Exercise 9-2

Date
Dec-Y1
Mar-Y2
Jun-Y2
Sep-Y2
Des-Y2
Mar-Y3
Jun-Y3
Sep-Y3
Des-Y3
Mar-Y4
Jun-Y4
Sep-Y4
Des-Y4
Mar-Y5
Jun-Y5
Sep-Y5
Des-Y5
Mar-Y6
Jun-Y6
Sep-Y6
Des-Y6
Mar-Y7
Jun-Y7
Sep-Y7
Des-Y7
Mar-Y8
Jun-Y8
Sep-Y8
Des-Y8
Mar-Y9
Jun-Y9
Average
change
for each
quarter
Forecast
Sept.Y9 *
Forecast
Dec.Y9*
Forecast
Mar. Y0*
Forecast
Jun.Y0*

Sales

NI

17,349
12,278
13,984
13,972
16,040
12,700
14,566
14,669
17,892
12,621
14,725
14,442
17,528
14,948
17,630
17,151
19,547
16,931
18,901
19,861
22,848
19,998
21,860
21,806
24,876
22,459
24,928
23,978
28,455
24,062
27,410

1,263
964
1,130
996
1,215
1,085
656
1,206
1,477
1,219
1,554
1,457
1,685
1,372
1,726
1,610
1,865
1,517
1,908
1,788
2,067
1,677
2,162
2,014
2,350
1,891
2,450
2,284
2,671
2,155
2,820

In Des
Sales

-1,309

In Des
NI

Change
In March In March
In june
Sales
NI
Sales

251

2,709

153

2,710

178

1,945

226

2,172

270

241.43 1,667.67

214.67

172

180
1,983

145
1,271

182

202
3,067

160
2,959

254

283
2,461

214
3,068

288

321
1,603

264
2,482

1,586.57

-227

898

153
2,905

3,579

210

208
2,327

2,028

697
134
159

3,301

-474

262
-79

2,019

In Sept
NI

121
582

-364

In Sept
Sales

-48
422

1,852

In June
NI

201.14 1,683.43

170.14

1,918

370

25,564.57 2,485.14
30,041.57 2,872.14
25,745.43 2,325.14

* Most recent actual quarter + average change for the quarter.

29,328 3,061.43

Problem 9-6
Quacker Oats
Forecasted Statement of Cash Flows
For Year Ended June 30, Year 12
Cash provided by (used for) operations
Net income (a)
Terms in income not affecting cash
Depreciation & amortization (b)
Deferred income taxes
Provision for restructuring charges (given)
Increase in receivables (d)
Increse in inventories (e)
Increase in other current assets (f)
Increase in accounts payable (g)
Increase in other current liabilities (h)
Cash provided by operating activities
Cash provided by (used for) investment activities
Capital expenditures, PP & E (given)
Asset retirements (given)
Other changes (given)
Cash used for investing activities
cash provided by (used for) financing activities
Repayments of L-T debt (given)
Net decrease in S-T debt (given)
Cash dividend paid (given)
Additions to L-T debt-plug (i)
Cash provided by financing activities
Net increase in cash (j)
Cash, beginning balance
Cash, balance at end of year
Notes:
(a)

($235.8+$228.9+$148.9)/($5,491.2+$5,030.6+$4,879.4) =3.98 %
Net income in Year 12 = $6,000 x 0.0398 = $238.8

238.8
196.6
54.7
(8.9)
(45.2)
(25.6)
42.1
24.5
477.0
(300.0)
20.0
(30.0)
(310.0)
(45.0)
(40.0)
(135.0)
55.8
(164.2)
2.8
30.2
33.0

(b)

$ 328,8 x 0,8233 = $196.6

Average % = $140,4/613,6 = 22,9 %
Non current deffered income tax = $238,8 x 0,229 = $ 54,7
Ending A/R =$ 6000x (42/360) = $700
A/R, beg
691.1
A/R, end
700
kenaikan
8.9
Cost sales = 6000 x 0,51 = 3060
persediaan awal
422.3
persediaan akhir
467.5
kenaikan
45.2
(13,7 + 14,1 +48,9)/3 = 25,6
pembelian $2807,2 x 1,12 = $3144,1
A/P akhir = 3144,1 x (45/360) = 393
A/P awal
350.9
A/P akhir
393
Kenaikan
42.1
(43,2 +83,4-53,1)/3 =24,5
% penerimaan kas = 30,2/5491,2 = 0,55%
Kas akhir = 6000 x 0,55% =33
Kenaikan = 33-30,2 =2.8

(d)

(e)

(f)
(g)

(h)
(i)

Exercise 10-5
1 NE

A*
B*
C*
D*
*

NE

1
NE
NE
I/I=D
I/I=D

11
12

c.

d.

3
I/NE=I
I/NE=I
I/I=D
I/I=D

I/I=D
4
NE/I=D
NE/I=D
I/I=D
I/I=D

5
NE
NE
D/NE=D
NE

6
NE
NE
NE
I/NE=I

7
NE
NE
I/I=D
I/I=D

8
NE
NE
D/D=I
D/D=I

9
D/I=D
D/I=D
NE
NE

10
I/NE=I
NE
NE
NE

A. Total debt / total equity

B. Long term debt/ total equity
C. (pre tax earnings + fixed charges ) / Fixed charges
D. (pretax CFO + FC) / FC

Problem 10-1
a.
1
2
3
4
5
6
7
8
9
10

b.

2
D/NE=D
D/NE=D
D/D=I
D/D=I

I/I=D

1665,5 / 1298,1 = 1,28

(80,7 + 22,5 + 624,5)/1298,1 = 0,56
6205,8 / ((624,5 + 564,1 )/2) = 10,44
4258,2 / ((819,8 + 816)/2) = 5,21
624,5 / (6205, 8/360) = 36,23
819,8 / (4258,2 / 360 ) = 69,31
36,23 + 69, 31 + 105, 54
(80,7+22,5) / 1665,5 = 0,062
(80,7 +22,5) / 1298,1 = 0,0795
persediaan awal
819.8
CGS
4258.2
Persediaan awal
816
Depreciation
184.1
Pembeliaan
4077.9
105,54 - 46,36 = 59,18
448,4 / 1298,1 = 34,54 %

posisi likuiditas campbell's bagus karena mempunyai current and acid test ratio yang cukup baik dan
receivable turnover yang baik pula.
Current assets (FIFO) = 1665,5 + 84, 6 = 1750,1
CGS (FIFO) = 4258,2 + (84,6 - (904 - 816) ) = 4254,8
1
1750,1 / 1298,1 = 1,35
4
4254,8 / ((904,4 + 904)/2) =4,71
5
624,5 / 6205,8 /360 ) = 36,23
6
904,4 / 4258,2 /360) = 76,46
7
36,23 + 76, 46 = 112,69

Current ratio memiliki kelemahan, karena aktiva lancar yang digunakan untuk menghitung rasio
tersebut masih mencakup persediaan. Padahal, tak semua persediaan, misalnya bahan baku dan
bahan baku yang masih dalam proses produksi, bisa seketika diuangkan.

e.

Rasio perputaran persediaan adalah ukuran dari likuiditas dimana menjelaskan tentang
ukuran kecepatan perputaran persediaan dapat dikonversi menjadi uang tunai. Dalam
hubungan ini, kegunaan ukuran tambahan adalah periode konversi persediaan.