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TEST BANK FOR FINANCIAL ACCOUNTING FOR MANAGERS 1ST EDITION BY WAYNE THOMAS AND DAVID SPICELAND AND MARK NELSON

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Institution FINANCIAL ACCOUNTING
Course FINANCIAL ACCOUNTING
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TEST BANK FOR FINANCIAL ACCOUNTING FOR MANAGERS 1ST EDITION BY WAYNE THOMAS AND DAVID SPICELAND AND MARK NELSON TEST BANK FOR FINANCIAL ACCOUNTING FOR MANAGERS 1ST EDITION BY WAYNE THOMAS AND DAVID SPICELAND AND MARK NELSON

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TEST B ANK FOR kx kx kx


FINANCIALkxACCOUNTINGkxFORkxMANAGERSkx1STkxEDITIONkxBYkxWAYNEkxTHO
MASkA
x NDkxDAVIDkxSPICELANDkxANDkxMARKkxNELSON




CHAPTER 1 kx




kx A FRAMEWORK FOR FINANCIAL ACCOUNTING
kx kx kx kx




REAL WORLD PERSPECTIVES
kx kx kx




RWP1-1 EDGAR Nike (ticker: NKE)
kx kx kx kx




Requirementkx1
a. $23,717kxmillion
b. $9,040kxmillion
c. Totalkxliabilitieskx=kxTotalkxassetskx–
kxtotalkxshareholder’skxequity

$23,717kx–kx$9,040kx=kx$14,677kxmillion

Requirementkx2
a. $39,117kxmillion.kxRevenuekxincreasedkx fromkxthekxpreviouskxyear.
b. $4,029kxmillion.kxNetkxincomekxincreasedkxfromkxthekxpreviouskxyea
r.

Requirementkx3
a. Operatingkxcashkxflowkx=kx$5,903kxmillion.kxOperatingkxcashkxflowkxwaskxmorekxpositiv
e
thankxthekxpreviouskxyear.
b. Investingkxcashkxflowkx=kx−$264kxmillion.kxInvestingkxcashkxflowkxwentkxfromkxpositivek
xtok
n
x egativekxfromkxthekxpreviouskx year.

c. Financingkxcashkxflowkx=kx−$5,293kxmillion.kxFinancingkxcashkxflowkxwaskxmorekxnegati
ve
thankxthekxpreviouskxyear.



RWP1-2 EDGAR Netflix Inc (ticker: NFLX)
kx kx kx kx kx




Requirementkx1
a. Averagekxpayingkxmembershipkxincreasedkxbykx23%kxandkxaveragekxmonthlykxrevenuekxp
er
payingkxmembershipkxincreasedkxbykx5%.
b. $2,795,434kx/kx$20,156,447kx=kx13.9%
c. $2,652,462,kx13%kxofkxrevenues

Requirementkx2
©McGrawkxHillkxLLC.kxAllkxrightskxreserved.kxNokxreproductionkxorkxfurtherkxdistributionkxpermittedkxwithoutkxthekxpriorkxwrittenkxconsentkxofkxMcGrawkx
HillkxLLC kxManual,k x Chapter
Solutions 5-1
kx 5

, a. $9,801,215kx/kx$24,504,567kx=kx40%
b. $33,141kxmillion




©McGrawkxHillkxLLC.kxAllkxrightskxreserved.kxNokxreproductionkxorkxfurtherkxdistributionkxpermittedkxwithoutkxthekxpriorkxwrittenkxconsentkxofkxMcGra
wkxHillkxLLC
5-2 FinancialkxAccountingkxforkxManage
rs

,©McGrawkxHillkxLLC.kxAllkxrightskxreserved.kxNokxreproductionkxorkxfurtherkxdistributionkxpermittedkxwithoutkxthekxpriorkxwrittenkxconsentkxofkxMcGrawkx
HillkxLLC kxManual,k x Chapter
Solutions 5-3
kx 5

, Requirementkx3
a. $20,723,441.k x Long-
termkxdebtkxwentkxupkxfromkxthekxpreviouskxyear.
b. $736,969

Requirementkx4
9%

Requirementkx5
a. Ernstkx&kxYoungkxLLP
b. Yes



RWP1-3 EDGAR General Mills Inc. (ticker: GIS)
kx kx kx kx kx kx

Requirementkx1
FirstkxQuarter.

Requirementkx2
Augustkx26,kx2018.k x Thekxsamekxquarterkxofkxlastkxyearkx iskxusedkxaskxthekxcomparisonkxquarter.

Requirementkx3
Thekxquarterlykxreportkxincludeskx15kxnotes.



RWP1-4 EDGAR Nordstrom Inc. (ticker: JWN)
kx kx kx kx kx




Requirementkx1
ThekxCOVID-19kxpandemic.

Requirementkx2
OnkxMarchkx23,kx2020,kxthekxCompanykxannouncedkxthatkxitkxwouldkxbekxtakingkxseveralkxstepskxinkxankxabun
dancekxofkxcautionkxtokxproactivelykxstrengthenkxitskxfinancialkxflexibilitykxandkxnavigatekxthroughkxthiskxunpr
ecedentedkxsituation.kxSpecifically,kxthekxCompanykxsuspendedkxitskxquarterlykxdividendkxbeginningkxinkxth
ekxsecondkxquarterkxofkx2020,kxdrewkxdownkx$800kxmillionkxonkxitskxRevolvingkxCreditkxFacility,kxtargetedkxf
urtherkxreductionskxofkxmorekxthankx$500kxmillionkxinkxoperatingkxexpenses,kxcapitalkxexpenditures,kxandkxw
orkingkxcapital,kxandkxsuspendedkxsharekxrepurchases.




©McGrawkxHillkxLLC.kxAllkxrightskxreserved.kxNokxreproductionkxorkxfurtherkxdistributionkxpermittedkxwithoutkxthekxpriorkxwrittenkxconsentkxofkxMcGra
wkxHillkxLLC
5-4 FinancialkxAccountingkxforkxManage
rs

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