Acct Hw Chap Solutions Essay Example Essay Example

Acct Hw Chap Solutions Essay Example Paper Acct Hw Chap Solutions Essay Introduction For example, when a company carries a high level of long-term debt relative to assets, it has lower solvency, Information on long-term obligations, such as long-term debt and notes payable, in comparison to total assets and stockholders’ equity can be used to assess resources that will be needed to meet these fixed obligations (such as interest and principal payments). 3. Financial flexibility is the ability of an enterprise to take effective actions to alter the amounts and timing to cash flows so can respond to unexpected needs and opportunities. An enterprise with a high degree of financial flexibility is better able to survive bad times, to recover from unexpected setbacks, and to take advantage of profitable and unexpected investment opportunities. Generally, the greater the financial flexibility, the lower the risk of enterprise failure. 4. Some situations in which estimates affect amounts reported in the balance sheet include: (a) allowance for loan losses. (b) deprecia ble lives and estimated salvage values for plant and equipment. (c) warranty returns. (d) determining the amount of revenues that should be recorded as unearned. When estimates are required, there is subjectivity in determining the amounts. Such subjectivity can impact the usefulness of the information by reducing the reliability Of the measures, either because Of bias or lack of verifiability. . An increase in inventories increases current assets, which is in the numerator Of the current ratio. Therefore, inventory increases Will increase the current ratio. In general, an increase in the current ratio indicates a company has better liquidity, since there are more current assets relative to current liabilities. Acct Hw Chap Solutions Essay Body Paragraphs Note to instructors-?when inventories increase faster than sales. This may not be a good signal about liquidity. That is, inventory can only be used to meet current obligations when it is sold (and converted to cash). That is why some analysts use a liquidity ratio-?the acid test ratio-?that excludes inventories room current assets in the numerator. 6. Liquidity describes the amount of time that is expected to elapse until an asset is converted into cash or until a liability has to be paid. The ranking of the assets given in order of liquidity is: (1) (d) Short-term investments. (2) (e) Accounts receivable. (3) (b) Inventories. (4) (c) Buildings. (5) (a) Goodwill, Questions Chapter 4 (Continued) 7. (I) (2) (3) The values stated are generally historical and not current or fair value. Estimates have to be used in many instances, such as in the determination Of collectivity Of receivables or finding he approximate useful life of long-term tangible and intangible assets. Many items, even though they have financial value to the business, presently are not recorded. One example is the value of a commands human resources. 8. Some items of value to technology companies such as Intel or IBM are the value of research and development (new products that are being developed but which are not yet marketable), the value of the Wanderlust capital† of its workforce (the ability of the companies’ employees to come up with new ideas and products in the fast changing technology industry), and the value of the many reputation or name brand (e. G. , the â€Å"Intel Inside† logo). In most cases, the reasons why the value of these items is not recorded in the balance sheet concern the lack to reliability tooth estimates tooth future cash flows that will be generated by these â€Å"assets† (for all three types) and the ability to control the use of the asset (in the case of employees). Being able to reliably measure the expected future benefits and to control the use of an item are essential elements of the definition of an asset, according to the Conceptual Framework. 9. Classification in financial statements helps users by grouping items with similar heartsickness and separating items with different characteristics. Current assets are expected to be converted to cash within one year or one operating cycle, while property, plant and equipment, will provide cash inflows over a longer period of time. Thus, separating long-term assets from current assets facilitates computation of useful ratios such as the current ratio. 10. Separate amounts should be reported for accounts receivable and notes receivable. The amounts should be reported gross, and an amount for the allowance for doubtful accounts should be deducted. The amount and nature Of any annotated achievable, and any amounts pledged or discounted, should be clearly stated. II. Available-for-sale securities should be reported as a current asset only if management intends to convert t hem into cash as needed within one year or the operating cycle, whichever is longer. If available-for-sale securities are not held with this expectation, they should be reported as long-term investments. 12. The relationship between current assets and current liabilities is that current liabilities are those obligations that are reasonably expected to be liquidated either through the use of current assets or the creation of other current abilities. 3, The total selling price of the season tickets is (10,000 X $1 Of this amount, has been earned by 12/31/08 (18/40 x The remaining should be reported as unearned revenue, a current liability in the 12/31108 balance sheet (22/40 X 14. Working capital is the excess of total current assets over total current liabilities. This excess is sometimes called net working capital, with current assets and current liabilities being the components of working capital. Current assets and current liabilities consist of items that will be converted into c ash or paid within a year or he operating cycle, whichever is longer The working capital components are the financial resources utilized by an enterprise in its operating cycle. 2008 Questions Chapter 4 (Continued) 15. (a) (b) (c) (d) (e) (f) (g) (h) (i) 16. (a) (b) (c) (d) (e) (n (g) Stockholders’ Equity. â€Å"Capital stock shares) reacquired and held in treasury-?at cost,† Note: This is a reduction of stockholders’ equity. Current Assets. Included in â€Å"Cash. † Investments. â€Å"Land held as an investment. † Stockholders’ Equity. Appropriation for bonded redemption† or â€Å"Appropriation for sinking fund. † Long-term debt (adjunct account to bonds payable). Amortized premium on bonds payable. † Intangible Assets, â€Å"Copyrights,† Investments. â€Å"Employees’ pension tuned,† with substations of â€Å"Cash† and â€Å"Securities† if desired, (Assumes that the company still owns t hese assets,) Stockholders’ Equity. â€Å"Premium on capital stock† or â€Å"Additional paid-in capital in excess of par value,† Investments, Nature of investments should be given together with parenthetical information as follows: â€Å"pledged to secure loans payable to banks. Allowance for doubtful accounts should be deducted from accounts receivable. Merchandise held on consignment should not appear on he consignee?s balance sheet except possibly as a note to the financial statements. Advances received on sales contract are normally a current liability and should be shown as such in the balance sheet. Cash surrender value of life insurance should be shown as a long-term investment. Land should be reported in property, plant, and equipment unless held for investment. Merchandise out on consignment should be shown among current assets under the heading Of inventories. Pension fund on deposit With trustee should be shown among nonoccurrence assets under a sepa rate heading or grouped with similar funds and opposite in investment section. Note: Some pension funds are not reported on the balance sheet. This situation occurs when the company funds the pension plan through another party such that the company loses control over the funds. Franchises should be itemized in a section for intangible assets. Accumulated depreciation of plant and equipment should be deducted from the plant and equipment accounts. Materials in transit should not he shown on the balance sheet of the buyer, it purchased f. o. B. Destination. Trade accounts receivable should be stated at their estimated realizable value. The method most generally followed is to deduct trot the total accounts receivable the amount to the allowance for doubtful accounts. Land is generally stated in the balance sheet at cost. Inventories are generally stated at the lower of cost or market to provide for any possible losses and to avoid the anticipation of profits not yet realized, Trading securities consisting of common stock are generally stated at fair value. Prepaid expenses should be stated at cost less the amount apportioned to and written off over the previous accounting periods. (h) (i) 0) 17. (a) (b) (c) (d) (e) 18. Assets are defined as probable future economic benefits obtained or controlled by a particular entity as 3 result Of past transactions or events. If a building is leased, the future economic benefits of using the building are controlled by the lessee as the result Of a past event (the signing Of a lease agreement). 2008 4-6 Questions Chapter 4 (Continued) 19. Zigzag is incorrect. Retained earnings is a source to assets, but is not an asset itself. For example, even though the funds obtained from issuing a note payable are invested in the business, the note payable is not reported as an asset. It is a source of assets, but it is reported s a liability because the company has an obligation to repay the note in the future. Similarly, even though the earnings are invested in the business, retained earnings is not reported as an asset It is reported as part of stockholders’ equity because it is, in effect, an investment by owners which increases the ownership interest in the assets of an entity. 20. The notes should appear as long-term liabilities with full disclosure as to their terms. Each year, as the profit is determined, notes of an amount equal to two-thirds of the year’s profits should be transferred from the long-term liabilities to current liabilities until all of the totes hue been liquidated. 21. The Alton Z score is a measure Which indicates a company’s financial distress. The measure is computed as: Z= Working Capital Total Assets Retained Earnings BIT Sales NV Equity Total Liabilities Balance sheet information used includes: Current assets, Current liabilities, Total assets, Retained earnings, and Total liabilities. 2, â€Å"Subsequent events’ are of vivo types: (1) Those which affect th e financial statements directly and should be recognized therein through appropriate adjustments. (2) Those which do not attest the tangential statements directly and require no adjustment to the account balances but whose effects may be significant enough to be disclosed with appropriate figures or estimates shown. (a) Probably adjust the financial statements directly. (b) Disclosure, (c) Disclosure. (d) Disclosure. (e) Neither adjustment nor disclosure necessary. F) Neither adjustment nor disclosure necessary. (g) Probably adjust the financial statements directly. (h) Neither adjustment nor disclosure necessary. 23 Some of the techniques of disclosure for the balance sheet are: l. Parenthetical explanations. 2. Notes to the financial statements. 3. Supporting schedules. Cross references accounts (see page 169) and contra and adjunct accounts. 24 A statement entitled â€Å"Summary of Significant Accounting Policies† would indicate the basic accounting principles used by that enterprise. We will write a custom essay sample on Acct Hw Chap Solutions Essay Example specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Acct Hw Chap Solutions Essay Example specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Acct Hw Chap Solutions Essay Example specifically for you FOR ONLY $16.38 $13.9/page Hire Writer

The NAFTA Act of 1993 essays

The NAFTA Act of 1993 essays In 1993, the North American Free Trade Agreement (NAFTA) was passed. Included was a gradual removal of tariffs on various goods traded between Mexico, Canada and the United States. The first implementation of these tariff removals began on January 1, 1994. According to the U.S. information service, "Under the NAFTA, all non tariff barriers to agricultural trade between the United States and Mexico were eliminated. In addition, many tariffs were eliminated immediately, with others to be phased out, resulting in full implementation of all agricultural provisions by the year 2008." (Economic Perspectives, June 1996) It may be worth noting, in the aftermath of the recent outbreak of mad cow disease in a northwestern United States dairy herd that among the tariffs removed, making trade easier and more profitable for Canada, were restrictions and tariffs on agricultural products, including cattle. The infected cow was traced to a dairy cow producer in Canada. Since 1989, a U.S.-Canada Free Trade Agreement had been in effect; all the provisions incorporated in that, including tariffs, had been incorporated into NAFTA all tariff affecting agricultural trade between those two signatories to NAFTA had been removed by January 1, 1998. (Economic Perspectives, June A similar process was instituted, under NAFTA, regarding Mexico. All non tariff measures affecting agricultural trade between the U.S. and Mexico were eliminated in that first round, on January 1, 1994. Tariffs were to be eliminated in phases, with some tariff removed almost immediately. On January 1, 1996, the third round of tariff cuts with Mexico went into effect. Duty-free U.S. access increased 3 percent under Mexico's tariff- rate quotas covering corn, dried beans, poultry, barley, animal fats, eggs, and potatoes. (Economic Perspectives, June 1996) USAID noted that both Mexico and the U.S. have...

The Relationship Between Women in Various Dimensions Research Paper

The Relationship Between Women in Various Dimensions - Research Paper Example The European community had a different perception of feminism besides advocating equal rights granted to men. The Europeans definition of feminism expressed â€Å"womanliness† that exhibited sexual diversity. With that regard, the feminist critiqued social structures and institutions for failing to provide opportunities for women with respect to their gender status. In this aspect, the goal of feminist does not focus on promoting rights and privileges granted to men but to have institutions and social structures that are inclusive of women. For example, they are supporting state subsidies of all mothers. Definition of feminism takes into consideration the roles of women in society. Every society has specific roles for men or women. The advocate of â€Å"relational feminism† demanded the freedom of women to participate in all professions and be freed from the confines of the households. Therefore, feminism focuses on the privileges of women to take part in voting, having rights, etc. It supports the establishment of social structures and institutions that can promote women to be more self-reliant, and they are competing for the same ranks with men in all aspects of life. The other aspect the definition of feminism takes into consideration is how women should or should not be considered or treated thus it establishes an ideology of fairness or morality. It sets standards of justice that defines how women should be viewed and treated in society. Feminism focus on promoting peace between men and women and advocates respects for women and abolishment of the oppressive culture such as women beating.

Damage Caused By Oil Spills Essay Example | Topics and Well Written Essays - 1000 words

Damage Caused By Oil Spills - Essay Example In terms of property damage, there are certain laws that have been enacted owing to which people can claim for damages caused by the negative approach or negligence. However, individual or business units often deny the claim against a particular damage. This can be apparently seen in the cases of LOVELACE v. FIGURE SALON, INC and NATIONAL CANDY WHOLESALERS, INC. v. CHIPURNOI, INC. In this particular case held in the Court of Appeals of Georgia, the plaintiffs i.e. Marilyn Lovelace and her husband prosecuted a fitness facilities business run by named My Fair Lady. The business provides fitness equipment to its clients with the aim of improving their health and fitness. However, Marilyn Lovelace got injured from the equipment provided by My Fair Lady. The business further denied from entertaining any of the claims of the plaintiff on the ground of the contract signed amid the two parties. The defendant claimed that the contract signed by the plaintiff clearly mentioned that the use of the equipment by the customers for any exercise is entirely at their own risk. Hence, the defendant denied entertaining any claim of the plaintiff on the aforementioned ground (Leagle, Inc. 2014). In this particular case, National Candy Wholesalers, Inc (NCW) had taken a particular space of Atlanta Civic Center for lease. The company further provided a portion of the lease space to manufacturers of candies to showcase their products among which Chipurnoi was also included.

Brand Management Across Geographic Boundaries and Market Segments Essay Example for Free

Brand Management Across Geographic Boundaries and Market Segments Essay Apples encouragement of differentiation between product designs and its promotion of secrecy around new product launches heightens the Apple mystique. These create the Apple halo effect, where a buyer of one Apple product has a high probability of returning to Apple for other products as well. Apples has emphasized its unique retail stores through design for several of its flagship locations as well as tailoring the retail experience to include product test drives, classes and workshops geared teaching users about its products. With relatively light presence in lower-margin, higher-growth geographic areas, Apple will experience less of its halo effect and reduced product/brand recognition, lowering sales potential. With China and India estimated to make up about 66% of PC market growth through 2010, this could be a significant challenge for Apple. Competition Against the Mac: Apples position is improving in the worldwide PC market; the Mac still represents a small fraction of the overall PC market. Apple enjoys a unique advantage of having something of a niche market without needing to compete directly with Hewlett-Packard Company (HPQ) and Dell (DELL) and Microsoft (MSFT) operating systems for enterprise endorsement. Against the iPod: Although Apple remains the industry leader in PMPs, the competition is making significant gains. The popularity of flash-based PMPs is problematic for Apple, which has much stronger market presence in hard-drive based (HDD) players. To combat this, Apple may release a new flash-based line of players. Apple in the Living Room Apple’s iPod and iTunes are a powerful combination that fosters a network style of increasing returns. By selling iPods, Apple increases the consumer demand for music from iTunes. By placing more musical choices on iTunes there is more demand for iPods. Apple is shooting for the digital living room of the future. For example, Apple just released a â€Å"boom box† portable version of the iPod. This comes with a remote control. Apple is clearly trying to develop a stronger core competency in the entertainment area. Style at a Premium Apple’s products are trendy and stylish. After Jobs returned in 1997, Apple retained a special designer called Jonathan Ive to differentiate their computers. Ive’s design of the iMac included clear colorful cases that distinguished Apple computers. Apple positions its Macintosh computers as higher quality and higher price. HP, Dell, and other PC manufacturers are pricing many systems. Although the Mac Mini is a base model with few features, it comes in a very small and distinctive package. Apple portrays this computer as â€Å"Small is Beautiful†. (Apple) Likewise, the iPod Shuffle was Apple’s first entry of flash-memory-based portable music players. Apple and the Digital Lifestyle Apple not only dominates the music player market, its iLife suite provides consumers with easy-to-use software for music and video composition. With â€Å"podcast† a household word, Apple’s Garage Band application makes the recording of podcasts and music very easy. Operating Segments Apple breaks its sales into five â€Å"operating segments†. The chart below shows the sales by segment for each year 2002-2005. On a percentage basis, only the retail segment appears to be outperforming the others. Differentiation Apple pioneered the PDA market by introducing the Newton in 1993. Later, Apple introduced the easy-to-use iMac in 1998, and updates following 1998. In 2001, Apple hit another important historical point by launching iTunes. This marked the beginning of Apple’s new strategy of making the Mac the hub for the â€Å"digital lifestyle†. Apple then opened its own stores, in spite of protests by independent. Then Apple introduced the iPod, central to the â€Å"digital lifestyle† strategy. Philip W. Schiller, VP of Worldwide Product Marketing for Apple, stated, â€Å"iPod is going to change the way people listen to music.† He was right. Apple continued their innovative streak with advancements in flat-panel LCDs for desktops in 2002 and improved notebooks in 2003. In 2003, Apple released the iLife package, containing improved versions of iDVD, iMovie, iPhoto, and iTunes. Apple continued its digital lifestyle strategy by launching iTunes Music Store online in 2003, In 2003, Apple released the world’s fastest PC (Mac G5).

Humorous Wedding Speech from the Father of the Bride -- Wedding Toasts

Humorous Wedding Speech from the Father of the Bride Distinguished guests, those of dubious distinction and those of no distinction, family, relatives, in-laws and outlaws, young and old, friends, friends of friends, freeloaders and hangers-on – let me extend a warm welcome to Meradith and Naren’s wedding reception celebration. Winston Churchill was apparently asked to address a prep school and he got up and said, â€Å"Never, Never, Never give up!† then he sat down. Well you are not going to get away quite as easily as that, but I will try to be brief. There aren’t many people who find themselves in the position I find myself in today. I’m married, 35 and I have two sons, yet I find myself in the role of â€Å"Father of the Bride†, but as I am Meradith’s brother I consider it a great honour and would like to say how proud I am to be giving away my beautiful baby sister today. I know I speak on behalf of my mother and the rest of Meradith’s family when I say how proud we are today to see Meradith looking so beautiful, finally married to Naren. During the time we have known him we have come to realise how special he is to Meradith, and everyone can see how they are made for each other. He is really likable and easy going, and we are happy to welcome him formally into our family. At this point in the proceedings, it is traditional to bring up an embarrassing moment from Meradith’s past or to highlight ... ...uite hard to carry out. You must both realise that marriage isn’t easy, but it’s not impossible. Many of us know that everyone faces ups and downs in a life commitment. There is no secret to a happy marriage. You’ll both have to work at it, like many of us. There is no challenge in a marriage that cannot be overcome by the following three, three-word sentences. These are: I was wrong! You were right! I love you! Meradith and Naren, Here’s to the past for all that you’ve learned Here’s to the present for all that you share And here’s to the future for all that you can look forward to together. Ladies and Gentlemen, please be upstanding, and raise your glasses to Meradith and Naren

Qatar’s Banking System

1. 0 Subject Area Strategic Management 2. 0 Project Proposal The paper will be an investigation of the major challenges that face Qatar’s banking sector. These problems will be analyzed and their possible solutions identified using strategic management theoretical framework. 3. 1 Background of Qatar’s Banking Sector Qatar’s banking sector has had great growth compared to that or the general Middle East region. Its stability guarded it form the global financial crisis that recently occurred. This is because of the close financial tiers that Qatar has with the Gulf region.However, the aftershocks of this phenomenon affected it to some extent (Kamrava, 2009, p. 411). Generally, Qatar’s banking sector was the most impressive Gulf Cooperation Council markets since the last quarter of the year 2008. Issues of declining customer confidence, liquidity and a coerced reluctance to lend have been the major challenges facing this sector (Qatar Development Bank, 2008, p. 12). Lending restrictions by the Qatar Central Bank, such as a loan-to-deposit ratio of 90 percent, contributes to deepening of these challenges.Islamic banking has been continuing to grow in this region in expense of the conventional banks which now view sharia-compliance as vital move to maintain their profitability. The government and Qatar Investment Authority have been trying to mitigate these problems to improve the overall performance (Qatar National Bank, 2009, p. 67). 3. 2 Aims of the study To identify and analyze the major challenges facing the banking sector of Qatar To determine the possible solutions to this problems using strategic management 3. Motivation for this subject area choice This topic is important for my future career prospects since I intend to invest in Qatar emerging market. I highly believe that the Qatar’s economy has unexploited potential in its banking sector. If exploited, this sector is capable of sending positive external benefits to the general economy increasing the viability of my investment prospects, due to financial availability amongst other efficiencies. 4. 0 Research Question 5. 3 What are the major challenges facing the banking sector of Qatar? . 4 Are these problems from within Qatar’s economy or from the regional / global economy? 5. 5 What are the possible solutions to this problems using strategic management? 5. 6 What are the impacts of solutions proposed to Qatar’s economy at large? 5. 0 Title Addressing challenges facing the banking sector in Qatar through strategic management 6. 0 Methodology The methodology employed for this paper will be both empirical and analytical in nature. In the analytical part, existing literature will be thoroughly scrutinized.After this, a comprehensive list of challenges of Qatar’s banking sector and their possible solutions will be compiled. The empirical part will involve collection of statistical data relating to the banking sector. This informat ion will then be analyzed by use of various statistical techniques. Type of data employed will include literature from other scholars, official statistics, industrial data and company data. This will be gathered from credible sources including libraries, databases, official guides, publications, and companies’ annual reports. . 0 Data collection methods They will include compilation of statistics, desk research, interviews, survey questionnaires and literature case studies. Secondary data will be highly employed since it is easily available and more detailed. Reference Kamrava, M. (2009), â€Å"Royal Factionalism and Political Liberalization in Qatar†, The Middle East Journal, Vol. 63, No. 3 pp. 401-420, Print. Qatar Development Bank, (2008), Annual Report, Print. Qatar National Bank, (2009, May), Qatar Economic Review, Print.