ACC 561 Week 6 Assignment Managerial Analysis Assessment  (Green Pasture) Updated

Week Six Individual Assignment

Purpose of Assignment 

This comprehensive case requires students to evaluate a static budget and prepare flexible budgets to meet managerial needs. Students are required to calculate and analyze variances and discuss how variances are critical to managerial decision making. 

Assignment Steps 

Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Committee (SEC), Green Pastures Static Budget Income Statement 

Tutorial help on Excel^® and Word functions can be found on the Microsoft^® Office website. There are also additional tutorials via the web offering support for Office products. 

Scenario: Green Pastures is a 400-acre farm on the outskirts of the Kentucky Bluegrass, specializing in the boarding of broodmares and their foals. A recent economic downturn in the thoroughbred industry has led to a decline in breeding activities, and it has made the boarding business extremely competitive. To meet the competition, Green Pastures planned in 2017 to entertain clients, advertise more extensively, and absorb expenses formerly paid by clients such as veterinary and blacksmith fees.

The budget report for 2017 is presented as an attachment. As shown, the static income statement budget for the year is based on an expected 21,900 boarding days at $25 per mare. The variable expenses per mare per day were budgeted: feed $5, veterinary fees $3, blacksmith fees $0.25, and supplies $0.55.  All other budgeted expenses were either semifixed or fixed.

During the year, management decided not to replace a worker who quit in March, but it did issue a new advertising brochure and did more entertaining of clients. 

Develop a minimum 700-word examination of the financial statements and include the following:

·  Based on the static budget report:

o What was the primary cause(s) of the loss in net income?

o Did management do a good, average, or poor job of controlling expenses?

o Were management’s decisions to stay competitive sound?

·  Prepare a flexible budget report for the year.

·  Based on the flexible budget report:

o What was the primary cause(s) of the loss in net income?

o Did management do a good, average, or poor job of controlling expenses?

o Were management’s decisions to stay competitive sound?

What course of action do you recommend for the management of Green Pastures?

ACC 561 Week 5 Team Cost Behavior Analysis Updated

Week Five Learning Team Assignment

Purpose of Assignment 

The case study focuses on break-even, margin of safety, and incremental analysis and allows students to experience working through a business scenario to apply these tools in managerial decision making.  Students are required to make decisions and provide solutions based on their evaluation of financial data. 

Assignment Steps 

Resources:  Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Committee (SEC) 

Tutorial help on Excel^® and Word functions can be found on the Microsoft^® Office website. There are also additional tutorials via the web offering support for Office products.

Scenario: Shelley Jones has just been elected as president of the Circular Club of Auburn, Kansas, and she has been asked to suggest a new fundraising activity for the club. After a considerable amount of research, Shelley proposed the Circular Club sponsor a professional rodeo. In her presentation to the club, Shelley recommends the fundraiser become an annual activity with the following goals:

·  Continue to grow each year

·  Give back to the community

·  Provide the club a presence in the community 

Shelley’s goal in the first year is to have an activity that would become an “annual community event” and would break even the first year and raise $5,000 the following year. In addition, based on the experience of other communities, Shelley believed a rodeo could grow in popularity so the club would eventually earn an average of $20,000 annually.

A rodeo committee was formed. Shelley contacted the world’s oldest and largest rodeo-sanctioning agency to apply to sponsor a professional rodeo. The sanctioning agency requires a rodeo to consist of the following five events: Bareback Riding, Bronco Riding, Steer Wrestling, Bull Riding, and Calf Roping, Team Roping and Women’s Barrels. Prize money in the amount of $3,000 would be paid to winners in each of the seven events. Members of the rodeo committee contracted with RJ Cattle Company, a livestock contractor on the rodeo circuit, to provide bucking stock, fencing, and chutes. Realizing costs associated with the rodeo were tremendous and ticket sales would probably not be sufficient to cover the costs, the rodeo committee sent letters to local businesses soliciting contributions in exchange for various sponsorships. Exhibiting Sponsorships are $1,000 to exhibit products or services, while Major Sponsorships are $600, and Chute Sponsorships are $500 to have the name of the sponsor’s business on one of the six bucking chutes. For a contribution of $100, individual sponsors will be included in a Friends of Rodeo list found in the rodeo programs. 

A local youth group will be contacted to provide concessions to the public and divide the profits with the Circular Club. The Auburn Circular Club Pro Rodeo Roundup will be held on June 1, 2, and 3. The cost of an adult ticket is set at $8 in advance or $10 at the gate; the cost of a ticket for a child 12 or younger is set at $6 in advance or $8 at the gate. Tickets are not date-specific. Rather, one ticket will admit an individual to one performance of his or her choice– Friday, Saturday, or Sunday. The rodeo committee is able to secure a location through the county supervisors’ board at a nominal cost to the Circular Club. The arrangement allows for the use of the county fair grounds and arena for a one-week period. Several months prior to the rodeo, members of the rodeo committee were notified the bleachers at the arena would hold 2,500 patrons. On Saturday night, paid attendance was 1,663, but all seats were filled due to poor gate controls.  Attendance was 898 Friday and 769 on Sunday. 

The following revenue and expense figures relate to the first year of the rodeo. 

Receipts

Contributions from sponsors      $22,000

Receipts from ticket sales         $28,971

Share of concession profits         $1,513

Sale of programs                           $600

Total receipts                            $53,084

Expenses

Livestock contractor                  $26,000

Prize money                              $21,000

Contestant hospitality                  $3,341*

Sponsor signs for arena               $1,900

Insurance                                    $1,800

Ticket printing                              $1,050

Sanctioning fees                             $925

Entertainment                                 $859

Judging fees                                   $750

Port-a-potties                                  $716

Rent                                               $600

Hay for horses                                 $538

Programs                                         $500

Western hats to first 500 children       $450

Hotel rooms for stock contractor        $325

Utilities                                            $300

Sand for arena                                  $251

Miscellaneous fixed costs                  $105

Total expenses                                            $61,410

Net loss                                                      $ (8,326) 

*The club contracted with a local caterer to provide a tent and food for the contestants. The cost of the food was contingent on the number of contestants each evening. Information concerning the number of contestants and the costs incurred are as follows: 

                                    Contestants                  Total Cost

Friday                                  68                            $998

Saturday                              96                          $1,243

Sunday                                83                          $1,100

                                                                         $3,341 

On Wednesday after the rodeo, members of the rodeo committee met to discuss and critique the rodeo. Jonathan Edmunds, CPA and President of the Circular Club, commented that the club did not lose money. Rather, Jonathan said, “The club made an investment in the rodeo.”  The rodeo committee has requested an analysis of the rodeos performance and evaluation of the CPA’s review.

Create a minimum 10-slide presentation, including detailed speaker notes, as the committee’s consultation team and respond to the following:

·  What did Jonathan Edmunds mean when he said the club had made an investment in the rodeo? Is his comment consistent with Shelley’s idea that the club should have a fundraiser that would:

o Continue to get better each year.

o Give back to the community.

o Provide the club a presence in the community? Why or why not?

·  Shelley, Jonathan, and Adrian Stein, the Fundraising Chairperson, are beginning to make plans for next year’s rodeo. Shelley believes by negotiating with local feed stores, inn- keepers, and other business owners, costs can be cut dramatically. Jonathan agrees. After carefully analyzing costs, Jonathan has estimated the fixed expenses can be pared to approximately $51,000. In addition, Jonathan estimates variable costs are 4% of total gross receipts. After talking with business owners who attended the rodeo, Adrian is confident the funds solicited from sponsors will increase. Adrian is comfortable in budgeting revenue from sponsors at $25,600. The local youth group is unwilling to provide concessions to the audience unless they receive all of the profits. Not having the personnel to staff the concession booth, members of the Circular Club reluctantly agree to let the youth group have 100% of the profits from the concessions. In addition, members of the rodeo committee, recognizing the net income from programs was only $100, decide not to sell rodeo programs next year.

o Compute the break-even point in dollars of ticket sales assuming Adrian and Jonathan are correct in their assumptions.

·  Shelley has just learned you are calculating the break-even point in dollars of ticket sales. She is still convinced the Club can make a profit using the assumptions above (second bullet point above).

o Calculate the dollars of ticket sales needed to earn a target profit of $6,000.

o Calculate the dollars of ticket sales needed to earn a target profit of $12,000.

·  Are the facilities at the fairgrounds adequate to handle crowds needed to generate ticket revenues calculated above (third bullet point above) to earn a $6,000 profit? Show calculations to support your answers.

·  A few members in the Circular Club do not want to continue with the annual rodeo. However, Shelley is insistent the Club must continue to conduct the rodeo as an annual fundraiser. Shelley argues she has spent hundreds of dollars on western boots, hats, and other items of clothing to wear to the rodeo. Are the expenses related to Shelley’s purchases of rodeo clothing relevant costs? Why or why not?

·  Rather than hire the local catering company to cater the Contestant Hospitality Tent, members of the Circular Club are considering asking Shady’s Bar-B-Q to cater the event in exchange for a $600 Major Sponsor spot. In addition, The Fun Shop, a local party supply business, will be asked to donate a tent to use for the event. The Fun Shop will also be given a $600 Major Sponsor spot. Several members of the Club are opposed to this consideration, arguing that the two Major Sponsor spots will take away from the money to be earned through other sponsors. Adrian Stein has explained to the members the Major Sponsor signs for the arena cost only $48 each. In addition, there is more than enough room to display two additional sponsor signs. What would you encourage the Club to do concerning the Contestant Hospitality Tent? Would your answer be different if the arena were limited in the number of additional signs that could be displayed? What kind of cost would you consider in this situation that would not be found on a financial statement?

·  Assume you are elected chair of the rodeo committee for next year. What steps would you suggest the committee take to make the rodeo profitable?

Show your work in Microsoft^® Word or Excel^®. 

Complete calculations/computations using Microsoft^® Word or Excel^®. 

Format the assignment consistent with APA guidelines.

ACC 561 Week 4 Assignment Production Cost (Davis Skaros) Updated

Week Four

Purpose of Assignment 

The materials covered this week distinguish between the different costing methods and provides needed tools for decision making. This case study focuses on determining equivalent units in a production business setting. 

Assignment Steps 

Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Committee (SEC) 

Tutorial help on Excel^® and Word functions can be found on the Microsoft^® Office website. There are also additional tutorials via the web offering support for Office products. 

Scenario: Davis Skaros has recently been promoted to production manager. He has just started to receive various managerial reports, including the production cost report you prepared. It showed his department had 2,000 equivalent units in ending inventory. His department has had a history of not keeping enough inventory on hand to meet demand. He has come to you, very angry, and wants to know why you credited him with only 2,000 units when he knows he had at least twice that many on hand.

Prepare a maximum 700-word informal memo and explain to Mr. Skaros why his production cost report showed only 2,000 equivalent units in ending inventory. Using a professional tone, explain to him clearly why your report is accurate.

Format the assignment consistent with APA guidelines. 

Click the Assignment Files tab to submit your assignment.

ACC 561 Week 3 Team Financial Statement Analysis and Decision Making Activity Updated

Purpose of Assignment 

The activity requires students to perform research and analysis on competing companies and the potential implications of international standards. This real-world analysis is key to understanding how a company’s profitability, liquidity, and solvency can be useful for all users. Students also learn to analyze financial statements and use managerial tools to make decisions from an investor’s and creditor’s standpoint. 

Assignment Steps 

Resources: U.S. Securities and Exchange Commission (SEC), websites such as Annual Reports (AnnualReports.com) 

Tutorial help on Excel^® and Word functions can be found on the Microsoft^® Office website. There are also additional tutorials via the web offering support for Office products. 

Select two competing companies, one of which must be an international company, and locate annual reports for these two companies on the Internet. 

Research the two companies on the Internet and download the Income Statement, Statement of Shareholders’ Equity, Balance Sheet, and Statement of Cash Flows. 

Develop a minimum 525-word examination of the financial statements and include the following:

·  Make a 5-year trend analysis for each company, using 2011 as the base year, of:

o Net sales.

o Net income. Discuss the significance of the trend results.

·  Compute for 2015 and 2014 the:

o Debt to assets ratio.

o Times interest earned. How would you evaluate each company’s solvency?

·  Compute for 2015 and 2014 the:

o Profit margin.

o Asset turnover.

o Return on assets.

o Return on common stockholders’ equity. How would you evaluate each company’s profitability? 

·  Evaluate the financial opportunity presented by the companies. If you were a creditor, which company would you be more likely to lend money to? Defend your decision.

·  Which company would you recommend as an investment?  Discuss the items that were considered in your decision.

·  Research global implications for the international company selected. How might changing environmental factors affect organizational choices? 

·  Consider the ethical climate (internal or external) of your chosen companies. Describe the ethical issues and impact on the stakeholders. What has been/is being done to resolve these issues? Do you agree with these methods for resolution? If not, what might you do differently?

Show your work in Microsoft^® Word or Excel^®. 

Complete calculations/computations using Microsoft^® Word or Excel^®.   

Include the four financial statements along with your assignment.

Format your assignment consistent with APA guidelines.

Click the Assignment Files tab to submit your assignment.

Note: Grades are awarded based upon individual contributions to the Learning Team assignment. Each Learning Team member receives a grade based upon his/her contributions to the team assignment. Not all students may receive the same grade for the team assignment.

ACC 561 Week 3 Assignment Ratio Analysis (P Jason) Updated

Purpose of Assignment 

This week’s focus is on the preparation of financial reports for internal users, such as managers. This case study applies the concepts of managerial accounting, through comparative and ratio analysis, and requires students to identify financial data needed by managers for decision making.

About Your Signature Assignment

This signature assignment is designed to align with specific program student learning outcome(s) in your program. Program Student Learning Outcomes are broad statements that describe what students should know and be able to do upon completion of their degree. The signature assignments may be graded with an automated rubric that allows the University to collect data that can be aggregated across a location or college/school and used for program improvements. 

Assignment Steps 

Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Committee (SEC) 

Tutorial help on Excel^® and Word functions can be found on the Microsoft^® Office website. There are also additional tutorials via the web offering support for Office products. 

Scenario: You are a loan officer for White Sands Bank of Taos. Paul Jason, president of P. Jason Corporation, has just left your office. He is interested in an 8-year loan to expand the company’s operations. The borrowed funds would be used to purchase new equipment. As evidence of the company’s debt-worthiness, Jason provided you with the following facts:

	2017	2016
Current Ratio	3.1	2.1
Asset Turnover	2.8	2.2
Net Income	Up 32%	Down 8%
Earnings per Share	$3.30	$2.50

Jason is a very insistent (some would say pushy) man. When you told him you would need additional information before making your decision, he acted offended and said, “What more could you possibly want to know?” You responded you would , at minimum, need complete, audited financial statements. 

Develop a minimum 700-word examination of the financial statements and include the following:

·         Explain why you would want the financial statements to be audited.

·         Discuss the implications of the ratios provided for the lending decision you are to make. That is, does the information paint a favorable picture? Are these ratios relevant to the decision? State why or why not.

·         Evaluate trends in the performance of White Sands Bank. Identify each performance measure as favorable or unfavorable and explain the significance of each.

·         List three other ratios you would want to calculate for White Sands Bank of Taos, and in your own words explain in detail why you would use each.

·         As the loan officer, what else would you do to gain a better understanding of Paul Jason’s, and the Corporation’s financial picture and why?

·         Based on your analysis of White Sands Bank, will you recommend approval for the requested loan? Provide specific details to support your decision. 

Format the assignment consistent with APA guidelines.

Click the Assignment Files tab to submit your assignment.

ACC 561 Week 2 Assignment Accounting Methods (Bizcon, New Syllabus) Updated

Purpose of Assignment 

This week’s activity illustrates the role a company’s accounting method plays in financial statement reporting. In this assignment, students evaluate the events occuring in a business setting and determine how to properly analyze those events to identify the impact on both cash and accrual accounting methods. 

Assignment Steps 

Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC) 

Tutorial help on Excel^® and Word functions can be found on the Microsoft^® Office website. There are also additional tutorials via the web offering support for Office products. 

Scenario: BizCon, a consulting firm, has just completed its first year of operations. The company’s sales growth was explosive. To encourage clients to hire its services, BizCon offered 180-day financing – meaning its largest customers do not pay for nearly 6 months. Because BizCon is a new company, its equipment suppliers insist on being paid cash on delivery. Also, it had to pay up front for 2 years of insurance. At the end of the year, BizCon owed employees for one full month of salaries, but due to a cash shortfall, it promised to pay them the first week of next year. 

As the senior accountant, the Chief Financial Officer has asked you to prepare a memo to be sent to management notifying them of the delayed wage payments. 

Prepare the memo in a maximum 700 words including the following information to better outline the situation:

·  Explain how cash and accrual accounting differs for each of the events listed in the above scenario and describe the proper accrual accounting.

·  Assess how at the end of the year, BizCon reported a favorable net income, yet the company’s management is concerned because the company is very short of cash. Explain to management how BizCon could have positive net income and yet run out of cash.

ACC 561 Week 1 Individual Assignment Financial Statements (2 Papers) Updated

Purpose of Assignment 

This activity helps students recognize the significant role accounting plays in providing financial information to management for decision making through the evaluation of financial statements. This experiential assignment requires students to use ratios to evaluate and analyze a company’s liquidity, solvency, and profitability. 

Assignment Steps 

Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC), University Library, Library resources: Company Directories and Financials 

Tutorial help on Excel^® and Word functions can be found on the Microsoft^® Office website. There are also additional tutorials via the web offering support for Office products. 

Select a publicly traded, U.S. corporation with which you are familiar or one where you currently work or have worked in the past.

Research the company on the Internet and download the Income Statement, Statement of Shareholders’ Equity, Balance Sheet, and Statement of Cash Flows.

Develop a minimum 700-word examination of the financial statements and include the following:

·  Determine the net income for the current fiscal year (FY). Is this income up or down from the prior year? 

·  Explain the relevance of changes in net income to investors.

·  Determine the ending balance in shareholders’ equity. Why would organizations such as labor unions be interested in this?

·  Determine the total value of assets. 

·  Discuss the relevance of the total value of assets to potential creditors and why this is important.

·  Compute the return on assets. Discuss the relative profitability of the company based on your results.

·  Compute the working capital and current ratio. Evaluate the relative liquidity of the company based on your results.

·  Compute the debt to assets ratio and the free cash flow for your company. Analyze the results and comment on the relative solvency of the company.

·  Discuss how the financial statements are used in your current role or a position you would like to hold. How might these aid you in managerial decision making?

Show your work in Microsoft^® Word or Excel^®. 

Complete calculations/computations using Microsoft^® Word or Excel^®.   

Include the four financial statements along with your assignment.

Format your assignment consistent with APA guidelines. 

Click the Assignment Files tab to submit your assignment.

ACC 561 Final Guide (New, with Excel File) Updated

This Tutorial contains Excel Sheet to solve Problem for any Values
Exercise 1-6 (Part Level Submission)
Calculate the net income.
Prepare the 2017 retained earnings statement for Metlock.Inc
Exercise 1-14
Wayne Holtz is the bookkeeper for Bramble Corp.. Wayne has been trying to get the balance sheet of Bramble Corp. to balance. It finally balanced, but now he’s not sure it is correct
Exercise 2-9
Nordstorm, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions of dollars) for a recent year follows.               Compute working capital and current ratio at the beginning of the year and at the end of the year.

P2-5A
Problem 2-5A
The following are financial statements of Nash’s Trading Post, LLC.
Nash’s Trading Post, LLC
Income Statement
For the Year Ended December 31, 2017       

additional information: The net cash provided by operating activities for 2017 was $201,600. The cash used for capital expenditures was $110,700. The cash used for dividends was $32,630. The weighted-average number of shares outstanding during the year was 50,000.

Expand Your Critical Thinking 13-4
The Coca-Cola company and PepsiCo, Inc. Provide refreshments to every corner of the world. Suppose selected data from recent consolidated financial statements for The Coca-Cola company and for PepsiCo, Inc. are presented here (in millions).
Brief Exercise 212 (Part Level Submission)
The following items were taken from the financial statements of Mint, Inc., over a three-year period:
Compute the amount and percentage change from 2016 to 2017.
Compute the amount and percentage change from 2017 to 2018.

Exercise 15-4

Manufacturing cost data for Orlando Company, which uses a job order cost system, are presented below.

Indicate the missing amount for each letter. Assume that in all cases manufacturing overhead is applied on the basis of direct labor cost and the rate is the same.
Multiple Choice Question 83
Barr Mfg. provided the following information from its accounting records for 2017:
Expected production  60,000 labor hours
Actual production       56,000 labor hours
Budgeted overhead    $900,000
Actual overhead          $870,000
How much is the overhead application rate if Barr bases the rate on direct labor hours?
Multiple Choice Question 94
If annual overhead costs are expected to be $750,000 and direct labor costs are expected to be $1,000,000, then if the activity base is direct labor costs:
Multiple Choice Question 112
Gulick Company developed the following data for the current year:
Beginning work in process inventory
$240,000
Direct materials used
144,000
Actual overhead
288,000
Overhead applied
216,000
Cost of goods manufactured
264,000
Total manufacturing costs
720,000
Gulick Company’s ending work in process inventory is
Multiple Choice Question 43
Hartley Company produces two products, Flower and Planter. Flower is a high-volume item totaling 20,000 units annually. Planter is a low-volume item totaling only 6,000 units per year. Flower requires one hour of direct labor for completion, while each unit of Planter requires 2 hours. Therefore, total annual direct labor hours are 32,000 (20,000 + 12,000). Expected annual manufacturing overhead costs are $960,000. Hartley uses a traditional costing system and assigns overhead based on direct labor hours. Each unit of Planter would be assigned overhead of

Exercise 17-1
Saddle Inc. has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based on direct labor costs. The president has heard of activity-based costing and wants to see how the results would differ if this system were used. Two activity cost pools were developed: machining and machine setup. Presented below is information related to the company’s operations.
Standard                     Custom
Direct labor costs                    $50,000                       $119,000
Machine hours             1,390               1,280
Setup hours                 105                  380
Total estimated overhead costs are $306,000. Overhead cost allocated to the machining activity cost pool is $197,000, and $109,000 is allocated to the machine setup activity cost pool.
Compute the overhead rate using the traditional (plantwide) approach. (Round answer to 2 decimal places, e.g. 12.25.)
Predetermined overhead rate
% of direct labor cost
Compute the overhead rates using the activity-based costing approach.
Determine the difference in allocation between the two approaches
Exercise 17-9
Air United, Inc. manufactures two products: missile range instruments and space pressure gauges. During April, 46 range instruments and 296 pressure gauges were produced, and overhead costs of $84,100 were estimated. An analysis of estimated overhead costs reveals the following activities.
Perdon Corporation manufactures safes—large mobile safes, and large walk-in stationary bank safes. As part of its annual budgeting process, Perdon is analyzing the profitability of its two products. Part of this analysis involves estimating the amount of overhead to be allocated to each product line. The information shown below relates to overhead.
Multiple Choice Question 55
An example of a cost which would not be assigned to an overhead cost pool is
Multiple Choice Question 71
Boswell Company manufactures two products, Regular and Supreme. Boswell’s overhead costs consist of machining, $3,000,000; and assembling, $1,500,000. Information on the two products is:
Regular            Supreme
Direct labor hours       10,000 15,000
Machine hours 10,000 30,000
Number of parts 90,000 160,000
Overhead applied to Supreme using activity-based costing is
Multiple Choice Question 124
Kingbird, Inc. began the year with retained earnings of $925000. During the year, the company issued $1274000 of common stock, recorded expenses of $3650000, and paid dividends of $242000. If Kingbird ending retained earnings was $985000, what was the company’s revenue for the year?
Multiple Choice Question 122
Sheffield Corp. began the year by issuing $106000 of common stock for cash. The company recorded revenues of $1214000, expenses of $965000, and paid dividends of $56000. What was Sheffield net income for the year?

Multiple Choice Question 131
Pharoah Company started the year with total assets of $219000 and total liabilities of $129000. During the year the business recorded $334000 in revenues, $171000 in expenses, and dividends of $54000. The net income reported by Pharoah Company for the year was
Multiple Choice Question 135
If total liabilities decreased by $131500 and stockholders’ equity decreased by $42000 during a period of time, then total assets must change by what amount and direction during that same period?
Multiple Choice Question 80
Use the following data to determine the total dollar amount of assets to be classified as current assets.
Multiple Choice Question 78
Use the following data to determine the total amount of working capital.
Multiple Choice Question 86
Swifty Corporation has assets of $3590000, common stock of $941000, and retained earnings of $600000. What are the creditors’ claims on their assets?
Multiple Choice Question 102
The following information is available for Bradshaw Corporation and Newell Corporation:
(in millions)     Bradshaw Corporation            Newell Corporation
2017    2016    2017    2016
Preferred dividends    25        10        0          30
Net income            500      480      490      520
Shares outstanding at the end of the year      200      180      150      200
Shares outstanding at the beginning at the year         180      150      200      220
Based on the information for both Bradshaw and Newell over the two-year period, the earnings per share calculations (rounded to two decimals) indicate that
Multiple Choice Question 128
A company with $60,000 in current assets and $35,000 in current liabilities pays a $1,000 current liability. As a result of this transaction, the current ratio and working capital will

Multiple Choice Question 131
Splish Brothers Inc. had a balance in the Accounts Receivable account of $766000 at the beginning of the year and a balance of $864000 at the end of the year. Net credit sales during the year amounted to $6417000. The accounts receivable turnover was
Multiple Choice Question 80
Use the following data to determine the total dollar amount of assets to be classified as current assets.  Oriole Company Balance Sheet
Multiple Choice Question 78
Use the following data to determine the total dollar amount of assets to be classified as current assets.  Novak Corp. Balance Sheet
Multiple Choice Question 86
Swifty Corporation has assets of $3590000, common stock of $941000, and retained earnings of $600000. What are the creditors’ claims on their assets?
Multiple Choice Question 102
Based on the information for both Bradshaw and Newell over the two-year period, the earnings per share calculations (rounded to two decimals) indicate that
Multiple Choice Question 128
A company with $60,000 in current assets and $35,000 in current liabilities pays a $1,000 current liability. As a result of this transaction, the current ratio and working capital will
Multiple Choice Question 131
Splish Brothers Inc. had a balance in the Accounts Receivable account of $766000 at the beginning of the year and a balance of $864000 at the end of the year. Net credit sales during the year amounted to $6417000. The accounts receivable turnover was
Multiple Choice Question 134
Novak Corp. had a balance in the Accounts Receivable account of $813000 at the beginning of the year and a balance of $906000 at the end of the year. Net credit sales during the year amounted to $8068000. The accounts receivable turnover was
Exercise 171
Moresan Co. gathered the following information on power costs and factory machine usage for the last six months:
Exercise 19-18
Langdon Company produced 9,600 units during the past year, but only 8,500 of the units were sold. The following additional information is also available.  There was no work in process inventory at the beginning and end of the year, nor did Langdon have any beginning finished goods inventory.