125,677,000	129,006,000	123,328,000	111,547,000

Net Tangible Assets		116,854,000	120,234,000	114,329,000	102,789,000

ambercockroach91

Balance Sheet

ASSETS:

Cash and Marketable Securities: $75.00

Accounts Receivable: $100.00

Inventories: $200.00

TOTAL CURRENT ASSETS: $375.00

Gross Property, Plant and Equipment: (blank)

less Accumulated Depreciation: $50.00

NET FIXED ASSETS: (blank)

TOTAL ASSETS: (blank)

LIABILITIES AND EQUITY:

Accounts Payable: $75.00

Notes Payable: (blank)

Accruals: $75.00

TOTAL CURRENT LIABILITIES: $300.00

Long Term Debt: $350.00

TOTAL LIABILITIES: $650.00

PREFERRED STOCK: (blank)

Common Stock: $50.00

Accumulated Retained Earnings: $125.00

COMMON EQUITY: $175.00

TOTAL LIABILITIES AND EQUITY: $875.00

1. Consider the balance sheet above:

A. What is the value for total assets?

B. What is the value for net fixed assets?

C. What is the value for gross, property, plant andequipment?

D. What is the value for notes payable?

E. What is the value for preferred stock?

Thank you in advance!!

greyotter602

The assets of Dallas & Associates consist entirely of current assets and net plant and equipment. The firm has total assets of $2.6 million and net plant and equipment equals $2.1 million. It has notes payable of $155,000, long-term debt of $855,000, and total common equity of $1.55 million. The firm does have accounts payable and accruals on its balance sheet. The firm only finances with debt and common equity, so it has no preferred stock on its balance sheet.

Write out your answers completely. For example, 25 million should be entered as 25,000,000.

What is the amount of total liabilities and equity that appears on the firm's balance sheet?

What is the balance of current assets on the firm's balance sheet?

What is the balance of current liabilities on the firm's balance sheet?

What is the amount of accounts payable and accruals on its balance sheet? [Hint: Consider this as a single line item on the firm's balance sheet.]

What is the firm's net working capital?

What is the firm's net operating working capital?

What is the monetary difference between your answers to part e and f?

scarletrabbit6

FINE 2000 Lecture Notes - Progressive Tax, Corporate Tax, Capital Gains Tax

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