財(cái)務(wù)管理實(shí)務(wù)（第二版）習(xí)題答案 情境十 參考答案

PAGEPAGE5情境十財(cái)務(wù)分析一、職業(yè)能力訓(xùn)練（一）單選題1.D2.B3.B4.D5.A6.B7.C8.D9.C10.D11.B12.B13.D14.A15.D（二）多選題1.ABC2.ABCD3.AD4.BC5.ACD6.CD7.BD8.ABCD9.ACD10.BCD（三）判斷題1.×2.√3.×4.√5.√6.×7.×8.√9.×10.√二、職業(yè)技能訓(xùn)練（一）計(jì)算分析1．年末流動資產(chǎn)總額＝年末負(fù)債×流動比率＝35×2＝70萬元年末資產(chǎn)負(fù)債率＝年末負(fù)債總額÷年末資產(chǎn)總額=（35＋35）÷200＝35%年末存貨＝流動資產(chǎn)—流動負(fù)債×速動比率＝70－35×1.2＝28銷售成本＝[（年初存貨＋年末存貨）÷2]×存貨周轉(zhuǎn)率＝[（30＋28）÷2]×5＝145銷售收入＝年末總資產(chǎn)×資產(chǎn)周轉(zhuǎn)率＝200×0.8＝160凈利潤＝銷售收入×銷售凈利率＝160×21%＝33.6凈資產(chǎn)收益率＝凈利潤÷凈資產(chǎn)＝33.6÷（200－35－35）＝25.85%2．（1）平均存貨＝銷售成本÷存貨周轉(zhuǎn)率＝315000÷4.5＝70000∵期初存貨等于期末存貨∴期初存貨＝期末存貨＝70000負(fù)債總額＝產(chǎn)權(quán)比率×所有者權(quán)益＝0.8×240000＝192000資產(chǎn)總額＝負(fù)債總額＋所有者權(quán)益＝192000＋240000＝432000應(yīng)收賬款凈額＝資產(chǎn)總額－（固定資產(chǎn)凈額＋貨幣資金＋存貨）＝432000—（294000＋25000＋70000）＝43000流動資產(chǎn)＝貨幣資金＋存貨＋應(yīng)收賬款凈額＝25000＋70000＋43000＝138000流動負(fù)債＝流動資產(chǎn)÷流動比率＝138000÷1.5＝92000非流動負(fù)債＝負(fù)債總額－流動負(fù)債＝192000－92000＝100000所以，根據(jù)上述計(jì)算，大步公司2019年12月31日資產(chǎn)負(fù)債表簡表如下：2019年12月31日單位：元資產(chǎn)金額負(fù)債及所有者權(quán)益金額貨幣資金25000流動負(fù)債92000應(yīng)收賬款凈額43000

存貨70000非流動負(fù)債100000固定資產(chǎn)凈額294000所有者權(quán)益240000資產(chǎn)總計(jì)432000負(fù)債及所有者權(quán)益合計(jì)432000（2）應(yīng)收賬款周轉(zhuǎn)率＝銷售收入÷應(yīng)收賬款平均余額＝430000÷43000＝10次應(yīng)收賬款周轉(zhuǎn)期＝360÷應(yīng)收賬款周轉(zhuǎn)率＝360÷10＝36天3．非流動負(fù)債＝所有者權(quán)益×0.5＝200×0.5＝100負(fù)債及所有者權(quán)益合計(jì)＝應(yīng)付賬款＋非流動負(fù)債＋實(shí)收資本＋留存收益＝100＋100＋100＋100＝400資產(chǎn)合計(jì)＝負(fù)債及所有者權(quán)益合計(jì)＝400銷售收入＝總資產(chǎn)×總資產(chǎn)周轉(zhuǎn)率＝400×2.5＝1000應(yīng)收賬款周轉(zhuǎn)率＝360÷平均收賬期＝360÷18＝20次應(yīng)收賬款＝銷售收入÷應(yīng)收賬款周轉(zhuǎn)率＝1000÷20＝50銷售成本＝銷售收入－銷售收入×銷售毛利率＝1000－1000×10％＝900存貨＝銷售成本÷存貨周轉(zhuǎn)率＝900÷9＝100固定資產(chǎn)＝資產(chǎn)合計(jì)－貨幣資金－應(yīng)收賬款－存貨＝400－50－50－100＝200（二）案例分析（略）三、模擬實(shí)訓(xùn)1．（1）流動比率=12790÷5830＝2.19（2）速動比率＝（12790－80－2820）÷5830＝1.56（3）資產(chǎn)負(fù)債率＝（5830＋1615）÷20850＝35.7%（4）應(yīng)收賬款周轉(zhuǎn)率＝49000÷[（3500＋3885）÷2]=13.27次（5）存貨周轉(zhuǎn)率＝27500÷[（2610＋2820）÷2]=10.13次（6）流動資產(chǎn)周轉(zhuǎn)率＝49000÷[（1011＋1279）÷2]=4.3次（7）總資產(chǎn)周轉(zhuǎn)率＝49000÷[（16900＋20850）÷2]=2.6次（8）產(chǎn)權(quán)比率＝（585＋161.5）÷1340.5＝0.56（9）利息保障倍數(shù)＝（14875＋195）÷195＝77.28倍（10）營業(yè)利潤率＝1480.5÷4900＝30.21%（11）成本費(fèi)用利潤率＝1487.5÷（2750+245+175+275+195）＝42.94%（12）總資產(chǎn)報(bào)酬率＝(1487.5+19.5)÷[（1690＋2085）÷2]＝79.8%（13）凈資產(chǎn)收益率＝9965÷[（1066.5＋1340.5）÷2]＝82.8%2．大步公司資產(chǎn)與負(fù)債單位：萬元2018年2019年差額資產(chǎn)總額2500＋500＋500＝35003500＋500＝4000500流動資產(chǎn)3500－2000＝15004000－2000＝2000500負(fù)債總額3500×45%＝15754000×50%＝2000425流動負(fù)債1925×0.6＝11552000×0.55＝1100－55非流動負(fù)債1575－1155＝4202000－1100＝900480分析：a：2019年比2018年資產(chǎn)總額增加500萬元，主要是流動資產(chǎn)增加所致（2000－1500）。b:2019年比2018年負(fù)債總額增加425萬元，其原因是非流動負(fù)債增加480萬元，流動負(fù)債減少55萬元，兩者相抵后負(fù)債凈增425萬元。（2）2018年2019年差額流動比率1500/1155=1.32000/1100=1.820.52存貨1500－1155×0.65＝7502000－1100×0.8＝1120670存貨周轉(zhuǎn)率4920/750=6.655760/1120=5.14-1.42應(yīng)收賬款周轉(zhuǎn)率360/72=5360/45=83分析2019年比2018年流動比率增加0.52，其原因是：a：存貨周轉(zhuǎn)率減少1.42；b：應(yīng)收賬款周轉(zhuǎn)率增加3次，應(yīng)收賬款周轉(zhuǎn)率提高的幅度大于存貨周轉(zhuǎn)率降低的幅度。（3）項(xiàng)目2018年2019年差額資產(chǎn)周轉(zhuǎn)率6000/3500=1.717200/4000=1.80.09銷售凈利率600/6000=10%800/7200=11%1%資產(chǎn)凈利率1.71×10%=17.1%11%×1.8=20%2.9%分析：2019年比2018年資產(chǎn)凈利率提高2.9%，其原因是：銷售凈利率2019年比2018年提高1%，資產(chǎn)周轉(zhuǎn)率2019年比2018年提高0.09。（4）權(quán)益乘數(shù)：2018年＝1÷（1－45%）＝1.822019年＝1÷（1－50%）＝2凈資產(chǎn)收益率＝銷售凈利率×資產(chǎn)周轉(zhuǎn)率×權(quán)益乘數(shù)2018年：31.12%＝10%×1.17×1.822019年：39.6%＝11%×1.8×2分析：凈資產(chǎn)收益率2019年比2018年增加8.48%，其原因是銷售凈利率增加1%，資產(chǎn)周轉(zhuǎn)率0.09，權(quán)益乘數(shù)擴(kuò)大0.18。附：情境導(dǎo)入?yún)⒖即鸢副?0-3藍(lán)宇電器資產(chǎn)負(fù)債表水平分析表單位：千元日期/項(xiàng)目2019/12/312018/12/31變動額變動率（%）對總資產(chǎn)的影響（%）資產(chǎn)流動資產(chǎn)貨幣資金19,351,83821,960,978-2,609,140-11.88%-7.28%交易性金融產(chǎn)-7,378應(yīng)收票據(jù)2,5056,874-4,369-63.56%-0.01%應(yīng)收賬款1,104,611347,024757,587218.31%2.11%預(yù)付款項(xiàng)2,741,405947,9241,793,481189.20%5.00%應(yīng)收利息31,38532,376-991-3.06%0.00%應(yīng)收股利--0.00%其他應(yīng)收款975,737110,975864,762779.24%2.41%存貨9,474,4496,326,9953,147,45449.75%8.78%其他流動資產(chǎn)793,656455,740337,91674.15%0.94%流動資產(chǎn)合計(jì)34,475,58630,196,2644,279,32214.17%11.94%非流動資產(chǎn)00.00%長期應(yīng)收款130,76888,45042,31847.84%0.12%長期股權(quán)投資792,896597,374195,52232.73%0.55%投資性房地產(chǎn)387,134339,95847,17613.88%0.13%固定資產(chǎn)3,914,3172,895,9711,018,34635.16%2.84%在建工程2,061,752408,5281,653,224404.68%4.61%無形資產(chǎn)1,309,337764,874544,46371.18%1.52%開發(fā)支出22,12558,513-36,388-62.19%-0.10%商譽(yù)616-0.00%長期待攤費(fèi)用529,531237,942291,589122.55%0.81%遞延所得稅資產(chǎn)283,320251,95831,36212.45%0.09%非流動資產(chǎn)合計(jì)9,431,7965,643,5683,788,22867.12%10.57%資產(chǎn)總計(jì)43,907,38235,839,8328,067,55022.51%22.51%流動負(fù)債00.00%短期借款317,789-0.00%應(yīng)付票據(jù)14,277,32013,999,191278,1291.99%0.78%應(yīng)付賬款6,839,0245,003,1171,835,90736.70%5.12%預(yù)收款項(xiàng)393,820276,792117,02842.28%0.33%應(yīng)付職工薪酬201,295139,53061,76544.27%0.17%應(yīng)交稅費(fèi)525,75301,542224,20874.35%0.63%應(yīng)付股利9,397-0.00%其他應(yīng)付款1,539,020666,391872,629130.95%2.43%一年內(nèi)到期的非流動負(fù)債112,17897,12815,05015.50%0.04%其他流動負(fù)債318,755235,14883,60735.56%0.23%流動負(fù)債合計(jì)24,534,34820,718,8393,815,50918.42%10.65%非流動負(fù)債00.00%遞延所得稅負(fù)債34,3956,73927,656410.39%0.08%其他非流動負(fù)債493,248189,271303,977160.60%0.85%非流動負(fù)債合計(jì)527,643196,010331,633169.19%0.93%負(fù)債合計(jì)25,061,99120,914,8494,147,14219.83%11.57%股東權(quán)益00.00%股本6,996,2124,664,1412,332,07150.00%6.51%資本公積655,2882,975,652-2,320,364-77.98%-6.47%盈余公積746,529517,465229,06444.27%0.64%未分配利潤9,932,8666,383,3173,549,54955.61%9.90%外幣報(bào)表折算差額7,294-2297,523-3285.15%0.02%歸屬于母公司股東權(quán)益合計(jì)18,338,18914,540,3463,797,84326.12%10.60%少數(shù)股東權(quán)益507,202384,637122,56531.87%0.34%股東權(quán)益合計(jì)18,845,39114,924,9833,920,40826.27%10.94%負(fù)債及股東權(quán)益總計(jì)43,907,38235,839,8328,067,55022.51%22.51%表10-4 藍(lán)宇電器資產(chǎn)負(fù)債表垂直分析表 金額單位：千元日期/項(xiàng)目2019/12/312018/12/312019（%）2018（%）變動幅度（%）資產(chǎn)流動資產(chǎn)貨幣資金19,351,83821,960,97844.07%61.28%-17.21%交易性金融資產(chǎn)-7,3780.02%-0.02%應(yīng)收票據(jù)2,5056,8740.01%0.02%-0.01%應(yīng)收賬款1,104,611347,0242.52%0.97%1.55%預(yù)付款項(xiàng)2,741,405947,9246.24%2.64%3.60%應(yīng)收利息31,38532,3760.07%0.09%-0.02%應(yīng)收股利--0.00%其他應(yīng)收款975,737110,9752.22%0.31%1.91%存貨9,474,4496,326,99521.58%17.65%3.93%其他流動資產(chǎn)793,656455,7401.81%1.27%0.54%流動資產(chǎn)合計(jì)34,475,58630,196,26478.52%84.25%-5.73%非流動資產(chǎn)0.00%0.00%0.00%長期應(yīng)收款130,76888,4500.30%0.25%0.05%長期股權(quán)投資792,896597,3741.81%1.67%0.14%投資性房地產(chǎn)387,134339,9580.88%0.95%-0.07%固定資產(chǎn)3,914,3172,895,9718.91%8.08%0.83%在建工程2,061,752408,5284.70%1.14%3.56%無形資產(chǎn)1,309,337764,8742.98%2.13%0.85%開發(fā)支出22,12558,5130.05%0.16%-0.11%商譽(yù)616-0.00%0.00%長期待攤費(fèi)用529,531237,9421.21%0.66%0.55%遞延所得稅資產(chǎn)283,320251,9580.65%0.70%-0.05%非流動資產(chǎn)合計(jì)9,431,7965,643,56821.48%15.75%5.73%資產(chǎn)總計(jì)43,907,38235,839,8320.00%100.00%-100.00%流動負(fù)債0.00%0.00%0.00%短期借款317,789-0.72%0.72%應(yīng)付票據(jù)14,277,32013,999,19132.52%39.06%-6.54%應(yīng)付賬款6,839,0245,003,11715.58%13.96%1.62%預(yù)收款項(xiàng)393,820276,7920.90%0.77%0.13%應(yīng)付職工薪酬201,295139,5300.46%0.39%0.07%應(yīng)交稅費(fèi)525,750301,5421.20%0.84%0.36%應(yīng)付股利9,397-0.02%0.02%其他應(yīng)付款1,539,020666,3913.51%1.86%1.65%一年內(nèi)到期的非流動負(fù)債112,17897,1280.26%0.27%-0.01%其他流動負(fù)債318,755235,1480.73%0.66%0.07%流動負(fù)債合計(jì)24,534,34820,718,83955.88%57.81%-1.93%0.00%0.00%0.00%非流動負(fù)債0.00%0.00%0.00%遞延所得稅負(fù)債34,3956,7390.08%0.02%0.06%其他非流動負(fù)債493,248189,2711.12%0.53%0.59%非流動負(fù)債合計(jì)527,643196,0101.20%0.55%0.65%0.00%0.00%0.00%負(fù)債合計(jì)25,061,99120,914,84957.08%58.36%-1.28%0.00%0.00%0.00%股東權(quán)益0.00%0.00%0.00%股本6,996,2124,664,14115.93%13.01%2.92%資本公積655,2882,975,6521.49%8.30%-6.81%盈余公積746,529517,4651.70%1.44%0.26%未分配利潤9,932,8666,383,31722.62%17.81%4.81%外幣報(bào)表折算差額7,294-2290.02%0.00%0.02%歸屬于母公司股東權(quán)益合計(jì)18,338,18914,540,34641.77%40.57%1.20%少數(shù)股東權(quán)益507,202384,6371.16%1.07%0.09%股東權(quán)益合計(jì)18,845,39114,924,98342.92%41.64%1.28%負(fù)債及股東權(quán)益總計(jì)43,907,38235,839,832100.00%100.00%0.00%存貨分析：主要是觀察存貨的增減變動原因。藍(lán)宇電器2019年度期末存貨余額9,474,449千元，2018年度期末存貨為6,326,995千元。2019年期末存貨比2018年末增加了3147454千元，增幅為49.746%，對總資產(chǎn)的影響為使總資產(chǎn)規(guī)模上升了8.78%，是所有各項(xiàng)資產(chǎn)中對總資產(chǎn)規(guī)模影響最大的項(xiàng)目。這主要是因?yàn)楣踞槍鹘y(tǒng)元旦銷售旺季，積極開展備貨工作，且公司連鎖店規(guī)模增加較快，由此帶來期末存貨較期初有了較大幅度的上升。表10-5藍(lán)宇電器存貨近五年的變化表（金額單位：千元）日期項(xiàng)目2019/12/31201