Serf Exported Syllabus Title: ACCT-151-w1&2-fa99 syllabus Columns: 11 EventID: 13853 SyllabusID: 299 Position: 1 Type: 7 Heading: Course Syllabus Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13854 SyllabusID: 299 Position: 2 Type: 1 Heading:

Welcome

Tracking: 0 Weight: 0 Deadline: 0 Columns: 1 Formatting: 3 Text: Welcome to the Web course on Financial Accounting II. Although this course hasn't started yet, you may be interested in a few items of importance that will help you navigate more smoothly through this course. EventID: 13855 SyllabusID: 299 Position: 3 Type: 1 Heading:

Course Description

Tracking: 0 Weight: 0 Deadline: 0 Columns: 1 Formatting: 3 Text: Financial Accounting II is the continuation of Financial Accounting I. It will lead you into a more indepth understanding of the following elements: forms of business organizations, advantages and disadvantages of corporations, accounting problems of the corporate entity, retained earning, reserves, investments, cash flow analysis, measurement and control of costs, analysis and interpretation, cost-revenue analysis, taxes, and other uses of accounting information. EventID: 13856 SyllabusID: 299 Position: 4 Type: 1 Heading:

Course Prerequisite

Tracking: 0 Weight: 0 Deadline: 0 Columns: 1 Formatting: 3 Text: Financial Accounting I (strongly suggest 'C' or better) EventID: 13857 SyllabusID: 299 Position: 5 Type: 1 Heading:

Program Outcomes

Tracking: 0 Weight: 0 Deadline: 0 Columns: 1 Formatting: 3 Text: Graduates of the Accounting Program will:
  • Possess a high degree of professionalism in meeting the standards required by the employer.
  • Understand the moral and legal ramifications of working in an ethical environment.
  • Be able to prepare a financial report for a sole proprietorship, partnership or corporation.
  • Read and interpret financial data.
  • Be skilled in written and oral communication.
  • Analyze transactions for decision making.
  • Meet the minimum qualifications to function as a junior accountant. EventID: 13858 SyllabusID: 299 Position: 6 Type: 1 Heading:

    Textbook

    Tracking: 0 Weight: 0 Deadline: 0 Columns: 1 Formatting: 3 Text:
  • ACCOUNTING: THE BASIS FOR BUSINESS DECISIONS. By Meigs, Williams, Haka & Bettner. McGraw-Hill Publishing Company, 11th edition, 1999.
  • STUDY GUIDE for USE with ACCOUNTING:THE BASIS FOR BUSINESS DECISIONS. By Meigs, Williams, Haka & Bettner. McGraw-Hill Publishing Company, 11th edition, 1999. EventID: 13859 SyllabusID: 299 Position: 7 Type: 1 Heading:

    Instructor

    Tracking: 0 Weight: 0 Deadline: 0 Columns: 1 Formatting: 3 Text: Lisa Marie McCauley, CPA
    Vice President for Finance and Operations
    Keystone #215
    Office (610) 861-5459
    E-mail (Office): lmccauley@northampton.edu
    E-mail (Home): lmmscuba@mail.ptd.net EventID: 13860 SyllabusID: 299 Position: 8 Type: 7 Heading: Specifics of Financial Accounting II Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13861 SyllabusID: 299 Position: 9 Type: 1 Heading:

    Student Learning Outcomes

    Tracking: 0 Weight: 0 Deadline: 0 Columns: 1 Formatting: 3 Text: As the student you will learn to:
  • Compute the income tax liability for individuals and corporations.
  • Explain the difference between prefered and common stock, and par value, stated value and no par value.
  • Make the necessary journal entries to record the issuance of capital stock.
  • Explain the differences between extraordinary gains and losses and prior period adjustments.
  • Compute Earning Per Share and Book Value Per Share.
  • Make necessary journal entries to record the purchase and sale of treasury stock.
  • Know and explain the characteristics of a bond.
  • Make the necessary journal entries to record the issuance and retirement of bonds.
  • Compute the amortization of bond premium or discount.
  • Prepare a statement of cash flows.
  • Analyze and interpret financial statements by using the appropriate tools of analysis -- percentage changes and key ratios.
  • Understand simple international accounting concepts. EventID: 13862 SyllabusID: 299 Position: 10 Type: 1 Heading:

    Course Assignments

    Tracking: 0 Weight: 0 Deadline: 0 Columns: 1 Formatting: 3 Text: The course is divided into sections:
  • Textbook Reading
  • Outlines and Points of Interest
  • Study Guide Reading and Assignments
  • Chapter Demonstration Problem and Self-test
  • Textbook Homework Assignments
  • Projects
  • Discussion Forums
  • Chapter Quiz.
    You are responsible for completing the assigned work within the period noted.
  • Homework, such as textbook exercises and problems, must be completed on a spreadsheet application and forwarded to the instructors' e-mail address.
  • Discussion Forums are open daily, however there may be a specified night(s) each week that will be a review of some material. These can also be used to discuss weekly projects and homework assignments between yourselves. I will be monitoring the activity as a guide to your participation in the class. EventID: 13864 SyllabusID: 299 Position: 11 Type: 1 Heading:

    Grading Policy

    Tracking: 0 Weight: 0 Deadline: 0 Columns: 1 Formatting: 3 Text: Each Assignment / Project / Observational Item / Exam will be graded as indicated on the "WEIGHT", the following is an overall summary:
    Category Total Points Total %%%%
    Homework 90 7 %
    Quiz 90 7 %
    Projects 45 4 %
    Discussion Forums 50 4 %
    Compreshensive Problems 200 16 %
    Test 1 200 16 %
    Test 2 200 16 %
    Comprehensive Final 400 30%
    EventID: 13865 SyllabusID: 299 Position: 12 Type: 1 Heading:

    Overall Course Grades

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    Grade Score %%
    A 93-100%
    A- 90-92 %
    B+ 87-89 %
    B 83-86 %
    B-80-82 %
    C+ 77-79 %
    C 73-76 %
    C- 70-72 %
    D 63-69 %
    D- 61-62 %
    F Below 61%
    EventID: 13866 SyllabusID: 299 Position: 13 Type: 2 Heading: CHAPTER 10: Liabiliites Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13867 SyllabusID: 299 Position: 14 Type: 1 Heading:

    Chapter 10 Learning Objectives

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  • Define liabilities and distinguish between current and long-term liabilities.
  • Account for notes payable and interest expense.
  • Describe the costs relating to payrolls.
  • Prepare and amortization table allocating payments between interest and principal.
  • Describe corporate bonds and explain the tax advantage of debt financing.
  • Explain the concept of present value.
  • Account for post-retirement costs.
  • Describe and account for deferred income taxes.
  • Evaluate the safety of creditors'claims.
  • Define loss contingencies and explain their presentation in financial statements.
  • Account for bonds issued at a discount. EventID: 17384 SyllabusID: 299 Position: 15 Type: 1 Heading:

    Chapter 10: Instructor Points of Interest

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  • In discussing the general nature of liabilities, it should be pointed out that only interest which has accrued through balance sheet date is a liability. No liability currently exists with respect to interest charges applicable to future periods. This concept provides the foundation for accounting for notes payable.
  • Taxes witheld from employees are current liabilities of the employer, but do not increase the overall cost of having employees on the payroll. However, taxes levied upon the employer increase the cost of employing a work force to an amount greater than wages and salaries expense.
  • For 'real world' examples of loss contingencies, you can research information regarding Texaco and Pennzoil;or A.H. Robbins, a pharmaceutical company. EventID: 13868 SyllabusID: 299 Position: 16 Type: 1 Heading:

    Chapter 10: Reading Assignments

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  • Chapter 10, including supplemental topic.
  • Study Guide Highlights.
  • Review the textbook self-test, answers are located at the end of the chapter.
  • Complete the Study Guide Exercises and Problems in your book; do not transmit, these are for your review and learning experiences. EventID: 13873 SyllabusID: 299 Position: 17 Type: 8 Heading:

    Chapter 10:Textbook Homework Assignment

    Tracking: 0 Weight: 10 Deadline: 7 Columns: 1 Formatting: 3 Text: Complete the following exercises and problems on an electronic spreadsheet application (Excel, Lotus). Please save the file as an excel spreadsheet and forward it through e-mail as an attachment.
  • Exercises #10.2, 10.4, 10.7, 10.8
  • Problems #10.3, 10.5, 10.8, 10.9
    Problem areas indicated during the instructor review process will be brought to the class in the Discussion Forum for review as a group prcoess. Announcements will be made accordingly. EventID: 17025 SyllabusID: 299 Position: 18 Type: 8 Heading:

    Chp 10 Project - Annual Reports

    Tracking: 0 Weight: 5 Deadline: 10 Columns: 1 Formatting: 3 Text: Use the internet to access a publicly owned corporation and request a copy of its annual report (written requests can be made through the Corporate Secretery). A large number of companies have posted their reports on the Web. Since this is a Web based course I would encourage you to use this form of technology if possible.
  • Notify the instructor by e-mail, of the annual report used,and the Http name used (internet request). EventID: 17026 SyllabusID: 299 Position: 19 Type: 2 Heading: QUIZ Chapter 10 Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13874 SyllabusID: 299 Position: 20 Type: 1 Heading:

    CHAPTER 10: QUIZ!!!

    Tracking: 0 Weight: 0 Deadline: 0 Columns: 1 Formatting: 3 Text: The following questions will test your comprehension of the reading material, study guide and textbook homework; it should be used as a guide for upcoming tests. EventID: 17385 SyllabusID: 299 Position: 21 Type: 14 Heading: Chapter 10.1 Tracking: 0 Weight: 2 Deadline: 1 Columns: 2 Formatting: 3 Text: 1149 EventID: 17386 SyllabusID: 299 Position: 22 Type: 14 Heading: Chapter 10.2 Tracking: 0 Weight: 2 Deadline: 1 Columns: 2 Formatting: 3 Text: 1150 EventID: 17387 SyllabusID: 299 Position: 23 Type: 14 Heading: Chapter 10.3 Tracking: 0 Weight: 2 Deadline: 1 Columns: 2 Formatting: 3 Text: 1151 EventID: 17388 SyllabusID: 299 Position: 24 Type: 14 Heading: Chapter 10.4 Tracking: 0 Weight: 2 Deadline: 1 Columns: 2 Formatting: 3 Text: 1152 EventID: 17389 SyllabusID: 299 Position: 25 Type: 14 Heading: Chapter 10.5 Tracking: 0 Weight: 2 Deadline: 1 Columns: 2 Formatting: 3 Text: 1153 EventID: 13888 SyllabusID: 299 Position: 26 Type: 2 Heading: CHAPTER 11:Stockholders' Equity: Paid-in Capital Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13889 SyllabusID: 299 Position: 27 Type: 1 Heading:

    Chapter 11: Learning Objectives

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  • Discuss the advantages and disadvantages of organizing a business as a corporation.
  • Distinguish between publicly owned and closely held corporations.
  • Explain the rights of stockholders and the roles of corporate directors and officers.
  • Account for paid-in capital and prepare the equity section of a corporate balance sheet.
  • Contrast the features of common stock with those of preferred stock.
  • Discuss the factors affecting the market price of preferred and common stock.
  • Explain the significance of par value, book value, and market value of common stock.
  • Explain the purpose and effects of a stock split.
  • Account for treasury stock transactions. EventID: 13892 SyllabusID: 299 Position: 28 Type: 1 Heading:

    Chapter 11: Instructor Points of Interest

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  • Students generally have more difficulty with the concept of retained earnings than the issuance of common stock. The textbook demonstrates the computation of retained earnings that stresses: retained earnings is an element of stockholders' equity, not a quantity of cash.
  • The basic purpose of issuing prefered stock is to raise capital from a particular type of investor. In some respects, preferred stock more closely resembles debt than equity. EventID: 13893 SyllabusID: 299 Position: 29 Type: 1 Heading:

    Chapter 11: Reading Assignment

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  • Textbook chapter 11
  • Study guide highlights.
  • Textbook demonstration problem. EventID: 13895 SyllabusID: 299 Position: 30 Type: 8 Heading:

    Chapter 11:Homework Assignment

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  • Review the textbook self-test, answers are located in the back of the chapter.
  • Complete the study guide exercises and problems in the book; DO NOT TRANSMIT.
  • Complete the following exercises and problems on an electronic spreadsheet application -- save as an excel file. Forward the file as an e-mail attachment.
  • Exercise #11.1,11.2, 11.3, 11.4, 11.5, 11.6, 11.7, 11.10
  • Problem #11.1, 11.5, 11.7
    Concerns can be addressed through the discussion forum or by direct e-mail to the instructor. EventID: 17612 SyllabusID: 299 Position: 31 Type: 8 Heading:

    Project - Stockholders' Equity

    Tracking: 0 Weight: 5 Deadline: 0 Columns: 0 Formatting: 3 Text: Using the annual report you received and the textbook Appendix D (Toys R Us) report, prepare a document that compares and contrats the two reports, in the stockholders' equity section. Forward the document to the instructor and be ready to participate in the Dicussion Forum with this information. EventID: 17402 SyllabusID: 299 Position: 32 Type: 2 Heading: Chapter 11: QUIZ Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13896 SyllabusID: 299 Position: 33 Type: 1 Heading:

    CHAPTER 11: QUIZ!!!

    Tracking: 0 Weight: 0 Deadline: 0 Columns: 1 Formatting: 3 Text: The following questions will test your comprehension of the reading material, study guide and textbook homework; it should be used as a guide for upcoming tests. EventID: 17613 SyllabusID: 299 Position: 34 Type: 14 Heading: Chapter 11.1 Tracking: 0 Weight: 2 Deadline: 1 Columns: 2 Formatting: 3 Text: 1159 EventID: 17614 SyllabusID: 299 Position: 35 Type: 14 Heading: Chapter 11.2 Tracking: 0 Weight: 2 Deadline: 1 Columns: 2 Formatting: 3 Text: 1160 EventID: 17615 SyllabusID: 299 Position: 36 Type: 14 Heading: Chapter 11.3 Tracking: 0 Weight: 2 Deadline: 1 Columns: 2 Formatting: 3 Text: 1161 EventID: 17616 SyllabusID: 299 Position: 37 Type: 14 Heading: Chapter 11.4 Tracking: 0 Weight: 2 Deadline: 1 Columns: 2 Formatting: 3 Text: 1162 EventID: 17617 SyllabusID: 299 Position: 38 Type: 14 Heading: Chapter 11.5 Tracking: 0 Weight: 2 Deadline: 1 Columns: 2 Formatting: 3 Text: 1163 EventID: 13898 SyllabusID: 299 Position: 39 Type: 2 Heading: CHAPTER 12: Income and Changes in Retained Earnings Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13899 SyllabusID: 299 Position: 40 Type: 1 Heading:

    Chapter 12 Learning Objectives

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  • Decribe how discountinued operations, extraordinary items, and accounting changes are presented in the income statement.
  • Compute earnings per share.
  • Distinguish between basic and diluted earnings per share.
  • Account for cash dividends and stock dividends, and explain the effects of these transactions on a company's financial statements.
  • Describe and prepare a statement of retainedearnings.
  • Define prior period adjustments, and explain how they are presented in financial statements.
  • Define comprehensive income, and explain how its different from net income.
  • Describe and prepare a statement of stockholders' equity. EventID: 13902 SyllabusID: 299 Position: 41 Type: 1 Heading:

    Chapter 12: Instructor Points of Interest

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  • Discountinued operations are covered because organizations are in an era or "corporate restructuring"; they tend to be more common place in the financial statements of publicly held corporations.
  • Discountinued operations are far more common place ( and more material in dollar) than are extraordinary items; Prior period adjustments, by comparison are virtually non-existant in the financial statements of large corporations.
  • In discussing irregular events, the focus is on the appropriate financial statement presentation rather than upon the recording of transactions. Most of the transactions are recorded in the same fashion as ordinary transactions.
  • With earnings per share (EPS) the conceptual understanding is important but the mechanics of the EPS calculation are beyond the scope of this course.
  • The stock holders equity section of this chapter includes a variety of short topics which are very interesting. EventID: 13904 SyllabusID: 299 Position: 42 Type: 1 Heading:

    Chapter 12: Reading Assignments

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  • Chapter 12
  • Study Guide Highlights EventID: 13905 SyllabusID: 299 Position: 43 Type: 8 Heading:

    Chapter 12: Textbook Homework Assignment

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  • Review the textbook self-test, answers are located at the end of the chapter.
  • Complete the Study Guide exercises and problems in your book; do not transmit, these are for your review and learning experiences.
    Complete the following exercises and problems on an electronic spreadsheet application -- save as an excel file. Forward the file to the instructor as an e-mail attachment.
  • Exercise # 12.1, 12.2, 12.4, 12.5, 12.6, 12.8, 12.10
  • Problem # 12.1, 12.3, 12.4, 12.6
    Problems???? Talk to your classmates -- e-mail the instructor; don't wait until exam time! EventID: 17619 SyllabusID: 299 Position: 44 Type: 22 Heading:

    Chapter 12: Internet Project Assignment

    Tracking: 0 Weight: 5 Deadline: 7 Columns: 1 Formatting: 3 Text: Complete Internet Assignment 12.1 on page 550 of your textbook. Please remember that the URL may change sightly from the time of the book printing -- you may have to do some additional serfing!!! EventID: 17618 SyllabusID: 299 Position: 45 Type: 2 Heading: Chapter 12: QUIZ Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13906 SyllabusID: 299 Position: 46 Type: 1 Heading:

    CHAPTER 12: QUIZ!!!

    Tracking: 0 Weight: 0 Deadline: 0 Columns: 1 Formatting: 3 Text: The following questions will test your comprehension of the reading material, study guide and textbook homework; it should be used as a guide for upcoming tests. EventID: 17621 SyllabusID: 299 Position: 47 Type: 14 Heading: Chapter 12.1 Tracking: 0 Weight: 2 Deadline: 1 Columns: 2 Formatting: 3 Text: 1166 EventID: 17622 SyllabusID: 299 Position: 48 Type: 14 Heading: Chapter 12.2 Tracking: 0 Weight: 4 Deadline: 1 Columns: 2 Formatting: 3 Text: 1167 EventID: 17623 SyllabusID: 299 Position: 49 Type: 14 Heading: Chapter 12.3 Tracking: 0 Weight: 4 Deadline: 1 Columns: 2 Formatting: 3 Text: 1168 EventID: 13910 SyllabusID: 299 Position: 50 Type: 2 Heading: EXAMINATION #1 Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13911 SyllabusID: 299 Position: 51 Type: 1 Heading:

    Exam #1

    Tracking: 0 Weight: 0 Deadline: 0 Columns: 1 Formatting: 3 Text: Chapters 10-11-12
    The test will include:
  • True/False Questions
  • Mutiple Choice QUestions
  • Problems (both quantitative and qualitative) EventID: 13912 SyllabusID: 299 Position: 52 Type: 8 Heading:

    Exam #1

    Tracking: 0 Weight: 200 Deadline: 1 Columns: 1 Formatting: 3 Text: Arrangements can be made with the instructor -- you have one week to schedule this exam. Bring your own calculator and pencils. EventID: 13913 SyllabusID: 299 Position: 53 Type: 2 Heading: Chapter 13: Statement of Cash Flows Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13914 SyllabusID: 299 Position: 54 Type: 1 Heading:

    Chapter 13: Learning Objectives

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  • Explain the purpose and usefulness of a statement of cash flows.
  • Describe how cash transactions are classified within a statement of cash flows.
  • Compute the major cash flows relating to operating activities.
  • Explain why net income differs from net cash flow from operating activities.
  • Distinguish between the direct and indirect methods of reporting operating cash flows.
  • Compute the cash flows relating to investing and financing activities.
  • Discuss the likely effects of various business strategies upon cash flows.
  • Compute net cash flow from operating activities using the indirect method.
  • Explain the role of a worksheet in preparing a statement of cash flows. EventID: 13915 SyllabusID: 299 Position: 55 Type: 1 Heading:

    Chapter 13: Instructor Points of Interest

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  • When FASB acted to replace the statement of chanf=ges in financial position with a new statement -- a statement of cash flows -- the Board significantly improved the quality of financial reporting and accounting education.
  • The new statement of cash flows is intuitively logical; it is more meaningful to readers of the financial statement and easier to understnd overall.
  • One area of controversy in presenting cash flows is whether to use the direct or indirect method for determining operating activities. FASB recommends the use of the direct method, but at present, the indirect method is far more widely used in practice.
  • The indirect method is covered in the supplemental topic section of the chapter. EventID: 13917 SyllabusID: 299 Position: 56 Type: 1 Heading:

    Chapter 13: Reading Assignments

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  • Chapter 13
  • Study Guide Highlights EventID: 13918 SyllabusID: 299 Position: 57 Type: 8 Heading:

    Chapter 13: Textbook Homework Assignment

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  • Review the textbook self-test, answers are located at the end of the chapter.
  • Complete the Study Guide Exercises and Problems in your book; do not transmit, these are for your review.
    Complete the following exercises and problems on an electronic spreadsheet and forward the file to the instructor.
  • Exercises #13.1, 13.2, 13.4, 13.6, 13.11
  • Problems #13.2, 13.6,13.9
    Questions??? Use the discussion forum!!!!! EventID: 17626 SyllabusID: 299 Position: 58 Type: 22 Heading:

    Chapter 13: Internet Project Assignment

    Tracking: 0 Weight: 5 Deadline: 7 Columns: 1 Formatting: 3 Text: Complete Internet Assignment 13.3 on page 1064 of your textbook. Submit information as requested. EventID: 17627 SyllabusID: 299 Position: 59 Type: 2 Heading: Chapter 13: QUIZ Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13919 SyllabusID: 299 Position: 60 Type: 1 Heading:

    Chapter 13: QUIZ!!!

    Tracking: 0 Weight: 0 Deadline: 0 Columns: 1 Formatting: 3 Text: The following questions will test your comprehension of the reading material, study guide and textbook homework; it should be used as a guide for upcoming tests. EventID: 13921 SyllabusID: 299 Position: 61 Type: 2 Heading: CHAPTER 14: Financial Statement Analysis Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13922 SyllabusID: 299 Position: 62 Type: 1 Heading:

    Chapter 14: Learning Objectives

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  • Explain the uses of dollar and percentage changes, trend percentages, component percenages, and ratios.
  • Discuss the quality of a company's earnings, assets, and working capital.
  • Explain the nature and purpose of classifications infinancial statements.
  • Prepare a classified balanc esheet and compute widely ised measures of liquidity and credit risk.
  • Prepare a multi-step and single-step income statement and compute widely used measures of profitability.
  • Put a comany's net income into perspective by relating it to sales, assets, and stockholders' equity.
  • Compute the ratios widely used in financial statement analysis and explain the significance of each.
  • Analyze financial statements from the viewpoints of stockholders, creditors and others. EventID: 13925 SyllabusID: 299 Position: 63 Type: 1 Heading:

    Chapter 14: Instructor Points of Interest

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  • This chapter exemplifies the continuing goal of increasing emphasis upon the interpretation and use of accounting information.
  • After reviewing some straightforward analytical tools, the chapter introduces statement classifications and ratios that the student should feel comfortable studying.
  • Students should have little difficulty understanding that a going-concern must be capable of satisfying its current liabilities, and that the resources to do so will come primarily from current assets.
  • Measures such as the current and quick asset ratios and wqorking capital thus have great intuitive appeal.
  • The important of return on investment is likewise easily motivated. EventID: 13926 SyllabusID: 299 Position: 64 Type: 1 Heading:

    Chapter 14: Reading Assignments

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  • Textbook Chapter 14
  • Study Guide Highlights EventID: 13928 SyllabusID: 299 Position: 65 Type: 8 Heading:

    Chapter 14: Homework Textbook Assignment

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  • Review the textbook self-test, answers are located at the end of the chapter.
  • Complete the Study Guide Exercises and Problems in your book; do not transmit, these are for your review and learning experiences.
    Complete the following exercises and problems on an electronic spreadsheet application, and forward to the instructor for grading.
  • Exercise # 14.2, 14.4, 14.5, 14.8, 14.11, 14.5, 14.16
  • Problem # 14.2, 14.5, 14.7, 14.11, 14.12
    EventID: 17628 SyllabusID: 299 Position: 66 Type: 8 Heading:

    Chapter 14: Internet Assignment

    Tracking: 0 Weight: 5 Deadline: 7 Columns: 1 Formatting: 3 Text: Complete the Internet Assignment 14.1 (Part I) from your textbook and submit a summary of your findings. EventID: 17629 SyllabusID: 299 Position: 67 Type: 2 Heading: Chapter 14: QUIZ!! Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13929 SyllabusID: 299 Position: 68 Type: 1 Heading:

    CHPATER 14: QUIZ!!!

    Tracking: 0 Weight: 0 Deadline: 0 Columns: 1 Formatting: 3 Text: The following questions will test your comprehension of the reading material, study guide and textbook homework; it should be used as a guide for upcoming tests. EventID: 13931 SyllabusID: 299 Position: 69 Type: 2 Heading: Chapter 15: Global Business Accounting Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13932 SyllabusID: 299 Position: 70 Type: 1 Heading:

    Chapter 15: Learning Objectives

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  • Define four mechanisms companies use to globalize their business activities.
  • >Identify how global environmental forces - a) political and legal systems, b) economic systems, c) culture, and d) technology and infrastructure -- affect a company's ability to compete globally.
  • Demonstrate how to convert an amount of money from one currency to another.
  • Compute gains or losses on receivables or payables that are stated in a foreign currency when exchange rates flucuate.
  • Describw several techniques for "hedging" against losses from fluctuations in exchange rates.
  • Understand how global sourcing increases product cost complexity.
  • Explain the importance of the Foreign Corrupt Practices Act. EventID: 13934 SyllabusID: 299 Position: 71 Type: 1 Heading:

    Chapter 15: Instructor Points of Interest

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  • The accelerating pace of globalization in business has made it incumbant upon us to introduce students to some of the accounting issues surrounding the phenomenon.
  • THe diversity in accounting worldwide is a logical extension of the variety of business environments throughout the world.
  • Although the more comlex accounting issues surrounding foreign currency transactions are not appropriate for the first course, yoo should have a fundamental understanding of the use of exchange rates and currency converstions. EventID: 13935 SyllabusID: 299 Position: 72 Type: 1 Heading:

    Chapter 15: Reading Assignments

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  • Textbook Chapter 15
  • Study Guide Highlights EventID: 13936 SyllabusID: 299 Position: 73 Type: 8 Heading:

    Chapter 15: Textbook Homework Assignment

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  • Review the textbook self-test, answers are located at the end of the chapter.
  • Complete the Study Guide Exercises and Problems in your book; do not transmit, these are for your review.
    Complete the following exercises and problems on an electronic spreadsheet application, and forward to the instructor.
  • Exercises # 15.1, 15.2, 15.5, 15.6, 15.7
  • Problem #15.2, 15.5, 15.6
    EventID: 17631 SyllabusID: 299 Position: 74 Type: 8 Heading:

    Chapter 15: Internet Assignment

    Tracking: 0 Weight: 5 Deadline: 7 Columns: 1 Formatting: 3 Text: Complete the textbook internet assignment 15.2 on page 1065 ofyour textbook. Summarize your findings and submit the information to the instructor. EventID: 17632 SyllabusID: 299 Position: 75 Type: 2 Heading: Chapter 15 QUIZ!! Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13937 SyllabusID: 299 Position: 76 Type: 1 Heading:

    Chapter 15: QUIZ!!!

    Tracking: 0 Weight: 0 Deadline: 0 Columns: 1 Formatting: 3 Text: The following questions will test your comprehension of the reading material, study guide and textbook homework; it should be used as a guide for upcoming tests. EventID: 17624 SyllabusID: 299 Position: 77 Type: 2 Heading: Comprehensive Problems Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 17625 SyllabusID: 299 Position: 78 Type: 8 Heading:

    Comprehensive Problem #3

    Tracking: 0 Weight: 200 Deadline: 14 Columns: 1 Formatting: 3 Text: The information and background for this problem can be found in your textbook starting on page page 671. Please complete all the requested information on an excell spreadsheet / or word document and forward the documents to the instructor as an e-mail attachment. EventID: 13938 SyllabusID: 299 Position: 79 Type: 2 Heading: EXAMINATION #2 Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13939 SyllabusID: 299 Position: 80 Type: 8 Heading:

    Exam #2 Procedures

    Tracking: 0 Weight: 200 Deadline: 1 Columns: 1 Formatting: 3 Text: Arrangements can be made with the instructor to take this exam which covers Chapters 13-14-15. You have one week to select a date. EventID: 13940 SyllabusID: 299 Position: 81 Type: 2 Heading: Appendix C: The Time Value of Money - Future Amounts and Present Values Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13941 SyllabusID: 299 Position: 82 Type: 1 Heading:

    Appendix C: Learning Objectives

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  • Explain what is meant by the time value of money.
  • Describe the relationships between present values and future amounts.
  • Explain three basic ways in which decision makers apply the time value of money.
  • Compute future amounts and the investments necessary to accumulate future amounts.
  • Compute present values of future cash flows.
  • Discuss accounting applications of the concept of present value. EventID: 13942 SyllabusID: 299 Position: 83 Type: 1 Heading:

    Appendix C:Textbook Reading Assignment

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  • Appendic C, page 1070 in your textbook.
  • Study Guide Highlights EventID: 13947 SyllabusID: 299 Position: 84 Type: 8 Heading:

    Appendix C:Textbook Homework Assignment

    Tracking: 0 Weight: 10 Deadline: 14 Columns: 1 Formatting: 3 Text: Complete the following exercises and submit the file to the instructor.
  • Problem # C.1, C.3, C.4, C.5, C.6
    EventID: 17633 SyllabusID: 299 Position: 85 Type: 2 Heading: Appendix C: QUIZ Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13948 SyllabusID: 299 Position: 86 Type: 1 Heading:

    Appendix C: QUIZ!!!

    Tracking: 0 Weight: 0 Deadline: 0 Columns: 1 Formatting: 3 Text: The following questions will test your comprehension of the reading material, study guide and textbook homework; it should be used as a guide for upcoming tests. EventID: 13950 SyllabusID: 299 Position: 87 Type: 2 Heading: Income Taxes: Personal & Corporate Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13951 SyllabusID: 299 Position: 88 Type: 1 Heading:

    Income Taxes

    Tracking: 0 Weight: 0 Deadline: 0 Columns: 1 Formatting: 3 Text: This chapter does not exist in this textbook. A file document will be forwarded to you for an outline and review of information. EventID: 13957 SyllabusID: 299 Position: 89 Type: 8 Heading:

    Income Tax: Homework Assignment

    Tracking: 0 Weight: 10 Deadline: 7 Columns: 1 Formatting: 3 Text: Problems will be forwarded to you in file format. Complete and return to the instructor. EventID: 17634 SyllabusID: 299 Position: 90 Type: 22 Heading:

    Project - Tax Essay

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  • Research and write a short essay regarding the mythical holiday "Tax Freedom Day".
  • Forward the document as an e-mail attachment. EventID: 17635 SyllabusID: 299 Position: 91 Type: 2 Heading: Income Taxes: QUIZ Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13958 SyllabusID: 299 Position: 92 Type: 1 Heading:

    Income Taxes: QUIZ!!!

    Tracking: 0 Weight: 0 Deadline: 0 Columns: 1 Formatting: 3 Text: The following questions will test you comprehension of the reading material, study guide and textbook homework; it should be used as a guide for upcoming tests. EventID: 13960 SyllabusID: 299 Position: 93 Type: 2 Heading: Chapter 19:Cost-Volume-Profit Analysis Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13961 SyllabusID: 299 Position: 94 Type: 1 Heading:

    Chapter 19: Learning Objectives

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  • Explain how fixed, variable, and semivariable costs respond to changes in the volume of business activity.
  • Explain how economies of scale can reduce unit costs.
  • Prepare a cost-volume-profit graph.
  • Compute contribution margin and explain its usefulness.
  • Determine sales volume required to earn a desired level of operating income.
  • Use the contribution margin ratio to estimate the change caused by a change in sales volume.
  • Use CVP relationships to eveluate a new marketing strategy. EventID: 13963 SyllabusID: 299 Position: 95 Type: 1 Heading:

    Chapter 19:Instructor Point of Interest

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  • The key to understanding of CVP analysis is to understand the significance of contribution margin, rather than to commit numerous formulas to memory.
  • Contribution margin is merely that fixed portion of revenue that 'contributes' to fixed costs and (after covering fixed costs) to operating income.
  • In short, all revenue except for contribution margin is consumed by the variable costs relating to the revenue.
  • WHen solving problems in CVP analysis, jot down the Contribution margin ratio or contribution margin per unit. One of these measurements is usually key to solving the problem. EventID: 13965 SyllabusID: 299 Position: 96 Type: 1 Heading:

    Chapter 19: Reading Assignments

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  • Textbook Chapter 19
  • Study Guide Highlights EventID: 13966 SyllabusID: 299 Position: 97 Type: 8 Heading:

    Chapter 19:Textbook Homework Assignment

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  • Review the textbook self-test.
  • Complete the Study Guide exercises and problems for your review.
    Complete the following exercises and problems and submit the file to the instructor.
  • Exercise #19.1, 19.7, 19.9, 19.11, 19.13, 19.14
  • Problem #19.2, 19.5, 19.7, 19.9
    EventID: 17637 SyllabusID: 299 Position: 98 Type: 22 Heading:

    Chapter 19: Internet Assignment

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  • Complete the internet assignment 19.1 from your textbook, page 858 and dubmit a summary of your findings. EventID: 17638 SyllabusID: 299 Position: 99 Type: 2 Heading: Chapter 19: QUIZ!! Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13967 SyllabusID: 299 Position: 100 Type: 1 Heading:

    Chapter 19 : QUIZ!!!

    Tracking: 0 Weight: 0 Deadline: 0 Columns: 1 Formatting: 3 Text: The following will test your comprehension of the reading material, study guide and textbook homework; it should be used as a guide for the upcoming test. EventID: 13971 SyllabusID: 299 Position: 101 Type: 2 Heading: COMPREHENSIVE EXAM - FINAL Tracking: 0 Weight: 0 Deadline: 0 Columns: 0 Formatting: 3 Text: EventID: 13972 SyllabusID: 299 Position: 102 Type: 8 Heading:

    Exam Instructions

    Tracking: 1 Weight: 400 Deadline: 1 Columns: 1 Formatting: 3 Text: The Finanl Examination will be available for one week, contact the instructor to make arrangements to take the final. Serf Exported Item Type=14 ID=1149 Title: Chapter 10.1 Columns: 7 ItemID: 1149 Parameter: 1 Text: ***Note this information it will be used as a basis for all 5 of the following questions*****
    On October 31, 1997, Winters Catering purchased two delivery vans for a total of $50,000, issuing a one-year, 9% note payable, all due at maturity. The interest on this loan is stated separately. Position: 1 Shuffle: 0 Feedback: Wrongback: ItemID: 1149 Parameter: 1 Text: Refer to the previous data:
    The December 31, 1997, adjusting entry for this note includes: Position: 2 Shuffle: 0 Feedback: Wrongback: ItemID: 1149 Parameter: 9 Text: A credit to cash for $1,125. Position: 3 Shuffle: 0 Feedback: The note indicated all funds were due at maturity, therefore no reduction to cash at this time. Wrongback: ItemID: 1149 Parameter: 9 Text: A credit to Interest Payable for $4,500. Position: 4 Shuffle: 0 Feedback: The account name is correct, however, you used the entire interst amount for 12 months, rather then the 2 required for the adjusting entry on 12/31/97. Wrongback: ItemID: 1149 Parameter: 8 Text: A credit to Interest Payable for $750. Position: 5 Shuffle: 0 Feedback: Excellent - only two months should be recognized. Wrongback: ItemID: 1149 Parameter: 9 Text: A credit to Interest Payable for $1,125. Position: 6 Shuffle: 0 Feedback: Your account name is correct, however, you calculated 3 months of interest -- only 2 are required -- the note was purchased on 10/31/97!. Wrongback: ItemID: 1149 Parameter: 10 Text: 0 Position: 7 Shuffle: 0 Feedback: 0 Wrongback: 0 Serf Exported Item Type=14 ID=1150 Title: Chapter 10.2 Columns: 7 ItemID: 1150 Parameter: 1 Text: Refer to the previous information
    The total liability for this note reported in Winters' December 31, 1997 balance sheet is: Position: 1 Shuffle: 0 Feedback: Wrongback: ItemID: 1150 Parameter: 9 Text: $50,000 Position: 2 Shuffle: 0 Feedback: You forgot to include the interest payable of $750. Wrongback: ItemID: 1150 Parameter: 8 Text: $50,750 Position: 3 Shuffle: 0 Feedback: Excellent - both principal and accrued interest are included. Wrongback: ItemID: 1150 Parameter: 9 Text: $53,750 Position: 4 Shuffle: 0 Feedback: You included the interest expense for 1998 not 1997 as requested. Wrongback: ItemID: 1150 Parameter: 9 Text: $54,500 Position: 5 Shuffle: 0 Feedback: You included the entire amount of interest during the 1997 and 1998. Only 1997 was requested ($750). Wrongback: ItemID: 1150 Parameter: 10 Text: 0 Position: 6 Shuffle: 0 Feedback: 0 Wrongback: 0 Serf Exported Item Type=14 ID=1151 Title: Chapter 10.3 Columns: 7 ItemID: 1151 Parameter: 1 Text: Refer to the previous data
    What is the amount od interest expense Winters Catering recognizes on this note in 1998. Position: 1 Shuffle: 0 Feedback: Wrongback: ItemID: 1151 Parameter: 8 Text: $3,750. Position: 2 Shuffle: 0 Feedback: Excellent calculation. Wrongback: ItemID: 1151 Parameter: 9 Text: $4,500. Position: 3 Shuffle: 0 Feedback: The amount reflects the entire note period, years 1997 and 1998. Wrongback: ItemID: 1151 Parameter: 9 Text: $3,375 Position: 4 Shuffle: 0 Feedback: You calculated 3 months for 1997 then subtracted from the total, creating an understatement -- 1998 is for 10 months. Wrongback: ItemID: 1151 Parameter: 9 Text: $750. Position: 5 Shuffle: 0 Feedback: This is the amount for 1997! Wrongback: ItemID: 1151 Parameter: 10 Text: 0 Position: 6 Shuffle: 0 Feedback: 0 Wrongback: 0 Serf Exported Item Type=14 ID=1152 Title: Chapter 10.4 Columns: 7 ItemID: 1152 Parameter: 1 Text: Refer to previous data
    How much must Winters Catering pay the lender upon maturity of this note? Position: 1 Shuffle: 0 Feedback: Wrongback: ItemID: 1152 Parameter: 8 Text: $54,500. Position: 2 Shuffle: 0 Feedback: Excellent calculations and understanding. Wrongback: ItemID: 1152 Parameter: 9 Text: $50,000. Position: 3 Shuffle: 0 Feedback: You forgot to include the interest of $4,500. Wrongback: ItemID: 1152 Parameter: 9 Text: $50,750. Position: 4 Shuffle: 0 Feedback: You forgot to include the interest related to 1998. Wrongback: ItemID: 1152 Parameter: 9 Text: $53,750. Position: 5 Shuffle: 0 Feedback: You forgot to include the interest for 1997. Wrongback: ItemID: 1152 Parameter: 10 Text: 0 Position: 6 Shuffle: 0 Feedback: 0 Wrongback: 0 Serf Exported Item Type=14 ID=1153 Title: Chapter 10.5 Columns: 7 ItemID: 1153 Parameter: 1 Text: Refer to the previous data
    THe liability for this loan as of December 31, 1997: Position: 1 Shuffle: 0 Feedback: Wrongback: ItemID: 1153 Parameter: 9 Text: Is equal to its maturity value. Position: 2 Shuffle: 0 Feedback: Remember its maturity value is $54,500 but only worth $50,750 on 12/31/97. Wrongback: ItemID: 1153 Parameter: 9 Text: Is equal to the book value of the two delivery vans which were acquired in the exchange. Position: 3 Shuffle: 0 Feedback: Different set of calculations involving depreciation. Wrongback: ItemID: 1153 Parameter: 9 Text: Is classified as a long-term liability, since it was used to acquire non-current assets. Position: 4 Shuffle: 0 Feedback: Long-term liabilities are based on a period greater than one year. Wrongback: ItemID: 1153 Parameter: 8 Text: Is classified as a long-term liability if Winters Catering has the intent and ability to refinance by taking out a new loan not due for several years. Position: 5 Shuffle: 0 Feedback: Excellent understanding of the concept. Wrongback: ItemID: 1153 Parameter: 10 Text: 0 Position: 6 Shuffle: 0 Feedback: 0 Wrongback: 0 Serf Exported Item Type=14 ID=1159 Title: Chapter 11.1 Columns: 7 ItemID: 1159 Parameter: 1 Text: Anders Corporation issued 150,000 shares of $5 par value capital stock at date of incorporation for cash at a price of $8 per share. During the first year of operations, the company earned $110,000 and declared a dividend of $75,000. At the end of this first year of operations, the balance of the Capital Stock account is: Position: 1 Shuffle: 0 Feedback: Wrongback: ItemID: 1159 Parameter: 9 Text: $1,200,000 Position: 2 Shuffle: 0 Feedback: Note the question requested the 'CAPITAL STOCK' account not Total Stockholders Equity which would include Paid-in Capital. Calculated as 150,000 shares x $5 par value. Wrongback: ItemID: 1159 Parameter: 9 Text: $1,310,000 Position: 3 Shuffle: 0 Feedback: Remember the question asked for the 'CAPITAL STOCK' account, not Stockholders Equity which would include Paid-in Capital and Earnings. Calculation is 150,000 shares x $5 par value = $750,000. Wrongback: ItemID: 1159 Parameter: 8 Text: $750,000 Position: 4 Shuffle: 0 Feedback: Excellent understanding and calculation. Wrongback: ItemID: 1159 Parameter: 9 Text: $785,000 Position: 5 Shuffle: 0 Feedback: Remember the question asked for "CAPITAL STOCK" not Stockholders Equity. Calculation is 150,000 shares x $5 par value = $750,000. Wrongback: ItemID: 1159 Parameter: 10 Text: 0 Position: 6 Shuffle: 0 Feedback: 0 Wrongback: 0 Serf Exported Item Type=14 ID=1160 Title: Chapter 11.2 Columns: 7 ItemID: 1160 Parameter: 1 Text: Dryden Corporation has 100,000 shares of $1 par value common stock and 20,000 shares of 6% cumulative preferred stock, $100 par value, outstanding. The balance in Retained Earnings at the beginning of the year was $1,000,000 and one year's dividends were in arrears. Net income for the current year was $520,000. If Dryden Corporation paid a dividend of $2 per share on its common stock, what is the balance in Retained Earnings at the end of the year? Position: 1 Shuffle: 0 Feedback: Wrongback: ItemID: 1160 Parameter: 9 Text: $1,320,000 Position: 2 Shuffle: 0 Feedback: You forgot the impact of preferred stock dividends (including the arrears). Wrongback: ItemID: 1160 Parameter: 9 Text: $1,520,000 Position: 3 Shuffle: 0 Feedback: You forgot the impact of both dividends on common stock and preferred stock. Wrongback: ItemID: 1160 Parameter: 9 Text: $1,200,000. Position: 4 Shuffle: 0 Feedback: You need to add income and subtract the dividend impact of both common and preferred stock. Wrongback: ItemID: 1160 Parameter: 8 Text: $1,080,000 Position: 5 Shuffle: 0 Feedback: Excellent calculation with dividends! Wrongback: ItemID: 1160 Parameter: 10 Text: 0 Position: 6 Shuffle: 0 Feedback: 0 Wrongback: 0 Serf Exported Item Type=14 ID=1161 Title: Chapter 11.3 Columns: 7 ItemID: 1161 Parameter: 1 Text: Eureka Corporation has total stockholders' equity of $8,800,000 as of December 31, 1997. The company has 300,000 shares of $2 par value common stock and 20,000 shares of 9% cumulative preferred stock, $100 par value, callable at a price of $110 per share, outstanding. Due to lower-than-expected net income, no dividends were declared by Eureka's board of directors for 1997. The book value per share of common stock is: Position: 1 Shuffle: 0 Feedback: Wrongback: ItemID: 1161 Parameter: 9 Text: $22.00 Position: 2 Shuffle: 0 Feedback: You forgot to account for the dividends in arrears for preferred stock which amounted to $180,000. Correct answer is $21.40! Wrongback: ItemID: 1161 Parameter: 8 Text: $21.40 Position: 3 Shuffle: 0 Feedback: Excellent! Wrongback: ItemID: 1161 Parameter: 9 Text: $20.00 Position: 4 Shuffle: 0 Feedback: Remember you need to exclude the value of preferred stock and any dividends in arrears. Correct answer is $21.40 Wrongback: ItemID: 1161 Parameter: 9 Text: $22.67 Position: 5 Shuffle: 0 Feedback: You are almost there, you forgot to exclude the $180,000 for preferred stock in arrears and the callable feature of the preferred stock. Correcft answer is $21.40 Wrongback: ItemID: 1161 Parameter: 10 Text: 0 Position: 6 Shuffle: 0 Feedback: 0 Wrongback: 0 Serf Exported Item Type=14 ID=1162 Title: Chapter 11.4 Columns: 7 ItemID: 1162 Parameter: 1 Text: Which of the following most likely explains why a corporation's stock trades at a very high price-earnings ratio? Position: 1 Shuffle: 0 Feedback: Wrongback: ItemID: 1162 Parameter: 8 Text: Investors expect the corporation to have higher earnings in the future. Position: 2 Shuffle: 0 Feedback: Excellent choice. Wrongback: ItemID: 1162 Parameter: 9 Text: The corporation pays a very low dividend on its stock Position: 3 Shuffle: 0 Feedback: Low dividends do not create high price earnings ratios. Wrongback: ItemID: 1162 Parameter: 9 Text: The corporation has several classes of stock outstanding. Position: 4 Shuffle: 0 Feedback: No the number does not matter its the higher earning that is important. Wrongback: ItemID: 1162 Parameter: 9 Text: The corporation is large with very low risk. Position: 5 Shuffle: 0 Feedback: Size does not have anything to do with it; but future earnings does. Wrongback: ItemID: 1162 Parameter: 10 Text: 0 Position: 6 Shuffle: 0 Feedback: 0 Wrongback: 0 Serf Exported Item Type=14 ID=1163 Title: Chapter 11.5 Columns: 7 ItemID: 1163 Parameter: 1 Text: Which of the following is not a characteristic of most preferred stock? Position: 1 Shuffle: 0 Feedback: Wrongback: ItemID: 1163 Parameter: 9 Text: Preference to dividends. Position: 2 Shuffle: 0 Feedback: This is a characteristic -- see page 485 of your textbook. Wrongback: ItemID: 1163 Parameter: 9 Text: No voting power. Position: 3 Shuffle: 0 Feedback: This is a characteristic -- see page 485 of your textbook. Wrongback: ItemID: 1163 Parameter: 8 Text: Convertible into common stock Position: 4 Shuffle: 0 Feedback: Excellent choice -- see page 485 of your textbook for additional items. Wrongback: ItemID: 1163 Parameter: 9 Text: Preference as to assets in the event of liquidation of the company. Position: 5 Shuffle: 0 Feedback: This is a characteristic -- see page 485 of your textbook. Wrongback: ItemID: 1163 Parameter: 10 Text: 0 Position: 6 Shuffle: 0 Feedback: 0 Wrongback: 0 Serf Exported Item Type=14 ID=1166 Title: Chapter 12.1 Columns: 7 ItemID: 1166 Parameter: 1 Text: Apex corporation declared a 2 for 1 common stock split, but this transaction was erroneously recorded as a 100% common stock dividend. As a result: Position: 1 Shuffle: 0 Feedback: Wrongback: ItemID: 1166 Parameter: 8 Text: The common stock account is overstated. Position: 2 Shuffle: 0 Feedback: Excellent understanding. Wrongback: ItemID: 1166 Parameter: 9 Text: The total dollar amount of stockholders equity is overstated. Position: 3 Shuffle: 0 Feedback: No its net effect is -0-, but common stock account is overstated. Wrongback: ItemID: 1166 Parameter: 9 Text: The corporate records do not show the correct number of shares of common stock outstanding Position: 4 Shuffle: 0 Feedback: No - outstanding number will no change except for a board vote to increase or decrease (with stockholders approval). However, the common stock account will be overstated. Wrongback: ItemID: 1166 Parameter: 9 Text: The par value per share is understated. Position: 5 Shuffle: 0 Feedback: No actually it is overstated. Wrongback: ItemID: 1166 Parameter: 10 Text: 0 Position: 6 Shuffle: 0 Feedback: 0 Wrongback: 0 Serf Exported Item Type=14 ID=1167 Title: Chapter 12.2 Columns: 7 ItemID: 1167 Parameter: 1 Text: The following two itesmare disclosed in the stockholders' equity section of Clark Corporation's December 31, 2001, balance sheet:
    Treasury stock (500 shares at cost) .......$15,000
    Additional paid-in capital:treasury stock transactions ..... $5,000
    If the company has reaquired 3,000 shares of treasury stock in February of 2001, then some of the treasury stock must have been sold during 2001 for: Position: 1 Shuffle: 0 Feedback: Wrongback: ItemID: 1167 Parameter: 9 Text: $2 per share above its par value. Position: 2 Shuffle: 0 Feedback: Correct answer is $32 per share. Wrongback: ItemID: 1167 Parameter: 9 Text: $2 per share Position: 3 Shuffle: 0 Feedback: Correct answer is $32 per share Wrongback: ItemID: 1167 Parameter: 8 Text: $32 per share Position: 4 Shuffle: 0 Feedback: Correct!!!!! Wrongback: ItemID: 1167 Parameter: 9 Text: $32 per share above its cost. Position: 5 Shuffle: 0 Feedback: Coorect answer is $32 per share. Wrongback: ItemID: 1167 Parameter: 10 Text: 0 Position: 6 Shuffle: 0 Feedback: 0 Wrongback: 0 Serf Exported Item Type=14 ID=1168 Title: Chapter 12.3 Columns: 7 ItemID: 1168 Parameter: 1 Text: At the beginning of the current year, Kersey Corporation had 400,000 shares of $1 par common stock outstanding and had retained earnings of $7,000,000. During the year, the company earned $5,000,000, declared a 5% stock dividend when the price of stock was $25 per share, and paid a year-end cash dividend of $2 per share. (The cash dividend was paid after the stock dividend had been distributed). Kersey Corporation's retained earnings at the end of the year amounted to: Position: 1 Shuffle: 0 Feedback: Wrongback: ItemID: 1168 Parameter: 9 Text: $12,000,000 Position: 2 Shuffle: 0 Feedback: You forgot to calculate the effects of the dividends. Wrongback: ItemID: 1168 Parameter: 8 Text: $10,660,000 Position: 3 Shuffle: 0 Feedback: Excellent understanding and calculation!!!!!! Wrongback: ItemID: 1168 Parameter: 9 Text: $11,140,000 Position: 4 Shuffle: 0 Feedback: Paid in capital is not part of retained earnings. Wrongback: ItemID: 1168 Parameter: 9 Text: $11,160,000 Position: 5 Shuffle: 0 Feedback: You forgot to deduct the actual value of the stock dividend eventhough you calculated the number of shares. Wrongback: ItemID: 1168 Parameter: 10 Text: 0 Position: 6 Shuffle: 0 Feedback: 0 Wrongback: 0