81. Which of the following is true in regards to a Limited Liability Company? A. LLCs make up about 10% of business organizations in the United States. B. LLCs can be used as alternatives to partnerships. C. LLCs provide tax and liability advantages to the owners. D. All are correct. 82. Stockholders in a corporation have an interest in the company because A. they provide incentives for the company to market […]
158. Given below are comparative balance sheets and an income statement for the Copper Corporation: All sales were made on account. Cash dividends declared during the year totaled $29,300. Compute the following: a. Average accounts receivable turnover times b. Book value per share at the end of the current year $______________ c. Earnings per share of capital stock $______________ d. Return on assets % […]
Objective 8.7 Answer the following questions using the information below: Munoz, Inc., produces a special line of plastic toy racing cars. Munoz, Inc., produces the cars in batches. To manufacture a batch of the cars, Munoz, Inc., must set up the machines and molds. Setup costs are batch-level costs because they are associated with batches rather than individual units of products. A […]
116. SpringfieldCompany offers a bonus plan to its employees and the amount of the employee bonusesfor the current year is estimated to be $32,500 to be paid during January of the following year. The journal entry on December 31 to record the bonuses is: A. Debit Estimated Bonus Payable $32,500; credit Cash $32,500. B. Debit Employee Bonus Expense $32,500; credit Bonus Payable $32,500. C. No entry since […]
61. Large stock dividends and stock splits are issued primarily to: A. Lower the trading price of the stock per share. B. Increase the number of authorized shares. C. Increase legal capital. D. Increase the number of outstanding shares. 62. The Common Stock account on a company’s balance sheet is measured as: A. The number of common shares outstanding x the stock’s par value per share. B. The number of common shares […]
48. The balance in Income Summary: A. Should equal retained earnings. B. Will always be equal to the increase in retained earnings. C. Will equal net income less dividends. D. Will equal net income or net loss. 49. After preparing the financial statements for the current year, the accountant for Exquisite Gems closed the Dividends account at year-end by debiting Income Summary and crediting the Dividends account. […]
128.Happiness Catering has total assets of $385 million. Its total liabilities are $100 million and its equity is $285 million. Calculate its debt ratio. A.35.1%. B.26.0%. C.38.5%. D.28.5%. E.58.8%. 129.All of the following statements accurately describe the debt ratio except. A.It is of use to both internal and external users of accounting information. B.A relatively high ratio is always desirable. C.The dividing line for […]
Multiple Choice Questions 56.The statement of cash flows reports: A.Assets, liabilities, and equity. B.Revenues, gains, expenses, and losses. C.Cash inflows and cash outflows for an accounting period. D.Equity, net income, and dividends. E.Changes in equity. 57.The statement of cash flows reports all but which of the following? A.Cash flows from operating activities. B.Cash flows from financing activities. C.Cash flows from investing activities. D.Significant […]
21) What were the equivalent units for materials for February? A) 193,000 chairs B) 173,000 chairs C) 163,000 chairs D) 153,000 chairs 22) What were the equivalent units for conversion costs for February if the beginning inventory was 70% complete as to conversion costs and the ending inventory was 40% complete as to conversion costs? A) 182,200 B) 152,200 C) 172,200 D) 162,200 […]
107) Divide the class into teams of three or four people. Each team member should work the following problem separately outside of class. Then give the students time in class to compare answers with their teammates and put together a final, correct copy of the problem. Each team should turn in only one copy of the problem for grading. All team members will receive […]
Management of Working Capital Case Study: "George's Trains".
View the following Video:
It appears that George is running a profitable business. George is aware you are in an MBA Managerial Finance class and comes to you for advice on his working capital practices. More specifically George asks you to do the following:
In a three- to five-page paper (excluding the title and reference pages), respond to George’s request for advice in detail. The paper should be properly formatted in alignment with APA 6th edition formatting.
Carefully review the Grading Rubric for the criteria that will be used to evaluate your assignment.
In Ashford courses, there are two different ways to submit assignments for grading. Depending on the system the course utilizes, assignments will either be submitted via the classroom Assignment Basket  or Waypoint  .
The assignments in this course will be submitted to Waypoint. Please refer to the instructions below to submit your assignment.
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