NR 439 Week 3 Research Database Assignment Form: ACCT 504 Full Class new

ACCT 504 Full Class new

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ACCT 504 Week 1DQ 1 Financial Reporting Environment and GAAP

ACCT 504 Week 1DQ 2 Details of Financial Statements and Ratios

ACCT 504 Week 2DQ 1 - Accounting EquationAccounting Cycle

ACCT 504 Week 2DQ 2 - Accrual Accounting and Adjusting Entries

ACCT 504 Week 3DQ 1 - Merchandising Operations and Income Statements

ACCT 504 Week 3DQ 2 - Inventory Cost-Flow Assumptions

ACCT 504 Week 4DQ 1 - Understanding Internal Control and Reporting Cash

ACCT 504 Week 4DQ 2 - Accounting for and Reporting Receivables

ACCT 504 Week 5DQ 1 - Plant Assets and Intangibles

ACCT 504 Week 5DQ 2 - Accounting for Liabilities

ACCT 504 Week 6DQ 1 - Accounting for and Reporting Equity

ACCT 504 Week 6DQ 2 - Statement of Cash Flows

ACCT 504 Week 7DQ 1 - Issues in Income Reporting

ACCT 504 Week 7DQ 2 - Different Tools for Financial Analysis

ACCT 504 Course Project Oracle and Microsoft Corporation Working

ACCT 504 Week 7 Course Project JCP Kohls

ACCT504 Case Study 1 The Complete Accounting Cycle 13

ACCT504 Case Study 3 Cash Budget CT

ACCT 504 Midterm 2016

ACCT 504 New taken Final Exam

ACCT 504 Course Project Oracle and Microsoft Corporation Working

Course Project

Financial Statement Analysis Project -- A Comparative Analysis of Oracle Corporation and Microsoft Corporation

Here is the link for the financial statements for Oracle Corporation for the fiscal year ending 2007. First, select 2007 using the drop-down arrow labeled for Year on the right-hand side of the page, and then select Annual Reports using the drop-down arrow labeled Filing Type on the left-hand side of the page.

You should select the 10k dated 6/29/2007 and choose to download in PDF, Word, or Excel format.

http://www.oracle.com/us/corporate/investor-relations/sec/index.html

Here is the link for the financial statements for Microsoft Corporation for the fiscal year ending 2007. You should select the Annual report dated 8/3/2007 and choose to download in Word or Excel format.

http://www.microsoft.com/investor/SEC/default.aspx?year=2007

A sample Project template is available for download in Doc Sharing. The sample project compares the ratio performance of Tootsie Roll and Hershey using the 2007 financial statements of Tootsie Roll and Hershey provided in Appendix A and Appendix B of your textbook.

Description | Overall Requirements | Grade Information

Description

This course contains a course project where you will be required to submit one draft of the project at the end of Week 5 and the final completed project at the end of Week 7. Using the financial statements for Oracle Corporation and Microsoft Corporation, respectively, you will calculate and compare the financial ratios listed further down this document for the fiscal year ending 2007 and prepare your comments about the liquidity, solvency and profitability of the two companies based on your ratio calculations. The entire project will be graded by the instructor at the end of the final submission in week 7 and one grade will be assigned for the entire project.

Overall Requirements

For the Final Submission:

Your final Excel workbook submission should contain the following. You cannot use any other software but Excel to complete this Project.

1. A completed worksheet title page tab which is really a cover sheet with your name, my name, the class name, and the date.

2. A completed worksheet profiles tab which contains a one paragraph description regarding each company with information about their history, what products they sell, where they are located etc.

3. All 18 ratios for each company with the supporting calculations and commentary on your worksheet ratio tab. Supporting calculations must be shown either as a formula or as text typed into a different cell. The ratios are listed further down this document. Your comments for each ratio should include more than just a definition of the ratio. You should focus on interpreting each ratio number for each company and support your comments with the numbers found in the ratios.

4. The Summary and Conclusions worksheet tab which is an overall comparison of how each company compares in terms of the major category of ratios (Liquidity, Profitability, and Solvency).

5. The Bibliography worksheet tab must contain at least your textbook as a reference. Any other information you use to profile the companies should also be cited as a reference.

Required Ratios for Final Project Submission:

1. Earnings per Share

2. Current Ratio

3. Gross Profit Rate

4. Profit Margin Ratio

5. Inventory Turnover Ratio

6. Days in Inventory

7. Receivables Turnover Ratio

8. Average Collection Period

9. Asset Turnover Ratio

10. Return on Assets Ratio

11. Debt to Total Assets Ratio

12. Times Interest Earned Ratio

13. Payout ratio

14. Return on Common Stockholders' Equity Ratio

15. Free Cash Flow

16. Current Cash Debt Coverage Ratio

17. Cash Debt Coverage Ratio

18. Price/Earnings Ratio [For the purpose of this ratio, use the market price per share on June 1, 2007 for each company]

The Excel files uploaded to the Dropbox should not include any unnecessary numbers or information (such as previous years' ratios, ratios that were not specifically asked for in the project, etc.).

Please upload your final submission to the Dropbox by the end of Week 7. See Syllabus/"Due Dates for Assignments & Exams" for due date information.

For the Draft:

Create an Excel spreadsheet or use the Project template to show your computations for the first 12 ratios listed above. The more you can complete regarding the other requirements the closer you will be to completion when Week 7 arrives. Supporting calculations must be shown either as a formula or as text typed into a different cell. If you plan on creating your own spreadsheet, please follow the format provided in the Tootsie Roll and Hershey template file.

Please upload your draft submission to the Dropbox by the end of Week 5. See Syllabus/"Due Dates for Assignments & Exams" for due date information.

ACCT 504 Week 7 Course Project JCP Kohls

ACCT 504 Midterm

Question 1. Question : (TCOs A, B, and C) Which of the following statements concerning users of accounting information is incorrect?

Question 2. Question : (TCO C) Paying cash dividends is an example of a(n)

Question 3. Question : (TCO C) Buying a new plant would be an example of which type of activity?

Question 4. Question : (TCO A) On a classified balance sheet, prepaid expenses are classified as

Question 5. Question : (TCO B) For 2012, LBJ Corporation reported net income of $75,000; net sales $750,000; and weighted average shares outstanding of 7,500. There were no preferred stock dividends. What was the 2012 earnings per share?

Question 6. Question : (TCO D) Which of the following accounts has a normal balance of a credit?

Question 7. Question : (TCO E) The accrual accounting term used to indicate recording an expense before paying cash for the item is

Question 8. Question : (TCOs A and B) A periodic inventory system would most likely be used by a(n)

Question 9. Question : (TCOs A and B) LBJ Company recorded the following events involving a recent merchandise purchase.

- Received goods for $40,000, terms 2/10, n/30

- Returned $1,200 of the shipment for credit due to damaged goods

- Paid $1,000 for freight in

- Paid the invoice within the discount period

As a result of these events, the company's merchandise inventory

Question 10. Question : (TCO A) In a period of increasing prices, which of the following inventory methods generally results in the highest gross profit?

Question 11. Question : (TCO D) A classmate is considering dropping his or her accounting class because he or she cannot understand the rules of debits and credits.

Explain the rules of debits and credits in a way that will help him or her understand them. Cite examples for each of the major sections of the balance sheet (assets, liabilities and stockholders' equity) and the income statement (revenues and expenses).

Question 12. Question : (TCOs B and E) The Caltor Company gathered the following condensed data for the Year Ended December 31, 2010.

Instructions:

1: Prepare a multiple-step income statement for the year ended December 31, 2010.

2: Compute the profit margin ratio and gross profit rate. Caltor Company’s assets at the beginning of the year were $770,000 and were $830,000 at the end of the year. To qualify for full credit, you must state the formula you are using, show your computations, and explain your findings.

Question 13. Question : (TCO D and E) Please prepare the following journal entries. Indicate which account should be debited and which account should be credited, along with the dollar amount of the debit and credit.

a: Investors invest $50,000 in exchange for 1,000 shares of common stock.

b: Company purchased equipment for $10,000 on credit.

c: Company received $5,000 for services performed.

d: Company made payment on account for $2,000.

e: Company received $7,000 for services not yet performed.

Question 14. Question : (TCO D) Your friend Wendy plans to open a hair salon. Wendy states that she does not have time to develop and implement a system of internal controls.

a: Explain to Wendy the objectives of a system of internal control.

b: Explain to Wendy at least four key controls she must establish to protect herself against fraud. You should state specific internal control principles and relate your answer to her hair salon business.

ACCT 504 Final Exam

• Question 1

5 out of 5 points

Product costs:

• Question 2

Use the following information and the indirect method to calculate the net cash provided or used by operating activities:

Cash paid for purchase of plant assets $15,000

Decrease in interest payable 2,000

Depreciation expense 30,000

Gain on retirement of bonds 32,000

Increase in accounts receivable 40,000

Loss on sale of plant assets 5,000

Net Income 76,000

• Question 3

0 out of 5 points

Actual fixed overhead for Kapok Company during March was $92,780. The flexible budget for fixed overhead this period is $89,000 based on a production level of 5,000 units. If the company actually produced 4,200 units what is the fixed overhead volume variance for March?

• Question 4

5 out of 5 points

A company's income statement showed the following: net income, $124,000; depreciation expense, $30,000; and gain on sale of plant assets, $14,000. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,400; merchandise inventory increased $18,000; prepaid expenses decreased $6,200; accounts payable increased $3,400. Calculate the net cash provided or used by operating activities.

• Question 5

5 out of 5 points

Chance, Inc. sold 3,000 units of its product at a price of $72 per unit. Total variable cost per unit is $51, consisting of $32 in variable production cost and $19 in variable selling and administrative cost. Compute the manufacturing margin for the company under variable costing.

• Question 6

5 out of 5 points

A company has fixed costs of $90,000. Its contribution margin ratio is 30% and the product sells for $75 per unit. What is the company's break-even point in dollar sales?

• Question 7

5 out of 5 points

A corporation issued 300 shares of its $5 par value common stock in payment of a $1,800 charge from its accountant for assistance in filing its charter with the state. The entry to record this transaction will include:

• Question 8

5 out of 5 points

The three major cost components of a manufactured product are:

• Question 9

0 out of 5 points

The amount by which the overhead applied to jobs during a period exceeds the overhead incurred during the period is known as:

• Question 10

0 out of 5 points

Which of the following journal entries correctly records the current month's activity where $125,000 of raw material was purchased for cash, and $75,000 of direct material and $30,000 of indirect materials were used in the production process?

(A) Raw Materials Inventory 125,000

Raw Materials Inventory 105,000

Goods in Process Inventory 75,000

Factory Overhead 30,000

(B) Raw Materials Inventory 125,000

Cash 125,000

Goods in Process Inventory 75,000

Factory Overhead 30,000

Raw Materials Inventory 105,000

Cash 125,000

Raw Materials Inventory 105,000

Goods in Process Inventory 75,000

Factory Overhead 30,000

(D) Cash 125,000

Raw Materials Inventory 125,000

Goods in Process Inventory 75,000

Factory Overhead 30,000

Raw Materials Inventory 105,000

(E) Raw Materials Inventory 125,000

Cash 125,000

Goods in Process Inventory 125,000

Raw Materials Inventory 125,000

• Question 11

5 out of 5 points

Advanced Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year.

Units produced this year: 25,000 units

Units sold this year: 15,000 units

Direct Materials: $9 per unit

DIrect Labor: $11 per hour

Variable overhead: $75,000 in total

Fixed overhead: $137,500 in total

Given Advanced Company's data, compute cost per unit of finished goods under variable costing.

• Question 12

5 out of 5 points

When using the indirect method to calculate and report net cash provided or used by operating activities, which of the following is subtracted from net income?

• Question 13

5 out of 5 points

Six months ago, a company purchased an investment in stock for $65,000. This investment is considered available-for-sale. The current market value of the stock is $68,500. The company should record a:

• Question 14

5 out of 5 points

A company manufactures and sells a product for $120 per unit. The company's fixed costs are $68,760, and its variable costs are $90 per unit. The company's break-even point in units is:

• Question 15

5 out of 5 points

Bradford Company budgeted 4,000 pounds of material costing $5.00 per pound to produce 2,000 units. The company actually used 4,500 pounds that cost $5.10 per pound to produce 2,000 units.

What is the direct materials quantity variance?

• Question 16

5 out of 5 points

Montaigne Corp. has the following information about its standards and production activity in November:

Actual total factory overhead incurred $28,175

Standard factory overhead

Variable overhead $3.10 per unit produced

Fixed overhead

($12,000/6,000 estimated units to be produced) $2 per unit

Actual units produced 4,800 units

The volume variance is:

• Question 17

5 out of 5 points

A manufacturing company has a beginning finished goods inventory of $14,600, raw material purchases of $18,000, cost of goods manufactured of $32,500, and an ending finished goods inventory of $17,800. The cost of goods sold for this company is:

• Question 18

5 out of 5 points

Preferred stock is often issued:

• Question 19

0 out of 5 points

A company reports the following information for the current year which is its first year of operations.

Units produced this year ? units

Units sold this year 1,500 units

Direct materials $9 per unit

Direct labor $5 per unit

Variable overhead $7 per unit

Fixed overhead $24,000 in total

If the company's cost per unit of finished goods using absorption costing is $27, how many units were produced?

• Question 20

5 out of 5 points

A corporation issued 5,000 shares of $10 par value common stock in exchange for some land with a market value of $60,000. The entry to record this exchange is:

(A) Land 60,000

Common Stock 50,000

Contributed Capital in Excess of Par Value, Common Stock 10,000

(B) Land 60,000

Common Stock 60,000

Common Stock 50,000

(D) Common Stock 50,000

Contributed Capital in Excess of Par Value, Common Stock 10,000

Land 60,000

(E) Common Stock 60,000

Land 60,000

• Question 21

5 out of 5 points

The following data are available for a company's manufacturing activities:

Beginning goods in process inventory 5,000 units, 1/4 of the labor added this period

Units started and completed 15,000

Ending goods in process inventory 6,000 units, 1/2 the labor added this period

If materials are added when the production process begins and direct labor is applied uniformly throughout the process, what are the equivalent units for direct materials and for direct labor, respectively?

• Question 22

5 out of 5 points

Employee morale, timeliness of delivery, and the reactions of customers are examples of nonfinancial factors which should be considered when making a managerial decision.

• Question 23

5 out of 5 points

Accounting standards:

• Question 24

5 out of 5 points

A company declared a $0.50 per share cash dividend. The company has 20,000 shares authorized, 9,000 shares issued, and 8,000 shares of common stock outstanding.

(A) Retained Earnings 4,000

Common Dividends Payable 4,000

(B) Common Dividends Payable 4,000

Cash 4,000

Common Dividends Payable 4,500

(D) Common Dividends Payable 4,500

Cash 4,500

(E) Retained Earnings 5,000

Common Dividends Payable 5,000

• Question 25

5 out of 5 points

A decrease in the fair market value of a security that has not yet been realized through an actual sale of the security is called a(n):

Answer

• Question 26

5 out of 5 points

Estimated overhead and direct labor costs for the year were $112,500 and $125,000, respectively. During the year, actual overhead was $107,400 and actual direct labor cost was $120,000. The entry to close the over- or underapplied overhead at year-end, assuming an immaterial amount, would include:

• Question 27

5 out of 5 points

At acquisition, debt securities are:

• Question 28

0 out of 5 points

Vision Tester, Inc., a manufacturer of optical glass, began operations on February 1 of the current year. During this time, the company produced 900,000 units and sold 800,000 units at a sales price of $12 per unit. Cost information for this year is shown below.

Production costs

Direct materials $.80 per unit

Direct labor $.70 per unit

Variable overhead $500,000 in total

Fixed overhead $450,000 in total

Non-production costs

Variable selling and administrative $30,000 in total

Fixed selling and administrative $490,000 in total

Given this information, which of the following is true?

• Question 29

5 out of 5 points

Long-term investments can include:

• Question 30

5 out of 5 points

The following company information is available:

Direct materials used for production 36,000 gallons

Standard quality for units produced 34,400 gallons

Standard cost per gallon of direct material $6.00

Actual cost per gallon of direct material $6.10

The direct materials quantity variance is:

ACCT 504 Final Exam

(TCO A) Which one of the following is an advantage of corporations relative to partnerships and sole proprietorships?
Reduced legal liability for investors
Harder to transfer ownership
Lower taxes
Most common form of organization

(TCO A) When a corporation distributes a dividend, _____
the most common form of distribution is a cash dividend
the Dividends account will be increased with a credit
the Retained Earnings account will be directly increased with a debit
the Dividends account will be decreased with a debit

(TCOs A, B) Below is a partial list of account balances for Cerner Company

Cash $5,000
Prepaid insurance 500
Accounts receivable 2,500
Accounts payable 2,000
Notes payable 3,000
Common stock 1,000
Dividends 500
Revenues 15,000
Expenses 12,500

Under the accrual basis of accounting, revenues are recorded and reported _____.
When companies receive payments for jobs performed or products provided
When companies have provided products or performed services
When companies receive payments prior to providing products or performing services
When companies receive payments after providing products or performing services

In a period of increasing prices, which inventory cost flow assumption will result in the highest amount of net income?
LIFO
The average cost method
FIFO

Payne Corporation issues 100 twenty-year, 6%, $1,000 bonds dated July 1, 2010, at 94. The journal entry to record the issuance will show a _____.
Debit to Cash of $100,000
Credit to Bonds Payable of $94,000
Credit to Premium on Bonds Payable of $4,000
Debit to Discount on Bonds Payable of $6,000

What did Cerner Company show as total credits?
$21,500
$21,000
$20,500
$22,000

(TCOs B, E) Using accrual accounting, expenses are recorded and reported only _____.
when they are incurred, whether or not cash is paid
When they are incurred and paid at the same time
If they are paid before they are incurred
If they are paid after they are incurred

(TCO D) Three companies report the same cost of goods available for sale, but each employs a different inventory costing method. If the price of goods has increased during the period, then the company using _____
LIFO will have the highest ending inventory
FIFO will have the highest cost of goods sold
All three companies will have the same value for ending inventory
average cost will have an ending inventory value that falls between FIFO and LIFO

(TCOs A, E) Equipment with a cost of $192,000 has an estimated salvage value of $18,000 and an estimated life of 4 years or 12,000 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 3,300 hours?
$48,000
$52,500
$49,500
$43,500

(TCOs D, G) Joyce Corporation issues 1,000 ten-year, 8%, $1,000 bonds dated January 1, 2007, at 102. The journal entry to record the issuance will show a _____.
Debit to Cash of $1,020,000
Debit to Discount on Bonds Payable for $20,000
Credit to Bonds Payable for $1,020,000
Credit to Cash for $1,000,000

(TCO C) Accounts receivable arising from sales to customers amounted to $80,000 and $70,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $240,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is _____.
$240,000
$250,000
$310,000
$230,000

(TCO F) One variation of the horizontal analysis is known as _____.
nonlinear analysis
vertical analysis
trend analysis
common-size analysis

(TCO F) Comparisons of data within a company are an example of the following comparative basis.
Industry averages
Intercompany
Intracompany
Interregional

(TCO F) Which one of the following is not a characteristic generally evaluated in ratio analysis?
Liquidity
Profitability
Marketability of the product
Solvency

(TCO F) Short-term creditors are usually most interested in assessing _____.
solvency
liquidity
marketability
profitability

(TCO F) Long-term creditors are usually most interested in evaluating _____.
liquidity
marketability
profitability
solvency

(TCO G) To calculate the market value of a bond, we need to _____.
find out the present value of all of the future cash payments promised by the bond
calculate the present value of the principal only
calculate the present value of the interest only
multiply the bond price by the interest rate

(TCO A) Below you will find selected information (in millions) from Coca-Cola Co.’s 2012 Annual Report:

Required:
1. Using the information provided prepare a Balance Sheet. Separate the current assets from non-current assets and provide a total for each. Also separate the current liabilities from the non-current liabilities and provide a total for each.
2. Using the Balance Sheet from your answer above calculate; Current Ratio, Days in Inventory, Average Collection Period, Return on Assets Ratio, Debt to Total Assets and Return on common stockholders’ equity ratio. (Make sure to show all your work)

(TCO B) The following selected data was retrieved from the Wal-Mart, Inc. financial statements for the year ending January 31, 2013:

Required:

Using the information provided above:
1. Prepare a multiple-step income statement
2. Calculate the Profit Margin, and Gross profit rate for the company. Be sure to provide the formula you are using, show your calculations, and discuss your findings/results.

(TCO C) Please review the following real-world Hewlett Packard Statement of Cash flows and address the 2 questions below:

Required:

1) Please calculate the percentage increase or decrease in cash for the operating, investing, and financing sections and explain the major reasons for the increase or decrease for each of ACCT 504 Full Class new