All Matches

Solution Library

Expert Answer

Textbooks

Search Textbook questions, tutors and Books

Oops, something went wrong!

Change your search query and then try again

Result Not Found

Books FREE
Tutors
Study Help
Ask a Question
AI Study Help New

Search
Sign In
Register

study help
business
managerial accounting tools for business decision making

Questions and Answers of Managerial Accounting Tools For Business Decision Making

(a) If Neer Company had net income of $300,000 in 2013 and it experienced a 24.5% increase in net income for 2014, what is its net income for 2014?(b) If 6 cents of every dollar of Neer’s revenue
The condensed financial statements of Elliott Company for the years 2013 and 2014 are presented below.ELLIOTT COMPANY Balance Sheets December 31 (in thousands)2014 2013 Current assets Cash and cash
(a) Distinguish among the following bases of comparison:intracompany, intercompany and industry averages.(b) Give the principal value of using each of the three bases of comparison.AppendixLO1
(a) Jennifer Gorman believes that the analysis of financial statements is directed at two characteristics of a company: liquidity and profitability. Is Jennifer correct? Explain.(b) Are short-term
What amount did Tootsie Roll Industries report as “Other comprehensive earnings” in 2011?By what percentage did Tootsie Roll’s “Comprehensive earnings” differ from its “Net
Hosemer Inc. has been in operation for 3 years and uses the FIFO method of pricing inventory. During the fourth year, Hosemer changes to the average-cost method for all its inventory. How will
Garvey Inc. reported 2013 earnings per share of$3.26 and had no extraordinary items. In 2014, earnings per share on income before extraordinary items was $2.99, and earnings per share on net income
Indicate which of the following items would be reported as an extraordinary item on Pitchford Corporation’s income statement.(a) Loss from damages caused by a volcano eruption in Iona.(b) Loss from
Which situation below might indicate a company has a low quality of earnings?(a) The same accounting principles are used each year.(b) Revenue is recognized when the performance obligation is satisfi
Compute the times interest earned for 2014.(a) 11.2 times. (c) 14.0 times.(b) 65.3 times. (d) 13.0 times.2014 2013 Inventory $ 54,000 $ 48,000 Current assets 81,000 106,000 Total assets 382,000
Compute the return on common stockholders’ equity for 2014.(a) 54.2%. (c) 61.2%.(b) 52.5%. (d) 59.4%.2014 2013 Inventory $ 54,000 $ 48,000 Current assets 81,000 106,000 Total assets 382,000 326,000
Compute the profit margin for 2014.(a) 17.1%. (c) 37.9%.(b) 18.1%. (d) 5.9%.2014 2013 Inventory $ 54,000 $ 48,000 Current assets 81,000 106,000 Total assets 382,000 326,000 Current liabilities 27,000
Compute the current ratio for 2014.(a) 1.26:1. (c) 0.80:1.(b) 3.0:1. (d) 3.75:1.2014 2013 Inventory $ 54,000 $ 48,000 Current assets 81,000 106,000 Total assets 382,000 326,000 Current liabilities
Compute the days in inventory for 2014.(a) 64.4 days. (c) 6 days.(b) 60.8 days. (d) 24 days.2014 2013 Inventory $ 54,000 $ 48,000 Current assets 81,000 106,000 Total assets 382,000 326,000 Current
Plano Corporation reported net income $24,000; net sales $400,000; and average assets $600,000 for 2014.What is the 2014 profit margin?(a) 6%. (c) 40%.(b) 12%. (d) 200%.AppendixLO1
Which of these is not a liquidity ratio?(a) Current ratio.(b) Asset turnover.(c) Inventory turnover.(d) Accounts receivable turnover.AppendixLO1
Which measure is useful in evaluating the efficiency in managing inventories?(a) Inventory turnover.(b) Days in inventory.(c) Both (a) and (b).(d) None of the above.AppendixLO1
Which measure is an evaluation of a company’s ability to pay current liabilities?(a) Current cash debt coverage.(b) Current ratio.(c) Both (a) and (b).(d) None of the above.AppendixLO1
Here are comparative statement data for Prince Company and King Company, two competitors. All balance sheet data are as of December 31, 2014, and December 31, 2013.Prince Company King Company 2014
The following schedule is a display of what type of analysis?Amount Percent Current assets $200,000 25%Property, plant, and equipment 600,000 75%Total assets $800,000(a) Horizontal analysis. (c)
Adams Corporation reported net sales of $300,000,$330,000, and $360,000 in the years 2012, 2013, and 2014, respectively. If 2012 is the base year, what percentage do 2014 sales represent of the
Cool Stools Corporation has income before taxes of$400,000 and an extraordinary loss of $100,000. If the income tax rate is 25% on all items, the income statement should show income before irregular
The comparative statements of Osborne Company are presented here.OSBORNE COMPANY Income Statements For the Years Ended December 31 2014 2013 Net sales $1,890,540 $1,750,500 Cost of goods sold
Condensed balance sheet and income statement data for Jernigan Corporation are presented here.JERNIGAN CORPORATION Balance Sheets December 31 2014 2013 2012 Cash $ 30,000 $ 20,000 $ 18,000 Accounts
The following financial information is for Frizell Company.FRIZELL COMPANY Balance Sheets December 31 Assets 2014 2013 Cash $ 70,000 $ 65,000 Debt investments (short-term) 55,000 40,000 Accounts
Suppose selected financial data of Target and Wal-Mart for 2014 are presented here (in millions).Target Wal-Mart Corporation Stores, Inc.Income Statement Data for Year Net sales $65,357 $408,214 Cost
Here are comparative statement data for Dean Company and Gerald Company, two competitors. All balance sheet data are as of December 31, 2014, and December 31, 2013.Dean Company Gerald Company 2014
The comparative statements of Simpson Company are shown below.SIMPSON COMPANY Income Statements For the Years Ended December 31 2014 2013 Net sales $780,000 $624,000 Cost of goods sold 440,000
You are provided with the following transactions that took place during the year.Current Free Cash Cash Cash Debt Debt Flow Coverage Coverage Transactions ($80,000) (0.7 times) (0.4 times)(a)
The comparative balance sheets for Berkler Company as of December 31 are presented below.BERKLER COMPANY Comparative Balance Sheets December 31 Assets 2014 2013 Cash $ 96,000 $ 78,000 Accounts
Data for Turner Inc. are presented in P12-9B. Further analysis reveals that accounts payable pertain to merchandise creditors.Instructions Prepare a statement of cash flows for Turner Inc. using the
The condensed balance sheet and income statement data for Symbiosis Corporation are presented below.SYMBIOSIS CORPORATION Balance Sheets December 31 2014 2013 2012 Cash $ 30,000 $ 24,000 $ 20,000
Condensed financial data of Turner Inc. follow.TURNER INC.Comparative Balance Sheets December 31 Assets 2014 2013 Cash $ 37,000 $ 33,000 Accounts receivable 57,000 41,000 Inventories 45,000 48,000
Data for Filmore Company are presented in P12-7B. Further analysis reveals the following.1 Accounts payable pertains to merchandise creditors.2 All operating expenses except for depreciation are paid
Shown below are the financial statements of Filmore Company.FILMORE COMPANY Comparative Balance Sheets December 31 Assets 2014 2013 Cash $ 25,000 $ 33,000 Accounts receivable 23,000 14,000 Inventory
Data for Mosley Company are presented in P12-5B.Instructions Prepare the operating activities section of the statement of cash flows using the direct method.AppendixLO1
Mosley Company’s income statement contained the condensed information below.MOSLEY COMPANY Income Statement For the Year Ended December 31, 2014 Service revenue $850,000 Operating expenses,
Data for Hubble Company are presented in P12-3B.Instructions Prepare the operating activities section of the statement of cash flows using the direct method.AppendixLO1
The income statement of Hubble Company is presented below.Additional information:1 Accounts receivable decreased $290,000 during the year, and inventory increased$140,000.2 Prepaid expenses increased
The following selected account balances relate to the plant asset accounts of Lazari Inc. at year-end.2014 2013 Accumulated depreciation—buildings $337,500 $300,000 Accumulated
You are provided with the following transactions that took place during a recent fiscal year.Cash Inflow, Statement of Cash Flow Outflow, or Transaction Activity Affected No Effect?(a) Purchased
You are provided with the following transactions that took place during the year.Current Free Cash Cash Cash Debt Debt Flow Coverage Coverage Transactions ($125,000) (0.5 times) (0.3 times)(a)
The comparative balance sheets for Yanik Company as of December 31 are presented below.YANIK COMPANY Comparative Balance Sheets December 31 Assets 2014 2013 Cash $ 68,000 $ 45,000 Accounts receivable
Data for Odgers Inc. are presented in P12-9A. Further analysis reveals that accounts payable pertain to merchandise creditors.Instructions Prepare a statement of cash flows for Odgers Inc. using the
Condensed financial data of Odgers Inc. follow.ODGERS INC.Comparative Balance Sheets December 31 Assets 2014 2013 Cash $ 80,800 $ 48,400 Accounts receivable 87,800 38,000 Inventory 112,500 102,850
Data for Kurtzel Company are presented in P12-7A. Further analysis reveals the following. 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for depreciation were
Presented below are the financial statements of Kurtzel Company.KURTZEL COMPANY Comparative Balance Sheets December 31 Assets 2014 2013 Cash $ 35,000 $ 20,000 Accounts receivable 20,000 14,000
Data for Thornton Company are presented in P12-5A.Instructions Prepare the operating activities section of the statement of cash flows using the direct method.AppendixLO1
Thornton Company’s income statement contained the condensed information below.THORNTON COMPANY Income Statement For the Year Ended December 31, 2014 Service revenue $970,000 Operating expenses,
Data for Paxson Company are presented in P12-3A.Instructions Prepare the operating activities section of the statement of cash flows using the direct method.AppendixLO1
The income statement of Paxson Company is presented here.PAXSON COMPANY Income Statement For the Year Ended November 30, 2014 Sales revenue $7,600,000 Cost of goods sold Beginning inventory
The following account balances relate to the stockholders’ equity accounts of Smoltz Corp. at year-end.2014 2013 Common stock, 10,500 and 10,000 shares, respectively, for 2014 and 2013 $160,800
You are provided with the following transactions that took place during a recent fiscal year.Cash Inflow, Statement of Cash Outflow, or Transaction Flow Activity Affected No Effect?(a) Recorded
The following information is taken from the 2014 general ledger of Praeger Company.Rent Rent expense $ 30,000 Prepaid rent, January 1 5,900 Prepaid rent, December 31 7,400 Salaries Salaries and wages
The following information is available for Taliaferro Corp. for 2014.Cash used to purchase treasury stock $ 48,100 Cash dividends paid 21,800 Cash paid for interest 22,400 Net income 464,300 Sales
The 2014 accounting records of Rogan Transport reveal these transactions and events.Payment of interest $ 10,000 Payment of salaries and wages $ 53,000 Cash sales 48,000 Depreciation expense 16,000
Suppose the 2014 income statement for McDonald’s Corporation shows cost of goods sold $5,178.0 million and operating expenses (including depreciation expense of$1,216.2 million) $10,725.7 million.
Metzger Company completed its first year of operations on December 31, 2014.Its initial income statement showed that Metzger had sales revenue of $198,000 and operating expenses of $83,000. Accounts
Information for two companies in the same industry, Patton Corporation and Sager Corporation, is presented here.Patton Sager Corporation Corporation Net cash provided by operating activities $ 80,000
Suppose presented below is 2014 information for PepsiCo, Inc. and The Coca-Cola Company.($ in millions) PepsiCo Coca-Cola Net cash provided by operating activities $ 6,796 $ 8,186 Average current
Shown below and on the next page are comparative balance sheets for Schmitt Company.SCHMITT COMPANY Comparative Balance Sheets December 31 Assets 2014 2013 Cash $ 68,000 $ 22,000 Accounts receivable
The three accounts shown below appear in the general ledger of Lauber Corp.during 2014.Equipment Date Debit Credit Balance Jan. 1 Balance 160,000 July 31 Purchase of equipment 70,000 230,000 Sept. 2
The following information is available for Ramos Corporation for the year ended December 31, 2014.Beginning cash balance $ 45,000 Accounts payable decrease 3,700 Depreciation expense 162,000 Accounts
The current sections of Sanford Inc.’s balance sheets at December 31, 2013 and 2014, are presented here. Sanford’s net income for 2014 was $153,000. Depreciation expense was $27,000.2014 2013
Cosi Company reported net income of $190,000 for 2014. Cosi also reported depreciation expense of $35,000 and a loss of $5,000 on the disposal of plant assets. The comparative balance sheet shows an
The information in the table is from the statement of cash flows for a company at four different points in time (A, B, C, and D). Negative values are presented in parentheses.Point in Time A B C D
Financial information for Bradford Company is presented here.BRADFORD COMPANY Balance Sheets December 31 Assets 2014 2013 Cash $ 50,000 $ 42,000 Debt investments (short-term) 80,000 50,000 Accounts
Edelman Corporation issued the following statement of cash flows for 2014.EDELMAN CORPORATION Statement of Cash Flows—Indirect Method For the Year Ended December 31, 2014 Cash flows from operating
RL Photography reported net income of $100,000 for 2014. Included in the income statement were depreciation expense of $6,300, patent amortization expense of$4,000, and a gain on disposal of plant
Morray Corporation had the following transactions. 1. Issued $160,000 of bonds payable. 2. Paid utilities expense. 3. Issued 500 shares of preferred stock for $45,000. 4. Sold land and a building for
Sellers Corporation reports operating expenses of $90,000, excluding depreciation expense of $15,000 for 2014. During the year, prepaid expenses decreased $7,200 and accrued expenses payable
Kolmer Corporation reported income taxes of $370,000,000 on its 2014 income statement and income taxes payable of $277,000,000 at December 31, 2013, and$528,000,000 at December 31, 2014. What amount
Suppose Columbia Sportswear Company had accounts receivable of $299,585,000 at January 1, 2014, and $226,548,000 at December 31, 2014. Assume sales revenue was$1,244,023,000 for the year 2014. What
The management of Unruh Inc. is trying to decide whether it can increase its dividend. During the current year, it reported net income of $875,000. It had net cash provided by operating activities of
Suppose Canwest Global Communications Corp. reported net cash used by operating activities of $104,539,000 and sales revenue of $2,867,459,000 during 2014. Cash spent on plant asset additions during
Flowers Corporation reported net cash provided by operating activities of$412,000, net cash used by investing activities of $250,000, and net cash provided by financing activities of $70,000. In
Suppose during 2014, Cypress Semiconductor Corporation reported net cash provided by operating activities of $89,303,000, cash used in investing of $43,126,000, and cash used in financing of
The T-accounts for Equipment and the related Accumulated Depreciation—Equip. for Coldsmith Company at the end of 2014 are shown here.Equipment Accum. Depr.—Equip.Beg. bal. 80,000 Disposals 22,000
The comparative balance sheets for Lowery Company show these changes in noncash current asset accounts: accounts receivable decrease $80,000, prepaid expenses increase $28,000, and inventories
The net income for Freeman Co. for 2014 was $280,000. For 2014, depreciation on plant assets was $70,000, and the company incurred a loss on disposal of plant assets of $28,000. Compute net cash
Manuel, Inc. reported net income of $2.5 million in 2014. Depreciation for the year was $160,000, accounts receivable decreased $350,000, and accounts payable decreased $280,000. Compute net cash
(a) Why is net cash provided by operating activities likely to be lower than reported net income during the growth phase?(b) Why is net cash from investing activities often positive during the late
The following T-account is a summary of the cash account of Kemper Company.Cash (Summary Form)Balance, Jan. 1 8,000 Receipts from customers 364,000 Payments for goods 200,000 Dividends on stock
Classify each item as an operating, investing, or financing activity. Assume all items involve cash unless there is information to the contrary.(a) Purchase of equipment. (d) Depreciation.(b) Sale of
Each of these items must be considered in preparing a statement of cash flows for Irvin Co. for the year ended December 31, 2014. For each item, state how it should be shown in the statement of cash
Detwiler Inc. reported sales of $2 million for 2014.Accounts receivable decreased $150,000 and accounts payable increased $300,000. Compute cash receipts from customers, assuming that the receivable
During 2014, Markowitz Company exchanged$1,700,000 of its common stock for land. Indicate how the transaction would be reported on a statement of cash flows, if at all.AppendixLO1
Why is the statement of cash flows useful?AppendixLO1
Why and how is depreciation expense reported in a statement of cash flows prepared using the indirect method?AppendixLO1
The president of Selby Company is puzzled. During the last year, the company experienced a net loss of $800,000, yet its cash increased$300,000 during the same period of time. Explain to the
Why is it necessary to convert accrual-basis net income to cash-basis net income when preparing a statement of cash flows?AppendixLO1
Based on its statement of cash flows, in what stage of the product life cycle is Tootsie Roll Industries?AppendixLO1
Diane Hollowell and Terry Parmenter were discussing the format of the statement of cash flows of Snowbarger Co. At the bottom of Snowbarger’s statement of cash flows was a separate section
(a) What are the sources (inflows) of cash in a statement of cash flows?(b) What are the uses (outflows) of cash?AppendixLO1
(a) What is a statement of cash flows?(b) Mark Paxson maintains that the statement of cash flows is an optional financial statement. Do you agree? Explain.AppendixLO1
Which of the following items is reported on a statement of cash flows prepared by the direct method?(a) Loss on disposal of plant asset.(b) Increase in accounts receivable.(c) Depreciation
The beginning balance in accounts receivable is$44,000, the ending balance is $42,000, and sales during the period are $129,000. What are cash receipts from customers?(a) $127,000. (c) $131,000.(b)
Free cash flow provides an indication of a company’s ability to:(a) generate net income.(b) generate cash to pay dividends.(c) generate cash to invest in new capital expenditures.(d) Both (b) and
The cash debt coverage is:(a) a measure of liquidity.(b) a measure of profi tability.(c) net income divided by average total liabilities.(d) a measure of solvency.AppendixLO1
The following data are available for Retique!Increase in bonds payable $100,000 Sale of investment 50,000 Issuance of common stock 60,000 Payment of cash dividends 30,000 Net cash provided by

Showing 1000 - 1100 of 2984

First
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Last

Services

Sitemap
Fun
Definitions
Become Tutor
Study Help Categories
Recent Questions
Expert Questions

Company Info

Security
Copyrights
Privacy Policy
Terms & Conditions
SolutionInn Fee
Scholarship

Get In Touch

About Us
Contact Us
Career
Jobs
FAQ
Campus Ambassador

Secure Payment

Download Our App

© 2024 SolutionInn. All Rights Reserved