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ACC 306 WEEK 3 ETHICS CASE 17-6 Ethics Case 17–6 - VXI International - 401(k) plan contributions ● LO1 You are in your third year as internal auditor with VXI International, manufacturer of parts and supplies for jet air- craft. VXI began a defined contribution pension plan three years ago. The plan is a so-called 401(k) plan (named after the Tax Code section that specifies the conditions for the favorable tax treatment of these pl ...

Other / Other 16 Jan 2016

ACC 560 Week 3 Discussion "Time-Driven Activity-Based Costing (ABC)" Please respond to the following: Analyze the major benefits and major weaknesses of traditional ABC in determining accurate overhead costs over a time-driven ABC system. Provide a rationale for your response. Suggest the manner in which a business can achieve a competitive advantage in the marketplace through the use of ABC. Provide two (2) reasons to convince senior manageme ...

Other / Other 16 Jan 2016

ACC 306 WEEK 2 DISCUSSION 1 ETHICS CASE 14-8 HUNT MANUFACTURING Ethics Case 14–8 - Hunt Manufacturing - Debt for equity swaps; have your cake and eat it too ● LO5 The cloudy afternoon mirrored the mood of the conference of division managers. Claude Meyer, assistant to the controller for Hunt Manufacturing, wore one of the gloomy faces that were just emerging from the conference room. “Wow, I knew it was bad, but not that bad, ...

Other / Other 16 Jan 2016

ACC 305 Week 2 DISCUSSION 2 Revenue Recognition Case 5-2 Revenue earned by a business enterprise is recognized for accounting purposes at different times, according to the circumstances. In some situations revenue is recognized approximately as it is earned in the economic sense. In other situations revenue is recognized at point of delivery. Required: 1. Explain and justify why revenue often is recognized as earned at point of delivery. 2. E ...

Other / Other 16 Jan 2016

1. In March 2005, General Electric (GE) has a book value of equity of $113 billion. 10.6 billion shares outstanding, and a market price of $36 per share. GE also had a cash of $13 billion and total debt of $370 billion. 1. What was GE's market capitalization? What was GE's market-to-book ration? 2. What was GE's book debt-equity ratio? What was GE's market debt-equity ration? 3. What was GE's enterprise value? (Points :15) 2. Your f ...

Other / Other 16 Jan 2016

ACC 305 Week 4 Ethics Case 9-11 Danville Bottlers is a wholesale beverage company. Danville uses the FIFO inventory method to determine the cost of its ending inventory. Ending inventory quantities are determined by a physical count. For the fiscal year- end June 30, 2011, ending inventory was originally determined to be $3,265,000. However, on July 17, 2011, John Howard, the company’s controller, discovered an error in the ending invento ...

Other / Other 16 Jan 2016

ACC 306 WEEK 1 DISCUSSION 1 EQUITY METHOD P 12–13 - Miller Properties - Equity method ● LO5 LO6 On January 2, 2011, Miller Properties paid $19 million for 1 million shares of Marlon Company’s 6 million outstanding common shares. Miller’s CEO became a member of Marlon’s board of directors during the first quarter of 2011. The carrying amount of Marlon’s net assets was $66 million. Miller estimated the f ...

Other / Other 16 Jan 2016

You have finally saved $10,000 and are ready to make your first investment. You have three following alternatives for investing that money: A CBS bond with a par value of $1000, an interest rate of 7.625 percent, and a maturity of 10 years. The bond is selling for $986. Alabama Power Company preferred stock with a $50 par value and a dividend of $2.8125 per year. The stock is currently trading at $39 per share. Emerson Electric common stock ...

Other / Other 16 Jan 2016

Question 1 If you expect NoDiv Corporation to sell for $75 per share in three years while paying no dividends along the way, if your required rate of return is 16% per year, how much is the stock worth today? $42.68 $48.05 $51.10 $74.64 Question 2 A compound annuity involves depositing or investing a single sum of money and allowing it to compound for a certain number of years. ...

Other / Other 16 Jan 2016

ACC 305 Week 4 Communication Case 8-4 Communication Case 8-4 on page 442 You have just been hired as a consultant to Tangier Industries, a newly formed company. The company president, John Meeks, is seeking your advice as to the appropriate inventory method Tangier should use to value its inventory and cost of goods sold. Mr. Meeks has narrowed the choice to LIFO and FIFO. He has heard that LIFO might be better for tax purposes, but FIFO has ce ...

Other / Other 16 Jan 2016