Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
Using the following balance sheet and income statement data, what is
the debt to assets ratio?
Current assets $ 14,000 Net
income $ 21,000
Current liabilities 8,000 Stockholders
equity 39,000
Average assets 80,000 Total
liabilities 21,000
Total assets 60,000
Average common shares outstanding was 10,000.
Question 14
Which of the following is not considered a measure of liquidity?
Question 15
Free cash flow provides an indication of a companys ability to
Question 16
If Morris Corporation has a negative $131 million free cash flow,
which of the following statements is most likely true?
Question 17
Accounting information should be neutral in order to enhance
Question 18
The principle that indicates that assets should be reported at the price
received to sell an asset is the
Question 19
Garrison Company prepares quarterly reports, which it distributes to
all stockholders and other entities that rely on its accounting
information. Which of the following is the best term for the key
assumption in financial reporting that Garrison is following?
Question 20
Each of the following statements is justified by a fundamental quality
or an enhancing of quality accounting. Write the letter in the blank
next to each statement corresponding to the quality involved.
------------------------------------------------------------------------------------
If Jenks applies the LCM basis, the value of the inventory reported on
the balance sheet would be
Question 15
Selection of an inventory costing method by management does not
usually depend on
Question 16
Which statement concerning lower of cost or market (LCM) is
incorrect?
Question 17
Use the following information regarding Black Company and Red
Company to answer the question Which of the following is Red
Company's "cost of goods sold" for 2014 (to the closest dollar)?
Question 18
A low number of days in inventory may indicate all of the following
except
Question 19
The LIFO reserve is
Question 20
Match the items below by entering the appropriate code letter in the
space provided.
------------------------------------------------------------------------------------
How what is the total effect of these transactions on Free Cash Flow,
Current Cash Debt Coverage, and Cash Debt Coverage respectively?
Free Current Cash Debt Cash
Debt
Cash
Flow Coverage Coverage
Question 19
All of the following statements are true regarding cash flow
presentations except
Question 20
For each of the following items, indicate by using the appropriate
code letter, how the item should be reported in the statement of cash
flows, using the indirect method.
------------------------------------------------------------------------------------
How what is the total effect of these transactions on Free Cash Flow,
Current Cash Debt Coverage, and Cash Debt Coverage respectively?
Free Current Cash Debt Cash
Debt
Cash
Flow Coverage Coverage
Question 19
All of the following statements are true regarding cash flow
presentations except
Question 20
For each of the following items, indicate by using the appropriate
code letter, how the item should be reported in the statement of cash
flows, using the indirect method.
------------------------------------------------------------------------------------
Budget Actual
Difference
Sales $ 1,400,000
Controllable margin 160,000
Total average assets 4,000,000
Fixed costs 100,000
2015 $910,000
2014 $770,000
2013 700,000
If 2013 is the base year, what is the percentage increase in sales from
2013 to 2014?
Question 17
Laser Performance Inc. has the following information available
(amount in thousands).
Sales $ 1,400,000
Controllable margin 160,000
Total average assets 4,000,000
Fixed costs 100,000
2015 $910,000
2014 $770,000
2013 700,000
If 2013 is the base year, what is the percentage increase in sales from
2013 to 2014?
Question 17
Laser Performance Inc. has the following information available
(amount in thousands).
Net Income $30,000
Average Total Liabilities 80,000
Average Current Liabilities 36,000
Cash Provided by Operations 48,000
Cash Sales 130,000
Capital Expenditures 22,000
Dividends Paid 6,000
Question 1
Which of these would cause the inventory turnover ratio to increase
the most?
Question 2
Bad Debt Expense is considered
Question 3
A trial balance proves
Question 4
Fehr Company sells merchandise on account for $5,000 to Kelly
Company with credit terms of 2/10, n/30. Kelly Company returns
$1,000 of merchandise that was damaged, along with a check to settle
the account within the discount period. What is the amount of the
check?
Question 5
A revenue generally
Question 6
A merchandiser will earn an operating income of exactly $0 when
Question 7
Smithson Corporations unadjusted trial balance includes the
following balances (assume normal balances):
Accounts Receivable $3,357,000
Allowances for Doubtful Accounts $ 63,900
$2,000
1.Describe the company that you currently work for, have previously
worked for, or would like to work for in the future. Determine at least
two (2) compelling reasons that this company should prepare and
manage a budget. Predict the two (2) most likely positive and
negative financial outcomes for this company if it properly or
improperly performs effective budgeting.
3.Propose two (2) methods and techniques that the company should
use to manage its budget over time in preparation for the fact that
budgets are ever changing. Justify your response.
Be typed, double spaced, using Times New Roman font (size 12),
with one-inch margins on all sides; references must follow APA or
school-specific format. Check with your professor for any additional
instructions.
Include a cover page containing the title of the assignment, the
students name, the professors name, the course title, and the date.
The cover page and the reference page are not included in the
required page length.
The specific course learning outcomes associated with this
assignment are: