Question 1
"please see attach document: PLEASE I NEED THIS AS SOON AS POSSIBLE THANKS. 1. Early in 2012, you deliver the financial statement data below to a client. (note: income statement data is for 2011 only.) After a quick review, your client exclaims, " How can I be profitable, I borrowed $40,000 from the bank and my cash decreased by $2,000? I must have incurred a net loss." Explain to your client why the $40,000 loan and the $2,000 decrease in cash did not affect profitability. Calculate your client?s free cash flow. 2011 2010 Cash Accounts receivable Inventory Equipment Accumulated Depreciation Total Assets Accounts payable Notes payable (long term) Total Libilities Common Stock Premium Retained Earnings Total Liabilities and Equity $ 3,000 18,000 20,000 52,000 (10,000) $ 83,000 $ 4,000 40,000 $ 44,000 $ 2,000 18,000 19,000 $ 83,000 $ 5,000 8,000 15,000 20,000 ( 5,000) $ 43,000 $ 9,000 -0- $ 9,000 $ 2,000 18,000 14,000 $ 43,000 Sales $ 240,000 Cost of Sales 150,000 Operating expenses (including depreciation - $5,000) 70,000 Net income $ 20,000 Dividends paid $ 15,000 2. Use the following information to determine how much Xavier Metals is worth at the end of 2011. Can you think of any additional information you would like know about Xavier Metals to help you answer this question more thoroughly? Explain. (Note: All $ amounts are in millions. Assume there are 10 million shares of common stock outstanding.) . Xavier Metals . . . . . 2011 2010 . . . Cash 119 98 Marketable Securities 59 -0- Accounts receivable 312 254 Inventory 278 239 Prepaid expenses 35 21 Fixed assets 536 409 Accumulated depreciation ( 76) ( 53) Accounts payable 212 198 Accrued expenses 98 76 Dividend payable 40 -0- Notes payable 125 -0- Common stock 600 550 Retained earnings 188 144",hi thanks. please in you can submit answer to assignment by morning on 2/13/12 it would be fine.
Question 2
1) At December 31, 2010, the stockholders' equity of Gost Corporation and its 80%-owned subsidiary, Tree Corporation, are as follows: Gost Tree Common stock, $10 par value $20,000 $12,000 Retained earnings 8,000 6,000 Totals $28,000 $18,000 Gost's Investment in Tree is equal to 80 percent of Tree's book value. Tree Corporation issued 225 additional shares of common stock directly to Gost on January 1, 2011 at $18 per share. Required: 1. Compute the balance in Gost's Investment in Tree account on January 1, 2011 after the new investment is recorded. 2. Determine the increase or decrease in goodwill from Gost's new investment in the 225 Tree shares. Use four decimal places for the ownership percentage. Assume the fair values of Tree's assets and liabilities are equal to book values. 2) Paice Corporation owns 80% of the voting common stock of Accardi Corporation. Paice owns 60% of the voting common stock of Badger Corporation. Accardi owns 20% of the voting common stock of Badger. There are no cost/book value/fair value differentials to consider. The separate net incomes (excluding investment income) of these affiliated companies for 2011 are: Paice $300,000 Accardi 160,000 Badger 120,000 Required: Calculate controlling interest share of consolidated net income and noncontrolling interest shares for Paice Corporation and Subsidiaries for 2011. 3) Sally Corporation's stockholders' equity on December 31, 2010 was as follows: 10% cumulative preferred stock, $100 par value, callable at $105, with one year dividends in arrears $10,000 Common stock, $1 par value 50,000 Additional paid-in capital 150,000 Retained earnings 160,000 Total stockholders' equity $370,000 On January 1, 2011, Panera Corporation paid $500,000 for a 70% interest in Sally's common stock. On January 1, 2011, the book values of Sally's assets and liabilities were equal to fair values. Required: 1. Determine the book value of the common stockholders' equity for Sally Corporation on January 1, 2011. 2. What is the amount of goodwill reported on the consolidated balance sheet for Panera Corporation and Subsidiary at January 2, 2011? 3. On January 2, 2011, Panera purchased 70% of Sally's preferred stock for $5,000. Prepare the journal entry(ies) for Panera for this purchase on January 2, 2011. 4. Prepare the elimination entry on the consolidating work papers for the Investment in Sally, Preferred Stock and Sally's Preferred Stock on January 2, 2011. 4) Pascal Corporation paid $225,000 for a 70% interest in Sank Corporation on January 1, 2011. On that date, Sank's balance sheet accounts, at book value and fair value, were as follows: Book Value Fair Value Assets Cash $25,000 $25,000 Accounts receivable-net 45,000 55,000 Inventories 40,000 60,000 Plant, property and equipment-net 140,000 125,000 Total assets $250,000 $265,000 Equities Accounts payable $40,000 $40,000 Common stock 120,000 Retained earnings 90,000 Total liab. & equity $250,000 Both companies use the parent company theory. Push-down accounting is used for the acquisition. Required: 1. Prepare the journal entry on January 1, 2011 on Sank Corporation's books. 2. Prepare a balance sheet for Sank Corporation immediately after the acquisition on January 1, 2011. 5) A summary of changes in the stockholders? equity of Sin Corporation from January 1, 2011, to December 31, 2012, appears as follows (in thousands): (see attached) Par Corporation purchases 40,000 shares of Sin?s outstanding stock on July 1, 2011, in the open market for $620,000 and an additional 10,000 shares directly from Sin for $162,000 on January 1, 2012. Any excess of investment fair value over book value is due to goodwill. REQUIRED 1. Determine the balance of Par?s Investment in Sin account on December 31, 2011. 2. Compute Par?s investment income from Sin for 2012. 3. Determine the balance of Par?s Investment in Sin account on December 31,2012.
Question 3
"Bodine B-12.08 Lawrence is employed by Baylor Health Systems. During the month of June, Lawrence worked 195 hours. 15 of these hours were overtime, and were required to be paid at 150% of the normal hourly rate. Lawrence's hourly rate is $12. Lawrence is single, and had $400 of federal income tax withheld from his pay. Baylor is in a state without an income tax. Lawrence's pay is subject to social security taxes at an (assumed) 6.5% rate and Medicare/Medicaid at an (assumed) 1.5% rate. He has not exceeded the annual base for social security taxes. Baylor pays for workers' compensation insurance at a 4% rate. None of this cost is paid by the employee. Baylor provides its employees with health care insurance, and pays 90% of the $500 per employee monthly premium. The other 10% is paid by employees via payroll withholdings. Lawrence participates in a tax-sheltered deferred plan savings and has 8% of his gross pay withheld each month. Baylor Health Systems provides a 75% matching contribution. In other words, for every dollar that Lawrence saves, Baylor will contribute an additional 75 cents. Baylor's payroll is subject to federal (0.5%) and state (1.5%) unemployment taxes on each employee's gross pay, up to $8,000 per year. Lawrence had $6,000 of gross earnings in the months prior to June. Lawrence participates in the Community Chest fund drive each month, via a $25 contribution that is withheld from his pay. (a) Complete Lawrence's pay check and the remittance advice (i.e., "pay stub"). The blank worksheet will be very helpful for this portion of the assignment. (b) Prepare journal entries for Lawrence's pay and the related payroll expenses. (c) What is the total cost to Baylor for Lawrence's services during June? ",I found this question on the course hero website, so it may already be answered. It was labeled as accounting 101 in Florida, problem B-12.08 and the worksheet to complete the problem on i also found on the course hero website. I have already completed the problem but would like to cross check it with your to ensure i did it correctly. The question MUST be answered by the evening of 06/21/2012. Thanks
Question 4
Financial Statement Analysis To analyze the financial statements of a publicly traded company. Obtain an annual report from a publicly traded corporation that is interesting to you. Be sure the company has property and equipment, intangible assets, and long-term debt on their balance sheet. Using techniques you have learned in the previous weeks, respond to the following questions: 1. What is the amount of property and equipment on the balance sheet for the two most recent years? What is the amount of depreciation expense? What amounts are on the cash flow statement for the most recent year that relate to depreciation, gains and sales of property and equipment, and purchases and sale of property of equipment? What amounts are permitted for inclusion in the capitalized cost of property and equipment? 2. Looking at the footnote disclosures of the company, what are the individual components of property and equipment? For example, what are the amounts for land, building, equipment, accumulated depreciation, and so forth? How do companies account for nonmonetary exchange and dispositions of property and equipment? 3. Does the company have intangible assets? If so what are the types of intangible assets (patent, copyrights, etc.) and their amounts? What is the amount of amortization expense? What amounts on the most recent cash flow statement relate to the purchase and sale of intangible assets? How do intangible assets differ from property and equipment? What costs do we include in intangible assets? 4. Goes the company have goodwill? What are the footnote disclosures relating to goodwill and the related acquisition? Please also describe the calculation of goodwill and how we account for differences between fair value and book value of assets acquired. 5. What are the company's depreciation methods? What is the range of estimated useful lives used for depreciating their assets? Does the company use the same depreciation methods for financial statements and tax returns? If not, please describe the methods used for tax purposes. 6. What are the company's footnote disclosures relating to impairment? Please also describe how to determine if an impairment exists and how to calculate the impairment loss. 7. What are the amounts and descriptions for the company's current liabilities for the most recent year? Does the company have any contingent liabilities? If yes, please describe. What are the three categories of contingent liabilities and the treatment for each type? Does the company have any subsequent events disclosed in their footnotes? If so, please describe them. 8. What are the amounts and descriptions for all of the company's long-term liabilities on their balance sheet for the most recent two years? What is the interest expense for the two most recent years? What amounts are included in the cash flow statements for proceeds from issuance of debt and repayment of debt for the most recent year? For each note payable discussed in the footnotes disclosures, what is the interest rate, total amount borrowed, and maturity date? 9. Does the company have bonds payable? If so, what are the amounts? Please also describe how bonds payable differ from notes payable and how to account for the issuance of bonds at par, at a discount, and at a premium. How is the discount and premium amortized? What is the effective interest method? 10. Does the company have capital leases? If so, what are the amounts and terms of the leases? What are the four criteria for a lease to be considered a capital lease? What are the additional criteria for the lessor? What is the difference between a sales-type lease and a direct financing lease?
Question 5
Any large scale change endeavor requires a great deal of effort on the part of a given organization to implement. Implementing a corporate wide BSC based performance management system is no different. In implementing such a system, organizational leaders face the challenge of overcoming organizational inertia rooted in resistance to change. This is no easy challenge, and is one of the major reasons why the majority of BSC initiatives (or large scale change initiatives in general) fail. In this module, therefore, we are going to look at the BSC not due to its value as a means of integrating strategy with operations or due to its usefulness as a performance management tool. Rather, in this module we are going to put on our organizational dynamics consultant hat and consider what it takes to implement a large scale organizational change endeavor. After completing the readings presented, write a 3-4 page essay that In your own words, describe the efforts put forth by BAE in implementing the BSC approach in their organization from an implementation perspective. What efforts did they make to assure employees would be receptive to, and accept the BSC initiative? Describe to what extent you believe their efforts paid off. The case study for BAE can be found in Chapter 7 of: Murby, L., Gould, S., (2005). Effective Performance Management with the Balanced Scorecard: Technical Report. Chartered Institute of Management Accountants. Retrieved from: http://www.cimaglobal.com/Documents/ImportedDocuments/Tech_rept_Effective_Performance_Mgt_with_Balanced_Scd_July_2005.pdf Your assignment should include the following: Introduction: In this part of your essay you will need to introduce your topic and provide a very brief overview of the key points you plan to make in your paper. Analysis: In this section you will present the actual comparison and contrast between BAA?s approach to the Balanced Scorecard and more traditional approaches. Conclusion: Wrap up your argument with a clear and cogent synopsis of your findings. Do your best to convince your reader (aka, your professor) as to your position. Additional Instructions: Your essay should be 3 to 4 pages in length (not counting your title page or references). You must include a title page and a list references. APA formatting is preferred. Do not paste in sections of text into your essay. All of your work must be written in your own words. It?s OK to use a short quote now and again, but quotations must be in quotation marks and properly cited. In-text citations should be used anytime you are borrowing somebody else?s ideas, or information. That is to say, if you are borrowing a thought from a publication from J. Bravo?s article written in 2010, that section of text must be followed with (Bravo, 2010). Quotations, data, and general ideas (put into your own words) should all be cited.
