Question : (TCO 4) Which of the following groups is not among the external users for whom financial statements are prepared? Customers Suppliers Employees All of the above are external users of financial statements. (TCO 5) Misty Company reported the following before-tax items during the current year: Misty’s effective tax rate is 40% and there were 1,000 shares of common stock outstanding. What would be Misty’s income before extraordinary item(s)? Question 2.
The beta for Boston Beer Company cannot be calculated as it has not been listed before. The pure play method cannot be used because their competitors have only recently listed and there are no historical betas for them yet. The beta for Boston Beer has hence been arbitrarily calculated by taking Anheuser-Busch’s beta of 1 and incorporating greater risk. 4. The market risk premium was not given in the case study and has been taken as the spread between stock and bond annual returns over the period 1926 – 1997 to be 7.2% 5.
If the Company has to prepare financial statements on March 31st, what would the entry be? A Debit to the Put Option and a a. Credit Unrealized holding gain – Income Statement $805 b. Credit Unrealized holding gain – OCI $805 c. Credit Unrealized holding gain – Income Statement $95 d. Credit Unrealized holding gain – OCI $95 e. None of the above 3. Good Citizen, Inc. incurred their first loss during this fiscal year on both their financial statements and tax returns.
Week 5 Learning Team Assignment Shelly Evans, ACC 400 Resources: Financial Accounting: Tools for Business Decision Making and Managerial Accounting: The Basis for Business Decisions Prepare responses to the following assignment from the e-texts: • Ch. 13: Communication Activity: BYP 13-7 of Financial Accounting: Tools for Business Decision Making o Note: Include a 350- to 700-word memo addressing the problem in BYP 13-7. BYP 13-7: “COMMUNICATION ACTIVITY BYP13-7 R.J. Falk is the chief executive officer of Ventura Electronics. Falk is an expert engineer but a novice in accounting. Falk asks you, as an accounting major, to explain (a) the bases for comparison in analyzing Ventura financial statements and (b) the limitations, if any, in financial statement analysis.
All other accounting literature will be considered non authoritative, which are not covered by the FASC. 3. Goals aimed by the FASB while developing the Coding Standards: * Gathering all authoritative US GAAP in one location, thus render easier access to users * Ensuring codified contents accurately reflect US GAAP as of July 1, 2009 * Engineering an up-to-date codified system, coherent with the released results of standard-setting activity 4. Topics used in ASC: 1. Financial Accounting Standards Board (FASB) a.
http://www.irs.gov/businesses/small/article/0,,id=146330,00.html.” Dividends, interest, annuities, and royalties not accumulated through the ordinary course of trade or business is Portfolio income, not passive income. The sales of stock and bonds are also portfolio income. 7-13) Martially participation is
Yes Who reviews HPLRP CN requests? AMEDD NGB team (not PEC) What law covers HPLRP? Title 10 Ch 1609 Sec 16302 What AR? 135-7 Defaulted loans on date of contract can never be paid Who is responsible for good standing loans? SM How many years must SM serve before loans can be paid?
C) A pension fund manager buys commercial paper in the secondary market. D) An insurance company buys shares of common stock in the over-the-counter markets. E) None of the above. Answer: E Topic: Chapter 2.1 Function of Financial Markets Question Status: Previous Edition 4) Which of the following can be described as involving direct finance? A) A corporation's stock is traded in an over-the-counter market.
can be accomplished without the involvement of the target firm’s board of directors. III. can be accomplished without having the shareholders vote on the acquisition. IV. may be dependent upon the maximum amount of shares made available for sale to the acquiring firm.
With 1% ownership or more could add items to the agenda at shareholders’ meetings. 2. With 3% of the stock could call a special shareholders meeting (at their own expense) and could apply to a court to remove a director. 3. With 10% holding for more than six months could allow a shareholder to inspect a company’s accounting records and to apply to a court to appoint a special auditor for this purpose.