Premium Essay

Acc 102 - Assignment 2

In: Business and Management

Submitted By justine522
Words 1192
Pages 5
Exercise 14.1
Selected information taken from the financial statements of Maxum Company for two successive years follows. You are to compute the percentage change from 2010 to 2011 whenever possible. Round all calculations to the nearest whole percentage. 2010 2011 a. Accounts receivable…………………………………………… $126,000 $160,000 b. Marketable securities………………………………...……….. - 0 - 250,000 c. Retained earnings………………………………...…………… 80,000 (80,000) d. Notes receivable……………………………………..……….. 120,000 - 0 - e. Notes payable…………………………………………………. 870,000 800,000 f. Cash………………………………………………………..…... 84,000 80,000 g. Sales………………………………………………………...….. 970,000 910,000

a. (126,000-160,000) / 160,000 x 100 = -21% b. (0-250,000) / 250,000 x 100 = -100% c. Computation of the percentage change is not appropriate. d. Computation of the percentage change is not appropriate. e. (870,000-800,000) / 800,000 x 100 = 9% f. (84,000-80,000) / 80,000 x 100 = 5% g. (970,000-910,000) / 910,000 x 100 = 7%

Exercise 14.2
Compute trend percentages for the following items taken from the financial statements of Lopez Plumbing over a five-year period. Treat 2007 as the base year. State whether the trends are favorable or unfavorable. (Dollar amounts are stated in thousands).
-------------------------------------------------
2011 2010 2009 2008 2007
Sales……………………….. $81,400 $74,000 $61,500 $59,000 $50,000
Cost of goods sold……….. 58,500 48,000 40,500 37,000 30,000

------------------------------------------------- 2011 2010 2009 2008 2007
Sales……………………….. 163% 148% 123% 118%
Cost of goods sold……….. 195% 160% 135% 123% Favorable Favorable Favorable Favorable

Problem 14.6A
Shown below is selected information from the…...

Similar Documents

Premium Essay

Acc 380 Week 2 Assignment

...GASB Article: Statement No. 49 Acc 380 July, 2013 GASB Article Statement No. 49 Before diving directly into the article from the Governmental Accounting Standards Board (GASB) titled Governments to Report Liabilities Connected with Their Obligations to Clean Up Pollution (2006), one must first take a step back and take time to read, comprehend, and take to heart exactly what this organization stands for. Taken directly from their main web page under the tab labeled Education, the first thing seen in big, bold, blue letters is, “Due Process: The GASB Is Listening” followed by a definition of what listening means, “to hear with thoughtful attention”. When researching a little more into the GASB, it is easy to see how crucial listening truly is for them in order to fully accomplish their mission, which is basically to fully, and carefully consider all issues in regards to the protection of their constituents. Now that the GASB has been explained a little which providing an understanding of the position of the GASB, it is, at this point, appropriate to explain the details and specifics of the of the aforementioned article. The article discusses the apparent need for stricter regulations for state and local governments in regards to reporting and estimating the treatment of pollution and its costs; the article stated that as of December 2006, there is not a specific set of guidance set up for governments to utilize, stating that is the source of a lot of issues (para. 1)....

Words: 1049 - Pages: 5

Free Essay

Cmis 102 Homework 2

...Homework Assignment #2 Analysis Input: The input of this program will consist of the base price (BasePrice), the operating system choice (OSChoice), the monitor choice (MonitorChoice), and the case choice (CaseChoice). After the user has made all of the required choices, the program will determine the appropriate cost of that option: OSCost, MonitorCost, and CaseCost. Output: The required output for the program will be the total cost (TotalCost) of the state of the art gaming computer. The program will then determine the total cost of the state of the art gaming computer by using the following computation: TotalCost = BasePrice+OSCost+MonitorCost+CaseCost. Variables: BasePrice // The cost of the computer prior to the user deciding on the three options OSChoice // The operating system selected by the user Win7 // Windows 7 Home Premium Win8 // Windows 8.1 RedHat // Red Hat Linux 9.0 Personal MonitorChoice // The monitor selected by the user Asus // Asus 23.6” LED ViewSonic // ViewSonic 20” LED Acer // Acer 23” LCD CaseChoice // The case selected by the user Thermal // Thermaltake Gaming Case Rosewill // Rosewill Black Gaming Case NZXT // NZXT Guardian Gaming Case OSCost // The cost of the selected operating system MonitorCost // The cost of the selected monitor CaseCost // The cost of the selected case TotalCost // The total cost of the gaming system Design Input the base price of the computer Calculate user selected options to add the......

Words: 735 - Pages: 3

Free Essay

Cmis 102 Assignment 2

...total square footage of our four-bedroom house (Area RM1 + Area RM2 + Area RM3 + Area RM4 = Total Square Footage). Design: Calculate the Total Square Footage of a 4-Bedroom House written in Psuedocode: Calculate Square Footage of each room: Room One: 1. display “LR1” 2. get length “14” 3. display “WR1” 4. get width “20” 5. calculate area = length x width “14 * 20” 6. display area “AR1” 7. get “280” 8. stop Room Two: 1. display “LR2” 2. get length “12” 3. display “WR2” 4. get width “13” 5. calculate area = length x width “12 * 13” 6. display area “AR2” 7. get “156” 8. stop Room Three: 1. display “LR3” 2. get length “14” 3. display “WR3” 4. get width “16” 5. calculate area = length x width “14 * 16” 6. display area “AR3” 7. get “224” 8. stop Room Four: 1. display “LR4” 2. get length “20” 3. display “WR4” 4. get width “16” 5. calculate area = length x width “20 * 16” 6. display area “AR4” 7. get “320” 8. stop Calculate Total Square Footage of the house by combining the square footage of each room. 1. display “AR1, AR2, AR3, AR4” 2. get “280, 156, 224, 320” 3. calculate Total Square Footage = AR1 + AR2 + AR3 + AR4 “280+156+224+320=T” 4. display total “T” 5. get “980” 6. stop A flow chart has been created to help understand the program creation in a different view: To make sure that we get......

Words: 843 - Pages: 4

Premium Essay

Acc 291 Week 2 Individual Wileyplus Assignment

...In this file ACC 291 Week 2 Individual WileyPLUS Assignment you can find right answers on the following questions: 1. Exercise E8-3. The ledger of Hixson Company at the end of the current year shows Accounts Receivable $120,000, Sales $840,000, and Sales Returns and Allowances $30,000. 2. Exercise BE9-13. Correct. Information related to plant assets, natural resources, and intangibles at the end of 2011 for Spain Company is as follows: buildings $1,100,000; accumulated depreciation-buildings $650,000; goodwill $410,000; coal mine $500,000; accumulated depletion-coal mine $108,000. Complete the partial balance sheet of Spain Company for these items. (List assets with smallest net book value first. Enter all amounts as positive amounts and subtract where necessary.) 3. Exercise Do It! 9. Match the statement with the term most directly associated with it. 4. Exercise E9-9. Presented below are selected transactions at Ingles Company for 2011. Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of. Ingles Company uses straight-line depreciation.(For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.) 5. Exercise E9-10. Beka Company owns equipment that cost $50,000 when purchased on January 1, 2008. It has been depreciated using the straight-line method based on estimated salvage value of $5,000 and an estimated useful life of 5......

Words: 375 - Pages: 2

Free Essay

Cmis 102 Assignment 1

...Jeremy Lovell CMIS 102 7987 Introduction to Problem Solving and Algorithm Design (2152) Bryan Nilsen 29 March 2015 NLT: 11:59 PM Program Description: This program will calculate the total usable square feet of a house by multiplying the length of width of each room and add up the product of each room to give the total square feet. Analysis: I know to calculate square feet of a room you have to multiply the length and width. Since the house has multiple rooms to get the total square feet you have to add the square feet of each room to get the total. I decide to create the input simple by giving the variables names that are easily identifiable. L stands for Length and W stands for Width, RM stands for room which is the product of the corresponding Length and Width. Finally SgFT is the sum of all three RMs. I used these variable names to easily see within the program where I get there data values. Test Data: | Input: | Output | Test Case 1: | Room1: length=10, width=20 Room2: length=15, width=10 Room3: length=20, width=15 | Total Square Feet: 650 | Test Case 2: | Room1: length=13, width=11 Room2: length=9, width=7 Room3: length=22, width=19 | Total Square Feet: 624 | Test Case 3: | Room1: length=8, width=6 Room2: length=4, width=12 Room3: length=30, width=25 | Total Square Feet: 846 | Pseudocode: //Declare Variables Declare L1, L2, L3, W1, W2, W3, RM1, RM2, RM3 and SqFT //Set Values of Variables Set L1=10 Set L2=15 Set L3=20 Set......

Words: 294 - Pages: 2

Premium Essay

Acc 206 Week 2 Assignment

...Week 2 Assignment ACC 206 1. Analysis of stockholders' equity 1. Preference stock (100 par value) issued during 20X6 = 580,000 – 500,000 = $80,000 Number of preference shares issued during 20X6 = Par value of preferred shares issued / Par value per share of preferred shares = 80,000 / 100 = 800 shares 2. Common stock (10 par value) sold in 20X6 = 2,350,000 – 1,750,000 = $600,000 Number of common stock sold = 600,000 / 10 = 60,000 shares Additional paid in capital = 4,620,000 - 3,600,000 = $1,020,000 Average issue price of common stock sold in 20X6: Par value of common stock issued 600,000 (+) Additional paid in capital : Common stock 1,020,000 Total issue price of common stock 1,620,000 Average issue price = Total issue price/ Number of common stock sold = 1,620,000 / 60,000 = $27 The average issue price of the common stock sold in 20X6 = $27 3. Increase in paid in capital of preferred shares at par = 580000 – 50000 = 80,000 Increase in paid in capital of preferred shares in excess of par value = 24000 – 0 = 24000 Total increase in paid in capital of preferred shares = 80,000...

Words: 1347 - Pages: 6

Premium Essay

Acc 498 Assignment 2

...ACC 498 Assignment 2 Chapter 2 Activity 16 Q1. (b) $58,145 (Y) $18,405 Debt ratio- Google 19.9% GIS 150% Based on this information, I would choose to invest in Google over General Mills. I would choose to invest in Google because they are using more equity for financing instead of credit. Equity provides less financial risk and is an asset the company already owns instead of generating more debt for the company. Q2. A.) does, does not B.) must, never has to C.) reduces, do not reduce D.) does not, does E.) equity. E. My recommendation for financing assets would be to use equity because financing with credit creates a larger financial risk for the company. Chapter 2 Activity 20 YUM! BRANDS (YUM) Classified Balance Sheet/ Common-Size Statements ($ in millions) |   | 12/25/10 | 12/26/09 | 12/27/08 | 12/29/07 |   | $ | CS% | $ | CS% | $ | CS% | $ | CS% | Current Assets | 2,313 | 27.8% | 1,208 | 16.9% | 951 | 14.6% | 1,481 | 20.6% | PPE, Net | 3,830 | 46.1% | 3,899 | 54.5% | 3,710 | 56.8% | 3,849 | 53.5% | Goodwill + Intang. | 1,134 | 13.6% | 1,102 | 15.4% | 940 | 14.4% | 1,026 | 14.3% | Other assets | 1,039 | 12.5% | 939 | 13.1% | 926 | 14.2% | 832 | 11.6% | Total Assets | 8,316 | 100.0% | 7,148 | 100.0% | 6,527 | 100.0% | 7,188 | 100.0% | C liabilities | 2,448 | 29.4% | 1,653 | 23.1% | 1,722 | 26.4% | 2,062 | 28.7% | NC liabilities | 4,292 |......

Words: 349 - Pages: 2

Free Essay

Acc 403 Week 2 Assignment and Discussion

...ACC 403 WEEK 2 ASSIGNMENT AND DISCUSSION A+ Graded Tutorial Available At: http://hwsoloutions.com/?product=week-2-assignment-and-discussion Visit Our website: http://hwsoloutions.com/ Product Description PRODUCT DESCRIPTION ACC 403 Week 2 Assignment and Discussion, 3-25 (a-c) The following questions concern audit reports other than unqualified audit reports with standard wording. Chose the best reponse. The annual audit of Midwestern Manufacturing revealed that sales were accidentally being recorded as revenue when the goods were ordered, instead of when they were shipped. Assuming the amount in question is material and the client is unwilling to correct the error, the CPA should issue: An unqualified opinion or adverse opinion. A qualified “except for” opinion or disclaimer of opinion. A qualified “expect for” opinion or adverse opinion. An unqualified opinion with an explanatory paragraph Under which of the following circumstances would a disclaimer of opinion not be appropriate? The auditor is unable to determine the amounts associated with an employee fraud scheme. Management does not provide reasonable justification for a change in account principles. The client refuses the auditor permission to confirm certain accounts receivable or apply alternative procedures to verify their balances. The chief executive officer is unwilling to sign the management representation letter. The opinion paragraph of a CPA’s reports states: “ In our opinion, except......

Words: 542 - Pages: 3

Premium Essay

Acc 565 Week 4 Assignment 2

...ACC 565 WEEK 4 ASSIGNMENT 2 A+ Graded Tutorial Available At: http://hwsoloutions.com/?product=week-4-assignment-2 Visit Our website: http://hwsoloutions.com/ Product Description ACC 565 WEEK 4 ASSIGNMENT 2, Being The CPA, I would like to provide my recommendations on the issues mentioned by you as follows: Applicable Laws: As for the compensation, which is supposed to be paid to the shareholders of the company, there are some strict regulations under IRC and supporting authorities acting for the same. No compensation can be provided to any shareholder more than the amount paid to any other shareholder of the company is the same situation and circumstances. Redemption of stock held by the company is also considered as the compensation to the company so the company is not having the stock ownership any more. IRS rules explain that the losses, which are incurred as a result of any passive activity, are not allowed in a scenario where the income of the person increases the passive activities performed. The only exception to this the case is where the claimant is a real state personal as per the IRS rules. For such personal there are no limits to the loss and income arising and such income and loss is not supposed to be arising from the passive activities. Issues under Consideration: You are under consideration by the IRS and a notice is served to you called the notice of proposed Adjustments. Being The CPA, I would like to provide my recommendations on the......

Words: 450 - Pages: 2

Free Essay

Acc 403 Week 2 Assignment – Strayer

...ACC 403 WEEK 2 ASSIGNMENT – STRAYER To purchase this, Click here http://www.activitymode.com/product/acc-403-week-2-assignment-strayer/ Contact us at: SUPPORT@ACTIVITYMODE.COM ACC 403 WEEK 2 ASSIGNMENT - STRAYER ACC 403 WEEK 2 ASSIGNMENT - STRAYER http://www.activitymode.com/product/acc-403-week-2-assignment-strayer/ http://www.activitymode.com/product/acc-403-week-2-assignment-strayer/ http://www.activitymode.com/product/acc-403-week-2-assignment-strayer/ http://www.activitymode.com/product/acc-403-week-2-assignment-strayer/ http://www.activitymode.com/product/acc-403-week-2-assignment-strayer/ http://www.activitymode.com/product/acc-403-week-2-assignment-strayer/ http://www.activitymode.com/product/acc-403-week-2-assignment-strayer/ http://www.activitymode.com/product/acc-403-week-2-assignment-strayer/   ACC 403 WEEK 2 ASSIGNMENT – STRAYER To purchase this, Click here http://www.activitymode.com/product/acc-403-week-2-assignment-strayer/ Contact us at: SUPPORT@ACTIVITYMODE.COM ACC 403 WEEK 2 ASSIGNMENT - STRAYER ACC 403 WEEK 2 ASSIGNMENT -......

Words: 641 - Pages: 3

Free Essay

Acc 227 Week 2 Assignment Chapter 2 Video Case

...ACC 227 WEEK 2 ASSIGNMENT CHAPTER 2 VIDEO CASE To purchase this visit here: http://www.nerdypupil.com/product/acc-227-week-2-assignment-chapter-2-video-case/ Contact us at: nerdypupil@gmail.com ACC 227 WEEK 2 ASSIGNMENT CHAPTER 2 VIDEO CASE ACC 227 Week 2 Assignment Chapter 2 Video Case Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 227 Week 2 Assignment Chapter 2 Video Case in order to ace their studies. ACC 227 WEEK 2 ASSIGNMENT CHAPTER 2 VIDEO CASE To purchase this visit here: http://www.nerdypupil.com/product/acc-227-week-2-assignment-chapter-2-video-case/ Contact us at: nerdypupil@gmail.com ACC 227 WEEK 2 ASSIGNMENT CHAPTER 2 VIDEO CASE ACC 227 Week 2 Assignment Chapter 2 Video Case Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 227 Week 2 Assignment Chapter 2 Video Case in order to ace their studies. ACC 227 WEEK 2 ASSIGNMENT CHAPTER 2 VIDEO CASE To purchase this visit here: http://www.nerdypupil.com/product/acc-227-week-2-assignment-chapter-2-video-case/ Contact us at: nerdypupil@gmail.com ACC 227 WEEK 2 ASSIGNMENT CHAPTER 2 VIDEO CASE ACC 227 Week 2 Assignment Chapter 2 Video Case Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 227 Week 2 Assignment Chapter 2 Video Case in order to ace their studies. ACC 227 WEEK 2 ASSIGNMENT CHAPTER 2 VIDEO CASE To purchase this visit......

Words: 575 - Pages: 3

Free Essay

Acc 349 Week 2 Team Assignment Problems

...ACC 349 WEEK 2 TEAM ASSIGNMENT PROBLEMS To purchase this visit here: http://www.nerdypupil.com/product/acc-349-week-2-team-assignment-problems/ Contact us at: nerdypupil@gmail.com ACC 349 WEEK 2 TEAM ASSIGNMENT PROBLEMS Prepare written responses to the following problems from Managerial Accounting: Tools for Business Decision Making: Ch. 2 – Problem P2-4A Ch. 3 – Problem P3-3A Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 349 Week 2 Team Assignment Problems in order to ace their studies. ACC 349 WEEK 2 TEAM ASSIGNMENT PROBLEMS To purchase this visit here: http://www.nerdypupil.com/product/acc-349-week-2-team-assignment-problems/ Contact us at: nerdypupil@gmail.com ACC 349 WEEK 2 TEAM ASSIGNMENT PROBLEMS Prepare written responses to the following problems from Managerial Accounting: Tools for Business Decision Making: Ch. 2 – Problem P2-4A Ch. 3 – Problem P3-3A Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 349 Week 2 Team Assignment Problems in order to ace their studies. ACC 349 WEEK 2 TEAM ASSIGNMENT PROBLEMS To purchase this visit here: http://www.nerdypupil.com/product/acc-349-week-2-team-assignment-problems/ Contact us at: nerdypupil@gmail.com ACC 349 WEEK 2 TEAM ASSIGNMENT PROBLEMS Prepare written responses to the following problems from Managerial Accounting: Tools for Business Decision Making: Ch. 2 – Problem P2-4A Ch. 3 – Problem P3-3A Home......

Words: 631 - Pages: 3

Premium Essay

Acc 102 Revision

... | | DUBIOUS LTD Required: A. Assume the van was purchased on 2 July 2013 and that the accounting period ends on 30 June. Calculate the depreciation expense for the year 2013-14 using each of the following depreciation methods: 1. straight-line 2. sum-of-years’-digits 3. diminishing-balance 4. units of production (assume the van was driven 78 000 kilometres during the financial year). B. Assume the van was purchased on 1 October 2013 and that the accounting period ends on 30 June. Calculate the depreciation expense for the year 2013-14 using each of the following depreciation methods: 1. straight-line 2. sum-of-years’-digits 3. diminishing- balance 4. units of production (assume the van was driven 60 000 kilometres during the financial year). A. 1. Straight-line: ($32 000 - $12 000)/4 = $5 000 2. Sum-of-the-years’ digits: 4 + 3 + 2 + 1 = 10 ($32 000 - $12 000) 4/10 = $8 000 3. Diminishing-balance: 1 – = 22% (approx.) = 1 - .78 = .22 $32 000 x .22 = $7 040 4. Units-of-production: Expense per kilometre = ($32 000 - $12 000)/200 000 = $0.1 0.1 x 78 000 = $7 800 B. 1. Straight-line: ($32 000 – $12 000)/4 x 9/12 = $3 750 2. Sum-of-the-years’-digits: (4/10 x $20 000) 9/12 = $6......

Words: 2071 - Pages: 9

Premium Essay

Acc 290 Week 2 Assignment

...ACC 290 Week 2 Assignment Click Link Below To Buy: http://hwcampus.com/shop/acc-290-week-2-assignment/ Broadening Your Perspective 3-2 The financial statements of The Hershey Company and Tootsie Roll are presented below. THE HERSHEY COMPANY CONSOLIDATED STATEMENTS OF INCOME For the years ended December 31, 2011 2010 2009 In thousands of dollars except per share amounts Net Sales $6,080,788 $5,671,009 $5,298,668 Costs and Expenses: Cost of sales 3,548,896 3,255,801 3,245,531 Selling, marketing and administrative 1,477,750 1,426,477 1,208,672 Business realignment and impairment (credits) charges, net (886) 83,433 82,875 Total costs and expenses 5,025,760 4,765,711 4,537,078 Income before Interest and Income Taxes 1,055,028 905,298 761,590 Interest expense, net 92,183 96,434 90,459 Income before Income Taxes 962,845 808,864 671,131 Provision for income taxes 333,883 299,065 235,137 Net Income $628,962 $509,799 $435,994 Net Income Per Share—Basic—Class B Common Stock $2.58 $2.08 $1.77 Net Income Per Share—Diluted—Class B Common Stock $2.56 $2.07 $1.77 Net Income Per Share—Basic—Common Stock $2.85 $2.29 $1.97 Net Income Per Share—Diluted—Common Stock $2.74 $2.21 $1.90 Cash Dividends Paid Per Share: Common Stock $1.3800 $1.2800 $1.1900 Class B Common Stock 1.2500 1.1600 1.0712 ................................. Required Based on the information contained in these financial statements, determine the normal balance for: Tootsie Roll......

Words: 314 - Pages: 2

Premium Essay

Acc/220 Financial Statements Week 2 Assignment

...Financial Statements Your name here ACC/220 Date Instructor Information about a company is reported on financial statements that show the company’s financial state of being. Reports made on a balance sheet, an income statement, a retained earnings statement, and a statement of cash flows show different aspects of a company’s financial situation. Lenders, creditors, and investors use these documents for determining the future prospects of the company. Managers within the company also use these documents to make decisions about the daily operations of the company. The income statement reports the success or failure of a company’s operations for a period by listing the company’s revenues and expenses (Kimmel, Weygrandt, & Kieso, 2003). The net income of the company is determined on the income statement by deducting expenses from revenues (Kimmel, Weygrandt, & Kieso, 2003). The retained earnings statement shows the amounts of retained earnings during a period, and the causes of changes in those amounts. Retained earnings are the net income retained in a company not paid in dividends to stockholders (Kimmel, Weygrandt, & Kieso, 2003). The balance sheet reports the assets, the liabilities, and the stockholders equity within the company at a specific point (Kimmel, Weygrandt, & Kieso, 2003). Assets on the balance sheet are balanced against liabilities and stockholders’ equity (Kimmel, Weygrandt, & Kieso, 2003). The statement of cash flows provides......

Words: 523 - Pages: 3

All India | OMEGA 3 Fish Oil 1000mg The Vitamin 360 Capsules | Red Beryl ni Sayonara