FINAL EXAM ACC400S. DuhnThe condensed financial statements.docx
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FINAL EXAM: ACC/400 S. Duhn The condensed financial statements of Westward Corporation for 2006 are presented below. Westward Corporation Westward Corporation Balance Sheet Income Statement December 31, 2006 For the Year Ended December 31, 2006 Assets Revenues $2,000,000 Current assets Expenses Cash and temporary Cost of goods sold 1,080,000 investments $ 30,000 Selling and administrative Accounts receivable 70,000 expenses 495,000 Inventories 120,000 Interest expense 30,000 Total current assets 220,000 Total expenses 1,605,000 Property, plant, and Income before income taxes 395,000 equipment (net) 780,000 Income tax expense 140,000 Total assets $1,000,000 Net income $ 255,000 Liabilities and Stockholders' Equity Current liabilities $ 80,000 Long-term liabilities 300,000 Common stockholders' equity 620,000 Total liabilities and stockholders' equity $1,000,000 Westward Corporation Westward Corporation Balance Sheet Income Statement December 31, 2005 For the Year Ended December 31, 2005 Assets Revenues $2,500,000 Current assets Expenses Cash and temporary Cost of goods sold 1,750,000 investments $ 40,000 Selling and administrative Accounts receivable 90,000 expenses 500,000 Inventories 150,000 Interest expense 30,000 Total current assets 280,000 Total expenses 2,280,000 Property, plant, and Income before income taxes 220,000 equipment (net) 800,000 Income tax expense 77,000 Total assets $1,080,000 Net income $ 143,000 Liabilities and Stockholders' Equity Current liabilities $ 140,000 Long-term liabilities 320,000 Common stockholders' equity 620,000 Total liabilities and stockholders' equity $1,080,000 Additional data as of December 31, 2004: Inventory = $100,000; Total assets = $900,000; Common stockholders' equity = $540,000. Instructions 1. Compute the following listed ratios for 2006 and 2005 showing supporting calculations. (a) Current ratio = . (b) Debt to total assets = . (c) Times interest earned = . (d) Inventory turnover = . (e) Profit margin ratio = . (f) Return on common stockholders' equity = . (g) Return on assets = . 2. Perform horizontal and vertical analysis on Westward both income statement and balance sheet, show your results. 3. Assess the financial performance of Westward, given the analysis tools used above. ...
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The condensed financial statements of Leeward Corporation for 2006 a.docx
The condensed financial statements of Leeward Corporation for 2006 and 2005 are presented below.
Leeward Corporation Leeward Corporation
Balance Sheet Income Statement
December 31, 2006 For the Year Ended December 31, 2006
Assets Revenues $2,500,000
Current assets Expenses
Cash and temporary Cost of goods sold 1,080,000
investments $ 50,000 Selling and administrative
Accounts receivable 70,000 expenses 495,000
Inventories 120,000 Interest expense 30,000
Total current assets 240,000 Total expenses 1,605,000
Property, plant, and Income before income taxes 895,000
equipment (net) 780,000 Income tax expense 268,500
Total assets $1,020,000 Net income $ 626,500
Liabilities and Stockholders' Equity
Current liabilities $ 100,000
Long-term liabilities 300,000
Common stockholders' equity 620,000
Total liabilities and
stockholders' equity $1,020,000
Leeward Corporation Leeward Corporation
Balance Sheet Income Statement
December 31, 2005 For the Year Ended December 31, 2005
Assets Revenues $2,500,000
Current assets Expenses
Cash and temporary Cost of goods sold 1,750,000
investments $ 40,000 Selling and administrative
Accounts receivable 90,000 expenses 500,000
Inventories 150,000 Interest expense 30,000
Total current assets 280,000 Total expenses 2,280,000
Property, plant, and Income before income taxes 220,000
equipment (net) 800,000 Income tax expense 66,000
Total assets $1,080,000 Net income $ 154,000
Liabilities and Stockholders' Equity
Current liabilities $ 140,000
Long-term liabilities 320,000
Common stockholders' equity 620,000
Total liabilities and
stockholders' equity $1,080,000
Instructions
1. Compute the following listed ratios for 2006.
(a) Current ratio = .
(b) Debt to total assets = .
(d) Profit margin ratio = .
(e) Return on common stockholders' equity = .
(f) Return on assets = .
2. Perform horizontal analysis on both the balance sheet and income statement.
Leeward Corporation
Balance Sheet
Horizontal Analysis
2006 2005 Change Percent
Assets
Cash and temporary investments $50,000 $40,000
Accounts receivable $70,000 $90,000
Inventories $120,000 $150,000
Total current assets $240,000 $280,000
Property, plant and equipment $780,000 $800,000
Total assets $1,020,000 $1,080,000
Liabilities & Stockholder’s Equity
Current liabilities $100,000 $140,000
Long-term liabilities $300,000 $320,000
Common stockholder’s equity $620,000 $620,000
Total liabilities and stockholder’s equity $1,020,000 $1,080,000
Leeward Corporation
Income Statement
.
The condensed financial statements of Leeward Corporation for .docx
The condensed financial statements of Leeward Corporation for 2006 and 2005 are presented below.
Leeward Corporation
Leeward Corporation
Balance Sheet
Income Statement
December 31, 2006
For the Year Ended December 31, 2006
Assets
Revenues
$2,500,000
Current assets
Expenses
Cash and temporary
Cost of goods sold
1,080,000
investments
$
50,000
Selling and administrative
Accounts receivable
70,000
expenses
495,000
Inventories
120,000
Interest expense
30,000
Total current assets
240,000
Total expenses
1,605,000
Property, plant, and
Income before income taxes
895,000
equipment (net)
780,000
Income tax expense
268,500
Total assets
$1,020,000
Net income
$
626,500
Liabilities and Stockholders' Equity
Current liabilities
$
100,000
Long-term liabilities
300,000
Common stockholders' equity
620,000
Total liabilities and
stockholders' equity
$1,020,000
Leeward Corporation
Leeward Corporation
Balance Sheet
Income Statement
December 31, 2005
For the Year Ended December 31, 2005
Assets
Revenues
$2,500,000
Current assets
Expenses
Cash and temporary
Cost of goods sold
1,750,000
investments
$
40,000
Selling and administrative
Accounts receivable
90,000
expenses
500,000
Inventories
150,000
Interest expense
30,000
Total current assets
280,000
Total expenses
2,280,000
Property, plant, and
Income before income taxes
220,000
equipment (net)
800,000
Income tax expense
66,000
Total assets
$1,080,000
Net income
$
154,000
Liabilities and Stockholders' Equity
Current liabilities
$
140,000
Long-term liabilities
320,000
Common stockholders' equity
620,000
Total liabilities and
stockholders' equity
$1,080,000
Instructions
Compute the following listed ratios for 2006.
(a)
Current ratio =
___________________________________________________________
.
(b)
Debt to total assets =
_____________________________________________________
.
(c)
Profit margin ratio =
______________________________________________________
.
(d)
Return on common stockholders' equity =
____________________________________
.
(e)
Return on assets =
_______________________________________________________
.
Perform horizontal analysis on both the balance sheet and income statement.
Leeward Corporation
Balance Sheet
Horizontal Analysis
2006
2005
Change
Percent
Assets
Cash and temporary investments
$50,000
$40,000
Accounts receivable
$70,000
$90,000
Inventories
$120,000
$150,000
Total current assets
$240,000
$280,000
Property, plant and equipment
$780,000
$800,000
Total assets
$1,020,000
$1,080,000
Liabilities & Stockholder’s Equity
Current liabilities
$100,000
$140,000
Long-term liabilities
$300,000
$320,000
Common stockholder’s equity
$620,000
$620,000
Total liabilities and
stockholder’.
B PROBLEMSP23-1B (L02,4) (SCF—Indirect Method) The followi.docx
B PROBLEMS
P23-1B (L02,4) (SCF—Indirect Method) The following are Sanibel Corp.’s comparative balance sheet accounts at Decem-
ber 31, 2017 and 2016, with a column showing the increase (decrease) from 2016 to 2017.
Additional information:
1. On December 31, 2016, Sanibel acquired 25% of Island Co.’s common stock for $420,000. On that date, the carrying value
of Island’s assets and liabilities, which approximated their fair values, was $1,680,000. Island reported income of $220,000
for the year ended December 31, 2017. No dividend was paid on Island’s common stock during the year.
2. During 2016, Sanibel loaned $500,000 to POI Co., an unrelated company. POI made the first semi-annual principal repay-
ment of $50,000, plus interest at 10%, on December 31, 2016. POI is current on the loan as of December 31, 2017.
3. On January 2, 2017, Sanibel sold equipment costing $100,000, with a carrying amount of $31,000, for $20,000 cash.
4. On December 31, 2017, Sanibel entered into a capital lease for a new factory. The present value of the annual rental pay-
ments is $850,000, which equals the fair value of the building. Sanibel made the first rental payment of $120,000 when due
on January 2, 2018.
5. Net income for 2017 was $285,000.
6. Sanibel declared and paid cash dividends for 2017 and 2016 as follows.
Instructions
Prepare a statement of cash flows for Sanibel Corp. for the year ended December 31, 2017, using the indirect method.
(AICPA adapted)
1
COMPARATIVE BALANCE SHEETS
Increase
2017 2016 (Decrease)
Cash $ 650,000 $ 510,000 $ 140,000
Accounts receivable 1,260,000 1,090,000 170,000
Inventory 1,538,000 1,370,000 168,000
Property, plant, and equipment 2,680,000 1,763,000 917,000
Accumulated depreciation (850,000) (760,000) (90,000)
Investment in Island Co. 475,000 420,000 55,000
Loan receivable 350,000 450,000 (100,000)
Total assets $6,103,000 $4,843,000 $1,260,000
Accounts payable $1,080,000 $ 910,000 $ 170,000
Income taxes payable 90,000 75,000 15,000
Dividends payable 100,000 60,000 40,000
Capital lease obligation 850,000 0 850,000
Common stock, $1 par 400,000 400,000 0
Paid-in capital in excess of 2,100,000 2,100,000 0
par—common stock
Retained earnings 1,483,000 1,298,000 185,000
Total liabilities and stockholders’ equity $6,103,000 $4,843,000 $1,260,000
2017 2016
Declared December 15, 2017 December 15, 2016
Paid February 28, 2018 February 28, 2017
Amount $100,000 $60,000
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2 Chapter 23 Statement of Cash Flows
P23-2B (L02,4) (SCF—Indirect Method) The comparative balance sheets for Queen Corporation show the following
information.
Additional data related to 2017 are as follows.
1. Equipment that had cost $20,000 and was 60% depreciated at time of disposal was sold for $2,000.
2. $18,000 of th ...
The financial statements of ABC Co. appear belowABC Co.Comp.docx
The financial statements of ABC Co. appear below:
ABC Co.
Comparative Balance Sheet
December 31, 2014
ASSETS
2014
2013
Cash
$25,000
$40,000
Marketable Securities
20,000
60,000
Accounts Receivable (net)
40,000
30,000
Inventory
150,000
170,000
Property, Plant and Equipment (net)
170,000
200,000
Total assets
$405,000
$500,000
Liabilities and Stockholders’ equity
Accounts Payable
$25,000
$30,000
Short Term Notes Payable
40,000
90,000
Bonds Payable
75,000
160,000
Common Stock
175,000
145,000
Retained Earnings
90,000
75,000
Total Liabilities and Stockholders’ Equity
$405,000
$500,000
ABC Co.
Income Statement
For the Year Ended December 31, 2014
Net Sales
$360,000
Cost of Goods Sold
184,000
Gross Profit
176,000
Expenses
Interest Expense
21,000
Selling Expense
30,000
Administrative Expense
20,000
Total Expenses
71,000
Income before income taxes
105,000
Income tax expense
30,000
Net income
$75,000
Additional information:
a. Cash dividends of $50,000 were declared and paid in 2014.
b. Weighted average number of shares of common stock outstanding during 2014 was 62,000 shares
c. Market value of common stock on December 31, 2014 was $15 per share.
d. Net cash provided by operating activities for 2014 was $65,000
Instructions:
Using the financial statements and additional information, compute the following ratios for ABC Co. for 2014. Show all computations.
1. Current ratio
2. Return on common stockholders equity
3. Price earnings ratio
4. Inventory turnover ratio
5. Receivables turnover
6. Times interest earned
7. Profit margin ratio
8. Average days in inventory
9. Payout ratio
10. Return on assets
...
The financial statements of ABC Co. appear belowABC Co.Compar.docx
The financial statements of ABC Co. appear below:
ABC Co.
Comparative Balance Sheet
December 31, 2014
ASSETS
2014
2013
Cash
$25,000
$40,000
Marketable Securities
20,000
60,000
Accounts Receivable (net)
40,000
30,000
Inventory
150,000
170,000
Property, Plant and Equipment (net)
170,000
200,000
Total assets
$405,000
$
500,000
Liabilities and Stockholders’ equity
Accounts Payable
$25,000
$30,000
Short Term Notes Payable
40,000
90,000
Bonds Payable
75,000
160,000
Common Stock
175,000
145,000
Retained Earnings
90,000
75,000
Total Liabilities and Stockholders’ Equity
$405,000
$500,000
ABC Co.
Income Statement
For the Year Ended December 31, 2014
Net Sales
$360,000
Cost of Goods Sold
184,000
Gross Profit
176,000
Expenses
Interest Expense
21,000
Selling Expense
30,000
Administrative Expense
20,000
Total Expenses
71,000
Income before income taxes
105,000
Income tax expense
30,000
Net income
$75,000
Additional information:
a.
Cash dividends of $50,000 were declared and paid in 2014.
b.
Weighted average number of shares of common stock outstanding during 2014 was 62,000 shares
c.
Market value of common stock on December 31, 2014 was $15 per share.
d.
Net cash provided by operating activities for 2014 was $65,000
Instructions:
Using the financial statements and additional information, compute the following ratios for ABC Co. for 2014.
Show all computations.
1.
Current ratio
2.
Return on common stockholders equity
3.
Price earnings ratio
4.
Inventory turnover ratio
5.
Receivables turnover
6.
Times interest earned
7.
Profit margin ratio
8.
Average days in inventory
9.
Payout ratio
10.
Return on assets
.
ABC Companys current financial information (beforewithout expansio.docx
ABC Company's current financial information (before/without expansion)
Dec. 31,20X2 Dec. 31,20X1
Cash $50,000 $70,000
Accounts receivable (net) $120,000 $180,000
Merchandise inventory $350,000 $280,000
Property plant, & equipment $400,000 $300,000
Less: Accumulated depreciation $(170,000) $(100,000)
Total assets $750,000 $730,000
Accounts payable $250,000 $210,000
Income taxes payable $40,000 $10,000
Common stock $240,000 $240,000
Retained earnings $220,000 $270,000
Total liabilities & stock, equity $750,000 $730,000
The firm's accrual-basis income statement revealed the following data:
Sales $1,200,000
Cost of goods sold $800,000
selling and administrative expenses $250,000
Depreciation expense $70,000
Income taxes $30,000
Dividends declared and paid during 19X2 $100,000
ABC purchased $100,000 of equipment for cash on August 14.
(There was no interest expense.)
.
Recommended
The condensed financial statements of Leeward Corporation for 2006 a.docx
The condensed financial statements of Leeward Corporation for 2006 and 2005 are presented below.
Leeward Corporation Leeward Corporation
Balance Sheet Income Statement
December 31, 2006 For the Year Ended December 31, 2006
Assets Revenues $2,500,000
Current assets Expenses
Cash and temporary Cost of goods sold 1,080,000
investments $ 50,000 Selling and administrative
Accounts receivable 70,000 expenses 495,000
Inventories 120,000 Interest expense 30,000
Total current assets 240,000 Total expenses 1,605,000
Property, plant, and Income before income taxes 895,000
equipment (net) 780,000 Income tax expense 268,500
Total assets $1,020,000 Net income $ 626,500
Liabilities and Stockholders' Equity
Current liabilities $ 100,000
Long-term liabilities 300,000
Common stockholders' equity 620,000
Total liabilities and
stockholders' equity $1,020,000
Leeward Corporation Leeward Corporation
Balance Sheet Income Statement
December 31, 2005 For the Year Ended December 31, 2005
Assets Revenues $2,500,000
Current assets Expenses
Cash and temporary Cost of goods sold 1,750,000
investments $ 40,000 Selling and administrative
Accounts receivable 90,000 expenses 500,000
Inventories 150,000 Interest expense 30,000
Total current assets 280,000 Total expenses 2,280,000
Property, plant, and Income before income taxes 220,000
equipment (net) 800,000 Income tax expense 66,000
Total assets $1,080,000 Net income $ 154,000
Liabilities and Stockholders' Equity
Current liabilities $ 140,000
Long-term liabilities 320,000
Common stockholders' equity 620,000
Total liabilities and
stockholders' equity $1,080,000
Instructions
1. Compute the following listed ratios for 2006.
(a) Current ratio = .
(b) Debt to total assets = .
(d) Profit margin ratio = .
(e) Return on common stockholders' equity = .
(f) Return on assets = .
2. Perform horizontal analysis on both the balance sheet and income statement.
Leeward Corporation
Balance Sheet
Horizontal Analysis
2006 2005 Change Percent
Assets
Cash and temporary investments $50,000 $40,000
Accounts receivable $70,000 $90,000
Inventories $120,000 $150,000
Total current assets $240,000 $280,000
Property, plant and equipment $780,000 $800,000
Total assets $1,020,000 $1,080,000
Liabilities & Stockholder’s Equity
Current liabilities $100,000 $140,000
Long-term liabilities $300,000 $320,000
Common stockholder’s equity $620,000 $620,000
Total liabilities and stockholder’s equity $1,020,000 $1,080,000
Leeward Corporation
Income Statement
.
The condensed financial statements of Leeward Corporation for .docx
The condensed financial statements of Leeward Corporation for 2006 and 2005 are presented below.
Leeward Corporation
Leeward Corporation
Balance Sheet
Income Statement
December 31, 2006
For the Year Ended December 31, 2006
Assets
Revenues
$2,500,000
Current assets
Expenses
Cash and temporary
Cost of goods sold
1,080,000
investments
$
50,000
Selling and administrative
Accounts receivable
70,000
expenses
495,000
Inventories
120,000
Interest expense
30,000
Total current assets
240,000
Total expenses
1,605,000
Property, plant, and
Income before income taxes
895,000
equipment (net)
780,000
Income tax expense
268,500
Total assets
$1,020,000
Net income
$
626,500
Liabilities and Stockholders' Equity
Current liabilities
$
100,000
Long-term liabilities
300,000
Common stockholders' equity
620,000
Total liabilities and
stockholders' equity
$1,020,000
Leeward Corporation
Leeward Corporation
Balance Sheet
Income Statement
December 31, 2005
For the Year Ended December 31, 2005
Assets
Revenues
$2,500,000
Current assets
Expenses
Cash and temporary
Cost of goods sold
1,750,000
investments
$
40,000
Selling and administrative
Accounts receivable
90,000
expenses
500,000
Inventories
150,000
Interest expense
30,000
Total current assets
280,000
Total expenses
2,280,000
Property, plant, and
Income before income taxes
220,000
equipment (net)
800,000
Income tax expense
66,000
Total assets
$1,080,000
Net income
$
154,000
Liabilities and Stockholders' Equity
Current liabilities
$
140,000
Long-term liabilities
320,000
Common stockholders' equity
620,000
Total liabilities and
stockholders' equity
$1,080,000
Instructions
Compute the following listed ratios for 2006.
(a)
Current ratio =
___________________________________________________________
.
(b)
Debt to total assets =
_____________________________________________________
.
(c)
Profit margin ratio =
______________________________________________________
.
(d)
Return on common stockholders' equity =
____________________________________
.
(e)
Return on assets =
_______________________________________________________
.
Perform horizontal analysis on both the balance sheet and income statement.
Leeward Corporation
Balance Sheet
Horizontal Analysis
2006
2005
Change
Percent
Assets
Cash and temporary investments
$50,000
$40,000
Accounts receivable
$70,000
$90,000
Inventories
$120,000
$150,000
Total current assets
$240,000
$280,000
Property, plant and equipment
$780,000
$800,000
Total assets
$1,020,000
$1,080,000
Liabilities & Stockholder’s Equity
Current liabilities
$100,000
$140,000
Long-term liabilities
$300,000
$320,000
Common stockholder’s equity
$620,000
$620,000
Total liabilities and
stockholder’.
B PROBLEMSP23-1B (L02,4) (SCF—Indirect Method) The followi.docx
B PROBLEMS
P23-1B (L02,4) (SCF—Indirect Method) The following are Sanibel Corp.’s comparative balance sheet accounts at Decem-
ber 31, 2017 and 2016, with a column showing the increase (decrease) from 2016 to 2017.
Additional information:
1. On December 31, 2016, Sanibel acquired 25% of Island Co.’s common stock for $420,000. On that date, the carrying value
of Island’s assets and liabilities, which approximated their fair values, was $1,680,000. Island reported income of $220,000
for the year ended December 31, 2017. No dividend was paid on Island’s common stock during the year.
2. During 2016, Sanibel loaned $500,000 to POI Co., an unrelated company. POI made the first semi-annual principal repay-
ment of $50,000, plus interest at 10%, on December 31, 2016. POI is current on the loan as of December 31, 2017.
3. On January 2, 2017, Sanibel sold equipment costing $100,000, with a carrying amount of $31,000, for $20,000 cash.
4. On December 31, 2017, Sanibel entered into a capital lease for a new factory. The present value of the annual rental pay-
ments is $850,000, which equals the fair value of the building. Sanibel made the first rental payment of $120,000 when due
on January 2, 2018.
5. Net income for 2017 was $285,000.
6. Sanibel declared and paid cash dividends for 2017 and 2016 as follows.
Instructions
Prepare a statement of cash flows for Sanibel Corp. for the year ended December 31, 2017, using the indirect method.
(AICPA adapted)
1
COMPARATIVE BALANCE SHEETS
Increase
2017 2016 (Decrease)
Cash $ 650,000 $ 510,000 $ 140,000
Accounts receivable 1,260,000 1,090,000 170,000
Inventory 1,538,000 1,370,000 168,000
Property, plant, and equipment 2,680,000 1,763,000 917,000
Accumulated depreciation (850,000) (760,000) (90,000)
Investment in Island Co. 475,000 420,000 55,000
Loan receivable 350,000 450,000 (100,000)
Total assets $6,103,000 $4,843,000 $1,260,000
Accounts payable $1,080,000 $ 910,000 $ 170,000
Income taxes payable 90,000 75,000 15,000
Dividends payable 100,000 60,000 40,000
Capital lease obligation 850,000 0 850,000
Common stock, $1 par 400,000 400,000 0
Paid-in capital in excess of 2,100,000 2,100,000 0
par—common stock
Retained earnings 1,483,000 1,298,000 185,000
Total liabilities and stockholders’ equity $6,103,000 $4,843,000 $1,260,000
2017 2016
Declared December 15, 2017 December 15, 2016
Paid February 28, 2018 February 28, 2017
Amount $100,000 $60,000
c23_Kieso_IA_16e_PB.indd Page 1 12/07/16 9:00 AM f-389 c23_Kieso_IA_16e_PB.indd Page 1 12/07/16 9:00 AM f-389 /208/WB01908/XXXXXXXXXXXXX/ch23/text_s/208/WB01908/XXXXXXXXXXXXX/ch23/text_s
2 Chapter 23 Statement of Cash Flows
P23-2B (L02,4) (SCF—Indirect Method) The comparative balance sheets for Queen Corporation show the following
information.
Additional data related to 2017 are as follows.
1. Equipment that had cost $20,000 and was 60% depreciated at time of disposal was sold for $2,000.
2. $18,000 of th ...
The financial statements of ABC Co. appear belowABC Co.Comp.docx
The financial statements of ABC Co. appear below:
ABC Co.
Comparative Balance Sheet
December 31, 2014
ASSETS
2014
2013
Cash
$25,000
$40,000
Marketable Securities
20,000
60,000
Accounts Receivable (net)
40,000
30,000
Inventory
150,000
170,000
Property, Plant and Equipment (net)
170,000
200,000
Total assets
$405,000
$500,000
Liabilities and Stockholders’ equity
Accounts Payable
$25,000
$30,000
Short Term Notes Payable
40,000
90,000
Bonds Payable
75,000
160,000
Common Stock
175,000
145,000
Retained Earnings
90,000
75,000
Total Liabilities and Stockholders’ Equity
$405,000
$500,000
ABC Co.
Income Statement
For the Year Ended December 31, 2014
Net Sales
$360,000
Cost of Goods Sold
184,000
Gross Profit
176,000
Expenses
Interest Expense
21,000
Selling Expense
30,000
Administrative Expense
20,000
Total Expenses
71,000
Income before income taxes
105,000
Income tax expense
30,000
Net income
$75,000
Additional information:
a. Cash dividends of $50,000 were declared and paid in 2014.
b. Weighted average number of shares of common stock outstanding during 2014 was 62,000 shares
c. Market value of common stock on December 31, 2014 was $15 per share.
d. Net cash provided by operating activities for 2014 was $65,000
Instructions:
Using the financial statements and additional information, compute the following ratios for ABC Co. for 2014. Show all computations.
1. Current ratio
2. Return on common stockholders equity
3. Price earnings ratio
4. Inventory turnover ratio
5. Receivables turnover
6. Times interest earned
7. Profit margin ratio
8. Average days in inventory
9. Payout ratio
10. Return on assets
...
The financial statements of ABC Co. appear belowABC Co.Compar.docx
The financial statements of ABC Co. appear below:
ABC Co.
Comparative Balance Sheet
December 31, 2014
ASSETS
2014
2013
Cash
$25,000
$40,000
Marketable Securities
20,000
60,000
Accounts Receivable (net)
40,000
30,000
Inventory
150,000
170,000
Property, Plant and Equipment (net)
170,000
200,000
Total assets
$405,000
$
500,000
Liabilities and Stockholders’ equity
Accounts Payable
$25,000
$30,000
Short Term Notes Payable
40,000
90,000
Bonds Payable
75,000
160,000
Common Stock
175,000
145,000
Retained Earnings
90,000
75,000
Total Liabilities and Stockholders’ Equity
$405,000
$500,000
ABC Co.
Income Statement
For the Year Ended December 31, 2014
Net Sales
$360,000
Cost of Goods Sold
184,000
Gross Profit
176,000
Expenses
Interest Expense
21,000
Selling Expense
30,000
Administrative Expense
20,000
Total Expenses
71,000
Income before income taxes
105,000
Income tax expense
30,000
Net income
$75,000
Additional information:
a.
Cash dividends of $50,000 were declared and paid in 2014.
b.
Weighted average number of shares of common stock outstanding during 2014 was 62,000 shares
c.
Market value of common stock on December 31, 2014 was $15 per share.
d.
Net cash provided by operating activities for 2014 was $65,000
Instructions:
Using the financial statements and additional information, compute the following ratios for ABC Co. for 2014.
Show all computations.
1.
Current ratio
2.
Return on common stockholders equity
3.
Price earnings ratio
4.
Inventory turnover ratio
5.
Receivables turnover
6.
Times interest earned
7.
Profit margin ratio
8.
Average days in inventory
9.
Payout ratio
10.
Return on assets
.
ABC Companys current financial information (beforewithout expansio.docx
ABC Company's current financial information (before/without expansion)
Dec. 31,20X2 Dec. 31,20X1
Cash $50,000 $70,000
Accounts receivable (net) $120,000 $180,000
Merchandise inventory $350,000 $280,000
Property plant, & equipment $400,000 $300,000
Less: Accumulated depreciation $(170,000) $(100,000)
Total assets $750,000 $730,000
Accounts payable $250,000 $210,000
Income taxes payable $40,000 $10,000
Common stock $240,000 $240,000
Retained earnings $220,000 $270,000
Total liabilities & stock, equity $750,000 $730,000
The firm's accrual-basis income statement revealed the following data:
Sales $1,200,000
Cost of goods sold $800,000
selling and administrative expenses $250,000
Depreciation expense $70,000
Income taxes $30,000
Dividends declared and paid during 19X2 $100,000
ABC purchased $100,000 of equipment for cash on August 14.
(There was no interest expense.)
.
Problems Problem 14-4AFinancial information for Ernie Bisho.docx
Problems:
Problem 14-4A
Financial information for Ernie Bishop Company is presented below.
ERNIE BISHOP COMPANY
Balance Sheets
December 31
Assets
2013
2012
Cash
$ 137,900
$ 128,050
Short-term investments
102,440
78,800
Receivables (net)
193,060
157,600
Inventory
246,250
265,950
Prepaid expenses
57,130
45,310
Land
256,100
256,100
Building and equipment (net)
330,960
344,750
$1,323,840
$1,276,560
Liabilities and Stockholders’ Equity
Notes payable
$197,000
197,000
Accounts payable
94,560
82,740
Accrued liabilities
86,680
78,800
Bonds payable, due 2016
295,500
295,500
Common stock, $10 par
394,000
394,000
Retained earnings
256,100
228,520
$1,323,840
$1,276,560
ERNIE BISHOP COMPANY
Income Statement
For the Years Ended December 31
2013
2012
Net sales
$1,690,260
$1,572,060
Cost of goods sold
1,203,670
1,132,750
Gross profit
486,590
439,310
Operating expenses
402,865
356,570
Net income
$ 83,725
$ 82,740
Additional information:
1.
Inventory at the beginning of 2012 was $232,460.
2.
Total assets at the beginning of 2012 were $1,245,040.
3.
No common stock transactions occurred during 2012 or 2013.
4.
All sales were on account.
5.
Receivables (net) at the beginning of 2012 were $173,360.
(a) Indicate, by using ratios, the change in liquidity and profitability of Ernie Bishop Company from 2012 to 2013. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all others to 1 decimal place, e.g. 6.8 or 6.8% .)
2012
2013
Change
LIQUIDITY
Current
:1
:1
Acid-test
:1
:1
Receivables turnover
times
times
Inventory turnover
times
times
PROFITABILITY
Profit margin
%
%
Asset turnover
times
times
Return on assets
%
%
Earnings per share
$
$
(b) Given below are three independent situations and a ratio that may be affected. For each situation, compute the affected ratio (1) as of December 31, 2013, and (2) as of December 31, 2014, after giving effect to the situation. Net income for 2014 was $98,500. Total assets on December 31, 2014, were $1,379,000.
Situation
Ratio
(1)
35,460 shares of common stock were sold at par on July 1, 2014.
Return on common stockholders’ equity
(2)
All of the notes payable were paid in 2014. The only change in liabilities was that the notes payable were paid.
Debt to total assets
(3)
Market price of common stock was $18 on December 31, 2013, and $24.63 on December 31, 2014.
Price-earnings ratio
2013
2014
Change
Return on common stockholders’ equity
%
%
Debt to total assets
%
%
Price-earnings ratio
times
times
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Problem 14-6A
The comparative statements of Beulah Company are presented below.
BEULAH COMPANY
Income Statement
For the Years Ended December 31
2014
2013
Net sales (all on account)
$501,000
...
Sheet1BUSI 320 Comprehensive Problem 1 2016 Spring BUse the follo.docx
Sheet1BUSI 320 Comprehensive Problem 1 2016 Spring BUse the following information to answer the questions below: note: all sales are credit salesIncome Stmt info:20142015Sales $ 1,000,000$ 1,050,000less Cost of Goods Sold:400,000424,000Gross Profit600,000626,000Operating Expenses350,000365,750Earnings before Interest & Taxes250,000260,250Interest exp25,00025,500earnings before Taxes225,000234,750Taxes90,00093,900Net Income$ 135,000$ 140,850Balance Sheet info:12/31/1412/31/15Cash25,000$ 30,000Accounts Receivable50,000$ 51,000Inventory125,000$ 137,500Total Current Assets$ 200,000$ 218,500Fixed Assets (Net)$ 300,000$ 315,000Total Assets$ 500,000$ 533,500Current Liabilities$ 110,000$ 117,700Long Term Liabilities$ 180,000$ 183,000Total Liabilities$ 290,000$ 300,700Stockholder's Equity$ 210,000$ 232,800Total Liab & Equity:$ 500,000$ 533,500Compute each of the following ratios for 2014 and 2015 and indicate whether each ratio was getting "better" or "worse" from 2014 to 2015 and was "good" or "bad" compared to the Industry Avg in 2015 (round all numbers to 2 digits past the decimal place)20142015Getting Better or Getting Worse?2015 Industry Avg "Good" or "Bad" compared to Industry AvgProfit Margin0.11Current Ratio1.90Quick Ratio0.66Return on Assets.28Debt to Assets.50Receivables turnover18.00Avg. collection period*21.20Inventory Turnover**8.25Return on Equity0.55Times Interest Earned11.15*Assume a 360 day year**Inventory Turnover can be computed 2 different ways. Use the formula listed in the text (the one the text indicates many credit reporting agencies generally use)
Sheet2
Sheet3
BUSI 320 Comprehensive Problem 1
Use the following information to answer the questions below:
note: all sales are credit sales
Income Stmt info:
2013
2014
Sales
$ 1,050,000
$ 1,128,750
less Cost of Goods Sold:
325,000
346,125
Gross Profit
725,000
782,625
Operating Expenses
575,000
609,500
Earnings before Interest & Taxes
150,000
173,125
Interest exp
25,000
29,000
earnings before Taxes
125,000
144,125
Taxes
50,000
57,650
Net Income
$ 75,000
$ 86,475
Balance Sheet info:
12/31/2013
12/31/2014
Cash
60,000
$ 66,000
Accounts Receivable
80,000
$ 83,200
Inventory
110,000
$ 119,900
Total Current Assets
$ 250,000
$ 269,100
Fixed Assets (Net)
$ 300,000
$ 318,000
Total Assets
$ 550,000
$ 587,100
Current Liabilities
$ 130,000
$ 136,500
Long Term Liabilities
$ 150,000
$ 170,000
Total.
MGT101 - Financial Accounting- Lecture 40
Virtual University
Course MGT101 - Financial Accounting
Lecture No 40
Instructor's Name: Mr. Mujahid Eshai
Course Email: mgt101@vu.edu.pk
A COM Balance Sheets As of December 31 2015 2014 Assets Current asset.pdf
A COM Balance Sheets As of December 31 2015 2014 Assets Current assets Cash Marketable
securities Accounts receivable (net) Inventories Prepaid items $ 20,000 20,800 49,000 134,000
28,000 16,000 6,800 41,000 142,000 13,000 Total current assets Investments Plant (net) Land
251,800 32,000 295,000 29,000 218,800 25,000 280,000 24,000 Total assets $607,800 $547,800
Liabilities and Stockholders\' Equity Liabilities Current liabilities Notes payable Accounts
payable Salaries payable $ 31,600 $ 17,700 100,000 17,000 113,800 23,000 Total current
liabilities 168,400 134,700 Noncurrent liabilities Bonds payable Other 120,000 120,000 32,000
152,000 320,400 27,000 147,000 281,700 Total noncurrent liabilities Total liabilities
Stockholders\' equity Preferred stock, (par value $10, 4% cumulative non-participating; 8,000
shares authorized and issued) 80,000 80,000 Common stock (No par; 50,000 shares authorized;
80,000 127,400 10,000 shares issued) 80,000 106,100 266,100 $607,800 $547,800 Retained
earnings Total stockholders\' equity 287,400 Total liabilities and stockholders\' equity
Solution
SOLUTION
1. Working Capital = Current assets - Current Liabilities
2014 -
Working capital = $218,800 - $134,700 = $84,100
2015-
Working capital = $251,800 - $168,400 = $83,400
2. Current Ratio = Current assets / Current liabilities
2014 -
Current ratio = $218,800 / $134,700 = 1.62
2015-
Current ratio = $251,800 / $168,400 = 1.50
3. Quick ratio = (Current assets - Inventories) / Current liabilities
2014 -
Quick ratio = ($218,800 - $142,000) / $134,700 = 0.57
2015-
Quick ratio = ($251,800 - $134,000) / $168,400 = 0.70
4. Receivable turnover = Net credit sales / Average accounts receivable
2014-
Average accounts receivable = (Beginning accounts receivable + Ending accounts receivable) / 2
= ($42,000 + $41,000) / 2 = $41,500
Receivable turnover = $290,000 / $41,500 = 6.99
2015-
Average accounts receivable = (Beginning accounts receivable + Ending accounts receivable) / 2
= ($41,000 + $49,000) / 2 = $45,000
Receivable turnover = $310,000 / $45,000 = 6.89.
BUSI 320 Comprehensive Problem 1 Version FALL BUse the followin.docx
BUSI 320 Comprehensive Problem 1 Version FALL B
Use the following information to answer the questions below:
note: all sales are credit sales
Income Stmt info:
2014
2015
Sales
$ 1,050,000
$ 1,128,750
less Cost of Goods Sold:
325,000
346,125
Gross Profit
725,000
782,625
Operating Expenses
575,000
609,500
Earnings before Interest & Taxes
150,000
173,125
Interest exp
25,000
29,000
earnings before Taxes
125,000
144,125
Taxes
50,000
57,650
Net Income
$ 75,000
$ 86,475
Balance Sheet info:
12/31/2014
12/31/2015
Cash
60,000
$ 66,000
Accounts Receivable
80,000
$ 83,200
Inventory
110,000
$ 119,900
Total Current Assets
$ 250,000
$ 269,100
Fixed Assets (Net)
$ 300,000
$ 318,000
Total Assets
$ 550,000
$ 587,100
Current Liabilities
$ 130,000
$ 136,500
Long Term Liabilities
$ 150,000
$ 170,000
Total Liabilities
$ 280,000
$ 306,500
Stockholder's Equity
$ 270,000
$ 280,600
Total Liab & Equity:
$ 550,000
$ 587,100
Compute each of the following ratios for 2014 and 2015 and
indicate whether each ratio was getting "better" or "worse" from 2014 to 2015
and whether the 2015 ratio was "good" or "bad" compared to the Industry Avg.
(round all numbers to 2 digits past the decimal place)
2014
2015
Getting Better or Getting Worse?
2015 Industry Avg
"Good" or "Bad" compared to Industry Avg
Profit Margin
0.11
Current Ratio
1.90
Quick Ratio
1.12
Return on Assets
.26
Debt to Assets
.55
Receivables turnover
18.00
Avg. collection period*
21.20
Inventory Turnover**
8.25
Return on Equity
0.25
Times Interest Earned
8.15
*Assume a 360 day year
**Inventory Turnover can be computed 2 different ways. Use the formula listed in the text
(the one the text indicates many credit reporting agencies generally use)
...
Calculating EFN The most recent financial statements for Moose Tours.pdf
Calculating EFN The most recent financial statements for Moose Tours, Inc., appear below.
Sales for 2012 are projected to grow by 20 percent. Interest expense will remain constant; the tax
rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets,
fixed assets, and accounts payable increase spontaneously with sales. MOOSE TOURS, INC.
2011 Income Statement Sales $ 836,100 Costs 650,700 Other expenses 17,100 Earnings before
interest and taxes $ 168,300 Interest expense 12,600 Taxable income $ 155,700 Taxes 54,495
Net income $ 101,205 Dividends $ 30,300 Addition to retained earnings 70,905 MOOSE
TOURS, INC. Balance Sheet as of December 31, 2011 Assets Liabilities and Owners’ Equity
Current assets Current liabilities Cash $ 24,035 Accounts payable $ 64,600 Accounts receivable
38,665 Notes payable 16,150 Inventory 82,555 Total $ 80,750 Total $ 145,255 Long-term debt $
150,000 Fixed assets Owners’ equity Net plant and equipment $ 392,350 Common stock and
paid-in surplus $ 130,000 Retained earnings 176,855 Total $ 306,855 Total assets $ 537,605
Total liabilities and owners’ equity $ 537,605 If the firm is operating at full capacity and no new
debt or equity is issued, what external financing is needed to support the 20 percent growth rate
in sales?
Solution
EFN = Total assets – Total liabilities and equity
Proforma Income Statement
Projected
Particulars
Amount
%
Particulars
Amount
Sales
836,100
100.00
Sales
1,003,320
Less : Costs
650,700
77.83
Less : Costs
780,840
Other Expenses
17,100
2.05
Other Expenses
20,520
EBIT
168,300
20.13
EBIT
201,960
Interest
12,600
Interest
12,600
Taxable Income
155,700
Taxable Income
189,360
Taxes
54,495
35.00
Taxes
66,276
Net Income
101,205
Net Income
123,084
Dividends
30,300
29.94
Dividends
36,850
Additon to retain earnings
70,905
Additon to retain earnings
86,234
Balance Sheet
Assets
Amount
%
Liabilities and Owners’ Equity
Amount
%
Current assets
Current liabilities
Cash
24,035
Accounts Payable
64,600
Accounts Receivable
38,665
Notes Payable
16,150
Inventory
82,555
80,750
15.02
145,255
37.02
Fixed assets :
Long Term Debt
150,000
Net plant and equipment
392,350
72.98
Owners’ equity
Common stock and paid-in surplus
130,000
Retained earnings
176,855
306,855
537,605
100.00
537,605
Balance Sheet(Projected)
Assets
Amount
%
Liabilities and Owners’ Equity
Amount
%
Current assets
Current liabilities
Cash
28,842
Accounts Payable
77,520
Accounts Receivable
46,398
Notes Payable
19,380
Inventory
99,066
96,900
15.141
174,306
37.02
Fixed assets :
Long Term Debt
150,000
Net plant and equipment
470,820
72.98
Owners’ equity
Common stock and paid-in surplus
130,000
Retained earnings(176,855+86,234)
263,089
393,089
645,126
100.00
639,989
EFN
5,137
Proforma Income Statement
Projected
Particulars
Amount
%
Particulars
Amount
Sales
836,100
100.00
Sales
1,003,320
Less : Costs
650,700
77.83
Less : Costs
780,840
Other Expenses
17,100
2.05
Other Expenses
20,520
EBIT
168,300
20.13
EBIT
201,960
Interest
12,.
In.docx
Income Statement
Balance Sheet
Next Year
This Year
Next Year
Revenue
$5,000
Total assets
$1,000
$2,000
Operating expenses
4,000
Liabilities & equity:
EBIT
1,000
Current liabilities
$ 576
$ 200
Interest (8%)
?
Long-term debt
100
?
EBT
?
Equity
324
?
Taxes(40%)
?
Earnings after tax
?
Total liabilities
& equity
$1,000
$2,000
The firm pays 8% interest on all of its debt and is subject to a 40% tax rate. Complete the plan.
1. Emperor Corporation's financial statements for the last year are shown below. The firm paid a $1,000 dividend to its stockholders during the year. There were no sales of new stock.
Balance Sheets
ASSETS
Ending
Beginning
Income Statement
Cash
$ 2,000
$ 1,600
Sales
$100,000
Accounts receivable
12,000
5,200
COGS
80,000
Inventory
14,000
15,600
Gross Margin
$ 20,000
Current Assets
$28,000
$22,400
Cash Expenses
$ 8,000
Gross Fixed assets
$27,000
$20,000
Depreciation
1,600
Accumulated depreciation
(16,000
)
(14,400
)
EBIT
$ 10,400
Net fixed assets
11,000
5,600
Interest
800
Total assets
$39,000
$28,000
EBT
$ 9,600
LIABILITIES
Tax
2,600
Accounts payable
$ 3,000
$ 2,500
Net Income
$ 7,000
Accruals
1,000
1,500
Current Liabilities
$ 4,000
$ 4,000
Long term Debt
10,000
5,000
Equity
25,000
19,000
Total liabilities & equity
$39,000
$28,000
Develop Emperor's Statement of Cash Flows.
.
Acct 550 week 2 homework assignment
devry acct 550 week 2 homework assignment,devry acct 550 week 2,devry acct 550,devry acct 550 week 2 tutorial,devry acct 550 week 2 assignment,devry acct 550 week 2 help
Financial Ratios1.Liquidity ratios. Edison, Stagg,.docx
Financial Ratios
1.
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
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?
2.
Computation and evaluation of activity ratios
.
The following data relate to Alaska Products, Inc:
19X5
19X4
Net credit sales
$832,000
$760,000
Cost of goods sold
440,000
350,000
Cash, Dec. 31
125,000
110,000
Average Accounts receivable
180,000
140,000
Average Inventory
70,000
50,000
Accounts payable, Dec. 31
115,000
108,000
Compute the accounts receivable and inventory turnover ratios for 19X5. Alaska rounds all calculations to two decimal places.
3.
Profitability ratios, trading on the equity
.
Digital Relay has both preferred and common stock outstanding. The company reported the following information for 19X7:
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
Compute the gross profit margin ratio, the return on equity and the return on assets, rounding calculations to two decimal places.
Does the firm have positive or negative financial leverage? Briefly explain.
4.
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
Prepare a horizontal analysis for 20X1 and 20X2. Briefly comment on the results of your work.
5.
Vertical analysis
. Mary Lynn Corporation has been operating for several years. Selected data from the 20X1 and 20X2 financial statements follow.
20X2
20X1
Current Asse.
Exercise 12-1Putnam Corporation had these transactions during 20.docx
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
$
...
Ch02 P14 Build a Model Spring 1, 201372212Chapter 2. Ch 02 P14.docx
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 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. ...
Exercise 5-5Uhura Company has decided to expand its operations. Th.pdf
Exercise 5-5
Uhura Company has decided to expand its operations. The bookkeeper recently completed the
balance sheet presented below in order to obtain additional funds for expansion.
UHURA COMPANY
BALANCE SHEET
FOR THE YEAR ENDED 2014
Current assets
Cash $230,000
Accounts receivable (net) 340,000
Inventory (lower-of-average-cost-or-market) 401,000
Equity investments (trading)-at cost (fair value $120,000) 140,000
Property, plant, and equipment
Buildings (net) 570,000
Equipment (net) 160,000
Land held for future use 175,000
Intangible assets
Goodwill 80,000
Cash surrender value of life insurance 90,000
Prepaid expenses 12,000
Current liabilities
Accounts payable 135,000
Notes payable (due next year) 125,000
Pension obligation 82,000
Rent payable 49,000
Premium on bonds payable 53,000
Long-term liabilities
Bonds payable 500,000
Stockholders’ equity
Common stock, $1.00 par, authorized 400,000 shares, issued 290,000 290,000
Additional paid-in capital 160,000
Retained earnings ?
Prepare a revised balance sheet given the available information. Assume that the accumulated
depreciation balance for the buildings is $160,000 and for the equipment, $105,000. The
allowance for doubtful accounts has a balance of $17,000. The pension obligation is considered a
long-term liability. (List Current Assets in order of liquidity. List Property, Plant and Equipment
in order of Buildings and Equipment. Enter account name only and do not provide the
descriptive information provided in the question.)
Uhura Company
Balance Sheet
December 31, 2014
Assets
$
$
:
$
$
:
:
$
Liabilities and Stockholders\' Equity
$
$
$
:
$
Solution
The revised balance sheet is as below
Heads
Amount
Amount
Current assets:
Cash
$230,000
Accounts receivable (Gross) (340,000 + 17,000 =)
$357,000
Less: Allowance for doubtful accounts
$17,000
$340,000
Inventory
$401,000
Equity investments
$140,000
Total current assets (a)
1,111,000
Property, plant, and equipment:
Building (Gross) (570,000 + 160,000 =)
$730,000
Less: Accumulated depreciation
$160,000
$570,000
Equipment (Gross) (160,000 + 105,000 =)
$265,000
Less: Accumulated depreciation
$105,000
$160,000
Land
$175,000
Goodwill
$80,000
Cash surrender value
$90,000
Prepaid expenses
$12,000
Total property, plant, and equipment (b)
$1,087,000
Total assets (a + b)
$2,198,000
Current liabilities:
Accounts payable
$135,000
Notes payable
$125,000
Rent payable
$49,000
Premium on bonds payable
$53,000
Total current liabilities (c)
$362,000
Long-term liabilities:
Pension obligation
$82,000
Bonds payable
$500,000
Total long-term liabilities (d)
$582,000
Stockholders’ equity:
Common stock
$290,000
Additional paid-in capital
$160,000
Retained earnings {(a + b) – c – d – common stock – additional paid-in capital}
$804,000
Total stockholders’ equity (e)
$1,254,000
Total liabilities and stockholders’ equity (c + d + e)
$2,198,000
Heads
Amount
Amount
Current assets:
Cash
$230,000
Accounts receivable (Gross) (340,000 + 17,000 =)
$357,000
Less: Allowance for doubtf.
Ruth & AssociatesIncome StatementFor the Year Ended December 31,.pdf
Ruth & Associates
Income Statement
For the Year Ended December 31, 2010
Revenue
Consulting Revenue
100000
Interest Revenue
4000
Total Revenue
104000
Expenses
Salary Expense
47000
Interest Expense
5000
Total Expenses
52000
Net Income
52000
Ruth & Associates
Statement of Changes in Stockholders’ Equity
For the Year Ended December 31, 2010
Beginning Common Stock
25000
Plus: Common Stock Issued
15000
Ending Common Stock
40000
Beginning Retained Earnings
18000
Plus: Net Income
52000
Less: Dividends
10000
Ending Retained Earnings
60000
Total Stockholders’ Equity
100000
Ruth & Associates
Balance Sheet
As of the December 31, 2010
Assets
Cash
52000
Accounts Receivable
26000
Supplies
3000
Prepaid Rent
5000
Land
63000
Total Assets
149000
Liabilities
Interest Payable
2000
Salaries Payable
7000
Unearned Revenue
8000
Notes Payable
32000
Total Liabilities
49000
Stockholders’ Equity
Common Stock
40000
Retained Earnings
60000
Total Stockholders’ Equity
100000
Total Liab. and Stockholders’ Equity
149000
Ruth & Associates
Statement of Cash Flows
For the Year Ended December 31, 2010
Cash Flow From Operating Activities
52000
Cash Flow From Investing Activities
-30000
Cash Flow From Financing Activities
20000
Net Change in Cash Plus:
42000
Beginning Cash Balance
10000
Ending Cash Balance
52000
Ending Cash Balance
52000
Net Change in Cash
42000
= Beginning Cash Balance
10000
Ruth & Associates
Income Statement
For the Year Ended December 31, 2010
Revenue
Consulting Revenue
100000
Interest Revenue
4000
Total Revenue
104000
Expenses
Salary Expense
47000
Interest Expense
5000
Total Expenses
52000
Net Income
52000
Ruth & Associates
Statement of Changes in Stockholders’ Equity
For the Year Ended December 31, 2010
Beginning Common Stock
25000
Plus: Common Stock Issued
15000
Ending Common Stock
40000
Beginning Retained Earnings
18000
Plus: Net Income
52000
Less: Dividends
10000
Ending Retained Earnings
60000
Total Stockholders’ Equity
100000
Ruth & Associates
Balance Sheet
As of the December 31, 2010
Assets
Cash
52000
Accounts Receivable
26000
Supplies
3000
Prepaid Rent
5000
Land
63000
Total Assets
149000
Liabilities
Interest Payable
2000
Salaries Payable
7000
Unearned Revenue
8000
Notes Payable
32000
Total Liabilities
49000
Stockholders’ Equity
Common Stock
40000
Retained Earnings
60000
Total Stockholders’ Equity
100000
Total Liab. and Stockholders’ Equity
149000
Ruth & Associates
Statement of Cash Flows
For the Year Ended December 31, 2010
Cash Flow From Operating Activities
52000
Cash Flow From Investing Activities
-30000
Cash Flow From Financing Activities
20000
Net Change in Cash Plus:
42000
Beginning Cash Balance
10000
Ending Cash Balance
52000
Ending Cash Balance
52000
Net Change in Cash
42000
= Beginning Cash Balance
10000
Solution
Ruth & Associates
Income Statement
For the Year Ended December 31, 2010
Revenue
Consulting Revenue
100000
Interest Revenue
4000
Total Revenue
104000
Expenses
Salary Expense
47000
Interest Expense
5000
Total Expenses
52000
Net Income
5200.
Problem 8 The trial balance of Hunter Inc. included the following acc.pdf
please help me with 11-3 to 11-5
your help is greatly appreciated
thanks
Solution
As per policy, only one question is allowed to answer at a time, so answering 11-3 :E 11 -3)
(a)DateAccounts TitlesDebit $Credit $10-JanCash350000Common Stock350000.(being issue of
shares at $5 per share)1-JulCash280000Common Stock200000.Paid in capital in excess of par-
CS80000(being issue of shares at $5 per sharewith additional capital of $2 per share)E 11 -3)
(b)DateAccounts TitlesDebit $Credit $10-JanCash350000Common Stock70000.Paid in capital in
excess of stated value-CS280000(being issue of shares at $1 stated value)1-
JulCash280000Common Stock40000.Paid in capital in excess of stated value-CS240000(being
issue of shares at $1 stated value).
CSIA 413 Cybersecurity Policy, Plans, and Programs.docx
CSIA 413: Cybersecurity Policy, Plans, and Programs
June 2, 2019
Executive Summary
The Red Clay Renovations Employee Handbook is to give general rules about its strategies. The Employee Handbook will fill in as a guide for workers to get comfortable with Red Clay Renovations strategies for "Acceptable Use Policy for Information Technology", "Bring Your Own Device Policy " and "Digital Media Sanitization, Reuse, and Destruction Policy". Red Clay Renovations maintains whatever authority is needed to adjust the Employee Handbook to best suit the organization whenever with no earlier warning to its representatives.
Red Clay Renovations "Acceptable Use Policy for Information Technology" will characterize in subtleties what Acceptable Use is and what it's most certainly not. Every Employee will get his/her duty of the framework accounts, processing resources, organize utilization and will sign and consent to the approach before access is conceded to the system.
Red Clay Renovations "Bring Your Own Device Policy or BYOD" will name every one of the gadgets that are satisfactory as BYOD and the administration of the use of such gadgets. Every worker's gadgets must satisfy the arrangement guideline before actualizing the gadgets into Red Clay Renovation Company.
Red Clay Renovations "Digital Media Sanitization, Reuse, and Destruction Policy" will ensure that any worker of Red Clay Renovation who marked for the BYOD approach has/should sign this arrangement also. Workers need to comprehend the techniques the organization will use to clean off the BYOD.
Acceptable Use Policy
Introduction
This Acceptable Use Policy is for all Red Clay Renovation workers and supplants every single past version. All workers are liable to the terms and states of the Policy. The approach will build up satisfactory and inadmissible utilization of defending the security of information, secure and ensure PC and PCs, the use of system condition and servers, the utilization of electronic correspondences. Additionally Red Clay Renovation gathers, keeps up, and stores individual data to incorporate Mastercard’s, credit checks, building plans and illustrations, customers restorative and wellbeing information.
Red Clay Renovation must be in consistence with the accompanying: HIPPA Privacy and Security Rule, Freedom of Information Act (FOIA), PCI DSS, Privacy Act of 1977, Building Codes and Regulations. It is to the greatest advantage of the organization for all workers to comprehend the Acceptable Use Policy to settle on trustworthy choices before participating in inadmissible utilization of the approach. Any offense with the Acceptable Use Policy could conceivably cause Red Clay Renovation considerable loss of its business and its notorieties. On the off chance that any worker needs more data with this arrangement, they can reach out to the IT department directly.
Policy Content
Utilization of IT Systems
Red Clay Renovation possesses the property rights to all informati.
CSIS 100CSIS 100 - Discussion Board Topic #1One of the object.docx
CSIS 100
CSIS 100 - Discussion Board Topic #1:
One of the objectives of this course is to enable students to differentiate between the disciplines of Information Systems, Information Technology, and Computer Science. Oftentimes, these areas overlap and are difficult to distinguish – even among professionals within the industries.
There are some distinctions that become evident, but all too frequently, people do not understand these distinctions until they are already deep within their programs of study. Consequently, many decide that it is too late to pursue a different avenue in the computing world without losing valuable time and money spent on courses that may or may not apply to a different major.
Given the importance of achieving effective planning from the beginning, your first assignment in this course is to delve into the broad areas of Information Systems, Information Technology, and Computer Science and write about your career choice in a discussion board post. This should be your thought process:
· First, define each field (i.e. IS, IT, CS). Understand the similarities and differences.
· Second, determine what jobs are available in each area.
· Third, look at the degree completion plans for each of these programs.
· Fourth, assess your own skills (e.g. Are you good in math? Do you like business? Do you like algorithms? Are you gifted at problem-solving? Do you like learning about new technology? Do you enjoy working hands-on with equipment/hardware/wires?)
· Fifth, (and most importantly) ask God what He wants you to pursue based on your talents, interests, and abilities.
· Sixth, based on your analysis above, what career do you hope to obtain after graduation, and what degree will you pursue to achieve this goal?
To facilitate your research, there are four videos in your Reading & Study folder that will help you understand the differences between the computing fields and become familiar with the job opportunities in each area. Be sure to view these videos first.
The LU Registrar’s home page has information on degree completion plans. Here is a link to all of the currently available ones in the university:
http://www.liberty.edu/academics/registrar/index.cfm?PID=2981
Be sure to look at all of the ones listed for Information Systems and Information Technology. At the time of this writing, Computer Science is only listed under residential degree plans. That does not mean that you should rule out Computer Science as a potential major. You must consider all options and listen to God’s calling upon your life. With God, all things are possible.
Discussion Board Deliverables
Main Post:
In a minimum of 300 words, create a thread in Module 1’s discussion board forum that describes the following:
1. Your desired career upon graduation
2. Why you chose this career
3. Your intended major
4. Your strengths, weaknesses, and interests
5. How the major supports your chosen career
6. How God has led you to reach your decision
7. A Bib.
CSI Paper Grading Rubric- (worth a possible 100 points) .docx
CSI Paper Grading Rubric- (worth a possible 100 points)
1. INTRODUCTION (10%): Identifies/summarizes the paper’s topic and states an informed
judgment about the topic.
1 2.5 5 7.5 10
DEVELOPING……………………………………................................................................DEVELOPED
Lacks an introduction that takes an overview and that states the
objectives of the paper. A brief statement of the crime and the
criminological theories that can help explain it is absent,
unfocused or very weak.
Begins with a strong introduction that lays out the crime and
its context, as well as theories that can help understand the
circumstances surrounding the crime. Also provides the
sequence of what follows clearly and concisely.
2. RESOURCES (10%): Evidence from scholarly sources and textual sources (minimum of 5 total
sources).
1 2.5 5 7.5 10
DEVELOPING……………………………………………………………………………….DEVELOPED
Lists evidence but doesn’t explain how it does or doesn’t support a
point. Lacks organization or transitions. Does not completely or
correctly identify sources of information through in-text citations
and a works cited reference page.
Provides appropriate and sufficient evidence, smoothly
synthesizes evidence from sources and clearly ties it to the
point being made. Logically organizes ideas. Uses
transitions to connect one idea to the next. Correctly
identifies all sources of information through in-text
citations and a works cited reference page.
3. BODY (50%): Formulates a coherent, logical, and thoughtful sociological analysis of the crime
being investiaged. Addressed all parts of the paper assignment.
10 20 30 40 50
DEVELOPING…………………….………………………………………………………...DEVELOPED
Shows little understanding of sociological concepts and theories
used to explain the crime being investigated. No discussion at all
of any complexities or nuances related to the topic. No integration
of source information.
Identifies the circumstances of the crime with necessary
detail to perform a rigorous sociological analysis of the
crime. Shows strong understanding of the sociological
concepts and theories discussed in the paper (for example,
other perspectives and confounding factors), and discusses
how the source information is relevant.
4. CONCLUSION (10%): Identifies and assesses conclusions and implications of the sociological
analysis of your crime of the semester; sums up the importance/sociological relevance of your paper.
1 2.5 5 7.5 10
DEVELOPING……………………………………………………………………………...DEVELOPED
Only restates verbatim what has already been said. Conclusion is
not related to the support in the paper or new information is
presented. Feels abrupt, unconnected, or changes the focus. Is not
persuasive.
Goes beyond summarizing your main points. Reader feels a
sense of closure in the paper and is persuaded by the
examination of your crime and use of sociological theories
to explain it. No new informati.
More Related Content
Similar to FINAL EXAM ACC400S. DuhnThe condensed financial statements.docx
Problems Problem 14-4AFinancial information for Ernie Bisho.docx
Problems:
Problem 14-4A
Financial information for Ernie Bishop Company is presented below.
ERNIE BISHOP COMPANY
Balance Sheets
December 31
Assets
2013
2012
Cash
$ 137,900
$ 128,050
Short-term investments
102,440
78,800
Receivables (net)
193,060
157,600
Inventory
246,250
265,950
Prepaid expenses
57,130
45,310
Land
256,100
256,100
Building and equipment (net)
330,960
344,750
$1,323,840
$1,276,560
Liabilities and Stockholders’ Equity
Notes payable
$197,000
197,000
Accounts payable
94,560
82,740
Accrued liabilities
86,680
78,800
Bonds payable, due 2016
295,500
295,500
Common stock, $10 par
394,000
394,000
Retained earnings
256,100
228,520
$1,323,840
$1,276,560
ERNIE BISHOP COMPANY
Income Statement
For the Years Ended December 31
2013
2012
Net sales
$1,690,260
$1,572,060
Cost of goods sold
1,203,670
1,132,750
Gross profit
486,590
439,310
Operating expenses
402,865
356,570
Net income
$ 83,725
$ 82,740
Additional information:
1.
Inventory at the beginning of 2012 was $232,460.
2.
Total assets at the beginning of 2012 were $1,245,040.
3.
No common stock transactions occurred during 2012 or 2013.
4.
All sales were on account.
5.
Receivables (net) at the beginning of 2012 were $173,360.
(a) Indicate, by using ratios, the change in liquidity and profitability of Ernie Bishop Company from 2012 to 2013. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all others to 1 decimal place, e.g. 6.8 or 6.8% .)
2012
2013
Change
LIQUIDITY
Current
:1
:1
Acid-test
:1
:1
Receivables turnover
times
times
Inventory turnover
times
times
PROFITABILITY
Profit margin
%
%
Asset turnover
times
times
Return on assets
%
%
Earnings per share
$
$
(b) Given below are three independent situations and a ratio that may be affected. For each situation, compute the affected ratio (1) as of December 31, 2013, and (2) as of December 31, 2014, after giving effect to the situation. Net income for 2014 was $98,500. Total assets on December 31, 2014, were $1,379,000.
Situation
Ratio
(1)
35,460 shares of common stock were sold at par on July 1, 2014.
Return on common stockholders’ equity
(2)
All of the notes payable were paid in 2014. The only change in liabilities was that the notes payable were paid.
Debt to total assets
(3)
Market price of common stock was $18 on December 31, 2013, and $24.63 on December 31, 2014.
Price-earnings ratio
2013
2014
Change
Return on common stockholders’ equity
%
%
Debt to total assets
%
%
Price-earnings ratio
times
times
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Problem 14-6A
The comparative statements of Beulah Company are presented below.
BEULAH COMPANY
Income Statement
For the Years Ended December 31
2014
2013
Net sales (all on account)
$501,000
...
Sheet1BUSI 320 Comprehensive Problem 1 2016 Spring BUse the follo.docx
Sheet1BUSI 320 Comprehensive Problem 1 2016 Spring BUse the following information to answer the questions below: note: all sales are credit salesIncome Stmt info:20142015Sales $ 1,000,000$ 1,050,000less Cost of Goods Sold:400,000424,000Gross Profit600,000626,000Operating Expenses350,000365,750Earnings before Interest & Taxes250,000260,250Interest exp25,00025,500earnings before Taxes225,000234,750Taxes90,00093,900Net Income$ 135,000$ 140,850Balance Sheet info:12/31/1412/31/15Cash25,000$ 30,000Accounts Receivable50,000$ 51,000Inventory125,000$ 137,500Total Current Assets$ 200,000$ 218,500Fixed Assets (Net)$ 300,000$ 315,000Total Assets$ 500,000$ 533,500Current Liabilities$ 110,000$ 117,700Long Term Liabilities$ 180,000$ 183,000Total Liabilities$ 290,000$ 300,700Stockholder's Equity$ 210,000$ 232,800Total Liab & Equity:$ 500,000$ 533,500Compute each of the following ratios for 2014 and 2015 and indicate whether each ratio was getting "better" or "worse" from 2014 to 2015 and was "good" or "bad" compared to the Industry Avg in 2015 (round all numbers to 2 digits past the decimal place)20142015Getting Better or Getting Worse?2015 Industry Avg "Good" or "Bad" compared to Industry AvgProfit Margin0.11Current Ratio1.90Quick Ratio0.66Return on Assets.28Debt to Assets.50Receivables turnover18.00Avg. collection period*21.20Inventory Turnover**8.25Return on Equity0.55Times Interest Earned11.15*Assume a 360 day year**Inventory Turnover can be computed 2 different ways. Use the formula listed in the text (the one the text indicates many credit reporting agencies generally use)
Sheet2
Sheet3
BUSI 320 Comprehensive Problem 1
Use the following information to answer the questions below:
note: all sales are credit sales
Income Stmt info:
2013
2014
Sales
$ 1,050,000
$ 1,128,750
less Cost of Goods Sold:
325,000
346,125
Gross Profit
725,000
782,625
Operating Expenses
575,000
609,500
Earnings before Interest & Taxes
150,000
173,125
Interest exp
25,000
29,000
earnings before Taxes
125,000
144,125
Taxes
50,000
57,650
Net Income
$ 75,000
$ 86,475
Balance Sheet info:
12/31/2013
12/31/2014
Cash
60,000
$ 66,000
Accounts Receivable
80,000
$ 83,200
Inventory
110,000
$ 119,900
Total Current Assets
$ 250,000
$ 269,100
Fixed Assets (Net)
$ 300,000
$ 318,000
Total Assets
$ 550,000
$ 587,100
Current Liabilities
$ 130,000
$ 136,500
Long Term Liabilities
$ 150,000
$ 170,000
Total.
MGT101 - Financial Accounting- Lecture 40
Virtual University
Course MGT101 - Financial Accounting
Lecture No 40
Instructor's Name: Mr. Mujahid Eshai
Course Email: mgt101@vu.edu.pk
A COM Balance Sheets As of December 31 2015 2014 Assets Current asset.pdf
A COM Balance Sheets As of December 31 2015 2014 Assets Current assets Cash Marketable
securities Accounts receivable (net) Inventories Prepaid items $ 20,000 20,800 49,000 134,000
28,000 16,000 6,800 41,000 142,000 13,000 Total current assets Investments Plant (net) Land
251,800 32,000 295,000 29,000 218,800 25,000 280,000 24,000 Total assets $607,800 $547,800
Liabilities and Stockholders\' Equity Liabilities Current liabilities Notes payable Accounts
payable Salaries payable $ 31,600 $ 17,700 100,000 17,000 113,800 23,000 Total current
liabilities 168,400 134,700 Noncurrent liabilities Bonds payable Other 120,000 120,000 32,000
152,000 320,400 27,000 147,000 281,700 Total noncurrent liabilities Total liabilities
Stockholders\' equity Preferred stock, (par value $10, 4% cumulative non-participating; 8,000
shares authorized and issued) 80,000 80,000 Common stock (No par; 50,000 shares authorized;
80,000 127,400 10,000 shares issued) 80,000 106,100 266,100 $607,800 $547,800 Retained
earnings Total stockholders\' equity 287,400 Total liabilities and stockholders\' equity
Solution
SOLUTION
1. Working Capital = Current assets - Current Liabilities
2014 -
Working capital = $218,800 - $134,700 = $84,100
2015-
Working capital = $251,800 - $168,400 = $83,400
2. Current Ratio = Current assets / Current liabilities
2014 -
Current ratio = $218,800 / $134,700 = 1.62
2015-
Current ratio = $251,800 / $168,400 = 1.50
3. Quick ratio = (Current assets - Inventories) / Current liabilities
2014 -
Quick ratio = ($218,800 - $142,000) / $134,700 = 0.57
2015-
Quick ratio = ($251,800 - $134,000) / $168,400 = 0.70
4. Receivable turnover = Net credit sales / Average accounts receivable
2014-
Average accounts receivable = (Beginning accounts receivable + Ending accounts receivable) / 2
= ($42,000 + $41,000) / 2 = $41,500
Receivable turnover = $290,000 / $41,500 = 6.99
2015-
Average accounts receivable = (Beginning accounts receivable + Ending accounts receivable) / 2
= ($41,000 + $49,000) / 2 = $45,000
Receivable turnover = $310,000 / $45,000 = 6.89.
BUSI 320 Comprehensive Problem 1 Version FALL BUse the followin.docx
BUSI 320 Comprehensive Problem 1 Version FALL B
Use the following information to answer the questions below:
note: all sales are credit sales
Income Stmt info:
2014
2015
Sales
$ 1,050,000
$ 1,128,750
less Cost of Goods Sold:
325,000
346,125
Gross Profit
725,000
782,625
Operating Expenses
575,000
609,500
Earnings before Interest & Taxes
150,000
173,125
Interest exp
25,000
29,000
earnings before Taxes
125,000
144,125
Taxes
50,000
57,650
Net Income
$ 75,000
$ 86,475
Balance Sheet info:
12/31/2014
12/31/2015
Cash
60,000
$ 66,000
Accounts Receivable
80,000
$ 83,200
Inventory
110,000
$ 119,900
Total Current Assets
$ 250,000
$ 269,100
Fixed Assets (Net)
$ 300,000
$ 318,000
Total Assets
$ 550,000
$ 587,100
Current Liabilities
$ 130,000
$ 136,500
Long Term Liabilities
$ 150,000
$ 170,000
Total Liabilities
$ 280,000
$ 306,500
Stockholder's Equity
$ 270,000
$ 280,600
Total Liab & Equity:
$ 550,000
$ 587,100
Compute each of the following ratios for 2014 and 2015 and
indicate whether each ratio was getting "better" or "worse" from 2014 to 2015
and whether the 2015 ratio was "good" or "bad" compared to the Industry Avg.
(round all numbers to 2 digits past the decimal place)
2014
2015
Getting Better or Getting Worse?
2015 Industry Avg
"Good" or "Bad" compared to Industry Avg
Profit Margin
0.11
Current Ratio
1.90
Quick Ratio
1.12
Return on Assets
.26
Debt to Assets
.55
Receivables turnover
18.00
Avg. collection period*
21.20
Inventory Turnover**
8.25
Return on Equity
0.25
Times Interest Earned
8.15
*Assume a 360 day year
**Inventory Turnover can be computed 2 different ways. Use the formula listed in the text
(the one the text indicates many credit reporting agencies generally use)
...
Calculating EFN The most recent financial statements for Moose Tours.pdf
Calculating EFN The most recent financial statements for Moose Tours, Inc., appear below.
Sales for 2012 are projected to grow by 20 percent. Interest expense will remain constant; the tax
rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets,
fixed assets, and accounts payable increase spontaneously with sales. MOOSE TOURS, INC.
2011 Income Statement Sales $ 836,100 Costs 650,700 Other expenses 17,100 Earnings before
interest and taxes $ 168,300 Interest expense 12,600 Taxable income $ 155,700 Taxes 54,495
Net income $ 101,205 Dividends $ 30,300 Addition to retained earnings 70,905 MOOSE
TOURS, INC. Balance Sheet as of December 31, 2011 Assets Liabilities and Owners’ Equity
Current assets Current liabilities Cash $ 24,035 Accounts payable $ 64,600 Accounts receivable
38,665 Notes payable 16,150 Inventory 82,555 Total $ 80,750 Total $ 145,255 Long-term debt $
150,000 Fixed assets Owners’ equity Net plant and equipment $ 392,350 Common stock and
paid-in surplus $ 130,000 Retained earnings 176,855 Total $ 306,855 Total assets $ 537,605
Total liabilities and owners’ equity $ 537,605 If the firm is operating at full capacity and no new
debt or equity is issued, what external financing is needed to support the 20 percent growth rate
in sales?
Solution
EFN = Total assets – Total liabilities and equity
Proforma Income Statement
Projected
Particulars
Amount
%
Particulars
Amount
Sales
836,100
100.00
Sales
1,003,320
Less : Costs
650,700
77.83
Less : Costs
780,840
Other Expenses
17,100
2.05
Other Expenses
20,520
EBIT
168,300
20.13
EBIT
201,960
Interest
12,600
Interest
12,600
Taxable Income
155,700
Taxable Income
189,360
Taxes
54,495
35.00
Taxes
66,276
Net Income
101,205
Net Income
123,084
Dividends
30,300
29.94
Dividends
36,850
Additon to retain earnings
70,905
Additon to retain earnings
86,234
Balance Sheet
Assets
Amount
%
Liabilities and Owners’ Equity
Amount
%
Current assets
Current liabilities
Cash
24,035
Accounts Payable
64,600
Accounts Receivable
38,665
Notes Payable
16,150
Inventory
82,555
80,750
15.02
145,255
37.02
Fixed assets :
Long Term Debt
150,000
Net plant and equipment
392,350
72.98
Owners’ equity
Common stock and paid-in surplus
130,000
Retained earnings
176,855
306,855
537,605
100.00
537,605
Balance Sheet(Projected)
Assets
Amount
%
Liabilities and Owners’ Equity
Amount
%
Current assets
Current liabilities
Cash
28,842
Accounts Payable
77,520
Accounts Receivable
46,398
Notes Payable
19,380
Inventory
99,066
96,900
15.141
174,306
37.02
Fixed assets :
Long Term Debt
150,000
Net plant and equipment
470,820
72.98
Owners’ equity
Common stock and paid-in surplus
130,000
Retained earnings(176,855+86,234)
263,089
393,089
645,126
100.00
639,989
EFN
5,137
Proforma Income Statement
Projected
Particulars
Amount
%
Particulars
Amount
Sales
836,100
100.00
Sales
1,003,320
Less : Costs
650,700
77.83
Less : Costs
780,840
Other Expenses
17,100
2.05
Other Expenses
20,520
EBIT
168,300
20.13
EBIT
201,960
Interest
12,.
In.docx
Income Statement
Balance Sheet
Next Year
This Year
Next Year
Revenue
$5,000
Total assets
$1,000
$2,000
Operating expenses
4,000
Liabilities & equity:
EBIT
1,000
Current liabilities
$ 576
$ 200
Interest (8%)
?
Long-term debt
100
?
EBT
?
Equity
324
?
Taxes(40%)
?
Earnings after tax
?
Total liabilities
& equity
$1,000
$2,000
The firm pays 8% interest on all of its debt and is subject to a 40% tax rate. Complete the plan.
1. Emperor Corporation's financial statements for the last year are shown below. The firm paid a $1,000 dividend to its stockholders during the year. There were no sales of new stock.
Balance Sheets
ASSETS
Ending
Beginning
Income Statement
Cash
$ 2,000
$ 1,600
Sales
$100,000
Accounts receivable
12,000
5,200
COGS
80,000
Inventory
14,000
15,600
Gross Margin
$ 20,000
Current Assets
$28,000
$22,400
Cash Expenses
$ 8,000
Gross Fixed assets
$27,000
$20,000
Depreciation
1,600
Accumulated depreciation
(16,000
)
(14,400
)
EBIT
$ 10,400
Net fixed assets
11,000
5,600
Interest
800
Total assets
$39,000
$28,000
EBT
$ 9,600
LIABILITIES
Tax
2,600
Accounts payable
$ 3,000
$ 2,500
Net Income
$ 7,000
Accruals
1,000
1,500
Current Liabilities
$ 4,000
$ 4,000
Long term Debt
10,000
5,000
Equity
25,000
19,000
Total liabilities & equity
$39,000
$28,000
Develop Emperor's Statement of Cash Flows.
.
Acct 550 week 2 homework assignment
devry acct 550 week 2 homework assignment,devry acct 550 week 2,devry acct 550,devry acct 550 week 2 tutorial,devry acct 550 week 2 assignment,devry acct 550 week 2 help
Financial Ratios1.Liquidity ratios. Edison, Stagg,.docx
Financial Ratios
1.
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
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?
2.
Computation and evaluation of activity ratios
.
The following data relate to Alaska Products, Inc:
19X5
19X4
Net credit sales
$832,000
$760,000
Cost of goods sold
440,000
350,000
Cash, Dec. 31
125,000
110,000
Average Accounts receivable
180,000
140,000
Average Inventory
70,000
50,000
Accounts payable, Dec. 31
115,000
108,000
Compute the accounts receivable and inventory turnover ratios for 19X5. Alaska rounds all calculations to two decimal places.
3.
Profitability ratios, trading on the equity
.
Digital Relay has both preferred and common stock outstanding. The company reported the following information for 19X7:
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
Compute the gross profit margin ratio, the return on equity and the return on assets, rounding calculations to two decimal places.
Does the firm have positive or negative financial leverage? Briefly explain.
4.
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
Prepare a horizontal analysis for 20X1 and 20X2. Briefly comment on the results of your work.
5.
Vertical analysis
. Mary Lynn Corporation has been operating for several years. Selected data from the 20X1 and 20X2 financial statements follow.
20X2
20X1
Current Asse.
Exercise 12-1Putnam Corporation had these transactions during 20.docx
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
$
...
Ch02 P14 Build a Model Spring 1, 201372212Chapter 2. Ch 02 P14.docx
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 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. ...
Exercise 5-5Uhura Company has decided to expand its operations. Th.pdf
Exercise 5-5
Uhura Company has decided to expand its operations. The bookkeeper recently completed the
balance sheet presented below in order to obtain additional funds for expansion.
UHURA COMPANY
BALANCE SHEET
FOR THE YEAR ENDED 2014
Current assets
Cash $230,000
Accounts receivable (net) 340,000
Inventory (lower-of-average-cost-or-market) 401,000
Equity investments (trading)-at cost (fair value $120,000) 140,000
Property, plant, and equipment
Buildings (net) 570,000
Equipment (net) 160,000
Land held for future use 175,000
Intangible assets
Goodwill 80,000
Cash surrender value of life insurance 90,000
Prepaid expenses 12,000
Current liabilities
Accounts payable 135,000
Notes payable (due next year) 125,000
Pension obligation 82,000
Rent payable 49,000
Premium on bonds payable 53,000
Long-term liabilities
Bonds payable 500,000
Stockholders’ equity
Common stock, $1.00 par, authorized 400,000 shares, issued 290,000 290,000
Additional paid-in capital 160,000
Retained earnings ?
Prepare a revised balance sheet given the available information. Assume that the accumulated
depreciation balance for the buildings is $160,000 and for the equipment, $105,000. The
allowance for doubtful accounts has a balance of $17,000. The pension obligation is considered a
long-term liability. (List Current Assets in order of liquidity. List Property, Plant and Equipment
in order of Buildings and Equipment. Enter account name only and do not provide the
descriptive information provided in the question.)
Uhura Company
Balance Sheet
December 31, 2014
Assets
$
$
:
$
$
:
:
$
Liabilities and Stockholders\' Equity
$
$
$
:
$
Solution
The revised balance sheet is as below
Heads
Amount
Amount
Current assets:
Cash
$230,000
Accounts receivable (Gross) (340,000 + 17,000 =)
$357,000
Less: Allowance for doubtful accounts
$17,000
$340,000
Inventory
$401,000
Equity investments
$140,000
Total current assets (a)
1,111,000
Property, plant, and equipment:
Building (Gross) (570,000 + 160,000 =)
$730,000
Less: Accumulated depreciation
$160,000
$570,000
Equipment (Gross) (160,000 + 105,000 =)
$265,000
Less: Accumulated depreciation
$105,000
$160,000
Land
$175,000
Goodwill
$80,000
Cash surrender value
$90,000
Prepaid expenses
$12,000
Total property, plant, and equipment (b)
$1,087,000
Total assets (a + b)
$2,198,000
Current liabilities:
Accounts payable
$135,000
Notes payable
$125,000
Rent payable
$49,000
Premium on bonds payable
$53,000
Total current liabilities (c)
$362,000
Long-term liabilities:
Pension obligation
$82,000
Bonds payable
$500,000
Total long-term liabilities (d)
$582,000
Stockholders’ equity:
Common stock
$290,000
Additional paid-in capital
$160,000
Retained earnings {(a + b) – c – d – common stock – additional paid-in capital}
$804,000
Total stockholders’ equity (e)
$1,254,000
Total liabilities and stockholders’ equity (c + d + e)
$2,198,000
Heads
Amount
Amount
Current assets:
Cash
$230,000
Accounts receivable (Gross) (340,000 + 17,000 =)
$357,000
Less: Allowance for doubtf.
Ruth & AssociatesIncome StatementFor the Year Ended December 31,.pdf
Ruth & Associates
Income Statement
For the Year Ended December 31, 2010
Revenue
Consulting Revenue
100000
Interest Revenue
4000
Total Revenue
104000
Expenses
Salary Expense
47000
Interest Expense
5000
Total Expenses
52000
Net Income
52000
Ruth & Associates
Statement of Changes in Stockholders’ Equity
For the Year Ended December 31, 2010
Beginning Common Stock
25000
Plus: Common Stock Issued
15000
Ending Common Stock
40000
Beginning Retained Earnings
18000
Plus: Net Income
52000
Less: Dividends
10000
Ending Retained Earnings
60000
Total Stockholders’ Equity
100000
Ruth & Associates
Balance Sheet
As of the December 31, 2010
Assets
Cash
52000
Accounts Receivable
26000
Supplies
3000
Prepaid Rent
5000
Land
63000
Total Assets
149000
Liabilities
Interest Payable
2000
Salaries Payable
7000
Unearned Revenue
8000
Notes Payable
32000
Total Liabilities
49000
Stockholders’ Equity
Common Stock
40000
Retained Earnings
60000
Total Stockholders’ Equity
100000
Total Liab. and Stockholders’ Equity
149000
Ruth & Associates
Statement of Cash Flows
For the Year Ended December 31, 2010
Cash Flow From Operating Activities
52000
Cash Flow From Investing Activities
-30000
Cash Flow From Financing Activities
20000
Net Change in Cash Plus:
42000
Beginning Cash Balance
10000
Ending Cash Balance
52000
Ending Cash Balance
52000
Net Change in Cash
42000
= Beginning Cash Balance
10000
Ruth & Associates
Income Statement
For the Year Ended December 31, 2010
Revenue
Consulting Revenue
100000
Interest Revenue
4000
Total Revenue
104000
Expenses
Salary Expense
47000
Interest Expense
5000
Total Expenses
52000
Net Income
52000
Ruth & Associates
Statement of Changes in Stockholders’ Equity
For the Year Ended December 31, 2010
Beginning Common Stock
25000
Plus: Common Stock Issued
15000
Ending Common Stock
40000
Beginning Retained Earnings
18000
Plus: Net Income
52000
Less: Dividends
10000
Ending Retained Earnings
60000
Total Stockholders’ Equity
100000
Ruth & Associates
Balance Sheet
As of the December 31, 2010
Assets
Cash
52000
Accounts Receivable
26000
Supplies
3000
Prepaid Rent
5000
Land
63000
Total Assets
149000
Liabilities
Interest Payable
2000
Salaries Payable
7000
Unearned Revenue
8000
Notes Payable
32000
Total Liabilities
49000
Stockholders’ Equity
Common Stock
40000
Retained Earnings
60000
Total Stockholders’ Equity
100000
Total Liab. and Stockholders’ Equity
149000
Ruth & Associates
Statement of Cash Flows
For the Year Ended December 31, 2010
Cash Flow From Operating Activities
52000
Cash Flow From Investing Activities
-30000
Cash Flow From Financing Activities
20000
Net Change in Cash Plus:
42000
Beginning Cash Balance
10000
Ending Cash Balance
52000
Ending Cash Balance
52000
Net Change in Cash
42000
= Beginning Cash Balance
10000
Solution
Ruth & Associates
Income Statement
For the Year Ended December 31, 2010
Revenue
Consulting Revenue
100000
Interest Revenue
4000
Total Revenue
104000
Expenses
Salary Expense
47000
Interest Expense
5000
Total Expenses
52000
Net Income
5200.
Problem 8 The trial balance of Hunter Inc. included the following acc.pdf
please help me with 11-3 to 11-5
your help is greatly appreciated
thanks
Solution
As per policy, only one question is allowed to answer at a time, so answering 11-3 :E 11 -3)
(a)DateAccounts TitlesDebit $Credit $10-JanCash350000Common Stock350000.(being issue of
shares at $5 per share)1-JulCash280000Common Stock200000.Paid in capital in excess of par-
CS80000(being issue of shares at $5 per sharewith additional capital of $2 per share)E 11 -3)
(b)DateAccounts TitlesDebit $Credit $10-JanCash350000Common Stock70000.Paid in capital in
excess of stated value-CS280000(being issue of shares at $1 stated value)1-
JulCash280000Common Stock40000.Paid in capital in excess of stated value-CS240000(being
issue of shares at $1 stated value).
Similar to FINAL EXAM ACC400S. DuhnThe condensed financial statements.docx (19)
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Financial accounting mgt101 power point slides lecture 40
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BUSI 320 Comprehensive Problem 1 Version FALL BUse the followin.docx
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Calculating EFN The most recent financial statements for Moose Tours.pdf
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Financial Ratios1.Liquidity ratios. Edison, Stagg,.docx
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Exercise 12-1Putnam Corporation had these transactions during 20.docx
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Ch02 P14 Build a Model Spring 1, 201372212Chapter 2. Ch 02 P14.docx
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Exercise 5-5Uhura Company has decided to expand its operations. Th.pdf
Exercise 5-5Uhura Company has decided to expand its operations. Th.pdf
Ruth & AssociatesIncome StatementFor the Year Ended December 31,.pdf
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Problem 8 The trial balance of Hunter Inc. included the following acc.pdf
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CSIA 413 Cybersecurity Policy, Plans, and Programs.docx
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June 2, 2019
Executive Summary
The Red Clay Renovations Employee Handbook is to give general rules about its strategies. The Employee Handbook will fill in as a guide for workers to get comfortable with Red Clay Renovations strategies for "Acceptable Use Policy for Information Technology", "Bring Your Own Device Policy " and "Digital Media Sanitization, Reuse, and Destruction Policy". Red Clay Renovations maintains whatever authority is needed to adjust the Employee Handbook to best suit the organization whenever with no earlier warning to its representatives.
Red Clay Renovations "Acceptable Use Policy for Information Technology" will characterize in subtleties what Acceptable Use is and what it's most certainly not. Every Employee will get his/her duty of the framework accounts, processing resources, organize utilization and will sign and consent to the approach before access is conceded to the system.
Red Clay Renovations "Bring Your Own Device Policy or BYOD" will name every one of the gadgets that are satisfactory as BYOD and the administration of the use of such gadgets. Every worker's gadgets must satisfy the arrangement guideline before actualizing the gadgets into Red Clay Renovation Company.
Red Clay Renovations "Digital Media Sanitization, Reuse, and Destruction Policy" will ensure that any worker of Red Clay Renovation who marked for the BYOD approach has/should sign this arrangement also. Workers need to comprehend the techniques the organization will use to clean off the BYOD.
Acceptable Use Policy
Introduction
This Acceptable Use Policy is for all Red Clay Renovation workers and supplants every single past version. All workers are liable to the terms and states of the Policy. The approach will build up satisfactory and inadmissible utilization of defending the security of information, secure and ensure PC and PCs, the use of system condition and servers, the utilization of electronic correspondences. Additionally Red Clay Renovation gathers, keeps up, and stores individual data to incorporate Mastercard’s, credit checks, building plans and illustrations, customers restorative and wellbeing information.
Red Clay Renovation must be in consistence with the accompanying: HIPPA Privacy and Security Rule, Freedom of Information Act (FOIA), PCI DSS, Privacy Act of 1977, Building Codes and Regulations. It is to the greatest advantage of the organization for all workers to comprehend the Acceptable Use Policy to settle on trustworthy choices before participating in inadmissible utilization of the approach. Any offense with the Acceptable Use Policy could conceivably cause Red Clay Renovation considerable loss of its business and its notorieties. On the off chance that any worker needs more data with this arrangement, they can reach out to the IT department directly.
Policy Content
Utilization of IT Systems
Red Clay Renovation possesses the property rights to all informati.
CSIS 100CSIS 100 - Discussion Board Topic #1One of the object.docx
CSIS 100
CSIS 100 - Discussion Board Topic #1:
One of the objectives of this course is to enable students to differentiate between the disciplines of Information Systems, Information Technology, and Computer Science. Oftentimes, these areas overlap and are difficult to distinguish – even among professionals within the industries.
There are some distinctions that become evident, but all too frequently, people do not understand these distinctions until they are already deep within their programs of study. Consequently, many decide that it is too late to pursue a different avenue in the computing world without losing valuable time and money spent on courses that may or may not apply to a different major.
Given the importance of achieving effective planning from the beginning, your first assignment in this course is to delve into the broad areas of Information Systems, Information Technology, and Computer Science and write about your career choice in a discussion board post. This should be your thought process:
· First, define each field (i.e. IS, IT, CS). Understand the similarities and differences.
· Second, determine what jobs are available in each area.
· Third, look at the degree completion plans for each of these programs.
· Fourth, assess your own skills (e.g. Are you good in math? Do you like business? Do you like algorithms? Are you gifted at problem-solving? Do you like learning about new technology? Do you enjoy working hands-on with equipment/hardware/wires?)
· Fifth, (and most importantly) ask God what He wants you to pursue based on your talents, interests, and abilities.
· Sixth, based on your analysis above, what career do you hope to obtain after graduation, and what degree will you pursue to achieve this goal?
To facilitate your research, there are four videos in your Reading & Study folder that will help you understand the differences between the computing fields and become familiar with the job opportunities in each area. Be sure to view these videos first.
The LU Registrar’s home page has information on degree completion plans. Here is a link to all of the currently available ones in the university:
http://www.liberty.edu/academics/registrar/index.cfm?PID=2981
Be sure to look at all of the ones listed for Information Systems and Information Technology. At the time of this writing, Computer Science is only listed under residential degree plans. That does not mean that you should rule out Computer Science as a potential major. You must consider all options and listen to God’s calling upon your life. With God, all things are possible.
Discussion Board Deliverables
Main Post:
In a minimum of 300 words, create a thread in Module 1’s discussion board forum that describes the following:
1. Your desired career upon graduation
2. Why you chose this career
3. Your intended major
4. Your strengths, weaknesses, and interests
5. How the major supports your chosen career
6. How God has led you to reach your decision
7. A Bib.
CSI Paper Grading Rubric- (worth a possible 100 points) .docx
CSI Paper Grading Rubric- (worth a possible 100 points)
1. INTRODUCTION (10%): Identifies/summarizes the paper’s topic and states an informed
judgment about the topic.
1 2.5 5 7.5 10
DEVELOPING……………………………………................................................................DEVELOPED
Lacks an introduction that takes an overview and that states the
objectives of the paper. A brief statement of the crime and the
criminological theories that can help explain it is absent,
unfocused or very weak.
Begins with a strong introduction that lays out the crime and
its context, as well as theories that can help understand the
circumstances surrounding the crime. Also provides the
sequence of what follows clearly and concisely.
2. RESOURCES (10%): Evidence from scholarly sources and textual sources (minimum of 5 total
sources).
1 2.5 5 7.5 10
DEVELOPING……………………………………………………………………………….DEVELOPED
Lists evidence but doesn’t explain how it does or doesn’t support a
point. Lacks organization or transitions. Does not completely or
correctly identify sources of information through in-text citations
and a works cited reference page.
Provides appropriate and sufficient evidence, smoothly
synthesizes evidence from sources and clearly ties it to the
point being made. Logically organizes ideas. Uses
transitions to connect one idea to the next. Correctly
identifies all sources of information through in-text
citations and a works cited reference page.
3. BODY (50%): Formulates a coherent, logical, and thoughtful sociological analysis of the crime
being investiaged. Addressed all parts of the paper assignment.
10 20 30 40 50
DEVELOPING…………………….………………………………………………………...DEVELOPED
Shows little understanding of sociological concepts and theories
used to explain the crime being investigated. No discussion at all
of any complexities or nuances related to the topic. No integration
of source information.
Identifies the circumstances of the crime with necessary
detail to perform a rigorous sociological analysis of the
crime. Shows strong understanding of the sociological
concepts and theories discussed in the paper (for example,
other perspectives and confounding factors), and discusses
how the source information is relevant.
4. CONCLUSION (10%): Identifies and assesses conclusions and implications of the sociological
analysis of your crime of the semester; sums up the importance/sociological relevance of your paper.
1 2.5 5 7.5 10
DEVELOPING……………………………………………………………………………...DEVELOPED
Only restates verbatim what has already been said. Conclusion is
not related to the support in the paper or new information is
presented. Feels abrupt, unconnected, or changes the focus. Is not
persuasive.
Goes beyond summarizing your main points. Reader feels a
sense of closure in the paper and is persuaded by the
examination of your crime and use of sociological theories
to explain it. No new informati.
CSIA 413 Cybersecurity Policy, Plans, and ProgramsProject #4 IT .docx
CSIA 413: Cybersecurity Policy, Plans, and ProgramsProject #4: IT Audit Policy and Plans Company Background & Operating Environment
Red Clay Renovations is an internationally recognized, awarding winning firm that specializes in the renovation and rehabilitation of residential buildings and dwellings. The company specializes in updating homes using “smart home” and “Internet of Things” technologies while maintaining period correct architectural characteristics. Please refer to the company profile (file posted in Week 1 > Content > CSIA 413 Red Clay Renovations Company Profile.docx) for additional background information and information about the company’s operating environment.Policy Issue & Plan of Action
The corporate board was recently briefed by the Chief Information Officer concerning the company’s IT Security Program and how this program contributes to the company’s risk management strategy. During the briefing, the CIO presented assessment reports and audit findings from IT security audits. These audits focused upon the technical infrastructure and the effectiveness and efficiency of the company’s implementation of security controls. During the discussion period, members of the corporate board asked about audits of policy compliance and assessments as to the degree that employees were (a) aware of IT security policies and (b) complying with these policies. The Chief Information Officer was tasked with providing the following items to the board before its next quarterly meeting:
(a) Issue Specific Policy requiring an annual compliance audit for IT security policies as documented in the company’s Policy System
(b) Audit Plan for assessing employee awareness of and compliance with IT security policies
a. Are employees aware of the IT security policies in the Employee Handbook?
b. Do employees know their responsibilities under those policies?
(c) Audit Plan for assessing the IT security policy system
a. Do required policies exist?
b. Have they been updated within the past year?
c. Are the policies being reviewed and approved by the appropriate oversight authorities (managers, IT governance board, etc.)?
Your Task Assignment
As a staff member supporting the CISO, you have been asked to research this issue (auditing IT security policy compliance) and then prepare an “approval draft” for a compliance policy. You must also research and draft two separate audit plans (a) employee compliance and (b) policy system audit. The audit policy should not exceed two typed pages in length so you will need to be concise in your writing and only include the most important elements for the policy. Make sure that you include a requirement for an assessment report to be provided to company management and the corporate board of directors.
· For the employee compliance assessment, you must use an interview strategy which includes 10 or more multiple choice questions that can be used to construct a web-based survey of all employees. The questions should be split.
CSI 170 Week 3 AssingmentAssignment 1 Cyber Computer CrimeAss.docx
CSI 170 Week 3 Assingment
Assignment 1: Cyber Computer Crime
Assignment 1: Cyber Computer Crime
Create a 15-slide presentation in which you:
1. Describe the responsibilities of the National Security Administration (NSA).
2. Identify the four critical needs at the state or local level of law enforcement in order to fight computer crime more effectively.
3. Explain how the U.S. Postal Service assists in the investigation and prosecution of cases involving child pornography.
4. Discuss how and why the Department of Homeland Security (DHS) consolidated so many federal offices.
5. Go to https://research.strayer.edu to locate at least three (3) quality references for this assignment. One of these must have been published within the last year.
4/15/2019 Auden, Musée des Beaux Arts
english.emory.edu/classes/paintings&poems/auden.html 1/1
Musee des Beaux Arts
W. H. Auden
About suffering they were never wrong,
The old Masters: how well they understood
Its human position: how it takes place
While someone else is eating or opening a window or just walking
dully along;
How, when the aged are reverently, passionately waiting
For the miraculous birth, there always must be
Children who did not specially want it to happen, skating
On a pond at the edge of the wood:
They never forgot
That even the dreadful martyrdom must run its course
Anyhow in a corner, some untidy spot
Where the dogs go on with their doggy life and the torturer's horse
Scratches its innocent behind on a tree.
In Breughel's Icarus, for instance: how everything turns away
Quite leisurely from the disaster; the ploughman may
Have heard the splash, the forsaken cry,
But for him it was not an important failure; the sun shone
As it had to on the white legs disappearing into the green
Water, and the expensive delicate ship that must have seen
Something amazing, a boy falling out of the sky,
Had somewhere to get to and sailed calmly on.
Pieter Brueghel, The Fall of Icarus
Oil-tempera, 29 inches x 44 inches.
Museum of Fine Arts, Brussels.
See also:
William Carlos Williams' "Landscape with the Fall of Icarus "
Return to the Poem Index
javascript:openwin('Icarus.jpg',530,330)
http://english.emory.edu/classes/paintings&poems/Williams.html
http://english.emory.edu/classes/paintings&poems/titlepage.html
1. Biographical information on Ibsen—Concluding sentence: Sub-thesis, his play and Nora.
2. Nora’s treatment by her father and Nora’s treatment by her husband Torvald.
3. Nora’s treatment by Krogstad.
4. Nora’s contrast with Christine
INTRO: Females in Conflict
Yet another voice to champion the cause of inequality of the sexes is Henrik Ibsen.
Writing at the end of the nineteenth century in Victorian Norway, his play A Doll House utilizes
the format of a playwright to convey through the use of evolving characters different political and
social messages. When analyzing A Doll House’s protagonist, Nora, her interactions with the
other characters.
CSE422 Section 002 – Computer Networking Fall 2018 Ho.docx
CSE422 Section 002 – Computer Networking
Fall 2018
Homework 2 – 50 points
Sockets (10 points)
1. For a client-server application over TCP, why must the server program be executed before the
client program?
2. For a client-server application over UDP, why may the client program be executed before the
server program?
3. The UDP server shown in the course slides needed only one socket, whereas the TCP server
needed two sockets. Why?
4. If the TCP server were to support N simultaneous connections, each from a different client host,
how may sockets would the TCP server need?
5. You are creating an event logging service that will be handling event messages from multiple
remote clients. This service can suffer delays in message delivery and even the loss of some
event messages. Would you implement this using TCP or UDP? Why?
The HTTP GET message (10 Points)
Consider the figure below, where a client is sending an HTTP GET message to a web server,
gaia.cs.umass.edu.
Suppose the client-to-server HTTP GET message is the following:
GET /kurose_ross/interactive/quotation1.htm HTTP/1.1
Host: gaia.cs.umass.edu
Accept: text/plain, text/html, image/gif, image/jpeg, audio/basic,
audio/vnf.wave, video/mp4, video/wmv, application/*, */*
Accept-Language: en-us, en-gb;q=0.5, en;q=0.1, fr, fr-ch, zh, cs
If-Modified-Since: Wed, 10 Jan 2018 13:13:03 -0800
User Agent: Mozilla/5.0 (Windows NT 6.1; WOW64) AppleWebKit/535.11 (KHTML,
like Gecko) Chrome/17.0.963.56 Safari/535.11
Answer the following questions:
1. What is the name of the file that is being retrieved in this GET message?
2. What version of HTTP is the client running?
CSE422 Section 002 – Computer Networking
Fall 2018
3. What formats of text, images, audio, and video does the client browser prefer to receive?
[Note: for this and the following questions on browser media and language preferences, you
will need to do a bit of additional reading on the Web. Here is a good place to start.]
4. What do the strings "application/*" and "*/*" signify in the Accept: header?
5. What languages is the browser indicating that it is willing to accept? [Note: you can look at
your own browser preferences to get a listing of language codes.]
6. What is the meaning of the "relative quality factor," q, associated with the various version of
English? [Note: Here is a good place to start. See also [RFC 2616].]
7. What is the client's preferred version of English? What is the browser's least preferred
version of English?
8. Does the browser sending the HTTP message prefer Swiss French over traditional French?
Explain.
9. Does the client already have a (possibly out-of-date) copy of the requested file? Explain. If
so, approximately how long ago did the client receive the file, assuming the GET request has
just been issued?
10. What is the type of client browser and the client's operating system? [Note: To answer this,
you'll need to understan.
CSCI 132 Practical Unix and Programming .docx
CSCI
132:
Practical
Unix
and
Programming
Adjunct:
Trami
Dang
Assignment
4
Fall
2018
Assignment 41
This set of exercises will strengthen your ability to write relatively simple shell scripts
using various filters. As always, your goals should be clarity, efficiency, and simplicity. It
has two parts.
1. The background context that was provided in the previous assignment is repeated here
for your convenience. A DNA string is a sequence of the letters a, c, g, and t in any
order, whose length is a multiple of three2. For example, aacgtttgtaaccagaactgt
is a DNA string of length 21. Each sequence of three consecutive letters is called a codon.
For example, in the preceding string, the codons are aac, gtt, tgt, aac, cag, aac,
and tgt.
Your task is to write a script named codonhistogram that expects a file name on the
command line. This file is supposed to be a dna textfile, which means that it contains
only a DNA string with no newline characters or white space characters of any kind; it is
a sequence of the letters a, c, g, and t of length 3n for some n. The script must count the
number of occurrences of every codon in the file, assuming the first codon starts at
position 13, and it must output the number of times each codon occurs in the file, sorted
in order of decreasing frequency. For example, if dnafile is a file containing the dna
string aacgtttgtaaccagaactgt, then the command
codonhistogram dnafile
should produce the following output:
3 aac
2 tgt
1 cag
1 gtt
because there are 3 aac codons, 2 tgt, 1 cag, and 1 gtt. Notice that frequency comes
first, then the codon name.
1
This is licensed under the Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International
License. To view a copy of this license, visit http://creativecommons.org/licenses/by-nc-sa/4.0/.
2
This is really just a simplification to make the assignment easier. In reality, it is not necessarily a
multiple of 3.
3
Tho.
CSCI 714 Software Project Planning and EstimationLec.docx
*
CSCI 714: Software Project Planning and Estimation
Lecture 4B: Work Breakdown Structure
Gursimran Singh Walia
North Dakota State University
[email protected]
*
The Work Breakdown StructureA work breakdown structure (WBS) is an outcome-oriented analysis of the work involved in a project that defines the total scope of the projectIt is a foundation document in project management because it provides the basis for planning and managing project schedules, costs, and changes
Approaches to Developing WBSsUsing guidelines: Some organizations, like the DOD, provide guidelines for preparing WBSsThe analogy approach: It often helps to review WBSs of similar projectsThe top-down approach: Start with the largest items of the project and keep breaking them downThe bottoms-up approach: Start with the detailed tasks and roll them up
Basic Principles for Creating WBSs*
1. A unit of work should appear at only one place in the WBS.
3. A WBS item is the responsibility of only one individual, even though many people may be working on it.
4. The WBS must be consistent with the way in which work is actually going to be performed; it should serve the project team first and other purposes only if practical.
5. Project team members should be involved in developing the WBS to ensure consistency and buy-in.
6. Each WBS item must be documented to ensure accurate understanding of the scope of work included and not included in that item.
7. The WBS must be a flexible tool to accommodate inevitable changes while properly maintaining control of the work content in the project according to the scope statement. *Cleland, David I. Project Management: Strategic Design and Implementation, 1994
Good WBS Design PrinciplesThe 100% RuleThe WBS defines 100% of the work of the projectAnything that isn’t defined in the WBS is outside the scope of the project.The work content on any item is the sum of what is included under that work itemUpper Levels are Planned outcomes (deliverables), not planned actionsEnds of WBS include the activities needed to create the project deliverablesMutually-exclusive elementsWork should only appear in one place in the WBSWBS must be consistent with the way the project will be performed and controlledMust be easy to update
WBS RolePartition the major project deliverables into smaller components to improve the accuracy of cost estimatesProvide a mechanism for collecting actual costsProvide a mechanism for performance measurement and control
Why create a WBS?Cost EstimatingCost BudgetingResource PlanningRisk Management PlanningActivity Definition
SchedulingScheduling forces:Quantification of discrete effortPlacement of tasks in proper relationshipTwo most common scheduling methodologiesBar Charts (aka Gantt Charts)Critical Path Method (CPM) using Precedence Diagramming Method (PDM)
Bar / Gantt Charts Defined:Analyze and specify the basic approach in executionSegment into reasonable number of activitiesEstimate the time required.
CSCI 561Research Paper Topic Proposal and Outline Instructions.docx
CSCI 561
Research Paper: Topic Proposal and Outline Instructions
The easiest approach for selecting a topic for your paper might be to review the various subject areas covered in the course readings (i.e., search the bibliographies of the textbooks). Although the chosen topic must relate directly to the general subject area of this course, you are not limited to the concepts, techniques, and technologies specifically covered in this course.
Each Topic Outline must include the following 3 items:
1. A brief (at least 3–4 bullets with 1–2 sentences per bullet) overview of the research topics of your paper – you will need to address these in the actual paper. This will be titled “Research Objectives”.
2. A list of at least 3 questions (in a numbered list) you intend your research to ask and hopefully answer. These must be questions that will require you to draw conclusions from your research. These must not be questions to answer your research objectives. This section will be titled “Questions”
3. At least 3 initial research sources, 1 of which is an academic journal or other peer reviewed source. These should match APA formatting of sources.
Example formats for Topic Outlines (an example, not a template):
Research Objectives
· Briefly describe the overall concept of system integration.
· Discuss the traditional approach of big-bang integration including the major advantages and disadvantages of this approach.
· Discuss the traditional approaches of top-down and bottom-up integration and their major advantages and disadvantages.
· Discuss the traditional approach of mixed integration, combining the desirable advantages from the top-down and bottom-up integration approaches.
Questions
1. Why is system integration an important step in the software development process?
2. Why has big-bang integration not survived as a useful testing method?
3. Why have top-down and bottom-up integration not been replaced by more modern methods?
4. Why would you use mixed integration all the time rather than sometimes using top-down and bottom-up integration exclusively?
References
1. Herath, T. , & Rao, H. (2012). Encouraging information security behaviors in the best organizations: Role of penalties, pressures, and potential effectiveness. Descision Support Systems, 47(2), 154-165.
2. Testing Computer Software, 2nd Edition, by Cem Kaner
3. Anderson, R. (2008). Security Engineering: A Guide to Building Dependable Distributed Systems (2nd ed.). Cambridge, MA: Wiley.
During your research, if any substantial changes to your objective(s) are necessary, or a topic change is required, communicate with your instructor via email.
The Policy Research Paper: Topic Proposal and Outline is due by 11:59 p.m. (ET) on Sunday of Module/Week 2.
The Technology Research Paper: Topic Proposal and Outline is due by 11:59 p.m. (ET) on Sunday of Module/Week 5.
Quantitative Reasoning 2 Project
Shawn Cyr
MTH/216
01/16/2019
Mr. Kim
Running head: QUANTITATIVE REASONING 2 PROJEC.
CSCI 561 DB Standardized Rubric50 PointsCriteriaLevels of .docx
CSCI 561 DB Standardized Rubric
50 Points
Criteria
Levels of Achievement
Content
Advanced
Proficient
Developing
Not present
Thread (19 pts.)
Student effectively answers the questions with supporting material from the week’s reading with thoughtful analysis. Christian worldview integration found, supported by scripture.
19 to 17 points*
Student’s post effectively answers both questions in the discussion board by thoroughly analyzing material presented by the course readings (internal sources) as well as other academically approved sources (external). Post shows a thorough interaction with material in a thought-provoking manner to encourage class interaction.
16 points*
Student’s post effectively answers the key points of both questions in the discussion board. Post reveals interaction with course readings (internal) sources or other academically approved (external) sources. Post shows proficient interaction with material in logical manner so as to encourage class interaction.
15 to 1 points*
Student’s post answers all or most of the key points of both questions in the discussion board. Post reveals interaction with some course (internal) sources or other (external) sources. Post shows moderate interaction with material in logical manner which may or may not promote class interaction.
0 points
No post was made for this thread.
Reply 1 (8 pts)
Student commentary adds value to the ongoing conversation, supports thoughts with academic material. Christian worldview integration found, supported by scripture.
8 points*
Student’s reply adds notable depth to the ongoing conversation and encourages collaborative discussion among peers in a thought-provoking way. Student supports their thoughts with both course readings (internal sources) and other academically approved sources (external). Biblical integration found.
7 points*
Student’s reply adds some depth to the ongoing conversation and encourages collaborative discussion among peers in a proficient way. Student supports their thoughts with either course readings (internal sources) or other academically approved sources (external). Biblical integration found.
6 to 1 points*
Student’s reply adds minimal depth to the ongoing conversation among peers in a thought-provoking way. Student supports their thoughts with either course readings (internal sources) or other sources (external). Biblical integration may or may not be found.
0 points
No initial reply was made for this thread.
Reply 2 (8 pts)
Student commentary adds value to the ongoing conversation, supports thoughts with academic material. Christian worldview integration found, supported by scripture.
8 points*
Student’s reply adds notable depth to the ongoing conversation and encourages collaborative discussion among peers in a thought-provoking way. Student supports their thoughts with course readings (internal sources) or other academically approved sources (external). Biblical integration found.
7 points*
Student’s reply adds some depth to the .
CryptographyLesson 10© Copyright 2012-2013 (ISC)², Inc. Al.docx
Cryptography
Lesson 10
© Copyright 2012-2013 (ISC)², Inc. All Rights Reserved.
For Personal Use of (ISC)2 Seminar Attendee Only.
Contents May Not Be Copied or Otherwise Distributed Under Any Circumstances
© (ISC)2 ® 2010, All Rights Reserved
For Personal Use of (ISC)2 Seminar Attendee Only
Contents May Not Be Copied or Otherwise Distributed Under Any Circumstances
CISSP-ISSEP® Bootcamp Seminar v10
Technical Management
Public Key Infrastructure
Chapter 7
© Copyright 2012-2013 (ISC)², Inc. All Rights Reserved.
For Personal Use of (ISC)2 Seminar Attendee Only.
Contents May Not Be Copied or Otherwise Distributed Under Any Circumstances
2
Key Management
© Copyright 2012-2013 (ISC)², Inc. All Rights Reserved.
For Personal Use of (ISC)2 Seminar Attendee Only.
Contents May Not Be Copied or Otherwise Distributed Under Any Circumstances
3
2
Usage Control
5
6
7
Storage
Recovery
Escrow
8
Zeroization
1
3
Creation
Change and Expiry
4
Distribution
Creation
Automated key generation
Truly random
Suitable length
Key encrypting keys
© Copyright 2012-2013 (ISC)², Inc. All Rights Reserved.
For Personal Use of (ISC)2 Seminar Attendee Only.
Contents May Not Be Copied or Otherwise Distributed Under Any Circumstances
4
Key Usage Control
Management has a vested interest in what activities or content may be hidden in cryptographically protected communications or files
They may create a policy that allows management to audit or decrypt encrypted data at their discretion
© Copyright 2012-2013 (ISC)², Inc. All Rights Reserved.
For Personal Use of (ISC)2 Seminar Attendee Only.
Contents May Not Be Copied or Otherwise Distributed Under Any Circumstances
5
Key Change and Expiry
In any environment, plans should be made to update keys periodically
Generating symmetric keys is easy, but delivering them is expensive since you will be delivering [N*(N-1)]/2 keys to N users
Expiry
Expiry ensures that a key is never overused
Expiry based upon:
Amount of traffic
Amount of traffic over time
Time-in-use
© Copyright 2012-2013 (ISC)², Inc. All Rights Reserved.
For Personal Use of (ISC)2 Seminar Attendee Only.
Contents May Not Be Copied or Otherwise Distributed Under Any Circumstances
6
Distribution
Out of band
Public key encryption
Secret key construction
Secret key delivery
Key Distribution Centers (KDC)
Certificates
© Copyright 2012-2013 (ISC)², Inc. All Rights Reserved.
For Personal Use of (ISC)2 Seminar Attendee Only.
Contents May Not Be Copied or Otherwise Distributed Under Any Circumstances
7
Storage
Trusted hardware
Smartcards
© Copyright 2012-2013 (ISC)², Inc. All Rights Reserved.
For Personal Use of (ISC)2 Seminar Attendee Only.
Contents May Not Be Copied or Otherwise Distributed Under Any Circumstances
8
Recovery
Split knowledge
Multi-party key recovery (MPR)
© Copyright 2012-2013 (ISC)², Inc. All Rights Reserved.
For Personal Use of (ISC)2 Seminar Attendee Only.
Contents May Not Be Copied or Otherwise.
CSCI 352 - Digital Forensics Assignment #1 Spring 2020 .docx
CSCI 352 - Digital Forensics
Assignment #1
Spring 2020
Due Date: Tuesday, February 25, 2020
Total Points: 100
You are going to write a Python program that represents a command line version of a hexadecimal editor.
This program will be similar to the Linux built-in command line hexadecimal editors such as xxd and
hexdump.
The program will first ask the user to enter the name of any file you want to read. Your program will then
print the binary contents of the file into the standard output (screen). The output will be divided into three
main sections: the offset values in decimal, sixteen space-separated hexadecimal bytes, followed by the
same sixteen bytes but in ASCII value. The figure below shows an example of the first 48 bytes of an
output, and the three different sections:
Notice that in the 2nd section there a space between the 8th and 9th byte. Each output line represents 16 bytes.
The first column shows the decimal offset, where the first byte from the first line represents the 0th byte;
the second line starts with byte 16th and so on. The final section only shows the printable ASCII characters.
These are the ASCII characters can be printed on the screen (usually they are the characters with ASCII
values between 0x20 and 0x7EThe rest of the unprintable bytes are replaced by a period ('.'). The following
built-in Python functions will be useful in this situation: chr, hex, ord. More information about these
functions can be found here: https://docs.python.org/3/library/functions.html
What to hand in
Submit your program electronically through D2L. Please hand in the Python program (.py file or.ipynb)
offset
Hexadecimal Values
ASCII Values
https://docs.python.org/3/library/functions.html
© 2016 by Pearson Education, Inc.
*
THINK CRITICALLY, FACIONE & GITTENS
Chapter 12
Comparative Reasoning
© 2016 by Pearson Education, Inc.
© 2016 by Pearson Education, Inc.
THINK CRITICALLY, FACIONE & GITTENS
Learning OutcomesExplain comparative reasoning and how it impacts our understanding of novel situationsApply correctly the five criteria for the evaluation of comparative reasoningDescribe the uses, benefits, and risks of comparative reasoning
Learning OutcomesChapter first explains comparative reasoning and how it impacts our understanding of novel situations.It then applies correctly the five criteria for the evaluation of comparative reasoning.The chapter finally describes the uses, benefits, and risks of comparative reasoning.
*
© 2016 by Pearson Education, Inc.
THINK CRITICALLY, FACIONE & GITTENS
Chapter Opening Video
Chapter Opening VideoThe video talks about comparative reasoning.It shows the importance of identifying and evaluating the comparative reasoning and the analogies.
*
© 2016 by Pearson Education, Inc.
THINK CRITICALLY, FACIONE & GITTENS
This is Like That—Recognizing Comparative ReasoningOur minds crave patternsComparative, ideological, and emp.
CSCE 1040 Homework 2 For this assignment we are going to .docx
CSCE 1040 Homework 2
For this assignment we are going to design a system to schedule drivers and
passengers for rides in the Mean Green EagleLift system
For this we will need the following entities, plus collections for each of the
entities: Driver, Passenger and Ride.
The data for a Driver will contain at least the following:
Driver Id (6 digits)
Driver Name (20 characters each for first and last name)
Vehicle Capacity ( integer value for number of passengers)
Handicapped Capable (Boolean)
Vehicle Type (compact 2 dr, sedan 4dr, SUV, Van, other)
Driver Rating (floating point value 0-5)
Available (Boolean)
Pets allowed (Boolean)
Notes (String – could include days and hours of operation, coverage area, etc)
You may add other data needed for your implementation as well as
you will need accessor and mutator functions for the data.
The data for a Passenger will contain at least:
Name (e.g. Fred Smith)
ID number (6 digits e.g. 123456)
Payment preference (cash, credit, debit)
Handicapped (Boolean)
Default rating required (floating point)
Has pets (Boolean)
You may add other data needed for your implementation as well as
you will need accessor and mutator functions for the data.
The data for a Ride (The transaction entity) will contain at least
the following:
Ride ID (8 digit value auto assigned)
Pickup location (string)
Pickup Time (Time value)
Drop-off location (string)
Size of party (whole number)
Includes pets (Boolean)
Drop-off time (Time value – entered at completion)
Status (Active, Completed, Cancelled)
Rating by customer (floating point value)
You may add other data needed for your implementation as well as
you will need accessor and mutator functions for the data.
For the collections of each of the 3 Entity Classes identified above you
will need to include the ability to:
Add
Edit
Delete
Search/Find based on appropriate criteria
Print a list of all entries in the specific collection
Print the details for a single entity (do a find first)
Print a list of all Rides for a particular Passenger
Print a list of all Rides for a Particular Driver
Print a list of all Active (future and current) Rides, all completed rides and all
cancelled rides
for the Rides collection when you add a Ride you will need to verify that
a. the Driver selected is available during the defined time period
b. the Driver selected has number of seats sufficient for the passengers
c. The Driver has the appropriate pet policy
d. The Driver has required Handicapped capability
e. the driver has at least the minimum rating preferred by the Passenger
Note that a particular Driver could have multiple assignments
as long as they do not conflict with dates or times. For this assignment
you do not need to worry about verifying availability based on starting and
ending locations.
You will also need to provide in the Rides collection the ability to
print an assignment schedule for a particular .
CSCE509–Spring2019Assignment3updated01May19DU.docx
CSCE 509 – Spring 2019
Assignment 3 // updated 01May19
DUE: May 11, 2019 at 5 p.m.
• Two data sets available on Moodle
o {concaveData.npy, concaveTarget.npy}
o {testData.npy, testTarget.npy}
• Write TensorFlow code to perform DNN classification with three (3) classes
• Use concave*.npy for training
• Use test*.npy for test
• Data is the data matrix; Target is the labeled targets from {0, 1, 2}
• Do each of the following steps. For each step: Note the accuracy of the classification using
the test data set. Discuss the results.
1. Write TensorFlow code to perform DNN classification using default settings. Define your
own architecture with two hidden layers. Calculate the number of parameters in your
network. Do not let the number of parameters exceed the number of input samples in
concave*.npy
2. Use one or two additional layers compared to (1) but be sure that the number of
parameters do not exceed the number of input samples. Which has better accuracy
performance? Or are they about the same?
3. Write Python code to read in the data sets. Add a large constant (such as “509” or “5090”)
to each input feature. Write the data sets as files, to be read in as input sets. Repeat the
classification using the new input files with the architecture that has better performance
in (1) or (2). What is the accuracy performance for the same number of epochs? If the
accuracy performance is about the same, does it converge faster or slower or about the
same?
4. Use the given data sets as used in (1) and (2). Use either of the two architectures. Change
the tf.layers.dense() function initlialization to He initialization by using the
variance_scaling_initializer() function:
he_init = tf.contrib.layers.variance_scaling_initializer(factor=2.0)
hidden1 = tf.layers.dense(X, n_hidden1, activation=tf.nn.relu,
kernel_initializer=he_init, name=”hidden1”)
# do the same for other hidden layers
What is the accuracy performance? Compare to either (1) or (2).
5. Take the architecture from either (1) or (2). Replace the relu activation function by the
exponential linear unit (ELU). In the tf.layers.dense function, use
activation=tf.nn.elu
What is the accuracy performance? Compare to either (1) or (2) and to (4).
6. Perform batch normalization on either (1) or (2) as follows. We want to zero-center and
normalize the inputs to the activation function of each layer by learning the mean and
scales of the inputs for each layer. Modify the Python code as follows:
X = tf.placeholder(tf.float32, shape=(None, n_inputs), name=”X”)
training = tf.placeholder_with_default(False, shape=(), name=”training”)
Then in defining the hidden layers:
hidden1 = tf.layers.dense(X, n_hidden1, name=”hidden1”)
batchnorm1 = tf.layers.batch_normalization(hidden1, training=training,
momentum=0.9)
bn1_act = tf.nn.elu(batchnorm1)
hidden2 = tf.layers.dense(bn1_act, n_hidden2, name=”hidden2”)
batchnorm2 = tf.layers.batch_normalization.
CSCI 2033 Elementary Computational Linear Algebra(Spring 20.docx
CSCI 2033: Elementary Computational Linear Algebra
(Spring 2020)
Assignment 1 (100 points)
Due date: February 21st, 2019 11:59pm
In this assignment, you will implement Matlab functions to perform row
operations, compute the RREF of a matrix, and use it to solve a real-world
problem that involves linear algebra, namely GPS localization.
For each function that you are asked to implement, you will need to complete
the corresponding .m file with the same name that is already provided to you in
the zip file. In the end, you will zip up all your complete .m files and upload the
zip file to the assignment submission page on Gradescope.
In this and future assignments, you may not use any of Matlab’s built-in
linear algebra functionality like rref, inv, or the linear solve function A\b,
except where explicitly permitted. However, you may use the high-level array
manipulation syntax like A(i,:) and [A,B]. See “Accessing Multiple Elements”
and “Concatenating Matrices” in the Matlab documentation for more informa-
tion. However, you are allowed to call a function you have implemented in this
assignment to use in the implementation of other functions for this assignment.
Note on plagiarism A submission with any indication of plagiarism will be
directly reported to University. Copying others’ solutions or letting another
person copy your solutions will be penalized equally. Protect your code!
1 Submission Guidelines
You will submit a zip file that contains the following .m files to Gradescope.
Your filename must be in this format: Firstname Lastname ID hw1 sol.zip
(please replace the name and ID accordingly). Failing to do so may result in
points lost.
• interchange.m
• scaling.m
• replacement.m
• my_rref.m
• gps2d.m
• gps3d.m
• solve.m
1
Ricardo
Ricardo
Ricardo
Ricardo
�
The code should be stand-alone. No credit will be given if the function does not
comply with the expected input and output.
Late submission policy: 25% o↵ up to 24 hours late; 50% o↵ up to 48 hours late;
No point for more than 48 hours late.
2 Elementary row operations (30 points)
As this may be your first experience with serious programming in Matlab,
we will ease into it by first writing some simple functions that perform the
elementary row operations on a matrix: interchange, scaling, and replacement.
In this exercise, complete the following files:
function B = interchange(A, i, j)
Input: a rectangular matrix A and two integers i and j.
Output: the matrix resulting from swapping rows i and j, i.e. performing the
row operation Ri $ Rj .
function B = scaling(A, i, s)
Input: a rectangular matrix A, an integer i, and a scalar s.
Output: the matrix resulting from multiplying all entries in row i by s, i.e. per-
forming the row operation Ri sRi.
function B = replacement(A, i, j, s)
Input: a rectangular matrix A, two integers i and j, and a scalar s.
Output: the matrix resulting from adding s times row j to row i, i.e. performing
the row operatio.
CSCE 3110 Data Structures & Algorithms Summer 2019 1 of .docx
CSCE 3110 Data Structures & Algorithms Summer 2019
1 of 12
Project 3 – Hopscotch Hash Table
Due: 11:59 PM on Friday, June 21, 2019
PROGRAM DESCRIPTION
In this C++ program, you will implement an efficient hopscotch hash table that improves
on the classic linear probing algorithm. Specifically, you will use a TABLE_SIZE = 17
and use the single hash function ℎ(𝑥) = 𝑥 mod 𝑇𝐴𝐵𝐿𝐸_𝑆𝐼𝑍𝐸. You shall resolve
collisions using linear probing where the maximal length of the probe sequence (i.e.,
distance away from the original hash location) is bound by the hopscotch hash
algorithm where MAX_DIST = 4.
You shall support the following five operations that are menu driven:
1. Insert Value
2. Delete Value
3. Search Value
4. Output Table
5. Exit Program
All data shall be entered through the console and consist of integers. You may assume
valid data, though data may be out of range (i.e., zero, negative integers or possibly out
of range of menu options). Your algorithm to find the next available slot is bound by the
end of the table so that the linear probe sequence need not be circular. In other words,
you do not need to wrap around beyond the last element of the array to the first for
either the linear probe or the bound for the hopscotch algorithm. For example, if the
user attempts to insert 33 which hashes to index position 16 (i.e., 33 % TABLE_SIZE) in
the array, but an element already exists at that location, the insert will fail as there are
no more array locations beyond this to attempt to insert the element.
You must keep an item array containing the elements as well as an associated hop
array that indicates positions in the item array that are occupied with items that hash to
the same value. You should also provide specific feedback to the user on successful
operations or when an operation failed. The search should utilize the hash value and
then perhaps a linear probe of MAX_DIST – 1 index locations, but you should not
simply search the entire array to accomplish this operation. Be sure to handle the case
that requires multiple hops (i.e., using recursion) to get the value within the correct
range.
REQUIREMENTS
• Your code should be well documented in terms of comments. For example, good
comments in general consist of a header (with your name, course section, date,
and brief description), comments for each variable, and commented blocks of
code.
• Your program will be graded based largely on whether it works correctly on the
CSE machines (e.g., cse01, cse02, …, cse06), so you should make sure that
your program compiles and runs on a CSE machine.
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aemalki
aemalki
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aemalki
aemalki
CSCE 3110 Data Structures & Algorithms Summer 2019
2 of 12
• You should contact your instructor if there is any question about what is being
asked for.
• This is an individual programming assignment that must be the sole work of the
individual student. Any in
CSCI 340 Final Group ProjectNatalie Warden, Arturo Gonzalez, R.docx
CSCI 340 Final Group Project
Natalie Warden, Arturo Gonzalez, Ricky Gaji
Introduction
As our world continues to rely on technology to store our information, issues concerning data storage and organization will arise
Association of Computing Machinery (ACM) has asked us to prepare a database through which they can easily and effectively access this information
In this project we have created a tier system of entities, established the relationships between them, and decreased redundancy by eliminating repeating attributes
Responsibility MatrixTask/PersonNatalieArturoRickyAnalysisMSER-DiagramSMRedundancySSSSQLMSLogical DesignMAnalysis DocMRelationships DocMReadMe DocSMDatabaseMSS
Software Used:
Analysis:
Google Docs - helped to bring the group together and organize all our information to make sure we were on the same page.
Google Slides- served as the main platform in which to come up with our presentation and visualize what we are going to do.
Draw.io- used to build our many ER diagrams
Database Design:
x10 web hosting- hosted our website and had the tools necessary to get started on the database
phpMyAdmin- here we created our database tables and made sure all the attribute’s data types and entity’s primary key, foreign keys, and attributes were correct.
mySQL Databases- used as relational database management system
generatedata.com-used to create “dummy” data to incorporate in the SQL testing
Analysis and Findings
Problems/Results
Final Decision
Decided to create entities for leadership
Took inspiration from University database setup
ER-Diagram
Tables
Tables
Building the ACM Database
Populated Tables
SQL/RESULTS
3
Name
Course
Date
Instructor
Benchmark - Gospel Essentials
In at least 150 words, complete your introductory paragraph with a thesis statement in which you will address each of the following six sections with at least one paragraph each.
God
In at least 150 words, respond thoroughly to the questions in the assignment. Be sure to include citations.
Humanity
In at least 150 words, respond thoroughly to the questions in the assignment. Be sure to include citations.
Jesus
In at least 150 words, respond thoroughly to the questions in the assignment. Be sure to include citations.
Restoration
In at least 150 words, respond thoroughly to the questions in the assignment. Be sure to include citations.
Analysis
In at least 150 words, respond thoroughly to the questions in the assignment. Be sure to include citations.
Reflection
In at least 150 words, respond thoroughly to the questions in the assignment. Be sure to include citations.
Conclusion
In at least 150 words, synthesize the main points, pulling the ideas of the paper together. Be sure to include citations.
References
Author, A. A., .
CSC-321 Final Writing Assignment In this assignment, you .docx
CSC-321 Final Writing Assignment
In this assignment, you will write an article about a recent cybersecurity attack (of your choosing). The
article will include the following components:
1) Executive summary: a 1-page executive summary highlighting the potential impact and likelihood
of a similar attack against a fictional company XYZ. XYZ should be a company in a similar field
to the company attacked by the vulnerability.
a. Audience: A C-level business executive. Do not assume they will have any technical
knowledge but assume they are very interested in the economic impact of things.
b. Purpose: Provide a summary that they will use to make business decisions from. You
need to be convincing that the cost of security makes business sense.
2) Technical report: a 3-page technical report including the following topics: Introduction,
Vulnerability(s) exploited, financial impact (if applicable), social impact (if applicable),
technological impact (if applicable), political impact (if applicable), patches available/needed to
prevent these vulnerabilities (if applicable), human training needed (if applicable), comparison to
similar vulnerabilities in the past 20 years, assessment of how common the vulnerability is, and
recommendations for company XYZ to protect itself from similar vulnerabilities.
a. Audience: A Technical manager and his engineering staff. Assume a good knowledge of
computer science, engineering, and math but no specific security knowledge.
b. Purpose: Provides information to engineers at XYZ about the attack and how to prevent a
similar one against XYZ.
3) Press release: a 2-page article for popular consumption (think wired). This should explain the
vulnerability, protection, and potential impact to general audiences (users and share-holders).
a. Format: 2-page wired article. Be informative, objective, and entertaining
b. Audience: General public who are interested in technology but may have never taken a
computer science course and, almost certainly, have never taken a computer security
course.
c. Purpose: To express your understanding to a broad audience.
Choosing your topic
Your article must be about a recent computer security exploit with real world impacts. You must get your
topic approved in lab or by email before April 22nd.
Format: IEEE conference formatting with 12pt font. All page counts are precise. You should not go
over and should be no more than ¼ column under.
Press release (2 pages) Draft: Apr, 29 Due: May, 13
Lastly you are to write a two-page article for a national technical magazine, think Wired. This article is
intended for a general audience who is interested in technology but does not have formal technical
backgrounds. This article should explain the attack, its impact, how it is mitigated, and what (if
anything) the general audience should do. This article should be informative, objective, and entertaining.
Executive Summary (1 page) .
Cryptography is the application of algorithms to ensure the confiden.docx
Cryptography is the application of algorithms to ensure the confidentiality, integrity, and availability of data, while it is at rest, in motion, or in use. Cryptography systems can include local encryptions at the file or disk level or databases. Cryptography systems can also extend to an enterprise-wide public key infrastructure for whole agencies or corporations.
The following are the deliverables for this project:
Deliverables
Enterprise Key Management Plan:
An eight- to 10-page double-spaced Word document with citations in APA format. The page count does not include figures, diagrams, tables, or citations.
Enterprise Key Management Policy:
A two- to three-page double-spaced Word document.
Lab Report:
A Word document sharing your lab experience along with screenshots.
There are seven steps to complete the project. Most steps of this project should take no more than two hours to complete. The entire project should take no more than one week to complete. Begin with the workplace scenario, and then continue to Step 1, “Identify Components of Key Management.”
When you submit your project, your work will be evaluated using the competencies listed below. You can use the list below to self-check your work before submission.
Step 1: Identify Components of Key Management
Key management will be an important aspect of the new electronic protected health information (e-PHI). Key management is often considered the most difficult part of designing a cryptosystem.
Choose a fictitious or an actual organization. The idea is to provide an overview of the current state of enterprise key management for Superior Health Care.
Review these authentication resources to learn about
authentication
and the characteristics of key management.
Provide a high-level, top-layer network view (diagram) of the systems in Superior Health Care. The diagram can be a bubble chart or Visio drawing of a simple network diagram with servers. Conduct independent research to identify a suitable network diagram.
Read these resources on
data at rest
, data in use, and
data in motion
.
Identify data at rest, data in use, and data in motion as it could apply to your organization. Start by focusing on where data are stored and how data are accessed.
Review these resources on insecure handling, and identify areas where
insecure handling
may be a concern for your organization.
Incorporate this information in your key management plan.
In the next step, you will consider key management capabilities.
Step 3: Identify Key Management Gaps, Risks,
Solution
s, and Challenges
In the previous step, you identified the key components of an enterprise key management system. In this step, you will conduct independent research on key management issues in existing organizations. You will use this research to help identify gaps in key management, in each of the key management areas within Superior Health Care.
Conduct independent research to identify typical gaps in key manage.
CSc3320 Assignment 6 Due on 24th April, 2013 Socket programming .docx
CSc3320 Assignment 6 Due on 24th April, 2013
Socket programming code (server.c & client.c) demoed in class implement a server-client communication by socket. The server sets up a socket and waits for communication request from a client. The client tries to connect to server and asks user for a message to send to server after the connection established. Server then accepts the communication, reads the message, displays it and send confirmation message to the client. The client reads confirmation from server and displays it too.
Please modify the server.c such that the server can carry out the same communication with
3
clients. It creates a child process (fork()) every time a communication request from one client arrives and continues to wait to serve the next client. This child process takes care of reading message/sending confirmation from/to the corresponding client and terminates with the exit code 0. After serving all 3 clients, the server needs to accept (wait()) termination of all child processes it created. Server prints out message about the child process ID and the exit code every time it accepts the termination of a child process (eg. “A child with PID 1959 terminated with exit code 0”).
Client.c
#include
#include
#include
#include
#include
#include
#include
#include
void error(const char *msg)
{
perror(msg);
exit(0);
}
int main(int argc, char *argv[])
{
int sockfd, portno, n;
struct sockaddr_in serv_addr;
struct hostent *server;
char buffer[256];
if (argc < 3) {
fprintf(stderr,"usage %s hostname port\n", argv[0]);
exit(0);
}
portno = atoi(argv[2]);
sockfd = socket(AF_INET, SOCK_STREAM, 0);
if (sockfd < 0)
error("ERROR opening socket");
server = gethostbyname(argv[1]);
if (server == NULL) {
fprintf(stderr,"ERROR, no such host\n");
exit(0);
}
bzero((char *) &serv_addr, sizeof(serv_addr));
serv_addr.sin_family = AF_INET;
bcopy((char *)server->h_addr,
(char *)&serv_addr.sin_addr.s_addr,
server->h_length);
serv_addr.sin_port = htons(portno);
//printf("h_addr: %s\n", inet_ntoa(serv_addr.sin_addr));
if (connect(sockfd,(struct sockaddr *) &serv_addr,sizeof(serv_addr)) < 0)
error("ERROR connecting");
printf("Please enter the message: ");
bzero(buffer,256);
fgets(buffer,255,stdin);
n = write(sockfd,buffer,strlen(buffer));
if (n < 0)
error("ERROR writing to socket");
bzero(buffer,256);
n = read(sockfd,buffer,255);
if (n < 0)
error("ERROR reading from socket");
printf("%s\n",buffer);
close(sockfd);
return 0;
}
Server.c
/* A simple server in the internet domain using TCP
The port number is passed as an argument */
#include
#include
#include
#include
#include
#include
#include
#include
void error(const char *msg)
{
perror(msg);
.
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- 1. FINAL EXAM: ACC/400 S. Duhn The condensed financial statements of Westward Corporation for 2006 are presented below. Westward Corporation Westward Corporation Balance Sheet Income Statement December 31, 2006 For the Year Ended December 31, 2006 Assets Revenues $2,000,000 Current assets Expenses Cash and temporary Cost of goods sold 1,080,000 investments
- 2. $ 30,000 Selling and administrative Accounts receivable 70,000 expenses 495,000 Inventories 120,000 Interest expense 30,000 Total current assets 220,000 Total expenses 1,605,000 Property, plant, and Income before income taxes 395,000 equipment (net) 780,000 Income tax expense 140,000
- 3. Total assets $1,000,000 Net income $ 255,000 Liabilities and Stockholders' Equity Current liabilities $ 80,000 Long-term liabilities 300,000 Common stockholders' equity 620,000 Total liabilities and stockholders' equity $1,000,000 Westward Corporation Westward Corporation Balance Sheet Income Statement December 31, 2005 For the Year Ended December 31, 2005 Assets Revenues $2,500,000 Current assets
- 4. Expenses Cash and temporary Cost of goods sold 1,750,000 investments $ 40,000 Selling and administrative Accounts receivable 90,000 expenses 500,000 Inventories 150,000 Interest expense 30,000 Total current assets 280,000 Total expenses 2,280,000
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