Question
In: Accounting
Financial Reporting Problem: Columbia Sportswear Company The financial statements for the Columbia Sportswear Company are available...
Financial Reporting Problem: Columbia Sportswear Company The financial statements for the Columbia Sportswear Company are available on this book’s Website. Required Answer the following questions:
a. How much did Columbia Sportswear’s cash and cash equivalents decrease in 2014?
b. What was the largest source of cash and cash equivalents in 2014?
c. What was the single largest use of cash and cash equivalents in 2014?
d. How much dividends were paid in 2014?
e. Why do depreciation and amortization, both noncash items, appear on Columbia’s statement of cash flows?
Solutions
Expert Solution
a. $ 23,931 decrease in cash & Cash equivalents from 2013.
| 2014 | 2013 | decrease |
| 413,558 | 437,489 | 23,931 |
b.
As per the cash flow statement the largest source of cash & Cash equivalents are the income from the operating activities.
c.
Acquisition of business is the single largest use amounting to $ 188,467,000
d.
Cash dividends paid 39,836 in 2014 as per cash flow statements.
e.
Depreciation and amortization are non-cash items but are deducted from the Net income. so to calculate the cash Net Income these are added back since they are not actually paid.
ekkarill92 answered 1 year agoRelated Solutions
Comparative Analysis Problem: Columbia Sportswear Company vs. Under Armour, Inc. The financial statements for the Columbia...
Comparative Analysis Problem: Columbia Sportswear Company vs.
Under Armour, Inc. The financial statements for the Columbia
Sportswear Company can be found in Appendix A, and Under Armour,
Inc's financial can be found in Appendix B at the end of this
book.
Columbia Statements are here:
http://www.chegg.com/homework-help/questions-and-answers/financial-statements-columbia-sportswear-company-presented-appendix-b-based-information-fi-q20398389
Columbia annual reports are here:
http://investor.columbia.com/annuals.cfm
Under Armour Statements are here: Keep scrolling you will see
the info needed.
https://www.sec.gov/Archives/edgar/data/1336917/000133691715000006/ua-20141231x10k.htm
Under Armour annual reports are here:
http://www.annualreports.com/Company/under-armour-inc
Required
a) Calculate the accounts receivable turnover...
Comparative Analysis Problem: Columbia Sportswear Company vs. Under Armour, Inc. The financial statements for the Columbia...
Comparative Analysis Problem: Columbia Sportswear Company vs.
Under Armour, Inc. The financial statements for the Columbia
Sportswear Company can be found in Appendix A, and Under Armour,
Inc's financial can be found in Appendix B at the end of this
book.
Columbia Statements are here:
http://www.chegg.com/homework-help/questions-and-answers/financial-statements-columbia-sportswear-company-presented-appendix-b-based-information-fi-q20398389
Columbia annual reports are here:
http://investor.columbia.com/annuals.cfm
Under Armour Statements are here: Keep scrolling you will see
the info needed.
https://www.sec.gov/Archives/edgar/data/1336917/000133691715000006/ua-20141231x10k.htm
Under Armour annual reports are here:
http://www.annualreports.com/Company/under-armour-inc
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a) Compare the dollar value of...
The financial statements of Columbia Sportswear Company are presented in Appendix B. Click here to view...
The financial statements of Columbia Sportswear
Company are presented in Appendix B.
Click here to view Appendix B.
The financial statements of VF Corporation are
presented in Appendix C.
Click here to view Appendix C.
Answer the following questions for each company.
(a)
Based on the information in these financial statements, compute the
2016 return on common stockholders’ equity, debt to assets ratio,
and return on assets for each company. (Round answers
to 1 decimal places, e.g. 15.2%.)
Columbia Sportswear...
Business Transactions for each company: (OAKLEY and Columbia Sportswear), based on the accounts described in the...
Business Transactions for each company: (OAKLEY and Columbia
Sportswear), based on the accounts described in the financial
statements, hypothesize at least five types of business
transactions the company may have and the effect on the accounting
equation).
Please answer the following questions based on the Columbia Sportswear Company 2017 10-K. (Link to the...
Please answer the following questions based on the Columbia
Sportswear Company 2017 10-K.
(Link to the Columbia's 10K:
http://files.shareholder.com/downloads/COLM/6230778634x0x977594/E27E55DB-E7E3-4C4A-BA09-B8BB85FB2893/2018_Combined_Shareholder_Letter_and_10-K.pdf)
1. Assets classified as Property, Plant and Equipment can be either
acquired for use in operations, or acquired for resale.
a. True
b. False
2. What is the December 31, 2017 balance (in thousands) of Land
and Improvements for Columbia Sportswear Company?
a. $21,065
b. $21,862
c. $21,049
d. $20,862
3. What is the December 31, 2017 balance (in thousands) of...
Officials for the Lexington Company are preparing financial statements for Year One. The company is reporting...
Officials for the Lexington Company are preparing financial
statements for Year One. The company is reporting net income of
$900,000. The company had 100,000 shares of common stock
outstanding at the beginning of the year but a stock split on
October 1 doubled that number to 200,000. In the previous year, the
company issued 10,000 convertible bonds with a face value of $1,000
each that will come due in ten years. Each bond is convertible into
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Mikky is a public limited company that prepares financial statements in accordance with International Financial Reporting...
Mikky is a public limited company that prepares financial
statements in accordance with
International Financial Reporting Standards. Mikky has a number
of bank loans, which are
repayable if it breaches its covenants. The covenants are based
on profit before tax and reported assets. A new accountant has
recently started working at Mikky and has discovered some issues
relating to the financial statements for the year ended 31 December
20X5.
Mikky’s statement of financial position includes an intangible
asset. This asset...
Comparing Two Companies in the Same Industry: Under Armour and Columbia Sportswear The following information is...
Comparing Two Companies in the Same Industry: Under Armour and
Columbia Sportswear
The following information is available from the financial
statements included in Form 10-K for fiscal years 2014 and 2013 for
Under Armour, Inc. and Columbia Sportswear
Company (in thousands of dollars):
Under Armour, Inc.
Columbia Sportswear Company
Net revenues (Net sales for Under Armour, Inc. & Columbia
Sportswear) for the year ended December 31, 2014
$3,084,370
$2,100,590
Accounts receivable, net:
December 31, 2014
279,835
344,390
December 31, 2013...
The context and purpose of financial reporting 1 The scope and purpose of, financial statements for...
The context and purpose of financial reporting
1 The scope and purpose of, financial statements for external
reporting
(a) Define financial reporting – recording, analysing and
summarising financial data.
(b) Identify and define types of business entity – sole
trader, partnership, limited liability company.
(c) Recognise the legal differences between a sole trader,
partnership and a limited liability company.
(d) Identify the advantages and disadvantages of operating as
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(e) Understand the nature,...
The 2016 and 2017 financial statements of Ken’s Sportswear follow: Balance Sheet 2017 2016 Assets Cash...
The 2016 and 2017 financial statements of Ken’s Sportswear
follow:
Balance Sheet
2017
2016
Assets
Cash
$9,000
$7,000
Accounts receivable
12,000
9,000
Inventory
18,000
15,000
Property, plant, and equipment
60,000
50,000
Total assets
$99,000
$81,000
Liabilities and Shareholders’ Equity
Accounts payable
$16,500
$12,000
Notes payable
46,000
40,000
Common stock
25,000
25,000
Retained earnings
11,500
4,000
Total liabilities and equity
$99,000
$81,000
Income Statement
Sales (all on credit)
$72,000
Less: Cost of goods sold
30,000
Gross profit
$42,000
Operating expenses
12,000...
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