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business
managerial accounting

Questions and Answers of Managerial Accounting

In vertical analysis, the base used for comparison on the income statement isa. total expenses.b. total assets.c. net sales.d. gross profit.
Vertical analysis would rarely be performed on which of the following statements or schedules?a. Income statementb. Adjusting entry worksheetc. Balance sheetd. All of the above are common targets of
A statement that lists the assets, liabilities, and stockholders’ equity of a company in percentages only with no dollar amounts is aa. common-size income statement.b. benchmarking analysis.c.
Which ratio measures the ability of a company to collect its receivables?a. Current ratiob. Quick ratioc. Days’ sales in receivablesd. Return on assets
Which ratio measures the ability of a company to pay its current debts?a. Current ratiob. Inventory turnover ratioc. Days’ sales in receivablesd. Return on assets
To calculate the debt ratio, total liabilities should be divided bya. income from operations.b. total assets.c. interest expense.d. total stockholders’ equity.
Which of the following ratios measures a company’s profitability?a. Rate of return on net salesb. Current ratioc. Days’ sales in receivablesd. Times-interest-earned
Parkins Corporation reported the following on its comparative income statement:Perform a horizontal analysis of revenues and gross profit—both in dollar amounts and in percentages—for 2023 and
Bradley Group reported the following revenues and net income amounts:a. Show Bradley Group’s trend percentages for revenues and net income. Use 2020 as the base year and round to the nearest
McCormick Optical Company reported the following amounts on its balance sheet at December 31:Perform a vertical analysis of McCormick Optical Company’s assets at year-end. Cash and
Zoaring Music, Inc., is a start-up tech company that streams live music via various channels and plans. When Zoaring released its earnings for the second half of 2021, earnings were less than
Refer to the Cartwright’s Data Set.a. Compute Cartwright’s current ratio at December 31, 2023 and 2022.b. Did Cartwright’s current ratio improve, deteriorate, or hold steady during 2023?Data
Use the Cartwright’s Data Set to compute the following:a. The rate of inventory turnover for 2023.b. Days’ sales in average receivables during 2023. Assume all sales are on credit.Data From
Refer to the Cartwright’s Data Set.a. Compute the debt ratio at December 31, 2023.b. Is Cartwright’s ability to pay its liabilities strong or weak? Explain your reasoning.Data From Cartwright’s
Use the Cartwright’s Data Set to compute these profitability measures for 2023:a. Gross profit percentageb. Operating income percentagec. Rate of return on net salesd. Rate of return on total
Use the Cartwright’s Data Set when making the following calculations:a. Compute earnings per share (EPS) for Cartwright’s. The number of shares outstanding was 720,000.b. Compute Cartwright’s
For each of the situations listed, identify the primary standard from the IMA Statement of Ethical Professional Practice that is violated (competence, confidentiality, integrity, or credibility).1.
Prepare a horizontal analysis of the following comparative income statement of The Ruby Group.Why did net income increase by a higher percentage than net sales revenue during 2023? 1 2 3 The Ruby
Prepare a comparative common-size income statement for Jubilee Corporation. To an investor, how does the current year compare with the prior year? Explain your reasoning. 1 2 3 Jubilee Corporation
Jason Home Products currently sells its products through multiple distribution channels.When the company first started, its home cleaning products were sold strictly through home party sales. About
Prepare a horizontal analysis of the following comparative income statement of The Slate Group.Why did net income increase by a higher percentage than net sales revenue during 2023? 1 2 3 The Slate
Martin Home Products currently sells its products through multiple distribution channels.When the company first started, its home cleaning products were sold strictly through home party sales. About
The Dotz Bookzzz Company currently sells its products, children’s books, through multiple distribution channels. It sells subscriptions that provide children with a box every month containing an
Net sales revenue, net income, and common stockholders’ equity for Vallen Optical Corporation, a manufacturer of contact lenses, follow for a four-year period.Requirements:1. Compute trend
Comparative financial statement data of Tennyson, Inc., follow:1. Market price of Tennyson’s common stock: \($43.51\) at December 31, 2023, and \($31.36\) at December 31, 2022 2. Common shares
Net sales revenue, net income, and common stockholders’ equity for Connor Vision Corporation, a manufacturer of contact lenses, follow for a four-year period.Requirements:1. Compute trend
Comparative financial statement data of Hollingsworth, Inc., follow:1. Market price of Hollingsworth’s common stock: \($50.60\) at December 31, 2023, and \($33.49\) at December 31, 2022 2. Common
Select a company and obtain its financial statements. Convert the income statement and the balance sheet to common size and compare the company you selected to the industry average. Discuss how the
Describe horizontal analysis. Describe vertical analysis. What is each technique used for? How are the two methods similar? How are they different?
How is the current ratio calculated? What is it used to measure? How is it interpreted?
Assume a company has a current ratio of 2.0. List two examples of transactions that could cause the current ratio to increase. Also list two examples of transactions that could cause the current
Describe the set of circumstances that could result in net income increasing while return on investment (ROI) decreases.
Suppose a company has a relatively high inventory turnover. What does the high inventory turnover indicate about the company’s short-term liquidity?
Describe at least four financial conditions that may signal financial trouble.
Describe at least two reasons that a company’s ratios might not be comparable over time.
Describe why book value per share of common stock may not be useful for investment analysis.
Find a recent annual report for a publicly held company in which you are interested.Summarize what sustainability information is provided in that annual report. Based on the sustainability
There are three components in the triple bottom line: people, planet, and profit. Which component do you think is most important? Why?
Starbucks Corporation’s net revenues over a five year period were as follows (in millions of dollars): *• \($29,060.6\) (2021)• \($23,518.0\) (2020)• \($26,508.6\) (2019)• \($24,719.5\)
Select financial data for Starbucks Corporation is as follows (in millions of dollars):*• Current assets \($9,756.4\)• Inventory \($1,603.9\) (end of fiscal 2021) and \($1,551.4\) (end of fiscal
Healthful Living Corporation’s annual sales and net income data for the years 2017–2023 as well as the company’s 2023 and 2022 comparative income statements are presented below.Requirements:1.
Healthful Living Corporation’s income statement was presented in Summary Problem 1. The company’s balance sheets (adapted) at the end of fiscal years 2023 and 2022 are presented below.Other
Another name for a report containing sustainability information is a(n)a. environmental, social, and governance (ESG) report.b. corporate social responsibility (CSR) report.c. Botha. andb. are
All of the following represent monetary information in an environmental management accounting system excepta. gallons of waste water generated.b. costs to upgrade factory to use renewable energy
Following are the 17 UN Sustainable Development Goals (SDGs). For each goal, match the example from the right column that best illustrates that SDG. UN Sustainable Development Goal (SDG) Item Example
For each of the situations listed, identify the primary standard from the IMA Statement of Ethical Professional Practice that is violated (competence, confidentiality, integrity, or credibility). 1.
Complete the following statements with one of the terms listed here. You may use a term more than once, and some terms may not be used at all.1. _________ is the process of analyzing current and
The Jamtime Toy Manufacturing Company has an environmental goal to eliminate the use of non-recyclable packaging materials within the next five years. The company adopted this goal two years ago, so
The manufacture of appliances can produce hazardous waste. New manufacturing facilities and processes can eliminate or greatly decrease the amount of hazardous waste generated. In addition, products
Sustainability involves more than just the impact of actions on the environment. The triple bottom line recognizes that a company has to measure its impact on people, planet, and profit for its
Each of the following scenarios describes a sustainability-related cost item for organizations in recent years. For each scenario, identify which function of the value chain that cost would represent
Classify each of the following sustainability key performance indicators (KPIs) according to the balanced scorecard perspective it addresses. Choose from the following five perspectives:• Financial
In its Corporate Social Responsibility report, the Blue Giraffe Candy Company details the results from the steps it has taken to embed a sustainable culture throughout its business operations. In the
Sustainability involves more than just the impact of actions on the environment. The triple bottom line recognizes that a company has to measure its impact on the economy, the environment, and
Classify each of the following sustainability key performance indicators (KPIs) according to the balanced scorecard perspective it addresses. Choose from the following five perspectives:• Financial
This case is a continuation of the Burburr Resorts & Hotels Corporation serial case that began. The components of the Burburr serial case can be completed in any order. Burburr Resorts & Hotels
Increasingly, there are calls to manufacture hybrid or electric cars. Businesses and individuals purchase these cars to be environmentally friendly. However, there is an ongoing debate about whether
EnergyCo is an electric utility serving markets in the Midwest, Mid-Atlantic, and Southeastern regions. It operates an infrastructure of nearly 350,000 miles of distribution lines stretching across
Pressure to become more sustainable can usually be categorized into several reasons, including cost reduction and regulatory compliance. Think of an organization you’re familiar with. Which
Adding a fifth perspective of “community” to the traditional four balanced scorecard perspectives (financial, customer, internal business, and learning and growth) is sometimes advocated as a way
Information from an environmental management accounting (EMA) system can be used to support managers and their primary responsibilities of planning, directing, and controlling. Think of an
Find a recent annual report for a publicly held company in which you are interested.Summarize what sustainability information is provided in that annual report. Based on the sustainability
There are three components in the triple bottom line: economic, environmental, and social. Which component do you think is most important? Why?
Oftentimes, an investment in sustainable technology is more costly than a comparable investment in traditional technology. What arguments can you make for the investment in sustainable technology?
Stakeholders are frequently the reason that companies adopt sustainable practices.Think of an organization with which you are familiar. List as many stakeholders as you can think of for this
The chapter discussed five challenges to implementing an environmental management accounting (EMA) system within an organization. From your viewpoint, which of these challenges seems to be the
Where do you think sustainability reporting is heading in the future? Will companies become more transparent, or is sustainability reporting going to be mostly on internal reports? How important do
Classify each of the following GRI topics according to whether it addresses sustainability from an economic, environmental, or social standpoint. 1. Customer health and safety 2. Child labor 3.
Place the following activities in order from first to last to illustrate the capital budgeting process:a. Screen and analyze investments using one or more of the methods discussedb. Engage in capital
Refer to Woodsy Music in S12-10. What is the approximate internal rate of return (IRR) of the studio investment?Data From S12-10:-Woodsy Music is considering investing \($625,000\) in private lesson
For each of the situations listed, identify the primary standard from the IMA Statement of Ethical Professional Practice that is violated (competence, confidentiality, integrity, or credibility).a.
Complete the following statements with one of the terms listed here. You may use a term more than once, and some terms may not be used at all.1. An example of the _______ component of time series
Robinson Hardware is adding a new product line that will require an investment of \($1,550,000\). Managers estimate that this investment will have a 10-year life and generate net cash inflows of
Refer to Vargas Products in E12-30A. Compute the IRR of each project and use this information to identify the better investment.Data From E12-30A:-Use the NPV method to determine whether Vargas
Consider how Wolf Valley, a popular ski resort, could use capital budgeting to decide whether the \($8\) million Brook Park Lodge expansion would be a good investment.Requirements:1. Compute the
Refer to the Wolf Valley Data Set in E12-35A.Requirements:1. What is the project’s NPV? Is the investment attractive? Why or why not?2. Assume that the expansion has no residual value. What is the
A variety of robots have been featured at the National Restaurant Show that can be used for a variety of tasks in restaurants. These robots were introduced at the same time that an ongoing debate
Congratulations! You’ve won a state lotto! The state lottery offers you the following (aftertax)payout options:Requirements:Assuming that you can earn 10% on your funds, which option would you
Refer to McKnight Products in E12-51B. Compute the IRR of each project and use this information to identify the better investment.Data From E12-51B:-Use the NPV method to determine whether McKnight
Consider how Soar Mountain, a popular ski resort, could use capital budgeting to decide whether the \($9.5\) million State Park Lodge expansion would be a good investment.Requirements:1. Compute the
Refer to the Soar Mountain Data Set in E12-56B.Requirements:1. What is the project’s NPV? Is the investment attractive? Why or why not?2. Assume the expansion has no residual value. What is the
A variety of robots have been featured at the National Restaurant Show that can be used for a variety of tasks in restaurants. These robots were introduced at the same time that an ongoing debate
1. Charlie just hit the jackpot in Las Vegas and won \($30,000\)! If he invests it now, at a 14% interest rate, how much will it be worth fifteen years from now?2. Roderick would like to have
This case is a continuation of the Burburr Resorts & Hotels Corporation serial case that began.1. The components of the Burburr serial case can be completed in any order. Burburr Resorts & Hotels
For years, it has been cheaper to manufacture many products overseas (China and other countries) than in the United States. Labor is still less expensive overseas than in the United States, but the
The Habbertone Company is considering investing in a wind turbine to generate its own power. Any unused power will be sold back to the local utility company. Between cost savings and new revenues,
The Habbertone Company is considering investing in a wind turbine to generate its own power. Any unused power will be sold back to the local utility company. Between cost savings and new revenues,
The Habbertone Company is considering investing in a wind turbine to generate its own power. Any unused power will be sold back to the local utility company. Between cost savings and new revenues,
The Habbertone Company is considering investing in a wind turbine to generate its own power. Any unused power will be sold back to the local utility company. Between cost savings and new revenues,
Sonoma is considering investing in solar paneling for the roof of its large distribution facility.The investment will cost $9 million and have a six-year useful life and no residual value.Because of
Sonoma is considering investing in solar paneling for the roof of its large distribution facility. The investment will cost \($9\) million and have a six-year useful life and no residual value.
The statement of cash flows is designed to showa. the revenues the company has earned during the period.b. how profits were generated during the period.c. the inflow and outflow of cash during the
The cash proceeds from the sale of a plant asset would appear on the statement of cash flows as a(n)a. increase in the financing section.b. decrease in the financing section.c. increase in the
Dividends paid to a company’s stockholders would appear on the statement of cash flows as a(n)a. increase in the financing section.b. decrease in the financing section.c. increase in the investing
Which of the following would be classified as a decrease in the financing section of the statement of cash flows?a. Purchase of new equipmentb. Issuance of common stockc. Payoff of a long-term
When preparing the cash provided by operations section of the statement of cash flows using the indirect method, which of the following would provide cash?a. An increase in accounts receivableb. A
An increase in the Taxes Payable account from the beginning of the year to the end of year would be what type of adjustment to “net cash provided by operations” if the company uses the indirect
When preparing the cash provided by operations section of the statement of cash flows using the indirect method, which of the following would be shown as a use of cash?a. An increase in salaries
Which of the following sections will be prepared differently if the direct method is used to prepare the statement of cash flows instead of the indirect method?a. Operating activitiesb. Investing
Describe at least four needs for cash within a business.

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