Question

The complete annual report, including the notes to the financial statements, is available at the company’s...

The complete annual report, including the notes to the financial statements, is available at the company’s website.

Instructions

A. Answer the following questions using TSMC’s (Taiwan Semiconductor Manufacturing Company) consolidated income statement.

  a. What was the percentage change in (1) sales (net revenue) and in (2) net income from 2018 to 2019?

  b. What was the company’s gross profit rate in 2018 and 2019?

  c. What was the company’s percentage of net income to net sales in 2018 and 2019? Comment on any trend in this percentage.

B. Answer the following questions using TSMC’s consolidated financial statements.

a. What was the total cost and book value of property, plant, and equipment at December 31, 2018?

b. What method or methods of depreciation are used by the company for financial reporting purpose?

c. What was the amount of depreciation expense for each of the year 2018 and 2019?

d. Where does the company disclose its intangible assets, and what types of intangibles did it have at December 31, 2018?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended...
Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 385,229 $ 295,117 $ 204,800 Cost of goods sold 231,908 185,924 131,072 Gross profit 153,321 109,193 73,728 Selling expenses 54,703 40,726 27,034 Administrative expenses 34,671 25,970 16,998 Total expenses 89,374 66,696 44,032 Income before taxes 63,947 42,497 29,696 Income tax expense 11,894 8,712 6,028 Net income $ 52,053 $ 33,785 $ 23,668 KORBIN...
The condensed financial statements of Ness Company for the years 2019 and 2020 are presented below....
The condensed financial statements of Ness Company for the years 2019 and 2020 are presented below. Ness Company Balance Sheets December 31 (in thousands) 2020 2019 Current assets    Cash and cash equivalents $360 $320    Accounts receivable (net) 510 380    Inventory 430 420    Prepaid expenses 120 140       Total current assets 1,420 1,260 Property, plant, and equipment (net) 430 360 Investments 1 10 Intangibles and other assets 480 550       Total assets $2,331 $2,180 Current liabilities $870 $860 Long-term liabilities 411 270 Stockholders’...
EYK5-9 Analyzing IFRS Financial Statements The 2017 financial statements of LVMH Moet Hennessey-Louis Vuitton S.A. are...
EYK5-9 Analyzing IFRS Financial Statements The 2017 financial statements of LVMH Moet Hennessey-Louis Vuitton S.A. are presented in Appendix C at the end of this book. LVMH is a Paris-based holding company and one of the world’s largest and best-known luxury goods com- panies. As members of the European Union, French companies are required to prepare their con- solidated (group) financial statements using International Financial Reporting Standards (IFRS). Using the company’s financial statements, calculate the company’s (a) gross profit percentage...
You are internal auditor for Shannon Supplies, Inc., and are reviewing the company’s preliminary financial statements....
You are internal auditor for Shannon Supplies, Inc., and are reviewing the company’s preliminary financial statements. The statements, prepared after making the adjusting entries, but before closing entries for the year ended December 31, 2018, are as follows: SHANNON SUPPLIES, INC. Balance Sheet December 31, 2018 ($ in 000s) Assets Cash $ 2,450 Investments 300 Accounts receivable, net 860 Inventory 1,110 Property, plant, and equipment 1,290 Less: Accumulated depreciation (510 ) Total assets $ 5,500 Liabilities and Shareholders’ Equity Accounts...
Rate of Change Analyses Teicher Company presents the following condensed comparative income statements for 2020, 2019,...
Rate of Change Analyses Teicher Company presents the following condensed comparative income statements for 2020, 2019, and 2018: For Years Ended December 31, 2020 2019 2018 Sales (net) $120,000 $100,000 $85,000 Cost of goods sold (72,000) (55,000) (45,000) Gross profit $48,000 $45,000 $40,000 Operating expenses (22,000) (20,000) (18,000) Operating income $26,000 $25,000 $22,000 Other items:     Dividend revenue 400 500 200     Interest expense (1,200) (1,000) (500) Income before income taxes $25,200 $24,500 $21,700 Income tax expense (8,200) (8,000) (6,000) Net income...
Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended...
Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 385,229 $ 295,117 $ 204,800 Cost of goods sold 231,908 185,924 131,072 Gross profit 153,321 109,193 73,728 Selling expenses 54,703 40,726 27,034 Administrative expenses 34,671 25,970 16,998 Total expenses 89,374 66,696 44,032 Income before taxes 63,947 42,497 29,696 Income tax expense 11,894 8,712 6,028 Net income $ 52,053 $ 33,785 $ 23,668 KORBIN...
Here are the abbreviated financial statements for Planner’s Peanuts: INCOME STATEMENT, 2019 Sales $ 3,000 Cost...
Here are the abbreviated financial statements for Planner’s Peanuts: INCOME STATEMENT, 2019 Sales $ 3,000 Cost 2,300 Net income $ 700 BALANCE SHEET, YEAR-END 2018 2019 2018 2019 Assets $ 3,500 $ 4,200 Debt $ 833 $ 2,000 Equity 2,667 2,200 Total $ 3,500 $ 4,200 Total $ 3,500 $ 4,200 a. If sales increase by 20% in 2020 and the company uses a strict percentage of sales planning model (meaning that all items on the income and balance sheet...
Here are the abbreviated financial statements for Planner’s Peanuts: INCOME STATEMENT, 2019 Sales $ 11,000 Cost...
Here are the abbreviated financial statements for Planner’s Peanuts: INCOME STATEMENT, 2019 Sales $ 11,000 Cost 8,700 Net income $ 2,300 BALANCE SHEET, YEAR-END 2018 2019 2018 2019 Assets $ 10,500 $ 11,500 Debt $ 853 $ 1,000 Equity 9,647 10,500 Total $ 10,500 $ 11,500 Total $ 10,500 $ 11,500 a. If sales increase by 25% in 2020 and the company uses a strict percentage of sales planning model (meaning that all items on the income and balance sheet...
[The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company...
[The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 484,546 $ 371,202 $ 257,600 Cost of goods sold 291,697 233,486 164,864 Gross profit 192,849 137,716 92,736 Selling expenses 68,806 51,226 34,003 Administrative expenses 43,609 32,666 21,381 Total expenses 112,415 83,892 55,384 Income before taxes 80,434 53,824 37,352 Income tax expense 14,961 11,034 7,582...
The 2013 financial statements for this company report the following information: Year ended December 31, 2013...
The 2013 financial statements for this company report the following information: Year ended December 31, 2013 2012 (In millions) Depreciation and amortization expense $ 90.1 $ 90.4 Property and equipment, net 574.6 572.8 Land 44.5 45.3 Accumulated depreciation and amortization 1,266.6 1,237.4 a. By what percentage are the assets ‘used up’ at the year-end 2013? What implication does this ratio have for future cash flows at this company? b. Estimate the useful life on average for this companys assets.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT