Reference no: EM131793903

Accounting Assignment

Required: Answer the following questions based on your examination of the Columbia Sportswear Company 201510-K (pdf file is on D2L).

1. What is the state of incorporation for Columbia Sportswear Company?
a. Michigan
b. Ohio
c. Delaware
d. Oregon

2. Columbia Sportswear Company products were sold in approximately how many countries in 2015?
a. 40
b. 65
c. 85
d. 100

3. The United States represented what percentage of net sales during 2015 for Columbia Sportswear Company?
a. 23.4%
b. 12.3%
c. 57.1%
d. 62.6.%

4. On which stock exchange is Columbia Sportswear Company traded?
a. Penny stocks
b. AMEX
c. NYSE
d. NASDAQ

5. What is the annual report that provides a comprehensive overview of the company's business and financial condition and includes audited financial statements?
a. SEC Form 8-K
b. SEC Form 10-K
c. SEC Form 10-Q
d. SEC Def 14-A

6. What is the SEC report that includes unaudited financial statements and provides a continuing view of the company's financial position during the year, and must be filed for each of the first three fiscal quarters of the company's fiscal year?
a. SEC Form 10-K
b. SEC Form 8-K
c. SEC Def 14-A
d. SEC Form 10-Q

7. Which was NOT listed as a significant risk factor for the Columbia Sportswear Company in 2015?
a. Not realizing the expected benefits of a joint venture in China.
b. The financial health of their customers.
c. Weather conditions including global climate change.
d. Operating in highly competitive markets.
e. All of the above are listed as significant risk factors

8. What covers three financial aspects of an enterprise's business - liquidity, capital resources, and results of operations? It requires management to highlight favorable or unfavorable trends and to identify significant events and uncertainties that affect these three factors.
a. Proxy statement
b. Statement of Retained Earnings
c. Press release
d. MD&A (Management's Discussion and Analysis)

9. Which is NOT a primary brand under Columbia Sportswear Company?
a. Mountain Hardwear
b. Sorel
c. Black Diamond
d. prAna
e. Columbia

10. Who was Columbia Sportswear Company'sChief Executive Officer in 2015?
a. Joseph P. Boyle
b. Gertrude Boyle
c. Timothy P. Boyle
d. Susan G. Popp
e. Stuart B. Redsun

11. What was the high and low price per share for Columbia SportswearCompany's common stock for the Fourth Quarter of 2015?
a. $44.13 and $36.09
b. $45.87 and $34.25
c. $66.00 and $43.56
d. $62.19 and $41.11

12. Who is Columbia Sportswear Company's auditor?
a. KPMG
b. Deloitte&Touche
c. PricewaterhouseCoopers
d. Ernst & Young

13. Did Columbia Sportswear Company get an "unqualified" opinion?
a. No
b. Yes

14. What are US publicly traded firmsrequired to file with the SEC when soliciting shareholder votes? This statement is useful in assessing how management is paid and potential conflict-of-interest issues with auditors. The statement includes: voting procedure and information; background information about the company's nominated directors; director compensation; executive compensation; a breakdown of audit and non-audit fees paid to the auditor
a. Press release
b. MD&A (Management's Discussion and Analysis)
c. Statement of Retained Earnings
d. Proxy statement

15. Does Columbia Sportswear Companyuse a One-Statement or Two-Statement approach to reporting total comprehensive income for 2015?
a. One-Statement Approach
b. Two-Statement Approach

16. Where does Columbia Sportswear Company discuss its accounting policies?
a. Notes to the financial statements
b. Item 7: Management Discussion and Analysis of Financial Condition and Results of Operations
c. All the above

17. Did Columbia Sportswear Company declare any cash dividends in 2015?
a. No
b. Yes

18. Did Columbia Sportswear Company have any dividends that were declared but not paid in 2015?
a. No
b. Yes

19. Compared to 2014, is Columbia Sportswear Company'scost of sales(dollar amount) going up or down in 2015?
a. Down
b. Up

20. Compared to 2014, is Columbia Sportswear Company's sales(dollar amount) going up or down in 2015?
a. Down
b. Up

21. Compared to 2014,is Columbia Sportswear Company'snet income (dollar amount) going up or down in 2015?
a. Down
b. Up

22. Does Columbia Sportswear Company report any discontinued operations in 2015?
a. No
b. Yes

23. Does Columbia Sportswear Company have any net income(loss) attributable to non-controlling interest
in 2015?
a. No
b. Yes

24. What is the numerator (in thousands) for the calculation of the 2015 Basic EPS of $2.48?
a. $198,844
b. $249,721
c. $137,173
d. $174,337

25. What is the denominator (in thousands) for the calculation of the 2015 Basic EPS of $2.48?
a. 70,162
b. 71,064
c. 69,807
d. 69,434

26. What is the denominator (in thousands) for the calculation of the 2015 Diluted EPS of $2.45?
a. 70,162
b. 71,064
c. 69,807
d. 70,681

27. What is a "classified" balance sheet?
a. A balance sheet that puts assets and liabilities in order of liquidity
b. A balance sheet that includes categories
c. A balance sheet that separates assets and liabilities into current and non-current sections
d. A balance sheet that has a restricted audience

28. Does Columbia Sportswear Company have a classified balance sheet?
a. No
b. Yes

29. What is an "accumulated deficit?"
a. This occurs when a company has generated more losses than profits for a given year.
b. This occurs when a company has generated more losses over its life than profits.
c. This occurs when a company pays dividends during a given year.
d. This occurs when a company pays dividends every year.

30. Is it possible for an accumulated deficit to ever go away?
a. No
b. Yes

31. Does Columbia Sportswear Company have retained earnings or an accumulated deficit in 2015?
a. Retained earnings
b. Accumulated deficit

32. What is the dollar amount(in thousands) of the retained earnings or accumulated deficit in 2015?
a. $1,157,733
b. $1,385,860
c. $1,255,070
d. $1,343,603

33. What types of items are included in Columbia Sportswear Company'sAccumulated Other Comprehensive Income?
a. Derivative Instruments
b. Foreign Currency Translation
c. Available-for-Sale Securities
d. All of the above

34. Columbia Sportswear Company measures inventories at lower of cost or market where cost is determined using:
a. Average Cost
b. Specific Identification
c. FIFO
d. LIFO

35. What is the dollar value of 12/31/15asset fair value measurements for Columbia Sportswear Companyusing the Level 1 fair value hierarchy? Level 2? Level 3 (in thousands)?
a. $185,090, $7,288 and $0, respectively
b. $145,823, $86,811, and $0, respectively
c. $0, $1,917, and $0, respectively
d. None of the above

36. Does Columbia Sportswear Company use the direct or indirect method for the Consolidated Statement of Cash Flows?
a. Indirect
b. Direct

37. Why doesn't Cash Flow from Operations equal Net Income?
a. The income statement includes non-cash items
b. The income statement is based on accruals
c. All of the above
d. None of the above

38. What does "cash equivalent" mean?
a. Cash and short-term, highly liquid investments with maturities of three months or less at date of purchase.
b. Cash and short-term, highly liquid investments with maturities of three months at the balance sheet date.
c. All of the above.
d. None of the above.

39. What was the number of Common Stock shares (in thousands) issued and outstanding for Columbia Sportswear Company at 12/31/15?
a. 69,277
b. 69,828
c. 250,000
d. 500,000

40. Columbia Sportswear Company acquired 100% of the equity interest inPrAnaLiving LLC during 2014. How much of the purchase price was allocated to Goodwill (in thousands)?
a. $188,467
b. $193,413
c. $ 10,021
d. $ 65,842
e. $ 54,156.