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managerial accounting
Questions and Answers of
Managerial Accounting
Assume a company has a current ratio of 2.0. List two examples of transactions that could cause the current ratio to increase. Also list two examples of transactions that could cause the current
Describe the set of circumstances that could result in net income increasing while return on investment (ROI) decreases.
Suppose a company has a relatively high inventory turnover. What does the high inventory turnover indicate about the company’s short-term liquidity?
Describe at least four financial conditions that may signal financial trouble.
Describe at least two reasons that a company’s ratios might not be comparable over time.
Describe why book value per share of common stock may not be useful for investment analysis.
Find a recent annual report for a publicly held company in which you are interested.Summarize what sustainability information is provided in that annual report. Based on the sustainability
There are three components in the triple bottom line: people, planet, and profit. Which component do you think is most important? Why?
Starbucks Corporation’s net revenues over a five year period were as follows (in millions of dollars): *• \($29,060.6\) (2021)• \($23,518.0\) (2020)• \($26,508.6\) (2019)• \($24,719.5\)
Select financial data for Starbucks Corporation is as follows (in millions of dollars):*• Current assets \($9,756.4\)• Inventory \($1,603.9\) (end of fiscal 2021) and \($1,551.4\) (end of fiscal
Healthful Living Corporation’s annual sales and net income data for the years 2017–2023 as well as the company’s 2023 and 2022 comparative income statements are presented below.Requirements:1.
Healthful Living Corporation’s income statement was presented in Summary Problem 1. The company’s balance sheets (adapted) at the end of fiscal years 2023 and 2022 are presented below.Other
Another name for a report containing sustainability information is a(n)a. environmental, social, and governance (ESG) report.b. corporate social responsibility (CSR) report.c. Botha. andb. are
All of the following represent monetary information in an environmental management accounting system excepta. gallons of waste water generated.b. costs to upgrade factory to use renewable energy
Following are the 17 UN Sustainable Development Goals (SDGs). For each goal, match the example from the right column that best illustrates that SDG. UN Sustainable Development Goal (SDG) Item Example
For each of the situations listed, identify the primary standard from the IMA Statement of Ethical Professional Practice that is violated (competence, confidentiality, integrity, or credibility). 1.
Complete the following statements with one of the terms listed here. You may use a term more than once, and some terms may not be used at all.1. _________ is the process of analyzing current and
The Jamtime Toy Manufacturing Company has an environmental goal to eliminate the use of non-recyclable packaging materials within the next five years. The company adopted this goal two years ago, so
The manufacture of appliances can produce hazardous waste. New manufacturing facilities and processes can eliminate or greatly decrease the amount of hazardous waste generated. In addition, products
Sustainability involves more than just the impact of actions on the environment. The triple bottom line recognizes that a company has to measure its impact on people, planet, and profit for its
Each of the following scenarios describes a sustainability-related cost item for organizations in recent years. For each scenario, identify which function of the value chain that cost would represent
Classify each of the following sustainability key performance indicators (KPIs) according to the balanced scorecard perspective it addresses. Choose from the following five perspectives:• Financial
In its Corporate Social Responsibility report, the Blue Giraffe Candy Company details the results from the steps it has taken to embed a sustainable culture throughout its business operations. In the
Sustainability involves more than just the impact of actions on the environment. The triple bottom line recognizes that a company has to measure its impact on the economy, the environment, and
Classify each of the following sustainability key performance indicators (KPIs) according to the balanced scorecard perspective it addresses. Choose from the following five perspectives:• Financial
This case is a continuation of the Burburr Resorts & Hotels Corporation serial case that began. The components of the Burburr serial case can be completed in any order. Burburr Resorts & Hotels
Increasingly, there are calls to manufacture hybrid or electric cars. Businesses and individuals purchase these cars to be environmentally friendly. However, there is an ongoing debate about whether
EnergyCo is an electric utility serving markets in the Midwest, Mid-Atlantic, and Southeastern regions. It operates an infrastructure of nearly 350,000 miles of distribution lines stretching across
Pressure to become more sustainable can usually be categorized into several reasons, including cost reduction and regulatory compliance. Think of an organization you’re familiar with. Which
Adding a fifth perspective of “community” to the traditional four balanced scorecard perspectives (financial, customer, internal business, and learning and growth) is sometimes advocated as a way
Information from an environmental management accounting (EMA) system can be used to support managers and their primary responsibilities of planning, directing, and controlling. Think of an
Find a recent annual report for a publicly held company in which you are interested.Summarize what sustainability information is provided in that annual report. Based on the sustainability
There are three components in the triple bottom line: economic, environmental, and social. Which component do you think is most important? Why?
Oftentimes, an investment in sustainable technology is more costly than a comparable investment in traditional technology. What arguments can you make for the investment in sustainable technology?
Stakeholders are frequently the reason that companies adopt sustainable practices.Think of an organization with which you are familiar. List as many stakeholders as you can think of for this
The chapter discussed five challenges to implementing an environmental management accounting (EMA) system within an organization. From your viewpoint, which of these challenges seems to be the
Where do you think sustainability reporting is heading in the future? Will companies become more transparent, or is sustainability reporting going to be mostly on internal reports? How important do
Classify each of the following GRI topics according to whether it addresses sustainability from an economic, environmental, or social standpoint. 1. Customer health and safety 2. Child labor 3.
Place the following activities in order from first to last to illustrate the capital budgeting process:a. Screen and analyze investments using one or more of the methods discussedb. Engage in capital
Refer to Woodsy Music in S12-10. What is the approximate internal rate of return (IRR) of the studio investment?Data From S12-10:-Woodsy Music is considering investing \($625,000\) in private lesson
For each of the situations listed, identify the primary standard from the IMA Statement of Ethical Professional Practice that is violated (competence, confidentiality, integrity, or credibility).a.
Complete the following statements with one of the terms listed here. You may use a term more than once, and some terms may not be used at all.1. An example of the _______ component of time series
Robinson Hardware is adding a new product line that will require an investment of \($1,550,000\). Managers estimate that this investment will have a 10-year life and generate net cash inflows of
Refer to Vargas Products in E12-30A. Compute the IRR of each project and use this information to identify the better investment.Data From E12-30A:-Use the NPV method to determine whether Vargas
Consider how Wolf Valley, a popular ski resort, could use capital budgeting to decide whether the \($8\) million Brook Park Lodge expansion would be a good investment.Requirements:1. Compute the
Refer to the Wolf Valley Data Set in E12-35A.Requirements:1. What is the project’s NPV? Is the investment attractive? Why or why not?2. Assume that the expansion has no residual value. What is the
A variety of robots have been featured at the National Restaurant Show that can be used for a variety of tasks in restaurants. These robots were introduced at the same time that an ongoing debate
Congratulations! You’ve won a state lotto! The state lottery offers you the following (aftertax)payout options:Requirements:Assuming that you can earn 10% on your funds, which option would you
Refer to McKnight Products in E12-51B. Compute the IRR of each project and use this information to identify the better investment.Data From E12-51B:-Use the NPV method to determine whether McKnight
Consider how Soar Mountain, a popular ski resort, could use capital budgeting to decide whether the \($9.5\) million State Park Lodge expansion would be a good investment.Requirements:1. Compute the
Refer to the Soar Mountain Data Set in E12-56B.Requirements:1. What is the project’s NPV? Is the investment attractive? Why or why not?2. Assume the expansion has no residual value. What is the
A variety of robots have been featured at the National Restaurant Show that can be used for a variety of tasks in restaurants. These robots were introduced at the same time that an ongoing debate
1. Charlie just hit the jackpot in Las Vegas and won \($30,000\)! If he invests it now, at a 14% interest rate, how much will it be worth fifteen years from now?2. Roderick would like to have
This case is a continuation of the Burburr Resorts & Hotels Corporation serial case that began.1. The components of the Burburr serial case can be completed in any order. Burburr Resorts & Hotels
For years, it has been cheaper to manufacture many products overseas (China and other countries) than in the United States. Labor is still less expensive overseas than in the United States, but the
The Habbertone Company is considering investing in a wind turbine to generate its own power. Any unused power will be sold back to the local utility company. Between cost savings and new revenues,
The Habbertone Company is considering investing in a wind turbine to generate its own power. Any unused power will be sold back to the local utility company. Between cost savings and new revenues,
The Habbertone Company is considering investing in a wind turbine to generate its own power. Any unused power will be sold back to the local utility company. Between cost savings and new revenues,
The Habbertone Company is considering investing in a wind turbine to generate its own power. Any unused power will be sold back to the local utility company. Between cost savings and new revenues,
Sonoma is considering investing in solar paneling for the roof of its large distribution facility.The investment will cost $9 million and have a six-year useful life and no residual value.Because of
Sonoma is considering investing in solar paneling for the roof of its large distribution facility. The investment will cost \($9\) million and have a six-year useful life and no residual value.
The statement of cash flows is designed to showa. the revenues the company has earned during the period.b. how profits were generated during the period.c. the inflow and outflow of cash during the
The cash proceeds from the sale of a plant asset would appear on the statement of cash flows as a(n)a. increase in the financing section.b. decrease in the financing section.c. increase in the
Dividends paid to a company’s stockholders would appear on the statement of cash flows as a(n)a. increase in the financing section.b. decrease in the financing section.c. increase in the investing
Which of the following would be classified as a decrease in the financing section of the statement of cash flows?a. Purchase of new equipmentb. Issuance of common stockc. Payoff of a long-term
When preparing the cash provided by operations section of the statement of cash flows using the indirect method, which of the following would provide cash?a. An increase in accounts receivableb. A
An increase in the Taxes Payable account from the beginning of the year to the end of year would be what type of adjustment to “net cash provided by operations” if the company uses the indirect
When preparing the cash provided by operations section of the statement of cash flows using the indirect method, which of the following would be shown as a use of cash?a. An increase in salaries
Which of the following sections will be prepared differently if the direct method is used to prepare the statement of cash flows instead of the indirect method?a. Operating activitiesb. Investing
Describe at least four needs for cash within a business.
Define an “operating activity.” List two examples of an operating activity on the statement of cash flows that would increase cash. List two examples of an operating activity that would decrease
Define an “investing activity.” List two examples of an investing activity on the statement of cash flows that would increase cash. List two examples of an investing activity that would decrease
Define a “financing activity.” List two examples of a financing activity on the statement of cash flows that would increase cash. List two examples of a financing activity that would decrease
Define a “noncash investing or financing” activity. Describe an activity that would need to be disclosed as a noncash investing or financing activity.
Describe the difference between the direct and the indirect methods of preparing the operating section of the statement of cash flows.
Describe the process for reconciling net income to the cash basis. What items are added to net income? What items are subtracted from net income?
When preparing a statement of cash flows using the indirect method, what information is needed? What documents or statements would be used?
Provide an example of an operating cash inflow that could result from sustainability activities. Also provide an example of an operating cash outflow that would support sustainability.
Think of a company with which you are familiar. Describe an investing activity related to a company’s sustainability efforts that would be classified as a use of cash on a company’s statement of
Classify each of the following transactions as an operating, investing, or financing activity.1. Selling inventory 2. Issuing stock 3. Paying dividends 4. Paying employee salaries 5. Buying a new
Assume you are in charge of preparing the operating activities section of the statement of cash flows using the indirect method. In order to reconcile the company’s net income back to the cash
Classify each of the following transactions as an operating, investing, or financing activity or a noncash investing and financing activity.1. Payment of salaries 2. Purchase of land with cash 3.
Urban Togs is a regional retailer of trend-setting clothing that is made with socially and environmentally friendly practices. The company’s income statement and comparative balance sheets are
Daniel Corporation uses the indirect method to prepare its statement of cash flows. Data related to cash activities for last year are as follows:Answer the following questions:1. What was the net
For each of the situations listed, identify the primary standard from the IMA Statement of Ethical Professional Practice that is violated (competence, confidentiality, integrity, or credibility).a.
Using the data given in E13-15A, prepare the statement of cash flows (indirect method)for Coastal Travel Services, Inc., for 2023.Data From E13-15A:-The comparative balance sheet for Coastal Travel
Using the data from E13-21A, prepare the statement of cash flows using the direct method.Data From E13-21A:-Middleton Spas provides the following data for the year just ended on December
Using the data given in E13-27B, prepare the statement of cash flows (indirect method)for Seaway Travel Services, Inc., for 2023.Data From E13-27B:-The comparative balance sheet for Seaway Travel
Using the data for E13-33B, prepare the statement of cash flows using the direct method.Data From E13-33B:-Comfort Spas provides the following data for the year just ended December 31. Payment of
The Plastic Lumber Company, Inc. (PLC) is a manufacturer that takes in post-consumer plastics (e.g., empty milk jugs) and recycles those plastics into a “plastic lumber” that can be used to build
Riverview Marine Company makes a variety of boating supplies. The controller is preparing its statement of cash flows for the most recent calendar year. A sample of the pivot table the controller
The Minnesota Scooter Company produces several types of scooters. The controller has created an Excel file from the company’s general ledger data for the past fiscal year.A sample of that Excel
The Green Giraffe Restaurant Group has 21 restaurants scattered across the Midwestern portion of the United States. Green Giraffe is not publicly held but is owned by a small group of investors.For
Suppose a company is implementing lean accounting throughout the organization.Why might standard costing not be beneficial for that company?
What advantages might a company experience if it adopts ideal standards for its direct material standards and direct labor standards? What advantages are there to using practical standards? As an
Select a product with which you are familiar. Describe what type of standards (direct material and direct labor) might be in effect for that product wherever it is produced.For each of these
Suppose a company that makes and sells spaghetti sauce in plastic jars makes a change to its bottle that allows it to use significantly less plastic in each bottle.Describe at least four ways this
Think of a company that manufactures a product. What type of standards do you think that company might have regarding its sustainability efforts? Do you think sustainability standards would be
Kelsey owns a fruit smoothie shop at the local mall. Each smoothie requires ¼ pound of mixed berries, which are expected to cost \($4\) per pound during the summer months. Shop employees are paid
Kelsey owns a fruit smoothie shop at the local mall. Each smoothie requires ¼ pound of mixed berries, which are expected to cost \($4\) per pound during the summer months. During the month of June,
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