The bank portion of the bank reconciliation for Langer Company at November 30, 2014, was as follows. The adjusted cash balance per bank agreed with the cash balance per books at November 30. The...

Keeper Corporations income statement for the year ended June 30, 2014, and its comparative balance sheets for June 30, 2014 and 2013 follow. Keeper Corporation Income Statement For the Year Ended...

A company manufactures three products: A, B, and C. The company currently has an order for three units of product A, 7 units of product B, and 4 units of product C. There is no inventory for any of...

(Basic Pension Worksheet) The following defined pension data of Rydell Corp. apply to the year 2010. For 2010, prepare a pension worksheet for Rydell Corp. that shows the journal entry for pension...

The following facts pertain to a noncancelable lease agreement between Mooney Leasing Company and Rode Company, a lessee. Inception date: May 1, 2014 Annual lease payment due at the beginning of each...

In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and...

Organic Growth Company is presently testing a number of new agricultural seeds that it has recently harvested. To stimulate interest, it has decided to grant to five of its largest customers the...

Yolanda Hagen, a former disc golf star, operates Yolandas Discorama. At the beginning of the current season on April 1, the ledger of Yolandas Discorama showed Cash $1,800, Inventory $2,500, and...

Amsterdam Company uses a periodic inventory system. For April, when the company sold 600 units, the following information is available. Compute the April 30 inventory and the April cost of goods sold...

In early 2012, Sosa Enterprises purchased a new machine for $10,000 to make cork stoppers for wine bottles. The machine has a 3-year recovery period and is expected to have a salvage value of $2,000....

Estimating a cost function, high-low method. Laurie Daley is examining customer-service costs in the southern region of Capitol Products. Capitol Products has more than 200 separate electrical...

Gordon millers job shop has four work areas, A, B, C, and D. Distances in feet between centers of the work areas are: Workpieces moved, in hundreds of workpieces per week, between pairs of work...

Relative Sales Value Method During 2011, Crawford Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Crawford for a lump sum of $60,000, because it is...

A job cost sheet of Sandoval Company is given below. Instructions (a) Answer the following questions. (1) What are the source documents for direct materials, direct labor, and manufacturing overhead...

Suppose housing prices across the world double. a. Is society any richer for the change? b. Are homeowners wealthier? c. Can you reconcile your answers to ( a ) and ( b )? Is anyone worse off as a...

Give some key reasons why prioritizing strengths and weaknesses is essential.

Wolf Creek Golf Inc. was organized on July 1, 2014. Quarterly financial statements are prepared. The trial balance and adjusted trial balance on September 30 are shown here. Instructions (a)...

Sleek Sneakers Co. is one of many firms in the market for shoes. a. Assume that Sleek is currently earning short run economic profits. On a correctly labeled diagram, show Sleeks profit-maximizing...

Matthew Liotines Dream Store sells beds and assorted supplies. His best- selling bed has an annual demand of 400 units. Ordering cost is $ 40; holding cost is $ 5 per unit per year. a) To minimize...

Account analysis method. Gower, Inc., a manufacturer of plastic products, reports the following manufacturing costs and account analysis classification for the year ended December 31, 2009. Gower,...

On January 1, 2011, Palmer Company leased equipment to Woods Corporation. The following information pertains to this lease. 1. The term of the non-cancelable lease is 6 years, with no renewal option....

At week 24 of a project to shoot a television commercial, what should the expenditures be? If the earned value is right on schedule but the actual expenses are $9,000, what are the cost and schedule...

Danish company Bang & Olufsen (B&O) is known globally for its high-end audio and video. CEO Kalle Hvidt Nielsen says, Our mission is to make complex technology very simple to use. B&O uses contract...

Paulson's Pet Store completed the work sheet on page 600 for the year ended December 31, 20--. Owner's equity as of January 1, 20--, was $21,900. The current portion of Mortgage Payable is $500....

Salza Technology Corporation increased its sales from $375,000 in 2009 to $450,000 in 2010 as shown in the firms income statements presented below. LeAnn Sands, chief executive officer and founder of...

Figure 18P-2 shows the marginal private benefit to a U.S. farmer for irrigating his land. It costs $100 per acre to irrigate the land. Each acre of land irrigation generates a gallon of salty runoff...

Roger Ginde is developing a program in supply chain management certification for managers. Ginde has listed a number of activities that must be completed before a training program of this nature...

Alomar Co., a consolidated enterprise, conducted an impairment review for each of its reporting units. In its qualitative assessment, one particular reporting unit, Sellers, emerged as a candidate...

1. Evaluate the conduct of Peter Lewiston against the EEOCs definition of sexual harassment. 2. Should the intent or motive behind Lewistons conduct be considered when deciding sexual harassment...

During the second half of December 20-1, TJ's Specialty Shop engaged in the following transactions: Dec. 16 Received payment from Lucy Greene on account, $1,960. 16 Sold merchandise on account to Kim...

The following selected information is taken from the work sheet for Warton Company as of December 31, 2013. Using this information, determine the amount for B. Warton, Capital, that should be...

Faith Brooks, a 28-year-old college graduate, never took a personal finance class. She pays her bills on time, has managed to save a little in a mutual fund, and with the help of an inheritance has...

Melissa's Photo Studio offers both individual and group portrait options. The process flow diagram in Figure shows that all customers must first register and then pay at one of two cashiers. Then...

The number of internal disk drives (in millions) made at a plant in Taiwan during the past 5 years follows: a) Forecast the number of disk drives to be made next year, using linear regression. b)...

Recognition of Revenue on Long-Term Contract and Entries Hamilton Construction Company uses the percentage-of-completion method of accounting. In 2010, Hamilton began work under contract #E2-D2,...

Milden Company has an exclusive franchise to purchase a product from the manufacturer and distribute it on the retail level. As an aid in planning, the company has decided to start using a...

Sales mix, two products. The Stackpole Company retails two products: a standard and a deluxe version of a luggage carrier. The budgeted income statement for next period is as follows: Required1....

Matt Perry, Inc. had outstanding $6,000,000 of 11% bonds (interest payable July 31 and January 31) due in 10 years. On July 1, it issued $9,000,000 of 10%, 15-year bonds (interest payable July 1 and...

Maintenance at a major theme park in central Florida is an ongoing process that occurs 24 hours a day. Because it is a long drive from most residential areas to the park, employees do not like to...

Sierra Company manufactures woven blankets and accounts for product costs using process costing. The following information is available regarding its May inventories. The following additional...

During 2012, Nilsen Company started a construction job with a contract price of $1,600,000. The job was completed in 2014. The following information is available. Instructions(a) Compute the amount...

Gronseth Drywall Systems, Inc., is in discussions with its investment bankers regarding the issuance of new bonds. The investment banker has informed the firm that different maturities will carry...

Bauman Companys total current assets, total current liabilities, and inventory for each of the past 4 years follow: a. Calculate the firms current and quick ratios for each year. Compare the...

An analysis of the transactions made by J. L. Kang & Co., a certified public accounting firm, for the month of August is shown below. Each increase and decrease in stockholders' equity is explained....

Rockland Corporation earned net income of $300,000 in 2010 and had 100,000 shares of common stock outstanding throughout the year. Also outstanding all year was $800,000 of 10% bonds, which are...

On March 20, 2012, Norton Systems acquired two new assets. Asset A was research equipment costing $17,000 and having a 3-year recovery period. Asset B was duplicating equipment having an installed...

Cawley Company makes three models of tasers. Information on the three products is given below. Fixed expenses consist of $300,000 of common costs allocated to the three products based on relative...

The petty cash fund of Fonzarellis Auto Repair Service, a sole proprietorship, contains the following. The general ledger account Petty Cash has a balance of $300. Instructions Prepare the journal...

Presented below is the trial balance of Vivaldi Corporation at December 31, 2012. InstructionsPrepare a balance sheet at December 31, 2012, for Vivaldi Corporation. Ignore incometaxes. Credits Debits...

Discuss the role that AIGs corporate culture played, if any, in its downfall. When American International Group (AIG) collapsed in September 2008 and was subsequently saved by a government bailout,...

Jill has decided that the BackPack Company must have very good customer service. She has asked you to develop a level aggregate plan using inventories but not back orders. All demand must be met each...

Len Kumar started his own consulting firm. Kumar Consulting on June 1, 2017 the trial balance at June 30 is as follows. In addition to those accounts listed on the trial balance, the chart of...

(Deferred Taxes, Income Effects) Stephanie Delaney, CPA, is the newly hired director of corporate taxation for Acme Incorporated, which is a publicly traded corporation. Ms. Delaneys first job with...

Edward Waltz is the bookkeeper for Edminson Company. Edward has been trying to get the balance sheet of Edminson Company to balance. It finally balanced, but now hes not sure it is correct....

Animal Gear Company makes two pet carriers, the Cat-allac and the Dog-eriffic. They are both made of plastic with metal doors, but the Cat-allac is smaller. Information for the two products for the...

Using the data in problem 7.5, determine the economical volume for each process. In problem 7.5, Meile Machine Shop, Inc., has a 1-year contract for the production of 200,000 gear housings for a new...

Beginning and Ending Fund Balances. The following information is provided about the Village of Wymettes General Fund operating statement and budgetary accounts for the fiscal year ended June 30,...

Revenue management was once the exclusive domain of the airline industry. But it has since spread its wings into the hotel business, auto rentals, and now even professional sports, with the San...

Do certain kinds of firms need to stress particular areas of operations management? Explain.

1. How effective has Tran been as a project manager? Explain. 2. What problem(s) does Tran face? 3. How would you go about solving them? Why? Tran was taking his dog Callie on her evening walk as the...

Cooper River Glass Works (CRGW) produces four different models of desk lamps as shown in Figure. The operations manager knows that total monthly demand exceeds the capacity available for production....

Issues raised about Investment Securities you have just started work for Warren Co. as part of the controllers group involved in current financial reporting problems. Jane Hens haw, controller for...

Instead of worrying about job satisfaction, companies should be trying to create environments where performance is enabled. What do you think this statement means? Explain. Whats your reaction to...

1. What role, if any, should Marys past work record play in this case? Explain. 2. Does management have a right to know why employees refuse to work overtime? Explain. 3. Evaluate the arguments of...

Zero Calories Company has 16,000 shares of cumulative preferred 1% stock, $40 par and 80,000 shares of $150 par common stock . The following amounts were distributed as dividends: Year 1....$ 21,600...

Scott loves to go to baseball games, especially home games of the Cincinnati Reds. All else equal, he likes to sit close to the field. He also likes to get to the stadium early to watch batting...

The citizens of Spencer County approved the issuance of $2,000,000 in 6 percent general obligation bonds to finance the construction of a courthouse annex. A capital projects fund was established for...

Each of the following internal controls has been taken from a standard internal control questionnaire used by a CPA firm for assessing control risk in the payroll and personnel cycle. 1. Approval of...

The adjusted trial balance of Karise Repairs on December 31, 2013, follows. Required 1. Prepare an income statement and a statement of owners equity for the year 2013, and a classified balance sheet...

Red Queen Restaurants wishes to prepare financial plans. Use the financial statements and the other information provided below to prepare the financial plans. The following financial data are also...

On June 30, Petrov Co. has $ 128,700 of accounts receivable. Prepare journal entries to record the following selected July transactions. Also prepare any footnotes to the July 31 financial statements...

Pottery Ranch Inc. has been manufacturing its own finials for its curtain rods. The company is currently operating at 100% of capacity, and variable manufacturing overhead is charged to production at...

Polk and Stoneman is a public accounting firm that offers two primary services, auditing and tax return preparation. A controversy has developed between the partners of the two service lines as to...

The following data are monthly sales of jeans at a local department store. The buyer would like to forecast sales of jeans for the next month, July. (a) Forecast sales of jeans for March through June...

Janice Sanders, CEO of Pine Crest Medical Clinic, is concerned over the number of times patients must wait more than 30 minutes beyond their scheduled appointments. She asked her assistant to take...

Shannon Company segments its income statement into its North and South Divisions. The companys overall sales, contribution margin ratio, and net operating income are $ 500,000, 46%, and $ 10,000,...

A producer of inkjet printers is planning to add a new line of printers, and you have been asked to balance the process, given the following task times and precedence relationships. Assume that cycle...

Fogerty Company makes two products, titanium Hubs and Sprockets. Data regarding the two products follow: Additional information about the company follows: a. Hubs require $32 in direct materials per...

Bill's Barbershop has two barbers available to cut customers' hair. Both barbers provide roughly the same experience and skill, but one is just a little bit slower than the other. The process flow in...

A job order cost sheet for Lowry Company is shown below. Instructions (a) On the basis of the foregoing data, answer the following questions. (1) What was the balance in Work in Process Inventory on...

Laker Company reported the following January purchases and sales data for its only product. Required The Company uses a perpetual inventory system. Determine the cost assigned to ending inventory and...

Great Eastern Inns has a total of 2,000 rooms in its chain of motels located in eastern Canada. On average, 70% of the rooms are occupied each day. The companys operating costs are $42 per occupied...

I think we goofed when we hired that new assistant controller,? said Ruth Scarpino, president of Provost Industries. ?Just look at this report that he prepared for last month for the Finishing...

Merrifield Post Office is evaluating the productivity of its mail processing centers. The centers differ in the degree of automation, the type of work that can be performed, and the skill of the...

The Alpha Beta Company produces two products; A and B, that are made from components C and D. Given the following product structures, master scheduling requirements, and inventory information,...

What cultures are relevant to this project? Describe the project environment. MINI CASE Mr. Robert Rutland, founder of the National Jazz Hall of Fame, poured himself another drink as he listened to...

Spencer Kars provides shuttle service between four hotels near a medical center and an international airport. Spencer Kars uses two 10-passenger vans to offer 12 round trips per day. A recent month's...

You plan to invest in the Kish Hedge Fund, which has total capital of $500 million invested in five stocks: Kishs beta coefficient can be found as a weighted average of its stocks betas. The...

Jacobs Manufacturing produces a popular custom accessory for pickup trucks at plants in Huntington, West Virginia and Bakersfield, California, and ships them to distributors in Dallas, Texas;...

Peoria Corp. just completed another successful year, as indicated by the following income statement: Presented here are comparative balance sheets: Other information is as follows: a. Dividends of...

The following three separate situations require adjusting journal entries to prepare financial statements as of April 30. For each situation, present both the April 30 adjusting entry and the...

Price, Inc., bottles and distributes mineral water from the companys natural springs in northern Oregon. Price markets two products: 12-ounce disposable plastic bottles and 1-gallon reusable plastic...

Government-wide Statement of Activities. The following alphabetic listing displays selected balances in the governmental activities accounts of the City of Kokomo as of June 30, 2011. Prepare a...

Organic Grains LLC uses statistical process control to ensure that its health- conscious, low- fat, multigrain sandwich loaves have the proper weight. Based on a previously stable and in- control...

1. Develop a monthly cash budget for James Confectioners for the upcoming year. 2. What recommendations can you offer Telford and Ivey James to improve their companys cash flow? 3. If you were...

1. Four social inventions that support markets are (1) ______, which specify the terms of exchange; (2) ______, which reduce the risk of entrepreneurs; (3) ______, which increases the profitability...

Presented below are a number of balance sheet items for Montoya, Inc., for the current year, 2012. InstructionsPrepare a classified balance sheet in good form. Common stock authorized was 400,000...

Given the industries in which Cisco competes, what are the implications for the major types of buying situations? Perhaps youve heard of Cisco Systems. Its the company that runs those catchy Human...

Omar Industries maintains production facilities in several locations around the globe. Average monthly cost data and output levels are as follows. a. Calculate the labor productivity of each...

Elaborate on Intuits use of customer research. Why did it work so well for the company?