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SOLUTION MANUAL FOR FINANCIAL ACCOUNTING FOR MANAGERS 1ST EDITION BY WAYNE THOMAS AND DAVID SPICELAND AND MARK NELSON $18.49
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SOLUTION MANUAL FOR FINANCIAL ACCOUNTING FOR MANAGERS 1ST EDITION BY WAYNE THOMAS AND DAVID SPICELAND AND MARK NELSON
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FINANCIAL ACCOUNTING FOR MANAGERS 1ST EDITION BY WAYNE THOMAS AND DAVID SPICELAND AND MARK NELSON CHAPTER 1 A FRAMEWORK FOR FINANCIAL ACCOUNTING REAL WORLD PERSPECTIVES RWP1-1 EDGAR Nike (ticker: NKE) Requirement 1 a. $23,717 million b. $9,040 million c. Total liabilities = Total assets �...

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Document information

  • November 22, 2024
  • 871
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • real world perspectives
  • brief exercises
  • financial accounting for managers 1st edition
  • a framework for financial accounting
  • the accounting cycle during the period
  • the accounting cycle end of the period

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  • FINANCIAL ACCOUNTING FOR MANAGERS 1ST EDITION BY W
  • FINANCIAL ACCOUNTING FOR MANAGERS 1ST EDITION BY W

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SOLUTION MANUAL FOR
FINANCIAL ACCOUNTING FOR MANAGERS 1ST EDITION BY WAYNE THOMAS
AND DAVID SPICELAND AND MARK NELSON


CHAPTER 1
A FRAMEWORK FOR FINANCIAL ACCOUNTING

REAL WORLD PERSPECTIVES

RWP1-1 EDGAR Nike (ticker: NKE)
Requirement 1
a. $23,717 million
b. $9,040 million
c. Total liabilities = Total assets – total shareholder’s equity
$23,717 – $9,040 = $14,677 million

Requirement 2
a. $39,117 million. Revenue increased from the previous year.
b. $4,029 million. Net income increased from the previous year.

Requirement 3
a. Operating cash flow = $5,903 million. Operating cash flow was more positive
than the previous year.
b. Investing cash flow = −$264 million. Investing cash flow went from positive to
negative from the previous year.
c. Financing cash flow = −$5,293 million. Financing cash flow was more negative
than the previous year.



RWP1-2 EDGAR Netflix Inc (ticker: NFLX)
Requirement 1
a. Average paying membership increased by 23% and average monthly revenue per
paying membership increased by 5%.
b. $2,795,434 / $20,156,447 = 13.9%
c. $2,652,462, 13% of revenues

Requirement 2
a. $9,801,215 / $24,504,567 = 40%
b. $33,141 million


©McGraw Hill LLC. All rights reserved. No reproduction or further distribution permitted without the prior written consent of McGraw Hill LLC
Solutions Manual, Chapter 5 5-1

,©McGraw Hill LLC. All rights reserved. No reproduction or further distribution permitted without the prior written consent of McGraw Hill LLC
5-2 Financial Accounting for Managers

,Requirement 3
a. $20,723,441. Long-term debt went up from the previous year.
b. $736,969

Requirement 4
9%

Requirement 5
a. Ernst & Young LLP
b. Yes



RWP1-3 EDGAR General Mills Inc. (ticker: GIS)
Requirement 1
First Quarter.

Requirement 2
August 26, 2018. The same quarter of last year is used as the comparison quarter.

Requirement 3
The quarterly report includes 15 notes.



RWP1-4 EDGAR Nordstrom Inc. (ticker: JWN)
Requirement 1
The COVID-19 pandemic.

Requirement 2
On March 23, 2020, the Company announced that it would be taking several steps in an abundance
of caution to proactively strengthen its financial flexibility and navigate through this unprecedented
situation. Specifically, the Company suspended its quarterly dividend beginning in the second
quarter of 2020, drew down $800 million on its Revolving Credit Facility, targeted further
reductions of more than $500 million in operating expenses, capital expenditures, and working
capital, and suspended share repurchases.




©McGraw Hill LLC. All rights reserved. No reproduction or further distribution permitted without the prior written consent of McGraw Hill LLC
Solutions Manual, Chapter 5 5-3

, RWP1-5 Financial Analysis: American Eagle
($ in thousands)

Requirement 1
Total assets = $3,328,679
Total liabilities = $2,080,826
Stockholders’ equity = $1,247,853

Assets = Liabilities + Stockholders’ Equity
$3,328,679 = $2,080,826 + $1,247,853

Requirement 2
Consolidated Statements of Operations

Requirement 3
Net sales = $4,308,212
Net income = $191,257


Requirement 4
Inflows Outflows
Investing activities Sale of available-for-sale Capital expenditures for
investments property and equipment
Financing activities Net proceeds from stock Repurchase of common stock
options exercised

Requirement 5
The company’s auditor is Ernst & Young LLP.

The auditor states, ―We have audited the accompanying consolidated balance sheets of American
Eagle Outfitters, Inc. (the Company) as of February 1, 2020 and February 2, 2019, the related
consolidated statements of operations, comprehensive income, stockholders’ equity and cash flows
for each of the three years in the period ended February 1, 2020, and the related notes (collectively
referred to as the ―consolidated financial statements‖). In our opinion, the consolidated financial
statements present fairly, in all material respects, the financial position of the Company at February
1, 2020 and February 2, 2019, and the results of its operations and its cash flows for each of the three
years in the period ended February 1, 2020, in conformity with U.S. generally accepted accounting
principles.‖




©McGraw Hill LLC. All rights reserved. No reproduction or further distribution permitted without the prior written consent of McGraw Hill LLC
5-4 Financial Accounting for Managers

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