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小蜜蜂jj1 · 2022年02月18日

英文答案算出来是40,中文是55,是不是写错了?

NO.PZ2016012101000104

问题如下:

An analyst gathered the following information from a company’s 2010 financial statements (in $ millions):

In 2010, the company declared and paid cash dividends of $10 million and recorded depreciation expense in the amount of $25 million. The company considers dividends paid a financing activity. The company’s 2010 cash flow from operations (in $ millions) was closest to

选项:

A.

25.

B.

45.

C.

75.

解释:

B  is correct.

All dollar amounts are in millions. Net income (NI) for 2010 is $35. This amount is the increase in retained earnings, $25, plus the dividends paid, $10. Depreciation of $25 is added back to net income, and the increases in accounts receivable, $5, and in inventory, $3, are subtracted from net income because they are uses of cash. The decrease in accounts payable is also a use of cash and, therefore, a subtraction from net income. Thus, cash flow from operations is $25 + $10 + $25 – $3- $5–$7 = $45.

解析:CFO的计算有直接法和间接法两种方法,根据题目给的AR、inventory和AP的条件可以确定应该是用间接法,间接法的CFO是从NI推出的,本题虽然没有给NI,但是给了RE和dividend,根据RE的BASE法则我们可以算出NI。期初RE+NI-dividend=期末RE,即120+NI-10=145,算出NI=35。再代入公式计算CFO=NI+dep –Δinv–ΔA/R+ΔA/P=35+25-(48-45)-(43-38)+(29-36)=45。

如题,NI不一样。。。。。


1 个答案

Kiko_品职助教 · 2022年02月19日

嗨,爱思考的PZer你好:


我没有看明白你说的,NI中英文解析里是一样得呀,都是35啊。

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