Joshua & White Technologies' financial statements for 2009 and 2010 are provided. The assistant is asked to analyze various ratios and perform common size and percentage change analyses to evaluate changes in the company's liquidity, asset management, profitability, and financial position between the two years. Specifically, the assistant calculates ratios such as the current ratio, inventory turnover, return on assets, and performs DuPont, common size, and percentage change analyses on the income statement, balance sheet, key line items, and ratios.
Exercise 8-4The ledger of Wainwright Company at the end of the c.docxgitagrimston
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
...
Exercise 12-1Putnam Corporation had these transactions during 20.docxgitagrimston
Exercise 12-1
Putnam Corporation had these transactions during 2014.
Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities, financing activities, or noncash investing and financing activities.
(a)
Purchased a machine for $30,000, giving a long-term note in exchange.
(b)
Issued $50,000 par value common stock for cash.
(c)
Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
(d)
Declared and paid a cash dividend of $13,000.
(e)
Sold a long-term investment with a cost of $15,000 for $15,000 cash.
(f)
Collected $16,000 of accounts receivable.
(g)
Paid $18,000 on accounts payable.
IFRS 13-1
Ling Company reports the following information for the year ended December 31, 2014: sales revenue $1,000,000, cost of goods sold $700,000, operating expenses $200,000, and an unrealized gain on non-trading securities of $75,000. Prepare a statement of comprehensive income using the one-statement approach.
LING COMPANY
Statement of Comprehensive Income
For the Year Ended December 31, 2014
$
$
Problem 12-9A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 127,664
$ 76,472
Accounts receivable
138,724
60,040
Inventory
177,750
162,503
Prepaid expenses
44,872
41,080
Long-term investments
218,040
172,220
Plant assets
450,300
383,150
Accumulated depreciation
(79,000
)
(82,160
)
Total
$1,078,350
$813,305
Liabilities and Stockholders’ Equity
Accounts payable
$ 161,160
$ 106,334
Accrued expenses payable
26,070
33,180
Bonds payable
173,800
230,680
Common stock
347,600
276,500
Retained earnings
369,720
166,611
Total
$1,078,350
$813,305
ODGERS INC.Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$613,767
Less:
Cost of goods sold
$214,027
Operating expenses, excluding depreciation
19,608
Depreciation expense
73,470
Income tax expense
43,102
Interest expense
7,473
Loss on disposal of plant assets
11,850
369,530
Net income
$ 244,237
Additional information:
1.
New plant assets costing $158,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $90,850 and accumulated depreciation of $76,630 were sold for $2,370 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $41,128 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
$
...
A GUI design elements is a combination of technology and equipment.docxevonnehoggarth79783
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.
Exercise 1 Identify each of the following as (a) an underl.docxrhetttrevannion
Exercise 1
Identify each of the following as (a) an underlying concept, (b) an objective of financial statement analysis, (c) a standard for financial statement analysis, (d) a source of information for financial statement analysis, or an executive compensation issue:
Past Ratios of the company
Linking performance to shareholder value
Average ratios of other companies in the same industry
Assessment of the future potential of an investment
Timeliness
Interim financial statements
SEC Form 10-K
Assessment of rick
Comparability
A company’s annual report
Exercise 7
Elm Company had total assets of $640,000 in 2012. $680,000 in 2013, and $760.000 in 2014.
In 2013, Elm had net income of $77,112 on revenues of $1,224,000.
In 2014, it had net income of $98,952 on revenues of $1,596,000.
Compute the profit margin, asset turnover, and return on assets for 2013 and 2014.
Comment on the apparent cause of the increase or decrease in profitability.
(Round to one decimal place).
Exercise 12
Components of Van Corporation’s income statement for the year ended December 31, 2014 follow.
Recast the income statement in multiple step form, including allocating income taxes to appropriate items (assume a 30 percent income tax rate) and showing earnings per share figures (200,000 shares outstanding).
(Round earnings per share figures to the nearest cent.)
Sales
$1,110,000
Cost of goods sold
(550,000)
Operating expenses
(225,000)
Restructuring
(110,000)
Total income taxes expense for period
(179,000)
Income from discontinued operations
160,000
Gain on disposal of discontinued operations
140,000
Extraordinary gain
72,000
Net income
$417,900
Earnings per share
$
2.09
Problem 1
Obras Corporation’s condensed comparative income statements and comparative balance sheets for 2014 and 2013 follow.
Obras Corporation
Comparative Income Statements
For the Years Ended December 31, 2014 and 2013
2014
2013
Net sales
$3,276,800
$3,146,400
Cost of goods sold
2,088,800
2,008,400
Gross margin
$1,188,000
$1,138,000
Operating expenses:
Selling expenses
$476,800
$518,000
Administrative expenses
447,200
423,200
Total operating expenses
$924,000
$941,200
Income from operations
$264,000
$196,800
Interest expense
65,600
39,200
Interest before income taxes
$198,400
$157,600
Income taxes expense
62,400
56,800
Net income
$136,000
$100,800
Earnings per share
$
3.40
$
2.52
Obras Corporation
Comparative Balance Sheets
December 31, 2014 and 2013
2014
2013
Assets
Cash
$81,200
$40,800
Accounts receivable (net)
235,600
229,200
Inventory
574,800
594,800
Property, plants and equipment (net)
750,000
720,000
Total assets
$1,641,600
$1,584,800
Liabilities and Stockholders’ Equity
Accounts payable
$267,000
$477,200
Notes payable (short-term)
200,000
400,000
Bonds payable
400,000
---
Common stock, $10 par value
400,000
400,000
Retained earnings
374,000
307,600
Total liabilities and st.
Conversion worksheetGreen shaded cells are from Chapter 5 financia.docxdickonsondorris
Conversion worksheetGreen shaded cells are from Chapter 5 financial StatementsEnter all amounts as positive numbers. The worksheet is formatted to add debits to assets & expenses and add credits to revenues, liabilities & equityRefr. Account TitlesDebitsCreditsGov'tal Fund Balances Adjustments & EliminationsGovern-mental Funds AdjustedInternal Service FundsBalances for Gov't-wide StmtsDebitsCreditsDebitsCreditsACapital asset64,200,000DEBITS:Accumulated Depreciation28,700,000Cash657,720657,72035,000692,720Net Position35,500,000Cash with Fiscal Agent928,000928,000928,000Investments259,000259,000259,000BCapital asset5,823,100Taxes Receivable, net262,000262,000262,000Capital Outlay Expenditures5,823,100Interest Receivable, net16,85016,85016,850Inventories-37,54037,540CDepreciation Expense4,900,000Due from State Govt.559,000559,000559,000Accumulated Depreciation4,900,000Due from Other Funds-11,200(3,200)14,400Capital Assets64,200,00070,023,10078,40070,101,500DProceeds of bonds4,000,000 both rows5,823,100Other Financing sources- premium on bonds200,000--Bonds payable4,000,000Expenditures (expenses) Current-Premium on bonds200,000 General Govt.1,646,9001,646,900(1,240)1,648,140 Public Safety3,026,9003,026,9003,026,900ENet position12,000,000 Highway and Streets2,481,9002,481,9002,481,900Bonds payable12,000,000 Sanitation591,400591,400591,400 Health724,100724,100724,100FBonds payable800,000 Welfare374,300374,300374,300Bonds Principal800,000 Culture and Recreation917,300917,300917,300Compensated Absences Exp42,00042,00042,000GInterest Expense328,000Other Expenditures (expenses)--Accrued Interest Payable328,000 - Debt Service Principal800,000(800,000)1,600,0001,600,000 - Interest (expenditure/expense)514,000328,000(180,000)1,032,0001,032,000HNet position180,000 both rows(10,000)Interest Expense180,000 - Capital Outlay5,823,100(5,823,100)11,646,20011,646,200 - Depreciation4,900,0004,900,0004,900,000IBonds Payable10,000Other Fin. Uses - Transfers Out1,871,7001,871,700(1,871,700)3,743,400Interest Expense10,000-Total Debits21,454,170105,598,650JDeferred Revenues10,500CREDITS:Revenues- Property Taxes10,500Accounts Payable326,800326,800(19,400)307,400Due to Other Funds40,20040,2003,20037,000KRevenues- Property Taxes21,000Accrued Interest Payable(328,000)(328,000)(328,000)Net Position21,000Bonds Payalbe(12,000,000) both rows800,000(4,000,000)(16,800,000)(16,800,000)LCompensated Absenese Expense42,000Premium on Bonds10,000(200,000)(210,000)(210,000)Compensated Absences Payable42,000Compensated Absence Payable(42,000)(42,000)(42,000)Advance from Water Utility Fund-(15,000)(15,000)MCash35,000Deferred Inflows: Property Taxes10,50010,500-(15,000)Due from Other Funds11,200Accumulated Depreciation(28,700,000)Inventories37,540 both rows(4,900,000)(33,600,000)(33,600,000)Capital assets78,400Revenues-Accounts Payable19,400Property Taxes6,657,50021,000(10,500)6,626,0006,626,000Advance from Water Utility Fund15,000Sales .
1. (TCO A) Below you will find selected information (in millions) .docxhyacinthshackley2629
1. (TCO A) Below you will find selected information (in millions) from Coca-Cola Co.’s 2012 Annual Report.
Income Taxes Payable
$471
Short-term Investments and Marketable Securities
8,109
Cash
8,442
Other non-current Liabilities
10,449
Common Stock
1,760
Receivables
4,812
Other Current Assets
2,973
Long-term Investments
10,448
Other Non-current Assets
3,585
Property, Plant and Equipment
23,486
Trademarks
6,527
Other Intangible Assets
20,810
Allowance for Doubtful Accounts
53
Accumulated Depreciation
9,010
Accounts Payable
8,680
Short Term Notes Payable
17,874
Prepaid Expenses
2,781
Other Current Liabilities
796
Long-Term Liabilities
14,736
Paid-in-Capital in Excess of Par Value
11,379
Retained Earnings
55,038
Inventories
3,264
Treasury Stock
35,009
Other information taken from the Annual Report.
Sales Revenue for 2012
$48,017
Cost of Goods Sold for 2012
19,053
Net Income for 2012
9,019
Inventory Balance on 12/31/11
3,092
Net Accounts Receivable Balance on 12/31/11
4,920
Total Assets on 12/31/11
79,974
Equity Balance on 12/31/11
31,921
Required: 1: Using the information provided prepare a Balance Sheet. Separate the current assets from non-current assets and provide a total for each. Also, separate the current liabilities from the non-current liabilities and provide a total for each.
2: Using the Balance Sheet from your answer above, calculate the Current Ratio and Return on common stockholders’ equity. (Points : 36)
Question 2.2. (TCO B) The following selected data was retrieved from the Walmart, Inc. financial statements for the year ending January 31, 2013.
Accounts Payable
$38,080
Accounts Receivable
6,768
Cash
7,781
Common Stock
3,952
Cost of Goods Sold
352,488
Income Tax Expense
7,981
Interest Expense
2,064
Membership Revenues
3,048
Net Sales
466,114
Operating, Selling and Administrative Expenses
88,873
Retained Earnings
72,978
Required: 1: Using the information provided above, prepare a multiple-step income statement.
2: Calculate the Profit Margin, and Gross profit rate for the company. Be sure to provide the formula you are using, show your calculations, and discuss your findings and results.(Points : 36)
Question 3.3. 45. (TCO C) Please review the following real-world Hewlett Packard Statement of Cash flows and address the two questions below.
Cash flow from operating activities
In millions
In millions
For the year ended 2012
For the year ended 2011
Net (loss) earnings
$(12,650)
$7,074
Depreciation and amortization
5,095
4,984
Impairment of goodwill and purchased intangible assets
18,035
885
Stock-based compensation expense
635
685
Provision for doubtful accounts
142
81
Provision for inventory
277
217
Restructuring charges
2,266
645
Deferred taxes on earnings
(711)
166
Excess tax benefit from stock-based competition
(12)
(163)
Other, net
265
(46)
Accounts and financing receivables
1,269
(227)
Inventory
890
(1,252)
Accounts payable
(1,414)
275
Taxes on earnings
(320)
610
Restructuring
(840)
(1,002)
Other asse.
Exercise 8-4The ledger of Wainwright Company at the end of the c.docxgitagrimston
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
...
Exercise 12-1Putnam Corporation had these transactions during 20.docxgitagrimston
Exercise 12-1
Putnam Corporation had these transactions during 2014.
Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities, financing activities, or noncash investing and financing activities.
(a)
Purchased a machine for $30,000, giving a long-term note in exchange.
(b)
Issued $50,000 par value common stock for cash.
(c)
Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
(d)
Declared and paid a cash dividend of $13,000.
(e)
Sold a long-term investment with a cost of $15,000 for $15,000 cash.
(f)
Collected $16,000 of accounts receivable.
(g)
Paid $18,000 on accounts payable.
IFRS 13-1
Ling Company reports the following information for the year ended December 31, 2014: sales revenue $1,000,000, cost of goods sold $700,000, operating expenses $200,000, and an unrealized gain on non-trading securities of $75,000. Prepare a statement of comprehensive income using the one-statement approach.
LING COMPANY
Statement of Comprehensive Income
For the Year Ended December 31, 2014
$
$
Problem 12-9A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 127,664
$ 76,472
Accounts receivable
138,724
60,040
Inventory
177,750
162,503
Prepaid expenses
44,872
41,080
Long-term investments
218,040
172,220
Plant assets
450,300
383,150
Accumulated depreciation
(79,000
)
(82,160
)
Total
$1,078,350
$813,305
Liabilities and Stockholders’ Equity
Accounts payable
$ 161,160
$ 106,334
Accrued expenses payable
26,070
33,180
Bonds payable
173,800
230,680
Common stock
347,600
276,500
Retained earnings
369,720
166,611
Total
$1,078,350
$813,305
ODGERS INC.Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$613,767
Less:
Cost of goods sold
$214,027
Operating expenses, excluding depreciation
19,608
Depreciation expense
73,470
Income tax expense
43,102
Interest expense
7,473
Loss on disposal of plant assets
11,850
369,530
Net income
$ 244,237
Additional information:
1.
New plant assets costing $158,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $90,850 and accumulated depreciation of $76,630 were sold for $2,370 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $41,128 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
$
...
A GUI design elements is a combination of technology and equipment.docxevonnehoggarth79783
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.
Exercise 1 Identify each of the following as (a) an underl.docxrhetttrevannion
Exercise 1
Identify each of the following as (a) an underlying concept, (b) an objective of financial statement analysis, (c) a standard for financial statement analysis, (d) a source of information for financial statement analysis, or an executive compensation issue:
Past Ratios of the company
Linking performance to shareholder value
Average ratios of other companies in the same industry
Assessment of the future potential of an investment
Timeliness
Interim financial statements
SEC Form 10-K
Assessment of rick
Comparability
A company’s annual report
Exercise 7
Elm Company had total assets of $640,000 in 2012. $680,000 in 2013, and $760.000 in 2014.
In 2013, Elm had net income of $77,112 on revenues of $1,224,000.
In 2014, it had net income of $98,952 on revenues of $1,596,000.
Compute the profit margin, asset turnover, and return on assets for 2013 and 2014.
Comment on the apparent cause of the increase or decrease in profitability.
(Round to one decimal place).
Exercise 12
Components of Van Corporation’s income statement for the year ended December 31, 2014 follow.
Recast the income statement in multiple step form, including allocating income taxes to appropriate items (assume a 30 percent income tax rate) and showing earnings per share figures (200,000 shares outstanding).
(Round earnings per share figures to the nearest cent.)
Sales
$1,110,000
Cost of goods sold
(550,000)
Operating expenses
(225,000)
Restructuring
(110,000)
Total income taxes expense for period
(179,000)
Income from discontinued operations
160,000
Gain on disposal of discontinued operations
140,000
Extraordinary gain
72,000
Net income
$417,900
Earnings per share
$
2.09
Problem 1
Obras Corporation’s condensed comparative income statements and comparative balance sheets for 2014 and 2013 follow.
Obras Corporation
Comparative Income Statements
For the Years Ended December 31, 2014 and 2013
2014
2013
Net sales
$3,276,800
$3,146,400
Cost of goods sold
2,088,800
2,008,400
Gross margin
$1,188,000
$1,138,000
Operating expenses:
Selling expenses
$476,800
$518,000
Administrative expenses
447,200
423,200
Total operating expenses
$924,000
$941,200
Income from operations
$264,000
$196,800
Interest expense
65,600
39,200
Interest before income taxes
$198,400
$157,600
Income taxes expense
62,400
56,800
Net income
$136,000
$100,800
Earnings per share
$
3.40
$
2.52
Obras Corporation
Comparative Balance Sheets
December 31, 2014 and 2013
2014
2013
Assets
Cash
$81,200
$40,800
Accounts receivable (net)
235,600
229,200
Inventory
574,800
594,800
Property, plants and equipment (net)
750,000
720,000
Total assets
$1,641,600
$1,584,800
Liabilities and Stockholders’ Equity
Accounts payable
$267,000
$477,200
Notes payable (short-term)
200,000
400,000
Bonds payable
400,000
---
Common stock, $10 par value
400,000
400,000
Retained earnings
374,000
307,600
Total liabilities and st.
Conversion worksheetGreen shaded cells are from Chapter 5 financia.docxdickonsondorris
Conversion worksheetGreen shaded cells are from Chapter 5 financial StatementsEnter all amounts as positive numbers. The worksheet is formatted to add debits to assets & expenses and add credits to revenues, liabilities & equityRefr. Account TitlesDebitsCreditsGov'tal Fund Balances Adjustments & EliminationsGovern-mental Funds AdjustedInternal Service FundsBalances for Gov't-wide StmtsDebitsCreditsDebitsCreditsACapital asset64,200,000DEBITS:Accumulated Depreciation28,700,000Cash657,720657,72035,000692,720Net Position35,500,000Cash with Fiscal Agent928,000928,000928,000Investments259,000259,000259,000BCapital asset5,823,100Taxes Receivable, net262,000262,000262,000Capital Outlay Expenditures5,823,100Interest Receivable, net16,85016,85016,850Inventories-37,54037,540CDepreciation Expense4,900,000Due from State Govt.559,000559,000559,000Accumulated Depreciation4,900,000Due from Other Funds-11,200(3,200)14,400Capital Assets64,200,00070,023,10078,40070,101,500DProceeds of bonds4,000,000 both rows5,823,100Other Financing sources- premium on bonds200,000--Bonds payable4,000,000Expenditures (expenses) Current-Premium on bonds200,000 General Govt.1,646,9001,646,900(1,240)1,648,140 Public Safety3,026,9003,026,9003,026,900ENet position12,000,000 Highway and Streets2,481,9002,481,9002,481,900Bonds payable12,000,000 Sanitation591,400591,400591,400 Health724,100724,100724,100FBonds payable800,000 Welfare374,300374,300374,300Bonds Principal800,000 Culture and Recreation917,300917,300917,300Compensated Absences Exp42,00042,00042,000GInterest Expense328,000Other Expenditures (expenses)--Accrued Interest Payable328,000 - Debt Service Principal800,000(800,000)1,600,0001,600,000 - Interest (expenditure/expense)514,000328,000(180,000)1,032,0001,032,000HNet position180,000 both rows(10,000)Interest Expense180,000 - Capital Outlay5,823,100(5,823,100)11,646,20011,646,200 - Depreciation4,900,0004,900,0004,900,000IBonds Payable10,000Other Fin. Uses - Transfers Out1,871,7001,871,700(1,871,700)3,743,400Interest Expense10,000-Total Debits21,454,170105,598,650JDeferred Revenues10,500CREDITS:Revenues- Property Taxes10,500Accounts Payable326,800326,800(19,400)307,400Due to Other Funds40,20040,2003,20037,000KRevenues- Property Taxes21,000Accrued Interest Payable(328,000)(328,000)(328,000)Net Position21,000Bonds Payalbe(12,000,000) both rows800,000(4,000,000)(16,800,000)(16,800,000)LCompensated Absenese Expense42,000Premium on Bonds10,000(200,000)(210,000)(210,000)Compensated Absences Payable42,000Compensated Absence Payable(42,000)(42,000)(42,000)Advance from Water Utility Fund-(15,000)(15,000)MCash35,000Deferred Inflows: Property Taxes10,50010,500-(15,000)Due from Other Funds11,200Accumulated Depreciation(28,700,000)Inventories37,540 both rows(4,900,000)(33,600,000)(33,600,000)Capital assets78,400Revenues-Accounts Payable19,400Property Taxes6,657,50021,000(10,500)6,626,0006,626,000Advance from Water Utility Fund15,000Sales .
1. (TCO A) Below you will find selected information (in millions) .docxhyacinthshackley2629
1. (TCO A) Below you will find selected information (in millions) from Coca-Cola Co.’s 2012 Annual Report.
Income Taxes Payable
$471
Short-term Investments and Marketable Securities
8,109
Cash
8,442
Other non-current Liabilities
10,449
Common Stock
1,760
Receivables
4,812
Other Current Assets
2,973
Long-term Investments
10,448
Other Non-current Assets
3,585
Property, Plant and Equipment
23,486
Trademarks
6,527
Other Intangible Assets
20,810
Allowance for Doubtful Accounts
53
Accumulated Depreciation
9,010
Accounts Payable
8,680
Short Term Notes Payable
17,874
Prepaid Expenses
2,781
Other Current Liabilities
796
Long-Term Liabilities
14,736
Paid-in-Capital in Excess of Par Value
11,379
Retained Earnings
55,038
Inventories
3,264
Treasury Stock
35,009
Other information taken from the Annual Report.
Sales Revenue for 2012
$48,017
Cost of Goods Sold for 2012
19,053
Net Income for 2012
9,019
Inventory Balance on 12/31/11
3,092
Net Accounts Receivable Balance on 12/31/11
4,920
Total Assets on 12/31/11
79,974
Equity Balance on 12/31/11
31,921
Required: 1: Using the information provided prepare a Balance Sheet. Separate the current assets from non-current assets and provide a total for each. Also, separate the current liabilities from the non-current liabilities and provide a total for each.
2: Using the Balance Sheet from your answer above, calculate the Current Ratio and Return on common stockholders’ equity. (Points : 36)
Question 2.2. (TCO B) The following selected data was retrieved from the Walmart, Inc. financial statements for the year ending January 31, 2013.
Accounts Payable
$38,080
Accounts Receivable
6,768
Cash
7,781
Common Stock
3,952
Cost of Goods Sold
352,488
Income Tax Expense
7,981
Interest Expense
2,064
Membership Revenues
3,048
Net Sales
466,114
Operating, Selling and Administrative Expenses
88,873
Retained Earnings
72,978
Required: 1: Using the information provided above, prepare a multiple-step income statement.
2: Calculate the Profit Margin, and Gross profit rate for the company. Be sure to provide the formula you are using, show your calculations, and discuss your findings and results.(Points : 36)
Question 3.3. 45. (TCO C) Please review the following real-world Hewlett Packard Statement of Cash flows and address the two questions below.
Cash flow from operating activities
In millions
In millions
For the year ended 2012
For the year ended 2011
Net (loss) earnings
$(12,650)
$7,074
Depreciation and amortization
5,095
4,984
Impairment of goodwill and purchased intangible assets
18,035
885
Stock-based compensation expense
635
685
Provision for doubtful accounts
142
81
Provision for inventory
277
217
Restructuring charges
2,266
645
Deferred taxes on earnings
(711)
166
Excess tax benefit from stock-based competition
(12)
(163)
Other, net
265
(46)
Accounts and financing receivables
1,269
(227)
Inventory
890
(1,252)
Accounts payable
(1,414)
275
Taxes on earnings
(320)
610
Restructuring
(840)
(1,002)
Other asse.
Answer each of the questions in the following unrelated situations..docxmelvinjrobinson2199
Answer each of the questions in the following unrelated situations.
(a)
The current ratio of a company is 6:1 and its acid-test ratio is 1:1. If the inventories and prepaid items amount to $494,800, what is the amount of current liabilities?
Current Liabilities
$
[removed]
(b)
A company had an average inventory last year of $159,000 and its inventory turnover was 6. If sales volume and unit cost remain the same this year as last and inventory turnover is 8 this year, what will average inventory have to be during the current year?
(Round answer to 0 decimal places, e.g. 125.)
Average Inventory
$
[removed]
(c)
A company has current assets of $89,370 (of which $36,250 is inventory and prepaid items) and current liabilities of $36,250. What is the current ratio? What is the acid-test ratio? If the company borrows $10,270 cash from a bank on a 120-day loan, what will its current ratio be? What will the acid-test ratio be?
(Round answers to 2 decimal places, e.g. 2.50.)
Current Ratio
[removed]
:1
Acid Test Ratio
[removed]
:1
New Current Ratio
[removed]
:1
New Acid Test Ratio
[removed]
:1
(d)
A company has current assets of $583,200 and current liabilities of $235,100. The board of directors declares a cash dividend of $173,600. What is the current ratio after the declaration but before payment? What is the current ratio after the payment of the dividend?
(Round answers to 2 decimal places, e.g. 2.50.)
Current ratio after the declaration but before payment
[removed]
:1
Current ratio after the payment of the dividend
[removed]
:1
Heartland Company’s budgeted sales and budgeted cost of goods sold for the coming year are $142,310,000 and $97,650,000, respectively. Short-term interest rates are expected to average 10%. If Heartland can increase inventory turnover from its present level of 9 times a year to a level of 12 times per year.
Compute its expected cost savings for the coming year.
Expected Cost Savings
$
[removed]
The following information pertains to Wamser Company:
Cash
$22,000
Accounts receivable
125,500
Inventory
74,500
Plant assets (net)
384,000
Total assets
$606,000
Accounts payable
$74,500
Accrued taxes and expenses payable
24,500
Long-term debt
49,500
Common stock ($10 par)
165,000
Paid-in capital in excess of par
89,000
Retained earnings
203,500
Total equities
$606,000
Net sales (all on credit)
$801,000
Cost of goods sold
605,000
Net income
80,500
Compute the following:
(Round answers to 2 decimal places e.g. 15.25.)
(a)
Current ratio
[removed]
: 1
(b)
Inventory turnover
[removed]
times
(c)
Accounts receivable turnover
[removed]
times
(d)
Book value per share
$
[removed]
(e)
Earnings per share
$
[removed]
(f)
Debt to assets
[removed]
%
(g)
Profit margin on sales
[removed]
%
(h)
Return on common stock equity
[removed]
%
Your answer is incorrect. Try again.
The following data is given:
December 31,
2015
2014
Cash
$65,500
$51,000
Accounts .
Due Tues., May 2- 7 questions Big Time Picture Frames h.docxsagarlesley
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
...
1nilB CHAPfER 12HOI\4EWORK
@l
CHAPTER T2 HOMEWORK
B.
Prablem 12-lA Statenent of cash flows (indirect method) L.O. 41 . Pl. P2, P3
Kazaam Company, a marchandiser, recenty comdeled its calendar-year2011 operations. For the year, (1)
all sales are credit sales, (2) all credits to Accounts Receisbla roftect cash receipts f,om custonrers, (3) all
prrchases of in\entory ara on cr€dit, (4) all debits to AccorJnts Payable relect cash payments for in/entory,
and (5) Other Expensas are paid in adwrne and are initially dabitad to Pnpaid Exponser. The company's
balance sheets ard income stat€ment blb\,-
KAZAAM COMPAI,IY
Comparatir,e B alarrco Sheets
December 31, 2011 and 2010
2011 2010
$ 49,800 S 73,500
65,880 57,000
277,AOO 251,000
1,250 1,800
158,500 106,500
(35,875) (46,000)
s 516,555 $443,800
$ 82,80s S 115,000
11,000 7,000
60,000 48,750
157,500 149,000
25,500 0
179,750 124,050
$ 516,555 $443,800
KAZAAM COMPANY
hcome Statem€nt
For Year Ended D€comber 31, 201 1
As3els
Cash
Accounts recei\EHe
Marchandise insntory
Prepaid expenses
Equipment
Accurn- depreciatN quipi"n€nt
Total asssls
LiabilitieBend Equity
Accounts payabb
Short-term notes payable
Lorp-term notes payable
C,ommon stock, $5 par raalue
Paid-in capital in excess ofpar, cornmon stock
R€tain€d eamings
Total liabilities and Gquity
Sales
Cost of goods sold
Gross profit
Operating exp€nses
Depreciatbn exp€nse
Other expnses
Other gains (losses)
Loss on sale of€quipmant
tr|come bebfe taxes
tlcome taxes expanse
Itlet incorns
s 583,000
286,000
297,000
$ 20,000
134,000 154,0m
137,500
25,500
5,500
$ 1 12,000
l- _ __._, , -----,.__.- * - ,__., .-._-::::-:a
Addllional hformafon on Yegr 2A11 Tnnsctions
a. The loss on the cash sal€ of equiprylent was $5,50O (details in b).
b, Sold equiprnent costing $47,250, with accumulated depreciation of$30,125, for 911,625 cash.
c. Purchasod equipment costing $99,250 by paying $25,[email protected] cash and signing a long.term note payable br
the balance-
d. Borroued $4,000 cash by silnirE a short-t€rm note payabl€.
e. Paid $63,@0 cesh to reducethe longiterm notes payabks.
f. lssued 1,700 shar6 of cornmon stock br $20 cash per share.
g. Daclarcd and paid cash dillderfrs of $ffi,300.
Required:
1. Prcpare a compl€te statefitsnt of cash florvs; repon [s op€rating actirities using the indirect meth(/,.
(Amounb to be deducted should be indicated with a minus sign. Omit the "3" sign in your
response.)
KAZAAM COMPANY
Statement of Cash Flom
1t2
1nu13 CHAPTER 12HOMEWCIRK
For Year Ended December 31, 201 1
fana- frs
Cash forvs fiom operating actirities
itbtincdns, '...,.., .,.. i .,, , 1v
Adiustments to reconcile net income to net
rua
"on llGE-l]]]lil incstins activties
Cash f,orls ftom fnancino actirities
Cashbaid dl nde: .lw
Ca*h'fioriorivedottshrt4eifi rde : r ..'ly
C'6h frorni63drEstsf. , .l'
Cash paid br d$d€rds
tl.t
""sn
li's-JElllTll l fnancins actirities
Cash balance at beginning of2011
Cash balance at end of 201 1
$: _J.
Chapter 2Problems Set BP2-1B Suppose the following items are .docxwalterl4
Chapter 2
Problems: Set B
P2-1B Suppose the following items are taken from the 2014 balance sheet of Starbucks Corporation. (All dollars are in millions.)
Goodwill
$ 477
Common stock
40
Equipment
3,036
Accounts payable
391
Stock investments (long-term)
280
Accounts receivable
288
Prepaid rent
278
Debt investments (current)
157
Retained earnings
2,244
Cash
281
Notes payable (noncurrent)
550
Notes payable (current)
1,468
Unearned sales revenue (current)
297
Bonds payable
354
Inventory
692
Accumulated depreciation—equipment
145
Instructions
Prepare a classified balance sheet for Starbucks Corporation as of September 30, 2014.
P2-2B These items are taken from the financial statements of Mueller, Inc.
Prepaid insurance
$ 2,400
Equipment
30,000
Salaries and wages expense
34,000
Utilities expense
2,100
Accumulated depreciation—equipment
7,600
Accounts payable
7,200
Cash
6,100
Accounts receivable
2,900
Salaries and wages payable
3,000
Common stock
6,000
Depreciation expense
4,300
Retained earnings (beginning)
14,000
Dividends
2,600
Service revenue
51,000
Maintenance and repairs expense
2,600
Insurance expense
1,800
Instructions
Prepare an income statement, a retained earnings statement, and a classified balance sheet as of December 31, 2014.
P2-3B You are provided with the following information for Vern Corporation, effective as of its April 30, 2014, year-end.
Accounts payable
$ 3,100
Accounts receivable
10,150
Accumulated depreciation—equipment
6,600
Depreciation expense
3,200
Cash
20,955
Common stock
20,000
Dividends
2,800
Equipment
24,250
Sales revenue
20,450
Income tax expense
700
Income taxes payable
300
Interest expense
350
Interest payable
175
Notes payable (due in 2018)
4,700
Prepaid rent
380
Rent expense
660
Retained earnings, beginning
13,960
Salaries and wages expense
5,840
Instructions
(a)
Prepare an income statement and a retained earnings statement for Vern Corporation for the year ended April 30, 2014.
(b)
Prepare a classified balance sheet for Vern as of April 30, 2014.
P2-4B Comparative statement data for Omaz Company and Wise Company, two competitors, are presented below. All balance sheet data are as of December 31, 2014.
Omaz Company
Wise Company
2014
2014
Net sales
$450,000
$900,000
Cost of goods sold
225,000
450,000
Operating expenses
130,000
150,000
Interest expense
6,000
10,000
Income tax expense
15,000
75,000
Current assets
180,000
700,000
Plant assets (net)
600,000
800,000
Current liabilities
75,000
230,000
Long-term liabilities
190,000
200,000
Net cash provided by operating activities
46,000
180,000
Capital expenditures
20,000
50,000
Dividends paid
-0-
5,000
Average number of shares outstanding
200,000
500,000
Instructions
(a)
Compute the net income and earnings per share for each company for 2014.
(b)
Comment on the relative liquidity of the companies by computing working capital and the current ratio for each company for 2014.
(c)
Comment on the relative solvency of the.
Exercises1. Horizontal analysis. Mary Lynn Corporation has been .docxSANSKAR20
Exercises
1. Horizontal analysis. Mary Lynn Corporation has been operating for several years. Selected data from the 20X1 and 20X2 financial statements follow.
20X2
20X1
Current Assets
$ 76,000
$ 80,000
Property, Plant, and Equipment (net)
99,000
90,000
Intangibles
25,000
50,000
Current Liabilities
40,800
48,000
Long-Term Liabilities
143,000
160,000
Stockholders' Equity
16,200
12,000
Net Sales
500,000
500,000
Cost of Goods Sold
332,500
350,000
Operating Expenses
93,500
85,000
2. Prepare a horizontal analysis for 20X1 and 20X2. Briefly comment on the results of your work.
3. Vertical analysis. Study the data pertaining to Mary Lynn Corporation that appear in Exercise 1. Prepare a vertical analysis for 20X1 and 20X2 and briefly evaluate the results of your work.
4. Liquidity ratios. Edison, Stagg, and Thornton have the following financial information at the close of business on July 10:
Edison
Stagg
Thornton
Cash
$4,000
$2,500
$1,000
Short-Term Investments
3,000
2,500
2,000
Accounts Receivable
2,000
2,500
3,000
Inventory
1,000
2,500
4,000
Prepaid Expenses
800
800
800
Accounts Payable
200
200
200
Notes Payable: Short-Term
3,100
3,100
3,100
Accrued Payables
300
300
300
Long-Term Liabilities
3,800
3,800
3,800
a. Compute the current and quick ratios for each of the three companies. (Round calculations to two decimal places.) Which firm is the most liquid? Why?
b. Suppose Thornton is using FIFO for inventory valuation and Edison is using LIFO. Comment on the comparability of information between these two companies.
c. If all short-term notes payable are due on July 11 at 8 a.m., comment on each company's ability to settle its obligation in a timely manner.
5. Computation and evaluation of activity ratios. The following data relate to Alaska Products Inc.:
20X5
20X4
Net Credit Sales
$832,000
$760,000
Cost of Goods Sold
440,000
350,000
Cash, Dec. 31
125,000
110,000
Accounts Receivable, Dec. 31
180,000
140,000
Inventory, Dec. 31
70,000
50,000
Accounts Payable, Dec. 31
115,000
108,000
6. The company is planning to borrow $300,000 via a 90-day bank loan to cover short-term operating needs.
a. Compute the accounts-receivable and inventory-turnover ratios for 20X5. Alaska rounds all calculations to two decimal places.
b. Study the ratios from part (a) and comment on the company's ability to repay a bank loan in 90 days.
c. Suppose that Alaska's major line of business involves the processing and distribution of fresh and frozen fish throughout the United States. Do you have any concerns about the company's inventory-turnover ratio? Briefly discuss.
7. Profitability ratios, trading on the equity. Digital Relay has both preferred and common stock outstanding. The company reported the following information for 20X7:
Net sales
$1,500,000
Interest Expense
120,000
Income Tax Expense
80,000
Preferred Dividends
25,000
Net Income
130,000
Average Assets
1,100,000
Average Common Stockholders' Equity
400,000
a. Compute the net-profit-margin ratio and the rates of re ...
Problem 12-9AYour answer is partially correct. Try again..docxChantellPantoja184
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.
Student ID 21458913 Exam 061684RR - The Impact of Manage.docxemelyvalg9
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.
Exam 061684RR - THE IMPACT OF MANAGEMENT Questions 1 to 20 S.docxgitagrimston
Exam: 061684RR - THE IMPACT OF MANAGEMENT
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. Brittman Corporation makes three products that use the current constraint-a particular type of machine. Data concerning those products appear below:
IP
NI
YD
Selling price per unit
$183.57
$207.74
$348.15
Variable cost per unit
$144.42
$155.04
$269.50
Minutes on the constraint
2.90
3.40
5.50
Assume that sufficient constraint time is available to satisfy demand for all but the least profitable product. Up to how much should the company be willing to pay to acquire more of the constrained resource?
A. $39.15 per unit
B. $15.50 per minute
C. $78.65 per unit
D. $13.50 per minute
2. A project profitability index greater than zero for a project indicates that
A. there has been a calculation error.
B. the project is unattractive and shouldn't be pursued.
C. the company should reevaluate its discount rate.
D. the discount rate is less than the internal rate of return.
3. A company's current ratio and acid-test ratios are both greater than 1. If obsolete inventory is written off, this would
A. decrease the current ratio.
B. increase net working capital.
C. decrease the acid-test ratio.
D. increase the acid-test ratio.
Use the following information to answer this question.
Financial statements for Larkins Company appear below:
Larkins Company
Statement of Financial Position
December 31, Year 2 and Year 1
(dollars in thousands)
Year 2 Year 1
Current assets:
Cash and marketable securities $180 $180
Accounts receivable, net 210 180
Inventory 130 120
Prepaid expenses 5050
Total current assets 570 530
Noncurrent assets:
Plant & equipment, net 1,540 1,480
Total assets $2,110 $2,010
Current liabilities:
Accounts payable $100 $130
Accrued liabilities 60 60
Notes payable, short term 90120
Total current liabilities 250 310
Noncurrent liabilities:
Bonds payable 480500
Total liabilities 730810
Stockholders' equity:
Preferred stock, $20 par, 10% 120 120
Common stock, $10 par 180 180
Additional paid-in capital--common stock 240 240
Retained earnings 840660
Total stockholders' equity 1,3801,200
Total liabilities & stockholders' equity $2,110 $2,010
Larkins Company
Income Statement
For the Year Ended December 31, Year 2
(dollars in thousands)
Sales (all on account) $2,760
Cost of goods sold 1,930
Gross margin 830
Selling and administrative expense 330
Net operating income 500
Interest expense 50
Net income before taxes 450
Income taxes (30%)
135
$315
Net income
Dividends during Year 2 totaled $135 thousand, of which $12 thousand were preferred dividends. The market price of a share of common stock on December 31, Year 2 was $150.
4. Larkins Company's dividend payout ...
Mini Case112018Chapter 2 Mini CaseSituationJenny Cochran, a grad.docxpauline234567
Mini Case11/20/18Chapter 2 Mini CaseSituationJenny Cochran, a graduate of The University of Tennessee with 4 years of experience as an equities analyst, was recently brought in as assistant to the chairman of the board of Computron Industries, a manufacturer of computer components.
During the previous year, Computron had doubled its plant capacity, opened new sales offices outside its home territory, and launched an expensive advertising campaign. Cochran was assigned to evaluate the impact of the changes. She began by gathering financial statements and other data.Computron's Balance Sheets (Millions of Dollars)20182019AssetsCash and equivalents$ 60$ 50Short-term investments10010Accounts receivable400520Inventories620820Total current assets$ 1,180$ 1,400Gross fixed assets$ 3,900$ 4,820Less: Accumulated depreciation1,0001,320Net fixed assets$ 2,900$ 3,500Total assets$ 4,080$ 4,900Liabilities and equityAccounts payable$ 300$ 400Notes payable50250Accruals200240Total current liabilities$ 550$ 890Long-term bonds8001,100Total liabilities$ 1,350$ 1,990Common stock1,0001,000Retained earnings1,7301,910Total equity$ 2,730$ 2,910Total liabilities and equity$ 4,080$ 4,900Computron's Income Statement (Millions of Dollars)20182019Net sales$ 5,500$ 6,000Cost of goods sold (Excluding depr. & amort.)4,3004,800Depreciation and amortizationa290320Other operating expenses350420Total operating costs$ 4,940$ 5,540Earnings before interest and taxes (EBIT)$ 560$ 460Less interest 68108Pre-tax earnings$ 492$ 352Taxes (25%)12388Net Income $ 369$ 264Notes:a Computron has no amortization charges.Other Data20182019Stock price$50.00$30.00Shares outstanding (millions)100100Common dividends (millions)$90$84Tax rate25%25%Weighted average cost of capital (WACC)10.00%10.00%Computron's Statement of Cash Flows (Millions of Dollars)
Bart Kreps: The statement of cash flows provides information about cash inflows and outflows during an accounting period.
2019Operating Activities Net Income before preferred dividends$ 264Noncash adjustments Depreciation and amortization320Due to changes in working capital Change in accounts receivable(120) Change in inventories(200) Change in accounts payable100 Change in accruals40Net cash provided by operating activities$ 404Investing activities Cash used to acquire fixed assets$ (920)
Bart Kreps: Make sure to add back annual Depreciation to Net PP&E.
Bart Kreps: The statement of cash flows provides information about cash inflows and outflows during an accounting period.
Change in short-term investments90Net cash provided by investing activities$ (830)Financing Activities Change in notes payable$ 200 Change in long-term debt300 Payment of cash dividends(84)Net cash provided by financing activities$ 416Net change in cash.
One of the recent developments facing the public administration of.docxarnit1
One of the recent developments facing the public administration of corrections is that there has been an increasing call by public officials and the citizenry to privatize the prison systems in the United States. Discuss the following in regard to this:
First, from the perspective of a public-sector correctional administrator, make 2 arguments for keeping the jails in public hands.
Second, from the perspective of a private-sector correctional facility manager make 2 arguments for turning the correctional system over to the private correctional industry.
Briefly discuss the types of challenges that each sector—both public and private—may face.
Are there any legal issues, either criminal or civil, that need to be addressed before privatization can occur?
Support your viewpoints from your readings and other appropriate outside sources, in APA format.
Please submit your...
(More)
Reading Assignment:
Peak, Chapters 9, 10, 11
.
One paragraph for each question 1.Discuss the work of Chuck C.docxarnit1
One paragraph for each question:
1.
Discuss the work of Chuck Close as we saw in the film in class. How does he work: show how he takes an image and changes it by the way he interprets it. Philip Glass states in the film: “It is the old idea of form and content, and what our generation did was include process”: apply this idea to Chuck’s work.
Look at EACH of the artists below on the Art 21 website.
Answer the following questions for each artist:
·
How does this artist work? Intuitively or intellectually?
·
How important is process to this artist?
·
What do you think this artist is trying to communicate?
·
Where do they get the ideas for their art ?
Barry McGee and Margaret Kilgallen
James Turrell Gabriel Orzoco
Shahzia Sikander Maya Lin
Ann Hamilton Do Ho Suh
Sally Mann
2.
In your text, pages 104-112, there is a discussion about the different roles of artists across cultures and time. What role do you think artists have in contemporary culture in the United States? What role do you think they should have? How important are the ideas and thoughts of artists to the development, maintenance, and structure of culture? Cite examples from your text about the different roles artists could play in modern culture.
3.
What is creativity (to you)? Find two examples of art you think is really “creative” describe why you think these works are “creative”. Explain why you think they are creative works. Do you exercise creativity? If not, why not? If so, how do you exhibit creative ideas and tendencies? Explain why you think creativity is important to culture.
.
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Answer each of the questions in the following unrelated situations..docxmelvinjrobinson2199
Answer each of the questions in the following unrelated situations.
(a)
The current ratio of a company is 6:1 and its acid-test ratio is 1:1. If the inventories and prepaid items amount to $494,800, what is the amount of current liabilities?
Current Liabilities
$
[removed]
(b)
A company had an average inventory last year of $159,000 and its inventory turnover was 6. If sales volume and unit cost remain the same this year as last and inventory turnover is 8 this year, what will average inventory have to be during the current year?
(Round answer to 0 decimal places, e.g. 125.)
Average Inventory
$
[removed]
(c)
A company has current assets of $89,370 (of which $36,250 is inventory and prepaid items) and current liabilities of $36,250. What is the current ratio? What is the acid-test ratio? If the company borrows $10,270 cash from a bank on a 120-day loan, what will its current ratio be? What will the acid-test ratio be?
(Round answers to 2 decimal places, e.g. 2.50.)
Current Ratio
[removed]
:1
Acid Test Ratio
[removed]
:1
New Current Ratio
[removed]
:1
New Acid Test Ratio
[removed]
:1
(d)
A company has current assets of $583,200 and current liabilities of $235,100. The board of directors declares a cash dividend of $173,600. What is the current ratio after the declaration but before payment? What is the current ratio after the payment of the dividend?
(Round answers to 2 decimal places, e.g. 2.50.)
Current ratio after the declaration but before payment
[removed]
:1
Current ratio after the payment of the dividend
[removed]
:1
Heartland Company’s budgeted sales and budgeted cost of goods sold for the coming year are $142,310,000 and $97,650,000, respectively. Short-term interest rates are expected to average 10%. If Heartland can increase inventory turnover from its present level of 9 times a year to a level of 12 times per year.
Compute its expected cost savings for the coming year.
Expected Cost Savings
$
[removed]
The following information pertains to Wamser Company:
Cash
$22,000
Accounts receivable
125,500
Inventory
74,500
Plant assets (net)
384,000
Total assets
$606,000
Accounts payable
$74,500
Accrued taxes and expenses payable
24,500
Long-term debt
49,500
Common stock ($10 par)
165,000
Paid-in capital in excess of par
89,000
Retained earnings
203,500
Total equities
$606,000
Net sales (all on credit)
$801,000
Cost of goods sold
605,000
Net income
80,500
Compute the following:
(Round answers to 2 decimal places e.g. 15.25.)
(a)
Current ratio
[removed]
: 1
(b)
Inventory turnover
[removed]
times
(c)
Accounts receivable turnover
[removed]
times
(d)
Book value per share
$
[removed]
(e)
Earnings per share
$
[removed]
(f)
Debt to assets
[removed]
%
(g)
Profit margin on sales
[removed]
%
(h)
Return on common stock equity
[removed]
%
Your answer is incorrect. Try again.
The following data is given:
December 31,
2015
2014
Cash
$65,500
$51,000
Accounts .
Due Tues., May 2- 7 questions Big Time Picture Frames h.docxsagarlesley
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
...
1nilB CHAPfER 12HOI\4EWORK
@l
CHAPTER T2 HOMEWORK
B.
Prablem 12-lA Statenent of cash flows (indirect method) L.O. 41 . Pl. P2, P3
Kazaam Company, a marchandiser, recenty comdeled its calendar-year2011 operations. For the year, (1)
all sales are credit sales, (2) all credits to Accounts Receisbla roftect cash receipts f,om custonrers, (3) all
prrchases of in\entory ara on cr€dit, (4) all debits to AccorJnts Payable relect cash payments for in/entory,
and (5) Other Expensas are paid in adwrne and are initially dabitad to Pnpaid Exponser. The company's
balance sheets ard income stat€ment blb\,-
KAZAAM COMPAI,IY
Comparatir,e B alarrco Sheets
December 31, 2011 and 2010
2011 2010
$ 49,800 S 73,500
65,880 57,000
277,AOO 251,000
1,250 1,800
158,500 106,500
(35,875) (46,000)
s 516,555 $443,800
$ 82,80s S 115,000
11,000 7,000
60,000 48,750
157,500 149,000
25,500 0
179,750 124,050
$ 516,555 $443,800
KAZAAM COMPANY
hcome Statem€nt
For Year Ended D€comber 31, 201 1
As3els
Cash
Accounts recei\EHe
Marchandise insntory
Prepaid expenses
Equipment
Accurn- depreciatN quipi"n€nt
Total asssls
LiabilitieBend Equity
Accounts payabb
Short-term notes payable
Lorp-term notes payable
C,ommon stock, $5 par raalue
Paid-in capital in excess ofpar, cornmon stock
R€tain€d eamings
Total liabilities and Gquity
Sales
Cost of goods sold
Gross profit
Operating exp€nses
Depreciatbn exp€nse
Other expnses
Other gains (losses)
Loss on sale of€quipmant
tr|come bebfe taxes
tlcome taxes expanse
Itlet incorns
s 583,000
286,000
297,000
$ 20,000
134,000 154,0m
137,500
25,500
5,500
$ 1 12,000
l- _ __._, , -----,.__.- * - ,__., .-._-::::-:a
Addllional hformafon on Yegr 2A11 Tnnsctions
a. The loss on the cash sal€ of equiprylent was $5,50O (details in b).
b, Sold equiprnent costing $47,250, with accumulated depreciation of$30,125, for 911,625 cash.
c. Purchasod equipment costing $99,250 by paying $25,[email protected] cash and signing a long.term note payable br
the balance-
d. Borroued $4,000 cash by silnirE a short-t€rm note payabl€.
e. Paid $63,@0 cesh to reducethe longiterm notes payabks.
f. lssued 1,700 shar6 of cornmon stock br $20 cash per share.
g. Daclarcd and paid cash dillderfrs of $ffi,300.
Required:
1. Prcpare a compl€te statefitsnt of cash florvs; repon [s op€rating actirities using the indirect meth(/,.
(Amounb to be deducted should be indicated with a minus sign. Omit the "3" sign in your
response.)
KAZAAM COMPANY
Statement of Cash Flom
1t2
1nu13 CHAPTER 12HOMEWCIRK
For Year Ended December 31, 201 1
fana- frs
Cash forvs fiom operating actirities
itbtincdns, '...,.., .,.. i .,, , 1v
Adiustments to reconcile net income to net
rua
"on llGE-l]]]lil incstins activties
Cash f,orls ftom fnancino actirities
Cashbaid dl nde: .lw
Ca*h'fioriorivedottshrt4eifi rde : r ..'ly
C'6h frorni63drEstsf. , .l'
Cash paid br d$d€rds
tl.t
""sn
li's-JElllTll l fnancins actirities
Cash balance at beginning of2011
Cash balance at end of 201 1
$: _J.
Chapter 2Problems Set BP2-1B Suppose the following items are .docxwalterl4
Chapter 2
Problems: Set B
P2-1B Suppose the following items are taken from the 2014 balance sheet of Starbucks Corporation. (All dollars are in millions.)
Goodwill
$ 477
Common stock
40
Equipment
3,036
Accounts payable
391
Stock investments (long-term)
280
Accounts receivable
288
Prepaid rent
278
Debt investments (current)
157
Retained earnings
2,244
Cash
281
Notes payable (noncurrent)
550
Notes payable (current)
1,468
Unearned sales revenue (current)
297
Bonds payable
354
Inventory
692
Accumulated depreciation—equipment
145
Instructions
Prepare a classified balance sheet for Starbucks Corporation as of September 30, 2014.
P2-2B These items are taken from the financial statements of Mueller, Inc.
Prepaid insurance
$ 2,400
Equipment
30,000
Salaries and wages expense
34,000
Utilities expense
2,100
Accumulated depreciation—equipment
7,600
Accounts payable
7,200
Cash
6,100
Accounts receivable
2,900
Salaries and wages payable
3,000
Common stock
6,000
Depreciation expense
4,300
Retained earnings (beginning)
14,000
Dividends
2,600
Service revenue
51,000
Maintenance and repairs expense
2,600
Insurance expense
1,800
Instructions
Prepare an income statement, a retained earnings statement, and a classified balance sheet as of December 31, 2014.
P2-3B You are provided with the following information for Vern Corporation, effective as of its April 30, 2014, year-end.
Accounts payable
$ 3,100
Accounts receivable
10,150
Accumulated depreciation—equipment
6,600
Depreciation expense
3,200
Cash
20,955
Common stock
20,000
Dividends
2,800
Equipment
24,250
Sales revenue
20,450
Income tax expense
700
Income taxes payable
300
Interest expense
350
Interest payable
175
Notes payable (due in 2018)
4,700
Prepaid rent
380
Rent expense
660
Retained earnings, beginning
13,960
Salaries and wages expense
5,840
Instructions
(a)
Prepare an income statement and a retained earnings statement for Vern Corporation for the year ended April 30, 2014.
(b)
Prepare a classified balance sheet for Vern as of April 30, 2014.
P2-4B Comparative statement data for Omaz Company and Wise Company, two competitors, are presented below. All balance sheet data are as of December 31, 2014.
Omaz Company
Wise Company
2014
2014
Net sales
$450,000
$900,000
Cost of goods sold
225,000
450,000
Operating expenses
130,000
150,000
Interest expense
6,000
10,000
Income tax expense
15,000
75,000
Current assets
180,000
700,000
Plant assets (net)
600,000
800,000
Current liabilities
75,000
230,000
Long-term liabilities
190,000
200,000
Net cash provided by operating activities
46,000
180,000
Capital expenditures
20,000
50,000
Dividends paid
-0-
5,000
Average number of shares outstanding
200,000
500,000
Instructions
(a)
Compute the net income and earnings per share for each company for 2014.
(b)
Comment on the relative liquidity of the companies by computing working capital and the current ratio for each company for 2014.
(c)
Comment on the relative solvency of the.
Exercises1. Horizontal analysis. Mary Lynn Corporation has been .docxSANSKAR20
Exercises
1. Horizontal analysis. Mary Lynn Corporation has been operating for several years. Selected data from the 20X1 and 20X2 financial statements follow.
20X2
20X1
Current Assets
$ 76,000
$ 80,000
Property, Plant, and Equipment (net)
99,000
90,000
Intangibles
25,000
50,000
Current Liabilities
40,800
48,000
Long-Term Liabilities
143,000
160,000
Stockholders' Equity
16,200
12,000
Net Sales
500,000
500,000
Cost of Goods Sold
332,500
350,000
Operating Expenses
93,500
85,000
2. Prepare a horizontal analysis for 20X1 and 20X2. Briefly comment on the results of your work.
3. Vertical analysis. Study the data pertaining to Mary Lynn Corporation that appear in Exercise 1. Prepare a vertical analysis for 20X1 and 20X2 and briefly evaluate the results of your work.
4. Liquidity ratios. Edison, Stagg, and Thornton have the following financial information at the close of business on July 10:
Edison
Stagg
Thornton
Cash
$4,000
$2,500
$1,000
Short-Term Investments
3,000
2,500
2,000
Accounts Receivable
2,000
2,500
3,000
Inventory
1,000
2,500
4,000
Prepaid Expenses
800
800
800
Accounts Payable
200
200
200
Notes Payable: Short-Term
3,100
3,100
3,100
Accrued Payables
300
300
300
Long-Term Liabilities
3,800
3,800
3,800
a. Compute the current and quick ratios for each of the three companies. (Round calculations to two decimal places.) Which firm is the most liquid? Why?
b. Suppose Thornton is using FIFO for inventory valuation and Edison is using LIFO. Comment on the comparability of information between these two companies.
c. If all short-term notes payable are due on July 11 at 8 a.m., comment on each company's ability to settle its obligation in a timely manner.
5. Computation and evaluation of activity ratios. The following data relate to Alaska Products Inc.:
20X5
20X4
Net Credit Sales
$832,000
$760,000
Cost of Goods Sold
440,000
350,000
Cash, Dec. 31
125,000
110,000
Accounts Receivable, Dec. 31
180,000
140,000
Inventory, Dec. 31
70,000
50,000
Accounts Payable, Dec. 31
115,000
108,000
6. The company is planning to borrow $300,000 via a 90-day bank loan to cover short-term operating needs.
a. Compute the accounts-receivable and inventory-turnover ratios for 20X5. Alaska rounds all calculations to two decimal places.
b. Study the ratios from part (a) and comment on the company's ability to repay a bank loan in 90 days.
c. Suppose that Alaska's major line of business involves the processing and distribution of fresh and frozen fish throughout the United States. Do you have any concerns about the company's inventory-turnover ratio? Briefly discuss.
7. Profitability ratios, trading on the equity. Digital Relay has both preferred and common stock outstanding. The company reported the following information for 20X7:
Net sales
$1,500,000
Interest Expense
120,000
Income Tax Expense
80,000
Preferred Dividends
25,000
Net Income
130,000
Average Assets
1,100,000
Average Common Stockholders' Equity
400,000
a. Compute the net-profit-margin ratio and the rates of re ...
Problem 12-9AYour answer is partially correct. Try again..docxChantellPantoja184
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.
Student ID 21458913 Exam 061684RR - The Impact of Manage.docxemelyvalg9
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.
Exam 061684RR - THE IMPACT OF MANAGEMENT Questions 1 to 20 S.docxgitagrimston
Exam: 061684RR - THE IMPACT OF MANAGEMENT
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. Brittman Corporation makes three products that use the current constraint-a particular type of machine. Data concerning those products appear below:
IP
NI
YD
Selling price per unit
$183.57
$207.74
$348.15
Variable cost per unit
$144.42
$155.04
$269.50
Minutes on the constraint
2.90
3.40
5.50
Assume that sufficient constraint time is available to satisfy demand for all but the least profitable product. Up to how much should the company be willing to pay to acquire more of the constrained resource?
A. $39.15 per unit
B. $15.50 per minute
C. $78.65 per unit
D. $13.50 per minute
2. A project profitability index greater than zero for a project indicates that
A. there has been a calculation error.
B. the project is unattractive and shouldn't be pursued.
C. the company should reevaluate its discount rate.
D. the discount rate is less than the internal rate of return.
3. A company's current ratio and acid-test ratios are both greater than 1. If obsolete inventory is written off, this would
A. decrease the current ratio.
B. increase net working capital.
C. decrease the acid-test ratio.
D. increase the acid-test ratio.
Use the following information to answer this question.
Financial statements for Larkins Company appear below:
Larkins Company
Statement of Financial Position
December 31, Year 2 and Year 1
(dollars in thousands)
Year 2 Year 1
Current assets:
Cash and marketable securities $180 $180
Accounts receivable, net 210 180
Inventory 130 120
Prepaid expenses 5050
Total current assets 570 530
Noncurrent assets:
Plant & equipment, net 1,540 1,480
Total assets $2,110 $2,010
Current liabilities:
Accounts payable $100 $130
Accrued liabilities 60 60
Notes payable, short term 90120
Total current liabilities 250 310
Noncurrent liabilities:
Bonds payable 480500
Total liabilities 730810
Stockholders' equity:
Preferred stock, $20 par, 10% 120 120
Common stock, $10 par 180 180
Additional paid-in capital--common stock 240 240
Retained earnings 840660
Total stockholders' equity 1,3801,200
Total liabilities & stockholders' equity $2,110 $2,010
Larkins Company
Income Statement
For the Year Ended December 31, Year 2
(dollars in thousands)
Sales (all on account) $2,760
Cost of goods sold 1,930
Gross margin 830
Selling and administrative expense 330
Net operating income 500
Interest expense 50
Net income before taxes 450
Income taxes (30%)
135
$315
Net income
Dividends during Year 2 totaled $135 thousand, of which $12 thousand were preferred dividends. The market price of a share of common stock on December 31, Year 2 was $150.
4. Larkins Company's dividend payout ...
Mini Case112018Chapter 2 Mini CaseSituationJenny Cochran, a grad.docxpauline234567
Mini Case11/20/18Chapter 2 Mini CaseSituationJenny Cochran, a graduate of The University of Tennessee with 4 years of experience as an equities analyst, was recently brought in as assistant to the chairman of the board of Computron Industries, a manufacturer of computer components.
During the previous year, Computron had doubled its plant capacity, opened new sales offices outside its home territory, and launched an expensive advertising campaign. Cochran was assigned to evaluate the impact of the changes. She began by gathering financial statements and other data.Computron's Balance Sheets (Millions of Dollars)20182019AssetsCash and equivalents$ 60$ 50Short-term investments10010Accounts receivable400520Inventories620820Total current assets$ 1,180$ 1,400Gross fixed assets$ 3,900$ 4,820Less: Accumulated depreciation1,0001,320Net fixed assets$ 2,900$ 3,500Total assets$ 4,080$ 4,900Liabilities and equityAccounts payable$ 300$ 400Notes payable50250Accruals200240Total current liabilities$ 550$ 890Long-term bonds8001,100Total liabilities$ 1,350$ 1,990Common stock1,0001,000Retained earnings1,7301,910Total equity$ 2,730$ 2,910Total liabilities and equity$ 4,080$ 4,900Computron's Income Statement (Millions of Dollars)20182019Net sales$ 5,500$ 6,000Cost of goods sold (Excluding depr. & amort.)4,3004,800Depreciation and amortizationa290320Other operating expenses350420Total operating costs$ 4,940$ 5,540Earnings before interest and taxes (EBIT)$ 560$ 460Less interest 68108Pre-tax earnings$ 492$ 352Taxes (25%)12388Net Income $ 369$ 264Notes:a Computron has no amortization charges.Other Data20182019Stock price$50.00$30.00Shares outstanding (millions)100100Common dividends (millions)$90$84Tax rate25%25%Weighted average cost of capital (WACC)10.00%10.00%Computron's Statement of Cash Flows (Millions of Dollars)
Bart Kreps: The statement of cash flows provides information about cash inflows and outflows during an accounting period.
2019Operating Activities Net Income before preferred dividends$ 264Noncash adjustments Depreciation and amortization320Due to changes in working capital Change in accounts receivable(120) Change in inventories(200) Change in accounts payable100 Change in accruals40Net cash provided by operating activities$ 404Investing activities Cash used to acquire fixed assets$ (920)
Bart Kreps: Make sure to add back annual Depreciation to Net PP&E.
Bart Kreps: The statement of cash flows provides information about cash inflows and outflows during an accounting period.
Change in short-term investments90Net cash provided by investing activities$ (830)Financing Activities Change in notes payable$ 200 Change in long-term debt300 Payment of cash dividends(84)Net cash provided by financing activities$ 416Net change in cash.
One of the recent developments facing the public administration of.docxarnit1
One of the recent developments facing the public administration of corrections is that there has been an increasing call by public officials and the citizenry to privatize the prison systems in the United States. Discuss the following in regard to this:
First, from the perspective of a public-sector correctional administrator, make 2 arguments for keeping the jails in public hands.
Second, from the perspective of a private-sector correctional facility manager make 2 arguments for turning the correctional system over to the private correctional industry.
Briefly discuss the types of challenges that each sector—both public and private—may face.
Are there any legal issues, either criminal or civil, that need to be addressed before privatization can occur?
Support your viewpoints from your readings and other appropriate outside sources, in APA format.
Please submit your...
(More)
Reading Assignment:
Peak, Chapters 9, 10, 11
.
One paragraph for each question 1.Discuss the work of Chuck C.docxarnit1
One paragraph for each question:
1.
Discuss the work of Chuck Close as we saw in the film in class. How does he work: show how he takes an image and changes it by the way he interprets it. Philip Glass states in the film: “It is the old idea of form and content, and what our generation did was include process”: apply this idea to Chuck’s work.
Look at EACH of the artists below on the Art 21 website.
Answer the following questions for each artist:
·
How does this artist work? Intuitively or intellectually?
·
How important is process to this artist?
·
What do you think this artist is trying to communicate?
·
Where do they get the ideas for their art ?
Barry McGee and Margaret Kilgallen
James Turrell Gabriel Orzoco
Shahzia Sikander Maya Lin
Ann Hamilton Do Ho Suh
Sally Mann
2.
In your text, pages 104-112, there is a discussion about the different roles of artists across cultures and time. What role do you think artists have in contemporary culture in the United States? What role do you think they should have? How important are the ideas and thoughts of artists to the development, maintenance, and structure of culture? Cite examples from your text about the different roles artists could play in modern culture.
3.
What is creativity (to you)? Find two examples of art you think is really “creative” describe why you think these works are “creative”. Explain why you think they are creative works. Do you exercise creativity? If not, why not? If so, how do you exhibit creative ideas and tendencies? Explain why you think creativity is important to culture.
.
One rich source of fallacies is the media television, radio, magazi.docxarnit1
One rich source of fallacies is the media: television, radio, magazines, and the Internet (including, of course, commercials.) Identify two distinct fallacies you see committed in the media. Do you think it is more likely that you will not be fooled by these fallacies having studied logic? What do you think those presenting these arguments assume about the logical skills of their viewers? Is this a good or bad assumption for them to make? 150 words
.
One Review of two pages is due the tenth week of class. It must be.docxarnit1
One Review
of two pages is due the tenth week of class. It must be a minimum of two typed pages, double spaced.
Your grade will drop significantly if it is less than two pages.
Scan any program, flyer, or ticket stub from the concert. Your grade will be lowered without this proof of attendance.
You must go to the concert during
this quarter!
Concerts attended during any other time frame are unacceptable and will receive an F.
the concert name is under the influence of music.
the singer name is sage the gemini. and the three songs are red nose, gas pedal and college drop.
Reviews should include the following:
1.
Name of the artist or group. Describe the musician(s) and instruments played. Briefly describe the audience and setting. How did the surroundings affect your experience?
2.
What were your expectations before attending the performance? Were those expectations met?
3. Describe two or three of the songs. Discuss any musical elements which stood out. For example:
Mood- what was the mood of the music? Exciting, sad, romantic?
Style- Rock and Roll, R and B, Hip Hop, Grunge, etc.
4.
Which was your favorite song and why? Which was your least favorite and why?
5. What did you like or dislike about the musicians playing and why?
6. Did you enjoy the performance on the whole? Why or why not?
.
One of the negative aspects of using nuclear power as an alternative.docxarnit1
One of the negative aspects of using nuclear power as an alternative energy source is
Answers available in ...
10
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best on this question.
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Conserving the quality of available water is a high priority world-wide. There are many countries whose water supply is reaching dangerous levels of contamination. For example, the longest river in China, the Yangtze, is less than 5 years from death if nothing changes. The statements below are possible effects on the environment if the Yangtze dies, which one is a positive effect on the environment?
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What does the endocrine system regulate?
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Which compound is a reusable, complex protein that speeds up chemical reactions?
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Scientists do not base their conclusions on
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Environmental agencies have concerns over mineral mining regulations due to
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online 5 weeks. There are Weekly 1- (Reading Assignments 1 – 1.docxarnit1
online 5 weeks. There are Weekly :
1- (Reading Assignments 1 – 14)
28%
2- based reflective writing assignments
(Application Assignments 1 – 14)
28%
3-
Participation
in online discussions (Assignments 1-14)
14%
and one
Research report.
20%
also
Community Engagement/Experiential learning activities report
10%
See the attachment for more details.
.
Online Discussion #6 The Passing of Time2727 unread replies.2929 .docxarnit1
Online Discussion #6: The Passing of Time
2727 unread replies.2929 replies.
Please watch this video in its entirety. It is only about 13 minutes.
https://www.ted.com/talks/stephen_wilkes_the_passing_of_time_caught_in_a_single_photo (Links to an external site.)
Your to dos for this discussion:
1. Now that you have had a bit of photography history, and gained a bit of appreciation for the beauty you can find in everyday images. I'd like you to take 3 photos of something (landscape, building, people, animal, objects, anything) that is outdoors.
·
· Take the 1st photo in the morning
· Take the 2nd photo (of the same image) in the afternoon
· Take the 3rd photo (of the same image) in the evening/night
Same image, same point of view, same angle, same composition (meaning point your camera in the same direction/same distance).
2. Briefly describe 3 new concepts/ideas you learned from this video. The concept/idea can be about photography, art, science, anything. There is no right or wrong answer. I just want to know what are the top 3 things you learned. Number your concepts/ideas 1 through 3. Please briefly describe what is it you learned and why it is a new thing for you.
3. Embed the 3 photos in your post. What have you learned from looking at the 3 photos you took? What have you learned between the photos you took and looking at the photos in the video.
1. Example:I observe how the beauty of nature invite us to appreciate the bright of the day and night and we could join the gorgeous vision with colors and multiples contrast an the same moment mix with material objects at the same time such as nature places, buildings and surround people or animals as a part of the artwork.
2. I also observe ho in the second picture more intense sunlight the in color and also could be observe as the peak of their brightness and I remember how it was related to the video the comparison of daytime in one of the first pictures of rocks and the spectator could see the different of colors with one part less brighter than the other in that place. Also is mention the time guide us and believe is true for example depends of what we see in the day we have an idea of the time it is.
3.-Also Impact to me part of the video when is mentioned how animals understand better than humans that we have to share our resources and they are agree to do it. Also something that I don’t used to appreciate that I believe is a excellent reflex ion that we are observing through the windows of the time is everyday and every moment which allow me to compare the admirable invaluable treasure in these pictures at famous places such as Yosemite .
I like this outdoors pictures due that is something that now helps me to appreciate more the windows time and also that this could guide me to be more observant and encourage me to analyze the infinity ways that I could appreciate more the art pictures with these different colors ,in shadows, in day time and specially in their uniq.
One to two page summary explaining the following 1.A basi.docxarnit1
One to two page summary explaining the following:
1.
A basic explanation of Moral Virtue Theory, Duty Theory, and Utilitarianism.
2.
A comprehensive explanation of which theory you feel best represents your personal ethical viewpoint and why you feel this way.
I need this by today midnight eastern standard time. Please advise
.
ONEWAY alcohol BY ratingSTATISTICS DESCRIPTIVES HOMOGENEITY.docxarnit1
ONEWAY alcohol BY rating
/STATISTICS DESCRIPTIVES HOMOGENEITY
/PLOT MEANS
/MISSING ANALYSIS
/POSTHOC=TUKEY ALPHA(0.05).
Oneway
Notes
Output Created
07-JUN-2013 12:39:57
Comments
Input
Data
C:\Users\donn\Documents\GCU Lead fac\Project with Judy for modifying PSY845 to introduce SPSS\drinks database -revised for course applications DH.sav
Active Dataset
DataSet1
File Label
SPSS/PC+
Filter
Weight
Split File
N of Rows in Working Data File
35
Missing Value Handling
Definition of Missing
User-defined missing values are treated as missing.
Cases Used
Statistics for each analysis are based on cases with no missing data for any variable in the analysis.
Syntax
ONEWAY alcohol BY rating
/STATISTICS DESCRIPTIVES HOMOGENEITY
/PLOT MEANS
/MISSING ANALYSIS
/POSTHOC=TUKEY ALPHA(0.05).
Resources
Processor Time
00:00:00.33
Elapsed Time
00:00:00.42
[DataSet1] C:\Users\donn\Documents\GCU Lead fac\Project with Judy for modifying PSY845 to introduce SPSS\drinks database -revised for course applications DH.sav
Descriptives
Alcohol by Volume (in %) for brand
N
Mean
Std. Deviation
Std. Error
95% Confidence Interval for Mean
Lower Bound
Upper Bound
VeryGood
11
4.9000
.17889
.05394
4.7798
5.0202
Good
14
4.6000
.38829
.10377
4.3758
4.8242
Fair
10
4.5100
.34140
.10796
4.2658
4.7542
Total
35
4.6686
.35295
.05966
4.5473
4.7898
Descriptives
Alcohol by Volume (in %) for brand
Minimum
Maximum
VeryGood
4.70
5.20
Good
4.00
5.50
Fair
3.90
5.00
Total
3.90
5.50
Test of Homogeneity of Variances
Alcohol by Volume (in %) for brand
Levene Statistic
df1
df2
Sig.
1.420
2
32
.256
ANOVA
Alcohol by Volume (in %) for brand
Sum of Squares
df
Mean Square
F
Sig.
Between Groups
.906
2
.453
4.357
.021
Within Groups
3.329
32
.104
Total
4.235
34
Post Hoc Tests
Multiple Comparisons
Dependent Variable:
Alcohol by Volume (in %) for brand
Tukey HSD
(I) Rated Quality of Brand
(J) Rated Quality of Brand
Mean Difference (I-J)
Std. Error
Sig.
VeryGood
Good
.30000
.12995
.069
Fair
.39000
*
.14093
.025
Good
VeryGood
-.30000
.12995
.069
Fair
.09000
.13354
.780
Fair
VeryGood
-.39000
*
.14093
.025
Good
-.09000
.13354
.780
Multiple Comparisons
Dependent Variable:
Alcohol by Volume (in %) for brand
Tukey HSD
(I) Rated Quality of Brand
(J) Rated Quality of Brand
95% Confidence Interval
Lower Bound
Upper Bound
VeryGood
Good
-.0193
.6193
Fair
.0437
*
.7363
Good
VeryGood
-.6193
.0193
Fair
-.2382
.4182
Fair
VeryGood
-.7363
*
-.0437
Good
-.4182
.2382
*. The mean difference is significant at the 0.05 level.
Homogeneous Subsets
Alcohol by Volume (in %) for brand
Tukey HSD
a,b
Rated Quality of Brand
N
Subset for alpha = 0.05
1
2
Fair
10
4.5100
Good
14
4.6000
4.6000
VeryGood
11
4.9000
Sig.
.784
.082
Means for groups in homogeneous subsets are displayed.
a. Uses Harmonic Mean Sample Size = 11.436.
b. The group sizes are unequal. The harmonic mean of the group sizes is used. Type I error levels are not guaranteed.
Mean.
One Paragrapher per question.1) The internet has significantly.docxarnit1
One Paragrapher per question.
1) The internet has significantly changed the way that organizations conduct their business operations in breaking down barriers that previously existed. In what ways do organizations have to change their business models and operations due to the effects of the internet? Use specific examples to justify your conclusions.
2)
The content up to this point covered microeconomics. Are there any concepts covered that you found most useful or interesting, or some concepts you find difficult?
3) Find an article on a current event related to microeconomics. Briefly summarize the article.
.
Online Dating and its effects on our Interpersonal Communication..docxarnit1
Online Dating and its effects on our Interpersonal Communication.
Are we closer, or further apart?
1-
Summarize new ideas on the topic (positive and negative effect on Interpersonal Communication)
and
conclude with how online dating relates to Interpersonal Communication
2
-
In the second portion of the paper you will discuss how learning to function within a Small Group is an essential part of the larger human experience (use your own life, work, pop culture, research, etc to elaborate your position)
*Page count for the paper is 4 double spaced pages* MLA style
You are required to use 2 outside sources for this major paper.
Please be sure to include formal citations.
(You can use our text, popular press (newspaper/magazines), academic articles, etc)
Due Tuesday June 25th at 8PM-Original work only
.
ONE QUESTIONLARGE CLASS I have given you the whole module under th.docxarnit1
ONE QUESTION
LARGE CLASS I have given you the whole module under the question requirements.
QUESTION
You need to teach vocabulary of character personality traits such as honest, stubborn, or sensible. NOT moods such as ahppy and sad.
When considering presentation techniques have in mind the target language is NON VISUAL you can’t draw honest so think of another way to convey the meaning
Please include
List of words of words you will teach
Assumed knowledge of students list of vocabulary structures you will expect your students to know
Anticipated problems.
Solution
s.
Prearations and aids
Step by step entire lesson and timing
THIS IS MY LAST CHANCE HELP
Understandably, before teachers begin teaching their first large class, they tend to think about the challenges inside the classroom. However, after a few days, it becomes clear that responsibilities outside class are equally challenging.
Welcome to this module on
teaching large classes.
Teaching large volumes of students at any one time is always a challenge, and so it is particularly important for the teacher to be well prepared. This module can help you overcome the difficulties generated from a large class, but it will also help you make the most of the benefits that it can provide.
In this module, you will find out:
a variety of methods and techniques to help you teach a large class of students to communicate in English
how to manage your time outside class
ways to manage a large group of students
how to keep your students participating and motivated
how to cater for students with different proficiency levels
how to arrange students
how to promote learner independence
how to organise feedback
how to monitor and assess student performance in a large class
WHAT DO WE MEAN BY LARGE CLASS
When we say 'large' we generally mean a class of 30-60 students, in some instances up to 100. The educational system of some countries precludes the formation of language groups that are so large, however in other countries, for instance India, China or South Korea, such classes are quite common.
School administrations may choose to split students into smaller groups for the following reasons:
Overpopulation and a lack of teachers.
The traditional belief that still prevails in some parts of the world where the aim of a language course is to prepare students for an examination (usually a formal, written, grammar-based one) rather than teach them to communicate in English. A lesson is therefore viewed as a lecture where a certain amount of knowledge is to be passed on to the students.
Depending on room size it would be difficult to divide the class but definitely possible.
Assess competency and delegate stronger class members to lead smaller groups within class room.
Delegate 4 class members if your class is 60 and instruct them each to distribute and collate homework.
Failing to prepare before entering the class means the class is doomed to fail
Rising to the challenge stimulates professional gro.
Once the training analysis is completed, the organization and employ.docxarnit1
Once the training analysis is completed, the organization and employee development human resources specialist uses adult learning theories to turn the training needs into training materials, courses, and instructional design.
Address the following elements of understanding the adult learning model:
Explain the theories of adult learning principles.
Compare the differences between child/adolescent and adult learning models (pedagogy and andragogy).
Discuss the concept of learning styles, personalities, and how these concepts are combined with adult learning in organizational training and development programs.
Explore the options that organizations have in applying adult learning to a comprehensive training and development program.
.
Once each individual selects their own feature topic, then each pers.docxarnit1
Once each individual selects their own feature topic, then each person should prepare their own
2 page text report that explains and presents the essence of the particular WSJ feature they are reviewing, plus some appendices as noted below
. The objective of each member’s individual 2 page report is to efficiently & effectively communicate a GENERAL message regarding what the WSJ feature section is about, as well as key and interesting insights presented in the section and gained through your work.
An example is provided at the end of this document.
.
Once the Application has started up and you are at the Start Page, s.docxarnit1
Once the Application has started up and you are at the Start Page, select the create a new project option. When presented with the New Project window like the one below, be sure that you have highlighted Console Application under the Templates window. Now give the new project the name INV_GRAB in the Name field, and have the location field pointing to the F:\SAI430 folder you have on the F: drive. The diagram below depicts what your New Project window should look similar to.
Once you have done this, select OK to complete this operation. You may get a "Microsoft Development Environment" message box stating that the project location is not a fully trusted .NET runtime location. You can ignore this and just select OK. You should now see your new project listed in the
Solution
Explorer window on the upper right hand corner of the editor window. You are now ready to begin setting up your form.
STEP 2: Setting Up a Database Connection
Back to Top
The first step now is to set up a database connection with Access and then a data set that can be used to transport the data from the database to the application to be written to a file. For the purposes of this lab and your project, you will only need data from two columns in the ITEMS table of the INVENTORY database, but we will control that with the code written later. The following steps will lead you through the process of setting up the connection.
To begin, you need to add the following three namespaces to the top of your application code:
using System.IO;
using System.Data;
using System.Data.OleDb;
Since you are going to be not only connecting to a database but also writing data to a file, you will need all three of these listed.
Now you can set up the connection to your Access database that you downloaded and put in your folder. The actual connection string is @"Provider=Microsoft.JET.OLEDB.4.0; data source=F:\inventory.mdb". This is a standard connection string for MS Access. You will want to precede this with the command - string conString = so that the finished connection looks like this.
string conString = @"Provider=Microsoft.JET.OLEDB.4.0; data source=F:\SAI430\inventory.mdb";
This is simply defining a string variable named conString and assigning the connection string to it. We will use this variable later.
Now we need to define an OleDbConnection that will be used to connect to the database. To do this you will need to define a connection variable as a new OleDbConnection and point it to the connection string defined in the previous step. Your code should look like the following.
OleDbConnection conn = new OleDbConnection(conString);
Now you can connect and open the database with the following command entered right below the line above.
conn.Open();
Last, we need to declare a variable that will be used later on. Although this really has nothing to do with setting up the database connection, this is as good a place as any to do this. You need to define a single variable named rowCount as an.
Once an individual has become a victim of a crime, there is the myst.docxarnit1
Once an individual has become a victim of a crime, there is the mystique of the victim not knowing how the criminal justice system operates and what role the victim plays in the system. The police chief of Anytown Police Department has compiled a group of staff members to put together an instructional document that would explain to a victim about the criminal justice system. You and your group are the team tasked with compiling this document.
As a group, draft a paper that depicts the various roles and responsibilities of the criminal justice system components: law enforcement, the courts, and corrections. Include what civil proceedings a victim can seek against an offender. Finally, include a section that describes a victim’s advocacy program, as well as highlights the services and activities provided to crime victims.
Group Project Portion (1)
As a group, determine how the following sections of the paper will be divided among the members with regard to victims, roles, and responsibilities:
Law enforcement
Courts
Corrections
Civil Court proceedings
Victim’s advocacy programs
Be sure to divide the above sections equally among members.
Individual Portion
Conduct your research, and write your portion of the comprehensive document that was assigned to you during the Group Portion (1).
Be sure to reference all sources using APA style.
Group Portion (2)
Meet as a group and compile your Individual Portions into the final comprehensive group submission.
Read through the final group document, and post a comment for each section in the Small Group Discussion Area.
The comments should explain one of the following to the individual writers:
Important information that was missed and why it should be included in the final document
Which part of the writer's Individual Portion is most significant to the value of the group document
Be sure that all responses are of high quality and offer valuable feedback.
.
Once again, open and read aboutMuseo Nacional de Banco Centr.docxarnit1
Once
again
,
open and read about
Museo Nacional de Banco Central de Ecuador
and the
Fundación Guayasamín
.
Write about upcoming shows and exhibitions at either of these museums. Use the future tense and
ir
+
a
+
infinitivo
in your answer.
.
One function of a leader is to provide the vision for the organiza.docxarnit1
One function of a leader is to provide the vision for the organization they lead. Being a role model and leading the way forward are important aspects of leadership. If you were leading an internet retailer or other organization that involves innovative technology and organizational flexibility, describe the process you would engage to create a vision for the organization and how you would get employees involved in that vision.
.
One afternoon at work, Natalie received a phone call from her daught.docxarnit1
One afternoon at work, Natalie received a phone call from her daughter’s teacher. It seemed that Brandi had got into trouble, and Natalie would need to meet with Brandi’s teacher and the school principal. Natalie could not imagine what the trouble could be. Brandi was a straight-A student, played soccer, and was part of the school band. She also helped out with chores at home. On the way to the school, Natalie decided she would not jump to conclusions but would hear Brandi’s side of the story. Then, she would let Brandi have a piece of her mind!
At school, Natalie met the school principal; Brandi’s teacher; and a crying, red-eyed Brandi. Brandi and two other girls had stolen a pack of cigarettes from a teacher’s purse and were caught smoking in the woods behind the school. Worse, one of the other girls had stolen the teacher’s prescription medication, though Brandi said she did not know anything about that. The principal and teacher said that this was a serious breach of trust and was against school policy. They knew Brandi and were “shocked” that she was involved in this activity. In private consultation with Natalie, they said that Brandi was involved with the wrong crowd, but there was still time to intervene before she developed a pattern of bad behavior.
Natalie left the meeting angry with Brandi, but also feeling guilty and responsible. She had been working extra hours and was often busy with her schoolwork. Perhaps she had neglected Brandi or missed important warning signs. She would ground Brandi, but more importantly, she would pay much closer attention to whom she befriended and where she went. Natalie decided she would establish a schedule where she would help the girls’ do their homework.
Natalie felt tired. After all the years of guidance and parenting, how could “two stupid tweens” undo all her hard work? She felt she had worked hard teaching Brandi and Jenny how to make good decisions and to know right from wrong. She worried what the next ten years would bring. She pondered the possibilities of other peer influences, alcohol, drugs, and boys.
Research differential association theory and social learning theory as applied to criminal behavior and crime using the textbook, the University online library resources, and the Internet. Select two scholarly, peer-reviewed articles for use in this assignment.
Based on the scenario, your readings and research, respond to the following:
How could Brandi’s behavior be explained using differential association theory?
How could Brandi’s behavior be explained using social learning theory?
What are the strengths and limitations of these two theories as applied to this example?
Be sure to support your responses using the selected resources.
Write your initial response in 4–6 paragraphs. Apply APA standards to citation of sources.
.
One of the key aspects of developing a strategy for the human elemen.docxarnit1
One of the key aspects of developing a strategy for the human elements in information technology (IT) project is to identify the roles and responsibilities of those affected by and involved with the projects. These people are called the
stakeholders
, and they will be the ones who determine the success of the projects. The key aspects of a project's success include the identification of the stakeholders and planning and preparing for the strategies of communication between those stakeholders.
For this assignment, you will continue to work on the Human Elements in IT Strategy document by identifying the stakeholders and defining their roles and responsibilities within the IT projects. You will then establish a strategy for communication between these stakeholders, including the methods of communication and identification of the key artifacts of project information that must be communicated during project execution. This is the Key Assignment First Draft.
The project deliverables are as follows:
Update the Human Elements in IT Strategy document title page with a new date.
Update the previously completed sections based on instructor feedback.
IT Project Stakeholders
Stakeholder Identification, Roles, and Responsibilities
Create a list of the key stakeholders in your organization’s IT projects.
Describe the roles and responsibilities of each stakeholder with respect to IT projects.
Summarize the issues related to the organization's IT projects that are important to each stakeholder.
Stakeholder Communication
Develop a strategy for communication between the stakeholders identified in the first part of the assignment.
The communication strategy should identify the major communication that should occur during the project and the key artifacts that should be communicated.
For example, a design document should be one of the key artifacts, and it should be communicated to specific project stakeholders.
A communication matrix would be appropriate for this part of the assignment.
Be sure to update your table of contents before submission.
.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
Ch02 P14 Build a Model Spring 1, 201372212Chapter 2. Ch 02 P14.docx
1. Ch02 P14 Build a Model Spring 1, 20137/22/12Chapter 2. Ch
02 P14 Build a ModelExcept for charts and answers that must
be written, only Excel formulas that use cell references or
functions will be accepted for credit. Numeric answers in cells
will not be accepted.a. Cumberland Industries' most recent sales
were $455,000,000; operating costs (excluding depreciation)
were equal to 85% of sales; net fixed assets were $67,000,000;
depreciation amounted to 10% of net fixed assets; interest
expenses were $8,550,000; the state-plus-federal corporate tax
rate was 40% and Cumberland paid 25% of its net income out in
dividends. Given this information, construct Cumberland's
income statement. Also calculate total dividends and the
addition to retained earnings.The input information required for
the problem is outlined in the "Key Input Data" section below.
Using this data and the balance sheet above, we constructed the
income statement shown below.Key Input Data for Cumberland
Industries2010 (Thousands of dollars)Sales
Revenue$455,000Expenses (excluding depreciation) as a
percent of sales85.0%Net fixed assest$67,000Depr. as a % of
net fixed assets10.0%Tax rate40.0%Interest
expense$8,550Dividend Payout Ratio25%Cumberland
Industries: Income Statement (Thousands of
dollars)2010SalesOperating costs excluding depreciation
EBITDADepreciation (Cumberland has no amortization charges)
EBITInterest expense EBTTaxes (40%) Net incomeCommon
dividendsAddition to retained earningsb. Cumberland
Industries' partial balance sheets are shown below. Cumberland
issued $10,000,000 of new common stock in the most recent
year. Using this information and the results from part a, fill in
the missing values for common stock, retained earnings, total
common equity, and total liabilities and equity. Dollar value of
common stock issued (in thousands of
dollars)$10,000Cumberland Industries December 31 Balance
Sheets(in thousands of dollars)20102009AssetsCash and cash
2. equivalents$91,450$74,625Short-term
investments11,40015,100Accounts
Receivable108,47085,527Inventories38,45034,982 Total
current assets$249,770$210,234 Net fixed
assets67,00042,436Total assets$316,770$252,670Liabilities and
equityAccounts
payable$30,761$23,109Accruals30,40522,656Notes
payable12,71714,217 Total current
liabilities$73,883$59,982Long-term debt80,26363,914 Total
liabilities$154,146$123,896Common stock$90,000Retained
earnings38,774 Total common equity$128,774Total liabilities
and equity$252,670Check for balancing (this should be zero):c.
Construct the statement of cash flows for the most recent year.
Statement of Cash Flows(in thousands of dollars)Operating
ActivitiesNet IncomeAdjustments: Noncash adjustment:
Depreciation Due to changes in working capital: Due to
change in accounts receivable
Kenneth D. Jackson: An increase in accounts receivable from
the pevious year to the current year reduces the net cash
provided by operating activities
Due to change in inventories
Kenneth D. Jackson: An increase in Inventory from the previous
year to the current year reduces the net cash provided by
operation activities Due to change in accounts payable
Mike Ehrhardt: An increase in accounts payable increases cash
flow. Due to change in accruals
Mike Ehrhardt: An increase in accruals is a positive cash
flow.Net cash provided (used) by operating activitiesInvesting
Activities Cash used to acquire gross fixed assets
Christopher Buzzard: Remember, to calculate cash used to
acquire fixed assets, we must include depreciation, i.e., assets
3. purchased are equal to the increase in net assets plus
depreciation. Due to change in short-term investments
Mike Ehrhardt: Selling securities is a positive cash flow, buying
securities is a negative cash flow.Net cash provided (used) by
investing activitiesFinancing Activities Due to change in
long-term debt
Mike Ehrhardt: An increase in debt is a positive cash flow.
Due to change in notes payable
Mike Ehrhardt: An increase in debt is a positive cash flow.
Due to change in common stock
Mike Ehrhardt: An increase in common stock is a positive cash
flow. Payment of common dividendsNet cash provided (used)
by financing activitiesNet increase/decrease in cashAdd: Cash
balance at the beginning of the yearCash balance at the end of
the yearCheck: cash balance in statement of cash flows should
equal the cash on balance sheets as shown here:$91,450
Sheet27/22/12
Financial Statements, Cash Flow, and Taxes: Spreadsheet
Problems
(2-14) Build a Model: Free Cash Flows, EVA, and MVA
Begin with the partial model in the file Ch02 P14 Build a
Model.xls on the textbook's Web site.
a. Cumberland Industries's 2010 sales were $455,000,000;
operating costs (excluding depreciation) were equal to 85% of
sales; net fixed assets were $67,000,000; depreciation amounted
to 10% of net fixed assets; interest expenses were $8,550,000;
4. the state-plus-federal corporate tax rate was 40%; and
Cumberland paid 25% of its net income out in dividends. Given
this information, construct Cumberland's 2010 income
statement. Also calculate total dividends and the addition to
retained earnings. ( Hint: Start with the partial model in the file
and report all dollar figures in thousands to reduce clutter.)
b. Cumberland Industries's partial balance sheets are shown
below. Cumberland issued $10,000,000 of new common stock in
2010. Using this information and the results from part a, fill in
the missing values for common stock, retained earnings, total
common equity, and total liabilities and equity.
Cumberland Industries: Balance Sheets as of December 31
(Thousands of Dollars)
2010
2009
Assets
Cash
$ 91,450
$ 74,625
Short-term investments
11,400
15,100
Accounts receivable
108,470
85,527
Inventories
38,450
34,982
Total current assets
$249,770
$210,234
Net fixed assets
67,000
42,436
Total assets
5. $316,770
$252,670
Liabilities and Equity
Accounts payable
$ 30,761
$ 23,109
Accruals
30,405
22,656
Notes payable
12,717
14,217
Total current liabilities
$ 73,883
$ 59,982
Long-term debt
80,263
63,914
Total liabilities
$154,146
$123,896
Common stock
?
$ 90,000
Retained earnings
?
38,774
Total common equity
?
$128,774
Total liabilities and equity
?
$252,670
Cumberland Industries: Balance Sheets as of December 31
(Thousands of Dollars)View PDF
6. Back to Top P. 81
Analysis of Financial Statements: Spreadsheet Problem
(3–15) Build a Model: Ratio Analysis
Start with the partial model in the file Ch03 P15 Build a
Model.xls from the textbook's Web site. Joshua & White (J&W)
Technologies's financial statements are also shown below.
Answer the following questions. (Note: Industry average ratios
are provided in Ch03 P15 Build a Model.xls.)
a. Has J&W's liquidity position improved or worsened?
Explain.
b. Has J&W's ability to manage its assets improved or
worsened? Explain.
c. How has J&W's profitability changed during the last year? d.
Perform an extended Du Pont analysis for J&W for 2009 and
2010. What do these results tell you?
e. Perform a common size analysis. What has happened to the
composition (that is, percentage in each category) of assets and
liabilities?
f. Perform a percentage change analysis. What does this tell you
about the change in profitability and asset utilization?
Joshua & White Technologies: December 31 Balance Sheets
(Thousands of Dollars)
Assets
2010
2009
Liabilities &Equity
2010
2009
Cash and cash equivalents
7. $ 21,000
$ 20,000
Accounts payable
$ 33,600
$ 32,000
Short-term investments
3,759
3,240
Accruals
12,600
12,000
Accounts receivable
52,500
48,000
Notes payable
19,929
6,480
Inventories
84,000
56,000
Total current liabilities
$ 66,129
$ 50,480
Total current assets
10. Joshua & White Technologies: December 31 Balance Sheets
(Thousands of Dollars)View PDF
Joshua & White Technologies December 31 Income Statements
(Thousands of Dollars)
2010
2009
Sales
$420,000
$400,000
Expenses excluding depr. & amort.
327,600
320,000
EBITDA
$ 92,400
$ 80,000
Depreciation and amortization
19,660
18,000
11. EBIT
$ 72,740
$ 62,000
Interest expense
5,740
4,460
EBT
$ 67,000
$ 57,540
Taxes (40%)
26,800
23,016
Net income
$ 40,200
$ 34,524
Common dividends
$ 18,125
$ 17,262
Joshua & White Technologies December 31 Income Statements
(Thousands of Dollars)View PDF
Back to Top P. 116
Joshua & White Technologies December 31 Income Statements
(Thousands of Dollars) (continued)View PDF
Other Data
12. 2010
2009
Year-end stock price
$ 90.00
$ 96.00
Number of shares (Thousands)
4,052
4,000
Lease payment (Thousands of Dollars)
$20,000
$20,000
Sinking fund payment (Thousands of Dollars)
$ 0
$ 0
Ch03 P15 Build a Model Spring 1, 20137/22/12Chapter 3. Ch
03 P15 Build a ModelExcept for charts and answers that must
be written, only Excel formulas that use cell references or
functions will be accepted for credit. Numeric answers in cells
will not be accepted.Joshua & White Technologies: December
31 Balance Sheets(Thousands of Dollars)Assets20102009Cash
and cash equivalents$21,000$20,000Short-term
investments3,7593,240Accounts
Receivable52,50048,000Inventories84,00056,000 Total current
assets$161,259$127,240 Net fixed assets218,400200,000Total
assets$379,659$327,240Liabilities and equityAccounts
payable$33,600$32,000Accruals12,60012,000Notes
payable19,9296,480 Total current
liabilities$66,129$50,480Long-term debt67,66258,320 Total
liabilities$133,791$108,800Common
stock183,793178,440Retained Earnings62,07540,000 Total
common equity$245,868$218,440Total liabilities and
equity$379,659$327,240Joshua & White Technologies
December 31 Income Statements(Thousands of
Dollars)20102009Sales$420,000$400,000Expenses excluding
13. depr. and amort.327,600320,000
EBITDA$92,400$80,000Depreciation and
Amortization19,66018,000 EBIT$72,740$62,000Interest
Expense5,7404,460 EBT$67,000$57,540Taxes
(40%)26,80023,016 Net Income
Michael C. Ehrhardt: Due to rounding, the numbers calculated
in the Chapter 2 problem may differ slightly from
these.$40,200$34,524Common
dividends$18,125$17,262Addition to retained
earnings$22,075$17,262Other Data20102009Year-end Stock
Price$100.00$96.00# of shares (Thousands)4,0524,000Lease
payment (Thousands of Dollars)$20,000$20,000Sinking fund
payment (Thousands of Dollars)$0$0Ratio
Analysis20102009Industry AvgLiquidity Ratios Current
Ratio2.58 Quick Ratio1.53Asset Management Ratios
Inventory Turnover7.69 Days Sales Outstanding47.45 Fixed
Assets Turnover2.04 Total Assets Turnover1.23Debt
Management Ratios Debt Ratio32.1% Times-interest-earned
ratio15.33 EBITDA coverage ratio4.18Profitability Ratios
Profit Margin8.86% Basic Earning Power19.48% Return on
Assets10.93% Return on Equity16.10%Market Value Ratios
Earnings per shareNA Price-to-earnings ratio10.65 Cash flow
per shareNA Price-to-cash flow ratio7.11 Book Value per
shareNA Market-to-book ratio1.72a. Has Joshua & White's
liquidity position improved or worsened? Explain.b. Has
Joshua & White's ability to manage its assets improved or
worsened? Explain.c. How has Joshua & White's profitability
changed during the last year?d. Perform an extended Du Pont
analysis for Joshua & White for 2008 and 2009. What did you
find?ROE = PM xTA Turnover x Equity
Multiplier20102009e. Perform a common size analysis. What
has happened to the composition (that is, percentage in each
category) of assets and liabilities?Common Size Balance
SheetsAssets20102009Cash and cash equivalentsShort-term
investmentsAccounts ReceivableInventories Total current
14. assets Net fixed assetsTotal assetsLiabilities and
equity20102009Accounts payableAccrualsNotes payable Total
current liabilitiesLong-term debt Total liabilitiesCommon
stockRetained Earnings Total common equityTotal liabilities
and equityCommon Size Income
Statements20102009SalesExpenses excluding depr. and amort.
EBITDADepreciation and Amortization EBITInterest Expense
EBTTaxes (40%) Net Incomef. Perform a percent change
analysis. What does this tell you about the change in
profitability and asset utilization?Percent Change Balance
SheetsBaseAssets20102009Cash and cash equivalentsShort-term
investmentsAccounts ReceivableInventories Total current
assets Net fixed assetsTotal assetsBaseLiabilities and
equity20102009Accounts payableAccrualsNotes payable Total
current liabilitiesLong-term debt Total liabilitiesCommon
stockRetained Earnings Total common equityTotal liabilities
and equityBasePercent Change Income
Statements20102009SalesExpenses excluding depr. and amort.
EBITDADepreciation and Amortization EBITInterest Expense
EBTTaxes (40%) Net Income
Sheet27/22/12