Neoliberalismo

SOLUÇÃO QUESTÕES CAPÍTULO 1

1.3 The balance sheet shows assets, liabilities and, shareholders’ equity as of a specific date (the balance sheet date), similar to a snapshot. The income statement and statement of cash flows report changes in assets and liabilities over a period of time, similar to a motion picture.

1.11 A current item is expected to result in a cash receipt (assets such as accounts receivable) or a cash payment (liabilities such as accounts payable) within approximately one year or less. A noncurrent item is expected to generate cash over periods longer than a year (assets, such as factory buildings that will be used to produce goods for sale over many years) or use cash over periods longer than a year (liabilities such as long term debt). Users of financial statements would likely be interested in this distinction because the distinction provides information about short- term cash flows separately from long-term cash flows.

1.12 Historical amounts reflect the amounts at which items entered the firm’s balance sheet, for example, the acquisition cost of inventory. Historical amounts reflect economic conditions at the time the firm obtained assets or obtained financing. Current amounts reflect values at the balance sheet date, so they reflect current economic conditions. For example, the historical amount for inventory is the amount the firm paid to obtain the inventory, and the current amount for inventory is the amount for which the firm could replace the inventory today.

1.13 An income statement connects two successive balance sheets through its effect on retained earnings. Net income that is not paid to shareholders as dividends increases retained earnings. A statement of cash flows connects two successive balance sheets because it explains the change in cash (a balance sheet account) from operating, financing, and investing activities. The statement of cash flows also shows the relation between net income and cash flows from operations,...