This document is an assignment for a financial and management accounting course. It includes 6 questions related to accounting topics. Students are asked to explain accounting processes and objectives, describe different types of subsidiary books, prepare trading and cost statements, write short notes on cost management systems and value added, and determine if a company should drop a product based on its income statement and additional financial information provided. The assignment evaluates students' understanding of key accounting concepts and ability to perform relevant calculations and analyses.
Accounting 970602 paper 2 structured questions october november 2008 Alpro
Accounting 970602 paper 2 structured questions october november 2008
Advanced Level
A Level
Zimsec
Cambridge
Alpro Learning Portal
Accounting
Accounts
Zimbabwe
Principle of accounts
Accounting 970602 paper 2 structured questions october november 2008 Alpro
Accounting 970602 paper 2 structured questions october november 2008
Advanced Level
A Level
Zimsec
Cambridge
Alpro Learning Portal
Accounting
Accounts
Zimbabwe
Principle of accounts
Mb0041 financial and management accountingsmumbahelp
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Business accounting (Comprehensive illustrative format of a Master Budget)Mary Justine Basco
“Always remember that in budgeting, the most important task is the enumeration of assumptions based on sound estimates or forecasts by the people involved in budgeting process”
Accounting 970602 paper 2 structured questions october november 2007 Alpro
Accounting 970602 paper 2 structured questions october november 2007
Advanced Level
A Level
Zimsec
Cambridge
Alpro Learning Portal
Accounting
Accounts
Zimbabwe
Principle of accounts
Accounting 970602 paper 2 structured questions october november 2006 Alpro
Accounting 970602 paper 2 structured questions october november 2006
Advanced Level
A Level
Zimsec
Cambridge
Alpro Learning Portal
Accounting
Accounts
Zimbabwe
Principle of accounts
Mb0041 financial and management accountingsmumbahelp
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
“ help.mbaassignments@gmail.com ”
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Business accounting (Comprehensive illustrative format of a Master Budget)Mary Justine Basco
“Always remember that in budgeting, the most important task is the enumeration of assumptions based on sound estimates or forecasts by the people involved in budgeting process”
Accounting 970602 paper 2 structured questions october november 2007 Alpro
Accounting 970602 paper 2 structured questions october november 2007
Advanced Level
A Level
Zimsec
Cambridge
Alpro Learning Portal
Accounting
Accounts
Zimbabwe
Principle of accounts
Accounting 970602 paper 2 structured questions october november 2006 Alpro
Accounting 970602 paper 2 structured questions october november 2006
Advanced Level
A Level
Zimsec
Cambridge
Alpro Learning Portal
Accounting
Accounts
Zimbabwe
Principle of accounts
New Entrants in Electric Generation in Tennessee ValleyTNenergy
New Entrants in Electric Generation in Tennessee Valley" at the 43rd Annual Environmental Show of the South on April 30, 2014 in Gatlinburg, TN. The panel was comprised of experts in energy law and federal regulations, including Jim Rossi of Vanderbilt University and Gregory Young and Kenneth Gish of Stites and Harbison, PLLC. The session was approved for continuing legal education credits.
Due Tues., May 2- 7 questions Big Time Picture Frames h.docxsagarlesley
Due Tues., May 2- 7 questions
Big Time Picture Frames has asked you to determine whether the company's ability to pay current
liabilities and total liabilities improved or deteriorated during 2009. To answer this question, you gather the
following data:
______________________________________________2009__________2008
Cash $52, 000 51, 000
Short-term investments 30,000 --
Net receivables 110,000 120, 000
Inventory 217,000 262,000
Total assets 540,000 490,000
Total current liabilities 265,000 202,000
Long-term note payable 44,000 54,000
Income from operations 165,000 153,000
Interest expense 44,000 37,000
Requirement
1. Compute the following ratios for 2009 and 2008:
a. Current ratio
b. Acid-test ratio
c. Debt ratio
d. Times-interest-earned ratio
a. Calculate the current ratio for both years. (Round your answers to two decimal places.)
2009: nothing
2008: nothing
The Variline Inc., comparative income statement follows. 2010 data are given as needed.
Variline, Inc.
Comparative Income Statement
Years Ended December 31, 2012 and 2011
(Dollars in thousands) 2012 2011 2010
Net sales $176,000 $160,000
Cost of goods sold 93,600 86,000
Selling and general expenses 46,800 41,400
Interest expense 9,600 10,900
Income tax expense 10,200 9,200
Net income $15,800 $12,500
Additional data:
Total assets $201,000 $192,000 $174,000
Common stockholders' equity $96,900 $89,800 $79,500
Preferred dividends $3,400 $3,400 $0
Common shares outstanding during the
year 20,000 20,000 18,000
Requirements
1. Calculate the rate of return on net sales.
2. Calculate the rate of return on total assets.
3. Calculate the rate of return on common stockholders' equity.
4. Calculate the EPS.
5. Did the company's operating performance improve or deteriorate during 2012?
Requirement 1. Calculate the rates of return on net sales for 2012 and 2011. (Round your answers to
three decimal places.)
2012:
nothing
2011: nothing
The Specialty Department Stores, Inc., chief executive officer (CEO) has asked you to compare the
company's profit performance and financial position with the average for the industry. The CEO has
given you the company's income statement and balance sheet, as well as the industry average data for
retailers.
Specialty Department Stores, Inc.
Income Statement Compared with Industry Average
Year Ended December 31, 2010
Industry
Specialty Average
Net sales $782,000 100.0 %
Cost of goods sold 526,286 65.8
Gross profit 255,714 34.2
Operating expenses 164,220 19.7
Operating income 91,494 14.5
Other expenses 6,256 0.4
Net income $85,238 14.1 %
Specialty Department Stores, Inc.
Balance Sheet Compared with Industry Average
December 31, 2010
...
ACC205 Discussion QuestionsAccounting Equation As you hav.docxannetnash8266
ACC205 Discussion Questions:
Accounting Equation
As you have learned in this week’s readings the Accounting Equation is Assets = Liabilities + Owners’ Equity. Is the accounting equation true in all instances? Provide sample transactions from your own experiences to demonstrate the validity of the Accounting Equation.
Accounts
What does the term account mean? What are the different classifications of accounts? How do the rules for debits and credits impact accounts? Please provide an example of how debits and credits impact accounts.
Accounting Cycle
Financial statements are a product of the accounting cycle. Think about two different companies: a manufacturing company, and a retail company. Why would different companies have different accounting cycles? Would you expect the steps of the accounting cycle to be the same for each company? Why or why not?
Bank Reconciliation
What is the purpose of a bank reconciliation? What are the reasons for differences between the cash reported in the accounting records and the cash balance in the bank statements?
LIFO vs. FIFO
The controller of Sagehen Enterprises believes that the company should switch from the LIFO method to the FIFO method. The controller’s bonus is based on the next income. It is the controller’s belief that the switch in inventory methods would increase the net income of the company. What are the differences between the LIFO and FIFO methods?
Depreciation
A variety of depreciation methods are used to allocate the cost of an asset to all of the accounting periods benefited by the use of the asset. Your client has just purchased a piece of equipment for $100,000. Explain the concept of depreciation. Which of the following depreciation methods would you recommend: straight-line depreciation, double declining balance method, or an alternative method?
Ratios
Ratios provide the users of financial statements with a great deal of information about the entity. Do ratios tell the whole story? How could liquidity ratios be used by investors to determine whether or not to invest in a company?
Profit Margin
Year Ending December 2012
Year Ending December 2011
Year Ending December 2010
Revenues
40,000
35,000
33,000
Operating Expenses
Salaries
15,000
10,000
9,000
Maintenance and Repairs
6,000
9,000
10,000
Rental Expense
2,500
2,500
2,500
Depreciation
2,000
2,000
2,000
Fuel
4,000
3,500
2,500
Total Operating Expenses
29,500
27,000
26,000
Operating Income
10,500
8,000
7,000
Sales and Administrative Expenses
6,000
4,000
3,000
Interest Expense
2,500
2,000
1,000
Net Income
2,000
2,000
3,000
Above is a comparative income statement for Cecil, Inc. for the years 2010, 2011, and 2012. Calculate the profit margin for each of these years. Comment on the profit margin trend.
BWeek Five Exercise Assignment
Financial Ratios
1. Liquidity ratios. Edison, Stagg, and Thornton have the following financial information at the close of business on July 10:
Edi.
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Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
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1. ASSIGNMENT
DRIVE SPRING 2014
PROGRAM MBADS/ MBAFLEX/ MBAHCSN3/ MBAN2/ PGDBAN2
SEMESTER 1
SUBJECT CODE &
NAME
MB0041 & FINANCIAL AND MANAGEMENT ACCOUNTING
BK ID B1624
CREDIT & MARKS 4 Credits, 60 marks
Q.No Questions Marks Total Marks
1 Accounting is an art of recording, classifying and summarizing in a significant
manner and in terms of money transactions and events. Explain the accounting
process and write the objectives of accounting.
A Explanation of accounting process
Objectives of accounting
8
2
10
2 Journal is a book of original entry and only one journal is maintained if the
business is very small in size and the transactions are limited.
Give the meaning of a subsidiary book. List and explain all the types of
subsidiary books.
A Explanation of subsidiary books
Explanation of all types of subsidiary books
3
7
10
3 For the following balances extracted from a trial balance, prepare a trading
account.
Particulars Amount in Rs.
Stock on 1-1-2004 70700
Returns inwards 3000
Returns outwards 3000
Purchases 102000
Debtors 56000
Creditors 45000
Carriage inwards 5000
Carriage outwards 4000
Import duty on materials received from
abroad
6000
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2. Clearing charges 7000
Rent of business shop 12000
Royalty paid to extract materials 10000
Fire insurance on stock 2000
Wages paid to workers 8000
Office salaries 10000
Cash discount 1000
Gas, electricity, and water 4000
Sales 250000
A Preparation of trading account 10 10
4 Write short notes on :
a) Cost Management System(CMS)
b) Value added
A Explanation of CMS
Value Added
5
5
10
5 Ajay industries manufactures a product X. On 1st
January, 2007, there were 5000
units of finished product in stock.
Work-in-progress Rs.57,400
Raw materials Rs.1,16,200
The information available from cost records for the year ended 31st
December,
2007 is as follows:
Direct material 9,06,900
Direct labour 3 ,26,400
Freight on R M purchased 55,700
Indirect labour 1,21,600
Other factory overhead 3,17,300
Stock of raw materials on 31
st
Dec 2007 96,400
Work-in-progress on 31
st
Dec 2007 78,200
Sales (1,50,000 units) 30,00,000
Indirect materials 2,13,900
There are 15000 units of finished stock in hand on 31st
December 2007. Prepare
a statement of cost and profit assuming that opening stock of finished goods is
to be valued at the same cost per unit as the finished stock at the end of the
period.
A Preparation of statement of cost and profit 10 10
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3. 6
Assume a company is considering dropping product B from its line because
accounting statement shows that product B is being sold at a loss.
Product
Income Statement
A B C Total
Sales revenue 50,000 7,500 12,500 70,000
Cost of sales:
D. material 7,500 1,000 1,500 10,000
D. labour 15,000 2,000 2,500 19,500
Indirect manufacturing cost (50% of
Direct labour)
7,500 1,000 1,250 9,750
Total 30,000 4,000 5,250 39,250
Gross margin on sales 20,000 3,500 7,250 30,750
Selling and Admn 12,500 4,500 4,000 21,000
Net income 7,500 (1,000) 3,250 9,750
Additional information:
a) Factory overhead cost is made up of fixed cost of Rs. 5850 and variable cost
of Rs. 3900.
b) Variable cost by products are: A – Rs. 3000, B – Rs. 400, and
C – Rs. 500.
c) Fixed costs and expense will not be changed if product B is eliminated.
d) Variable selling and administrative expenses to the extent of Rs. 11000 can
be traced to the product: A - Rs.7,500, B - Rs.1500, and
C - Rs. 2000.
e) Fixed selling and administration expense are Rs. 10000.
A Preparation of income statement
Conclusion with interpretation
8
2
10
*A-Answer
Note – Answer all questions. Kindly note that answers for 10 marks questions should be
approximately of 400 words. Each question is followed by evaluation scheme.
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