Empowering you for success, Brigham/Ehrhardt’s FINANCIAL MANAGEMENT: THEORY AND PRACTICE, 16th edition, equips you with a solid understanding of key theoretical concepts along with practical tools to make effective financial decisions. Brigham has served as president of the Financial Management Association and has written more than the 40 journal articles on the cost of capital, capital structure, and other aspects of financial management. Ps vita download speed. Separation studio software free download.
Financial management: theory & practice, 14th edition solutions manual and test bank by eugene f. Brigham | michael c. Ehrhardt
|
Cash
|
Accounts payable
|
Inventory
|
Accruals
|
Accounts receivable
|
Total CL
|
Total CA
|
Debt
|
Net fixed assets
|
Common stock
|
|
Retained earnings
|
Total assets
|
Total L & E
|
The statement of cash needs tells us how much cash the firm will require during some future period, generally a month or a year.
|
The four most important financial statements provided in the annual report are the balance sheet, income statement, cash budget, and the statement of stockholders' equity.
|
The balance sheet gives us a picture of the firm's financial position at a point in time.
|
The income statement gives us a picture of the firm's financial position at a point in time.
|
The statement of cash flows tells us how much cash the firm has in the form of currency and demand deposits.
|
A typical industrial company's balance sheet lists the firm's assets that will be converted to cash first, and then goes on down to list the firm's longest lived assets last.
|
The balance sheet for a given year, say 2012, is designed to give us an idea of what happened to the firm during that year.
|
The balance sheet for a given year, say 2012, tells us how much money the company earned during that year.
|
The difference between the total assets reported on the balance sheet and the debts reported on this statement tells us the current market value of the stockholders' equity, assuming the statements are prepared in accordance with generally accepted accounting principles (GAAP).
|
For most companies, the market value of the stock equals the book value of the stock as reported on the balance sheet.
|
The company purchases a new piece of equipment.
|
The company repurchases common stock.
|
The company pays a dividend.
|
The company issues new common stock.
|
The company gives customers more time to pay their bills.
|
Short-term, highly liquid, marketable securities.
|
Accounts receivable.
|
Inventory.
|
Bonds.
|
Cash.
|
Accrued payroll taxes.
|
Accounts payable.
|
Short-term notes payable to the bank.
|
Accrued wages.
|
Cost of goods sold.
|
The income statement for a given year, say 2012, is designed to give us an idea of how much the firm earned during that year.
|
The focal point of the income statement is the cash account, because that account cannot be manipulated by 'accounting tricks.'
|
The reported income of two otherwise identical firms cannot be manipulated by different accounting procedures provided the firms follow Generally Accepted Accounting Principles (GAAP).
|
The reported income of two otherwise identical firms must be identical if the firms are publicly owned, provided they follow procedures that are permitted by the Securities and Exchange Commission (SEC).
|
If a firm follows Generally Accepted Accounting Principles (GAAP), then its reported net income will be identical to its reported net cash flow.
|
Assets:
|
2012
|
$ 200,000
|
|
Accounts receivable
|
700,000
|
2,000,000
|
|
Total current assets
|
$2,270,000
|
6,000,000
|
|
Total assets
|
$7,870,000
|
|
|
Liabilities and equity:
|
|
$1,400,000
|
|
Notes payable
|
1,800,000
|
$3,000,000
|
|
Long-term debt
|
2,400,000
|
3,000,000
|
|
Retained earnings
|
580,000
|
$3,664,000
|
|
Total liabilities and equity
|
$7,870,000
|
Wolken increased its short-term bank debt in 2013.
|
Wolken issued long-term debt in 2013.
|
Wolken issued new common stock in 2013.
|
Wolken repurchased some common stock in 2013.
|
Wolken had negative net income in 2013.
|
Dividends could have been paid in 2013, but they would have had to equal the earnings for the year.
|
If the company lost money in 2013, they must have paid dividends.
|
The company must have had zero net income in 2013.
|
The company must have paid out half of its earnings as dividends.
|
The company must have paid no dividends in 2013.
|
Write something about yourself. No need to be fancy, just an overview.