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Exam 1: Financial Accounting for MBAS

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Question 1

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Fill in the blanks to complete Whole Food's Statement of Cash Flows ($ millions).

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Question 2

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Which of the following items would not be found on a balance sheet? (Select all that apply)

A) Stockholders' Equity
B) Property, plant and equipment
C) Nonowner financing
D) Cash
E) Dividends

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Question 3

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On October 2, 2016, Starbucks Corporation reported, on its Form 10-K, the following (in millions) : What amount of revenues did Starbucks report for the year ending October 2, 2016?

Fill in the blanks to complete the Procter & Gamble Balance Sheet ($ millions).

In its December 31, 2016 annual report, Mattel, Inc. reports the following items. a. Prepare the balance sheet for Mattel, Inc. for December 31, 2016. b. Prepare the income statement for Mattel, Inc. for the year ended December 31, 2016. c. Prepare the statement of cash flows for Mattel, Inc. for the year ended December 31, 2016.

Generally Accepted Accounting Principles (GAAP) are created by: (select all that apply)

Match the item with each sentence -Changes in contributed capital during the period are explained on the ____________.

Publicly traded companies are required to provide quarterly financial reports directly to the public.

On October 2, 2016, Starbucks Corporation reported, on its Form 10-K, the following (in millions) : Calculate year-over-year increase or (decrease) in net earnings, in percentage terms.

Publicly traded companies must provide to the Securities Exchange Commission annual audited financial statements (10-K reports) and quarterly audited financial statements (10-Q reports).

Sales for the year = $246,687, Net Income for the year = $22,965, and average Assets during the year = $136,357. Return on Assets (ROA) for the year is:

On December 31, 2016, Harley-Davidson, Inc., reported, on its Form 10-K, the following (in millions) : Calculate return on assets (ROA) for 2016.

List three users of financial accounting information and explain how each might use financial information.

Procter & Gamble's June 30, 2016, financial statements reported the following (in millions) : What did Procter & Gamble report for cash from financing activities for the year ended June 30, 2016?

Match the item with each sentence -The difference between a company's assets and its equity is equal to _______________.

Match the item with each sentence -The _______________ reports cash from financing activities.

In its 2016 annual report, Kohl's Corporation reported the following (in millions) : What proportion of Kohl's Corporation is financed by nonowners?

A clean audit opinion includes which of the following assertions: (Select as many as apply)

Return on Assets (ROA) measures the profit the company makes on each dollar of total assets it uses.

Match the item with each sentence -Net income divided by average assets is known as ____________.