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会计学教程与案例财务会计分册第十12版第9章答案.doc
Chapter 9
SOURCES OF CAPITAL: OWNERS’ EQUITY
Changes from Eleventh Edition
Updated from Eleventh Edition
Approach
By comparison with Chapter 8, this chapter’s equity topics are relatively straightforward. I try to downplay the differences between equity accounting for unincorporated and incorporated businesses. As a consultant to the former, I urge them to impute market salaries for their employee-owners, so that their income can be compared with the pretax earnings of incorporated firms.
Cases
Xytech, Inc. provides practice in accounting for various owners’ equity transactions.
Innovative Engineering Company involves comparison of alternative financing arrangements for a new company.
UPC, Inc., examines the calculation of earnings per share for annual periods.
Maxim Integrated Products, Inc., provides a platform to discuss accounting for stock options under PAS 123R. This is a new case with this edition.
Problems
Problem 9–1
a. Debt/EquityRatio Debt/Capitalization Ratio (1) Including current liabilities Rarely calculated this way. (2) Excluding current liabilities except current portion of long-term debt (3) Excluding all current liabilities
These two ratios measure the proportion of funds the company has raised from creditors as opposed to owners. They indicate how much “leverage” the firm has in its capital structure. The basic trade-off a company makes in determining the “right” ratio (i.e., capital structure) is between the risks inherent in taking on fixed debt obligations versus the opportunity to increase the shareholders’ profitability by having some debt in the capital structure. (A more detailed study of capital structure decisions is covered in finance courses.)
Problem 9–2
Basic earnings per share =
Diluted earnings per share =
*Assume 200,000 optional shares issued less assumed 100,000 shared repurchased with option payments (200,000 shares x $10 per exercised option) at $20 per share.
Problem 9–3
Weighted average numbe
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