Genetic Influence And Environmental Influence On Fetal Development

 

Select one genetic development influence and one environmental development influence on fetal development and think about how these influences might impact each other. ( I was thinking for the environmental-mother drinking while pregnant?)

Post a description of the genetic influence and the environmental influence you selected. Then, explain how the environmental influence might positively or negatively affect the development of a fetus with the genetic influence you selected. Be specific and provide examples.

Assignment On Eating Disorders

Assignment on Eating Disorders 

Read ALL the slides on eating disorders first and answer the following:

· How do you understand the meaning of anorexia as “crystallization” of what´s wrong in the Western Culture? Think of “crystallization” of cultural values.

· What is alexithymia?

“I Used to Love Bread” (In the Therapist Chair by J. S. Gunn)

1. How is anorexia understood from a “relational psychodynamic perspective”?

2. Anorexia symptoms and consequences in L (also use the slides to check which symptoms and medical complication L suffered from)

3. Problematic areas in L´s life, besides the restricted eating?

4. All aspects of L´s relationship with her mother.

5. How did she behave in the therapy room?

6. What is the therapist´s hypothesis about the functions that food has in L´s life? (Remember – symptoms always have multiple functions)

7. What did the psychotherapy focus on? Goals? Which interventions the psychotherapist utilized?

3 chapters from Hunger for Connection by Alitta Kullman

1. How is bulimia understood within this particular psychoanalytic perspective?

2. What is the explanatory mechanism? When and how does it “all” usually begin?

3. What are the ways in which the author AK understands and explains binge and purge symptoms? What are the symptoms functions?

4. What are therapy goals within this perspective?

Occupational Stressors

The Assignment (1-3 pages)

Use the Media Carousel of Trauma-Response Helping Professionals to select an interview.

http://mym.cdn.laureate-media.com/2dett4d/Walden/COUN/8333/01/mm/carousel/index.html

  • Identify yourself as a master’s level student on the title page of your application.
  • Provide an analysis of the occupational stressors in the interview you selected.
  • Explain the implication of these stressors on the development of vicarious trauma.
  • Explain which two stressors you would find most challenging and explain why.
  • Explain two ways you would address these stressors. Be specific.
  • Reflect on your life experience, and describe at least one stressor that could impact, or could have impacted, the development of vicarious trauma and justify your selection.
  • Explain two ways you could address those challenges.
  •  Use this week’s Learning Resources or other current literature.

Readings

  • Course Text: Compassion fatigue: Coping with secondary traumatic stress disorder in those who treat the traumatized
    • Chapter 5, “Sensory-Based Therapy for Crisis Counselors”
  • Course Text: Treating compassion fatigue
    • Chapter 8, “The Silencing Response in Clinical Practice: On the Road to Dialogue”
  • Course Text: Secondary traumatic stress: Self-care issues for clinicians, researchers, and educators
    • Chapter 3, “The Risks of Treating Sexual Trauma: Stress and Secondary Trauma in Psychotherapists”
  • Course Text: Quitangon, G. & Evces, M. (2015). Vicarious Trauma and Disaster Mental Health: Understanding Risks and Promoting Resilience. New York: Routlege

Humanistic Personality Analysis

You will prepare and present a personality analysis of your choosing. In 10-12 slides, address the following questions.

  1. Choose a person to analyze. This can be a historical figure, a famous person  (politician, celebrity, musician), or a fictional character from a book or other media. Just be sure you have enough information on this   person’s personality and background to fully analyze them.
  2. Describe this person’s personality in detail using language and concepts from the humanistic perspective.
  3. Analyze this person from both Abraham Maslow’s humanistic perspective and Carl  Rogers’s humanistic perspective. In other words, explain how this person’s personality would be described by each of those theorists.  Explain how their personality developed the way it did, from Maslow’s  and Rogers’s perspectives.
  4. If the person you described  experiences psychological issues or psychopathology, explain how humanistic theory can be used to restore a state of health and psychological well-being to the person. In other words, if they suffer from anxiety, depression or other disorders, how would humanistic  theorists like Maslow and Rogers help them overcome those disorders?

Include  speaker notes below each content-related slide that represent what  would be said if giving the presentation in person. Expand upon the   information included in the slide and do not simply restate it. Please  ensure the speaker notes include 50-75 words per slide.

Comparing Sociological Theories

As a helping professional, understanding social disorganization theory, social conflict theory, and rational choice theory as three contemporary perspectives on the causes of criminal behavior are essential. Social disorganization theory—such as purported by the Chicago School, which you read about in Week 2—views crime as being a product of neighborhoods and communities that have broken down and are characterized by weak cultural and structural norms, absence of law and order, and high levels of poverty. Social conflict theory assigns the cause of crime to conflict between competing social groups, such as the affluent and the working poor. Rational choice theory emphasizes the decision-making process of criminals and aims to prevent crime by making criminal behavior less attractive and valuable.

Each sociological theory outlined here has strengths and limitations. Applying these theories is likely to yield diverse explanations for the causes of criminal behavior.

For this Assignment, review the article, “The Role of Attenuated Culture in Social Disorganization Theory” and consider the principles of disorganization theory, paying particular attention to various aspects of the theory as explanations for criminal behavior. Then, search the Internet and select peer-reviewed articles that address social conflict theory, social disorganization theory, and rational choice theory.

Assignment (2 pages):

  • Briefly describe social conflict theory, social disorganization theory, and rational choice theory.
  • Compare (similarities and differences) social conflict theory, social disorganization theory, and rational choice theory, using specific examples in your comparison.
  • Based on your comparison, describe at least one insight or conclusion you might draw.
  • Use the resources from your research to support your findings.

Support your Assignment with specific references to all resources used in its preparation. You are asked to provide a reference list only for those resources not included in the resources for this course.

Introduction To Mangerial Accounting: Fall

Chpater  6

 

value:
10.00 points

 

Foundational 7-1

Morganton Company makes one product and it provided the following information to help prepare the master budget for its four months of operations:

 

(a) The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 8,400, 15,000, 17,000, and 18,000 units, respectively. All sales are on credit.
(b) Thirty-percent of credit sales are collected in the month of the sale and 70% in the following month.
(c) The ending finished goods inventory equals 30% of the following month’s unit sales.
(d) The ending raw materials inventory equals 20% of the following month’s raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.50 per pound.
(e) Thirty-percent of raw materials purchases are paid for in the month of purchase and 70% in the following month.
(f) The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours.
(g) The variable selling and administrative expense per unit sold is $1.60. The fixed selling and administrative expense per month is $65,000.

 

What are the budgeted sales for July?

 

  Budgeted sales $ [removed]

 

 

2.

value:
10.00 points

 

Foundational 7-2

Morganton Company makes one product and it provided the following information to help prepare the master budget for its four months of operations:

 

(a) The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 9,900, 30,000, 32,000, and 33,000 units, respectively. All sales are on credit.
(b) Forty-percent of credit sales are collected in the month of the sale and 60% in the following month.
(c) The ending finished goods inventory equals 30% of the following month’s unit sales.
(d) The ending raw materials inventory equals 20% of the following month’s raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.50 per pound.
(e) Forty-percent of raw materials purchases are paid for in the month of purchase and 60% in the following month.
(f) The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours.
(g) The variable selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $69,000.

 

What are the expected cash collections for July?

 

  Total cash collections $ [removed]

 

 

3.

value:
10.00 points

 

Foundational 7-3

Morganton Company makes one product and it provided the following information to help prepare the master budget for its four months of operations:

 

(a) The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 8,600, 17,000, 19,000, and 20,000 units, respectively. All sales are on credit.
(b) Thirty-percent of credit sales are collected in the month of the sale and 70% in the following month.
(c) The ending finished goods inventory equals 25% of the following month’s unit sales.
(d) The ending raw materials inventory equals 10% of the following month’s raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.40 per pound.
(e) Thirty five-percent of raw materials purchases are paid for in the month of purchase and 65% in the following month.
(f) The direct labor wage rate is $14 per hour. Each unit of finished goods requires two direct labor-hours.
(g) The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per month is $67,000.

 

What is the accounts receivable balance at the end of July?

 

  Accounts receivable $

 

 

4.

value:
10.00 points

 

Foundational 7-4

Morganton Company makes one product and it provided the following information to help prepare the master budget for its four months of operations:

 

(a) The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 9,500, 26,000, 28,000, and 29,000 units, respectively. All sales are on credit.
(b) Forty-percent of credit sales are collected in the month of the sale and 60% in the following month.
(c) The ending finished goods inventory equals 25% of the following month’s unit sales.
(d) The ending raw materials inventory equals 15% of the following month’s raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.40 per pound.
(e) Forty-percent of raw materials purchases are paid for in the month of purchase and 60% in the following month.
(f) The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours.
(g) The variable selling and administrative expense per unit sold is $1.50. The fixed selling and administrative expense per month is $65,000.

 

According to the production budget, how many units should be produced in July?

 

  Required production [removed] units

 

 

5.

value:
10.00 points

 

Foundational 7-5

Morganton Company makes one product and it provided the following information to help prepare the master budget for its four months of operations:

 

(a) The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 9,300, 24,000, 26,000, and 27,000 units, respectively. All sales are on credit.
(b) Forty-percent of credit sales are collected in the month of the sale and 60% in the following month.
(c) The ending finished goods inventory equals 30% of the following month’s unit sales.
(d) The ending raw materials inventory equals 20% of the following month’s raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.50 per pound.
(e) Thirty-percent of raw materials purchases are paid for in the month of purchase and 70% in the following month.
(f) The direct labor wage rate is $14 per hour. Each unit of finished goods requires two direct labor-hours.
(g) The variable selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $63,000.

 

If 105,200 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July?

 

  Raw materials to be purchased [removed]  pounds

 

 

6.

value:
10.00 points

 

Foundational 7-6

Morganton Company makes one product and it provided the following information to help prepare the master budget for its four months of operations:

 

(a) The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 9,500, 26,000, 28,000, and 29,000 units, respectively. All sales are on credit.
(b) Forty-percent of credit sales are collected in the month of the sale and 60% in the following month.
(c) The ending finished goods inventory equals 25% of the following month’s unit sales.
(d) The ending raw materials inventory equals 15% of the following month’s raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.40 per pound.
(e) Forty-percent of raw materials purchases are paid for in the month of purchase and 60% in the following month.
(f) The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours.
(g) The variable selling and administrative expense per unit sold is $1.50. The fixed selling and administrative expense per month is $65,000.

 

What is the estimated cost of raw materials purchases for July?

 

  Cost of raw material purchases $

 

 

7.

value:
10.00 points

 

Foundational 7-7

Morganton Company makes one product and it provided the following information to help prepare the master budget for its four months of operations:

 

(a) The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,200, 13,000, 15,000, and 16,000 units, respectively. All sales are on credit.
(b) Thirty-percent of credit sales are collected in the month of the sale and 70% in the following month.
(c) The ending finished goods inventory equals 20% of the following month’s unit sales.
(d) The ending raw materials inventory equals 10% of the following month’s raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.50 per pound.
(e) Thirty-percent of raw materials purchases are paid for in the month of purchase and 70% in the following month.
(f) The direct labor wage rate is $14 per hour. Each unit of finished goods requires two direct labor-hours.
(g) The variable selling and administrative expense per unit sold is $1.40. The fixed selling and administrative expense per month is $63,000.

 

If the cost of raw materials purchases in June is $119,800, what are the estimated cash disbursements for raw materials purchases in July?

 

  Total cash disbursements $ [removed]

 

 

8.

value:
10.00 points

 

Foundational 7-8

Morganton Company makes one product and it provided the following information to help prepare the master budget for its four months of operations:

 

(a) The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,800, 19,000, 21,000, and 22,000 units, respectively. All sales are on credit.
(b) Thirty-percent of credit sales are collected in the month of the sale and 70% in the following month.
(c) The ending finished goods inventory equals 20% of the following month’s unit sales.
(d) The ending raw materials inventory equals 10% of the following month’s raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.40 per pound.
(e) Twenty five-percent of raw materials purchases are paid for in the month of purchase and 75% in the following month.
(f) The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours.
(g) The variable selling and administrative expense per unit sold is $2.00. The fixed selling and administrative expense per month is $69,000.

 

What is the estimated accounts payable balance at the end of July?

 

  Accounts payable $ [removed]

 

 

 

 

9.

value:
10.00 points

 

Foundational 7-9

Morganton Company makes one product and it provided the following information to help prepare the master budget for its four months of operations:

 

(a) The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 8,400, 15,000, 17,000, and 18,000 units, respectively. All sales are on credit.
(b) Thirty-percent of credit sales are collected in the month of the sale and 70% in the following month.
(c) The ending finished goods inventory equals 30% of the following month’s unit sales.
(d) The ending raw materials inventory equals 20% of the following month’s raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.50 per pound.
(e) Thirty-percent of raw materials purchases are paid for in the month of purchase and 70% in the following month.
(f) The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours.
(g) The variable selling and administrative expense per unit sold is $1.60. The fixed selling and administrative expense per month is $65,000.

 

What is the estimated raw materials inventory balance at the end of July?

 

  Raw material inventory balance $
 

 

 

 

 

10.

value:
10.00 points

 

Foundational 7-10

Morganton Company makes one product and it provided the following information to help prepare the master budget for its four months of operations:

 

(a) The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 9,100, 22,000, 24,000, and 25,000 units, respectively. All sales are on credit.
(b) Forty-percent of credit sales are collected in the month of the sale and 60% in the following month.
(c) The ending finished goods inventory equals 20% of the following month’s unit sales.
(d) The ending raw materials inventory equals 10% of the following month’s raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.50 per pound.
(e) Forty-percent of raw materials purchases are paid for in the month of purchase and 60% in the following month.
(f) The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours.
(g) The variable selling and administrative expense per unit sold is $1.70. The fixed selling and administrative expense per month is $61,000.

 

What is the total estimated direct labor cost for July assuming the direct labor workforce is adjusted to match the hours required to produce the forecasted number of units produced?

 

  Total direct labor cost $ [removed]

 

 

 

11.

value:
10.00 points

 

Foundational 7-11

Morganton Company makes one product and it provided the following information to help prepare the master budget for its four months of operations:

 

(a) The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 9,100, 22,000, 24,000, and 25,000 units, respectively. All sales are on credit.
(b) Forty-percent of credit sales are collected in the month of the sale and 60% in the following month.
(c) The ending finished goods inventory equals 20% of the following month’s unit sales.
(d) The ending raw materials inventory equals 10% of the following month’s raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.50 per pound.
(e) Forty-percent of raw materials purchases are paid for in the month of purchase and 60% in the following month.
(f) The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours.
(g) The variable selling and administrative expense per unit sold is $1.70. The fixed selling and administrative expense per month is $61,000.

 

If the company always uses an estimated predetermined plantwide overhead rate of $12 per direct labor-hour, what is the estimated unit product cost? (Round your answer to 2 decimal places.)

 

  Unit product cost $ [removed]

check my workreferences

 

 

 

2.

value:
10.00 points

 

Foundational 7-12

Morganton Company makes one product and it provided the following information to help prepare the master budget for its four months of operations:

 

(a) The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 8,300, 14,000, 16,000, and 17,000 units, respectively. All sales are on credit.
(b) Forty-percent of credit sales are collected in the month of the sale and 60% in the following month.
(c) The ending finished goods inventory equals 25% of the following month’s unit sales.
(d) The ending raw materials inventory equals 10% of the following month’s raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound.
(e) Forty-percent of raw materials purchases are paid for in the month of purchase and 60% in the following month.
(f) The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours.
(g) The variable selling and administrative expense per unit sold is $1.50. The fixed selling and administrative expense per month is $64,000.

 

What is the estimated finished goods inventory balance at the end of July, if the company always uses an estimated predetermined plantwide overhead rate of $6 per direct labor-hour?

 

  Ending finished goods inventory $ [removed]

 

 

 

13.

value:
10.00 points

 

Foundational 7-13

Morganton Company makes one product and it provided the following information to help prepare the master budget for its four months of operations:

 

(a) The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 9,000, 21,000, 23,000, and 24,000 units, respectively. All sales are on credit.
(b) Thirty-percent of credit sales are collected in the month of the sale and 70% in the following month.
(c) The ending finished goods inventory equals 30% of the following month’s unit sales.
(d) The ending raw materials inventory equals 20% of the following month’s raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.70 per pound.
(e) Twenty-percent of raw materials purchases are paid for in the month of purchase and 80% in the following month.
(f) The direct labor wage rate is $14 per hour. Each unit of finished goods requires two direct labor-hours.
(g) The variable selling and administrative expense per unit sold is $1.60. The fixed selling and administrative expense per month is $60,000.

 

What is the estimated cost of goods sold and gross margin for July, if the company always uses an estimated predetermined plantwide overhead rate of $8 per direct labor-hour?

 

     
  Estimated cost of goods sold $ [removed]
  Estimated gross margin $ [removed]

 

 

 

14.

value:
10.00 points

 

Foundational 7-14

Morganton Company makes one product and it provided the following information to help prepare the master budget for its four months of operations:

 

(a) The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 8,900, 20,000, 22,000, and 23,000 units, respectively. All sales are on credit.
(b) Forty-percent of credit sales are collected in the month of the sale and 60% in the following month.
(c) The ending finished goods inventory equals 20% of the following month’s unit sales.
(d) The ending raw materials inventory equals 10% of the following month’s raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.50 per pound.
(e) Thirty-percent of raw materials purchases are paid for in the month of purchase and 70% in the following month.
(f) The direct labor wage rate is $13 per hour. Each unit of finished goods requires two direct labor-hours.
(g) The variable selling and administrative expense per unit sold is $1.50. The fixed selling and administrative expense per month is $70,000.

 

What is the estimated total selling and administrative expense for July?

 

  Total selling and administrative expenses $ [removed]

check my workreferencesebook & resources

 

 

 

15.

value:
10.00 points

 

Foundational 7-15

Morganton Company makes one product and it provided the following information to help prepare the master budget for its four months of operations:

 

(a) The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 9,600, 27,000, 29,000, and 30,000 units, respectively. All sales are on credit.
(b) Thirty-percent of credit sales are collected in the month of the sale and 70% in the following month.
(c) The ending finished goods inventory equals 30% of the following month’s unit sales.
(d) The ending raw materials inventory equals 20% of the following month’s raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.50 per pound.
(e) Twenty five-percent of raw materials purchases are paid for in the month of purchase and 75% in the following month.
(f) The direct labor wage rate is $13 per hour. Each unit of finished goods requires two direct labor-hours.
(g) The variable selling and administrative expense per unit sold is $1.60. The fixed selling and administrative expense per month is $66,000.

 

What is the estimated net operating income for July, if the company always uses an estimated predetermined plantwide overhead rate of $9 per direct labor-hour?

 

  Net operating income $ [removed]

Finance Problems

Problem 1

 

Chuck Sox makes wooden boxes in which to ship
motorcycles. Chuck and his three employees invest a total of 40
hours per day making the 120 boxes.
a) What is their productivity?
b) Chuck and his employees have discussed redesigning the process
to improve efficiency. If they can increase the rate to 125
per day, what will be their new productivity?
c) What will be their unit increase in productivity per hour?
d) What will be their percentage change in productivity?

 

Problem 2

 

Lillian Fok is president of Lakefront Manufacturing,
a producer of bicycle tires. Fok makes 1,000 tires per day with the
following resources:

 

Labor: 400 hours per day @ $12.50 per hour
Raw material: 20,000 pounds per day @ $1 per pound
Energy: $5,000 per day
Capital costs: $10,000 per day

 

a) What is the labor productivity per labor-hour for these tires at
Lakefront Manufacturing?
b) What is the multifactor productivity for these tires at
Lakefront Manufacturing?
c) What is the percent change in multifactor productivity if Fok
can reduce the energy bill by $1,000 per day without cutting
production or changing any other inputs?

 

Problem 3

 

Charles Lackey operates a bakery in Idaho Falls, Idaho.
Because of its excellent product and excellent location, demand has
increased by 25% in the last year. On far too many occasions, customers
have not been able to purchase the bread of their choice.
Because of the size of the store, no new ovens can be added. At a
staff meeting, one employee suggested ways to load the ovens differently
so that more loaves of bread can be baked at one time. This
new process will require that the ovens be loaded by hand, requiring
additional manpower. This is the only thing to be changed. If the
bakery makes 1,500 loaves per month with a labor productivity of
2.344 loaves per labor-hour, how many workers will Lackey need to
add? (Hint: Each worker works 160 hours per month.)

The Hasting Company

FINANCE –EXAM 3

1.    The Hasting Company began operations on January 1, 2003 and uses the FIFO method in costing its raw material inventory. An analyst is wondering what net income would have been if the company had consistently followed LIFO (instead of FIFO) from the beginning, 1/1/2003. He has the following information available to him:

What would net income have been in 2004 if Hastings had used LIFO since 1/1/2003?

 

[removed]$ 110,000

[removed]$ 150,000

[removed]$ 170,000

[removed]$ 230,000

 

 

2.    A customer is currently suing a company. A reasonable estimate can be made of the costs that would result from a ruling unfavorable to the company, and the amount involved is material. The company’s managers, lawyers, and auditors agree that there is only a remote likelihood of an unfavorable ruling. This contingency:

[removed]Should be disclosed in a footnote.

[removed]Should be disclosed as a parenthetical comment in the balance sheet.

[removed]Need not to be disclosed.

[removed]Should be disclosed by an appropriation of retained earnings.

 

 

3.    The ABC Company operates a catering service specializing in business luncheons for large corporations. ABC requires customers to place their orders 2 weeks in advance of the scheduled events. ABC bills its customers on the tenth day of the month following the date of service and requires that payment be made within 30 days of the billing date. Collections from customers have never been an issue in the past. ABC should recognize revenue from its catering services at the date when a:

[removed]Customer places an order.

[removed]Luncheon is served.

[removed]Billing is mailed.

[removed]Customer’s payment is received.

 

4.    On June 30, 2001, Cole Inc., exchanged 3,000 shares of Stone Corp. $30 par value common stock for a patent owned by Gore Co.. The Stone stock was acquired in 1999 at a cost of $80,000. At the exchange date, Stone common stock had a fair value of $45 per share, and the patent had a net carrying value of $160,000 on Gore’s books. Cole should record the patent at:

[removed]$80,000

[removed]$90,000

[removed]$135,000

[removed]$160,000

 

5.    On June 30, 2001, Cole Inc., exchanged 3,000 shares of Stone Corp. $30 par value common stock for a patent owned by Gore Co.. The Stone stock was acquired in 1999 at a cost of $80,000. At the exchange date, Stone common stock had a fair value of $45 per share, and the patent had a net carrying value of $160,000 on Gore’s books. Cole should record the patent at:

[removed]$80,000

[removed]$90,000

[removed]$135,000

[removed]$160,000

 

6.    On January 1, 1997, Phillips, Inc. leased a new machine from U.S. Leasing. The specific information on the lease is as follows:

On January 1, 1997, Phillips, Inc. should record a lease liability of:

[removed]$275,000

[removed]$359,464

[removed]$0

[removed]$250,000

 

 

 

 

 

 

 

 

 

7.    FRC Inc. acquired Marketing Inc on 1/1/2004. Marketing Inc. has 10,000 shares outstanding. Each share in Marketing Inc. was exchanged for half a share in FRC, Inc. Shares of FRC Inc., were trading at $100 per share at the date of the announcement of the transaction. Marketing Inc, had the following assets and liabilities that were assumed by FRC Inc.

The amount of Goodwill recognized by FRC, Inc. on January 1, 2004 is:

[removed]$400,000

[removed]$360,000

[removed]$495,000

[removed]$455,000

8.    ABC expenses stock options as required by GAAP. On January 1,2005, ABC granted 50 key executives 100 options each. Each option entitled the option holder to purchase 1 share of ABC common stock at $60 per share. The options will vest on January 1st 2008.

On the grant date, January 1st, 2005, the stock was quoted on the stock exchange at $63 per share. The fair value of the options on the grant date was estimated at $15 per option. The amounts of compensation expense ABC should recognize with respect to the options during 2005, 2006, and 2007 are:

[removed]1.

[removed]2.

[removed]3.

[removed]4.

 

9.    Which of the following situations will not cause a deferred income tax amount to be recorded?

[removed]An expense that is recognized in 2005 for income tax purposes and in 2006 for financial statement purposes.

[removed]Interest income from municipal bonds that is recognized in 2005 for financial statement purposes but is tax exempt for income tax purposes.

[removed]A revenue is recognized in 2005 for income tax purposes and in 2006 for financial statement purposes.

[removed]None of the above situations would cause a deferred income tax amount.

 

10.  In periods with rising prices and increasing quantities of inventories, which of the following relationships among inventory valuation methods is generally correct:

[removed]FIFO has a higher inventory balance and a lower net income than LIFO.

[removed]FIFO has a higher inventory balance and a higher net income than LIFO.

[removed]LIFO has a higher inventory balance and a higher net income than FIFO.

[removed]LIFO has a higher inventory balance and a lower net income than FIFO.

 

 

 

 

 

 

 

 

 

 

11.  Denny Co. sells major household appliance service contracts for cash. The service contracts are for a one-year, two-year, or three-year period. Cash receipts from contracts are credited to Unearned Service Revenues. This account had a balance of $900,000 at December 31, 2001 before year-end adjustment. Service contracts still outstanding at December 31, 2001 expire as follows:

 

What amount should be reported as Unearned Service Revenues in Denny’s December 31, 2001 balance sheet?

[removed]$900,000

[removed]$600,000

[removed]$1,500,000

[removed]$300,000

 

 

12.  ABC signed a 5-year operating lease agreement whereby WXY Rentals will provide a truck which cost WXY $20,000. The lease payments are $2,500, payable at the end of each year. The truck will revert to WXY at the end of five years. The truck has a 10-year useful life. At the inception of the lease, ABC should:

[removed]make no journal entry

[removed]record rental expense of $2,500 for the first year’s rental

[removed]record the lease asset and a corresponding liability, at its current market value

[removed]record the lease asset and a corresponding liability, at the present value of the five equal annual lease payments.

 

 

 

13.  Merry Co. purchased a machine costing $125,000 for its manufacturing operations and paid shipping costs of $20,000. Merry spent an additional $10,000 testing and preparing the machine for use. What amount should Merry record as the cost of the machine?

[removed]$155,000

[removed]$145,000

[removed]$135,000

[removed]$125,000

 

14.  Ignoring any related tax implications, what is the effect on a company’s balance sheet when depreciation expense is recognized?

[removed]This transaction affects only the income statement, so no change on the balance sheet will occur.

[removed]Total assets and total stockholder’s equity will decrease by the same amount.

[removed]There will be no change in the total assets, liabilities and stockholders equity accounts.

[removed]Total liabilities will increase and total stockholder’s equity will decrease by the same amount.

 

15.  The Hastco Company had the following balances in their stockholders’ equity accounts as of December 31, 2000:

Paid-in Capital: $53,000

Retained Earnings: $31,000

During the year ended December 31, 2000, The Hastco Company generated $36,000 in net income, and declared and paid $16,000 in Dividends. The ending balance in the retained earnings account at December 31, 1999 was:

[removed]$11,000

[removed]$37,000

[removed]$5,000

[removed]$61,000

16.  All of the following would qualify a lease as a capital lease except:

[removed]The lease term is 80% of the asset’s estimated useful life.

[removed]The lease agreement contains a bargain purchase option.

[removed]The present value of the lease payments equals 70% of the fair market value of the leased asset.

[removed]Title to the leased asset transfers to the lessee at the end of the lease term.

 

17.  Which of the following is/are criteria for recognizing revenue from a sale?

[removed]Title and risks of ownership have been exchanged.

[removed]The company is reasonably assured of collecting the receivable.

[removed]The customer has, in turn, sold the product to its own customer.

[removed]Both title and risks of ownership have been exchanged and the company is reasonably assured of collecting the receivable.

 

18.  Use the following information to answer the next two questions.

Downey Company bought a delivery truck for $62,000 on January 1, 2005. They installed a rear hydraulic lift for $8,000 and paid sales tax of $3,000. In addition, Downey paid $2,400 for a one-year insurance policy. They estimate the useful life of the truck to be 10 years and its residual value to be $8,000.

If Downey uses the straight-line method of depreciation, what is the depreciation expense for 2006 and book value at the end of 2006?

[removed]$7,300 and $58,400

[removed]$6,500 and $60,000

[removed]$6,790 and $62,320

[removed]$6,500 and $66,500

 

 

19. Downey Company bought a delivery truck for $62,000 on January 1, 2005. They installed a rear hydraulic lift for $8,000 and paid sales tax of $3,000. In addition, Downey paid $2,400 for a one-year insurance policy. They estimate the useful life of the truck to be 10 years and its residual value to be $8,000.

If Downey uses the double declining-balance method, how much is the truck’s depreciation expense for2006?

[removed]$11,680

[removed]$12,144

[removed]$10,400

[removed]$11,760

 

20.  For accounting purposes, goodwill

[removed]is recorded whenever a company achieves a level of net income that exceeds the industry average.

[removed]is recorded when a company purchases another business.

[removed]is expensed in the period it is recorded because benefits from goodwill are difficult to identify.

[removed]is never recorded

 

21.  Goodwill should

[removed]be written off as soon as possible against retained earnings.

[removed]absent impairment, not be written off because it has an indefinite life.

[removed]written off as soon as possible as an expense.

[removed]amortized over a maximum of forty years.

 

 

 

22.  Freeman, Inc., reported net income of $40,000 for 2005. However, the company’s income tax return excluded a revenue item of $3,000 (reported on the income statement) because under the tax laws the $3,000 would not be reported for tax purposes until 2006. Assuming a 30% income tax rate, this situation would cause a 2005 deferred tax amount of

[removed]$3,000 asset.

[removed]$3,000 liability

[removed]$ 900 asset.

[removed]$ 900 liability.

 

 

23.  Before closing entries were recorded at the end of the accounting period (December 31, 2005), the following data were taken from the accounts of Buynow Corporation:

The total amount of owners’ equity that should be reported on the balance sheet dated December 31, 2005, after all the closing entries, is

[removed]$ 338,000.

[removed]$128,000.

[removed]$300,000.

[removed]$304,000.

 

 

 

 

24. The major accounting difference between interest incurred during a period and cash dividends declared during the same period is:

[removed]Interest decreases retained earnings while dividend declared increases retained earnings

[removed]Interest reduces net income while dividends declared do not affect net income

[removed]Interest does not affect net income while dividends reduce net income

[removed]There is no major difference. Both are treated identically for accounting purposes.

 

 

25.  In December, a Global Grocer customer pays in time and receives a 2% discounts for prompt payment. The customer had purchased goods worth $500. Which of the possible answers below correctly states the journal entries to record the payment and the discount taken. Previously, Global Grocer had established an allowance for prompt payment discounts.

[removed]Debit Accounts receivable ($500); Credit Cash ($490); credit allowance for discounts ($10).

[removed]Debit Cash ($500); Credit Accounts receivable ($500).

[removed]Debit Cash ($490); Debit Allowance for sales discounts ($10); Credit Accounts receivable ($500)

[removed]None of the above

 

 

 

 

 

 

 

 

 

 

 

26.  Here is International Corp.’s income statement for the month of December.

What is the company’s December EBITDA to total interest coverage ratio?

[removed]6.5x

[removed]18.5x

[removed]14.5x

[removed]20.2x

 

 

27.  The following financial ratios are for Average Corp. and Superior Corp., two hardware stores.

 

Which of the following statements is inconsistent with the above ratios?

[removed]Superior Corp has a higher return on equity primarily because it has a significantly higher net income margin

[removed]Average Corp. on a relative basis uses significantly more debt financing than Superior Corp.

[removed]Average Corp. utilizes its assets more effectively than Superior Corp.

[removed]Superior Corp. generates more income per dollar of sales than Average Corp.

 

 

 

28.On June 30, 2000, Microsoft Corporation was holding $4.8 billion of cash that it had collected from customers in advance for future software licenses and the future delivery of other products and services. In its financial statements, Microsoft classified and recorded this amount as:

[removed]part of revenue on its income statement.

[removed]the asset Accounts Receivable on its balance sheet.

[removed]the liability Unearned Revenue on its balance sheet.

[removed]an expense on its income statement.

 

29.  Which statement is false?

[removed]An unrealized gain or loss on hold-to-maturity marketable securities is recognized in income.

[removed]An unrealized gain or loss on trading securities is recognized in income.

[removed]An unrealized gain or loss on a company’s common stock held by the owners’ of the company is not recognized by the company.

[removed]An unrealized gain or loss on available-for-sale marketable securities is not recognized in income.

 

 

30.  International, Inc. established an allowance for bad debts at the end of October. In November, International wrote off a $500 account receivable because payment was considered to be remote. What would be the effect of the $500 account receivable write-off on International’s November financial statements?

[removed]Assets would decrease, liabilities would remain constant and retained earning would decrease.

[removed]Assets would remain constant; liabilities would increase and retained earnings would decrease.

[removed]No change would be made in total assets, liabilities or shareholder’s equity.

[removed]Assets would decrease, liabilities would decrease and retained earnings would remain constant.

Finance Assignment A1

Unit 2 Textbook Problems

This assignment helps you develop the skills to master the following course competencies:

o Apply the theories, models, and practices of finance to the financial management of the firm.

Activity Instruction

To enhance your understanding of financial concepts, please complete the following problems in your Corporate Finance textbook.

o Chapter 4, problem 2a, b, and c (pages 118).

o Chapter 4, problem 3 (page 118).

o Chapter 4, problem 4 (page 118).

o Chapter 4, problem 5 (page 118).

o Chapter 4, problem 11 (page 119: Machine Co.).

o Chapter 5, problem 2a (page 159).

o Chapter 5, problem 3 (page 159).

o Chapter 6, problem 2 (page 190).

o Chapter 6, problem 4 (page 190).

You are required to use the textbook problems template in the Resources to complete the problems. This Excel document contains unique details and cells specific to the problems that you must use to derive your solutions. Provide full detail of the process used to reach the solution.

Calculating Project NPV

Week 3 Problems

Problem 6-2 Calculating Project NPV

[removed][removed]

The Best Manufacturing Company is considering a new investment. Financial projections for the investment are tabulated here. The corporate tax rate is 40 percent. Assume all sales revenue is received in cash, all operating costs and income taxes are paid in cash, and all cash flows occur at the end of the year. All net working capital is recovered at the end of the project.

 

   Year 0 Year 1 Year 2 Year 3 Year 4
  Investment $ 26,000                
  Sales revenue     $ 13,500 $ 14,000 $ 14,500 $ 11,500
  Operating costs       2,900   3,000   3,100   2,300
  Depreciation       6,500   6,500   6,500   6,500
  Net working capital  spending   320   370   420   320   ?

 

a. Compute the incremental net income of the investment for each year. (Do not round intermediate calculations.)

 

  Year 1 Year 2 Year 3 Year 4
  Net income  $ [removed] $ [removed] $ [removed] $ [removed]

 

b. Compute the incremental cash flows of the investment for each year. (Do not round intermediate calculations.Negative amounts should be indicated by a minus sign.)

 

  Year 0 Year 1 Year 2 Year 3 Year 4
  Cash flow $ [removed] $ [removed] $ [removed] $ [removed] $ [removed]

 

c. Suppose the appropriate discount rate is 11 percent. What is the NPV of the project? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

 

  NPV

 

 

 

Problem 6-7 Project Evaluation

[removed][removed]

Dog Up! Franks is looking at a new sausage system with an installed cost of $495,000. This cost will be depreciated straight-line to zero over the project’s five-year life, at the end of which the sausage system can be scrapped for $73,000. The sausage system will save the firm $175,000 per year in pretax operating costs, and the system requires an initial investment in net working capital of $32,000. If the tax rate is 34 percent and the discount rate is 10 percent, what is the NPV of this project? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

 

  NPV $ [removed]

 

 

Problem 6-8 Calculating Salvage Value

[removed][removed]

An asset used in a four-year project falls in the five-year MACRS class for tax purposes. The asset has an acquisition cost of $6,190,000 and will be sold for $1,390,000 at the end of the project. If the tax rate is 35 percent, what is the aftertax salvage value of the asset? Refer to MACRS schedule(Do not round intermediate calculationsand round your answer to 2 decimal places. Enter your answer in dollars, not millions of dollars, i.e. 1,234,567.)

 

  Aftertax salvage value $ [removed]

 

Problem 6-9 Calculating NPV

[removed][removed]

Howell Petroleum is considering a new project that complements its existing business. The machine required for the project costs $3.88 million. The marketing department predicts that sales related to the project will be $2.58 million per year for the next four years, after which the market will cease to exist. The machine will be depreciated down to zero over its four-year economic life using the straight-line method. Cost of goods sold and operating expenses related to the project are predicted to be 20 percent of sales. Howell also needs to add net working capital of $230,000 immediately. The additional net working capital will be recovered in full at the end of the project’s life. The corporate tax rate is 34 percent. The required rate of return for Howell is 15 percent.

 

What is the value of the NPV for this project? (Enter your answer in dollars, not millions of dollars, i.e. 1,234,567. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
 

 

Problem 6-11 Cost-Cutting Proposals

Massey Machine Shop is considering a four-year project to improve its production efficiency. Buying a new machine press for $540,000 is estimated to result in $225,000 in annual pretax cost savings. The press falls in the MACRS five-year class, and it will have a salvage value at the end of the project of $91,000. The press also requires an initial investment in spare parts inventory of $27,000, along with an additional $3,200 in inventory for each succeeding year of the project. The shop’s tax rate is 30 percent and its discount rate is 8 percent. Refer to MACRS schedule.

 

Calculate the NPV of this project. (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

 

  NPV $ [removed]