Formulas

Question 1

Retained Earnings

Answer 1

Beginning RE + Net Earnings - Dividends Declared = End RE

Question 2

Average # of Shares

Answer 2

(Beg. + End) / 2

Question 3

AFDA

Answer 3

Beg. Balance - write-off + bad debt expense = end. balance

Question 4

Contributed Capital

Answer 4

Beg. CC + Issuance of Shares = End CC

Question 5

Retained Earnings

Answer 5

Beg. RE + Net Earnings - Dividends Declared = End. RE

Question 6

Net Realizable Value of Accounts Receivable

Answer 6

Accounts Receivable - AFDA

Question 7

Cost of Sales Equation

Answer 7

COS = BI + P - EI

Question 8

Capital Gain (or Loss)

Answer 8

= selling price minus selling expenses - cost base

Question 9

Interest for the period

Answer 9

Principal x Annual interest rate x # of months / 12 months

Question 10

Working Capital

Answer 10

Current Assets - Current Liabilities

Question 11

Standby Charge

Answer 11

2% x Cost x Months Driven

Question 12

Operating Cost Benefit

Answer 12

$0.33 x km driven for personal use

Question 13

Cash received from customers (for liabilities questions)

Answer 13

Beg. Balance + Cash received from customers - Warranty revenue = Ending balance

Question 14

Capital Cost Allowance (CCA)

Answer 14

= Undepreciated Capital Cost x Fixed Rate

Question 16

ROA Profit Driver Analysis

Answer 16