ACCT 2020 Given the characteristics of useful accounting information complete each of the following statements (A+)

ACCT2020

Given the characteristics of useful accounting information complete each of the following statements.

(a) For information to be , it should have predictive or confirmatory value.

(b) gives assurance that is free from bias.

(c) means using the same accounting principles and methods from year to year within a company

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ACCT 2020 Danny’s Books & Music Inc (A+)

ACCT2020

Danny\’s Books & Music Inc. reported the following selected information at March 31.

2012

Total current assets $262,787

Total assets 439,832

Total current liabilities 293,625

Total liabilities 376,002

Cash provided by operating activities 55,472

Required:

Calculate (a) the current ratio,

(b) the debt to total assets ratio,

(c) free cash flow for March 31, 2012. The company paid dividends of $15,000 and spent $24,787 on capital expenditures.

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ACCT 2020 These selected condensed data are taken from a recent balance sheet of Bob Evans Farms (in millions of dollars) (A+)

ACCT 2020

These selected condensed data are taken from a recent balance sheet of Bob Evans Farms (in millions of dollars).

Cash $29.3

Accounts receivable 20.5

Inventories 28.7

Other current assets 24.0

Total current assets $102.5

Total current liabilities $201.2

Required:

Compute working capital

current ratio.

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ACCT 2020 The following information (in millions of dollars) is available for Limited Brands for 2007 (A+)

ACCT2020 The following information (in millions of dollars) is available for Limited Brands for 2007: Sales revenue $10,671; net income $676; preferred stock dividend $0; average shares outstanding 402 million.

Required:

Compute the earnings per share for Limited Brands for 2007.

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BUS 650 Week 2 Assignment – Return on Investment (A+ Guaranteed)

Assignments

1. Due by Day 7. Return on Investment – Education Funding. Develop a three to five page analysis on the projected return on investment for your college education and projected future employment. This analysis will consist of two parts.

Part 1: Describe how and why you made the decision to pursue a MBA. Include in that explanation calculations of expenses and opportunity costs related to that decision.

Part 2: Conduct research on your desired occupation and how much compensation (return) you expect to earn. How long will it take to pay back the return on this investment? Be sure to use the financial formulas (Net Present Value (NPV), Internal Rate of Return (IRR) and Payback) provided in Chapters 3 and 4 of your text.

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BUS 650 Week 1 Discussion – Short Term View or Long Term View (A+ Guaranteed)

Short Term View or Long Term View? After reading the first two chapters of your textbook, evaluate the following statement:

Managers should not focus on the current stock value because doing so will lead to overemphasis on short-term profits at the expense of long-term profits.

In your post, explain what is meant by this statement. Describe how management might decide whether to focus on short term or long term goals and how that decision impacts the organization. Next, using the financial balance sheet as displayed in the text, compute an example of how focusing on short term profits can be detrimental to long term profits. Share your opinion regarding whether you feel it’s a better option to focus on short term or long term goals. Use evidence from the text or external sources to support your position. Your post should be 200-250 words in length.

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BUS 650 Week 1 Discussion – The Role of Financial Management in a Firm (A+ Guaranteed)

The Role of Financial Management in a Firm. Examine the role of management as it relates to finance in a corporation. In your post, discuss the role of management by addressing the following prompts:

  • Explain the various aspects of finance that management must understand.
  • Describe why a manager needs to understand the characteristics and importance of financial markets including their liquidity, competitiveness, and efficiency.
  • Interpret the function of the Financial Balance Sheet in assisting in management’s decision making process.
  • Discuss what could happen if management does not fulfill responsibilities related to finance. Share a real world example from your own professional experience or from an external source.

 

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Chang Co. sold a copier costing $5,500 with a two-year parts warranty to a customer on August 16, 2011, for $11,000 cash (A+)

Chang Co. sold a copier costing $5,500 with a two-year parts warranty to a customer on August 16, 2011, for $11,000 cash. Chang uses the perpetual inventory system. On November 22, 2012, the copier requires on-site repairs that are completed the same day. The repairs cost $121 for materials taken from the Repair Parts Inventory. These are the only repairs required in 2012 for this copier. Based on experience, Chang expects to incur warranty costs equal to 3% of dollar sales. It records warranty expense with an adjusting entry at the end of each year.

Required:

a) Prepare journal entries to record the copier’s sale on August 16, 2011.

b) Prepare journal entries to record the adjustment on December 31, 2011 to recognize the warranty expense.

c) Prepare journal entries to record the repairs that occur in November 2012.

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For the year ended December 31, 2011, Winter Company has implemented an employee bonus program equal to 2% (A+)

For the year ended December 31, 2011, Winter Company has implemented an employee bonus program equal to 2% of winter’s net income, which employees will share equally. Winter’s net income (prebonus) is expected to be $1,000,000, and bonus expense is deducted in computing net income.

Required:

1. Compute the amount of the bonus payable to the employees at year-end

2. Prepare the journal entry at December 31, 2011, to record the bonus due the employees

3. Prepare the journal entry at January 19, 2012, to record payment of the bonus to employees.

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Kwon Co. borrows $255,000 cash on November 1, 2011, by signing a 180-day, 9% note with a face value of $255,000 (A+)

Kwon Co. borrows $255,000 cash on November 1, 2011, by signing a 180-day, 9% note with a face value of $255,000.

Required:

How much interest expense results from this note in 2011?

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