JRE300 Past Midterm
JRE300: Fundamentals of Accounting and Finance
MIDTERM EXAMINATION (30% of Final Grade): Fall 2011
Time Allowed: 110 minutes
FIRST NAME _______________________________________
LAST NAME ________________________________________
STUDENT NUMBER:__________________________________
Instructions:
1) Write all of your answers on the examination paper. If you need additional space, use the back of the page facing the question and clearly identify the question being answered.
2) This is a closed book exam. One single-sided 8.5'x11'aid sheet containing formulas/notes is permitted. Non-programmable calculators are permitted.
3) Pencil or pen may be used. However, papers written in pencil or papers with white outs will not be re-marked.
Please remain in your seats during the last 15 minutes of the exam period so you do not disturb others.
Question Marks Marks Awarded 1 10 2 15 3 35 4 18 5 15 6 7
Total 100
Question 1 (10 marks)
a) (5 marks) Using the table below, classify the following items as Assets, Liabilities or Shareholders' Equity: Common Shares $10 million; Accounts Receivable $2 million; Unearned Revenue $5 million; Goodwill $4 million; Income Tax Payable $6 million; Investments $1 million; Bank Advances $15 million; Preferred Shares $5 million; Retained Earnings $3 million; Property Plant & Equipment $7 million
Y&Co. Consolidated Balance Sheet - 2010
Assets
Liabilities
Shareholders' Equity
b) (3 marks) Assume the Total Assets of the company equal $23 million. Using the information provided in part a), what are the Total Liabilities of Y&CO?
c) (2 marks) What would you expect to find under Long Term Investments for Y&CO?
Question 2 (15 marks)
a) (5 marks) Using the information provided for Ford Motor Company, conduct a vertical analysis of the company's Cost of Sales and
MIDTERM EXAMINATION (30% of Final Grade): Fall 2011
Time Allowed: 110 minutes
FIRST NAME _______________________________________
LAST NAME ________________________________________
STUDENT NUMBER:__________________________________
Instructions:
1) Write all of your answers on the examination paper. If you need additional space, use the back of the page facing the question and clearly identify the question being answered.
2) This is a closed book exam. One single-sided 8.5'x11'aid sheet containing formulas/notes is permitted. Non-programmable calculators are permitted.
3) Pencil or pen may be used. However, papers written in pencil or papers with white outs will not be re-marked.
Please remain in your seats during the last 15 minutes of the exam period so you do not disturb others.
Question Marks Marks Awarded 1 10 2 15 3 35 4 18 5 15 6 7
Total 100
Question 1 (10 marks)
a) (5 marks) Using the table below, classify the following items as Assets, Liabilities or Shareholders' Equity: Common Shares $10 million; Accounts Receivable $2 million; Unearned Revenue $5 million; Goodwill $4 million; Income Tax Payable $6 million; Investments $1 million; Bank Advances $15 million; Preferred Shares $5 million; Retained Earnings $3 million; Property Plant & Equipment $7 million
Y&Co. Consolidated Balance Sheet - 2010
Assets
Liabilities
Shareholders' Equity
b) (3 marks) Assume the Total Assets of the company equal $23 million. Using the information provided in part a), what are the Total Liabilities of Y&CO?
c) (2 marks) What would you expect to find under Long Term Investments for Y&CO?
Question 2 (15 marks)
a) (5 marks) Using the information provided for Ford Motor Company, conduct a vertical analysis of the company's Cost of Sales and