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1、ConceptQuestions◆Whatisthebalance-sheetequation?Assets=Liabilities+Stockholders'equity◆Whatthreethingsshouldbekeptinmindwhenlookingatabalancesheet?Accountingliquidity,debtvs.equity,andvaluevs.cost.◆Whatistheincomestatementequation?Revenue-expenses=Income◆Whata
2、rethethreethingstokeepinmindwhenlookingatanincomestatement?GenerallyAcceptedAccountingPrinciples(GAAP),noncashitems,andtimeandcosts.◆Whatarenoncashexpenses?Noncashexpensesareitemsincludedasexpensesbutwhichdonotdirectlyaffectcashflow.Themostimportantoneisdeprec
3、iation.◆Whatisnetworkingcapital?Itisthedifferencebetweencurrentassetsandcurrentliabilities.◆Whatisthechangeinnetworkingcapital?Todeterminechangesinnetworkingcapitalyousubtractusesofnetworkingcapitalfromsourcesofnetworkingcapital.◆Howiscashflowdifferentfromchan
4、gesinnetworkingcapital?Thedifferencebetweencashflowandchangesinnewworkingcapitalisthatsometransactionsaffectcashflowandnotnetworkingcapital.Theacquisitionofinventorieswithcashisagoodexampleofachangeinworkingcapitalrequirements.◆Whatisthedifferencebetweenoperat
5、ingcashflowandtotalcashflowofthefirm?Themaindifferencebetweenthetwoiscapitalspendingandadditionstoworkingcapital,thatis,investmentinfixedassetsand"investment"inworkingcapital.QuestionsAndProblemsTheBalanceSheet1PrepareaDecember31balancesheetusingthefollowingda
6、ta:Cash$4,000Patents82,000Accountspayable6,000Accountsreceivable8,000Taxespayable2,000Machinery34,000Bondspayable7,000Accumulatedretainedearnings6,000Capitalsurplus19,000Theparvalueofthefirm’scommonstockis$100.1AssetsCurrentassetsCash$4,000Accountsreceivable8,
7、000Totalcurrentassets$12,000FixedassetsMachinery$34,000Patents82,000Totalfixedassets$116,000Totalassets$128,000LiabilitiesandequityCurrentliabilitiesAccountspayable$6,000Taxespayable2,000Totalcurrentliabilities$8,000Long-termliabilitiesBondspayable$7,000Stockh
8、oldersequityCommonstock($100par)$88,000Capitalsurplus19,000Retainedearnings6,000Totalstockholdersequity$113,000Totalliabilitiesandequity$128,0002Thefollowingtablepresentsthelong-te
