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Print Assignment: Assignment: Week 5 Assignment ::true function doOnload() { window.focus(); } function doOnunload() {} Description / Instructions: Complete the following Week 5 Assignment in WileyPLUS: * Exercise 7-3 * Exercise 12-1 * Exercise 12-8 * Problem 12-9A * Problem 12-10A * Exercise 13-3 * Exercise 13-4 * IFRS 13-1 * Problem 13-2A var tablesArray = new Array(); var changeValueLabelsArray = new Array(); function hideTablesForPreview(){ } Exercise 12-1 var qID = "quest2379246entrance1"; var qIDselected_question = "quest2379246"; // function doOnload() { window.focus(); } function doOnunload() { closeWindows(); } // Get OS. If OS is unknown - work as it is Windows. function getOS() { with (navigator) { if (parseInt(appVersion.substring(0,2)) >= 4) { if (appVersion.indexOf('Win')!=-1) { return 0; } else if (appVersion.indexOf('Mac')!=-1) { return 1; } else { return 0; } } else { return 0; } } } // enable/disable significant digits, choose tolerance level(assignment/item) function setPolicies(in_id) { var forma = document.forms.forma; forma.set_question_policy.value="true"; forma.submit(); } function qhelp(in_url) { var winUrl = in_url; var winName = "winItemHelp" var winParam = getParamsString(600, 400, 0, 0) + ",resizable=yes" + ",copyhistory=no" + ",directories=no" + ",location=no" + ",menubar=no" + ",scrollbars=yes" + ",status=no" + ",toolbar=no"; closeWindow(winName); createWindow(winUrl,winName,winParam); } function showHint(in_item) { var winUrl = "qhint.uni?itemid=" + in_item; var winName = "winItemHint" + in_item; var winParam = getParamsString(650, 400, 0, 0) + ",resizable=yes" + ",copyhistory=no" + ",directories=no" + ",location=no" + ",menubar=no" + ",scrollbars=yes" + ",status=no" + ",toolbar=no"; createWindow(winUrl,winName,winParam); } function showChart(in_item) { var winUrl = "qchart.uni?itemid=" + in_item; var winName = "winItemChart" + in_item; var winParam = getParamsString(650, 400, 0, 0) + ",resizable=yes" + ",copyhistory=no" + ",directories=no" + ",location=no" + ",menubar=no" + ",scrollbars=yes" + ",status=no" + ",toolbar=no"; createWindow(winUrl,winName,winParam); } function showSolution(in_item){ var winUrl = "qsolution.uni?itemid=" + in_item; var winName = "winItemSolution" + in_item; var winParam = getParamsString(650, 400, 0, 0) + ",resizable=yes" + ",copyhistory=no" + ",directories=no" + ",location=no" + ",menubar=no" + ",scrollbars=yes" + ",status=no" + ",toolbar=no"; createWindow(winUrl,winName,winParam); } function showSolutionTutor(in_item) { var winUrl = "qsolution_tutor.uni?itemid=" + in_item; var winName = "winItemSolution" + in_item; var winParam = getParamsString(600, 400, 0, 0) + ",resizable=yes" + ",copyhistory=no" + ",directories=no" + ",location=no" + ",menubar=yes" + ",scrollbars=yes" + ",status=no" + ",toolbar=no"; createWindow(winUrl,winName,winParam); } function showAnswer(in_item) { var winUrl = "qanswer.uni?itemid=" + in_item; var winName = "winItemAnswer" + in_item; var winParam = getParamsString(640, 440, 0, 0) + ",resizable=yes" + ",copyhistory=no" + ",directories=no" + ",location=no" + ",menubar=no" + ",scrollbars=yes" + ",status=no" + ",toolbar=no"; createWindow(winUrl,winName,winParam); } function changeValues() { with(document.forms.forma) { newval.value = "-change-values"; submit(); } } // view item in pop-up window function viewResource(in_resource) { var winUrl = "../../../shared/resource/view_resource.uni?id=" + in_resource; var winName = "REFERENCE"; var winParam = getParamsString(700, 500, 0, 0) + ",resizable=yes" + ",copyhistory=no" + ",directories=no" + ",location=no" + ",menubar=no" + ",scrollbars=yes" + ",status=yes" + ",toolbar=no"; if (isWindow("REFERENCE")) { replaceWindow(winUrl, winName); } else { createWindow(winUrl, winName, winParam); } } //**************************************** // reference window open / reopen //**************************************** function callRefWin(in_url) { var winUrl = in_url; var winName = "REFERENCE"; var winParam = getParamsString(700, 500, 0, 0) + ",resizable=yes" + ",copyhistory=no" + ",directories=no" + ",location=no" + ",menubar=no" + ",scrollbars=yes" + ",status=no" + ",toolbar=no"; if (isWindow("REFERENCE")) { replaceWindow(winUrl, winName); } else { createWindow(winUrl, winName, winParam); } } //************************************************** // xlinkobject (outer human-friendly links ) // also used for links to ilw and cs //************************************************** function xlinkobject(in_linkid) { if (in_linkid.indexOf("rsd") != -1) { var idres = in_linkid; viewResource(idres); } else { var winUrl = "/edugen/player/references/index.uni?mode=help" + "&xlinkobject=" + in_linkid; callRefWin(winUrl); } } //************************************************** // pageURL (links with known URL) //************************************************** function pageURL(in_url){ var s_url = "/edugen/player/references/index.uni?mode=help&pageURL="+ in_url; callRefWin(s_url); } function openPractice(in_linkid) { // do not delete the function } function selfClose() { self.close(); } function sdenableChange(in_checked, in_id) { with(document.forms.forma) { if(in_checked) elements["sdenable_" + in_id].value = "1"; else elements["sdenable_" + in_id].value = "0"; } } function toleranceLevelChange(in_checked, in_id) { with(document.forms.forma) { if(in_checked) elements["tolerance_level_" + in_id].value = "question"; else elements["tolerance_level_" + in_id].value = "assignment"; } } function getPoolItem(in_obj){ var poolid = document.forms.forma.poolid.value; self.location.replace("qpreview.uni?poolid="+poolid+"&question_policy=&id=" + in_obj.options[in_obj.selectedIndex].value); } function open_wimba(in_operation, in_classID, in_userID, in_agID, in_questionID, in_partID, in_attemptNum, in_attemptId, in_frameid) { var el = document.getElementById("div_" + in_frameid); if(el!=null){ el.style.display = "block"; } with(document.getElementById(in_frameid)){ src="/edugen/wileyvt?operation="+in_operation+"&classid="+in_classID+"&userid="+in_userID+"&agid="+in_agID+"&qid="+in_questionID+"&partid="+in_partID+"&anum="+in_attemptNum+"&attempt="+in_attemptId;e width="240px"; height= el==null ? "48px" : "130px"; } } // Question 1 beforeUnloadInterceptForLinks("a:not('.switcher_inside_question_marker_class,o [target]')"); // jQuery(document).ready( function (){ topWindow.isTimeReached = false; topWindow.isUserSwitchesWithinAssignment = false; topWindow.isLogoutPressed = false; topWindow.isUserSwitchesMode = false; topWindow.existsNonClosedQuestion = []; topWindow.removeOnBeforeUnLoad = removeOnBeforeUnLoad; topWindow.questionPlayerWindow = window; topWindow.isMiddleware = '' != ''; topWindow.appWebRoot = '/edugen'; } ); // Putnam Corporation had these transactions during 2014.

Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities, financing activities, or noncash investing and financing activities.

(a)Purchased a machine for $30,000, giving a long-term note in exchange.

(b)Issued $50,000 par value common stock for cash.

(c)Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.

(d)Declared and paid a cash dividend of $13,000.

(e)Sold a long-term investment with a cost of $15,000 for $15,000 cash.

(f)Collected $16,000 of accounts receivable.

(g)Paid $18,000 on accounts payable.

Warning Don't show me this message again for the assignment Ok Cancel Exercise 12-8 var qID = "quest2379255entrance1"; var qIDselected_question = "quest2379255"; // function doOnload() { window.focus(); } function doOnunload() { closeWindows(); } // Get OS. If OS is unknown - work as it is Windows.

SCHMITT COMPANY Comparative Balance Sheets December 31 Assets 2014 2013 Cash $ 68,000 $ 22,000 Accounts receivable 88,000 76,000 Inventory 167,000 189,000 Land 80,000 100,000 Equipment 260,000 200,000 Accumulated depreciation—equipment (66,000 ) (32,000 ) Total $597,000 $555,000 Liabilities and Stockholders’ Equity Accounts payable $ 39,000 $ 43,000 Bonds payable 150,000 200,000 Common stock ($1 par) 216,000 174,000 Retained earnings 192,000 138,000 Total $597,000 $555,000 Additional information:

1.Net income for 2014 was $93,000.

2.Depreciation expense was $34,000.

3.Cash dividends of $39,000 were declared and paid.

4.Bonds payable amounting to $50,000 were redeemed for cash $50,000.

5.Common stock was issued for $42,000 cash.

6.No equipment was sold during 2014.

7.Land was sold for its book value.

Warning Don't show me this message again for the assignment Ok Cancel beforeUnloadInterceptForLinks("a:not('.switcher_inside_question_marker_class,p [target]')"); // jQuery(document).ready( function (){ topWindow.isTimeReached = false; topWindow.isUserSwitchesWithinAssignment = false; topWindow.isLogoutPressed = false; topWindow.isUserSwitchesMode = false; topWindow.existsNonClosedQuestion = []; topWindow.removeOnBeforeUnLoad = removeOnBeforeUnLoad; topWindow.questionPlayerWindow = window; topWindow.isMiddleware = '' != ''; topWindow.appWebRoot = '/edugen'; } ); // Prepare a statement of cash flows for 2014 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000, or in parenthesis e.g. (15,000)).

SCHMITT COMPANY Statement of Cash Flows For the Year Ended December 31, 2014 $ Adjustments to reconcile net income to $ $ Warning Don't show me this message again for the assignment Ok Cancel beforeUnloadInterceptForLinks("a:not('.switcher_inside_question_marker_class,g [target]')"); // jQuery(document).ready( function (){ topWindow.isTimeReached = false; topWindow.isUserSwitchesWithinAssignment = false; topWindow.isLogoutPressed = false; topWindow.isUserSwitchesMode = false; topWindow.existsNonClosedQuestion = []; topWindow.removeOnBeforeUnLoad = removeOnBeforeUnLoad; topWindow.questionPlayerWindow = window; topWindow.isMiddleware = '' != ''; topWindow.appWebRoot = '/edugen'; } ); // Compute these cash-based ratios: (Round ratios to 2 decimal places, e.g. 2.56.) (1) Current cash debt coverage.

Current cash debt coverage times (2) Cash debt coverage.

Cash debt coverage times Warning Don't show me this message again for the assignment Ok Cancel Exercise 13-3 var qID = "quest2379663entrance1"; var qIDselected_question = "quest2379663"; // function doOnload() { window.focus(); } function doOnunload() { closeWindows(); } // Get OS. If OS is unknown - work as it is Windows.

December 31, 2014 December 31, 2013 Current assets$106,000$ 90,000 Plant assets (net)400,000350,000 Current liabilities99,00065,000 Long-term liabilities122,00090,000 Common stock, $1 par130,000115,000 Retained earnings155,000170,000 Prepare a schedule showing a horizontal analysis for 2014, using 2013 as the base year. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) SPANGLES INC.

Condensed Balance Sheet December 31 Increase or (Decrease) 2014 2013 Amount Percentage Assets Current Assets $106,000 $90,000 $ % Plant assets (net) 400,000 350,000 % Total assets $506,000 $440,000 $ % Liabilities Current Liabilities $99,000 $65,000 $ % Long-term liabilities 122,000 90,000 % Total liabilities $221,000 $155,000 $ % Stockholders’ Equity Common stock, $1 par 130,000 115,000 % Retained earnings 155,000 170,000 % Total stockholders’ equity 285,000 285,000 % Total liabilities and stockholders’ equity $506,000 $440,000 $ % Warning Don't show me this message again for the assignment Ok Cancel Exercise 13-4 var qID = "quest2379664entrance1"; var qIDselected_question = "quest2379664"; // function doOnload() { window.focus(); } function doOnunload() { closeWindows(); } // Get OS. If OS is unknown - work as it is Windows.

2014 2013 Sales revenue$800,000$600,000 Cost of goods sold520,000408,000 Selling expenses120,00072,000 Administrative expenses60,00048,000 Income tax expense30,00024,000 Net income70,00048,000 Prepare a schedule showing a vertical analysis for 2014 and 2013. (Round percentages to 1 decimal place, e.g.

12.1%.) JACOBS CORPORATION Condensed Income Statement For the Years Ended December 31 2014 2013 Amount Percent Amount Percent Sales $800,000 % $600,000 % Cost of goods sold 520,000 % 408,000 % Gross profit 280,000 % 192,000 % Selling expenses 120,000 % 72,000 % Administrative expenses 60,000 % 48,000 % Total operating expenses 180,000 % 120,000 % Income before income taxes 100,000 % 72,000 % Income tax expense 30,000 % 24,000 % Net income $ 70,000 % $ 48,000 % Warning Don't show me this message again for the assignment Ok Cancel IFRS 13-1 var qID = "quest2379706entrance1"; var qIDselected_question = "quest2379706"; // function doOnload() { window.focus(); } function doOnunload() { closeWindows(); } // Get OS. If OS is unknown - work as it is Windows.

LING COMPANY Statement of Comprehensive Income For the Year Ended December 31, 2014 $ $ Warning Don't show me this message again for the assignment Ok Cancel Problem 12-9A var qID = "quest2379276entrance1"; var qIDselected_question = "quest2379276"; // function doOnload() { window.focus(); } function doOnunload() { closeWindows(); } // Get OS. If OS is unknown - work as it is Windows.

ODGERS INC.

Comparative Balance Sheets December 31 Assets 2014 2013 Cash $ 80,800 $ 48,400 Accounts receivable 87,800 38,000 Inventory 112,500 102,850 Prepaid expenses 28,400 26,000 Long-term investments 138,000 109,000 Plant assets 285,000 242,500 Accumulated depreciation (50,000 ) (52,000 ) Total $682,500 $514,750 Liabilities and Stockholders’ Equity Accounts payable $ 102,000 $ 67,300 Accrued expenses payable 16,500 21,000 Bonds payable 110,000 146,000 Common stock 220,000 175,000 Retained earnings 234,000 105,450 Total $682,500 $514,750 ODGERS INC.

Income Statement Data For the Year Ended December 31, 2014 Sales revenue $388,460 Less:

Cost of goods sold $135,460 Operating expenses, excluding depreciation 12,410 Depreciation expense 46,500 Income tax expense 27,280 Interest expense 4,730 Loss on disposal of plant assets 7,500 233,880 Net income $ 154,580 Additional information:

1.New plant assets costing $100,000 were purchased for cash during the year.

2.Old plant assets having an original cost of $57,500 and accumulated depreciation of $48,500 were sold for $1,500 cash.

3.Bonds payable matured and were paid off at face value for cash.

4.A cash dividend of $26,030 was declared and paid during the year.

Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g.

(15,000).) ODGERS INC.

Statement of Cash Flows For the Year Ended December 31, 2014 $ Adjustments to reconcile net income to $ $ Warning Don't show me this message again for the assignment Ok Cancel Problem 12-10A var qID = "quest2379277entrance1"; var qIDselected_question = "quest2379277"; // function doOnload() { window.focus(); } function doOnunload() { closeWindows(); } // Get OS. If OS is unknown - work as it is Windows.

ODGERS INC.

Income Statement Data For the Year Ended December 31, 2014 Sales revenue $388,460 Less:

Cost of goods sold $135,460 Operating expenses, excluding depreciation 12,410 Depreciation expense 46,500 Income taxes 27,280 Interest expense 4,730 Loss on disposal of plant assets 7,500 233,880 Net income $ 154,580 Additional information:

1.New plant assets costing $100,000 were purchased for cash during the year.

2.Old plant assets having an original cost of $57,500 and accumulated depreciation of $48,500 were sold for $1,500 cash.

3.Bonds payable matured and were paid off at face value for cash.

4.A cash dividend of $26,030 was declared and paid during the year.

Further analysis reveals that accounts payable pertain to merchandise creditors.

Prepare a statement of cash flows for Odgers Inc. using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g.

(15,000).) ODGERS INC.

Statement of Cash Flows For the Year Ended December 31, 2014 $ :

$ $ Warning Don't show me this message again for the assignment Ok Cancel Problem 13-2A var qID = "quest2379678entrance1"; var qIDselected_question = "quest2379678"; // function doOnload() { window.focus(); } function doOnunload() { closeWindows(); } // Get OS. If OS is unknown - work as it is Windows.

OSBORNE COMPANY Income Statements For the Years Ended December 31 2014 2013 Net sales $1,890,540 $1,750,500 Cost of goods sold 1,058,540 1,006,000 Gross profit 832,000 744,500 Selling and administrative expenses 500,000 479,000 Income from operations 332,000 265,500 Other expenses and losses Interest expense 22,000 20,000 Income before income taxes 310,000 245,500 Income tax expense 92,000 73,000 Net income $ 218,000 $ 172,500 OSBORNE COMPANY Balance Sheets December 31 Assets 2014 2013 Current assets Cash $ 60,100 $ 64,200 Debt investments (short-term) 74,000 50,000 Accounts receivable 117,800 102,800 Inventory 126,000 115,500 Total current assets 377,900 332,500 Plant assets (net) 649,000 520,300 Total assets $1,026,900 $852,800 Liabilities and Stockholders’ Equity Current liabilities Accounts payable $ 160,000 $145,400 Income taxes payable 43,500 42,000 Total current liabilities 203,500 187,400 Bonds payable 220,000 200,000 Total liabilities 423,500 387,400 Stockholders’ equity Common stock ($5 par) 290,000 300,000 Retained earnings 313,400 165,400 Total stockholders’ equity 603,400 465,400 Total liabilities and stockholders’ equity $1,026,900 $852,800 All sales were on account. Net cash provided by operating activities for 2014 was $220,000. Capital expenditures were $136,000, and cash dividends were $70,000.

Compute the following ratios for 2014. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.) (a)Earnings per share $ (b)Return on common stockholders’ equity % (c)Return on assets % (d)Current ratio :1 (e)Accounts receivable turnover times (f)Average collection period days (g)Inventory turnover times (h)Days in inventory days (i)Times interest earned times (j)Asset turnover times (k)Debt to assets % (l)Current cash debt coverage times (m)Cash debt coverage times (n)Free cash flow $ Warning Don't show me this message again for the assignment Ok Cancel Exercise 7-3 var qID = "quest2376794entrance1"; var qIDselected_question = "quest2376794"; // function doOnload() { window.focus(); } function doOnunload() { closeWindows(); } // Get OS. If OS is unknown - work as it is Windows.

(a) For each procedure, explain the weakness in internal control and identify the control principle that is violated.

Procedure Weakness Principle Violated 1.Each store manager is responsible for interviewing applicants for cashier jobs. They are hired if they seem honest and trustworthy.

2.All over-the-counter receipts are registered by three clerks who share a cash register with a single cash drawer.

3.To minimize the risk of robbery, cash in excess of $100 is stored in an unlocked attaché case in the stock room until it is deposited in the bank.

4.At the end of each day the total receipts are counted by the cashier on duty and reconciled to the cash register total.

5.The company accountant makes the bank deposit and then records the day’s receipts.

Warning Don't show me this message again for the assignment Ok Cancel