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Fin 571 Week 2 Connect Problems Assignment

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1. Sankey, Inc., has current assets of $5,000, net fixed assets of $23,000, current liabilities of $3,500, and long-term debt of $7,900. (Do not round intermediate calculations.)
What is the value of the shareholders' equity account for this firm?
Shareholders' equity $_________
How much is net working capital?
Net working capital $_________

2. Which one of these accounts is classified as a current asset on the balance sheet?
• intangible asset
• accounts payable
• preferred stock
• inventory
• net plant and equipment

Complete FIN 571 week 2 connect problems Answers here FIN 571 Week 2 Connect Problems

3. It is easier to evaluate a firm using its financial statements when the firm:
• is a conglomerate.
• is global in nature.
• uses the same accounting procedures as other firms in its industry.
• has a different fiscal year than other firms in its industry.
• tends to have one-time events such as asset sales and property acquisitions.

4. The cash flow resulting from a firm's ongoing, normal business activities is referred to as the:
• operating cash flow.
• net capital spending.
• additions to net working capital.
• cash flow to retained earnings.
• cash flow to investors.

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5. Which one of these is a non-cash item?
• depreciation
• interest expense
• current taxes
• dividends
• selling expenses

6. Sankey, Inc., has current assets of $5,000, net fixed assets of $23,300, current liabilities of $4,450, and long-term debt of $11,000. (Do not round intermediate calculations.)
What is the value of the shareholders' equity account for this firm?
Shareholders' equity $_________
How much is net working capital?
Net working capital $_________

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7. Shelton, Inc., has sales of $401,000, costs of $189,000, depreciation expense of...

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