Category Archives: ACCT 503

ACCT 503 Week 8 Course Project Celgene & Gilead Sciences Presentation (12 Slides) New

ACCT 503 Week 8 Course Project Celgene & Gilead Sciences Presentation (12 Slides) New

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ACCT 503 Week 8 Course Project Celgene & Gilead Sciences Presentation (12 Slides) New

Group Course Project: A Financial Statement Analysis

A Comparative Analysis of Celgene Corporation and Gilead Sciences, Inc.

ACCT 503 Week 1-7 All Discussion Questions New

ACCT 503 Week 1-7 All Discussion Questions New

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ACCT 503 Week 1-7 All Discussion Questions New 

 

ACCT 503 Week 1DQ 1 – Financial Reporting Environment and GAAP

 

ACCT 503 Week 1DQ 2 – Details of Financial Statements and Ratios

 

ACCT 503 Week 2DQ 1 – Accounting EquationAccounting Cycle

 

ACCT 503 Week 2DQ 2 – Accrual Accounting and Adjusting Entries

 

ACCT 503 Week 3DQ 1 – Merchandising Operations and Income Statements

 

ACCT 503 Week 3DQ 2 – Inventory Cost-Flow Assumptions

 

ACCT 503 Week 4DQ 1 – Understanding Internal Control and Reporting Cash

 

ACCT 503 Week 4DQ 2 – Accounting for and Reporting Receivables

 

ACCT 503 Week 5DQ 1 – Plant Assets and Intangibles

 

ACCT 503 Week 5DQ 2 – Accounting for Liabilities

 

ACCT 503 Week 6DQ 1 – Accounting for and Reporting Equity

 

ACCT 503 Week 6DQ 2 – Statement of Cash Flows

 

ACCT 503 Week 7DQ 1 – Issues in Income Reporting

 

ACCT 503 Week 7DQ 2 – Different Tools for Financial Analysis

ACCT 503 Final Exam (3 different finals) New

ACCT 503 Final Exam (3 different finals) New

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ACCT 503 Final Exam (3 different finals) New

 

 

1. (TCO A) Which one of the following is an advantage of corporations relative to partnerships and sole proprietorships? (Points : 5)

 

Reduced legal liability for investors

 

Harder to transfer ownership

 

Lower taxes

 

Most common form of organization

 

 

2. (TCO A) When a corporation distributes a dividend, _____. (Points : 5)

 

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

 

 

3. (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

 

 

What did Cerner Company show as total credits? (Points : 5)

 

$21,500

 

$21,000

 

$20,500

 

$22,000

 

 

4. (TCOs B, E) Using accrual accounting, expenses are recorded and reported only _____. (Points : 5)

 

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

 

 

5. (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 _____. (Points : 5)

 

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

 

 

6. (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? (Points : 5)

 

$48,000

 

$52,500

 

$49,500

 

$43,500

 

 

7. (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 _____. (Points : 5)

 

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 $1,000,0008. (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 _____. (Points : 5)

 

$240,000

 

$250,000

 

$310,000

 

$230,000

 

 

9. (TCO F) One variation of the horizontal analysis is known as _____. (Points : 5)

 

nonlinear analysis

 

vertical analysis

 

trend analysis

 

common-size analysis

 

 

10. (TCO F) Comparisons of data within a company are an example of the following comparative basis. (Points : 5)

 

Industry averages

 

Intercompany

 

Intracompany

 

Interregional

 

 

11. (TCO F) Which one of the following is not a characteristic generally evaluated in ratio analysis? (Points : 5)

 

Liquidity

 

Profitability

 

Marketability of the product

 

Solvency

 

 

12. (TCO F) Short-term creditors are usually most interested in assessing _____. (Points : 5)

 

solvency

 

liquidity

 

marketability

 

profitability

 

 

13. (TCO F) Long-term creditors are usually most interested in evaluating _____. (Points : 5)

 

liquidity

 

marketability

 

profitability

 

solvency

 

 

14. (TCO G) To calculate the market value of a bond, we need to _____. (Points : 5)

 

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

 

 

1. (TCO A) Which one of the following is an advantage of corporations relative to partnerships and sole proprietorships? (Points : 5)

 

 

 

Reduced legal liability for investors

 

Harder to transfer ownership

 

Lower taxes

 

Most common form of organization

 

 

2. (TCO A) When a corporation distributes a dividend, _____. (Points : 5)

 

 

 

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

 

 

3. (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

 

 

What did Cerner Company show as total credits? (Points : 5)

 

 

 

$21,500

 

$21,000

 

$20,500

 

$22,000

 

 

4. (TCOs B, E) A small and private company may be able to justify using a cash basis of accounting if it has _____. (Points : 5)

 

 

 

sales under $1,000,000

 

no accountants on staff

 

insignificant receivables and payables

 

all sales and purchases on account

 

 

5. (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 _____. (Points : 5)

 

 

 

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

 

 

6. (TCOs A, E) Equipment was purchased for $60,000. Freight charges amounted to $2,800 and there was a cost of $8,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $12,000 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be _____. (Points : 5)

 

 

 

$14,160

 

$11,760

 

$9,840

 

$9,600

 

 

7. (TCOs D, G) Mendez Corporation issues 2,000 ten-year, 8%, $1,000 bonds dated January 1, 2007, at 103. The journal entry to record the issuance will show a _____. (Points : 5)

 

 

 

debit to Cash of $2,000,000

 

debit to Premium on Bonds Payable for $60,000

 

credit to Bonds Payable for $2,000,000

 

credit to Cash for $2,060,000

 

 

8. (TCO C) Accounts receivable arising from sales to customers amounted to $35,000 and $40,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $120,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is_____. (Points : 5)

 

 

 

$120,000

 

$125,000

 

$155,000

 

$115,000

 

 

9. (TCO F) One variation of the horizontal analysis is known as _____. (Points : 5)

 

 

 

nonlinear analysis

 

vertical analysis

 

trend analysis

 

common-size analysis

 

 

10. (TCO F) In a common-size balance sheet, the 100% figure is _____. (Points : 5)

 

 

 

total current assets

 

total property, plant, and equipment

 

total liabilities

 

total assets

 

 

11. (TCO F) In vertical analysis, the base amount for studying salary and wages expense is generally _____. (Points : 5)

 

 

 

net sales

 

salary and wages expense in a previous year

 

gross profit

 

net income

 

 

12. (TCO F) A common measure of profitability is the _____. (Points : 5)

 

 

 

current ratio

 

current cash debt coverage ratio

 

return on common stockholder’s equity ratio

 

debt to total assets

 

 

13. (TCO F) Return-on-assets ratio is most closely related to _____. (Points : 5)

 

 

 

profit margin and debt-to-total-assets ratio

 

profit margin and asset-turnover ratio

 

times interest earned and debt-to-stockholders equity ratio

 

profit margin and free cash flow

 

 

14. (TCO G) To calculate the market value of a bond, we need to _____. (Points : 5)

 

 

 

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

 

 

1. (TCO A) An advantage of the corporate form of business is that _____. (Points : 5)

 

 

it has limited life

 

its owner’s personal resources are at stake

 

its ownership is easily transferable via the sale of shares of stock

 

it is simple to establish

 

 

2. (TCO A) When a corporation distributes a dividend, _____. (Points : 5)

 

 

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

 

 

3. (TCOs A, B) Below is a partial list of account balances for Denton Company:

 

 

Cash $7,000

 

Prepaid insurance 700

 

Accounts receivable 3,500

 

Accounts payable 2,800

 

Notes payable 4,200

 

Common stock 1,400

 

Dividends 700

 

Revenues 21,000

 

Expenses 17,500

 

 

What did Denton Company show as total credits? (Points : 5)

 

 

$30,100

 

$29,400

 

$28,700

 

$30,800

 

 

4. (TCOs B, E) A small and private company may be able to justify using a cash basis of accounting if it has _____. (Points : 5)

 

 

sales under $1,000,000

 

no accountants on staff

 

insignificant receivables and payables

 

all sales and purchases on account

 

 

5. (TCO D) In a period of increasing prices, which inventory cost flow assumption will result in the lowest amount of income tax expense? (Points : 5)

 

 

FIFO

 

LIFO

 

The average cost method

 

Income tax expense for the period will be the same under all assumptions.

 

 

6. (TCOs A, E) Equipment was purchased for $60,000. Freight charges amounted to $2,800 and there was a cost of $8,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $12,000 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be _____. (Points : 5)

 

 

$14,160

 

$11,760

 

$9,840

 

$9,600

 

 

7. (TCOs D, G) Lopez Corporation issues 500 ten-year, 8%, $1,000 bonds dated January 1, 2007, at 96. The journal entry to record the issuance will show a _____. (Points : 5)

 

 

debit to Cash of $500,000

 

credit to Discount on Bonds Payable for $20,000

 

credit to Bonds Payable for $480,000

 

debit to Cash for $480,000

 

 

8. (TCO C) Accounts receivable arising from sales to customers amounted to $35,000 and $40,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $120,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is _____. (Points : 5)

 

 

$120,000

 

$125,000

 

$155,000

 

$115,000

 

 

9. (TCO F) Which one of the following is not a tool in financial statement analysis? (Points : 5)

 

 

Horizontal analysis

 

Circular analysis

 

Vertical analysis

 

Ratio analysis

 

 

10. (TCO F) In vertical analysis, the base amount for studying salary and wages expense is generally _____. (Points : 5)

 

 

net sales

 

salary and wages expense in a previous year

 

gross profit

 

net income

 

 

11. (TCO F) Ratios are most useful in identifying _____. (Points : 5)

 

 

trends

 

differences

 

causes

 

relationships among different numbers

 

 

12. (TCO F) A common measure of liquidity is _____. (Points : 5)

 

 

return on assets

 

current ratio

 

profit margin

 

debt to equity

 

 

13. (TCO F) Return-on-assets ratio is most closely related to _____. (Points : 5)

 

 

profit margin and debt-to-total-assets ratio

 

profit margin and asset-turnover ratio

 

times interest earned and debt-to-stockholders equity ratio

 

profit margin and free cash flow

 

 

14. (TCO G) To calculate the market value of a bond, we need to _____. (Points : 5)

 

 

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

 

 

 

1. (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)

 

 

 

2. (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.

 

 

3. (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 these sections.

 

 

2) Please calculate the free cash flow for 2012 and explain the meaning of this ratio.

 

 

4. (TCO D) You are CFO of Goforit, Inc., a wholesale distribution company specializing in emerging technologies. Your CEO is a brilliant marketer, but relies on you to explain issues and choices in accounting and finance. She has heard from other members of a CEO organization to which she belongs that a company’s net income can vary widely depending on which accounting choices are made from the “GAAP menu.”

 

 

Assuming the goal is to maximize net income, choose an accounting treatment from each of the following scenarios, and explain to your CEO why the choice will produce the desired effect on reported Net Income for the current year. Include in your answer the effect of the choice on both the income statement and balance sheet.

 

 

Required:

 

 

a. Goforit carries significant electronics inventory in a competitive environment where prices are actually falling. Which inventory valuation method would you choose—LIFO, FIFO, or average cost? Assume that unit purchases exceed unit sales.

 

 

 

b. Goforit has a large investment in warehouse equipment including conveyor belts, forklifts, and automated packaging systems. Which depreciation method would you choose: Straight line (SL) or double declining balance (DDB)?

 

 

5. (TCO F) Please review the following real-world ratios for Johnson & Johnson and Pfizer for the year ended 2012 and address the 2 questions below.

 

 

…………………………………………………………………………………………………………………………………………………………………………………………

 

 

Required:

 

 

1) Please explain the meaning of each of the Pfizer ratios above.

 

 

2) Please state which company performed better for each ratio.

ACCT 503 Week 2 Homework (E2-20A, E2-21A, E3-22A, E3-23A, S3-13) (with Excel File) (Syllabus, 2020) New

ACCT 503 Week 2 Homework (E2-20A, E2-21A, E3-22A, E3-23A, S3-13) (with Excel File) (Syllabus, 2020) New

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ACCT 503 Week 2 Homework (E2-20A, E2-21A, E3-22A, E3-23A, S3-13) (with Excel File) (Syllabus, 2020) New

 

 

This Tutorial contains Excel Files which can be used to solve for any values (your Question may have different company name or values, but that can be solved using Excel file)

 

 

 

E2-20A

 

Dr Anna Grayson opened a medical practice specializing in physical therapy. During the first month of operation (May), the business, titled. Anna Grayson, Professional Corporation (P.C.), experienced the following events:

 

1.         Record the transactions in the journal of

 

Dr. Anna Grayson, P.C. List the transactions by date and give an explanation for each transaction

 

 

6         Grayson invested $138,000 in the business, which in turn issued its common stock to her.

 

 

9         The business paid cash for land costing $63,000.

 

Grayson plans to build an office building on the land.

 

12       The business purchased medical supplies for $1,500 on account.

 

15       Dr. Anna

 

P.C., officially opened for business.

 

 

15-31

 

During the rest of the month,

 

Grayson

 

treated patients and earned service revenue of

 

$9,400,

 

receiving cash for half the revenue earned.

 

15-31

 

The business paid cash expenses: employee salaries,

 

$2,800;

 

office rent,

 

$ 900$900;

 

utilities,

 

$ 900$900.

 

31       The business sold supplies to another physician for cost of

 

$400.

 

31       The business borrowed

 

30,000,

 

signing a note payable to the bank.

 

31       The business paid

 

$600

 

on account.

 

 

 

 

 

E3-22A

 

Clark Truck Rentals Company faced the following situations.

 

 

 

a.         The business has interest expense of $ 3,000

 

that it must pay early in January 2015

 

b.         Interest revenue of $4,500 has been earned but not yet received.

 

 

c.         On July 1, 2014, when the business collected $13,900 rent in advance, it debited Cash and credited Unearned Rent Revenue. The tenant was paying for two years’ rent.

 

 

d.         Salary expense is $5,500 per daylong dash—Monday through Friday dash—and

 

the business pays employees each Friday. For the purpose of this calculation, assume

 

December 31 falls on a Thursday.

 

e.         The unadjusted balance of the Supplies account is $3,000.

 

The total cost of supplies on hand is $ 1,500.

 

f.         Equipment was purchased at the beginning of this year at a cost of $120,000.

 

The equipment’s useful life is five years. There is no residual value. Record depreciation for this year and then determine the equipment’s book value.

 

 

 

 

Journalize the adjusting entry needed at December

 

31, 2014, for each situation. Consider each fact separately

 

 

 

 

 

 

E3-23A

 

The adjusted trial balance of

 

Homemade HamsHomemade Hams,

 

Inc., follows.

 

 

 

           Homemade Hams, Inc.

 

           Adjusted Trial Balance

 

           31-Dec-14

 

Account         (Amounts in thousands)

 

          

 

          

 

Cash   Debit

 

cash     4400

 

Accounts receivable   1,800

 

Inventories     2,400

 

Prepaid expenses         1,900

 

Property, plant, and equipment           16,700

 

Accumulated depreciation, property, plant, and equipment

 

Other assets     9,700

 

Accounts payable      

 

Income tax payable  

 

Other liabilities          

 

Common stock          

 

Retained earnings (beginning, December 31, 2013)

 

Dividends       1,700

 

Sales revenue

 

Cost of goods sold     25,600

 

Selling, administrative, and general expense 10,400

ACCT 503 Midterm Exam (4 Sets, 2020) New

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ACCT 503 Week 1 Homework (E117A E129B E22A E123A E124A) New

 

 

This Tutorial contains Excel Files which can be used to solve for any values (your Question may have different company name or values, but that can be solved using Excel file)

 

 

 

 

E 1-17A

 

 

CoffeeShop Doughnuts has current assets of $280 million; property, plant, and equipment of $430 million; and other assets totaling $170 million. Current liabilities are $170 million and long-term liabilities total $300 million.

 

 

1.         Use these data to write CoffeeShop Doughnuts’ accounting equation.

 

 

                                                        

 

 

2.         How much in resources does CoffeeShop have to work with?

 

 

                                                        

 

 

3.         How much does CoffeeShop owe creditors?

 

 

                                                          

 

 

4.         How much of the company’s assets do the CoffeeShop stockholders actually own?

 

 

 

 

 

 

E1-29B

 

 

Assume Chen, Inc., is expanding into France.

 

 

 

 

 

 

The company must decide where to locate and how to finance the expansion.

 

 

Requirement

 

 

Identify the financial statement where these decision makers can find the following information about Chen, Inc. In some cases, more than one statement will report the needed data.

 

 

a. Net income

 

 

b. Current liabilities

 

 

c. Cash spent to acquire the building

 

 

d. Adjustments to reconcile net income to net cash provided by operations

 

 

e. Selling, general, and administrative expenses

 

 

 

 

f. Ending cash balance

 

 

 

 

g. Ending balance of retained earnings

 

 

h. Income tax expense

 

 

i. Long-term debt

 

 

 

 

j. Revenue

 

 

k. Total assets

 

 

l. Dividends

 

 

m. Income tax payable

 

 

n. Common stock

 

 

 

 

 

 

 

 

 

 

E1-22A (similar to)

 

 

Assume the Carter Coffee Roasters Corp. ended the month of August 2015 with these data:

 

 

 

 

Requirement

 

 

1.         Prepare the income statement and the statement of retained earnings of

 

 

Carter Coffee Roasters Corp., for the month ended August 31,2015

 

 

 

 

Prepare the income statement.

 

 

Start with the heading and then complete the rest of the statement.

 

 

 

 

 

 

 

 

Part 1

 

 

Carter Coffee Roasters Corp.

 

 

 

 

Income Statement

 

 

 

 

 

 

For the Month Ended August 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

E1-23A (similar to)

 

 

Assume the Ebert Coffee Roasters Corp. ended the month of August 2015

 

 

with these data:

 

 

 

 

Requirement

 

 

1.         Prepare the balance sheet of Ebert Coffee Roasters Corp., for August 31, 2015.

 

 

 

 

 

 

First prepare the balance sheet header, then complete the assets section of the statement and finally complete the liabilities and stockholders’ equity section of the statement.

 

 

 

 

 

 

E1-24A (similar to)

 

 

Assume the Earl Coffee Roasters Corp. ended the month of August 2015

 

 

with this data:

 

 

 

 

 

 

Requirement

 

 

1.         Prepare the statement of cash flows of Earl Coffee Roasters Corp., for the month ended August 31,

 

 

 

 

Explain the relationship among the income statement, statement of retained earnings,

 

 

 

 

balance sheet, and statement of cash flows.

 

 

 

 

Explain the relationship among the income statement, statement of retained earnings, balance sheet, and statement of cash flows.

 

 

Net income on the statement of retained earnings comes directly from the

 

 

income statement

 

 

.

 

 

Ending retained earnings on the

 

 

balance sheet

 

 

 

 

comes directly from the

 

 

statement of retained earnings

 

 

.

 

 

Ending cash on the

 

 

statement of cash flows

 

 

 

 

is reported on the

 

 

balance sheet

ACCT 503 Course Project Oracle and Microsoft Corporation New

ACCT 503 Course Project Oracle and Microsoft Corporation New

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ACCT 503 Course Project Oracle and Microsoft Corporation New

 

 

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 503 Final Exam Guide (2 Set, New 2020) New

ACCT 503 Final Exam Guide (2 Set, New 2020) New

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ACCT 503 Final Exam Guide (2 Set, New 2020) New

 

 

This Tutorial contains 2 Set of Final Exam

 

Question 1.1. (TCO D) Please describe the purpose of the Income Statement and the interrelationship between the income statement and the other major financial statements that we covered in this class. In your answer, please also address which financial statements should be created before the Income Statement, if any, and which financial statements need to be completed after the Income Statement, if any. (Points : 25)

 

Question 1—Set 2

 

1. Please describe the purpose of the Balance Sheet and the interrelationship between the balance sheet and the other major financial statements that we covered in this class. In your answer, please also address which financial statements should be created before the Balance Sheet, if any, and which financial statements need to be completed after the Balance Sheet, if any

 

 

 

Question 2.2. (TCO E) Your friend, Lisa, plans to open a nail salon. Lisa states that she does not have time to develop and implement a system of internal controls.

 

(a) Explain to Lisa the components of internal control. (10 points)

 

(b) Explain to Lisa at least 5 internal control procedures she must establish to protect herself against fraud. You should state specific internal control procedures from the textbook, and relate your answer to her nail salon business. (15 points) (Points : 25)

 

Q-2-Set 2

 

2. Your friend, John, plans to open a parking garage business. John states that he does not have time to develop and implement a system of internal controls.

 

(a) Explain to John the objectives of a system of internal control.

 

(b) Explain to John at least 5 internal control procedures that he must establish to protect himself against fraud. You should state specific internal control procedures from the textbook and relate your answer to his parking garage business.

 

solution

 

 

 

 

 

Question 3. (TCO A) The following items are taken from the financial statements of PQR Company for 2013:

 

Cash $100,000

 

 

 

 

Instructions:

 

(1) Create a classified balance sheet in good form for the year ended 2013. (30 points)

 

(2) Calculate the current ratio and debt ratio and explain your findings. (6 points) (Points : 36)

 

 

 

Question 3—Set 2

 

(TCO H) Corporations in need of cash can either issue stock or bonds to raise capital. What are the differences between these two activities and why might a company choose one over the other? (Points : 20)

 

 

Q-3 Set 3

 

Question 4.4. (TCO A) The following items are taken from the financial statements of BCT Company for 2013:

 

Instructions:

 

(1) Create a classified balance sheet in good form for the year ended 2013. (30 points)

 

(2) Calculate the current ratio and debt ratio and explain your findings. (6 points) (Points : 36)

 

 

 

Question 4. (TCO B) The Caldor Company gathered the following condensed data for the year ended December 31, 2014:

 

Instructions:

 

 

(1) Prepare a multiple-step income statement for the year ended December 31, 2014. (30 points)

 

 

(2) Compute the gross margin percentage and net profit margin ratio. Caldor Company’s assets at the beginning of the year were $900,000, and the assets were $950,000 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. (6 points) (Points : 36)

 

 

 

Q-4 Set 2

 

Question 3.3. (TCO H) Simpson Inc. purchased 5, $4,000, 11% bonds of Hillsdale Corporation when the market rate of interest was 10%. Interest is paid semiannually on the bonds, and the bonds mature in 4 years.

 

 

Instructions:

 

Compute the total price paid by Simpson Inc. for the bonds showing your calculation for the present value of the principal and the present value of the interest payments.

 

 

Present value tables (Exhibit 8-14 and Exhibit 8-15) are available on pages 452 and 453 of your Harrison, Horngren, and Thomas textbook. NOTE: Be sure you review the PV Tables completely to ensure you find the correct period and interest rate for the calculation. (Points : 20)

 

 

 

Question 5. (TCO C) This is a 2-part question.

 

Part 1) Indicate which section of the statement of cash flows should contain each of the following items, and whether each item would result in an inflow or outflow of cash. The sections are Operating, Investing, and Financing. (30 points)

 

Part 2) Please explain how to calculate free cash flow and the importance of free cash flow to investors. (6 points) (Points : 36)

 

 

 

Q-5 Set 2

 

5. The Alpha Company gathered the following condensed data for the year ended December 31, 2014:

 

Instructions:

 

(1) Prepare a multiple-step income statement for the year ended December 31, 2014.

 

 

(2) Compute the gross margin percentage and net profit margin ratio. Alpha Company’s assets at the beginning of the year were $1,500,000, and the assets were $1,400,000 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 6. (TCO F) This is a 2-part question.

 

Part 1) Journalize the adjusting entries below at year-end December 31, XXXX. Please share your supporting calculations for the adjusting entries requiring computations.

 

(a) The unadjusted balance of the Supplies account is $2,200. The total cost of supplies remaining is $1,000.

 

(b) Accrued Service Revenue of $9,000.

 

(c) Equipment was purchased at the beginning of the year for $45,000. The equipment’s useful life is 5 years, and the residual value is $5,000. Record the depreciation for this year.

 

(d) The weekly payroll is $25,000. Employees are owed for 3 days of a 5-day work week.

 

(e) Beginning unearned service revenue is $7,500, and ending unearned service revenue is $3,500.

 

(f) The business has interest expense of $750 that is due in January.

 

(30 points)

 

 

 

 

Q-7

 

(TCO G) Please review the following 6 ratios for Langley Company and XYZ Inc. for the year ended 2014, and address the 2 questions below.

 

Instructions: This is a 2-part question.

 

(1) Explain the meaning of each of the Langley Company ratios above. (18 points)

 

(2) State which company performed better for each ratio. (18 points) (Points : 36)

 

 

 

Question 7 – Set 2

 

 

(TCO F) This is a 2-part question.

 

Part 1) Journalize the adjusting entries below at year-end December 31, XXXX. Please share your supporting calculations for the adjusting entries requiring computations.

 

Beginning prepaid insurance, $500. Payments for insurance during the period are $900. Ending prepaid insurance is $600.

 

(b) Interest revenue of $1,500 has been earned but not yet received.

 

(c) Accrued Service Revenue of $12,000

 

(d) The weekly payroll is $20,000. Employees are owed for 4 days of a 5-day work week.

 

The unadjusted balance of the Supplies account is $1,200. The total cost of supplies remaining is $300.

 

(f) Equipment was purchased at the beginning of the year for $25,000. The equipment’s useful life is 5 years, and the residual value is $5,000. Record the depreciation for this year.

 

 

 

Question 8.8.

 

(TCO G) Please review the following 6 ratios for Johnson Company and Lee Enterprises for the year ended 2014, and address the 2 questions below.

 

Instructions: This is a 2-part question.

 

(1) Explain the meaning of each of the Johnson Company ratios above. (18 points)

 

(2) State which company performed better for each ratio. (18 points) (Points : 36)

ACCT 503 Entire Course New

ACCT 503 Entire Course New

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ACCT 503 Entire Course New

ACCT 503 Week 1-7 All Discussion Questions

ACCT 503 Week 3 Case Study 1 Flower Landscaping Corporation

ACCT 503 Week 4 Midterm Exam Set 1

ACCT 503 Week 4 Midterm Set 2

ACCT 503 Week 4 Midterm Set 3

ACCT 503 Week 5 Case Study 2 Internal Control – LJB Company

ACCT 503 Week 5 Course Project Draft Spreadsheet

ACCT 503 Week 6 Case Study 3 – Cash Budgeting – LBJ Company

ACCT 503 Week 7 Course Project JCP Kohls

ACCT 503 Course Project Analysis of Nike, Inc. and Under Armour, Inc. New

ACCT 503 Course Project Analysis of Nike, Inc. and Under Armour, Inc. New

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ACCT 503 Course Project Analysis of Nike, Inc. and Under Armour, Inc. New

 

Course Project: A Financial Statement Analysis

 

A Comparative Analysis of Nike, Inc. and Under Armour, Inc.

Below is the link for the financial statements for Nike, Inc. for the fiscal year ending 2014. First, select 2014using the drop-down arrow labeled Year, and then select Annual Filings using the drop-down arrow labeled All.

You should select the 10k dated 7/15/2014,and choose to download in PDF, Word, or Excel format.

 

http://investors.nike.com/investors/news-events-and-reports/?toggle=filings

 

Below is the link for the financial statements for Under Armour, Inc. for the fiscal year ending 2014.

 

 

First, select Annual using the drop-down arrow labeled View, and then select 2015 using the drop-down arrow labeled Year.

 

 

 

 

You should select the 10k dated 2/20/2015, and choose to download it in PDF or Excel format.

 

 

 

 

http://www.uabiz.com/sec.cfm

 

 

 

 

A sample project template is available for download from the Course Resources page’s Course-Specific Resources section.The sample project compares the ratio performance of Tootsie Roll and Hershey using the 2014 financial statements of Tootsie Roll and Hershey provided at their websites.

 

 

 

 

          

 

 

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 Nike, Inc. and Under Armour, Inc.,respectively, you will calculate and compare the financial ratios listed further down this documentfor the fiscal year ending 2014, and prepare your comments about the two companies’performancesbased 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, the course, the date, your instructor’s name, and the title for the project.

 

 

2.         A CompletedWorksheetProfiles tab which contains a one-paragraph description regarding each company with information about their history, what products they sell, where they are located,and so forth.

 

 

3.        All 16 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.You need to specifically state which company performed better for each ratio.

 

 

4.         The Summary and ConclusionsWorksheet tab is an overall comparison of how each company compares in terms of the major category of ratios described in Chapter 13 of your textbook.A nice way to conclude is to state which company you think is the better investment and why.

 

 

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

 

 

Required Ratios for Final Project Submission

 

 

1.         Earnings per Share of Common Stock

 

 

2.         Current Ratio

 

 

3.         Gross (Profit) MarginPercentage

 

 

4.         Rate of Return (Net Profit Margin) on Sales

 

 

5.        Inventory Turnover

 

 

6.         Days’ Inventory Outstanding (DIO)

 

 

7.         Accounts Receivable Turnover

 

 

8.         Days’ Sales Outstanding (DSO)

 

 

9.         AssetTurnover

 

 

10.       Rate of Return on Total Assets (ROA)

 

 

11.       Debt Ratio

 

 

12.       Times-Interest-Earned Ratio

 

 

13.       Dividend Yield[For the purposes of this ratio, use Yahoo Finance to look up current dividend per share and stock price; just note the date that you looked up this information.]

 

 

14.      Rate of Return on Common Stockholders’ Equity (ROE)

 

 

15.       Free cash flow

 

 

16.       Price-Earnings Ratio (Multiple) [For the purpose of this ratio, for Nike, use the market price per share on May 30, 2014,and for Under Armour, use the market price per share on December 31, 2014.]

 

 

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

 

ACCT 503 Case Study 3 (Wang Appliance Store) New

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ACCT 503 Case Study 3 (Wang Appliance Store) New

 

 

Construct and use a cash budget) Nathan Farmer, chief financial officer of Wang Appliance Store, is responsible for the company?s budgeting process. Farmer?s staff is preparing the Wang cash budget for 2014. A key input to the budgeting process is last year?s statement of cash flows, which follows (amounts in thousands):

 

 

                                           Wang Appliance Store

 

 

                                         Statement of Cash Flows

 

 

                                                        2013            

 

 

                                               (in thousands)

 

 

Cash Flows from Operating Activities

 

 

Collections from customers                                                   $51,000

 

 

Interest Received                                                                          500

 

 

Purchase of inventory                                                             (36,000)

 

 

Operating expenses                                                                 (10,200)

 

 

           Net cash provided by operating activities                       5,300

 

 

Cash Flows from Investing Activities

 

 

           Purchase of equipment                                                             (3,500)

 

 

           Purchase of investments                                                             (500)

 

 

           Sale of investments                                                                     1,000

 

 

                       Net cash used for investing activities                             (3,000 )

 

 

                    

 

 

Cash Flows from Financing Activities

 

 

           Payment of long term debt                                                           (400)

 

 

           Issuance of Stock                                                                         2,000

 

 

          Payment of cash dividends                                                             (500)

 

 

                       Net cash provided by financing activities                         1,000  

 

 

Cash

 

 

Increase (decrease) in Cash                                                           3,300

 

 

Cash, beginning of year                                                        2,900

 

 

Cash, end of year                                                                           5,900

 

 

? Requirements

 

 

1. Prepare the Wang cash budget for 2014. Date the budget simply ?2014? and denote the beginning and ending cash balances as ?beginning? and ?ending.? Assume the company expects 2014 to be the same as 2013, but with the following changes:

 

 

a. In 2014, the company expects a 20% increase in collections from customers and a 30% increase in purchases of inventory.

 

 

b. There will be no sales of investments in 2014.

 

 

c. Wang does not plan to issue stock in 2014.

 

 

d. Wang plans to end the year with a cash balance of $5,550.