Identify ways in which the internationalization of business affects businesses in your community.

Actual demand for a product for the past three months was Three months ago ............. 400 units Two months ago ............. 350 units Last month ............. 325 units a. Using a simple three-...

You are the audit manager for Ken- Ron Enterprises. Your firm has been the entitys auditor for 15 years. Your firm normally uses a range of 3% to 5% of income before taxes to calculate overall...

Leoni Co. receives $240,000 when it issues a $240,000, 10%, mortgage note payable to finance the construction of a building at December 31, 2010. The terms provide for semiannual installment payments...

The adjusted trial balance of Cavamanlis Co. as of December 31, 2012, contains the following. Instructions(a) Prepare an income statement.(b) Prepare a statement of retained earnings.(c) Prepare a...

Review and justify the placement of the seven types of conflicts into the nine cells of Table 4-1 . Categories of Comflict Parties-at-Interest Project team Authority Interpersonal Goals Schedules...

a. Based on this information alone, can you determine whether White can pay a $2,000 cash dividend? Why or why not? b. Reconstruct the accounting equation for each company using percentages on the...

Sarasota Company has a credit balance of $2,200 in Allowance for Doubtful Accounts before adjustment. The estimated uncollectibles under the percentage- of-receivables basis is $5,100. Prepare the...

Assume that you recently received your MBA and now work as assistant to the CFO of a relatively large corporation. Your boss has asked you to prepare a financial forecast for the coming year, using...

On January 1, 2014, Primo Corporation had the following stockholders equity accounts. Common Stock ($10 par value, 75,000 shares issued and outstanding) .....$750,000 Paid-in Capital in Excess of...

After an extensive product analysis using group technology, Bob Buerlein has identified a product he believes should be pulled out of his process facility and handled in a work cell. Bob has...

In early January 2015, NewTech purchases computer equipment for $154,000 to use in operating activities for the next four years. It estimates the equipments salvage value at $25,000. Prepare a table...

Janssen Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Janssens ledger showed Cash of $8,000 and Common Stock of $8,000. May 1...

Sheryl Crow Equipment Company sold 500 Rollomatics during 2008 at $6,000 each. During 2008, Crow spent $20,000 servicing the 2-year warranties that accompany the Rollomatic. All applicable...

1. Critics of CRAs assert that they are too intrusive, ineffective, and unnecessary and that they can cause as many problems as they solve. Identify the specific reasons and examples that might...

Burke Corporation was organized on January 1, 2014. It is authorized to issue 10,000 shares of 8%, $100 par value preferred stock, and 500,000 shares of no-par common stock with a stated value of $2...

Presented below is selected information related to Garryowen Company at December 31, 2015. Garryowen reports financial information monthly. Accounts Payable .......... $ 3,000 Cash ...................

Garnett Printing Corp. uses a job order cost system.The following data summarize the operations related to the first quarter??s production.1. Materials purchased on account $192,000, and factory...

Liao Manufacturing produces two keyboards, one for laptop computers and the other for desktop computers. The production process is automated, and the company has found activity-based costing useful...

Below are the financial statements for two firms, Time Warner and Walt Disney, for 2012 and 2013. a. How did Time Warner's profit margins change from 2012 to 2013? To what would you attribute the...

Deacon Company is a merchandising company that is preparing a budget for the three-month period ended June 30. The following information is available: Deacon Company Balance Sheet March 31 Assets...

(Entries for Zero-Interest-Bearing Notes) On January 1, 2011, McLean Company makes the two following acquisitions. 1. Purchases land having a fair market value of $300,000 by issuing a 5-year,...

Hearty Soup Co. uses a process cost system to record the costs of processing soup, which requires a series of three processes. Materials are entered at the beginning of the Filling process. The...

The following is a list of activities that companies perform in relation to their receivables. 1. Selling receivables to a factor. 2. Reviewing company ratings in The Dun and Bradstreet Reference...

The Farmers American Bank of Leesburg is planning to install a new computerized accounts system. Bank management has determined the activities required to complete the project, the precedence...

Use the following information for Palmer Co. to compute inventory turnover for 2013 and 2012, and its days sales in inventory at December 31, 2013 and 2012. ( Round answers to one decimal.) Comment...

The adjusted trial balance for Martell Bowling Alley at December 31, 2014, contains the accounts shown on page 198. Instructions (a) Prepare a classified balance sheet; assume that $22,000 of the...

Suppose you are a systems analyst developing a detailed test plan. Explain the testing strategies you will use in your plan. Will you use live or simulated data?

On December 1, Marzion Electronics Ltd. has three DVD players left in stock. All areidentical all are priced to sell at $150. One of the three DVD players left in stock, withserial #1012, was...

Selected account balances for Hulse Company at January 1, 2014, are presented below. Accounts Payable ........ $14,000 Accounts Receivable ....... 22,000 Cash ............... 17,000 Inventory...

The December 31, 2015, adjusted trial balance for Fightin Blue Hens Corporation is presented below. Required: 1. Prepare an income statement for the year ended December 31, 2015. 2. Prepare a...

Cedar Grove Industries produces and sells a cell phone-operated home security control. Information regarding the costs and sales of security controls during May 2017 are provided below. Unit selling...

State Bank's balance sheet is listed below. Market yields and durations (in years) are in parenthesis, and amounts are in millions. a. What is the repricing gap if the planning period is six months?...

The comparative financial statements prepared at December 31, 2012, for Prince Company showed the following summarized data: *One-third was credit sales. During 2012, cash dividends amounting to...

Mary Decker is suing the manufacturer of her car because of a defect that she believes caused her to have an accident, and kept her out of work for a year. She is suing the company for $3.5 million....

Mandy Feng employs Jay Johnson at a salary of $35,000 a year. Feng is subject to employer Social Security taxes at a rate of 6.2% and Medicare taxes at a rate of 1.45% on Johnson's salary. In...

Marty and Jean are married and have 4-year-old twins. Jean is going to school full-time for 9 months of the year, and Marty earns $45,000. The twins are in day care so Jean can go to school while...

Bank Reconciliation and Adjusting Entries the cash account of Aguilar Co. showed a ledger balance of $3,969.85 on June 30, 2010. The bank statement as of that date showed a balance of $4,150. Upon...

Closing down divisions. Belmont Corporation has four operating divisions. The budgeted revenues and expenses for each division for 2011 follows: Further analysis of costs reveals the following...

Rembrandt Paint Company had the following income statement items for the year ended December 31, 2011 ($ in 000s): In addition, during the year the company completed the disposal of its plastics...

What makes social media social isits give and take, says Jeff Gerst ofBolin Marketing, who manages theCarmex social media properties. Bygive Gerst is referring to the feedbackconsumers send on social...

Appliance Possible Inc. (AP) is a manufacturer of toaster ovens. To improve control over operations, the president of AP wants to begin using a flexible budgeting system, rather than use only the...

Pamcar Industries sells IT equipment, specialising in printers and faxes. The following statement reflects the contribution margin of each activity, and overall profit levels. Required: a. Calculate...

Record Sales Gross and Net On June 3, Bolton Company sold to Arquette Company merchandise having a sale price of $2,000 with terms of 2/10, n/60 f.o.b. shipping point. An invoice totaling $90, terms...

Theres no reason for me to get excited about the choice between the weighted-average and FIFO methods in my process-costing system. I have long term contracts with my materials suppliers at fixed...

Latta Corp. maintains its financial records on the cash basis of accounting. Interested in securing a long-term loan from its regular bank, Latta Corp. requests you as its independent CPA to convert...

Howie Stars produces stars for elementary teachers to reward their students. Howie Stars trial balance on June 1 follows: June 1 balances in the subsidiary ledgers were as follows: ¢ Materials...

Presented below is a partially completed Statement of Activities for a homeless shelter. Complete the Statement of Activities by filling in the amounts that would appear in each of the shaded areas....

1. Draw a network diagram for this project. Identify all the paths through the network diagram. 2. Simulate the completion of this project 1000 times assuming that activity times follow a triangular...

What categories of constraints to project plan implementation are noted in the chapter? Explain each of them.

Perot Corporation is developing a new CPU chip based on a new type of technology. Its new chip, the Patay2 chip, will take two years to develop. However, because other chip manufacturers will be able...

Stan Baiman owns a catering company that prepares food and beverages for banquets and parties. For a standard party the cost on a per-person basis is as follows: Food and beverages ........... $ 30...

CVP analysis, margin of safety Suppose Doral Corp.s breakeven point is revenues of $1,100,000. Fixed costs are $660,000. Required 1. Compute the contribution margin percentage. 2. Compute the selling...

Participants in a training course are often asked to evaluate the course by means of a questionnaire. What are the pros and cons of this approach? Are there better ways of evaluating a course?

Kolton Company closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end. On June 30, the Notes Receivable account balance is $23,800....

On January 1, 2014, the ledger of Hiatt Company contained these liability accounts. Accounts Payable.......... $42,500 Sales Taxes Payable........ 6,600 Unearned Service Revenue..... 19,000 During...

Why are pipelines unknown to many individuals? Do you think the pipelines should advertise to change this?

Ebersoll Mining has $6 million in sales, its ROE is 12%, and its total assets turnover is 3.2. The company is 50% equity financed. What is its net income?

Describe the governmental activities of a state or local government and identify the measurement focus and basis of accounting used in accounting and financial reporting for these activities.

Floras Fabulous Fountains (FFF) top product is its Model A. Using the information given, draw the product structure tree for the ModelA. Usage Lead Immediate per Time Beginning Parent Parent (weeks)...

Henri of Henris French Cuisine (HFC), a chain of twelve restaurants, is trying to decide if it makes sense to outsource the purchasing function. Currently, Henri employs two buyers at an annual fixed...

Below is a list of activities for Purple Cow Incorporated. Required: For each activity, indicate the impact on the accounting equation. After doing so for all transactions, ensure that the accounting...

Consider an 8% coupon bond selling for $953.10 with 3 years until maturity making annual coupon payments. The interest rates in the next 3 years will be, with certainty, r1 = 8%, r2 = 10%, and r3 =...

The inverse demand for a homogeneous- product Stackelberg duopoly is P 16,000 4Q. The cost structures for the leader and the follower, respectively, are CL(QL) = 4,000QL and CF (QF) = 6,000QF. a....

Beacon Company is considering automating its production facility. The initial investment in automation would be $15 million, and the equipment has a useful life of 10 years with a residual value of...

Sally Stanford is buying an automobile that costs $12,000. She will pay $2000 immediately and the remaining $10,000 in four annual end-of-year principal payments of $2500 each. In addition to the...

For a recent 2-year period, the balance sheet of Franklin Company showed the following stockholders' equity data at December 31 in millions. (a) Answer the following questions. (1) What is the par...

Naylor Company had $210,000 of net income in 2013 when the selling price per unit was $150, the variable costs per unit were $90, and the fixed costs were $570,000. Management expects per unit data...

You are in charge of organizing a dinner-dance concert for a local charity. You have reserved a hall that will seat 30 couples and have hired a jazz combo. a. Develop a scope statement for this...

a. 1. The statement is entitled Consolidated Balance Sheets.'' What does it mean to have a consolidate balance sheet? 2. For subsidiaries where control is present, does Kellogg have 100% ownership?...

Consider trade relations between the United States and Mexico. Assume that the leaders of the two countries believe the payoffs to alternative trade policies are as follows: a. What is the dominant...

James Mayaguez engaged in the following activities in establishing his photography studio, Picture This!: 1. Opened a bank account in the name of Picture This! and deposited $8,000 of his own money...

In Problem 34 in Chapter 1, when Tracy McCoy wakes up Saturday morning, she remembers that she promised the PTA she would make some cakes and/or homemade bread for its bake sale that afternoon....

Vincent Yarwood practices medicine under the business title Vincent Yarwood, M.D. During July, the medical practice completed the following transactions: Jul. 1 Yarwood contributed $68,000 cash to...

Abernathy Corporation was organized on January 1, 2010. It is authorized to issue 10,000 shares of 8%, $50 par value preferred stock, and 500,000 shares of no par common stock with a stated value of...

Maher Inc. reported income from continuing operations before taxes during 2012 of $790,000. Additional transactions occurring in 2012 but not considered in the $790,000 are as follows. 1. The...

1. What issues should systems analysts and programmers discuss before they proceed with the project? 2. As a systems analyst on this project, how would you describe your primary responsibilities, and...

On June 1, 20--, a depreciable asset was acquired for $6,840. The asset has an estimated useful life of six years (72 months) and no salvage value . Using the straight-line depreciation method,...

Circuit Board Fabricators, Inc. (CBF) is a small manufacturer of circuit boards located in California near San Jose. Companies such as Apple Computer and Hewlett- Packard use the company to make...

Jayzee Company manufactures a variety of products in a variety of departments and evaluates departments and departmental managers by comparing actual cost and output relative to the budget....

Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2013 are: All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first...

Piscataway Plastics Company manufactures a highly specialized plastic that is used extensively in the automobile industry. The following data have been compiled for the month of June. Conversion...

Lena Holden began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Holden (the owner) completed these transactions: a. Owner invested...

Irrigate Smart Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On February 17 of the current year, Irrigate Smart Inc. reacquired 50,000 shares of its common...

The following are the financial statements of Nosker Company. Additional data: 1. Dividends declared and paid were $20,000. 2. During the year equipment was sold for $8,500 cash. This equipment cost...

Katie Pairy Fruits Inc. has a $1,000, 20-year bond outstanding with a nominal yield of 15 percent (coupon equals 15% $1,000 = $150 per year). Assume that the current market-required interest rate on...

Sycamore Plastics (SP) is a manufacturer of polyethylene plastic pellets used as a raw material by manufacturers of plastic goods around the U. S. SP currently operates four manufacturing centers in...

A Juliet Burke, a former professional tennis star, operates Juliets Tennis Shop at the Mitchell Lake Resort. At the beginning of the current season, the ledger of Juliets Tennis Shop showed Cash...

Could managers use any of the motivation theories or approaches to encourage and support workforce diversity efforts? Explain.

Identify the basic questions with which modern trade theory is concerned.

Multiple-Choice Questions 1. When economists speak of "marginal," they mean a. Opportunity. b. Scarcity. c. Incremental. d. Unimportant. 2. Managers undertake an investment only if a. Marginal...

Sticky Polymers Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 10,750 units of...

This information relates to McCall Real Estate Agency. Journalize the transactions. Do not provide explanations. Oct. 1 Stockholders invest $30,000 in exchange for common stock of the corporation. 2...

Big Thumbs Company manufactures portable flash drives for computers. Big Thumbs incurs monthly depreciation costs of $15,000 on its plant equipment and monthly advertising costs of $3,000 to place...

The manager of the greeting card section of Harveys department store is considering her order for a particular line of holiday cards. The cost of each box of cards is $3; each box will be sold for $5...

Elston Corporation had the following stockholders' equity accounts on January 1, 2014: Common Stock ($5 par) $400,000, Paid-in Capital in Excess of Par- Common Stock $200,000, and Retained Earnings...

Cromwell Furniture Company manufactures sofas for distribution to several major retail chains. The following costs are incurred in the production and sale of sofas: a. Fabric for sofa coverings b....

The shareholders of the Pickwick Paper Company need to elect five directors. There are 200,000 shares outstanding. How many shares do you need to own to ensure that you can elect at least one...

Consider the following information for a project to add a drive-thru window at Crestview Bank. a. Draw the network diagram for this project. b. Specify the critical path. c. Calculate the slack for...

The management of Zigby manufacturing prepared the following estimated balance sheet for March, 2013: To prepare a master budget for April, May, and June of 2013, management gathers the following...