Total Assets Beg. Yr 6276Total Assets End Yr 6862Total Sales 7719 Asset Turnover RatioNet Income 805

Profit Margin On Sales

Return on Assets1) Asset Turnover and Profit Margin2) Net Income

1.175 Times

10.43%

Return on Assets12.25%12.25%

Cost $1,083,390Expected Life 12 YearsSalvage Value $92,400 Staight Line

Sum of the Years Digits1

Sum-of the years 78 23

rewrote Double-Decling BalanceDep. Rate % 16.67% 16.67% 1

23

Staight Line $82,583

Sum of the Years DigitsYear $152,460Year $139,755Year $127,050

Double-Decling BalanceYear $180,601 Year $150,495 Year $125,407

Cost 9,576,000 Loss on ImparimentAccum. Dep. 1,064,000 Cost $9,576,000 Exp. NCF 7,448,000 Less Accum. Dep. ($1,064,000)FV 5,107,200 Carrying Amount $8,512,000 Useful Life 5 Years FV $5,107,200

a) New Carry Amount $5,107,200 Loss on Impariment $3,404,800 Useful Life 5 Accumulated Deprecation $3,404,800 Dep. Per Year $1,021,440

b)Depreciation Exp. $1,021,440 Accumulated Deprecation $1,021,440 FV (New year) 5,426,400

c)No Entry 0 No Entry 0

$3,404,800

owns 10,710 cost 1989

estimated land w/o timber 459each acre contained 12240

10 miles of road cost 11995sold 5355 trees

1300500 board feet

1) Cost of Timber Sold $162,563 1530 per acre for timber

2) Depreciation Expense $1,190

3) Captialize $160,650

Must Plant 5at a cost of $6 Cost of Seeding $30

Price $205,700 Credit Terms 2/10, n/30 Exp. Life 10 years SV $0 Freight-in $1,936 Exp. Life 8 Years SV $3,630 prep, and Install $9,196 Labor Cost $25,410

a)Straight Line $17,424 Sum of the years $42,592 Double Decling $35,453

St. LinePrice $205,700 Less: Purchase Dis. ($4,114)Freigh-in $1,936 Install $9,196

$212,718 Less: Salvage Value ($3,630)

$209,088

Sum of Year 361 $46,464 $30,976 $15,488 2 $40,656 $27,104

$42,592

Double Decline $35,453

Cost $109,470 Months in first year remaining 7SV $6,150life 7 yearsHours 51660Production 645750Operated 7380 hours

2014Produced 67650Operated 6765 Hours

2015Produced 59040

A) 2014 2015Straight Line $8,610 $14,760

B)Units of Output $10,824 $9,446

$0.16

C)Working Hours $14,760 $13,530

$2

D)Sum of the Year $15,068 $23,678

28

E)Double Decline $18,245 $26,064

2/7

Cost $21,100,000Useful Life 8 yearsSV 0FNCF $13,293,000FV $11,816,000N UL 4 years

A)Carrying Value of Asset

$2,637,500 $21,100,000$5,275,000

$15,825,000

FCF $13,293,000 CV $15,825,000

Loss on Impairment $4,009,000

B)Deprecaition Expense

$2,954,000

C) FV 12449000IF a Loss then Recovery of loss on Impairment $633,000

Loss on Impairment $4,009,000 Accumulated Deprecation- Equipment $4,009,000

Deprecation Expense $2,954,000 Accumulated Deprecation-Equipment $2,954,000

Loss on Imparment $4,009,000 Accumulated Deprecation-Equipment $4,009,000Accumulated Deprecation-Equipment $633,000 Recovery of Loss from Impairment $633,000

Purcahsed 256220 Cash151650 note payable

Cash 50640 Accounts Payable 203450Accounts Recievable 90130 Stockholders' Equity 236520Inventory 100060Land 40940Building (net) 76230Equipment (net) 70820Trademarks 11150

439970 439970

Approximate Current Values Land 79590Inventory 125340Trademarks 16896

A)Cash 50640Accounts Receivable 90130Inventory 125340Land 79590Buildings 76230Equipment 70820Trademarks 16896Goodwill 101674 Accounts Payable 203450 Notes Payable 151650 Cash 256220

B)Trademarks has estimated life of 4 years RV 4472

124240.25

0.5

Amortization Expense 1553 Trademarks 1553

Months Remaining 6

Cost $382,700 $76,540 Materials Consumed $56,180 $56,180 Consulting Fees $101,300 $101,300 Personnel Costs $125,600 $125,600 Indirect Cost $52,030 $52,030 Materials Purchased $35,090

Expected Life 5 years

Straight Line $411,650

Legal Cost $22,560 Legal Defense $8,120

UL 10 years

A)2013 Amortization $2,256

BV $20,304 2014 Amortization $3,158

BV $25,266

B) No Use After 20172014 Amortazation $7,106 Now 2014

BV $21,318 3

C) Ignore B Now 2015FV $14,616 Start 2013FCF $15,786 2

2015 Amortiation $1,827 BV $12,789

Cash 761200 for PurchasePurchased showed on Balance sheetAssets 652000Liabilities 214500Owner's Equity 437500FV: Assets 806200FV: Tradename (included in Assets) 10160FV: Copyright (included in Assets) 36400Tradename: UL 5 yearsCopyright: UL 40 years

A)Montana Matt's Golf Inc.

Intangibles Section of Balance Sheet31-Dec-13

Trade Names 10160Copyrights 35945Good Will 169500Total Intangible Assets 215605

Amortization Expense 455

B)Amortization Expense 910 Copyrights 910

Montana Matt's Golf Inc.Intangibles Section of Balance Sheet

31-Dec-14Trade Names 10160Copyrights 35035Goodwill 169500Total Intangible Assets 214695

C)2015 Old Master Reporting BV 503500

FV 423400IV/GW 89400

ECF FVTrade names 9530 3550Copyrights 43200 23830

Loss on Impairment 86710 Goodwill 80100 Trade Names 6610

Schedule 1Copyright Cost 36400Amortization -455

35945

Schedule 2Purcahse Price 761200FV assets 806200FV Liabilities -214500FV net assets -591700Value assigned to Goodwill 169500

Schedule 1Cost 36400Amortization -1365

35035

Goodwill 80100Trade names 6610

FV:Reporting 423400Net ID Assets (X/GW) -334000

89400

Purchase 8000UL 4 years Months left in the year 6DDB MethodSV 1000First full year

4000 First Year2000 2015

3000