There are a variety of databases and resources available that can help you with your research. Explore them to find the most effective ones. Since you are working with a public company, the Hoover’s database is a good place to start. Remember that research and information literacy are two important MBA program level skills that you are expected to demonstrate. Capstone Forum: Selecting an Organization […]
Sam is a senior auditor on the integrated audit of the Patriots Dynasty Corporation and is in charge of designing tests for the ICFR and financial statement audits. You are the staff auditor on the engagement. Sam asks you to make a start on the audit program for the human resources and payroll tests. Required: Create a chart with two columns. Column A (shown below) […]
Analytical case – complete an income statement and balance sheet using financial ratio data. Partially completed financial statements for Whittaker, Inc – December 31, 2011. follow:Sales ?Cost of goods sold ?Gross profit ?Operating expenses ?Income from operations ?Interest expense ?Income before taxes ?Income taxes (20 %) ?Net Income ?Current assets:Cash ?Accounts receivable net ?_________Total current assets …..171,000_________?__________?70,000?owners equity10,00015,000??total liabilities and owners equity ?Additional information:Financial ratios […]
On 1/1/11, Sam and Ronny form the SR partnership, with Sam contributingproperty (“Property S”) with a fair market value of $800 and an adjusted tax basis of$400, and Ronny contributing $800 cash. The SR partnership agreement includesprovisions calling for capital accounting in accordance with section 704(b),liquidating distributions in accordance with capital account balances, a qualifiedincome offset provision, and a minimum gain chargeback provision, but no […]
1. Smelly Cat Co. uses process costing to account for the production of rubber balls. Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Equivalent units have been calculated to be 12,000 units for materials and 10,000 units for conversion costs. Beginning inventory consisted of $14,000 in materials and $8,000 in conversion costs. April costs were […]
Based on the following data, what is the amount of working capital?Accounts payable………………………………………………………..$64,000Accounts receivable……………………………………………………..114,000Cash………………………………………………………………………. 70,000Intangible assets…………………………………………………………100,000Inventory…………………………………………………………………. 138,000Long-term investments…………………………………………………..160,000Long-term liabilities……………………………… ………………………200,000Short-term investments……………………………………………………80,000Notes payable (short-term)………………………………………………..56,000Property, plant, and equipment………………………………………..1,340,000Prepaid insurance…………………………………………………………….2,000$284,000$332,000$326,000$370,000 Show more
“Intermediate corporation asked for your assistance with their earnings per share calculation for the year ended 12/31/2012. They provide you with the following information. they had 500,000 shares of stock outstanding on 1/1/2012. the average market value of each share is $25 for 2012. Their net income for 2012 was $1,200,000 and their tax rate is 40%. On April 1 they issued 75,000 shares. On […]
Case Response The store takes considerable time and effort to hire employees who “fit” the company’s culture and values. This effort means additional recruiting and selection attention by HR staff and operating managers. The firm also pays higher wages than many retailers pay and offers a competitive benefits package. Incentive programs allow some hourly employees to earn extra averaging an additional 25% of base pay. […]
Southern Alliance Company needs to raise $45 million to start a new project and will raise the money by selling new bonds. The company will generate no internal equity for the foreseeable future. The company has a target capital structure of 65 percent common stock, 5 percent preferred stock, and 30 percent debt. Flotation costs for issuing new common stock are 9 percent, for new […]
Your clients, Mark Henderson and John Burton, each contributed $10,000 of cash to form the Realty Management Partnership, a limited partnership. Mark is the general partner and John is the limited partner. The partnership used the $20,000 of cash to make a down payment on a building. The rest of the building’s $200,000 purchase price was financed with an interest-only nonrecourse loan of $180,000, which […]
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