NAMA : FAHMI NUR ALFIYAN

NIM : MAT81766
MATKUL : FINANCIAL ACCOUNTING
KELAS : A

Exercises 15.3
The comparative condensed statements of financial position of Garcia SLU are presented.
Gracia SLU
Comparative Condensed Statements of Financial Position
December 31

2020 2019
Assets
Intangibles € 24.000 € 40.000
Property, Plant, and Equipment (net) € 100.000 € 92.000
Current Assets € 76.000 € 82.000
Total Assets € 200.000 € 214.000

Equity and Liabilities

Equity € 20.000 € 16.000
Non-Current Liabilities € 140.000 € 150.000
Current Liabilities € 40.000 € 48.000
Total Equity and Liabilities € 200.000 € 214.000

a. Prepare a horizontal analysis of the statement of financial position data for Garca using 2019 as a base.
Garcia SLU
Condensed Statements of Financial Position
December 31

Percentage
Increase Change
2020 2019 (Decrease) from 2019
Assets
Intangibles € 24.000 € 40.000 -€ 16.000 -40,00%
Property, Plant, and Equipment (net) € 100.000 € 92.000 € 8.000 8,70%
Current Assets € 76.000 € 82.000 -€ 6.000 -7,32%
Total Assets € 200.000 € 214.000 -€ 14.000 -6,54%

Equity and Liabilities

Equity € 20.000 € 16.000 € 4.000 25,00%
Non-Current Liabilities € 140.000 € 150.000 -€ 10.000 -6,67%
Current Liabilities € 40.000 € 48.000 -€ 8.000 -16,67%
Total Equity and Liabilities € 200.000 € 214.000 -€ 14.000 -6,54%

b. Prepare a vertical analysis of the statement of financial position data for Garcia in columnar form
for 2020.
Garcia SLU
Condensed Statement of Financial Position
December 31, 2020
Amount Percent
Assets
Intangibles € 24.000 12,00%
Property, Plant, and Equipment (net) € 100.000 50,00%
Current Assets € 76.000 38,00%
Total Assets € 200.000 100%

Equity and Liabilities

Equity € 20.000 10,00%
Non-Current Liabilities € 140.000 70,00%
Current Liabilities € 40.000 20,00%
Total Equity and Liabilities € 200.000 100%
 Problems 15.2

a. Earning per Share

Earning per Share = R$ 192.000 / 60.000 = R$ 3,20

b. Return on Ordinary Shareholders' Equity

Return on Ordinary Shareholders' Equity = R$ 192.000 / [( R$ 465.400 + R$ 542.600 ) / 2]

Return on Ordinary Shareholders' Equity = R$ 192.000 / R$ 504.000
Return on Ordinary Shareholders' Equity = 38,1%

c. Return on Assets

Return on Assets = R$ 192.000 / [( R$ 852.800 + R$ 946.100 ) / 2]

Return on Assets = R$ 192.000 / R$ 899.450
Return on Assets = 21,3%

d. Current Ratio

Current Ratio = R$ 345.800 / R$ 203.500

Current Ratio = 1,70 : 1

e. Acid-Test Ratio

Acid-Test Ratio = R$ 234.850 / R$ 203.500

Acid-Test Ratio = 1,15 : 1

f. Accounts Receivable Turnover

Accounts Receivable Turnover = R$ 1.818.500 / [( R$ 115.500 + R$ 110.950 ) / 2 ]

Accounts Receivable Turnover = R$ 1.818.500 / R$ 113.225
Accounts Receivable Turnover = 16,06 times

g. Inventory Turnover

Inventory Turnover = R$ 1.011.500 / [( R$ 115.500 + R$ 110.950 ) / 2]

Inventory Turnover = R$ 1.011.500 / R$ 113.225
Inventory Turnover = 8,9 times

h. Times Interest Earned

Times Interest Earned = R$ 291.000 / R$ 15.000

Times Interest Earned = 19,4 times

i. Asset Turnover

Asset Turnover = R$ 1.818.500 / [( R$ 852.800 + R$ 946.100 ) / 2 ]

Asset Turnover = 2,0 times

j. Debt to Assets Ratio

Debt to Total Assets = R$ 403.500 / R$ 946.100

Debt to Total Assets = 42,6%
 Problem 15.9

The Ledger of Gower Limited at December 31, 2020, contains the following summary data:

Net Sales £ 1.580.000

Selling Expenses £ 70.000
Other Income and Expenses -£ 6.000
Cost of Goods Sold £ 1.100.000
Administrative Expenses £ 90.000
Additional Information:
1 The entire Puzzles Divisions was discontinued on August 31. The income from operations
for this division before income taxes was £ 15.000. The Puzzle Division was sold at a loss
of £ 74.000 before income taxes.
2 The Company had an unrealized gain on non-trading securities of £ 120.000 before income
taxes for the year.
3 The income tax rate on all items is 30%.

Instructions:
Prepare a statement of comprehensive income for the year ended December 31, 2020.
Use the format illustrated in the Practice Problem.
Gower Limited
Statement of Comprehensive Income
For the Year Ended December 31, 2020
Net Sales £ 1.580.000
Cost of Goods Sold £ 1.100.000
Gross Profit £ 480.000
Selling and Administrative Expenses £ 160.000
Income from Operations £ 320.000
Other Income and Expense -£ 6.000
Income Before Income Taxes £ 314.000
Income Taxes Expense ( £ 314.000 x 30%) £ 94.200
Income from Continuing Operations £ 219.800
Discontinued Operations:
Income from Operations of Discontinued,
Puzzles Division, Net of £ 4.500 Income Taxes £ 10.500
Loss from Sale of Discontinued, Puzzle Division,
Net of £ 22.200 Income Tax Savings (51.800)
(41.300)
Net Income £ 178.500
Other Comprehensive Income:
Unrealized Gain on Non-Trading Securities,
Net of £ 36.000 Income Taxes £ 84.000
Comprehensive Income £ 262.500