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Question Description
BUS 590 Week 6 Discussions Ashford
BUS 590 Week 6 Discussion Question 1
PROBLEM 14-14 Prepare and Interpret a Statement of Cash Flows [LO14-1, LO14-2]
A comparative balance sheet for Lomax Company containing data for the last two years is as follows:
The following additional information is available about the company's activities during this year:
a. The company declared and paid a cash dividend this year.
b. Bonds with a principal balance of $350,000 were repaid during this year.
c. Equipment was sold during this year for $70,000. The equipment had cost $130,000 and had $40,000 in accumulated depreciation on the date of sale.
d. Long-term investments were sold during the year for $110,000. These investments had cost $50,000 when purchased several years ago.
e. The subsidiaries did not repay any outstanding loans during the year.
f. Lomax did not repurchase any of its own stock during the year.
The company reported net income this year as follows:
Required:
1. Using the indirect method, prepare a statement of cash flows for this year.
2. What problems relating to the company's activities are revealed by the statement of cash flows that you have prepared?
BUS 590 Week 6 Discussion Question 2
Select a company and locate their financial statements. It is recommended you use the Mergent database in the Ashford University Library for easy access to financial statements. Calculate at least one ratio from the following categories: (a) Liquidity, (b) Asset Management, (c) Debt Management, (d) Profitability, and (e) Market Performance. Discuss what the ratio(s) tell us and how they can assist management in the decision-making process. Make sure to include the financial statement. Respond to at least two of your classmates’ posts.
BUS 590 Week 6 Discussions Ashford
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