Assume that Verizon normally sells a Samsung S9 phone for $480 and charges $60 per month for a one-year cell service contract. Assume further that on January 1, Verizon offered a special package...
On July 31, 2020, Mexico Company paid $3,000,000 to acquire all of the common stock of Conchita Incorporated, which became a division (a reporting unit) of Mexico. Conchita reported the following...
The financial statements and notes to the financial statements for Delta Air Lines and Southwest Airlines can be found online. Instructions Use information found in the companies financial reports to...
Russell Company is a pesticide manufacturer. Its sales declined greatly this year due to the passage of legislation outlawing the sale of several of Russells chemical pesticides. In the coming year,...
The Thompson Corporation, a manufacturer of steel products, began operations on October 1, 2022. The accounting department of Thompson has started the fixed-asset and depreciation schedule presented...
Each month the US Department of Agriculture produces the Retail Milk Prices Report. The report lists the retail prices of milk for selected cities. The December 2019 prices (dollars per gallon) for...
Accounting standard IAS16 Property, Plant and Equipment makes a number of recognition, measurement and disclosure requirements with regard to tangible non current assets. The term "non-current asset"...
Visscher currently expects to pay a year-end dividend of $1.99 a share (D 1 =$1.99). Visschers dividend is expected to grow at a constant rate of 5% a year, and its betais 0.8. What is the current...
1. What phase of the creative leadership model do you think is the most important and why? 2. Why do you think it is important to separate idea generation and conceptualizing from optimizing? Why is...
Evergreen Corporation (calendar-year end) acquired the following assets during the current year: *The delivery truck is not a luxury automobile. a. What is the allowable MACRS depreciation on...
Life, Inc. experienced the following events in Year 1, its first year of operation: 1. Performed counseling services for $36,000 cash. 2. On February 1, Year 1, paid $18,000 cash to rent office space...
The management of Locale Ltd is worried because the bank overdraft has increased by a substantial amount over the financial year ended 30 June 2018 despite a large profit and the introduction of...
Examine the following selected financial information for The Deal Corporation and Simple Stores, Inc., as of the end of their fiscal years ending in 2018: 1. Complete the table, calculating all the...
Hekou Industries had sales in 2019 of HK$6,800,000 and gross profit of HK$1,100,000. Management is considering two alternative budget plans to increase its gross profit in 2020. Plan A would increase...
Abercrombie & Fitch and American Eagle Outfitters (AEO) reported the following numbers (in millions except for the share price) for fiscal year 2018. Calculate the earnings per share, market-to-book...
ALG Co is launching a new, innovative product on to the market and is trying to decide on the right launch price for the product. The product?s expected life is three years. Given the high level of...
Sequel Theatre, owned by Nadia Wood, is unique as it shows only movies that are part of a theme with sequels. As at April 30, 2021, the ledger of Sequel Theatre showed the following: Cash $18,900,...
1. Identify the psychological phenomena in the minicase. Prioritize the phenomena from most important to least important. Begin your answer by defining the phenomena, and then describing their role...
Bexter Labs produces three products: A, B, and C. Bexter can sell up to 2000 units of product A, up to 2500 units of product B, and up to 800 units of product C. Each unit of product C uses two units...
1. Determine whether you can develop a more accurate estimate of overhead costs. 2. Wagner is now preparing a bid for an important order that may involve a considerable amount of repeat business. The...
Daryl Simpson is the owner of Padua Products. During the holiday season, he wants to reward his employees for their work during the year, and he has asked you to gross up their bonuses so that they...
Devin Wolf Company has the following balances in selected accounts on December 31, 2020. Accounts Receivable ...............................................$ 0 Accumulated DepreciationEquipment...
Between July 2007 and July 2008, N&N Partners LLC executed three agreements to finance the purchase of commercial equipment. The collateral securing N&N's obligations under each agreement was the...
Presented below are the comparative income and retained earnings statements for Denise Habbe Inc. for the years 2020 and 2021. The following additional information is provided: 1. In 2021, Denise...
Wong Inc., the lessee entered into two leases on July 1, 2020 with Pomerleau Corp. Both companies are public corporations following IFRS. The leases are for a large auger and a jackhammer that will...
The following data are taken from the financial statements of Rise and Shine Company. Terms of all sales are 2/10, n/30. a. For Years 2 and 3, determine (1) the accounts receivable turnover and (2)...
On January 1, McNeil Company borrows $100,000 cash by signing a four-year, 9% installment note. The note requires four equal payments consisting of accrued interest and principal on December 31 for...
Data mining is the process of using sophisticated statistical techniques to extract and analyze data from large databases to discern patterns and trends that were not previously known. The patterns...
In chapter 1, we talked about incentive and sorting effects of pay strategies. Describe the incentive and sorting effects at Merrill Lynch and how changes to the compensation strategy might affect...
1. As the Senior HR Manager at Tele-BankCo, you are asked by the banks call centre executive to evaluate whether it would be more rational to drop the investment in sophisticated recruitment and...
Harvey Ramos is a salaried exempt employee at Duodo Scales with a contract that stipulates 35 hours per week at $52,000 per year. He is married with three withholding allowances. The pay period...
Redwood Inc, which owned a parcel of land that contained dense forests, entered into a contract with Bunyon Corp. Bunyon was required to cut and remove the trees from a 40-hectare area. In exchange,...
The president of North Shore Railroad wants to obtain an overview of the companys operations, particularly with respect to comparing freight and passenger business. He has heard about "contribution"...
Stanley-Morgan Industries adopted a defined benefit pension plan on April 12, 2021. The provisions of the plan were not made retroactive to prior years. A local bank, engaged as trustee for the plan...
Garnett Jackson, the founder and CEO of Tech Tune-Ups, stared out the window as he finished his customary peanut butter and jelly sandwich, contemplating the dilemma currently facing his firm. Tech...
Cardinal Paz Corp. carries an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions. Instructions (Round...
During August 20X1, Packer Manufacturing had the following cash receipts and disbursements: Cash received from customers ................................................ $319,000 Cash received from...
Larry has severe vision problems and, in the past, he has claimed the additional standard deduction available to blind taxpayers. This year Larrys doctor prescribed a new type of contact lens that...
Use the Cash table above to show the output for the following SQL query: SELECT Account#, Balance FROM Cash WHERE Bank = Boston5 ORDER BY Amount DESC; Cash Account# Type Bank Balance Checking Boston5...
1. Whose role is it to persuade the owners on the expenditure required to implement the new standard? 2. What would you advise Jackson to do to help make the case for the improvement? 3. What...
The following amounts summarize the financial position of Grueser Computing, Inc., on September 30, 2018: During October 2018, Grueser Computing completed these transactions: a. The company received...
Moore Corporation reported the following items at December 31, 2018, and 2017: Requirements 1. Compute the companys (a) quick (acid-test) ratio and (b) days sales outstanding for 2018. Evaluate each...
Using the periodic inventory system, prepare general journal entries for the following transactions of Heidelberg Housewares (assume no GST): 1. Purchased inventory on credit for $58 200. 2. Sold...
On January 2, 2020, Crossfire acquired sound equipment for concert performances at a cost of $55,900. The rock band estimated that it would use this equipment for four years, and then sell the...
Clear Water Co. reports the following balance sheet accounts as of December 31. Prepare a classified balance sheet. Buildings... Accounts receivable. Land..... Merchandise inventory. Accounts...
Cheadle Company purchased a fleet of 20 delivery trucks for $8,000 each on January 2, 2019. It decided to use composite depreciation on a straight-line basis and calculated the depreciation from the...
Discuss the morality of Googles page-ranking algorithm. Does it systematically exclude Web pages containing opinions held only by a small segment of the population? Should every opinion on the Web be...
Zinn Corporation recently agreed to a union contract provision that guarantees a minimum wage of $1,250 per month to each direct labour employee equivalent to 125 hours of work each month. Currently,...
Boots Young owns and operates Kinetic Printing. During August, Kinetic Printing incurred the following costs in acquiring two printing presses. One printing press was new, and the other was used by a...
a. Draw a BPMN activity diagram that describes Penny's baking process. b. Prepare a UML class diagram with classes, associations, and multiplicities. c. Using the preceding case information and the...
1. Create a Financial Analysis for What SUP, Inc. as of December 31, 2019. You are to create this financial analysis as of December 31, 2019, from the information found on file ch3-02.xls. This file...
Davidson Yachts is a small company founded by two businesspeople who are friends and avid sailors. At present, they are interested in expanding the business and have asked you to review its financial...
On January 1, Year 2, PAT Ltd. acquired 90% of SAT Inc. when SAT's retained earnings were $1,000,000. There was no acquisition differential. PAT accounts for its investment under the cost method. SAT...
Windsor Company borrowed money by issuing $3,000,000 of 6% bonds payable at 102.9 on July 1, 2018. The bonds are five-year bonds and pay interest each January 1 and July 1. 1. How much cash did...
1. Should you discuss the matter first with Troy before responding to Joyce? Explain. 2. Assume Kristen is a Certified Management Accountant and member of the Institute of Management Accountants. As...
Leppard Corporation sells DVD players. The corporation also offers its customers a 4-year warranty contract. During 2020, Leppard sold 20,000 warranty contracts at $99 each. The corporation spent...
Santana Rey expects sales of Business Solutions?s line of computer workstation furniture to equal 300 workstations (at a sales price of $3,000 each) for 2019. The workstations? manufacturing costs...
Furniture Land Inc. is a producer and retailer of high-end custom-designed furniture and uses the contract-based approach to revenue recognition. The company produces only to special order and...
If a producer creates a really revolutionary new product and consumers can learn about it and purchase it at a website, is any additional marketing effort really necessary? Explain your thinking.
Last night a hotel achieved an ADR of $120.00 and total rooms revenue of $18,000. The hotel has 400 rooms available for sale, but 25 were out-of-order last night. What was the hotels RevPAR last...
Can the basic interpersonal communication model that is presented in Figure 8.1 be applied to the impersonal nature of an online forum? If so, how? How does defensive communication enter into this...
1. Which of the following is an activity in the conversion process? a. Authorize production b. Issue raw material c. Perform work d. Transfer completed work to finished goods e. All of the above are...
Recife Company just took its physical inventory. The count of inventory items on hand at the companys business locations resulted in a total inventory cost of R$300,000. In reviewing the details of...
Steiner Colleges statement of financial position for the year ended June 30, 2019, is presented here. Steiner is a private college. STEINER COLLEGE Statement of Financial Position June 30, 2019...
A total of $50,000 was allocated to a project to detect and reduce insider theft in the ZipCar auto parts store. Two alternatives identified as Y and Z are under consideration. The overall ROR on the...
Nitza Croce is an employee of Autonder, a contractor that provides governmental construction services in Washington, D.C. The current contract is for $250,000. Nitza is 22 and is paid $9.50 per hour....
The following inventory pattern has been observed in the Zahm Corporation over 12 months: Month Inventory Month Inventory Apr-16 1,544 Oct-16 1,208 May-16 1,913 Nov-16 2,467 Jun-16 2,028 Dec-16 2,101...
On January 1, the Matthews Band pays $65,800 for sound equipment. The band estimates it will use this equipment for four years and after four years it can sell the equipment for $2,000. Matthews Band...
To encourage various groups to come forward and report fraud, DoddFrank extended whistle-blowing privileges and rewards to which of the following? a. Internal auditors b. External auditors c. The CEO...
After five years of operations, Svenson?s Tutoring Clinic showed the following post-closing balances at December 31, 2019. Required Analysis Component: a. Explain why Leda Svenson, Withdrawals,...
On January 2, 2020, Direct Shoes Inc. disposed of a machine that cost $96,000 and had been depreciated $50,450. Present the journal entries to record the disposal under each of the following...
On February 1, 2020, Tessa Williams and Audrey Xie formed a partnership in Ontario. Williams contributed $80,000 cash and Xie contributed land valued at $120,000 and a small building valued at...
Spring Manufacturing Company makes two components identified as C12 and D57. Selected budgetary data for 2022 follow: The firm expects the average wage rate to be $25 per hour in 2022. Spring...
Consider the dividends and profits time series given in the U.S. economic time series data posted on the books website. Since dividends depend on profits, consider the following simple model:...
How have technological advances made electronic oversight a necessity in many companies?
On December 31, 20--, Karmansky Company needed to record its accrued wages for year-end. If December 31 is a Tuesday, then Karmansky Company must account for two days of wages. The company operates...
Cakes baked by the Freshfood Bakery are transported from the ovens to be packaged by one of three wrappers. Each wrapper can wrap an average of 120 cakes per hour (Poisson distributed). The cakes are...
If the lead time in Example 12.1 changes from one week to two weeks, how is the optimal policy affected? Does the optimal order quantity change?
In August 2009, The Walt Disney Company announced that it would acquire Marvel Entertainment, Inc., in a $4 billion cash and common stock deal. On a per-share basis, the consideration given by Disney...
Given the data in the file Stock Beta.xlsx, estimate the beta (and alpha) for Microsoft (MSFT). Do this for each criterion and each period of time to obtain a table analogous to that in the top right...
In Beckers taste for discrimination model, what is the meaning of the discrimination coefficient d? If the monetary value of d is, say, $6 for a given white employer, will that employer hire...
Julia Chaudhari is the new payroll accountant for Insulose Chemicals. She is a member of a local young professional networking organization. At a social gathering of the organization, her...
Steve Drake sells a rental house on January 1, 2018, and receives $120,000 cash and a note for $45,000 at 10 percent interest. The purchaser also assumes the mortgage on the property of $35,000....
Generic Inc. is a distributor of pharmaceutical products. Its ABC system has five activities: Activity Area Cost Driver Rate in 2018 1. Order processing S40 per order 2. Line-item ordering 3 per line...
Bretton Software had the following selected account balances at December 31, 2018 (all numbers and amounts are in thousands, except par value per share): Requirements 1. Prepare the stockholders...
Sport Pro Magazine sold 12,000 annual subscriptions on August 1, 2020, for $18 each. Prepare Sport Pros August 1, 2020, journal entry and the December 31, 2020, annual adjusting entry, assuming the...
Tatum Company has four products in its inventory. Information about the December 31, 2021, inventory is as follows: Required: 1. Determine the carrying value of inventory at December 31, 2021,...
Referring to the situation in P9.2 for Garcia Home Improvement Company, consider the following expanded data at May 31, 2020. Assume Garcia uses LIFO inventory costing. Instructions a. 1. Determine...
The bank statement for Corsens Fashion Inc. had an ending cash balance of $3,000 on July 31, 2019. On this date, the companys cash balance in the general ledger was $4,000. After comparing the bank...
The adjusted trial balance for Bayside Realty, Inc., at November 30, 2018, follows: Requirements 1. Prepare Bayside Realty?s income statement and statement of retained earnings for the year ended...
1. Assuming Doug has another account set aside for emergencies, how much can he withdraw on a monthly basis to supplement his retirement annuity if his investments return 5 percent annually and he...
Analyze each transaction in Exercise 4-6 by indicating its effects on the income statement specifically, identify the accounts and amounts (including + or ) for each transaction. Exercise 4-6 Allied...
Based on Charnes and Cooper (1955). A small company is trying to determine employee salary based on the following attributes: effectiveness, responsibility, initiative, experience, education,...
Marlo, a publicly held corporation with a 21 percent tax rate, has agreed to pay an annual salary of $1.3 million to its employee, Mrs. Ryman. In each of the following cases, compute Marlo's...
Philadelphia, Inc. (a Greek company) has a foreign subsidiary in Morocco, whose manager is evaluated on the basis of profit in euros (EUR). In the current year, the foreign subsidiary was budgeted to...
Smoke and Mirrors currently has EBIT of $25,000 and is all-equity financed. EBIT is expected to stay at this level indefinitely. The firm pays corporate taxes equal to 21% of taxable income. The...
The financial statements of P&G are presented in Appendix B. The companys complete annual report, including the notes to the financial statements, is available online. Instructions Refer to P&Gs...
It is October 16, 2020, and you have just taken over the accounting work of Saskan Enterprises, whose annual accounting period ends each October 31. The company?s previous accountant journalized its...
Binu is performing tests of controls in the purchases cycle of Oakland Hardware Company. Based on the audit firm guidelines, a sample size of 50 purchases is selected from the cash disbursements...
The following audit procedures are included in the audit program for the audit of the financial statements of Golden State Overnight Express: 1. Select a sample of acquisitions from the acquisitions...