Final Essay ExamGEOL 108For this final essay exam you are re.docx

Final Essay Exam
GEOL 108
For this final essay exam you are required to answer all five (5)
of the questions. Although there is no set word limit for these
essay questions, you will be greaded on your knowledge of the
material and the detail with which you write your answers. You
should take care to cite your sources in APA format and provide
full references in a Works Cited list.
1. Describe the paths of water through the hydrologic cycle.
Explain the processes and the energy gains and losses involved
in the changes of water between its 3 states. Operationally, we
often most concerned with water does when it reaches the solid
earth, both on the surface and in the sub-surface. Explain the
relationship between the saturated zone, the water table, a
ground water well and the cone of depression, all within the
sub-surface.
2. The food chain is a valuable concept in biogeography. Give
an example of a specific food chain, labeling the various levels
of the food chain. After looking at characteristics of food
chains, explain how a geographer’s approach to the study of
organisms might be different than biologist’s study of
organisms; what would each try to emphasize more than the
other? What exactly is a biome? Compare/contrast the concept
of the biome with that of the zoogeographic region.
Compare/contrast the floral characteristics of 2 of the following
biomes: Desert, Tundra, Midlatitude Grassland and Boreal
Forest.
3. Theorize the difference in soil development in adjoining soils
developed on forested, sloped area versus a grassed flat area.
What are the soil-forming factors? Explain the importance of
the nature of the parent material to soil formation and type.

Then, cite at least 2 examples in which the influence of parent
materials might be outweighed by other soil-forming factors.
Explain the “struggle” between the internal and external
processes in shaping the Earth’s surface. What are the different
ways that the surface of the Earth is changed over time?
4. Describe the general sequence of events in continental drift
since the time of 5 separate continents 450 million years ago.
What is the difference between the older continental drift theory
by Wegener and the more recent plate tectonic theory? Plate
tectonics theory explains many seemingly unrelated phenomena.
Explain how the patterns of volcanoes and earthquakes related
to plate tectonics. Explain several pieces of evidence that
combine to make the theory of plate tectonics the one that is
generally accepted.
5. Provide a reason why some scientists believe the Pleistocene
is over and a reason why other scientists believe we are now in
an interglacial stage. Some believe, for example, that since
areas of pack ice and glacial ice still exist we are still in an ice
age. Others, on the other hand, seeing the rapid retreat of ice
and snow pack in many areas, believes that this period of
glaciation has ended. So, using some other justifications, why
do we see some differences in interpretation? Is there some
scientific data available that can support both sides view? If so,
provide it. Why hasn’t this controversy been solved? What
impact does this division of views have on the public policies
that are enacted by state, national and international bodies?
ACC 556 – Financial Accounting for Managers
Chapter 21 Homework

Due Week 8 and worth 10 points
Directions: Answer the following four questions on a separate
document. Explain how you reached the answer or show your
work if a mathematical calculation is needed, or both. Submit
your homework assignment using the homework assignment link
in the course shell.
E21-1
Adler Company has always done some planning for the future,
but the company has never prepared a formal budget. Now that
the company is growing larger, it is considering preparing a
budget.
Instructions:
Write a memo to Jim Dixon, the president of Adler Company, in
which you define budgeting, identify the budgets that comprise
the master budget, identify the primary benefits of budgeting,
and discuss the essentials of effective budgeting.
E21-2
Edington Electronics Inc. produces and sells two models of
pocket calculators, XQ-103 and XQ-104. The calculators sell
for $15 and $25, respectively. Because of the intense
competition Edington faces, management budgets sales
semiannually. Its projections for the first 2 quarters of 2014 are
as follows.
Unit Sales
Product
Quarter 1
Quarter 2
XQ-103

20,000
22,000
XQ-104
12,000
15,000
No changes in selling prices are anticipated.
Instructions:
Prepare a sales budget for the 2 quarters ending June 30, 2014.
List the products and show for each quarter and for the 6
months, units, selling price, and total sales by product and in
total.
E21-8
Rodriguez, Inc., is preparing its direct labor budget for 2014
from the following production budget based on a calendar year.
Quarter
Units
Quarter
Units
1
20,000
3
35,000
2
25,000
4
30,000
Each unit requires 1.5 hours of direct labor.
Instructions:
Prepare a direct labor budget for 2014. Wage rates are expected
to be $16 for the first 2 quarters and $18 for quarters 3 and 4.
E21-16

The controller of Trenshaw Company wants to improve the
company’s control system by preparing a month-by-month cash
budget. The following information is for the month ending July
31, 2014.
June 30, 2014, cash balance
$45,000
Dividends to be declared on July 15*
12,000
Cash expenditures to be paid in July for operating expenses
40,800
Amortization expense in July
4,500
Cash collections to be received in July
90,000
Merchandise purchases to be paid in cash in July
56,200
Equipment to be purchased for cash in July
20,000
*Dividends are payable 30 days after declaration to
shareholders of record on the declaration date.
Trenshaw Company wants to keep a minimum cash balance of
$25,000.
Instructions:
(a) Prepare a cash budget for the month ended July 31, 2014,
and indicate how much money, if any, Trenshaw Company will
need to borrow to meet its minimum cash requirement.
(b) Explain how cash budgeting can reduce the cost of short-
term borrowing.
ACC 556 Chapter 21 Homework 1152 (1148 11-11-2014)
Page 1 of 2
Description / Instructions: Week 10-chapter 13 Homework

Assignment
[removed]
Exercise 13-13
The condensed financial statements of Elliott Company for the
years 2013 and 2014 are presented below.
ELLIOTT COMPANY
Balance Sheets
December 31 (in thousands)
2014
2013
Current assets Cash and cash equivalents$330
$360
Accounts receivable (net)534
464
Inventory629
559
Prepaid expenses130
160
Total current assets1,623
1,543
Property, plant, and equipment (net)410
380
Investments74
74
Intangibles and other assets530
510
Total assets$2,637
$2,507
Current liabilities$884
$854
Long-term liabilities649
549
Stockholders’ equity—common1,104

1,104
Total liabilities and stockholders’ equity$2,637
$2,507
ELLIOTT COMPANY
Income Statements
For the Year Ended December 31 (in thousands)
2014
2013
Sales revenue$3,969
$3,629
Costs and expenses Cost of goods sold1,034
954
Selling & administrative expenses2,400
2,330
Interest expense10
20
Total costs and expenses3,444
3,304
Income before income taxes525
325
Income tax expense210
130
Net income$ 315
$ 195
Compute the following ratios for 2014 and 2013. (Round all
answers to 2 decimal places, e.g. 1.83 or 12.61%.)
(a)Current ratio.(b)Inventory turnover. (Inventory on December
31, 2012, was $410.)(c)Profit margin.(d)Return on assets.
(Assets on December 31, 2012, were $2,870.)(e)Return on
common stockholders’ equity. (Equity on December 31, 2012,
was $920.)(f)Debt to assets ratio.(g)Times interest earned.2014
2013
Current ratio. :1 :1Inventory turnover.Profit margin. % %Return

on assets. % %Return on common stockholders’
equity. % %Debt to assets ratio. % %Times interest
earned. times times
Warning
Don't show me this message again for the assignmentOkCancel
[removed]
Exercise 13-2
The Wall Street Journal routinely publishes summaries of
corporate quarterly and annual earnings reports in a feature
called the “Earnings Digest.” A typical “digest” report takes the
following form.
ENERGY ENTERPRISES (A)
Quarter ending July 31
2014
2013
Sales revenue$2,049,000,000$1,754,000,000Net
income97,000,000(a) 68,750,000EPS: Net income1.280.9312
months ending July 31
2014
2013
Sales revenue$5,578,500,000$5,065,300,000Extraordinary
item(b) 1,900,000Net income102,700,000(a) 33,250,000EPS:
Net income1.360.48(a)Includes a net charge of $26,000,000
from loss on the sale of electrical equipment(b)Extraordinary
gain on Middle East property expropriation
The letter in parentheses following the company name indicates
the exchange on which Energy Enterprises’ stock is traded—in
this case, the American Stock Exchange.
Answer the following questions.
(a)How was the loss on the electrical equipment reported on the

income statement? Was it reported in the fourth quarter of
2013? How can you tell?(b)Why did the Wall Street Journal list
the extraordinary item separately?(c)What is the extraordinary
item? Was it included in income for the fourth quarter? How
can you tell?(d)Did Energy Enterprises have an operating loss
in any quarter of 2013? Of 2014? How do you
know?(e)Approximately how many shares of stock were
outstanding in 2014? Did the number of outstanding shares
change from July 31, 2013 to July 31, 2014?(f)As an investor,
what numbers should you use to determine Energy Enterprises’
profit margin? Calculate the profit margin for 2013 and 2014
that you consider most useful. Explain your decision.
Warning
[removed]
Exercise 13-7
Nordstrom, Inc. operates department stores in numerous states.
Suppose selected financial statement data (in millions) for 2014
are presented below.
End of Year
Beginning of Year
Cash and cash equivalents$ 792
$ 80
Accounts receivable (net)1,932
1,852
Inventory899
918
Other current assets652
426
Total current assets$4,275
$3,276
Total current liabilities$2,065
$1,630

For the year, net credit sales were $8,259 million, cost of goods
sold was $5,297 million, and net cash provided by operating
activities was $1,349 million.
Compute the current ratio, current cash debt coverage , accounts
receivable turnover, average collection period, inventory
turnover and days in inventory at the end of the current year.
(Round all answers to 2 decimal places, e.g. 1.83.)
Current ratio :1Current cash debt coverageAccounts receivable
turnover timesAverage collection period daysInventory
turnover timesDays in inventory days
Warning
[removed]
Exercise 13-9
Kinder Company has these comparative balance sheet data:
KINDER COMPANY
Balance Sheets
December 31
2014
2013
Cash$ 19,845
$ 39,690
Accounts receivable (net)92,610
79,380
Inventory79,380
66,150
Plant assets (net)264,600
238,140
$456,435

$423,360
Accounts payable$ 66,150
$ 79,380
Mortgage payable (15%)132,300
132,300
Common stock, $10 par185,220
158,760
Retained earnings72,765
52,920
$456,435
$423,360
Additional information for 2014:
1.Net income was $35,500.2.Sales on account were $394,000.
Sales returns and allowances amounted to $26,600.3.Cost of
goods sold was $220,600.4.Net cash provided by operating
activities was $57,500.5.Capital expenditures were $29,200, and
cash dividends were $14,100.
Compute the following ratios at December 31, 2014. (Round all
answers to 2 decimal places, e.g. 1.83.)
(a)Current ratio. :1(b)Accounts receivable
turnover. times(c)Average collection period. days(d)Inventory
turnover. times(e)Days in inventory. days(f)Cash debt coverage
ratio. times(g)Current cash debt coverage ratio. times(h)Free
cash flow.$
Warning
Description / Instructions: Week 9-chapter 12 Homework
Assignment

[removed]
Exercise 12-1
Putnam Corporation had these transactions during 2014.
Analyze the transactions and indicate whether each transaction
resulted in a cash flow from operating activities, investing
activities, financing activities, or noncash investing and
financing activities.
(a)Purchased a machine for $30,000, giving a long-term note in
exchange.(b)Issued $50,000 par value common stock for
cash.(c)Issued $200,000 par value common stock upon
conversion of bonds having a face value of
$200,000.(d)Declared and paid a cash dividend of
$13,000.(e)Sold a long-term investment with a cost of $15,000
for $15,000 cash.(f)Collected $16,000 of accounts
receivable.(g)Paid $18,000 on accounts payable.
Warning
[removed]
Exercise 12-6
The following information is available for Ramos Corporation
for the year ended December 31, 2014.
Beginning cash balance$ 51,840Accounts payable
decrease4,262Depreciation expense186,624Accounts receivable
increase9,446Inventory increase12,672Net income327,283Cash
received for sale of land at book value40,320Cash dividends
paid13,824Income taxes payable increase5,414Cash used to
purchase building332,928Cash used to purchase treasury
stock29,952Cash received from issuing bonds230,400
Prepare a statement of cash flows using the indirect method.

(Show amounts that decrease cash flow with either a - sign e.g.
-15,000 or in parenthesis e.g. (15,000).)
RAMOS CORPORATION
Statement of Cash Flows—Indirect Method
For the Year Ended December 31, 2014
$Adjustments to reconcile net income to
$$
Warning
[removed]
Exercise 12-9
Suppose Presented below is 2014 information for PepsiCo, Inc.
and The Coca-Cola Company.
($ in millions)
PepsiCo
Coca-Cola
Net cash provided by operating activities
$6,154$8,527Average current liabilities8,94713,286Average
total liabilities21,13821,930Net income5,6537,403Sales
revenue42,83431,868Capital expenditures2,2011,921Dividends
paid2,6833,677
Using the cash-based measures presented compute the liquidity
and solvency of the two companies. (Round ratios to 2 decimal
places, e.g. 2.56.)
PepsiCo
Coca-Cola
Liquidity times timesSolvency times timesFree cash flow$$
Warning

[removed]
Exercise 12-14
The following information is available for Taliaferro Corp. for
2014.
Cash used to purchase treasury stock$ 106,061Cash dividends
paid48,069Cash paid for interest49,392Net
income1,023,782Sales revenue1,768,410Cash paid for
taxes218,295Cash received from customers1,248,251Cash
received from sale of building (at book value)435,708Cash paid
for operating expenses169,785Beginning cash
balance24,255Cash paid for goods and services615,416Cash
received from issuing common stock782,775Cash paid to
redeem bonds at maturity441,000Cash paid to purchase
equipment249,606
Prepare a statement of cash flows using the direct method.
(Show amounts that decrease cash flow with either a - sign e.g.
-15,000 or in parenthesis e.g. (15,000).)
TALIAFERRO CORP.
Statement of Cash Flows—Direct Method
For the Year Ended December 31, 2014
$: $$
Warning
ACC 556 – Financial Accounting for Managers
Chapter 22 Homework
Due Week 8 and worth 10 points

Directions: Answer the following four questions on a separate
document. Explain how you reached the answer or show your
work if a mathematical calculation is needed, or both. Submit
your homework assignment using the homework assignment link
in the course shell.
E22-1
Mike Trusler has prepared the following list of statements about
budgetary control.
1. Budget reports compare actual results with planned
objectives.
2. All budget reports are prepared on a weekly basis.
3. Management uses budget reports to analyze differences
between actual and planned results and determine their causes.
4. As a result of analyzing budget reports, management may
either take corrective action or modify future plans.
5. Budgetary control works best when a company has an
informal reporting system.
6. The primary recipients of the sales report are the sales
manager and the vice president of production.
7. The primary recipient of the scrap report is the production
manager.
8. A static budget is a projection of budget data at one level of
activity.
9. Top management’s reaction to unfavorable differences is not
influenced by the materiality of the difference.

10. A static budget is not appropriate in evaluating a manager’s
effectiveness in controlling costs unless the actual activity level
approximates the static budget activity level or the behavior of
the costs is fixed.
Instructions:
Identify each statement as true or false. If false, indicate how to
correct the statement.
E22-2
Crede Company budgeted selling expenses of $30,000 in
January, $35,000 in February, and $40,000 in March. Actual
selling expenses were $31,200 in January, $34,525 in February,
and $46,000 in March.
Instructions:
(a) Prepare a selling expense report that compares budgeted and
actual amounts by month and for the year to date.
(b) What is the purpose of the report prepared in “a”, and who
would be the primary recipient?
(c) What would be the likely result of management’s analysis of
the report?
E22-14
The Mixing Department manager of Malone Company is able to
control all overhead costs except rent, property taxes, and
salaries. Budgeted monthly overhead costs for the Mixing
Department, in alphabetical order, are:
Indirect labor
$12,000
Property taxes

$1,000
Indirect materials
7,700
Rent
1,800
Lubricants
1,675
Salaries
10,000
Maintenance
3,500
Utilities
5,000
Actual costs incurred for January 2014 are indirect labor
$12,250; indirect materials $10,200; lubricants $1,650;
maintenance $3,500; property taxes $1,100; rent $1,800;
salaries $10,000; and utilities $6,400.
Instructions:
(a) Prepare a responsibility report for January 2014.
(b) What would be the likely result of management’s analysis of
the report?
E22-17
The West Division of Nieto Company reported the following
data for the current year.
Sales
$3,000,000
Variable costs
1,980,000
Controllable fixed costs
600,000
Average operating assets
5,000,000

Top management is unhappy with the investment center’s return
on investment (ROI). It asks the manager of the West Division
to submit plans to improve ROI in the next year. The manager
believes it is feasible to consider the following independent
courses of action.
1. Increase sales by $320,000 with no change in the contribution
margin percentage.
2. Reduce variable costs by $150,000.
3. Reduce average operating assets by 4%.
Instructions:
(a) Compute the return on investment (ROI) for the current
year.
(b) Using the ROI formula, compute the ROI under each of the
proposed courses of action. (Round to one decimal.)
ACC 556 Chapter 22 Homework 1152 (1148 11-11-2014)
Page 1 of 2

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