UOP ACC 561 Final Guide (New, with Excel File) NEW

UOP ACC 561 Final Guide (New, with Excel File) NEW

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This Tutorial contains Excel Sheet to solve Problem for any Values

Exercise 1-6 (Part Level Submission)

Calculate the net income.

Prepare the 2017 retained earnings statement for Metlock.Inc

Exercise 1-14

Wayne Holtz is the bookkeeper for Bramble Corp.. Wayne has been trying to get the balance sheet of Bramble Corp. to balance. It finally balanced, but now he’s not sure it is correct

Exercise 2-9

Nordstorm, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions of dollars) for a recent year follows.       Compute working capital and current ratio at the beginning of the year and at the end of the year.

P2-5A

Problem 2-5A

The following are financial statements of Nash's Trading Post, LLC.

Nash's Trading Post, LLC

Income Statement

For the Year Ended December 31, 2017

additional information: The net cash provided by operating activities for 2017 was $201,600. The cash used for capital expenditures was $110,700. The cash used for dividends was $32,630. The weighted-average number of shares outstanding during the year was 50,000.

Expand Your Critical Thinking 13-4

The Coca-Cola company and PepsiCo, Inc. Provide refreshments to every corner of the world. Suppose selected data from recent consolidated financial statements for The Coca-Cola company and for PepsiCo, Inc. are presented here (in millions).

Brief Exercise 212 (Part Level Submission)

The following items were taken from the financial statements of Mint, Inc., over a three-year period:    

 Compute the amount and percentage change from 2016 to 2017.

 Compute the amount and percentage change from 2017 to 2018.

Exercise 15-4

Manufacturing cost data for Orlando Company, which uses a job order cost system, are presented below.

Indicate the missing amount for each letter. Assume that in all cases manufacturing overhead is applied on the basis of direct labor cost and the rate is the same.

Multiple Choice Question 83

Barr Mfg. provided the following information from its accounting records for 2017:

Expected production 60,000 labor hours

Actual production   56,000 labor hours

Budgeted overhead  $900,000

Actual overhead     $870,000

How much is the overhead application rate if Barr bases the rate on direct labor hours?

Multiple Choice Question 94

If annual overhead costs are expected to be $750,000 and direct labor costs are expected to be $1,000,000, then if the activity base is direct labor costs:

Multiple Choice Question 112

Gulick Company developed the following data for the current year:

Beginning work in process inventory

$240,000

Direct materials used

144,000

Actual overhead

288,000

Overhead applied

216,000

Cost of goods manufactured

264,000

Total manufacturing costs

720,000

Gulick Company's ending work in process inventory is

Multiple Choice Question 43

Hartley Company produces two products, Flower and Planter. Flower is a high-volume item totaling 20,000 units annually. Planter is a low-volume item totaling only 6,000 units per year. Flower requires one hour of direct labor for completion, while each unit of Planter requires 2 hours. Therefore, total annual direct labor hours are 32,000 (20,000 + 12,000). Expected annual manufacturing overhead costs are $960,000. Hartley uses a traditional costing system and assigns overhead based on direct labor hours. Each unit of Planter would be assigned overhead of

Exercise 17-1

Saddle Inc. has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based on direct labor costs. The president has heard of activity-based costing and wants to see how the results would differ if this system were used. Two activity cost pools were developed: machining and machine setup. Presented below is information related to the company’s operations.

      Standard          Custom

Direct labor costs          $50,000           $119,000

Machine hours      1,390       1,280

Setup hours        105         380

Total estimated overhead costs are $306,000. Overhead cost allocated to the machining activity cost pool is $197,000, and $109,000 is allocated to the machine setup activity cost pool.

Compute the overhead rate using the traditional (plantwide) approach. (Round answer to 2 decimal places, e.g. 12.25.)

Predetermined overhead rate       

 % of direct labor cost

Compute the overhead rates using the activity-based costing approach. 

Determine the difference in allocation between the two approaches

Exercise 17-9

Air United, Inc. manufactures two products: missile range instruments and space pressure gauges. During April, 46 range instruments and 296 pressure gauges were produced, and overhead costs of $84,100 were estimated. An analysis of estimated overhead costs reveals the following activities.

Perdon Corporation manufactures safes—large mobile safes, and large walk-in stationary bank safes. As part of its annual budgeting process, Perdon is analyzing the profitability of its two products. Part of this analysis involves estimating the amount of overhead to be allocated to each product line. The information shown below relates to overhead.

Multiple Choice Question 55

An example of a cost which would not be assigned to an overhead cost pool is

Multiple Choice Question 71

Boswell Company manufactures two products, Regular and Supreme. Boswell’s overhead costs consist of machining, $3,000,000; and assembling, $1,500,000. Information on the two products is:

      Regular      Supreme

Direct labor hours   10,000 15,000

Machine hours 10,000 30,000

 Number of parts 90,000 160,000

Overhead applied to Supreme using activity-based costing is

Multiple Choice Question 124

Kingbird, Inc. began the year with retained earnings of $925000. During the year, the company issued $1274000 of common stock, recorded expenses of $3650000, and paid dividends of $242000. If Kingbird ending retained earnings was $985000, what was the company’s revenue for the year?

Multiple Choice Question 122

Sheffield Corp. began the year by issuing $106000 of common stock for cash. The company recorded revenues of $1214000, expenses of $965000, and paid dividends of $56000. What was Sheffield net income for the year?

Multiple Choice Question 131

Pharoah Company started the year with total assets of $219000 and total liabilities of $129000. During the year the business recorded $334000 in revenues, $171000 in expenses, and dividends of $54000. The net income reported by Pharoah Company for the year was

Multiple Choice Question 135

If total liabilities decreased by $131500 and stockholders’ equity decreased by $42000 during a period of time, then total assets must change by what amount and direction during that same period?

Multiple Choice Question 80

Use the following data to determine the total dollar amount of assets to be classified as current assets.

Multiple Choice Question 78

Use the following data to determine the total amount of working capital.

Multiple Choice Question 86

Swifty Corporation has assets of $3590000, common stock of $941000, and retained earnings of $600000. What are the creditors’ claims on their assets?

Multiple Choice Question 102

The following information is available for Bradshaw Corporation and Newell Corporation:

(in millions)  Bradshaw Corporation      Newell Corporation

      2017  2016  2017  2016

Preferred dividends  25    10    0     30

Net income      500   480   490   520

Shares outstanding at the end of the year   200   180   150   200

Shares outstanding at the beginning at the year    180   150   200   220

Based on the information for both Bradshaw and Newell over the two-year period, the earnings per share calculations (rounded to two decimals) indicate that

Multiple Choice Question 128

A company with $60,000 in current assets and $35,000 in current liabilities pays a $1,000 current liability. As a result of this transaction, the current ratio and working capital will

Multiple Choice Question 131

Splish Brothers Inc. had a balance in the Accounts Receivable account of $766000 at the beginning of the year and a balance of $864000 at the end of the year. Net credit sales during the year amounted to $6417000. The accounts receivable turnover was

Multiple Choice Question 80

Use the following data to determine the total dollar amount of assets to be classified as current assets. Oriole Company Balance Sheet

Multiple Choice Question 78

Use the following data to determine the total dollar amount of assets to be classified as current assets. Novak Corp. Balance Sheet

Multiple Choice Question 86

Swifty Corporation has assets of $3590000, common stock of $941000, and retained earnings of $600000. What are the creditors’ claims on their assets?

Multiple Choice Question 102

Based on the information for both Bradshaw and Newell over the two-year period, the earnings per share calculations (rounded to two decimals) indicate that

Multiple Choice Question 128

A company with $60,000 in current assets and $35,000 in current liabilities pays a $1,000 current liability. As a result of this transaction, the current ratio and working capital will

Multiple Choice Question 131

Splish Brothers Inc. had a balance in the Accounts Receivable account of $766000 at the beginning of the year and a balance of $864000 at the end of the year. Net credit sales during the year amounted to $6417000. The accounts receivable turnover was

Multiple Choice Question 134

Novak Corp. had a balance in the Accounts Receivable account of $813000 at the beginning of the year and a balance of $906000 at the end of the year. Net credit sales during the year amounted to $8068000. The accounts receivable turnover was

Exercise 171

Moresan Co. gathered the following information on power costs and factory machine usage for the last six months:

Exercise 19-18

Langdon Company produced 9,600 units during the past year, but only 8,500 of the units were sold. The following additional information is also available. There was no work in process inventory at the beginning and end of the year, nor did Langdon have any beginning finished goods inventory.

UOP ACC 561 Week 1 Individual Assignment Financial Statements (2 Papers) NEW

UOP ACC 561 Week 1 Individual Assignment Financial Statements (2 Papers) NEW

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Purpose of Assignment

This activity helps students recognize the significant role accounting plays in providing financial information to management for decision making through the evaluation of financial statements. This experiential assignment requires students to use ratios to evaluate and analyze a company's liquidity, solvency, and profitability.

Assignment Steps

Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC), University Library, Library resources: Company Directories and Financials

Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products.

Select a publicly traded, U.S. corporation with which you are familiar or one where you currently work or have worked in the past.

Research the company on the Internet and download the Income Statement, Statement of Shareholders' Equity, Balance Sheet, and Statement of Cash Flows.

Develop a minimum 700-word examination of the financial statements and include the following:

· Determine the net income for the current fiscal year (FY). Is this income up or down from the prior year?

· Explain the relevance of changes in net income to investors.

· Determine the ending balance in shareholders' equity. Why would organizations such as labor unions be interested in this?

· Determine the total value of assets.

· Discuss the relevance of the total value of assets to potential creditors and why this is important.

· Compute the return on assets. Discuss the relative profitability of the company based on your results.

· Compute the working capital and current ratio. Evaluate the relative liquidity of the company based on your results.

· Compute the debt to assets ratio and the free cash flow for your company. Analyze the results and comment on the relative solvency of the company.

· Discuss how the financial statements are used in your current role or a position you would like to hold. How might these aid you in managerial decision making?

Show your work in Microsoft® Word or Excel®.

Complete calculations/computations using Microsoft® Word or Excel®.

Include the four financial statements along with your assignment.

Format your assignment consistent with APA guidelines.

Click the Assignment Files tab to submit your assignment.

UOP ACC 561 Week 3 Assignment Ratio Analysis (P Jason) NEW

UOP ACC 561 Week 3 Assignment Ratio Analysis (P Jason) NEW

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http://www.acc561assignment.com/acc-561-uop/acc-561-week-3-assignment-ratio-analysis-latest

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Purpose of Assignment

This week's focus is on the preparation of financial reports for internal users, such as managers. This case study applies the concepts of managerial accounting, through comparative and ratio analysis, and requires students to identify financial data needed by managers for decision making.

About Your Signature Assignment

This signature assignment is designed to align with specific program student learning outcome(s) in your program. Program Student Learning Outcomes are broad statements that describe what students should know and be able to do upon completion of their degree. The signature assignments may be graded with an automated rubric that allows the University to collect data that can be aggregated across a location or college/school and used for program improvements.

Assignment Steps

Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Committee (SEC)

Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products.

Scenario: You are a loan officer for White Sands Bank of Taos. Paul Jason, president of P. Jason Corporation, has just left your office. He is interested in an 8-year loan to expand the company's operations. The borrowed funds would be used to purchase new equipment. As evidence of the company's debt-worthiness, Jason provided you with the following facts:

2017

2016

Current Ratio

3.1

2.1

Asset Turnover

2.8

2.2

Net Income

Up 32%

Down 8%

Earnings per Share

$3.30

$2.50

Jason is a very insistent (some would say pushy) man. When you told him you would need additional information before making your decision, he acted offended and said, "What more could you possibly want to know?" You responded you would , at minimum, need complete, audited financial statements.

Develop a minimum 700-word examination of the financial statements and include the following:

·        Explain why you would want the financial statements to be audited.

·        Discuss the implications of the ratios provided for the lending decision you are to make. That is, does the information paint a favorable picture? Are these ratios relevant to the decision? State why or why not.

·        Evaluate trends in the performance of White Sands Bank. Identify each performance measure as favorable or unfavorable and explain the significance of each.

·        List three other ratios you would want to calculate for White Sands Bank of Taos, and in your own words explain in detail why you would use each.

·        As the loan officer, what else would you do to gain a better understanding of Paul Jason's, and the Corporation's financial picture and why?

·        Based on your analysis of White Sands Bank, will you recommend approval for the requested loan? Provide specific details to support your decision.

Format the assignment consistent with APA guidelines.

Click the Assignment Files tab to submit your assignment.

UOP ACC 561 Week 2 Assignment Accounting Methods (Bizcon, New Syllabus) NEW

UOP ACC 561 Week 2 Assignment Accounting Methods (Bizcon, New Syllabus) NEW

Check this A+ tutorial guideline at

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Purpose of Assignment

This week's activity illustrates the role a company's accounting method plays in financial statement reporting. In this assignment, students evaluate the events occuring in a business setting and determine how to properly analyze those events to identify the impact on both cash and accrual accounting methods.

Assignment Steps

Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC)

Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products.

Scenario: BizCon, a consulting firm, has just completed its first year of operations. The company's sales growth was explosive. To encourage clients to hire its services, BizCon offered 180-day financing - meaning its largest customers do not pay for nearly 6 months. Because BizCon is a new company, its equipment suppliers insist on being paid cash on delivery. Also, it had to pay up front for 2 years of insurance. At the end of the year, BizCon owed employees for one full month of salaries, but due to a cash shortfall, it promised to pay them the first week of next year.

As the senior accountant, the Chief Financial Officer has asked you to prepare a memo to be sent to management notifying them of the delayed wage payments.

Prepare the memo in a maximum 700 words including the following information to better outline the situation:

· Explain how cash and accrual accounting differs for each of the events listed in the above scenario and describe the proper accrual accounting.

· Assess how at the end of the year, BizCon reported a favorable net income, yet the company's management is concerned because the company is very short of cash. Explain to management how BizCon could have positive net income and yet run out of cash.

UOP ACC 561 Week 3 Team Financial Statement Analysis and Decision Making Activity NEW

UOP ACC 561 Week 3 Team Financial Statement Analysis and Decision Making Activity NEW

Check this A+ tutorial guideline at

http://www.acc561assignment.com/acc-561-uop/acc-561-week-3-team-financial-statement-analysis-and-decision-making-activity-latest

For more classes visit

http://www.acc561assignment.com

Purpose of Assignment

The activity requires students to perform research and analysis on competing companies and the potential implications of international standards. This real-world analysis is key to understanding how a company's profitability, liquidity, and solvency can be useful for all users. Students also learn to analyze financial statements and use managerial tools to make decisions from an investor's and creditor's standpoint.

Assignment Steps

Resources: U.S. Securities and Exchange Commission (SEC), websites such as Annual Reports (AnnualReports.com)

Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products.

Select two competing companies, one of which must be an international company, and locate annual reports for these two companies on the Internet.

Research the two companies on the Internet and download the Income Statement, Statement of Shareholders' Equity, Balance Sheet, and Statement of Cash Flows.

Develop a minimum 525-word examination of the financial statements and include the following:

· Make a 5-year trend analysis for each company, using 2011 as the base year, of:

o Net sales.

o Net income. Discuss the significance of the trend results.

· Compute for 2015 and 2014 the:

o Debt to assets ratio.

o Times interest earned. How would you evaluate each company's solvency?

· Compute for 2015 and 2014 the:

o Profit margin.

o Asset turnover.

o Return on assets.

o Return on common stockholders' equity. How would you evaluate each company's profitability?

· Evaluate the financial opportunity presented by the companies. If you were a creditor, which company would you be more likely to lend money to? Defend your decision.

· Which company would you recommend as an investment? Discuss the items that were considered in your decision.

· Research global implications for the international company selected. How might changing environmental factors affect organizational choices?

· Consider the ethical climate (internal or external) of your chosen companies. Describe the ethical issues and impact on the stakeholders. What has been/is being done to resolve these issues? Do you agree with these methods for resolution? If not, what might you do differently?

Show your work in Microsoft® Word or Excel®.

Complete calculations/computations using Microsoft® Word or Excel®.

Include the four financial statements along with your assignment.

Format your assignment consistent with APA guidelines.

Click the Assignment Files tab to submit your assignment.

Note: Grades are awarded based upon individual contributions to the Learning Team assignment. Each Learning Team member receives a grade based upon his/her contributions to the team assignment. Not all students may receive the same grade for the team assignment.