Morgan Manufactuing

In: Business and Management

Submitted By gatayan777
Words 715
Pages 3
6-2
Lewis Corporation*

Lewis Corporation had traditionally used the FIFO method of inventory valuation. You are given the information shown in exhibit 1 on transactions during the year affecting Lewis’s inventory account. (The purchases are in sequence during the year. The company uses a periodic inventory method).

Exhibit 1 Inventory Transactions 2009-2010--------------------------------------------------- &nbs p;
2009
Beginning Balance &nb sp; 1,840 Cartons @ $20.00
Purchases &nbs p; 600 cartons @ 20.25 &nbs p; 800 cartons @ 21.00 &nbs p; 400 cartons @ 21.25 &nbs p; 200 cartons @ 21.50 &nbs p;
Sales &nbs p; 2,820 cartons @ 34.00

2010
Beginning Balance &nbs p; 1,020 cartons
Purchases &nbs p; 700 cartons @ 21.50 &nbs p; 700 cartons @ 21.50 &nbs p; 700 cartons @ 22.00 &nbs p; 1,000 cartons @ 22.25

Sales &nbs…...

Similar Documents

The Morgan Bistro

...The Morgan Bistro - Ratio Analysis Memo Jennifer Allara, Vanessa Ford, Karla Morales, & Kimberly Richardson ACC/291 October 15, 2012 Emily Baculik | |XYZ Accounting, LLC | Memo To: CEO, Baderman Resort From: Allara, Ford, Morales, & Richardson CC: Boardman Management Group Date: 10/13/2012 Re: The Morgan Bistro – Financial Ratio Analysis 1. What do the liquidity, profitability, and solvency ratios reveal about the company’s financial position? 2. Which users may be interested in each type of ratio? Short terms creditors and such as bankers and suppliers would be interested in evaluating the company’s liquidity ratios. Investors would be very pleased with the current ration of this company for example since for both years 2005 and 2006 the current ratio gave a clean bill of health. In 2005 for every dollar in current liabilities, there was $1.12 in current assets. And in 2006 there was $1.12 in current assets. Bankers and stockholders would be interested in knowing the solvency of the company. They would be interested in solvency rations such as debt ratio, debt equity ratio and interest coverage ratio. Investors will be interested in knowing the returns that they can earn on their investments. For both 2005 and 2006 the debt to total assets ration indicated that the company should be able...

Words: 744 - Pages: 3

Jp Morgan

...inflicted upon the plaintiff. Intent can be actual or implied. Intentional tort actions can be voluntary by the defendant as well. Assault and battery are the two most common form of intentional tort. Negligent tort is the opposite of intention because it is unintentional or otherwise known as negligent acts. There are several points to prove negligent tort and they are: harm, duty, breach of duty, and casual connection. It needs to be proved that their was a duty to avoid injuring and that that duty was not executed. It must show to have caused damage, loss, and or injury. Discuss the tort action of “Interference with Contractual Relations and Participating in a Breach of Fiduciary duty” and, if the bank you’ve chosen were to behave as JP Morgan did, would you be able to prevail in such a tort action. The tort of interference with contractual relations is in place to protect the parties’ right to enjoy the benefits of a legally binding agreement. Through this tort remedies are found when a defendant intentionally causes another person to break a legally binding agreement. There are certain criteria that must be met in order to use this tort. The existence of the contract between the plaintiff and the other party must be known to the defendant. Another optional measure would be that there are plenty of facts that show that a reasonable person would believe that such a contract exists. Simply creating a opportunity for the defendant to breach is not enough; actual......

Words: 1674 - Pages: 7

Jp Morgan

...Short Essays on the JP Morgan Trading Losses of the summer of 2012 LEG100 10/27/2013 JP Morgan Organizations such as the Securities Exchange Commission and the Commodities Futures Trading Commission are independent agencies that are legally charged with regulating and providing guidelines for the trading and or exchanging of the goods and services within their respective jurisdictions. The Securities Act of 1934 has fully empowered the SEC to do a periodic evaluation of reports from companies that publicly trade their securities. The same act hands the SEC the powers to discipline individuals and entities that are regulated if found in breach of industry rules and regulation (Mahony, 1982). The Commodities Futures Trading Commission on the other hand was created in 1974 to protect individuals, the public and industry players from manipulation, fraud, and potentially abusive practices while at the same time fostering competitiveness, openness and creating markets that are sound (Teall, 2012). There are four basic elements of a contract as Miller (2012) writes. The first important requirement in the formation of a contract is an agreement. In an agreement there should be a party that offers to enter into the legal agreement and another one that accepts the terms of the offer placed. The terms of the contract should contain wording that allows meeting of the minds of both parties that allows them to consciously read and or understand what is in store for......

Words: 1412 - Pages: 6

Morgan

...Firmwide 360˚ Performance Evaluation Process at Morgan Stanley Case study Team no.2: Jana Baková Júlia Birčáková Eva Flaková Tomáš Szabo Martin Valdner 5th December 2005 CONTENTS The Firmwide 360˚ Performance Evaluation Process at Morgan Stanley 1 CONTENTS 2 Introduction 3 What is the 360˚ Performance Evaluation Process? 3 What is the problem? 5 Evaluation Criteria 5 Telling the truth / how to achieve correctness of the questionnaires? 5 Fighting for points 6 Possible solutions for our problems 7 Problem no. 1 – how to set evaluation criteria 7 Problem no. 2 – Telling the truth / how to achieve correctness of the questionnaires? 8 Problem no. 3 – Fighting for points 9 Conclusion 10 Introduction Morgan Stanley (MS) is a leading U.S. investment bank. It was founded in New York on the 5th September 1935 by Henry S. Morgan, and Harold Stanley. Since its inception it was transforming itself into a “One-firm company” under the leadership of John Mack (the president of Morgan Stanley since 1993). Morgan Stanley changed the presentation of itself towards its clients in a more unified way. Employees have become the main source that helps Morgan Stanley to achieve it. Organizations are changing fast - diversity is valued as a critical component of a business environment that encourages new and innovative approaches to accomplishing organization’s mission. Morgan Stanley has a target to be the best......

Words: 1843 - Pages: 8

Jp Morgan

...firms J.P. Morgan, Chase Manhattan, Chemical, Manufacturers Hanover (in New York City) and Bank One, First Chicago, and National Bank of Detroit (in the Midwest) were each closely tied, in their time, to innovations in finance and the growth of the United States and global economies. As JPMorgan Chase & Co does today, these firms also made significant contributions to their local communities. J.P. Morgan Chase & Co. appears in the 2008 Fortune 500 company listing. JPMorgan also leading global financial services firm with assets of $2.4 trillion. The widely considered to the premier trading operation in more than sixty counties and have over 260,000 employees all over the world. Thought, JPMorgan serving 90 million clients in worldwide. Key mergers that shaped who JPMorgan Chase is today: * In 1991, Manufacturers Hanover Corp. merged with Chemical Banking Corp., then the second-largest banking institution in the United States. * In 1995, First Chicago Corp. merged with NBD Bancorp, forming First Chicago NBD, the largest banking institution based in the Midwest. * In 1996, The Chase Manhattan Corp. merged with Chemical Banking Corp, creating what was then the largest bank holding company in the United States. * In 1998, Banc One Corp. merged with First Chicago NBD. Bank One became the largest financial services firm in the Midwest, the fourth-largest bank in the U. S. and the world's largest Visa credit card issuer. * In 2000, J.P. Morgan &......

Words: 5898 - Pages: 24

Morgan

...The Firmwide 360˚ Performance Evaluation Process at Morgan Stanley Case study Team no.2: Jana Baková Júlia Birčáková Eva Flaková Tomáš Szabo Martin Valdner 5th December 2005 CONTENTS The Firmwide 360˚ Performance Evaluation Process at Morgan Stanley 1 CONTENTS 2 Introduction 3 What is the 360˚ Performance Evaluation Process? 3 What is the problem? 5 Evaluation Criteria 5 Telling the truth / how to achieve correctness of the questionnaires? 5 Fighting for points 6 Possible solutions for our problems 7 Problem no. 1 – how to set evaluation criteria 7 Problem no. 2 – Telling the truth / how to achieve correctness of the questionnaires? 8 Problem no. 3 – Fighting for points 9 Conclusion 10 Introduction Morgan Stanley (MS) is a leading U.S. investment bank. It was founded in New York on the 5th September 1935 by Henry S. Morgan, and Harold Stanley. Since its inception it was transforming itself into a “One-firm company” under the leadership of John Mack (the president of Morgan Stanley since 1993). Morgan Stanley changed the presentation of itself towards its clients in a more unified way. Employees have become the main source that helps Morgan Stanley to achieve it. Organizations are changing fast - diversity is valued as a critical component of a business environment that encourages new and innovative approaches to accomplishing organization’s mission. Morgan Stanley has a target to be the best investment bank...

Words: 1847 - Pages: 8

Jp Morgan

...always has two reasons for doing anything: a good reason and the real reason.” – J.P. Morgan J.. Morgan Attention To The Detail Contents Origin 1 EARLY YEARS AND FAMILY 2 Forcasting 2 political parties 3 buying property 4 Cash Consolidation 5 Origin JP Morgan is one of the most powerful bankers of his time. J.P. (John Pierpont) Morgan, who died in 1913. He financed railroads and helped organize U.S. Steel, General Electric and other major corporations during his time. He did alot and hadrto go threw a lot as well. The Connecticut native followed his wealthy father into the banking business in the late 1850s, and in 1871 formed a partnership with Philadelphia banker Anthony Drexel. His family was already established. He just added his way of doing thing when his time came along.  In 1895, the firm was reorganized as J.P. Morgan & Company. Morgan used his powerful influence to help level out American financial markets during several economic crises. However, he faced criticism that he had too much power and was accused of manipulating the nation’s financial system for his own gain. I am not sure what he had to gain from doing so. He was already established and famous. Morgan spent a large portion of his wealth amassing a vast art collection. I see it as having a hobby that can generate a great profit the older it gets. EARLY YEARS AND FAMILY John Pierpont Morgan was born into a well known family from New England  on April 17, 1837, in Hartford,......

Words: 1021 - Pages: 5

Morgan Manufacturing

...Case 6-3 Report Charles Crutchfield, manager of manufacturing operations at Morgan Manufacturing, was concerned with the health of the operating aspects of the business. And Westwood, Inc. was Morgan Manufacturing’s major competitor. According to the financial statements, Edward Drewery, controller of Morgan Manufacturing, stated the reason why their operations were less efficient than Westwood’s might be their different method to account for inventory. Over 2006, Morgan Manufacturing implemented significant productivity improvements over Westwood. But these improvements were not reflected in the financial statements (Exhibit 1). Morgan Manufacturing used LIFO as its inventory costing method, while Westwood used FIFO. Additionally, comparison of three key ratios indicated relative differences between these two competitors: gross margin percentage, pre-tax return on sales, and pre-tax return on assets. And calculations of these three ratios are below: Ratio | Calculation | Gross margin percentage | Gross margin/ Sales | Pre-tax return on sales | Income before tax/Sales | Pre-tax return on assets | Income before tax/ Total assets | Based on the two different methods they used to account for inventory, here is the 2006 comparison of the three ratios between Morgan Manufacturing and Westwood: Ratio | Morgan Manufacturing | Westwood, Inc. | Difference | Gross margin percentage | 44.5% | 45% | -0.5% | Pre-tax return on sales | 14.5% | 15% |......

Words: 664 - Pages: 3

Morgan Hotel

...Part III: Proposal The merger of Starwood Hotels and Morgans Hotel Group will have both its benefits and challenges. These two specific issues have been broken down into three areas; employees, customers, and investment. We will examine the benefits first, followed by the challenges we might foresee With respect to benefits let’s first look at how the merger will affect the employees. With this merger there will be a strong and unambiguous signal to the employees that business will continues as usual. Employees of both companies will keep their corporate culture with minimal or no disrupt to their current business practices. Good will comes with Morgans Hotel Group and Starwood clearly sees and understands that value in their brand. Customers are generally comforted by the familiar, and it is important to Starwood that Morgans customer’s experience, nor fell any change with the company. But we also believe that there are synergistic benefits that will be offered and felt in a positive form. This deal should round out Starwood’s portfolio, adding a unique brand in the boutique market that will allow organic growth and adds value via synergies and opportunities for growth through cross selling. Now let’s address the issues of challenges with respect to the same order. Employees may question that if there are no obvious or evident changes was the merger actually necessary. We don’t want employees of Morgans to feel as if they are just cogs in the wheel of a large......

Words: 1012 - Pages: 5

Garret Morgan

...Garret Augustus Morgan Room 115 March 4, 2015 Mrs. Jackson Garret Augustus Morgan Garret Augustus Morgan was an African-American inventor and businessman. He was born on March 4, 1877. He was the first person to pantent the traffic light. He also created the gas mask. Garret Morgan was born in Kentucky and was the son of former slaves. He was the 7th child of 11 children. His early education ended in elementary school. At the age of 14 Garret Morgan moved to Cincinnati,Ohio to search for a job. Garret Morgan was able to get a job working as a handyman. In 1895, he moved to Clevleand and worked repaing sewing machines at a factory. Garret Morgan was married two times and with he second wife he had three sons. In 1907 he started his own sewing machine and shoe repair shop. In his sewing machine shop he hired 32 people who also used equipment Garret Morgan invented himself. A few years later he invented the gas mask and it was patented in 1912. Garret Morgans invention of the gas mask made him famous world wide. In 1920 Garret Morgan started a newspaper business and bought a car. While driving he realized how unsafe the streets were and wanted to make them safer. In 1923 Gareet Morgan patented the traffic signal but was not the first to invent it. His trffic signal had three signs. One sign was red for “stop” , one sign was green for “go” and there was another red for everyone to stop in all directions so that people can cross the street. It was used around all of the...

Words: 317 - Pages: 2

Jp Morgan

...FI730 Group Report Financial Institution Analysis 1. Introduction 1.1 JP Morgan & Chase, Co. JP Morgan & Chase, Co., incorporated under Delaware law in 1968, is now one of the oldest and most influential financial institutions in the world. As of December 31, 2013, the firm’s net assets and stockholders’ equity amounted $2.4 trillion and $211.2 billion, respectively. Currently, the firm is the leading banking institution in various business segments that include investment banking, commercial banking, asset management, private equity, and financial services for small businesses and individuals. JP Morgan & Chase, Co. offers financial services through its subsidiaries, divided between principal bank and nonbank subsidiaries. Its principal bank subsidiaries are JPMorgan Chase Bank and Chase Bank USA, which the former, has branches in 23 U.S. states, and the latter, the Firm’s credit card-issuing bank. JP Morgan & Chase, Co.’s nonbank subsidiary is J.P. Morgan Securities LLC (hereinafter referred as JPMorgan Securities), which is the Firm’s investment banking subsidiary in the U.S. Both the bank and nonbank subsidiaries operate domestically and overseas. One of the principal subsidiaries oversea in the United Kingdom (hereinafter referred as U.K.) is called the J.P. Morgan Securities plc, a company that is wholly owned by JPMorgan Chase Bank, N.A. For reporting purposes, JP Morgan & Chase, Co.’s business activities are grouped under four business......

Words: 4507 - Pages: 19

Morgan Freeman

...Morgan Freeman Actor, director, and narrator Morgan Freeman was born on June 1, 1937 in Memphis, Tennessee. He is still alive today. Even though he loved acting, he joined the air force after high school to become a fighter pilot. Instead, he was put into being a Tracking Radar Repairmen in the Air Force who rose to the rank of Airman 1st Class. Freeman later realized that wasn't what he wanted. "I joined the Air Force. I took to it immediately when I arrived there. I did three years, eight months, and ten days in all, but it took me a year and a half to get disabused of my romantic notions about it." Freeman graduating high school in 1955 he turned down a partial drama scholarship at Jackson State University and joined the U.S. Air Force. He finally started training to be a fighter pilot (after being a Tracking Radar Repairmen) but, as soon as he sat in the cockpit he said he had a “distinct feeling he was in the nose of a bomb”. He later realized that he didn't want to be shooting down other people. In 1959, Freeman left the air force and moved to Hollywood to pursue his chances of being an actor. Morgan Freeman was in the U.S Air Force for 3 years, 2 months, and 10 days. Freeman, now one of the most famous narrators/ actors of today. He did not fulfill his dream of being a fighter pilot, but he has lived a full life now. Although, he turned down his scholarship he still made it to be a great narrator/ actor....

Words: 273 - Pages: 2

Morgan Motor

...Morgan Motor Company An analysis on Internal and external environment i|Page Table of Contents Executive Summary .................................................................................................................. iii 1.0 Current Situation.................................................................................................................. 1 1.1 Current condition ............................................................................................................. 2 1.2 Strategic Posture .............................................................................................................. 2 2.0 Corporate Governance......................................................................................................... 6 2.1 Board of Directors............................................................................................................ 7 2.2 Top Management ............................................................................................................. 9 3.0 External Environment: Opportunities and Threats ............................................................ 11 3.1 Physical Environment: Raw Material ............................................................................ 12 3.2 Societal Environment ..................................................................................................... 14 3.3 Task Environment .............................................................

Words: 14866 - Pages: 60

J.P. Morgan

...J.P. Morgan John Pierpont Morgan is one of the most famous financiers in business history. Plenty of controversy has surrounded Morgan on whether his business strategies were for better or for worse. A robber baron is considered, “an American capitalist of the latter part of the 19th century who became wealthy through exploitation”. Morgan was just that. J.P. Morgan was a robber baron not only because he possessed a lot of power that wasn’t meant to be his, but he also revealed the fragility of the financial system. J.P. Morgan was born into wealth. At the age of 20, Morgan followed in his father’s footsteps into the world of business and banking. He began working in a London branch of the banking firm Peabody, Morgan & Co. This firm was formed by a partnership between his father Junius Spencer Morgan and George Peabody. Morgan was heavily involved in reorganizing several financially troubled railroad companies. Gradually, he gained control of portions of these railroads’ stock. Morgan bought Andrew Carnegie’s steel company and gained power over 2/3 of the steel industry and created a monopoly out of it. Morgan was the main force behind many businesses and controlled most of the American industries. When his bank was founded it was under the partnership with Anthony Drexel. The bank which was originally named Drexel, Morgan & Co., was later changed to J.P. Morgan & Co. His bank was the first national bank before the Federal Reserve existed. This bank was the......

Words: 375 - Pages: 2

Captain Morgan

...Captain Morgan The question is not if Captain Morgan will be remembered, but how he will be remembered. I never got to meet the man, just hear the legend of him from my great grandfather who was just a child when Captain Morgan passed away. He heard all of the tales Captain Morgan embarked on from his grandfather, who was one of his closest friends. There are few unaware of Captain Morgan’s escapades on the island of Jamaica, but there are none that know his life quite like I, Andrew Modyford, do. Unfortunately, most just remember the man that was described as a blood thirty, ruthless pirate in the biography by Alexandre Exquemelin. Morgan was many things, but he was not blood thirsty. As a devout Anglican, murdering and raping was not something he felt was appropriate. There were of course rumors of such behavior, but such fabrication is expected to increase the novelty of his already famous persona. Morgan was in fact a kind hearted, spiritual man that few took the time to know. All who came across him wished only to hear of his stories and admire his success, not discover who the man was. Morgan is most remembered for his victory in Panama in which he led over 2000 pirates on 36 ships across the treacherous oceans to Panama. Conquering the waters was nothing new for Morgan, but the 16 miles of jungle he marched through to defeat the 2000 waiting Spaniards was something of a new experience, a challenge he revered. This momentous event overshadows some of......

Words: 1442 - Pages: 6

30.11.1805:28 Uhr FIGHTING EX LAYER*inklusive deutschem Untertitel* Action0 / 0219 Hits VID P2P DDL 0 Kommentare | The Kill Point | Watch movie