Assignment 3 Ratio AnalysisBy the due date assigned solve the p.docx
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Assignment 3: Ratio Analysis By the due date assigned solve the problem below, calculate the ratios, interpret the results against the industry average, and fill in the table on the worksheet. Then, provide an analysis of how those results can be used by the business to improve its performance. Turn in your completed work to the Submissions Area through the end of the day. Balance Sheet as of December 31, 2010 Gary and Company Cash $45 Accounts payables $45 Receivables 66 Notes payables 45 Inventory 159 Other current liabilities 21 Marketable securities 33 Total current liabilities $111 Total current assets $303 Net fixed assets 147 Long Term Liabilities Total Assets $450 Long-term debt 24 Total Liabilities $135 Owners Equity Common stock $114 Retained earnings 201 Total stockholders’ equity 315 Total liabilities and equity $450 Income Statement Year 2010 Net sales $795 Cost of goods sold 660 Gross profit 135 Selling expenses 73.5 Depreciation 12 EBIT 49.5 Interest expense 4.5 EBT 45 Taxes (40%) 18 Net income 27 1. Calculate the following ratios AND interpret the result against the industry average: Ratio Your Answer Industry Average Your Interpretation (Good-Fair-Low-Poor) Profit margin on sales 3% Return on assets 9% Receivable turnover 16X Inventory turnover 10X Fixed asset turnover 2X Total asset turnover 3X Current ratio 2X Quick ratio 1.5X Times interest earned 7X 2. Analysis: Give your interpretation of what the ratios calculations show and how the business can use this information to improve its performance. Justify all answers. Assignment 4 Grading Criteria Maximum Points Has correctly calculated the ratios. 40 Has correctly analyzed and interpreted the significance of the resulting ratios and suggested actions for improvement. 40 Wrote in a clear, concise, and organized manner; demonstrated ethical scholarship in accurate representation and attribution of sources; displayed accurate spelling, grammar, and punctuation 20 Total: 100 ...
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Please see two part Financial Management assignment attached. Each a.docx
Please see two part Financial Management assignment attached. Each assignment must be on two separate word documents. This assignment is due tomorrow, 1/9/18 at 1pm EST.
Part 1
Discuss the importance of quality in a firm’s financial statements and how you would go about evaluating the quality of a firm’s financial statement. What do you consider to be the four main pro forma financial statements to financial forecasting, and why? List All references.
Part 2
Solve the problem below, calculate the ratios, interpret the results against the industry average, and fill in the table on the worksheet. Then,
provide an analysis
of how those results can be used by the business to improve its performance.
Balance Sheet as of December 31, 2010
Gary and Company
Cash
$45
Accounts payables
$45
Receivables
66
Notes payables
45
Inventory
159
Other current liabilities
21
Marketable securities
33
Total current liabilities
$111
Total current assets
$303
Net fixed assets
147
Long Term Liabilities
Total Assets
$450
Long-term debt
24
Total Liabilities
$135
Owners Equity
Common stock
$114
Retained earnings
201
Total stockholders’ equity
315
Total liabilities and equity
$450
Income Statement Year 2010
Net sales
$795
Cost of goods sold
660
Gross profit
135
Selling expenses
73.5
Depreciation
12
EBIT
49.5
Interest expense
4.5
EBT
45
Taxes (40%)
18
Net income
27
1. Calculate the following ratios AND interpret the result against the industry average
:
Ratio
Your Answer
Industry Average
Your Interpretation
(Good-Fair-Low-Poor)
Profit margin on sales
3%
Return on assets
9%
Receivable turnover
16X
Inventory turnover
10X
Fixed asset turnover
2X
Total asset turnover
3X
Current ratio
2X
Quick ratio
1.5X
Times interest earned
7X
2. Analysis:
Give your interpretation of what the ratios calculations show and how the business can use this information to improve its performance. Justify all answers. List all references.
...
Take Assessment Exam 3Top of FormNameExam 3 Ins.docx
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Question 1
1 points
Save
The tendency of the rate earned on stockholders' equity to vary disproportionately from the rate earned on total assets is sometimes referred to as
leverage.
solvency.
yield.
quick assets.
Question 2
1 points
Save
The independent auditor's report does which of the following?
Describes which financial statements are covered by the audit
Gives the auditor's opinion regarding the fairness of the financial statements
Summarizes what the auditor did
States that the financial statements are truthful
Question 3
1 points
Save
The relationship of 120 to 100 can be expressed as 1.2, 1.2:1, or 120%.
True
False
Question 4
1 points
Save
The terms acid-test ratio and quick ratio refer to the same ratio--the instant debt-paying ability of a company.
True
False
Question 5
1 points
Save
The percentage analysis of increases and decreases in corresponding items in comparative financial statements is referred to as vertical analysis.
True
False
Question 6
1 points
Save
The relationship of each asset item as a percent of total assets is an example of horizontal analysis.
True
False
Question 7
1 points
Save
A balance sheet shows cash, $75,000; marketable securities, $110,000; receivables, $90,000; and $225,000 of inventories. Current liabilities are $200,000. The current ratio is 1.375 to 1.
True
False
Question 8
1 points
Save
What type of analysis is indicated by the following?
Increase (Decrease*)
2011
2010
Amount
Percent
Current assets
$ 380,000
$ 500,000
$(120,000*)
(24%)*
Fixed assets
1,680,000
1,500,000
180,000
12%
Vertical analysis
Horizontal analysis
Liquidity analysis
Common-size analysis
Question 9
1 points
Save
Current position analysis indicates a company's ability to liquidate current liabilities.
True
False
Question 10
1 points
Save
Which of the following is NOT included in the computation of the quick ratio?
Inventory
Marketable securities
Accounts receivable
Cash
Question 11
1 points
Save
Based on the following data for the current year, what is the number of days' sales in inventory (rounded to the nearest whole day)?
Net sales on account during year
$1,204,000
Cost of merchandise sold during year
630,000
Accounts receivable, beginning of ...
BBA 3301 Unit V AssignmentInstructions Enter all answers dire.docx
BBA 3301 Unit V Assignment
Instructions: Enter all answers directly in this worksheet. When you are finished, select Save As, and save this document using your last name and student ID as the file name. Upload the data sheet to Blackboard as a .doc, .docx or .rtf file when you are finished.
Question 1. (30 points total) Use this balance sheet and income statement from Carver Enterprises to complete parts a and b:
a. (15 points) Prepare a common size balance sheet for Carver Enterprises. Complete the common-size balance sheet: (Round to one decimal place.)
Common−Size Balance Sheet
2013
Cash and marketable securities
$
490
%
Accounts receivable
5,990
Inventories
9,550
Current assets
$
16,030
%
Net property plant and equipment
17,030
Total assets
$
33,060
%
Accounts payable
$
7,220
%
Short−term debt
6,800
Current liabilities
$
14,020
%
Long−term liabilities
7,010
Total liabilities
$
21,030
%
Total owners’ equity
12,030
Total liabilities and owners’ equity
$
33,060
%
b. (15 points) Prepare a common-size income statement for Carver Enterprises. Complete the common-size income statement: (Round to one decimal place.)
Common−Size Income Statement
2013
Revenues
$
30,020
%
Cost of goods sold
(19,950)
Gross profit
$
10,070
%
Operating expenses
(7,960)
Net operating income
$
2,110
%
Interest expense
(940)
Earnings before taxes
$
1,170
%
Taxes
(425)
Net income
$
745
%
Question 2. (10 points total) Use this data table of Campbell Industries liabilities and owners' equity to complete parts a and b.
a. (5 points) What percentage of the firm's assets does the firm finance using debt (liabilities)? (Round to one decimal place.)
b. (5 points) If Campbell were to purchase a new warehouse for $1.3 million and finance it entirely with long-term debt, what would be the firm's new debt ratio? (Round to one decimal place.)
Question 3. (10 points total) (Liquidity analysis)Airspot Motors, Inc. has $2,433,200 in current assets and $869,000 in current liabilities. The company's managers want to increase the firm's inventory, which will be financed using short-term debt. How much can the firm increase its inventory without its current ratio falling below 2.1 (assuming all other assets and current liabilities remain constant)? (Round to one decimal place.)
Question 4. (10 points total) (Efficiency analysis)Baryla Inc. manufactures high quality decorator lamps in a plant located in eastern Tennessee. Last year the firm had sales of $93 million and a gross profit margin of 45 percent.
a. (5 points) How much inventory can Baryla hold and still maintain an inventory turnover ratio of at least 6.3 times? (Round to one decimal place.)
b. (5 points) Currently, some of Baryla's inventory includes $2.3 million of outdated and damaged goods that simply remain in inventory and are not salable. What inventory ratio must the good inventory maintain in order to achieve an overall turnover ratio of at least 6.3 (including the ...
BBA 3301 Unit V AssignmentInstructions Enter all answers direct.docx
BBA 3301 Unit V Assignment
Instructions: Enter all answers directly in this worksheet. When you are finished, select Save As, and save this document using your last name and student ID as the file name. Upload the data sheet to Blackboard as a .doc, .docx or .rtf file when you are finished.
Question 1. (30 points total) Use this balance sheet and income statement from Carver Enterprises to complete parts a and b:
a. (15 points) Prepare a common size balance sheet for Carver Enterprises. Complete the common-size balance sheet: (Round to one decimal place.)
Common−Size Balance Sheet
2013
Cash and marketable securities
$
490
%
Accounts receivable
5,990
Inventories
9,550
Current assets
$
16,030
%
Net property plant and equipment
17,030
Total assets
$
33,060
%
Accounts payable
$
7,220
%
Short−term debt
6,800
Current liabilities
$
14,020
%
Long−term liabilities
7,010
Total liabilities
$
21,030
%
Total owners’ equity
12,030
Total liabilities and owners’ equity
$
33,060
%
b. (15 points) Prepare a common-size income statement for Carver Enterprises. Complete the common-size income statement: (Round to one decimal place.)
Common−Size Income Statement
2013
Revenues
$
30,020
%
Cost of goods sold
(19,950)
Gross profit
$
10,070
%
Operating expenses
(7,960)
Net operating income
$
2,110
%
Interest expense
(940)
Earnings before taxes
$
1,170
%
Taxes
(425)
Net income
$
745
%
Question 2. (10 points total) Use this data table of Campbell Industries liabilities and owners' equity to complete parts a and b.
a. (5 points) What percentage of the firm's assets does the firm finance using debt (liabilities)? (Round to one decimal place.)
b. (5 points) If Campbell were to purchase a new warehouse for $1.3 million and finance it entirely with long-term debt, what would be the firm's new debt ratio? (Round to one decimal place.)
Question 3. (10 points total) (Liquidity analysis)Airspot Motors, Inc. has $2,433,200 in current assets and $869,000 in current liabilities. The company's managers want to increase the firm's inventory, which will be financed using short-term debt. How much can the firm increase its inventory without its current ratio falling below 2.1 (assuming all other assets and current liabilities remain constant)? (Round to one decimal place.)
Question 4. (10 points total) (Efficiency analysis)Baryla Inc. manufactures high quality decorator lamps in a plant located in eastern Tennessee. Last year the firm had sales of $93 million and a gross profit margin of 45 percent.
a. (5 points) How much inventory can Baryla hold and still maintain an inventory turnover ratio of at least 6.3 times? (Round to one decimal place.)
b. (5 points) Currently, some of Baryla's inventory includes $2.3 million of outdated and damaged goods that simply remain in inventory and are not salable. What inventory ratio must the good inventory maintain in order to achieve an overall turnover ratio of at least ...
BBA 3301 Unit V AssignmentInstructions Enter all answers direct.docx
BBA 3301 Unit V Assignment
Instructions: Enter all answers directly in this worksheet. When you are finished, select Save As, and save this document using your last name and student ID as the file name. Upload the data sheet to Blackboard as a .doc, .docx or .rtf file when you are finished.
Question 1. (30 points total) Use this balance sheet and income statement from Carver Enterprises to complete parts a and b:
a. (15 points) Prepare a common size balance sheet for Carver Enterprises. Complete the common-size balance sheet: (Round to one decimal place.)
Common−Size Balance Sheet
2013
Cash and marketable securities
$
490
%
Accounts receivable
5,990
Inventories
9,550
Current assets
$
16,030
%
Net property plant and equipment
17,030
Total assets
$
33,060
%
Accounts payable
$
7,220
%
Short−term debt
6,800
Current liabilities
$
14,020
%
Long−term liabilities
7,010
Total liabilities
$
21,030
%
Total owners’ equity
12,030
Total liabilities and owners’ equity
$
33,060
%
b. (15 points) Prepare a common-size income statement for Carver Enterprises. Complete the common-size income statement: (Round to one decimal place.)
Common−Size Income Statement
2013
Revenues
$
30,020
%
Cost of goods sold
(19,950)
Gross profit
$
10,070
%
Operating expenses
(7,960)
Net operating income
$
2,110
%
Interest expense
(940)
Earnings before taxes
$
1,170
%
Taxes
(425)
Net income
$
745
%
Question 2. (10 points total) Use this data table of Campbell Industries liabilities and owners' equity to complete parts a and b.
a. (5 points) What percentage of the firm's assets does the firm finance using debt (liabilities)? (Round to one decimal place.)
b. (5 points) If Campbell were to purchase a new warehouse for $1.3 million and finance it entirely with long-term debt, what would be the firm's new debt ratio? (Round to one decimal place.)
Question 3. (10 points total) (Liquidity analysis)Airspot Motors, Inc. has $2,433,200 in current assets and $869,000 in current liabilities. The company's managers want to increase the firm's inventory, which will be financed using short-term debt. How much can the firm increase its inventory without its current ratio falling below 2.1 (assuming all other assets and current liabilities remain constant)? (Round to one decimal place.)
Question 4. (10 points total) (Efficiency analysis)Baryla Inc. manufactures high quality decorator lamps in a plant located in eastern Tennessee. Last year the firm had sales of $93 million and a gross profit margin of 45 percent.
a. (5 points) How much inventory can Baryla hold and still maintain an inventory turnover ratio of at least 6.3 times? (Round to one decimal place.)
b. (5 points) Currently, some of Baryla's inventory includes $2.3 million of outdated and damaged goods that simply remain in inventory and are not salable. What inventory ratio must the good inventory maintain in order to achieve an overall turnover ratio of at least.
A GUI design elements is a combination of technology and equipment.docx
A GUI design elements is a combination of technology and equipment to provide users with a platform that allows users to interact with it. A series of GUI components follow a visual language to represent the information stored in the computer. The most common elements include a combination of components such as model WIMP (window, icon, menu, pointing device) in the personal computer.
1. (TCO A) An advantage of the corporate form of business is that _____. (Points : 5)
it has limited life
its owner's personal resources are at stake
its ownership is easily transferable via the sale of shares of stock it is simple to establish
2. (TCO A) When a corporation distributes a dividend, _____. (Points : 5)
the most common form of distribution is a cash dividend the Dividends account will be increased with a credit
the Retained Earnings account will be directly increased with a debit the Dividends account will be decreased with a debit
3. (TCOs A, B) Below is a partial list of account balances for Denton Company:
Cash $7,000
Prepaid insurance 700
Accounts receivable 3,500
Accounts payable 2,800
Notes payable 4,200
Common stock 1,400
Dividends 700
Revenues 21,000
Expenses 17,500
What did Denton Company show as total credits? (Points : 5)
$30,100 $29,400 $28,700 $30,800
4. (TCOs B, E) A small and private company may be able to justify using a cash basis of accounting if it has _____. (Points : 5)
sales under $1,000,000 no accountants on staf
insignificant receivables and payables all sales and purchases on account
5. (TCO D) In a period of increasing prices, which inventory cost flow assumption will result in the lowest amount of income tax expense? (Points : 5)
FIFO
LIFO
The average cost method
Income tax expense for the period will be the same under all assumptions.
6. (TCOs A, E) Equipment was purchased for $60,000. Freight charges amounted to $2,800 and there was a cost of $8,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $12,000 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be _____. (Points : 5)
$14,160 $11,760 $9,840 $9,600
7. (TCOs D, G) Lopez Corporation issues 500 ten-year, 8%, $1,000 bonds dated January 1, 2007, at 96. The journal entry to record the issuance will show a _____. (Points : 5)
debit to Cash of $500,000
credit to Discount on Bonds Payable for $20,000 credit to Bonds Payable for $480,000
debit to Cash for $480,000
8. (TCO C) Accounts receivable arising from sales to customers amounted to $35,000 and $40,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was
$120,000. Exclusive of the efect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is _____. (Points : 5)
$120,000 $125,000 $155,000 $115,000
9. (TCO F) Which one of the following is not a tool in fin.
RATIO ANALYSIS Data for Barry Computer Co. and its industry averag.docx
RATIO ANALYSIS Data for Barry Computer Co. and its industry averages follow. The firm’s debt is priced at par, so the market value of its debt equals its book value. Since dollars are in thousands, number of shares are shown in thousands too.
a. Calculate the indicated ratios for Barry.
b. Construct the DuPont equation for both Barry and the industry.
c. Outline Barry’s strengths and weaknesses as revealed by your analysis.
d. Suppose Barry had doubled its sales as well as its inventories, accounts receivable, and common equity during 2018. How would that information affect the validity of your ratio analysis? (Hint: Think about averages and the effects of rapid growth on ratios if averages are not used. No calculations are needed.)
Barry Computer Company: Balance Sheet as of December 31, 2018 (in Thousands)
Cash
$ 77,500
Accounts payable
$129,000
Receivables
336,000
Other current liabilities
117,000
Inventories
241,500
Notes payable to bank
84,000
Total current assets
$ 655,000
Total current liabilities
$330,000
Long-term debt
256,500
Net fixed assets
292,500
Common equity (36,100 shares)
361,000
Total assets
$ 947,500
Total liabilities and equity
$947,500
Barry Computer Company: Income Statement for Year Ended December 31, 2018 (in Thousands)
Sales
$1,607,500
Cost of goods sold
Materials
$717,000
Labor
453,000
Heat, light, and power
68,000
Indirect labor
113,000
Depreciation
41,500
1,392,500
Gross profit
$ 215,000
Selling expenses
115,000
General and administrative expenses
30,000
Earnings before interest and taxes (EBIT)
$ 70,000
Interest expense
24,500
Earnings before taxes (EBT)
$ 45,500
Federal and state income taxes (40%)
18,200
Net income
$ 27,300
Earnings per share
$ 0.75623
Price per share on December 31, 2018
$ 12.00
Ratio
Barry
Industry Average
Current
___
2.0×
Quick
___
1.3×
Days sales outstandinga
___
35 days
Inventory turnover
___
6.7×
Total assets turnover
___
3.0×
Profit margin
___
1.2%
ROA
___
3.6%
ROE
___
9.0%
ROIC
___
7.5%
TIE
___
3.0×
Debt/Total capital
___
47.0%
M/B
___
4.22
P/E
___
17.86
EV/EBITDA
___
9.14
aCalculation is based on a 365-day year.
4-24DuPONT ANALYSIS A firm has been experiencing low profitability in recent years. Perform an analysis of the firm’s financial position using the DuPont equation. The firm has no lease payments but has a $2 million sinking fund payment on its debt. The most recent industry average ratios and the firm’s financial statements are as follows:
Industry Average Ratios
Current ratio
3×
Fixed assets turnover
6×
Debt-to-capital ratio
20%
Total assets turnover
3×
Times interest earned
7×
Profit margin
3%
EBITDA coverage
9×
Return on total assets
9%
Inventory turnover
10×
Return on common equity
12.86%
Days sales outstandinga
24 days
Return on invested capital
11.50%
aCalculation is based on a 365-day year.
Balance Sheet as of December 31, 2018 (Millions of Dollars)
Cash and equivalents
$ 78
Accounts payable
$ 45
Accou ...
Student ID 21458913 Exam 061684RR - The Impact of Manage.docx
Student ID: 21458913
Exam: 061684RR - The Impact of Management Decisions and Other Topics
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hit Submit Exam. If you need to exit before completing the exam, click Cancel Exam.
Questions 1 to 20: Select the best answer to each question. Note that a question and its answers may be split across a page
break, so be sure that you have seen the entire question and all the answers before choosing an answer.
1. (Ignore income taxes in this problem.) The Keego Company is planning a $200,000 equipment
investment that has an estimated five-year life with no estimated salvage value. The company has projected
the following annual cash flows for the investment:
Assuming that the cash inflows occur evenly over the year, the payback period for the investment is
_______ years.
Year Cash Inflows
1 $120,000
2 60,000
3 40,000
4 40,000
5 40,000
Total $300,000
A. 0.75
B. 2.50
C. 4.91
D. 1.67
2. The Clemson Company reported the following results last year for the manufacture and sale of one of its
products known as a Tam.
Clemson Company is trying to determine whether to discontinue the manufacture and sale of Tams. The
operating results reported above for last year are expected to continue in the foreseeable future if the
product isn't dropped. The fixed manufacturing overhead represents the costs of production facilities and
equipment that the Tam product shares with other products produced by Clemson. If the Tam product
were dropped, there would be no change in the fixed manufacturing costs of the company.
Sales (6,500 Tams at $130 each) $845,000
Variable cost of sales 390,000
Variable distribution costs 65,000
Fixed advertising expense 275,000
Salary of product line manager 25,000
Fixed manufacturing overhead 145,000
Net operating loss $(55,000)
Assume that discontinuing the manufacture and sale of Tams will have no effect on the sale of other
product lines. If the company discontinues the Tam product line, the change in annual operating income (or
loss) should be a
A. $90,000 decrease.
B. $65,000 decrease.
C. $55,000 decrease.
D. $70,000 increase.
3. Part N19 is used by Malouf Corporation to make one of its products. A total of 7,000 units of this part
are produced and used every year. The company's Accounting Department reports the following costs of
producing the part at this level of activity:
An outside supplier has offered to make the part and sell it to the company for $24.50 each. If this offer is
accepted, the supervisor's salary and all of the variable costs, including the direct labor, can be avoided.
The special equipment used to make the part was purchased many years ago and has no salvage value or
other use. The allocated general overhead represents fixed costs of the entire company, none of which
would be avoided if the part were purchased instea.
Recommended
Please see two part Financial Management assignment attached. Each a.docx
Please see two part Financial Management assignment attached. Each assignment must be on two separate word documents. This assignment is due tomorrow, 1/9/18 at 1pm EST.
Part 1
Discuss the importance of quality in a firm’s financial statements and how you would go about evaluating the quality of a firm’s financial statement. What do you consider to be the four main pro forma financial statements to financial forecasting, and why? List All references.
Part 2
Solve the problem below, calculate the ratios, interpret the results against the industry average, and fill in the table on the worksheet. Then,
provide an analysis
of how those results can be used by the business to improve its performance.
Balance Sheet as of December 31, 2010
Gary and Company
Cash
$45
Accounts payables
$45
Receivables
66
Notes payables
45
Inventory
159
Other current liabilities
21
Marketable securities
33
Total current liabilities
$111
Total current assets
$303
Net fixed assets
147
Long Term Liabilities
Total Assets
$450
Long-term debt
24
Total Liabilities
$135
Owners Equity
Common stock
$114
Retained earnings
201
Total stockholders’ equity
315
Total liabilities and equity
$450
Income Statement Year 2010
Net sales
$795
Cost of goods sold
660
Gross profit
135
Selling expenses
73.5
Depreciation
12
EBIT
49.5
Interest expense
4.5
EBT
45
Taxes (40%)
18
Net income
27
1. Calculate the following ratios AND interpret the result against the industry average
:
Ratio
Your Answer
Industry Average
Your Interpretation
(Good-Fair-Low-Poor)
Profit margin on sales
3%
Return on assets
9%
Receivable turnover
16X
Inventory turnover
10X
Fixed asset turnover
2X
Total asset turnover
3X
Current ratio
2X
Quick ratio
1.5X
Times interest earned
7X
2. Analysis:
Give your interpretation of what the ratios calculations show and how the business can use this information to improve its performance. Justify all answers. List all references.
...
Take Assessment Exam 3Top of FormNameExam 3 Ins.docx
Take Assessment: Exam 3
Top of Form
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Exam 3
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Question 1
1 points
Save
The tendency of the rate earned on stockholders' equity to vary disproportionately from the rate earned on total assets is sometimes referred to as
leverage.
solvency.
yield.
quick assets.
Question 2
1 points
Save
The independent auditor's report does which of the following?
Describes which financial statements are covered by the audit
Gives the auditor's opinion regarding the fairness of the financial statements
Summarizes what the auditor did
States that the financial statements are truthful
Question 3
1 points
Save
The relationship of 120 to 100 can be expressed as 1.2, 1.2:1, or 120%.
True
False
Question 4
1 points
Save
The terms acid-test ratio and quick ratio refer to the same ratio--the instant debt-paying ability of a company.
True
False
Question 5
1 points
Save
The percentage analysis of increases and decreases in corresponding items in comparative financial statements is referred to as vertical analysis.
True
False
Question 6
1 points
Save
The relationship of each asset item as a percent of total assets is an example of horizontal analysis.
True
False
Question 7
1 points
Save
A balance sheet shows cash, $75,000; marketable securities, $110,000; receivables, $90,000; and $225,000 of inventories. Current liabilities are $200,000. The current ratio is 1.375 to 1.
True
False
Question 8
1 points
Save
What type of analysis is indicated by the following?
Increase (Decrease*)
2011
2010
Amount
Percent
Current assets
$ 380,000
$ 500,000
$(120,000*)
(24%)*
Fixed assets
1,680,000
1,500,000
180,000
12%
Vertical analysis
Horizontal analysis
Liquidity analysis
Common-size analysis
Question 9
1 points
Save
Current position analysis indicates a company's ability to liquidate current liabilities.
True
False
Question 10
1 points
Save
Which of the following is NOT included in the computation of the quick ratio?
Inventory
Marketable securities
Accounts receivable
Cash
Question 11
1 points
Save
Based on the following data for the current year, what is the number of days' sales in inventory (rounded to the nearest whole day)?
Net sales on account during year
$1,204,000
Cost of merchandise sold during year
630,000
Accounts receivable, beginning of ...
BBA 3301 Unit V AssignmentInstructions Enter all answers dire.docx
BBA 3301 Unit V Assignment
Instructions: Enter all answers directly in this worksheet. When you are finished, select Save As, and save this document using your last name and student ID as the file name. Upload the data sheet to Blackboard as a .doc, .docx or .rtf file when you are finished.
Question 1. (30 points total) Use this balance sheet and income statement from Carver Enterprises to complete parts a and b:
a. (15 points) Prepare a common size balance sheet for Carver Enterprises. Complete the common-size balance sheet: (Round to one decimal place.)
Common−Size Balance Sheet
2013
Cash and marketable securities
$
490
%
Accounts receivable
5,990
Inventories
9,550
Current assets
$
16,030
%
Net property plant and equipment
17,030
Total assets
$
33,060
%
Accounts payable
$
7,220
%
Short−term debt
6,800
Current liabilities
$
14,020
%
Long−term liabilities
7,010
Total liabilities
$
21,030
%
Total owners’ equity
12,030
Total liabilities and owners’ equity
$
33,060
%
b. (15 points) Prepare a common-size income statement for Carver Enterprises. Complete the common-size income statement: (Round to one decimal place.)
Common−Size Income Statement
2013
Revenues
$
30,020
%
Cost of goods sold
(19,950)
Gross profit
$
10,070
%
Operating expenses
(7,960)
Net operating income
$
2,110
%
Interest expense
(940)
Earnings before taxes
$
1,170
%
Taxes
(425)
Net income
$
745
%
Question 2. (10 points total) Use this data table of Campbell Industries liabilities and owners' equity to complete parts a and b.
a. (5 points) What percentage of the firm's assets does the firm finance using debt (liabilities)? (Round to one decimal place.)
b. (5 points) If Campbell were to purchase a new warehouse for $1.3 million and finance it entirely with long-term debt, what would be the firm's new debt ratio? (Round to one decimal place.)
Question 3. (10 points total) (Liquidity analysis)Airspot Motors, Inc. has $2,433,200 in current assets and $869,000 in current liabilities. The company's managers want to increase the firm's inventory, which will be financed using short-term debt. How much can the firm increase its inventory without its current ratio falling below 2.1 (assuming all other assets and current liabilities remain constant)? (Round to one decimal place.)
Question 4. (10 points total) (Efficiency analysis)Baryla Inc. manufactures high quality decorator lamps in a plant located in eastern Tennessee. Last year the firm had sales of $93 million and a gross profit margin of 45 percent.
a. (5 points) How much inventory can Baryla hold and still maintain an inventory turnover ratio of at least 6.3 times? (Round to one decimal place.)
b. (5 points) Currently, some of Baryla's inventory includes $2.3 million of outdated and damaged goods that simply remain in inventory and are not salable. What inventory ratio must the good inventory maintain in order to achieve an overall turnover ratio of at least 6.3 (including the ...
BBA 3301 Unit V AssignmentInstructions Enter all answers direct.docx
BBA 3301 Unit V Assignment
Instructions: Enter all answers directly in this worksheet. When you are finished, select Save As, and save this document using your last name and student ID as the file name. Upload the data sheet to Blackboard as a .doc, .docx or .rtf file when you are finished.
Question 1. (30 points total) Use this balance sheet and income statement from Carver Enterprises to complete parts a and b:
a. (15 points) Prepare a common size balance sheet for Carver Enterprises. Complete the common-size balance sheet: (Round to one decimal place.)
Common−Size Balance Sheet
2013
Cash and marketable securities
$
490
%
Accounts receivable
5,990
Inventories
9,550
Current assets
$
16,030
%
Net property plant and equipment
17,030
Total assets
$
33,060
%
Accounts payable
$
7,220
%
Short−term debt
6,800
Current liabilities
$
14,020
%
Long−term liabilities
7,010
Total liabilities
$
21,030
%
Total owners’ equity
12,030
Total liabilities and owners’ equity
$
33,060
%
b. (15 points) Prepare a common-size income statement for Carver Enterprises. Complete the common-size income statement: (Round to one decimal place.)
Common−Size Income Statement
2013
Revenues
$
30,020
%
Cost of goods sold
(19,950)
Gross profit
$
10,070
%
Operating expenses
(7,960)
Net operating income
$
2,110
%
Interest expense
(940)
Earnings before taxes
$
1,170
%
Taxes
(425)
Net income
$
745
%
Question 2. (10 points total) Use this data table of Campbell Industries liabilities and owners' equity to complete parts a and b.
a. (5 points) What percentage of the firm's assets does the firm finance using debt (liabilities)? (Round to one decimal place.)
b. (5 points) If Campbell were to purchase a new warehouse for $1.3 million and finance it entirely with long-term debt, what would be the firm's new debt ratio? (Round to one decimal place.)
Question 3. (10 points total) (Liquidity analysis)Airspot Motors, Inc. has $2,433,200 in current assets and $869,000 in current liabilities. The company's managers want to increase the firm's inventory, which will be financed using short-term debt. How much can the firm increase its inventory without its current ratio falling below 2.1 (assuming all other assets and current liabilities remain constant)? (Round to one decimal place.)
Question 4. (10 points total) (Efficiency analysis)Baryla Inc. manufactures high quality decorator lamps in a plant located in eastern Tennessee. Last year the firm had sales of $93 million and a gross profit margin of 45 percent.
a. (5 points) How much inventory can Baryla hold and still maintain an inventory turnover ratio of at least 6.3 times? (Round to one decimal place.)
b. (5 points) Currently, some of Baryla's inventory includes $2.3 million of outdated and damaged goods that simply remain in inventory and are not salable. What inventory ratio must the good inventory maintain in order to achieve an overall turnover ratio of at least ...
BBA 3301 Unit V AssignmentInstructions Enter all answers direct.docx
BBA 3301 Unit V Assignment
Instructions: Enter all answers directly in this worksheet. When you are finished, select Save As, and save this document using your last name and student ID as the file name. Upload the data sheet to Blackboard as a .doc, .docx or .rtf file when you are finished.
Question 1. (30 points total) Use this balance sheet and income statement from Carver Enterprises to complete parts a and b:
a. (15 points) Prepare a common size balance sheet for Carver Enterprises. Complete the common-size balance sheet: (Round to one decimal place.)
Common−Size Balance Sheet
2013
Cash and marketable securities
$
490
%
Accounts receivable
5,990
Inventories
9,550
Current assets
$
16,030
%
Net property plant and equipment
17,030
Total assets
$
33,060
%
Accounts payable
$
7,220
%
Short−term debt
6,800
Current liabilities
$
14,020
%
Long−term liabilities
7,010
Total liabilities
$
21,030
%
Total owners’ equity
12,030
Total liabilities and owners’ equity
$
33,060
%
b. (15 points) Prepare a common-size income statement for Carver Enterprises. Complete the common-size income statement: (Round to one decimal place.)
Common−Size Income Statement
2013
Revenues
$
30,020
%
Cost of goods sold
(19,950)
Gross profit
$
10,070
%
Operating expenses
(7,960)
Net operating income
$
2,110
%
Interest expense
(940)
Earnings before taxes
$
1,170
%
Taxes
(425)
Net income
$
745
%
Question 2. (10 points total) Use this data table of Campbell Industries liabilities and owners' equity to complete parts a and b.
a. (5 points) What percentage of the firm's assets does the firm finance using debt (liabilities)? (Round to one decimal place.)
b. (5 points) If Campbell were to purchase a new warehouse for $1.3 million and finance it entirely with long-term debt, what would be the firm's new debt ratio? (Round to one decimal place.)
Question 3. (10 points total) (Liquidity analysis)Airspot Motors, Inc. has $2,433,200 in current assets and $869,000 in current liabilities. The company's managers want to increase the firm's inventory, which will be financed using short-term debt. How much can the firm increase its inventory without its current ratio falling below 2.1 (assuming all other assets and current liabilities remain constant)? (Round to one decimal place.)
Question 4. (10 points total) (Efficiency analysis)Baryla Inc. manufactures high quality decorator lamps in a plant located in eastern Tennessee. Last year the firm had sales of $93 million and a gross profit margin of 45 percent.
a. (5 points) How much inventory can Baryla hold and still maintain an inventory turnover ratio of at least 6.3 times? (Round to one decimal place.)
b. (5 points) Currently, some of Baryla's inventory includes $2.3 million of outdated and damaged goods that simply remain in inventory and are not salable. What inventory ratio must the good inventory maintain in order to achieve an overall turnover ratio of at least.
A GUI design elements is a combination of technology and equipment.docx
A GUI design elements is a combination of technology and equipment to provide users with a platform that allows users to interact with it. A series of GUI components follow a visual language to represent the information stored in the computer. The most common elements include a combination of components such as model WIMP (window, icon, menu, pointing device) in the personal computer.
1. (TCO A) An advantage of the corporate form of business is that _____. (Points : 5)
it has limited life
its owner's personal resources are at stake
its ownership is easily transferable via the sale of shares of stock it is simple to establish
2. (TCO A) When a corporation distributes a dividend, _____. (Points : 5)
the most common form of distribution is a cash dividend the Dividends account will be increased with a credit
the Retained Earnings account will be directly increased with a debit the Dividends account will be decreased with a debit
3. (TCOs A, B) Below is a partial list of account balances for Denton Company:
Cash $7,000
Prepaid insurance 700
Accounts receivable 3,500
Accounts payable 2,800
Notes payable 4,200
Common stock 1,400
Dividends 700
Revenues 21,000
Expenses 17,500
What did Denton Company show as total credits? (Points : 5)
$30,100 $29,400 $28,700 $30,800
4. (TCOs B, E) A small and private company may be able to justify using a cash basis of accounting if it has _____. (Points : 5)
sales under $1,000,000 no accountants on staf
insignificant receivables and payables all sales and purchases on account
5. (TCO D) In a period of increasing prices, which inventory cost flow assumption will result in the lowest amount of income tax expense? (Points : 5)
FIFO
LIFO
The average cost method
Income tax expense for the period will be the same under all assumptions.
6. (TCOs A, E) Equipment was purchased for $60,000. Freight charges amounted to $2,800 and there was a cost of $8,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $12,000 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be _____. (Points : 5)
$14,160 $11,760 $9,840 $9,600
7. (TCOs D, G) Lopez Corporation issues 500 ten-year, 8%, $1,000 bonds dated January 1, 2007, at 96. The journal entry to record the issuance will show a _____. (Points : 5)
debit to Cash of $500,000
credit to Discount on Bonds Payable for $20,000 credit to Bonds Payable for $480,000
debit to Cash for $480,000
8. (TCO C) Accounts receivable arising from sales to customers amounted to $35,000 and $40,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was
$120,000. Exclusive of the efect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is _____. (Points : 5)
$120,000 $125,000 $155,000 $115,000
9. (TCO F) Which one of the following is not a tool in fin.
RATIO ANALYSIS Data for Barry Computer Co. and its industry averag.docx
RATIO ANALYSIS Data for Barry Computer Co. and its industry averages follow. The firm’s debt is priced at par, so the market value of its debt equals its book value. Since dollars are in thousands, number of shares are shown in thousands too.
a. Calculate the indicated ratios for Barry.
b. Construct the DuPont equation for both Barry and the industry.
c. Outline Barry’s strengths and weaknesses as revealed by your analysis.
d. Suppose Barry had doubled its sales as well as its inventories, accounts receivable, and common equity during 2018. How would that information affect the validity of your ratio analysis? (Hint: Think about averages and the effects of rapid growth on ratios if averages are not used. No calculations are needed.)
Barry Computer Company: Balance Sheet as of December 31, 2018 (in Thousands)
Cash
$ 77,500
Accounts payable
$129,000
Receivables
336,000
Other current liabilities
117,000
Inventories
241,500
Notes payable to bank
84,000
Total current assets
$ 655,000
Total current liabilities
$330,000
Long-term debt
256,500
Net fixed assets
292,500
Common equity (36,100 shares)
361,000
Total assets
$ 947,500
Total liabilities and equity
$947,500
Barry Computer Company: Income Statement for Year Ended December 31, 2018 (in Thousands)
Sales
$1,607,500
Cost of goods sold
Materials
$717,000
Labor
453,000
Heat, light, and power
68,000
Indirect labor
113,000
Depreciation
41,500
1,392,500
Gross profit
$ 215,000
Selling expenses
115,000
General and administrative expenses
30,000
Earnings before interest and taxes (EBIT)
$ 70,000
Interest expense
24,500
Earnings before taxes (EBT)
$ 45,500
Federal and state income taxes (40%)
18,200
Net income
$ 27,300
Earnings per share
$ 0.75623
Price per share on December 31, 2018
$ 12.00
Ratio
Barry
Industry Average
Current
___
2.0×
Quick
___
1.3×
Days sales outstandinga
___
35 days
Inventory turnover
___
6.7×
Total assets turnover
___
3.0×
Profit margin
___
1.2%
ROA
___
3.6%
ROE
___
9.0%
ROIC
___
7.5%
TIE
___
3.0×
Debt/Total capital
___
47.0%
M/B
___
4.22
P/E
___
17.86
EV/EBITDA
___
9.14
aCalculation is based on a 365-day year.
4-24DuPONT ANALYSIS A firm has been experiencing low profitability in recent years. Perform an analysis of the firm’s financial position using the DuPont equation. The firm has no lease payments but has a $2 million sinking fund payment on its debt. The most recent industry average ratios and the firm’s financial statements are as follows:
Industry Average Ratios
Current ratio
3×
Fixed assets turnover
6×
Debt-to-capital ratio
20%
Total assets turnover
3×
Times interest earned
7×
Profit margin
3%
EBITDA coverage
9×
Return on total assets
9%
Inventory turnover
10×
Return on common equity
12.86%
Days sales outstandinga
24 days
Return on invested capital
11.50%
aCalculation is based on a 365-day year.
Balance Sheet as of December 31, 2018 (Millions of Dollars)
Cash and equivalents
$ 78
Accounts payable
$ 45
Accou ...
Student ID 21458913 Exam 061684RR - The Impact of Manage.docx
Student ID: 21458913
Exam: 061684RR - The Impact of Management Decisions and Other Topics
When you have completed your exam and reviewed your answers, click Submit Exam. Answers will not be recorded until you
hit Submit Exam. If you need to exit before completing the exam, click Cancel Exam.
Questions 1 to 20: Select the best answer to each question. Note that a question and its answers may be split across a page
break, so be sure that you have seen the entire question and all the answers before choosing an answer.
1. (Ignore income taxes in this problem.) The Keego Company is planning a $200,000 equipment
investment that has an estimated five-year life with no estimated salvage value. The company has projected
the following annual cash flows for the investment:
Assuming that the cash inflows occur evenly over the year, the payback period for the investment is
_______ years.
Year Cash Inflows
1 $120,000
2 60,000
3 40,000
4 40,000
5 40,000
Total $300,000
A. 0.75
B. 2.50
C. 4.91
D. 1.67
2. The Clemson Company reported the following results last year for the manufacture and sale of one of its
products known as a Tam.
Clemson Company is trying to determine whether to discontinue the manufacture and sale of Tams. The
operating results reported above for last year are expected to continue in the foreseeable future if the
product isn't dropped. The fixed manufacturing overhead represents the costs of production facilities and
equipment that the Tam product shares with other products produced by Clemson. If the Tam product
were dropped, there would be no change in the fixed manufacturing costs of the company.
Sales (6,500 Tams at $130 each) $845,000
Variable cost of sales 390,000
Variable distribution costs 65,000
Fixed advertising expense 275,000
Salary of product line manager 25,000
Fixed manufacturing overhead 145,000
Net operating loss $(55,000)
Assume that discontinuing the manufacture and sale of Tams will have no effect on the sale of other
product lines. If the company discontinues the Tam product line, the change in annual operating income (or
loss) should be a
A. $90,000 decrease.
B. $65,000 decrease.
C. $55,000 decrease.
D. $70,000 increase.
3. Part N19 is used by Malouf Corporation to make one of its products. A total of 7,000 units of this part
are produced and used every year. The company's Accounting Department reports the following costs of
producing the part at this level of activity:
An outside supplier has offered to make the part and sell it to the company for $24.50 each. If this offer is
accepted, the supervisor's salary and all of the variable costs, including the direct labor, can be avoided.
The special equipment used to make the part was purchased many years ago and has no salvage value or
other use. The allocated general overhead represents fixed costs of the entire company, none of which
would be avoided if the part were purchased instea.
Financial Management1. On December 5, 2007, the common stock.docx
Financial Management
1. On December 5, 2007, the common stock of Google, Inc. (GOOG) was trading at $698.51. One year later, the shares sold for $283.99. Google has never paid a common stock dividend. What rate of return would you have earned on your investment had you purchased the shares on December 5, 2007? The rate of return you would have earned is what percent?
2.
The common stock of Plaxo Enterprises had a market price of $10.44 on the day you purchased it just one year ago. During the past year, the stock paid a dividend of $1.43 and closed at a price of $11.66. What rate of return did you earn on your investment in Plaxo's stock? The rate of return you earned on Plaxo's stock is what percent?
3. Caswell Enterprises had the following end-of-year stock prices over the last five years and paid no dividends.
Time:Caswell:
1 $9
2 14
3 10
4 7
5 9
a. Calculate the average rate of return for each year from the above information.
b. What is the arithmetic average rate of return earned by investing in Caswell's stock over this period?
c. What is the geometric average rate of return earned by investing in Caswell's stock over this period?
d. Considering the beginning and ending stock prices for the five-year period are the same, which type of average rate of return best describes the annual rate of return earned over the period (arithmetic or geometric)?
e. The annual rate of return at the end of year 2 is what percent?
4. Syntex is considering an investment in one of two stocks. Given the information that follows, which investment is better, based on the risk (the standard deviation) and return?
Stock A Stock B
Probability Return Probability Return
0.20 10% 0.10 -7%
0.60 16% 0.40 5%
0.20 21% 0.40 13%
0.10 20%
Given the information in the table, what percent is the rate of return for Stock A?
BBA 3301 Unit V Assignment
Instructions: Enter all answers directly in this worksheet. When you are finished, select Save As, and save this document using your last name and student ID as the file name. Upload the data sheet to Blackboard as a .doc, .docx or .rtf file when you are finished.
Question 1. (30 points total) Use this balance sheet and income statement from Carver Enterprises to complete parts a and b:
a. (15 points) Prepare a common size balance sheet for Carver Enterprises. Complete the common-size balance sheet: (Round to one decimal place.)
Common−Size Balance Sheet
2013
Cash and marketable securities
$
490
%
Accounts receivable
5,990
Inventories
9,550
Current assets
$
16,030
%
Net property plant and equipment
17,030
Total assets
$
33,060
%
Accounts payable
$
7,220
%
Short−term debt
6,800
Current liabilities
$
14,020
%
Long−term liabilities
7,010
Total liabilities
$
21,030
%
Total owners’ equity
12,030
Total liabilities and owners’ equity
$
33,060
%
b. (15 points) Prepare a common-size income statement for Carver Enterprises. Com ...
For this assignment, you will complete the Financial Overview compon.docx
For this assignment, you will complete the Financial Overview component of your course project. To complete this assignment, use the Financial Analysis Toolkit Excel file, provided in the Resources, to complete a financial analysis of your chosen company (Apple Inc,) over the last two most recent years available in annual reports. Replace the numbers provided in the Excel file with the appropriate numbers for your firm. Then, write a 2–3 page financial analysis of your company, addressing the following elements:
Identify your company, its industry, and analyze the important segments (percentage of sales or subsidiaries) of your company compared to its industry and its overall business.
Perform a complete financial analysis of your chosen company's financial statements—horizontal, vertical (Percentage of Sales and Common-Size), and changes in ratios—for the last two years.
Compare all ratios to industry averages. Evaluate the company's ratios against the industry averages.
Explain the significance of the company's ratios when compared to industry averages.
Analyze the company's cash flows.
Assess the overall financial health of your company based on this financial analysis.
A great way to integrate your completed calculations from your Excel sheet into your written analysis is to paste pieces of the worksheet directly into your Word document. You are also encouraged to create graphs or charts from the data that may illustrate your analyses as well.
Tool Kit for Analysis of Financial Statements
Financial statements are analyzed by calculating certain key ratios and then comparing them with the ratios of other firms and by examining the trends in ratios over time.
We can also combine ratios to make the analysis more revealing, those indicated below are exceptionally useful for this type of analysis.
RATIO ANALYSIS (Section 3.1)
*NVIDIA Fiscal Years starts and ends on Jan 31, such that FY13 represents Jan 31,2012 to Jan31, 2013
Input Data:
2013
2012
Year-end common stock price
$12.26
$13.86
Year-end shares outstanding (in thousands)
616,756
612,191
Tax rate
15%
12%
After-tax cost of capital
Lease payments (in thousands)
$18,998
$21,439
Required sinking fund payments
$0
$0
Balance Sheets
(in thousands of dollars)
Assets
2013
2012
Cash and equivalents
$906,223
$767,218
* Added to cash and quivalents prepaid expense and deferred income taxes
Short-term investments
$2,995,097
$2,461,700
2013
2012
Accounts receivable
$454,252
$336,143
69,701
49,411
prepaid expenses and other
Inventories
$419,686
$340,297
103,736
49,931
deferred income taxes
Total current assets
$4,775,258
$3,905,358
Net plant and equipment
$1,636,987
$1,647,570
* In addition to equpment also includes goodwill, intangible assets, and other assets
Total assets
$6,412,245
$5,552,928
2013
2012
641,030
641,030
goodwill
.
Exercise 8-4The ledger of Wainwright Company at the end of the c.docx
Exercise 8-4
The ledger of Wainwright Company at the end of the current year shows Accounts Receivable $76,000; Credit Sales $986,000; and Sales Returns and Allowances $42,200. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
(a)
If Wainwright uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Wainwright determines that Hiller’s $1,000 balance is uncollectible.
(b)
If Allowance for Doubtful Accounts has a credit balance of $1,200 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 11% of accounts receivable.
(c)
If Allowance for Doubtful Accounts has a debit balance of $950 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 8% of accounts receivable.
No.
Account Titles and Explanation
Debit
Credit
(a)
(b)
(c)
Exercise 8-11
Suppose the following information was taken from the 2014 financial statements of FedEx Corporation, a major global transportation/delivery company.
(in millions)
2014
2013
Accounts receivable (gross)
$ 3,678
$ 4,608
Accounts receivable (net)
3,374
4,330
Allowance for doubtful accounts
304
278
Sales revenue
34,275
37,054
Total current assets
7,104
7,206
Answer each of the following questions.
Calculate the accounts receivable turnover and the average collection period for 2014 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.)
Accounts receivable turnover
times
The average collection period for 2014
days
Broadening Your Perspective 8-1
The financial statements of Tootsie Roll are presented below.
TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF
Earnings, Comprehensive Earnings and Retained Earnings (in thousands except per share data)
For the year ended December 31,
2011
2010
2009
Net product sales
$528,369
$517,149
$495,592
Rental and royalty revenue
4,136
4,299
3,739
Total revenue
532,505
521,448
499,331
Product cost of goods sold
365,225
349,334
319,775
Rental and royalty cost
1,038
1,088
852
Total costs
366,263
350,422
320,627
Product gross margin
163,144
167,815
175,817
Rental and royalty gross margin
3,098
3,211
2,887
Total gross margin
166,242
171,026
178,704
Selling, marketing and administrative expenses
108,276
106,316
103,755
Impairment charges
—
—
14,000
Earnings from operations
57,966
64,710
60,949
Other income (expense), net
2,946
8,358
2,100
Earnings before income taxes
60,912
73,068
63,049
Provision for income taxes
16,974
20,005
9,892
Net earnings
$43,938
$53,063
$53,157
Net earnings
$43,938
$53,063
$53,157
Other comprehensive earnings (loss)
(8,740
)
1,183
2,845
Comprehensive earnings
...
Due Tues., May 2- 7 questions Big Time Picture Frames h.docx
Due Tues., May 2- 7 questions
Big Time Picture Frames has asked you to determine whether the company's ability to pay current
liabilities and total liabilities improved or deteriorated during 2009. To answer this question, you gather the
following data:
______________________________________________2009__________2008
Cash $52, 000 51, 000
Short-term investments 30,000 --
Net receivables 110,000 120, 000
Inventory 217,000 262,000
Total assets 540,000 490,000
Total current liabilities 265,000 202,000
Long-term note payable 44,000 54,000
Income from operations 165,000 153,000
Interest expense 44,000 37,000
Requirement
1. Compute the following ratios for 2009 and 2008:
a. Current ratio
b. Acid-test ratio
c. Debt ratio
d. Times-interest-earned ratio
a. Calculate the current ratio for both years. (Round your answers to two decimal places.)
2009: nothing
2008: nothing
The Variline Inc., comparative income statement follows. 2010 data are given as needed.
Variline, Inc.
Comparative Income Statement
Years Ended December 31, 2012 and 2011
(Dollars in thousands) 2012 2011 2010
Net sales $176,000 $160,000
Cost of goods sold 93,600 86,000
Selling and general expenses 46,800 41,400
Interest expense 9,600 10,900
Income tax expense 10,200 9,200
Net income $15,800 $12,500
Additional data:
Total assets $201,000 $192,000 $174,000
Common stockholders' equity $96,900 $89,800 $79,500
Preferred dividends $3,400 $3,400 $0
Common shares outstanding during the
year 20,000 20,000 18,000
Requirements
1. Calculate the rate of return on net sales.
2. Calculate the rate of return on total assets.
3. Calculate the rate of return on common stockholders' equity.
4. Calculate the EPS.
5. Did the company's operating performance improve or deteriorate during 2012?
Requirement 1. Calculate the rates of return on net sales for 2012 and 2011. (Round your answers to
three decimal places.)
2012:
nothing
2011: nothing
The Specialty Department Stores, Inc., chief executive officer (CEO) has asked you to compare the
company's profit performance and financial position with the average for the industry. The CEO has
given you the company's income statement and balance sheet, as well as the industry average data for
retailers.
Specialty Department Stores, Inc.
Income Statement Compared with Industry Average
Year Ended December 31, 2010
Industry
Specialty Average
Net sales $782,000 100.0 %
Cost of goods sold 526,286 65.8
Gross profit 255,714 34.2
Operating expenses 164,220 19.7
Operating income 91,494 14.5
Other expenses 6,256 0.4
Net income $85,238 14.1 %
Specialty Department Stores, Inc.
Balance Sheet Compared with Industry Average
December 31, 2010
...
I am working on a Supply Chain problem and I am struggling to find t.pdf
I am working on a Supply Chain problem and I am struggling to find the following:
Profit Margin
Asset Turnover
Cash to Cash (C2C)
Accounts Receivable Turnover (ART)
Inventory Turnover (INVT)
Property, plant, and equipment Turnover (PPET)
Please show work so I can follow! Year End January 31, 2013 ($ millions) Net Operating
Revenues Cost of Goods Sold Gross Profit Selling, General and administrative expense
Operating Income Interest Expense Other income (loss) net Income before income taxes ncome
taxes Net Income Walmart 469,162 352,488 1,166,745 88,873 27,801 2,251 187 25,737 7,981
17,756 Assets Cash and cash equivalents Net receivables Inventories Total current assets
Property, plant, and equipment Goodwill Other assets Total assets 7,781 6,768 43,803 59,940
116,681 20,497 5,987 203,105 Liabilities and Stockholder Equity Accounts payable Short-term
debt Total current liability Long-termm debt Total liabilities Stockholder equity 59,099 12,719
71,818 41,417 126,243 76,343
Solution
= Net income/net sales x100
=$17,756/$469,162 x 100
=3.78
=Net sales/Average total assets
=$469,162/$203,105
=2.31
= Cash + Cash equivalents/
=$7,781/$71,818=0.11
4.Accounts receivable turnover
=Net credit sales/Average accounts receivables
=$469,162/$6,768=69.32
5.Inventory Turnover
=Cost of Goods sold/Average inventory
=$352,488/$43,803
=8.05
6.Property ,Plant and equipment Turnover
=Net sales/ Net Property ,Plant and equipment
=$469,162/$116,681
=4.02.
InstructionsRevised on 11-25-2022Project 1- Step 4- Instructions for T.docx
Instructions
Tab 1_BalanceSheet & Inc.State
Tab 2_Ratio Analysis
Tab 3_Common-size Analysis
Tab 4_Cash Flow Analysis
.
Introduction ot Mangerial Finance - Chapter 2 by: Scott Besley & Eugene Brigham
---FINANCE----
CHAPTER 2
Assignment oneDeliverable Length 5 - 7 slides with speaker n.docx
Assignment one
Deliverable Length: 5 - 7 slides with speaker notes of 200 - 250 words per slide (excluding Title and Reference slides)
You, as a HR Generalist, have been asked by your HR Director for your recommendations in terms of what tools your organization could use to better manage the talents of your employees. This will help to develop policies and procedures in managing your human capital. Please develop a PowerPoint presentation to your Director addressing the following:
· Describe and analyze the broad range of talent management efforts that use software applications to help you Director to make an educated decision.
· Give some examples of firms that have successfully used these applications.
· Describe how these efforts are useful in terms of strategic human capital management.
Assignment two
Deliverable Length: 7-10 pages
You are the Chief Human Resource Officer (CHRO) at your organization. As the CHRO, one of your primary roles is to be the workforce strategist. Your organization is planning to expand business operations to your neighboring state by opening an office. As a result of this expansion, your organization needs to make sure that the best and brightest employees are recruited to fill key roles at the new office. Write a 7-10 page research paper using APA style outlining the steps involved in recruiting the staff at the new office.
Grading Criteria:
1. The student researched the legal statues affecting the selection and hiring of employees.
2. The student identified the number and type of positions that need to be filled at the new office. Moreover, the student discussed qualifications, e.g., education level and number of years of experience, associated with each position.
3. The student researched, evaluated and chose several selection devices such as interviews or ability tests to reject or accept applicants. Moreover, the student assessed the weaknesses and strengths of these selection devices.
4. The student researched, evaluated and chose whether or not to utilize integrity testing and drug testing.
5. The student applied correct APA, style, usage, grammar, and punctuation.
6. The student supported the research paper with at least four different scholarly sources such as research journals, research studies, government or accredited educational institutions websites.
Use the following information to answer this question.
The most recent balance sheet and income statement of Tcramoto Corporation appear below;
Comparative Balance Sheet
Assets:
Cash and eash equivalents
A c c o u n t s receivable
Inventory
Plant and equipment
Less accumulated depreciation
Total assets
L i a b i l i t i e s and stockholders' equity
Accounts payable
Wages payable
Taxes payable
Bonds payable
Deferred taxes
Common stock
Retained earnings
Total l i a b i l i t i e s and stockholders' equity
Ending
Balance
$43
53
73
582
301
$450
$57
21
15
21
20
55
261
$450
Beginning
Balance
S35
59
69
490
286
$367
$48
18
13
20
21
...
Chapter 18, Question 1- The following is the financial statement o.docx
Chapter 18, Question 1- The following is the financial statement of Executive Fruit Company for the year ended December 2014.
INCOME STATEMENT, 2014
(Figures in $ Thousands)
Revenue
$
3,500
Cost of goods sold
3,150
EBIT
$
350
Interest
70
Earnings before taxes
$
280
State and federal tax
112
Net income
$
168
Dividends
112
Additions to retained earnings
$
56
BALANCE SHEET (Year-End, 2014)
(Figures in $ Thousands)
Assets
Net working capital
$
350
Fixed assets
1,400
Total assets
$
1,750
Liabilities and shareholders' equity
Long-term debt
$
700
Shareholders' equity
1,050
Total liabilities and shareholders' equity
$
1,750
The following are the first stage and second stage pro forma financial statements of Executive Fruit Company for the year ended December 2015.
First stage pro forma statements:
PRO FORMA INCOME STATEMENT, 2015
(Figures in $ Thousands)
Revenue
$
3,850
Cost of goods sold
3,465
EBIT
$
385
Interest
70
Earnings before taxes
$
315
State and federal tax
126
Net income
$
189
Dividends
126
Additions to retained earnings
$
63
PRO FORMA BALANCE SHEET (Year-End, 2015)
(Figures in $ Thousands)
Assets
Net working capital
$
385
Fixed assets
1,540
Total assets
$
1,925
Liabilities and shareholders' equity
Long-term debt
$
700
Shareholders' equity
1,113
Total liabilities and shareholders' equity
$
1,813
Required external financing
$
112
Second stage pro forma balance sheet:
PRO FORMA BALANCE SHEET (Year-End, 2015)
(Figures in $ Thousands)
Assets
Net working capital
$
385
Fixed assets
1,540
Total assets
$
1,925
Liabilities and shareholders' equity
Long-term debt
$
812
Shareholders' equity
1,113
Total liabilities and shareholders' equity
$
1,925
How would Executive Fruit’s financial model change if the dividend payout ratio were cut to 1/3? Use the revised model to generate a new financial plan for 2015 assuming that debt is the balancing item. What would be the required external financing? (Do not round intermediate calculations.)
Dividends fall by $ . Therefore, the requirement for external financing falls from $ to $ . On the other hand, shareholders' equity will be increased by $ .
The right-hand side of the balance sheet becomes (Do not round intermediate calculations. Enter your answers in thousands.):
Long-term debt
$
Shareholders' equity
Total
$
Chapter 18, Question 2- Find the sustainable and internal growth rates for a firm with the following ratios: asset turnover = 1.60; profit margin = 6%; payout ratio = 30%; equity/assets = .50. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)
Sustainable growth rate
%
Internal growth rat ...
The Howit Department store is located in midtown Metro.During th.docx
The Howit Department store is located in midtown Metro.
During the past several years, net income has been declining because of suburban shopping centers.
At the close of the year ended
December 31,2007, the following accounts appeared in two of its trial balances.
.
Trial Balances
Unadjusted
Adjusted
Difference Increase/(Decrease)
Accounts Payable
$37,310
$37,310
$0
Accounts Receivable
12,770
12,770
0
Accumulated Depreciation-Delivery Equipment
15,680
19,680
4,000
Accumulated Depreciation-Store Equipment
32,300
41,800
9,500
Cash
7,000
7,000
0
Delivery Expense
8,200
8,200
0
Delivery Equipment
57,000
57,000
0
Depreciation Expense-Delivery Equipment
4,000
4,000
Depreciation Expense-Store Equipment
9,500
9,500
Freight-in
5,060
5,060
0
Common Stock
70,000
70,000
0
Retained Earnings
14,200
14,200
0
Dividends
12,000
12,000
0
Insurance Expense
9,000
9,000
Interest Expense
8,000
8,000
0
Interest Revenue
5,000
5,000
0
Merchandise Inventory
34,360
34,360
0
Notes Payable
46,000
46,000
0
Prepaid Insurance
13,500
4,500
(9,000)
Property Tax Expense
3,500
3,500
Purchases
640,000
640,000
0
Purchase Discounts
7,000
7,000
0
Purchase Returns and Allowances
3,000
3,000
0
Rent Expense
19,600
19,600
0
Salaries Expense
120,000
120,000
0
Sales
860,000
860,000
0
Sales Commissions Expense
8,000
14,000
6,000
Sales Commissions Payable
6,000
6,000
Sales Returns and Allowances
10,000
10,000
0
Store Equipment
125,000
125,000
0
Property Taxes Payable
3,500
3,500
Utilities Expense
10,000
10,000
0
Analysis
reveals
the following additional data:
1.
Salaries expense is
70%
selling and
30%
administrative.
2.
Insurance expense is
50%
selling and
50%
administrative.
3.
A physical inventory was conduced for year ended December 31, 2007 and the inventory was valued at $36,200.
4.
Rent expense, utilities expense, and property tax expense are administrative expenses.
5.
$10,000 of the Notes payable is due for payment next year.
6.
The beginning balance of accounts receivable is $10,750.
7.
The amount of total assets at the beginning of the year is $198,275.
Instructions
1)
Journalize the adjusting entries that were made by the company.
2)
Prepare a multiple-step income statement and a retained earnings statement for the year and a classified balance sheet as of December 31, 2007.
3)
Journalize the closing entries.
4)
Prepare a post-closing trial balance.
5)
Prepare the following ratios and show all support for your computations:
a) Current Ratio
b) Quick Ratio
c) Working Capital
d) Accounts Receivable Turnover
e) Average Collection Period
f) Inventory Turnover
g) Days in Inventory
h )Debt to Total Assets Ratio
i) Gross Profit Ratio
j) Profit Margin Ratio
k) Return on Assets Ratio
l) Asset Turnover Ratio
6) Based on the ratios computed in 5) above, answer the following questions and use the financial statement ratios to support your answers where appropriate:
·
Do you feel that the company is able to meet its current a.
Example of ActiveDisclosure Linked Audit Committee Package
Did you know that AD can support dynamic linking of Excel tables between projects and Board Reports? If you have clients interested in this functionality, ActiveDisclosure's Document Solutions is available to demonstrate and assist.
Problem 12-9AYour answer is partially correct. Try again..docx
Problem 12-9A
Your answer is partially correct. Try again.
Condensed financial data of Odgers Inc. follow.
ODGERS INC.Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 131,704
$ 78,892
Accounts receivable
143,114
61,940
Inventory
183,375
167,646
Prepaid expenses
46,292
42,380
Long-term investments
224,940
177,670
Plant assets
464,550
395,275
Accumulated depreciation
(81,500
)
(84,760
)
Total
$1,112,475
$839,043
Liabilities and Stockholders’ Equity
Accounts payable
$ 166,260
$ 109,699
Accrued expenses payable
26,895
34,230
Bonds payable
179,300
237,980
Common stock
358,600
285,250
Retained earnings
381,420
171,884
Total
$1,112,475
$839,043
ODGERS INC.Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$633,190
Less:
Cost of goods sold
$220,800
Operating expenses, excluding depreciation
20,228
Depreciation expense
75,795
Income tax expense
44,466
Interest expense
7,710
Loss on disposal of plant assets
12,225
381,224
Net income
$ 251,966
Additional information:
1.
New plant assets costing $163,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $93,725 and accumulated depreciation of $79,055 were sold for $2,445 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $42,430 was declared and paid during the year.
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).)
ODGERS INC.Statement of Cash Flows
For the Year Ended December 31, 2014
$
Adjustments to reconcile net income to
$
$
Problem 12-10A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 151,904
$ 90,992
Accounts receivable
165,064
71,440
Inventory
211,500
193,358
Prepaid expenses
53,392
48,880
Long-term investments
259,440
204,920
Plant assets
535,800
455,900
Accumulated depreciation
(94,000
)
(97,760
)
Total
$1,283,100
$967,730
Liabilities and Stockholders’ Equity
Accounts payable
$ 191,760
$ 126,524
Accrued expenses payable
31,020
39,480
Bonds payable
206,800
274,480
Common stock
413,600
329,000
Retained earnings
439,920
198,246
Total
$1,283,100
$967,730
ODGERS INC.Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$730,305
Less:
Cost of goods sold
$254,665
Operating expenses, excluding depreciation
23,331
Depreciation expense
87,420
Income taxes
51,286
Interest expense
8,892
Loss on disposal of plant assets
14,100
439,694
Net income
$ 290,611
Additional information:
1.
New plant assets costing $188,000 were purchased for c.
(TCO A) Which one of the following is an advantage of corporatio.docx
(TCO A) Which one of the following is an advantage of corporations relative to partnerships and sole proprietorships? (Points : 5)
Reduced legal liability for investors
Harder to transfer ownership
Lower taxes
Most common form of organization
Question 2. 2. (TCO A) When a corporation distributes a dividend, _____. (Points : 5)
the most common form of distribution is a cash dividend
the Dividends account will be increased with a credit
the Retained Earnings account will be directly increased with a debit
the Dividends account will be decreased with a debit
Question 3. 3. (TCOs A, B) Below is a partial list of account balances for Cerner Company:
Cash $5,000
Prepaid insurance 500
Accounts receivable 2,500
Accounts payable 2,000
Notes payable 3,000
Common stock 1,000
Dividends 500
Revenues 15,000
Expenses 12,500
What did Cerner Company show as total credits? (Points : 5)
$21,500
$21,000
$20,500
$22,000
Question 4. 4. (TCOs B, E) Under the accrual basis of accounting, _____. (Points : 5)
cash must be received before revenue is recognized
net income is calculated by matching cash outflows against cash inflows
events that change a company's financial statements are recognized in the period they occur rather than in the period in which cash is paid or received
the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles
Question 5. 5. (TCO D) Three companies report the same cost of goods available for sale, but each employs a different inventory costing method. If the price of goods has increased during the period, then the company using _____. (Points : 5)
LIFO will have the highest ending inventory
FIFO will have the highest cost of goods sold
All three companies will have the same value for ending inventory.
average cost will have an ending inventory value that falls between FIFO and LIFO
Question 6. 6. (TCO A, E) Equipment was purchased for $17,000 on January 1, 2006. Freight charges amounted to $700 and there was a cost of $2,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $3,000 salvage value at the end of its 5-year useful life. What is the amount of accumulated depreciation at December 31, 2007, if the straight-line method of depreciation is used? (Points : 5)
$6,680
$3,340
$2,860
$5,720
Question 7. 7. (TCOs D, G) Lopez Corporation issues 500 ten-year, 8%, $1,000 bonds dated January 1, 2007, at 96. The journal entry to record the issuance will show a _____. (Points : 5)
debit to Cash of $500,000
credit to Discount on Bonds Payable for $20,000
...
Week 5 – Term 5 Homework60 PointsDue June 10, 20121.(6 poi.docx
Week 5 – Term 5 Homework
60 Points
Due June 10, 2012
1.(6 points)
At the beginning of 2010, Zuir Company's accounting department calculated the following estimates for the coming year's production:
Estimated overhead
$441,600
Direct labor hours
9,200 hr
During the year, Zuir Company experienced $440,000 in actual overhead costs and actually worked 9,100 direct labor hours. Zuir applies overhead to production using a predetermined overhead rate based on direct labor hours.
a. Calculate the predetermined overhead rate Zuir uses to apply overhead. (Show your computations.)
b. By what amount was overhead over- or underapplied for 2010? (Show your computations.)
c. Assuming the amount of over- or underapplied overhead is not significant, will the Cost of Goods Sold account be increased or decreased to correct the application of overhead?
2.(10 points)
Yamishi Production had the following inventories for the first quarter of 20xx:
Beginning
Ending
Materials
$606,600
$522,100
Work in process
312,100
280,800
Finished goods
416,100
540,200
Purchases of materials during the quarter were $427,800. Total direct labor costs were incurred in the amount of $1,482,000. Actual overhead costs were incurred as follows: operating supplies used, $17,100; janitorial and maintenance, $87,300; employee benefits, $26,400; utilities, $162,000; depreciation of factory, $43,200; property taxes, $24,000; factory insurance, $29,000. Net sales for the quarter were $3,562,200. Selling and administrative expenses were $508,000. Income taxes should be computed at 40 percent.
Prepare a statement of cost of goods manufactured for the first quarter of 20xx.
3.(6 points)
The following information has been made available to you. Assume that overhead is applied on the basis of direct labor hours.
Estimated overhead
$1,638,000
Estimated direct labor hours
390,000
Actual direct labor hours
442,000
Actual overhead
$1,862,000
a. Compute the predetermined overhead rate.
b. Compute the amount of applied overhead for the year.
c. Compute the amount of underapplied or overapplied overhead.
4.(6 points)
Job 29 consists of 300 units and has total manufacturing costs of direct materials, $4,500; direct labor, $7,500; and overhead, $3,600.
a. What is the unit product cost?
b. What are the prime costs per unit?
c. What are the conversion costs per unit?
5.(10 points)
Cancun Company uses a FIFO process costing system.
Cancun Company
Equivalent Production
November
Physical Units
Beginning inventory
2,350
Equivalent Units
Units started this period
10,120
Direct Materials
%
Conversion Costs
%
Units to be accounted for
12,470
Beginning inventory
2,350
Units started and completed
9,120
Ending inventory
1,000
Units accounted for
12,470
The following costs relate to work in process during November:
Beginning inventory
Direct materials
$7,200
Direct labor
380
Overhead
630
Current month's costs
Direct materials
$51,612
Direct labor
21,562.
A learning organization is a dynamic business environment that encou.docx
A learning organization is a dynamic business environment that encourages and fosters continuous learning in order to compete effectively in a highly competitive 21st century economy. What are the characteristics of a learning organization, and how do these characteristics help managers and employees work together to rise to the challenges they must confront in a rapidly changing business environment?
.
A group of students were asked to vote on their favorite horror film.docx
A group of students were asked to vote on their favorite horror films. The candidate films are:
Abraham Lincoln Vampire Hunter, The Babadook, Cabin Fever, and Dead Snow (A, B, C, D for short). The following table gives the preference schedule for the election.
Number of voters
10
7
5
5
4
1
st
choice
A
D
B
C
B
2
nd
choice
C
B
C
D
C
3
rd
choice
B
A
A
A
D
4
th
choice
D
C
D
B
A
1.
How many students voted?
2.
How many first place votes are needed for a majority?
3. Use the plurality method to find the winner of the election.
4.
Use the Borda count method to find the winner of the election.
5.
Use the plurality-with-elimination method to find the winner of the election.
.
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2.
The common stock of Plaxo Enterprises had a market price of $10.44 on the day you purchased it just one year ago. During the past year, the stock paid a dividend of $1.43 and closed at a price of $11.66. What rate of return did you earn on your investment in Plaxo's stock? The rate of return you earned on Plaxo's stock is what percent?
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Time:Caswell:
1 $9
2 14
3 10
4 7
5 9
a. Calculate the average rate of return for each year from the above information.
b. What is the arithmetic average rate of return earned by investing in Caswell's stock over this period?
c. What is the geometric average rate of return earned by investing in Caswell's stock over this period?
d. Considering the beginning and ending stock prices for the five-year period are the same, which type of average rate of return best describes the annual rate of return earned over the period (arithmetic or geometric)?
e. The annual rate of return at the end of year 2 is what percent?
4. Syntex is considering an investment in one of two stocks. Given the information that follows, which investment is better, based on the risk (the standard deviation) and return?
Stock A Stock B
Probability Return Probability Return
0.20 10% 0.10 -7%
0.60 16% 0.40 5%
0.20 21% 0.40 13%
0.10 20%
Given the information in the table, what percent is the rate of return for Stock A?
BBA 3301 Unit V Assignment
Instructions: Enter all answers directly in this worksheet. When you are finished, select Save As, and save this document using your last name and student ID as the file name. Upload the data sheet to Blackboard as a .doc, .docx or .rtf file when you are finished.
Question 1. (30 points total) Use this balance sheet and income statement from Carver Enterprises to complete parts a and b:
a. (15 points) Prepare a common size balance sheet for Carver Enterprises. Complete the common-size balance sheet: (Round to one decimal place.)
Common−Size Balance Sheet
2013
Cash and marketable securities
$
490
%
Accounts receivable
5,990
Inventories
9,550
Current assets
$
16,030
%
Net property plant and equipment
17,030
Total assets
$
33,060
%
Accounts payable
$
7,220
%
Short−term debt
6,800
Current liabilities
$
14,020
%
Long−term liabilities
7,010
Total liabilities
$
21,030
%
Total owners’ equity
12,030
Total liabilities and owners’ equity
$
33,060
%
b. (15 points) Prepare a common-size income statement for Carver Enterprises. Com ...
For this assignment, you will complete the Financial Overview compon.docx
For this assignment, you will complete the Financial Overview component of your course project. To complete this assignment, use the Financial Analysis Toolkit Excel file, provided in the Resources, to complete a financial analysis of your chosen company (Apple Inc,) over the last two most recent years available in annual reports. Replace the numbers provided in the Excel file with the appropriate numbers for your firm. Then, write a 2–3 page financial analysis of your company, addressing the following elements:
Identify your company, its industry, and analyze the important segments (percentage of sales or subsidiaries) of your company compared to its industry and its overall business.
Perform a complete financial analysis of your chosen company's financial statements—horizontal, vertical (Percentage of Sales and Common-Size), and changes in ratios—for the last two years.
Compare all ratios to industry averages. Evaluate the company's ratios against the industry averages.
Explain the significance of the company's ratios when compared to industry averages.
Analyze the company's cash flows.
Assess the overall financial health of your company based on this financial analysis.
A great way to integrate your completed calculations from your Excel sheet into your written analysis is to paste pieces of the worksheet directly into your Word document. You are also encouraged to create graphs or charts from the data that may illustrate your analyses as well.
Tool Kit for Analysis of Financial Statements
Financial statements are analyzed by calculating certain key ratios and then comparing them with the ratios of other firms and by examining the trends in ratios over time.
We can also combine ratios to make the analysis more revealing, those indicated below are exceptionally useful for this type of analysis.
RATIO ANALYSIS (Section 3.1)
*NVIDIA Fiscal Years starts and ends on Jan 31, such that FY13 represents Jan 31,2012 to Jan31, 2013
Input Data:
2013
2012
Year-end common stock price
$12.26
$13.86
Year-end shares outstanding (in thousands)
616,756
612,191
Tax rate
15%
12%
After-tax cost of capital
Lease payments (in thousands)
$18,998
$21,439
Required sinking fund payments
$0
$0
Balance Sheets
(in thousands of dollars)
Assets
2013
2012
Cash and equivalents
$906,223
$767,218
* Added to cash and quivalents prepaid expense and deferred income taxes
Short-term investments
$2,995,097
$2,461,700
2013
2012
Accounts receivable
$454,252
$336,143
69,701
49,411
prepaid expenses and other
Inventories
$419,686
$340,297
103,736
49,931
deferred income taxes
Total current assets
$4,775,258
$3,905,358
Net plant and equipment
$1,636,987
$1,647,570
* In addition to equpment also includes goodwill, intangible assets, and other assets
Total assets
$6,412,245
$5,552,928
2013
2012
641,030
641,030
goodwill
.
Exercise 8-4The ledger of Wainwright Company at the end of the c.docx
Exercise 8-4
The ledger of Wainwright Company at the end of the current year shows Accounts Receivable $76,000; Credit Sales $986,000; and Sales Returns and Allowances $42,200. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
(a)
If Wainwright uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Wainwright determines that Hiller’s $1,000 balance is uncollectible.
(b)
If Allowance for Doubtful Accounts has a credit balance of $1,200 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 11% of accounts receivable.
(c)
If Allowance for Doubtful Accounts has a debit balance of $950 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 8% of accounts receivable.
No.
Account Titles and Explanation
Debit
Credit
(a)
(b)
(c)
Exercise 8-11
Suppose the following information was taken from the 2014 financial statements of FedEx Corporation, a major global transportation/delivery company.
(in millions)
2014
2013
Accounts receivable (gross)
$ 3,678
$ 4,608
Accounts receivable (net)
3,374
4,330
Allowance for doubtful accounts
304
278
Sales revenue
34,275
37,054
Total current assets
7,104
7,206
Answer each of the following questions.
Calculate the accounts receivable turnover and the average collection period for 2014 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.)
Accounts receivable turnover
times
The average collection period for 2014
days
Broadening Your Perspective 8-1
The financial statements of Tootsie Roll are presented below.
TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF
Earnings, Comprehensive Earnings and Retained Earnings (in thousands except per share data)
For the year ended December 31,
2011
2010
2009
Net product sales
$528,369
$517,149
$495,592
Rental and royalty revenue
4,136
4,299
3,739
Total revenue
532,505
521,448
499,331
Product cost of goods sold
365,225
349,334
319,775
Rental and royalty cost
1,038
1,088
852
Total costs
366,263
350,422
320,627
Product gross margin
163,144
167,815
175,817
Rental and royalty gross margin
3,098
3,211
2,887
Total gross margin
166,242
171,026
178,704
Selling, marketing and administrative expenses
108,276
106,316
103,755
Impairment charges
—
—
14,000
Earnings from operations
57,966
64,710
60,949
Other income (expense), net
2,946
8,358
2,100
Earnings before income taxes
60,912
73,068
63,049
Provision for income taxes
16,974
20,005
9,892
Net earnings
$43,938
$53,063
$53,157
Net earnings
$43,938
$53,063
$53,157
Other comprehensive earnings (loss)
(8,740
)
1,183
2,845
Comprehensive earnings
...
Due Tues., May 2- 7 questions Big Time Picture Frames h.docx
Due Tues., May 2- 7 questions
Big Time Picture Frames has asked you to determine whether the company's ability to pay current
liabilities and total liabilities improved or deteriorated during 2009. To answer this question, you gather the
following data:
______________________________________________2009__________2008
Cash $52, 000 51, 000
Short-term investments 30,000 --
Net receivables 110,000 120, 000
Inventory 217,000 262,000
Total assets 540,000 490,000
Total current liabilities 265,000 202,000
Long-term note payable 44,000 54,000
Income from operations 165,000 153,000
Interest expense 44,000 37,000
Requirement
1. Compute the following ratios for 2009 and 2008:
a. Current ratio
b. Acid-test ratio
c. Debt ratio
d. Times-interest-earned ratio
a. Calculate the current ratio for both years. (Round your answers to two decimal places.)
2009: nothing
2008: nothing
The Variline Inc., comparative income statement follows. 2010 data are given as needed.
Variline, Inc.
Comparative Income Statement
Years Ended December 31, 2012 and 2011
(Dollars in thousands) 2012 2011 2010
Net sales $176,000 $160,000
Cost of goods sold 93,600 86,000
Selling and general expenses 46,800 41,400
Interest expense 9,600 10,900
Income tax expense 10,200 9,200
Net income $15,800 $12,500
Additional data:
Total assets $201,000 $192,000 $174,000
Common stockholders' equity $96,900 $89,800 $79,500
Preferred dividends $3,400 $3,400 $0
Common shares outstanding during the
year 20,000 20,000 18,000
Requirements
1. Calculate the rate of return on net sales.
2. Calculate the rate of return on total assets.
3. Calculate the rate of return on common stockholders' equity.
4. Calculate the EPS.
5. Did the company's operating performance improve or deteriorate during 2012?
Requirement 1. Calculate the rates of return on net sales for 2012 and 2011. (Round your answers to
three decimal places.)
2012:
nothing
2011: nothing
The Specialty Department Stores, Inc., chief executive officer (CEO) has asked you to compare the
company's profit performance and financial position with the average for the industry. The CEO has
given you the company's income statement and balance sheet, as well as the industry average data for
retailers.
Specialty Department Stores, Inc.
Income Statement Compared with Industry Average
Year Ended December 31, 2010
Industry
Specialty Average
Net sales $782,000 100.0 %
Cost of goods sold 526,286 65.8
Gross profit 255,714 34.2
Operating expenses 164,220 19.7
Operating income 91,494 14.5
Other expenses 6,256 0.4
Net income $85,238 14.1 %
Specialty Department Stores, Inc.
Balance Sheet Compared with Industry Average
December 31, 2010
...
I am working on a Supply Chain problem and I am struggling to find t.pdf
I am working on a Supply Chain problem and I am struggling to find the following:
Profit Margin
Asset Turnover
Cash to Cash (C2C)
Accounts Receivable Turnover (ART)
Inventory Turnover (INVT)
Property, plant, and equipment Turnover (PPET)
Please show work so I can follow! Year End January 31, 2013 ($ millions) Net Operating
Revenues Cost of Goods Sold Gross Profit Selling, General and administrative expense
Operating Income Interest Expense Other income (loss) net Income before income taxes ncome
taxes Net Income Walmart 469,162 352,488 1,166,745 88,873 27,801 2,251 187 25,737 7,981
17,756 Assets Cash and cash equivalents Net receivables Inventories Total current assets
Property, plant, and equipment Goodwill Other assets Total assets 7,781 6,768 43,803 59,940
116,681 20,497 5,987 203,105 Liabilities and Stockholder Equity Accounts payable Short-term
debt Total current liability Long-termm debt Total liabilities Stockholder equity 59,099 12,719
71,818 41,417 126,243 76,343
Solution
= Net income/net sales x100
=$17,756/$469,162 x 100
=3.78
=Net sales/Average total assets
=$469,162/$203,105
=2.31
= Cash + Cash equivalents/
=$7,781/$71,818=0.11
4.Accounts receivable turnover
=Net credit sales/Average accounts receivables
=$469,162/$6,768=69.32
5.Inventory Turnover
=Cost of Goods sold/Average inventory
=$352,488/$43,803
=8.05
6.Property ,Plant and equipment Turnover
=Net sales/ Net Property ,Plant and equipment
=$469,162/$116,681
=4.02.
InstructionsRevised on 11-25-2022Project 1- Step 4- Instructions for T.docx
Instructions
Tab 1_BalanceSheet & Inc.State
Tab 2_Ratio Analysis
Tab 3_Common-size Analysis
Tab 4_Cash Flow Analysis
.
Introduction ot Mangerial Finance - Chapter 2 by: Scott Besley & Eugene Brigham
---FINANCE----
CHAPTER 2
Assignment oneDeliverable Length 5 - 7 slides with speaker n.docx
Assignment one
Deliverable Length: 5 - 7 slides with speaker notes of 200 - 250 words per slide (excluding Title and Reference slides)
You, as a HR Generalist, have been asked by your HR Director for your recommendations in terms of what tools your organization could use to better manage the talents of your employees. This will help to develop policies and procedures in managing your human capital. Please develop a PowerPoint presentation to your Director addressing the following:
· Describe and analyze the broad range of talent management efforts that use software applications to help you Director to make an educated decision.
· Give some examples of firms that have successfully used these applications.
· Describe how these efforts are useful in terms of strategic human capital management.
Assignment two
Deliverable Length: 7-10 pages
You are the Chief Human Resource Officer (CHRO) at your organization. As the CHRO, one of your primary roles is to be the workforce strategist. Your organization is planning to expand business operations to your neighboring state by opening an office. As a result of this expansion, your organization needs to make sure that the best and brightest employees are recruited to fill key roles at the new office. Write a 7-10 page research paper using APA style outlining the steps involved in recruiting the staff at the new office.
Grading Criteria:
1. The student researched the legal statues affecting the selection and hiring of employees.
2. The student identified the number and type of positions that need to be filled at the new office. Moreover, the student discussed qualifications, e.g., education level and number of years of experience, associated with each position.
3. The student researched, evaluated and chose several selection devices such as interviews or ability tests to reject or accept applicants. Moreover, the student assessed the weaknesses and strengths of these selection devices.
4. The student researched, evaluated and chose whether or not to utilize integrity testing and drug testing.
5. The student applied correct APA, style, usage, grammar, and punctuation.
6. The student supported the research paper with at least four different scholarly sources such as research journals, research studies, government or accredited educational institutions websites.
Use the following information to answer this question.
The most recent balance sheet and income statement of Tcramoto Corporation appear below;
Comparative Balance Sheet
Assets:
Cash and eash equivalents
A c c o u n t s receivable
Inventory
Plant and equipment
Less accumulated depreciation
Total assets
L i a b i l i t i e s and stockholders' equity
Accounts payable
Wages payable
Taxes payable
Bonds payable
Deferred taxes
Common stock
Retained earnings
Total l i a b i l i t i e s and stockholders' equity
Ending
Balance
$43
53
73
582
301
$450
$57
21
15
21
20
55
261
$450
Beginning
Balance
S35
59
69
490
286
$367
$48
18
13
20
21
...
Chapter 18, Question 1- The following is the financial statement o.docx
Chapter 18, Question 1- The following is the financial statement of Executive Fruit Company for the year ended December 2014.
INCOME STATEMENT, 2014
(Figures in $ Thousands)
Revenue
$
3,500
Cost of goods sold
3,150
EBIT
$
350
Interest
70
Earnings before taxes
$
280
State and federal tax
112
Net income
$
168
Dividends
112
Additions to retained earnings
$
56
BALANCE SHEET (Year-End, 2014)
(Figures in $ Thousands)
Assets
Net working capital
$
350
Fixed assets
1,400
Total assets
$
1,750
Liabilities and shareholders' equity
Long-term debt
$
700
Shareholders' equity
1,050
Total liabilities and shareholders' equity
$
1,750
The following are the first stage and second stage pro forma financial statements of Executive Fruit Company for the year ended December 2015.
First stage pro forma statements:
PRO FORMA INCOME STATEMENT, 2015
(Figures in $ Thousands)
Revenue
$
3,850
Cost of goods sold
3,465
EBIT
$
385
Interest
70
Earnings before taxes
$
315
State and federal tax
126
Net income
$
189
Dividends
126
Additions to retained earnings
$
63
PRO FORMA BALANCE SHEET (Year-End, 2015)
(Figures in $ Thousands)
Assets
Net working capital
$
385
Fixed assets
1,540
Total assets
$
1,925
Liabilities and shareholders' equity
Long-term debt
$
700
Shareholders' equity
1,113
Total liabilities and shareholders' equity
$
1,813
Required external financing
$
112
Second stage pro forma balance sheet:
PRO FORMA BALANCE SHEET (Year-End, 2015)
(Figures in $ Thousands)
Assets
Net working capital
$
385
Fixed assets
1,540
Total assets
$
1,925
Liabilities and shareholders' equity
Long-term debt
$
812
Shareholders' equity
1,113
Total liabilities and shareholders' equity
$
1,925
How would Executive Fruit’s financial model change if the dividend payout ratio were cut to 1/3? Use the revised model to generate a new financial plan for 2015 assuming that debt is the balancing item. What would be the required external financing? (Do not round intermediate calculations.)
Dividends fall by $ . Therefore, the requirement for external financing falls from $ to $ . On the other hand, shareholders' equity will be increased by $ .
The right-hand side of the balance sheet becomes (Do not round intermediate calculations. Enter your answers in thousands.):
Long-term debt
$
Shareholders' equity
Total
$
Chapter 18, Question 2- Find the sustainable and internal growth rates for a firm with the following ratios: asset turnover = 1.60; profit margin = 6%; payout ratio = 30%; equity/assets = .50. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)
Sustainable growth rate
%
Internal growth rat ...
The Howit Department store is located in midtown Metro.During th.docx
The Howit Department store is located in midtown Metro.
During the past several years, net income has been declining because of suburban shopping centers.
At the close of the year ended
December 31,2007, the following accounts appeared in two of its trial balances.
.
Trial Balances
Unadjusted
Adjusted
Difference Increase/(Decrease)
Accounts Payable
$37,310
$37,310
$0
Accounts Receivable
12,770
12,770
0
Accumulated Depreciation-Delivery Equipment
15,680
19,680
4,000
Accumulated Depreciation-Store Equipment
32,300
41,800
9,500
Cash
7,000
7,000
0
Delivery Expense
8,200
8,200
0
Delivery Equipment
57,000
57,000
0
Depreciation Expense-Delivery Equipment
4,000
4,000
Depreciation Expense-Store Equipment
9,500
9,500
Freight-in
5,060
5,060
0
Common Stock
70,000
70,000
0
Retained Earnings
14,200
14,200
0
Dividends
12,000
12,000
0
Insurance Expense
9,000
9,000
Interest Expense
8,000
8,000
0
Interest Revenue
5,000
5,000
0
Merchandise Inventory
34,360
34,360
0
Notes Payable
46,000
46,000
0
Prepaid Insurance
13,500
4,500
(9,000)
Property Tax Expense
3,500
3,500
Purchases
640,000
640,000
0
Purchase Discounts
7,000
7,000
0
Purchase Returns and Allowances
3,000
3,000
0
Rent Expense
19,600
19,600
0
Salaries Expense
120,000
120,000
0
Sales
860,000
860,000
0
Sales Commissions Expense
8,000
14,000
6,000
Sales Commissions Payable
6,000
6,000
Sales Returns and Allowances
10,000
10,000
0
Store Equipment
125,000
125,000
0
Property Taxes Payable
3,500
3,500
Utilities Expense
10,000
10,000
0
Analysis
reveals
the following additional data:
1.
Salaries expense is
70%
selling and
30%
administrative.
2.
Insurance expense is
50%
selling and
50%
administrative.
3.
A physical inventory was conduced for year ended December 31, 2007 and the inventory was valued at $36,200.
4.
Rent expense, utilities expense, and property tax expense are administrative expenses.
5.
$10,000 of the Notes payable is due for payment next year.
6.
The beginning balance of accounts receivable is $10,750.
7.
The amount of total assets at the beginning of the year is $198,275.
Instructions
1)
Journalize the adjusting entries that were made by the company.
2)
Prepare a multiple-step income statement and a retained earnings statement for the year and a classified balance sheet as of December 31, 2007.
3)
Journalize the closing entries.
4)
Prepare a post-closing trial balance.
5)
Prepare the following ratios and show all support for your computations:
a) Current Ratio
b) Quick Ratio
c) Working Capital
d) Accounts Receivable Turnover
e) Average Collection Period
f) Inventory Turnover
g) Days in Inventory
h )Debt to Total Assets Ratio
i) Gross Profit Ratio
j) Profit Margin Ratio
k) Return on Assets Ratio
l) Asset Turnover Ratio
6) Based on the ratios computed in 5) above, answer the following questions and use the financial statement ratios to support your answers where appropriate:
·
Do you feel that the company is able to meet its current a.
Example of ActiveDisclosure Linked Audit Committee Package
Did you know that AD can support dynamic linking of Excel tables between projects and Board Reports? If you have clients interested in this functionality, ActiveDisclosure's Document Solutions is available to demonstrate and assist.
Problem 12-9AYour answer is partially correct. Try again..docx
Problem 12-9A
Your answer is partially correct. Try again.
Condensed financial data of Odgers Inc. follow.
ODGERS INC.Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 131,704
$ 78,892
Accounts receivable
143,114
61,940
Inventory
183,375
167,646
Prepaid expenses
46,292
42,380
Long-term investments
224,940
177,670
Plant assets
464,550
395,275
Accumulated depreciation
(81,500
)
(84,760
)
Total
$1,112,475
$839,043
Liabilities and Stockholders’ Equity
Accounts payable
$ 166,260
$ 109,699
Accrued expenses payable
26,895
34,230
Bonds payable
179,300
237,980
Common stock
358,600
285,250
Retained earnings
381,420
171,884
Total
$1,112,475
$839,043
ODGERS INC.Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$633,190
Less:
Cost of goods sold
$220,800
Operating expenses, excluding depreciation
20,228
Depreciation expense
75,795
Income tax expense
44,466
Interest expense
7,710
Loss on disposal of plant assets
12,225
381,224
Net income
$ 251,966
Additional information:
1.
New plant assets costing $163,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $93,725 and accumulated depreciation of $79,055 were sold for $2,445 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $42,430 was declared and paid during the year.
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).)
ODGERS INC.Statement of Cash Flows
For the Year Ended December 31, 2014
$
Adjustments to reconcile net income to
$
$
Problem 12-10A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 151,904
$ 90,992
Accounts receivable
165,064
71,440
Inventory
211,500
193,358
Prepaid expenses
53,392
48,880
Long-term investments
259,440
204,920
Plant assets
535,800
455,900
Accumulated depreciation
(94,000
)
(97,760
)
Total
$1,283,100
$967,730
Liabilities and Stockholders’ Equity
Accounts payable
$ 191,760
$ 126,524
Accrued expenses payable
31,020
39,480
Bonds payable
206,800
274,480
Common stock
413,600
329,000
Retained earnings
439,920
198,246
Total
$1,283,100
$967,730
ODGERS INC.Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$730,305
Less:
Cost of goods sold
$254,665
Operating expenses, excluding depreciation
23,331
Depreciation expense
87,420
Income taxes
51,286
Interest expense
8,892
Loss on disposal of plant assets
14,100
439,694
Net income
$ 290,611
Additional information:
1.
New plant assets costing $188,000 were purchased for c.
(TCO A) Which one of the following is an advantage of corporatio.docx
(TCO A) Which one of the following is an advantage of corporations relative to partnerships and sole proprietorships? (Points : 5)
Reduced legal liability for investors
Harder to transfer ownership
Lower taxes
Most common form of organization
Question 2. 2. (TCO A) When a corporation distributes a dividend, _____. (Points : 5)
the most common form of distribution is a cash dividend
the Dividends account will be increased with a credit
the Retained Earnings account will be directly increased with a debit
the Dividends account will be decreased with a debit
Question 3. 3. (TCOs A, B) Below is a partial list of account balances for Cerner Company:
Cash $5,000
Prepaid insurance 500
Accounts receivable 2,500
Accounts payable 2,000
Notes payable 3,000
Common stock 1,000
Dividends 500
Revenues 15,000
Expenses 12,500
What did Cerner Company show as total credits? (Points : 5)
$21,500
$21,000
$20,500
$22,000
Question 4. 4. (TCOs B, E) Under the accrual basis of accounting, _____. (Points : 5)
cash must be received before revenue is recognized
net income is calculated by matching cash outflows against cash inflows
events that change a company's financial statements are recognized in the period they occur rather than in the period in which cash is paid or received
the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles
Question 5. 5. (TCO D) Three companies report the same cost of goods available for sale, but each employs a different inventory costing method. If the price of goods has increased during the period, then the company using _____. (Points : 5)
LIFO will have the highest ending inventory
FIFO will have the highest cost of goods sold
All three companies will have the same value for ending inventory.
average cost will have an ending inventory value that falls between FIFO and LIFO
Question 6. 6. (TCO A, E) Equipment was purchased for $17,000 on January 1, 2006. Freight charges amounted to $700 and there was a cost of $2,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $3,000 salvage value at the end of its 5-year useful life. What is the amount of accumulated depreciation at December 31, 2007, if the straight-line method of depreciation is used? (Points : 5)
$6,680
$3,340
$2,860
$5,720
Question 7. 7. (TCOs D, G) Lopez Corporation issues 500 ten-year, 8%, $1,000 bonds dated January 1, 2007, at 96. The journal entry to record the issuance will show a _____. (Points : 5)
debit to Cash of $500,000
credit to Discount on Bonds Payable for $20,000
...
Week 5 – Term 5 Homework60 PointsDue June 10, 20121.(6 poi.docx
Week 5 – Term 5 Homework
60 Points
Due June 10, 2012
1.(6 points)
At the beginning of 2010, Zuir Company's accounting department calculated the following estimates for the coming year's production:
Estimated overhead
$441,600
Direct labor hours
9,200 hr
During the year, Zuir Company experienced $440,000 in actual overhead costs and actually worked 9,100 direct labor hours. Zuir applies overhead to production using a predetermined overhead rate based on direct labor hours.
a. Calculate the predetermined overhead rate Zuir uses to apply overhead. (Show your computations.)
b. By what amount was overhead over- or underapplied for 2010? (Show your computations.)
c. Assuming the amount of over- or underapplied overhead is not significant, will the Cost of Goods Sold account be increased or decreased to correct the application of overhead?
2.(10 points)
Yamishi Production had the following inventories for the first quarter of 20xx:
Beginning
Ending
Materials
$606,600
$522,100
Work in process
312,100
280,800
Finished goods
416,100
540,200
Purchases of materials during the quarter were $427,800. Total direct labor costs were incurred in the amount of $1,482,000. Actual overhead costs were incurred as follows: operating supplies used, $17,100; janitorial and maintenance, $87,300; employee benefits, $26,400; utilities, $162,000; depreciation of factory, $43,200; property taxes, $24,000; factory insurance, $29,000. Net sales for the quarter were $3,562,200. Selling and administrative expenses were $508,000. Income taxes should be computed at 40 percent.
Prepare a statement of cost of goods manufactured for the first quarter of 20xx.
3.(6 points)
The following information has been made available to you. Assume that overhead is applied on the basis of direct labor hours.
Estimated overhead
$1,638,000
Estimated direct labor hours
390,000
Actual direct labor hours
442,000
Actual overhead
$1,862,000
a. Compute the predetermined overhead rate.
b. Compute the amount of applied overhead for the year.
c. Compute the amount of underapplied or overapplied overhead.
4.(6 points)
Job 29 consists of 300 units and has total manufacturing costs of direct materials, $4,500; direct labor, $7,500; and overhead, $3,600.
a. What is the unit product cost?
b. What are the prime costs per unit?
c. What are the conversion costs per unit?
5.(10 points)
Cancun Company uses a FIFO process costing system.
Cancun Company
Equivalent Production
November
Physical Units
Beginning inventory
2,350
Equivalent Units
Units started this period
10,120
Direct Materials
%
Conversion Costs
%
Units to be accounted for
12,470
Beginning inventory
2,350
Units started and completed
9,120
Ending inventory
1,000
Units accounted for
12,470
The following costs relate to work in process during November:
Beginning inventory
Direct materials
$7,200
Direct labor
380
Overhead
630
Current month's costs
Direct materials
$51,612
Direct labor
21,562.
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A learning organization is a dynamic business environment that encourages and fosters continuous learning in order to compete effectively in a highly competitive 21st century economy. What are the characteristics of a learning organization, and how do these characteristics help managers and employees work together to rise to the challenges they must confront in a rapidly changing business environment?
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Abraham Lincoln Vampire Hunter, The Babadook, Cabin Fever, and Dead Snow (A, B, C, D for short). The following table gives the preference schedule for the election.
Number of voters
10
7
5
5
4
1
st
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Tasks:
Using the Argosy University online library resources, prepare a 4- to 5-slide, APA-formatted Microsoft PowerPoint presentation that includes responses to Part 1 and Part 2.
Part 1
Use scholarly sources to compare any two of the following interviewing methodologies:
Structural interviews
Inferential interviews
Behavioral interviews
Cognitive interviews
Clearly define each methodology chosen and examine in what situations it may be appropriate.
Part 2
Explore the components of statement analysis—a complex skill that can help you determine the level of deception in a witness's or a suspect's statement. Identifying deception leads one to dig deeper, investigate further, and ask more, often difficult, direct questions.
Instructions
Consider the following example of a statement and its component:
Statement
Statement Component
"Decided to go for a walk. Got out there. Umm . . . stood for a few moments and received a page from home. Something was going on at home. Let's go back and make a phone call and see what's going on.
Parts of speech, specifically missing pronouns
Analyze the following statements and identify as many applicable components of statement analysis as you can attribute to the deception:
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Discuss the ethical considerations for your healthcare position.
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As an early childhood professional, identify strategies you can use to promote his skills and foster his ability to play with others.
Discuss how you can give him opportunities to be independent.
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What would this psychologist be looking for during voir dire and in investigations of the jury pool?
What, if any, different analysis techniques might a psychologist use when assisting the defense versus assisting the prosecution?
Why would the items being investigated be important to the defense or to the prosecution?
What specific area of forensics are you interested in, or what type of position are you interested in?
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As a security specialist, you must choose the best form of encryption to protect the spreadsheet. Your choices are:
BitLocker
BitLocker To Go
File encryption via Encrypting File System (EFS)
Folder encryption via EFS
Answer the following question(s):
Which form of encryption would ensure the spreadsheet is always stored on the disk in encrypted format? More than one form may be correct.
Need 2 Pages, APA Format,
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Write
a 700- to 1,050-word paper on child abuse reporting issues and resources.
Describe
what could result when the following occur:
Families or individuals will not agree to receiving help
The child is in further danger due to reporting an incident
Provide
an explanation to the following:
Other implications resulting from reporting abuse
What primary community resources could be used to help these individuals
Format
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Who has this health issue?
How do you get this health issue? (Key factors: genetic, lifestyle choices, environment)
How do you prevent this health issue? (Key methods: What are the top three ways?)
How do you treat this health issue? (Key methods: What are the two treatments?)
Now pick your 20 plants for your annotated bibliography (below)
Annotated literature review with 20 plants and 20 different sources in APA forma
A project with a diary or journal of your process.
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In each case, make sure to also explain the given philosopher’s views on the nature of man. Discuss it in detail!
Identify one (1) modern situation in the world where these issues are significant
•Chapter 23 (pp. 742-755); Rubens; Poussin; Moliere; royalty using the arts; review the Week 2 “Music Folder”
Explore:
The Arts and Royalty
•Rubens and Poussin at
http://www.visitmuseums.com/exhibition/from-baroque-to-classicism-rubens-poussin-and-17th-85
and
http://www.wga.hu/frames-e.html?/bio/p/poussin/biograph.html
Philosophers Debate Politics
•Chapter 24 (pp. 776-7; 803-805)
•Hobbes: text at
http://oregonstate.edu/instruct/phl302/texts/hobbes/leviathan-contents.html
summary at http://plato.stanford.edu/entries/hobbes-moral/; also
http://jim.com/hobbes.htm
•Locke: text at
http://www.thenagain.info/Classes/Sources/Locke-2ndTreatise.html
General background of the concept at
http://www.digitalhistory.uh.edu/teachers/lesson_plans/pdfs/unit1_12.pdf
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What is your perspective in the following
. You should back this up with
one
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·
Kantianism
·
Act Utilitarianism
·
Rule Utilitarianism
·
Social Contract
·
Virtue Ethics
It would be in the best interests of society if the government constructed a DNA database of every resident and made the database available to medical researchers and police agencies.
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Using the library, Internet, or any other available materials, discuss the process of a death notification.
Give a rationale for why the immediate family is notified before the media.
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A crisis presents the ultimate communication test for managers and leaders. Careful coordination is required to assess the situation, prioritize critical issues, collect relevant information, and create an effective communication plan. Above all, open, consistent, and candid communication is key.
1. Identify a company that has or is currently experiencing a crisis.
2. Evaluate the crisis situation, including its ethical implication.
3. Judge the effectiveness of the organization’s communication approach (reactive, proactive, candid, and/or utilizing the media to deliver clear messages to their audiences)?
4. What values and actions are being communicated?
5. Develop a recommendation for what the organization could have done differently to better manage the situation and their reputation.
Organizations to Consider (Please refrain from using Toyota due to our Week 9 discussion):
• British Petroleum
• Carnival Cruise Line
• General Motors
• The National Football League
Research Resources:
• WSJ – use the link on the left-hand side menu bar of your course
• Yahoo Finance
• CNBC
• MarketWatch
Integrative Case Grading Criteria:
Please Note: The total paper length is 3 - 5 pages.
1. Provide an overview of the organization’s crisis situation and the ethical implications. (15% weighting)
Consider the organization’s mission, vision, values, and culture.
2. How well did the organization communicate during the crisis? (35% weighting)
Did the organization authentically acknowledge and own their contribution to the situation?
Did the leaders demonstrate candor?
Did they effectively use the media to deliver key messages?
Did they share good and bad news?
Did they exhibit consistent and believable communication?
Did they involve employees and customers in the communication effort?
Were their actions aligned with mission and values?
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Consider crisis communication techniques, communication best practices, and ethical responsibilities.
4. Writing clarity, logic, mechanics, and formatting. (10% weighting)
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"a cruel, crazy, mad, hopeless panic possesed them... the heat was awful... the men were exausted-their mouths gasped, their lips cracked and blackened with the powder of the cartridges they had bitten off in the battle, their eyes staring in frenzy."
-Representative albert riddle, observing the first battle of the bull run
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a)terrified observers of the battle
b)couragous confederate soldiers
c)retreating union soldiers
d)civilians fleeing to Washington, D.C.
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A criminal justice professional gathers information through effectiv.docx
A criminal justice professional gathers information through effective interviews and interrogations. Ineffective victim or suspect interviews or interrogations can cost an investigator a case, and understanding the difference between an interview and an interrogation is critical in selecting an appropriate approach for a specific situation. Interviews and interrogations are dynamic, evolving situations, and developing interviewing and interrogation skills takes time and practice. Interrogation involves an accusatory, persuasive approach. Effective interviewers have the ability to quickly establish rapport with their subjects and gain complete, concise, and accurate information about crimes, additional witnesses, and suspects. Building rapport early helps take down barriers to open and clear communication, which is critical in conducting interviews and interrogations.
Submission Details:
By
Fri
day, January 16, 2015
, in a minimum of 250 words, post your answers to the following:
What are the qualities of an effective interviewer and interrogator?
What are the purposes of interviews and interrogations?
What is the difference between an interview and an interrogation?
What is D. K. Berlo's communication process? How does it apply in the criminal justice field?
What is a purposeful interview?
Discussion Grading Criteria and Rubric
All discussion assignments in this course will be graded using a rubric. This assignment is worth 40 points. The discussion rubric carefully read it to understand the expectations.
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A consumer advocacy group claims that the mean amount of juice in a 16 ounce bottled drink is not 16 ounces, as stated by the bottler. Determine the conclusion of the hypothesis test assuming that the results of the sampling lead to rejection of the null hypothesis.
A. Conclusion: Support the claim that the mean is equal to 16 ounces.
B. Conclusion: Support the claim that the mean is greater than 16 ounces.
C. Conclusion: Support the claim that the mean is not equal to 16 ounces.
D. Conclusion: Support the claim that the mean is less than 16 ounces.
Question 4 of 40
0.0/ 2.5 Points
A consumer group claims that the mean running time for a certain type of flashlight battery is not the same as the manufacturer’s claims. Determine the null and alternative hypotheses for the test described.
A.
H
0
: µ = Manufacturer’s claims H
a
: µ < Manufacturer’s claims
B.
H
0
: µ = Manufacturer’s claims H
a
: µ
¹
Manufacturer’s claims
C.
H
0
: µ = Manufacturer’s claims H
a
: µ > Manufacturer’s claims
D.
H
0
: µ
¹
Manufacturer’s claims H
a
: µ = Manufacturer’s claims
Question 5 of 40
0.0/ 2.5 Points
A researcher claims that the amounts of acetaminophen in a certain brand of cold tablets have a mean different from the 600 mg claimed by the manufacturer. Test this claim at the 0.02 level of significance. The mean acetaminophen content for a random sample of n = 41 tablets is 603.3 mg. Assume that the population standard deviation is 4.9 mg.
A. Since the test statistic is greater than the critical z, there is sufficient evidence to accept the null hypothesis and to support the claim that the mean content of acetaminophen is 600 mg.
B. Since the test statistic is greater than the critical z, there is sufficient evidence to reject the null hypothesis and to support the claim that the mean content of acetaminophen is not 600 mg.
C. Since the test statistic is less than the critical z, there is sufficient evidence to reject the null hypothesis and to support the claim that the mean content of acetaminophen is not 600 mg.
D. Since the test statistic is greater than the critical z, there is insufficient evidence to reject the null hypothesis and to support the claim that the mean content of acetaminophen is not 600 mg.
Question 6 of 40
0.0/ 2.5 Points
In 1990, the average duration of long-distance telephone calls originating in one town was 9.3 minutes. A long-distance telephone company wants to perform a hypothesis test to determine whether the average duration of long-distance phone calls has changed from the 1990 mean of 9.3 minutes. Formulate the null and alternative hypotheses for the study described.
A.
H
o
: µ = 9.3 minutes H
a
: µ < 9.3 minutes
B.
H
o
: µ = 9.3 minutes H
a
: µ > 9.3 minutes
C.
H
o
: µ = 9.3 minutes
H
a
: µ
¹
9.3 minutes
D.
H
o
: µ
¹
9.3 minutes H
a
: µ = 9.3 minutes
Question 7 of 40
2.5/ 2.5 Points
A skeptical paranormal researcher claims that the proportion of Americans that have.
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