Solutions Manual for Accounting for Managers 1st (Canadian Edition) By Paul Collier Sandy Kizan Eckhard Schumann (All Chapters, 100% Original Verified, A+ Grade)

SOLUTION MANUAL FOR g g




FINANCIAL ACCOUNTING FOR MANAGERS 1ST EDITION BY WAYNE THOMAS
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AND DAVID SPICELAND AND MARK NELSON
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CHAPTER 1 g




A FRAMEWORK FOR FINANCIAL ACCOUNTING
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g REAL WORLD PERSPECTIVES g g




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




Requirement 1 g




a. $23,717 million g




b. $9,040 million g




c. Total liabilities = Total assets – total shareholder’s
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equity
g




$23,717 – $9,040 = $14,677 million g g g g g




Requirement 2 g




a. $39,117 million. Revenue increased from the previous
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year.g




b. $4,029 million. Net income increased from the previous
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year.g




Requirement 3 g




a. Operating cash flow = $5,903 million. Operating cash flow was more
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positive
g




than the previous year.
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b. Investing cash flow = −$264 million. Investing cash flow went from
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positive tonegative from the previous year.
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c. Financing cash flow = −$5,293 million. Financing cash flow was more
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negative
g




than the previous year.
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RWP1-2 EDGAR Netflix Inc (ticker: NFLX)
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Requirement 1 g




a. Average paying membership increased by 23% and average monthly revenue
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per g




paying membership increased by 5%. g g g g




b. $2,795,434 / $20,156,447 = 13.9% g g g g




c. $2,652,462, 13% of revenues g g g




RMecqGuraiwreHm
©
g ill LeLnCt. uA 2l l rights reserved. No reproduction or further distribution permitted without the prior written consent of McGraw Hill LLC
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Solutions Manual, Chapter 5
g g g 5-1

, a. $9,801,215 / $24,504,567 =
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g40%
b. $33,141 million
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©McGraw Hill LLC. All rights reserved. No reproduction or further distribution permitted without the prior written consent of McGraw Hill LLC
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5-2 Financial Accounting for Managers
g g g

,Requirement 3 g




a. $20,723,441. Long-term debt went up from the previous g g g g g g




year. g




b. $736,969

Requirement 4 g




9%

Requirement 5 g




a. Ernst & Young g g




LLP g




b. Yes




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




Requirement 1 g




First Quarter.
g




Requirement 2 g




August 26, 2018. The same quarter of last year is used as the comparison quarter.
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Requirement 3 g




The quarterly report includes 15 notes.
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RWP1-4 EDGAR Nordstrom Inc. (ticker: JWN) g g g g g




Requirement 1 g




The COVID-19 pandemic.
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Requirement 2 g




On March 23, 2020, the Company announced that it would be taking several steps in an
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gabundanceof caution to proactively strengthen its financial flexibility and navigate
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through this unprecedentedsituation. Specifically, the Company suspended its quarterly
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dividend beginning in the second quarter of 2020, drew down $800 million on its
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Revolving Credit Facility, targeted further reductions of more than $500 million in
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operating expenses, capital expenditures, and working capital, and suspended share
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repurchases.
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©McGraw Hill LLC. All rights reserved. No reproduction or further distribution permitted without the prior written consent of McGraw Hill LLC
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Solutions Manual, Chapter 5
g g g 5-3

, RWP1-5 Financial Analysis: American Eagle g g g g




($ in thousands)
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Requirement 1 g




Total assets g = $3,328,679 g




Total liabilities g =
$2,080,826Stockholders’ equity g g




=
$1,247,853

Assets = Liabilities + Stockholders’
Equity g




$3,328,679 = $2,080,826 + $1,247,853

Requirement 2 g




Consolidated Statements of Operations g g g




Requirement 3
Net sales g = $4,308,212 g




Net income g = $191,257 g




Requirement 4
Inflows Outflows
Investing activities g Sale of available-for- g g Capital expenditures for g g




sale g property and equipment
g g g




investments
Financing activities g Net proceeds from g g Repurchase of common g g




stockoptions g stock g




exercised g




Requirement 5 g




The company’s auditor is Ernst & Young LLP.
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The auditor states, ―We have audited the accompanying consolidated balance sheets of
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American Eagle Outfitters, Inc. (the Company) as of February 1, 2020 and February
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2, 2019, the related consolidated statements of operations, comprehensive income,
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stockholders’ equity and cash flows for each of the three years in the period ended
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February 1, 2020, and the related notes (collectively referred to as the ―consolidated
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financial statements‖). In our opinion, the consolidated financial statements present fairly, in
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all material respects, the financial position of the Company at February 1, 2020 and
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February 2, 2019, and the results of its operations and its cash flows for each of the
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threeyears in the period ended February 1, 2020, in conformity with U.S. generally
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accepted accounting principles.‖
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©McGraw Hill LLC. All rights reserved. No reproduction or further distribution permitted without the prior written consent of McGraw Hill LLC
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5-4 Financial Accounting for Managers g g g