Financial Accounting

Get the grades you deserve thru our step by step guide on your MITx MicroMasters Finance - Financial Accounting MITx - 15.516x
Write your awesome label here.
Week 10: Course Review (Tesla)
Tesla Problem Set

For the fiscal year ended December 31, 2019, Tesla recorded a change in its valuation allowance for deferred tax assets. Use the Balance Sheet Equation (BSE) to record this transaction.
Week 9: Banks

Week 8: Shareholders' Equity and Earnings Per Share
Problem Set 8

Regardless of your answer to Part B, suppose that Thermo Fisher repurchased 7 million shares in the fiscal year ended December 31, 2017. Assume that all of these shares were repurchased on January 1, 2017, and further assume that Thermo Fisher earns no interest on cash. What would Basic Earning Per Share have been if there were no repurchase? For this question, round your answer to two decimal places.
Week 7: Long-Term Debt; Leases
Problem Set 7

The following table contains information about Zoltan’s contractual obligations as of December 31, 2019.
Week 6: Introductory FSA (Part A) & Income Taxes (Part B)
Problem Set 6

The following tables contain summary Balance Sheets and Income Statements for Harley-Davidson (the motorcyle manufacturer) for the fiscal years ended December 31, 2017 and 2016
Week 5: Acquisitions/Financial Investments
Problem Set 5

Consider again AT&T's purchase of DirectTV. The pre-merger balance sheets are shown in the table below, as is AT&T's balance sheet pro forma for the purchase of DirectTV. For this problem, assume:

 1. The purchase was for $57,000 million in stock (no cash).
 2. There was no change in the value of DirecTV's Cash, Other Tangible Assets, or Total Liabilities.
 3. Intangible Assets were re-valued upward by $40,000 million to $40,790 million. This $40,000 million represents the value of internally developed patents not previously recorded in DirecTV's assets.

Compute the remaining amounts A,B,C,D, and E in column 3 of the table.
Week 4: Intangible Assets; Statement of Cash Flows
Problem Set 4

Accruals are the difference between net income and cash flow from operations, that is:
Net Income = Cash Flow from Operations + Accruals
Accruals = Net Income - Cash Flow from Operations
For each of the following transactions indicate whether Net Income, Cash Flow from Operations, and Accruals would be higher, lower, or unchanged as a result of the transaction.
Example: Records and pays interest of $120
Net Income: -$120 (lower)
Cash Flow from Operations: -$120 (lower)
Accruals: $0 (unchanged)
Week 3: Inventory and IFRS; Long-Term Assets
Problem Set 3

The following information comes from Walgreens’ financial statements for the period ending August 31, 2017 and 2016:
"At August 31, 2017 and 2016 inventories would have been greater by $2.4 billion and $2.5 billion, respectively, if they had been valued on a lower of first-in-first-out (“FIFO”) cost or market basis. The total carrying value of inventory accounted for under the LIFO method is $5.9 billion and $6.1 billion at August 31, 2017 and 2016, respectively.”
What is the value of Walgreen’s inventory at August 31, 2017 if it had been valued under FIFO?
Week 2: Revenue Recognition; Allowance Accounting
Problem Set 2

Attila, Inc. reported the following amounts in its 2018 and 2017 annual reports.
Week 1: Overview; Introduction to Financial Accounting
Problem Set 1

At the beginning of a recent year, JetBlue Airways Corporation's assets were $7,070 million and its equity was $1,888 million. During the year, assets increased by $316 million and liabilities increased by $54 million. What was its equity at the end of the year?

Want to know more ... | Can't wait to score? | Want to get admitted to MIT? | Subscribe to score!!!

Sign up now and get more than 50% off the rack discount!

We can't tell you how we are your best tutor and the answer key to your exams and studies; however, it does have value beyond scoring in your MITx work.
In fact, if you want to get the credentials and not waste your monies for MIT's admission into the SCM program, and have the best learning experience possible, then, you need to use theexamhelper to its full potential. And that applies to the materials as well as supplemental materials – wherever theexamhelper's Solution Key that has explanations and solutions.
What Are the Benefits of Using theexamhelper's Solution Key?

There are 3 main benefits from following this process for completing and reviewing your work.
  • Enhanced Understanding of the Concepts Covered
  • Improved Self-teaching Skills
  • Advanced Progress Tracking
  • Get high scores for your exams
  • Become a Super Learner
  • Get admitted into MIT's Masters in Applied Science in Supply Chain Management in MIT

Our Students work at these places




Special offer

For a limited time!

Why wait? Pay now or pay later, get the same solutions!
50% OFF
Sign up now to enjoy 50% off! While course last.
Created with