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financial managerial accounting

Questions and Answers of Financial Managerial Accounting

Describe the nature and treatment of product cost information for manufacturing and service companies.
Spreadsheet Assignment Mastering Excel ASAP Delivery is a small company that transports business packages between San Francisco and Los Angeles. It operates a fleet of small vans that moves packages
Spreadsheet Assignment Using Excel Kilby Company is considering the purchase of new automated manufacturing equipment that would cost $150,000. The equipment would save $42,500 in labor costs per
Ethical Dilemma Postaudit Gaines Company recently initiated a postaudit program. To motivate employees to take the program seriously, Gaines established a bonus program. Managers receive a bonus
Writing Assignment Limitations of capital investment techniques Webb Publishing Company is evaluating two investment opportunities. One is to purchase an Internet company with the capacity to open
Research Assignment Real world capital budgeting issues In recent years companies have devoted considerable time trying to decide if new software systems should be purchased. Vendors trying to sell
Group Assignment Net present value Espada Real Estate Investment Company (EREIC) purchases new apartment complexes, establishes a stable group of residents, and then sells the complexes to apartment
Business Application Case Home remodeling decision Beth and Ken Greenwood want to replace the windows in the older house they purchased recently. The company they have talked to about doing the work
Postaudit evaluation Daniel Harcrow is wondering whether he made the right decision four years ago. As the president of Harcrow Health Care Services, he acquired a hospital specializing in elder care
Comparing internal rate of return with unadjusted rate of return Byrd Corporation faces stiff market competition. Top management is considering the replacement of its current production facility. The
Applying the net present value approach with and without tax considerations Ken Cofield, the president of Ken’s Moving Services, Inc., is planning to spend $250,000 for new trucks. He expects the
Effects of straight-line versus accelerated depreciation on an investment decision American Pipe Company decided to spend $80,000 to purchase new state-of-the-art equipment for its manufacturing
Using net present value and payback period to evaluate investment opportunities Leona Rosato just won a lottery and received a cash award of $400,000 net of tax. She is 61 years old and would like to
Using net present value and internal rate of return to evaluate investment opportunities Gary Coshatt’s rich uncle gave him $100,000 cash as a gift for his 40th birthday. Unlike his spoiled cousins
Using the payback period and unadjusted rate of return to evaluate alternative investment opportunities John and Joan Services is planning a new business venture. With $200,000 of available funds to
Using present value techniques to evaluate alternative investment opportunities Moeller Automobile Repair, Inc., currently has three repair shops in Milwaukee. Derric Moeller, the president and chief
Computing the payback period and unadjusted rate of return for the same investment opportunity Guntersville Lake Marina (GLM) rents pontoon boats to customers. It has the opportunity to purchase an
Determining the unadjusted rate of return Regions Shuttle Service, Inc., is considering whether to purchase an additional shuttle van. The van would cost $20,000 and have a zero salvage value. It
Determining the payback period with uneven cash flows Alpine Snowmobile Company is considering whether to invest in a particular new snowmobile model.The model is top-of-the-line equipment for which
Determining the payback period The management team at Hillman Manufacturing Company has decided to modernize the manufacturing facility. The company can replace an existing, outdated machine with one
Evaluating discounted cash flow techniques Four years ago Lillian Todd decided to invest in a project. At that time she had projected annual net cash inflows would be $72,000. Over its expected
Determining a cash flow annuity with income tax considerations Walter Roth is considering whether to invest in a computer game machine that he would place in a hotel his brother owns. The machine
Using the internal rate of return to compare investment opportunities Gretchen Marlin has two alternative investment opportunities to evaluate. The first opportunity would cost $99,674.82 and
Determining the internal rate of return Dale Payne, CFO of Lavoy Enterprises, is evaluating an opportunity to invest in additional manufacturing equipment that will enable the company to increase its
Using the present value index Two alternative investment opportunities are available to Kevin Hand, president of Hand Enterprises.For the first alternative, the present value of cash inflows is
Determining the net present value George Logan has decided to start a small delivery business to help support himself while attending school. Mr. Logan expects demand for delivery services to grow
Determining the net present value Joan Mead, manager of the Grand Music Hall, is considering the opportunity to expand the company’s concession revenues. Specifically, she is considering whether to
Determining the present value of an annuity Ramona Oblawski is considering whether to install a drink machine at the gas station she owns. Ramona is convinced that providing a drink machine at the
Determining the present value of a lump-sum future cash receipt Elbert Colvin has a terminal illness. His doctors have estimated his remaining life expectancy as three years. Elbert has a $1,000,000
Determining the present value of a lump-sum future cash receipt One year from today Wendy Jones is scheduled to receive a $100,000 payment from a trust fund her father established. She wants to buy a
Identifying cash inflows and outflows Required Seth Gunn is considering whether to invest in a dump truck. Mr. Gunn would hire a driver and use the truck to haul trash for customers. He wants to use
Postaudit evaluation Anthony Williams is reviewing his company’s investment in a cement plant. The company paid$30,000,000 five years ago to acquire the plant. Now top management is considering an
Comparing internal rate of return with unadjusted rate of return Navari Auto Repair, Inc., is evaluating a project to purchase equipment that will not only expand the company’s capacity but also
Applying the net present value approach with and without tax considerations Henry Harper, the chief executive officer of Harper Corporation, has assembled his top advisers to evaluate an investment
Effects of straight-line versus accelerated depreciation on an investment decision Oliver Electronics is considering investing in manufacturing equipment expected to cost $184,000.The equipment has
Using net present value and payback period to evaluate investment opportunities Alex Myrick saved $400,000 during the 25 years that he worked for a major corporation. Now he has retired at the age of
Using net present value and internal rate of return to evaluate investment opportunities Renee Musgrove, the president of Musgrove Enterprises, is considering two investment opportunities.Because of
Using the payback period and unadjusted rate of return to evaluate alternative investment opportunities Norm Sartini owns a small retail ice cream parlor. He is considering expanding the business and
Using present value techniques to evaluate alternative investment opportunities Special Delivery is a small company that transports business packages between Boston and Philadelphia.It operates a
Computing the payback period and unadjusted rate of return for one investment opportunity Thornton Rentals can purchase a van that costs $24,000; it has an expected useful life of three years and no
Determining the unadjusted rate of return Davis Painting Company is considering whether to purchase a new spray paint machine that costs$3,000. The machine is expected to save labor, increasing net
Determining the payback period with uneven cash flows Rigby Company has an opportunity to purchase a forklift to use in its heavy equipment rental business.The forklift would be leased on an annual
Determining the payback period Sky Airline Company is considering expanding its territory. The company has the opportunity to purchase one of two different used airplanes. The first airplane is
Evaluating discounted cash flow techniques Lucy Hardy is angry with Larry Butler. He is behind schedule developing supporting material for tomorrow’s capital budget committee meeting. When she
Determining the cash flow annuity with income tax considerations To open a new store, Rowland Tire Company plans to invest $640,000 in equipment expected to have a four-year useful life and no
Using the internal rate of return to compare investment opportunities Dole and Nance (D&N) is a partnership that owns a small company. It is considering two alternative investment opportunities. The
Determining the internal rate of return Fertig Manufacturing Company has an opportunity to purchase some technologically advanced equipment that will reduce the company’s cash outflow for operating
Using present value index Pickering Company has a choice of two investment alternatives. The present value of cash inflows and outflows for the first alternative is $90,000 and $84,000, respectively.
Determining net present value Joseph McCoy is seeking part-time employment while he attends school. He is considering purchasing technical equipment that will enable him to start a small training
Determining net present value Airport Shuttle Company is considering investing in two new vans that are expected to generate combined cash inflows of $16,000 per year. The vans’ combined purchase
Determining the present value of an annuity The dean of the School of Social Science is trying to decide whether to purchase a copy machine to place in the lobby of the building. The machine would
Determining the present value of a lump-sum future cash receipt Gwen Warner expects to receive a $600,000 cash benefit when she retires five years from today.Ms. Warner’s employer has offered an
Determining the present value of a lump-sum future cash receipt Nolan Heth turned 20 years old today. His grandfather established a trust fund that will pay Mr. Heth$50,000 on his next birthday.
Does the net present value method provide a measure of the rate of return on capital investments?
What criteria determine whether a project is acceptable under the net present value method?
Two investment opportunities have positive net present values. Investment A’s net present value amounts to $40,000 while B’s is only $30,000. Does this mean that A is the better investment
Maria Espinosa borrowed $15,000 from the bank and agreed to repay the loan at 8 percent annual interest over four years, making payments of $4,529 per year. Because part of the bank’s payment from
Receiving $100,000 per year for five years is equivalent to investing what amount today at 14 percent? Provide a mathematical formula to solve this problem, assuming use of a present value annuity
How can present value “what-if “ analysis be enhanced by using software programs?
Define the term annuity. What is one example of an annuity receipt?
Why are present value tables frequently used to convert future values to present values?
If you wanted to have $500,000 one year from today and desired to earn a 10 percent return, what amount would you need to invest today? Which amount has more value, the amount today or the$500,000 a
How does a company establish its minimum acceptable rate of return on investments?
Define the term return on investment. How is the return normally expressed? Give an example of a capital investment return.
“A dollar today is worth more than a dollar in the future.” “The present value of a future dollar is worth less than one dollar.” Are these two statements synonymous? Explain.
What are three reasons that cash is worth more today than cash to be received in the future?
What is a capital investment? How does it differ from an investment in stocks or bonds?
Conduct a postaudit of a completed investment.
Determine the unadjusted rate of return for an investment opportunity.
Determine the payback period for an investment opportunity.
Compare capital investment alternatives.
Identify cash flows associated with an investment opportunity.
Determine and interpret the internal rate of return of an investment opportunity.
Determine and interpret the net present value of an investment opportunity.
Determine the present value of future cash flows.
Explain the time value of money concept and apply it to capital investment decisions.
Spreadsheet Assignment Mastering Excel Mantooth Manufacturing Company experienced the following accounting events during its first year of operation. With the exception of the adjusting entries for
Spreadsheet Assignment Using Excel The following transactions pertain to 2006, the first year of operations of the Barlett Company. All inventory was started and completed during 2006. Assume that
Ethical Dilemma Product cost versus selling and administrative expense Eddie Emerson is a proud woman with a problem. Her daughter has been accepted into a prestigious law school. While Ms. Emerson
Writing Assignment Emerging practices in managerial accounting The 1998 annual report of the Maytag Corporation contained the following excerpt:During the first quarter of 1996, the Company announced
Research Assignment Skills needed by managerial accountants The September 1999 issue of Strategic Finance contains the article “Counting More, Counting Less:Transformations in the Management
Group Assignment Product versus upstream and downstream costs Victor Holt, the accounting manager of Sexton, Inc., gathered the following information for 2006. Some of it can be used to construct an
Business Applications Case Financial versus managerial accounting An article in the April 12, 2004, edition of BusinessWeek, “The Costco Way—Higher Wages Mean Higher Profits” compared Costco
Value chain analysis Julie Woodley visited her personal physician for treatment of flu symptoms. She was greeted by the receptionist, who gave her personal history and insurance forms to complete.
The fraud triangle, ethics, and the Sarbanes-Oxley Act The CEO and the CFO of Automation Company were both aware that the company’s controller was reporting fraudulent revenues. Upper level
Using JIT to minimize waste and lost opportunity Laurie’s Hamburger is a small fast-food shop in a busy shopping center that operates only during lunch hours. Laurie Kemp, the owner and manager of
Using JIT to reduce inventory holding costs Cole Automobile Dealership, Inc. (CAD), buys and sells a variety of cars made by Great Motor Corporation. CAD maintains about 30 new cars in its parking
Importance of cost classification Russo Company was started when it acquired $70,000 by issuing common stock. During the first year of operations, the company incurred specifically identifiable
Service versus manufacturing companies Voger Company began operations on January 1, 2007, by issuing common stock for $75,200 cash.During 2007, Voger received $61,600 cash from revenue and incurred
Product versus general, selling, and administrative costs The following transactions pertain to 2008, the first year of operations of Pinion Company. All inventory was started and completed during
Effect of product versus general, selling, and administrative costs on financial statements Tyndal Company experienced the following accounting events during its first year of operation. With the
Product versus general, selling, and administrative costs Qazi Manufacturing Company was started on January 1, 2007, when it acquired $134,000 cash by issuing common stock. Qazi immediately purchased
Value chain analysis Fastidious Vincent washed his hair at home and then went to a barbershop for a haircut. The barber explained that shop policy is to shampoo each customer’s hair before cutting,
Applications of the Sarbanes-Oxley Act Greg Madrid, a HealthSouth billing clerk filed a suit under the False Claims Act charging that HealthSouth purchased computer equipment from a company owned by
The fraud triangle The accounting records of Masterson Manufacturing Company (MMC) revealed that the company incurred $3 million of materials, $5 million of production labor, $4 million of
Using JIT to minimize holding costs Cathy’s Beauty Salon purchases inventory supplies from a variety of vendors, some of which require a four-week lead time before delivering inventory purchases.
Using JIT to minimize waste and lost opportunity Daisy Tang is the editor-in-chief of her school’s yearbook. The school has 750 students and 50 faculty and staff members. The firm engaged to print
Effect of a just-in-time inventory system on financial statements In reviewing Crocker Company’s financial statements for the past two years, Rita King, a bank loan officer, noticed that the
Upstream and downstream costs During 2007 Moseley Pharmaceutical Company incurred $10,000,000 of research and development(R&D) costs to develop a new hay fever drug called Allergone. In accordance
Effect of product versus general, selling, and administrative cost on the income statement and statement of cash flows Each of the following asset acquisitions requires a year-end adjusting

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