managerial accounting

Project Description:

problem:

the following data are taken from the general ledger of yeehoon manufacturing
corporation in seol, south korea, on january 31, 2013, the end of the first month of
operations in its current fiscal year.

sales $75,000
materials inventory, january 1 22,000
work-in-process inventory, january 1 20,000
finished goods inventory, january1 30,000
materials purchased 21,000
direct labor cost 18,000
manufacturing overhead including $1,000 of
indirect materials used and $3,000 of indirect labor used $12,000
selling and administrative expenses $10,000
inventories at january 31 or ending inventories:
materials $25,000
work-in-process 24,000
finished goods $32,000

required;
a. prepare a statement of the cost of goods manufactured for the yeehoon corporation as
of january 31, 2013.
b. prepare an income statement for yeehoon corporation as of january 31, 2013(

problem 2:
goodrich company
income statement
year ended december 31, 2012
net sales $900,000
cost of goods sold 600,000
gross profit $300,000
operating expenses 177,000
income before income taxes $123,000
income tax expense 43,000
net income $ 80,000
goodrich company
statement of retained earnings
retained earnings, january 1, 2012 $50,000
net income $80,000
less: dividends 20,000
net increase in retained earnings 60,000
retained earnings, december 31, 2012 $110,000
goodrich company
comparative balance sheet
december 31, 2012
2012 2011 increase/decrease
assets
current assets:
cash $90,000 $200,000 ($110,000)
accounts receivable 160,000 190,000 (30,000)
merchandise inventory 180,000 200,000 (20,000)
total current assets $430,000 $590,000 (160,000)
property, plant & equipment:
land $ 40,000 $ 40,000 0
building 140,000 $140,000
equipment 100,000 100,000
total property, plant & equipment $280,000 $40,000 $240,000
total assets $710,000 $630,000 $ 80,000
liabilities:
current liabilities:
notes payable $60,000 $50,000 $10,000
accounts payable 120,000 180,000 ($60,000)
total liabilities $180,000 $230,000 ($50,000)
stockholders’ equity:
common stock-$5 par, 100,000 shares authorized:
issued 58,000 in 2012 and 50,000 in 2011 $290,000 $250,000 $40,000
paid-in-capital in excess of par—common $130,000 100,000 30,000
item 2012 2011 increase/decrease
retained earnings $110,000 $50,000 $60,000
total stockholders’ equity $530,000 $400,000 130,000
total liabilities and equity $710,000 $630,000 $ 80,000
additional information:

1. issued additional 8,000 shares for $8.75 per share
2. declared and paid cash dividends of $20,000.
3. beginning cash balance jan 1, 2012 $200,000

required:
prepare a statement of cash flows using the indirect method

problem 3a:

balkaran electronics, inc.
comparative income statement
for the years ended december 31, 2011 and december 31, 2012
2012 2011

revenue
gross sales $623,247 $599, 650
less : sales returns and allowances8,550 9,470
sales discounts 3,400 1,233
net sales $611,297 $588,947
cost of goods sold:
2012 2011
merchandise inventory, jan 1 $158,540 $134,270
purchases 117,290 111, 208
freight-in 2,460 1,980
goods available for sale $278,290 $247,458
less: merchandise inventory 12/31 $149,900 $158,540
cost of goods sold $128,390 $ 88,918
gross profit $482,907 $500,029
operating expenses:
salaries and benefits $165,300 $161,200
rent and utilities 77,550 76,850
depreciation expense 74,350 75,040
insurance expense 4,560 3,900
warehouse expenses 41,370 67,400
miscellaneous expenses 34,000 41,200
total operating expenses 397,130 425,590
income before income taxes $85,777 $74,439
income taxes expense 27,400 19,700
net income $58,377 $54,739

required: from the above balkaran comparative income statement, compute an
horizontal analysis on the following items on the

statement: gross sales, gross
profit and net income. what is the percent change on each item?

problem 3b:
poleselo enterprises, inc.
balance sheet
for year ended december 31, 2012
assets
current assets:
cash $13,000
accounts receivable 32,500
merchandise inventory 50,600
prepaid expenses 1,200
supplies 4.000
total current assets $101,300
property, plant & equipment:
land 40,000
buildings 125,000
machinery and equipment 60,000
total property, plant & equipment $225,000
investments and other assets:
investments 10,000
intangible assets 5,000
total investments and other assets $ 15,000
total assets $341,300
liabilities and stockholders’ equity
current liabilities
accounts payable $17,500
salaries payable 5,400
taxes payable 6,500
total current liabilities $29,400
long-term liabilities:
mortgages payable $115,000
debenture bonds payable 20,000
total long-term liabilities $135,000
total liabilities $164,400
stockholders’ equity
capital stock $126,900
retained earnings 50,000
total stockholders’ equity $176,900
total liabilities and stockholders’ equity $341,300

required:
(a)from the above balance sheet, compute a vertical analysis on the following items:cash,
merchandise inventory and buildings.
(b) compute the following ratios: quick ratio, working capital, current ratio and debt
ratio .

problem 4a:
haspil company expects sales volume to be 3,000 units in the first quarter of 2013 with
500-unit increases in each succeeding quarter of 2013. the sales price per unit is
$60.00.
required: prepare a sales budget for the four quarters of 2013 for the haspil company.
problem 4b:
1st quarter 2nd. quarter 3rd. quarter 4th quarter
beginning balance $38,000 $25,500 $15,000 $19,400
total cash receipts 170,000 198,000 228,000 $258,000
total available cash ? ? ? ?
disbursements: $182,500 $211,500 $220,500 $239,500
1st. qt 2nd. qt 3rd. qt 4th.qt.
excess (deficiency
of available cash
over disbursements) ? ? ? ?
financing:
borrowings 0 3,000 0 0
repayments-plus
$100 interest $3,100 0
ending cash balance $? $ $? $

required:
from the above cash budget for the year ended december 31, 2012, compute the
following: total available cash, excess (deficiency of available cash over cash
disbursement and the ending cash balances for each quarter of 2011
Skills Required:
Project Stats:

Price Type: Negotiable

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