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Course: ACC 419, Spring 2008School: Cal Poly Pomona
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a. 8-25 8-26 a. 8-27 a. (3) (1) (4) b. b. b. (3) (1) c. (4) c. c. (4) (4) (2) d. (1) d. (4)
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a. 8-25 8-26 a. 8-27 a.
(3) (1) (4)
b. b. b.
(3) (1)
c. (4) c. c.
(4) (4) (2)
d.
(1)
d.
(4)
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Cal Poly Pomona - ACC - 419
Exam 2 Review Chapter 5, 6, 7, and 8 Chapter 5 Legal Liability The Changed Legal Environment (page 112) Distinguishing Business Failure, Audit Failure, and Audit Risk (page 113) Prudent Person Concept (page 114) Review of Definitions (page 115) It is
Cal Poly Pomona - FRL - 301
1: initial investment = 10.4+5.4+650,000 = 16.45M 2: 30,000(45000) + 12000(85000) = 2,370,000 After new product 21000(12000) = 252,000 5000(45000) = 225,000 -1300(85000) = -110,500 366,500 when new product is offered. increase in sales 3. Sales 650,0
Cal Poly Pomona - FRL - 301
Zohaib Khan 1) Weight for Stock A is (70*40)/(70*40)+(110*22) = 2800/5220 = .54 Weight For Stock B is 1-.54 = .46 2) total value = 1200+1900=3100 stock A = 1200/3100 = .39 stock B = 1900/3100 = .61 Return = .39(.11)+.61(.16) = 14.05% 3) .5(.11)+.3(.1
Cal Poly Pomona - FRL - 301
1: d1=d0(1+g) => 2.45(1.06)=>2.60 r=(d1/p)+g => (2.60/45)+.06 = .1178 2: R equity = R risk free + beta(expected return risk free) = .045+ 1.3(.12-.045) =.1425 3: using first two problem as a guide. d1=d0(1+g) => 1.80(1+.05) =1.89 r=(d1/p)+g => (1.89
Cal Poly Pomona - FRL - 301
1) a) b) c) d)value of the company => 400,000(75)+70,000*70=34,900,000 400,000/70000= 5.71 34,900,000/(400K+70K)=$74.26 75-74.26= .752) a) Max. current stock price 60. Min anything greator than 0 b) 50M/55=909,091 old/new shares = 5.2/909,091=5.7
Cal Poly Pomona - FRL - 301
CHAPTER 13 RISK, RETURN, AND THE SECURITY MARKET LINESolutions to Questions and Problems NOTE: All end of chapter problems were solved using a spreadsheet. Many problems require multiple steps. Due to space and readability constraints, when these in
Cal Poly Pomona - FRL - 301
Rights Offerings Rebel, Inc., is proposing a rights offering. Presently there are 400,000 shares outstanding at $75 each. There will be 70,000 new shares offered at $70 each. a. What is the new market value of the company? b. How many rights are asso
CSU Fullerton - HIST - 110A
History 110A Midterm #3 Study Guide (Chapters 9-12)Know these terms: Buddhist decline in India Burmans and Thai (originally) Southeast Asian Agriculture Chinese Civil Service Exam Genghis Khan Mongols Khanbaliq Empress Wu Buddhism brought to China
CSU Fullerton - HIST - 110A
History 110A Midterm #2 Study GuideKnow these terms:Policies of Augustus Islamic Religion Byzantine Empire Difference between Eastern and Southern Africa Ghana Oldest architecture in Africa Mali Roman legends and tales 1st Punic War 2nd Punic War D
CSU Fullerton - HIST - 110A
California State University, Fullerton History 110A Dr. Lisa Riggin-Walden Final Examination Study Guide You must bring a Scantron and a blue book You will choose two essays from the questions on the following list: 1) What role did the samurai play,
CSU Fullerton - HIST - 110A
For the exam on Thursday you will choose two of four questions. I have listed 5. On the exam I will take away one of these. You will then be able to choose from the other four. 1)the text say that the social structure and ideas of ancient Egypt were
CSU Fullerton - AMERICAN S - 201
Matoaka/RR-john smith some say they are in love self fashioning- reinvented himself. settlement story romance or conquest Disney Early 1600s Fredrick Jackson turners frontier thesis-american character, westward expansion, savage and civilized. Ideal
Syracuse - HST - 112
HST 112 Midterm Study Guide Part 1: Identifications (30%) Adam Smith: Wealth of Nations, published 1776. Smith believed that the laws of supply and demand served as the "invisible hand" to assist the market, and that government intervention was not n
New York Institute of Technology - PHIL - 110
Satire: Misunderstanding SocratesAndy Pho Philo 110 - M01 Dr. Katz 05/06/08Satire: Misunderstanding SocratesPHIL-110-M01Socrates was a Greek philosopher who was known to study and discuss anything and everything that occurred around him. Howe
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MATH 218 SI Session (Spring 2008) SI Leader: Mario Week 14 Worksheet Tuesday (4/15/08)Professor: Zygouras/Dumett www.usc.edu/si1. The number of students entering the bookstore is Poisson distributed with an average rate of 2 students every 3 minu
USC - MATH - 218
MATH 218 SI Session (Spring 2008) SI Leader: Mario Week 11 Worksheet Wednesday (3/26)Professor: Zygouras/Dumett www.usc.edu/si1. Raz and Zar are both running for the position of President of Stuffed Animal Kingdom. To win, a candidate must receiv
USC - MATH - 218
MATH 218 SI Session (Spring 2008) SI Leader: Mario Week 14 Worksheet Monday (4/14/08)Professor: Zygouras/Dumett www.usc.edu/si1. Students from a certain university choose one of three career paths-business, law or medicine. 50% of the students ch
UCSD - BIBC - 102
BIBC 102: Metabolic Biochemistry (Prof. Scheffler) TA: Edward Chen e8chen@ucsd.edu OH: Mondays 4-5pm @ CLICSHandout #1I.Enzymea. Function Enzyme is a catalyst that speeds up rate of reaction by lowering activation energy. b. Classification (LN
NYU - ACC - 203
Microeconomics Spring 2008 Professor Jan De Loecker Monday & Wednesday 9:30-10:45/11-12:15/2-3:15 TA recitation session starting week 1 W 08:00am - 09:15am WS TISC UC61:Wen-Jyh W 08:00am - 09:15am WS TISC UC62: Ihab W 04:55pm - 06:10pm WS TISC
NYU - ACC - 203
Lecture 9Chapter 7: The Cost of ProductionLast lecture Input allocation (L,K) Isoquant map Combinations of L and K producing a givenoutput Q Now we look for optimal combination, so we needto introduce cost of inputs (note: consumer problem
NYU - ACC - 203
Lecture 10Chapter 8 : Profit Maximization and Competitive SupplyRoadmap Perfectly Competitive Markets Profit Maximization Marginal Revenue, Marginal Cost, andProfit Maximization Choosing Output in the Short RunRoadmap Ctd. The Competiti
NYU - ACC - 203
Lecture 12Chapter 9: The Analysis of Competitive Markets1RoadmapNow we have model of supply and demand and measures of CS and PS to evaluate Gains and Losses from Government Policies Minimum price Maximum price Supply restriction Tax, sub
NYU - ACC - 203
Chapter 10Market Power: Monopoly and Monopsony1Last Time Competitive Markets: Flat Demand Curve forfirms Firms set MC(q)=p Markets are efficient when p=MC: maximizeCS+PS Thus, competitive markets are efficient2Roadmap Monopoly: Fir
NYU - ACC - 203
Chapter 10Market Power II: Monopoly and Monopsony and Antitrust1Last Time Monopoly versus Perfect Competition Monopolists are price makers and facedownward sloping demand curves Monopolists choose q such that MC=MR, but MR=P(1+1/Ed) When I
NYU - ACC - 203
Chapter 11Pricing with Market PowerLast Time Monopolists Pricing Rule:MC=MR but MR=P(1+1/Ed) Monopoly is inefficient: creates adeadweight loss Antitrust Laws are used to preventmonopolyRoadmap Capturing Consumer Surplus Price Discrim
NYU - ACC - 203
Principles of Accounting Professor Choi fchoi@stern.nyu.edu KMC 10-75 TTh 11:15 a.m.-12 noon W 11a.m. 12 noon.SuccessPracticeBasicsTA Kedar Talang Office Hrs.Approach to Course? Importance of lifetime learning. My approach Read ass
NYU - ACC - 203
Present Value Model Objectives Time value of money Compound interest PV model of investment choiceRole of Accounting? Provide information that will facilitate the making of financial decisions Provide relevant information in a cost effective
NYU - ACC - 203
Features of the PV Model Future Value vs. Present Value PV and Wealth Sensitivity of PV to r Consistency PV and IncomeFuture Value $ 1 2 Present Value $1 2 33NPV & Wealth (or, I'm not a lazy good-for-nothing!)Wealth = command over goods
NYU - ACC - 203
Cash Flow vs Accrual-Based Measures of PerformanceDonut 2Prematurely Recognizing RevenuesSession Topics Limitations of PV data. Alternative performance metrics Cash flow measures Accrual measurescreditorsloan $repayment of principal &
NYU - ACC - 203
Financial PositionReview Limitations of NPV Cash flow NOILearning objectives Review the content of the income statement Introduce the concept of financial position Examine each component of the accounting equation See how an understanding
NYU - ACC - 203
Disposable WealthLearning Objectives Examine the concept of disposable wealth Learn under what conditions performance can be measured using the income statement or balance sheet Note the distinction be recurring and nonrecurring items Understan
NYU - ACC - 203
Donut 4Overstating Income by Ignoring InflationLearning Objectives Understand why financial statements based on historical costs may be misleading during periods of changing prices Distinguish between general price level changes and specific pr
NYU - ACC - 203
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NYU - ACC - 203
Revenue Recognition Refinements and Accounts ReceivableAsset & Expense Assuming no I,W, G,L income = R-E = OE OE = (A-L) R-E = A - LLearning Objectives Examine some exceptions to the realization principle. Understand how receivables are rep
NYU - ACC - 203
Current Cost ModelReview of Valuation Frameworks to DatePresent Value ModelWealth = Income =Present value of future cash flows Wealth (PV)Advantages: 1. Takes into account time value of money. 2. Decision relevantDisadvantages:1. Subjecti
NYU - ACC - 203
Accounting Policy in a Historical, Institutional and International Context Session Objectives Examine the capital formation process. Understand the function of capital markets and the role of accounting. Appreciate how accounting standards are es
NYU - ACC - 203
Conventional Accounting Revisited Session Objectives Understand the purpose of the accounting cycle Employ surrogates for the accounting equation as a tool of analysis Undertake transactions analysis with new toolsConventional Accounting Revisi
NYU - ACC - 203
Inventories Appreciate why inventory measurement is so important. Examine reporting effects of measurement options. Understand the distinction between FIFO, LIFO and Average Costing methods. Does inventory measurement impact earnings?Performanc
NYU - ACC - 203
Accounting for Investments What is the difference between ST and LTInvestments? How do earnings and assets differ under the cost vs. equity method of accounting for LT investments? When are accounts of affiliates consolidated with that of the pare
NYU - ACC - 203
Accounting Cycle-continued Correcting entries Closing the books Generation of financial statements Post-closing trial balanceCorrecting EntriesEx. Unpaid wages of $2,000 were incorrectly recorded as having been paid. Original entry: Wage expen
NYU - ACC - 203
Accounting for Fixed AssetsSession Objectives Is fixed asset measurement important? Should capital expenditures be treated as an asset or an expense? Are there different ways of depreciating an asset? Do accounting choices impact reported earni
NYU - ACC - 203
Lecture 2 Solutions E9-41 (10 min.) 1. a. b. a. b. FV = $6,000(1.3605) = $8,163 FV = $6,000(1.5735) = $9,441 PV = $6,000(.7350) = $4,410 PV = $6,000(.6355) = $3,8132.3.Halve the rates and double the number of periods. Present values decline: a.
NYU - ACC - 203
Lecture 10-HW Solutions3-34 (30-40 min.) The solutions to Requirements 1 through 3 are in the accompanying presentations. General Journal Entry Accounts and Explanations a. Cash Accounts receivable Collected cash on accounts. Cash Accounts receivab
NYU - ACC - 203
E2-36 (10-15 min.) 1. The name of the statement is antiquated. It should be titled income statement (or statement of earnings, statement of operations, or operating statement). The line with the date should not be for an instant of time but for an in
NYU - ACC - 203
Solutions Lecture V P2-46 (35-40 min.) 1. 2. See Exhibit 2-46 on the following page. DICHEV COMPANY Balance Sheet April 30, 20X2 Liabilities and Stockholders' Equity Liabilities: Note payable $ 24,000 Accounts payable 5,000 Total liabilities 29,000
NYU - ACC - 203
Solutions Lecture VIP1-38 1. 2.(10 min.)Cash would rise by $1,000 and the liability, Deposits, would rise by the same amount. Deposits are liabilities because Citigroup owes these amounts to depositors. They are depositors' claims on the asset
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Current Cost Accounting Exercises5. a. The vendor's net income for the day is: Revenue(200 X $.50) -Historical cost of sales(200 X $.25) Conventional net income$100 50 $ 50b.The maximum amount the vendor could withdraw from her business and s
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Lecture XII-HW Solutions3-37 (25-40 min.) This problem provides practice in journals and ledgers. 1. and 3. To save space, the year 20X8 is not shown in these accounts. All items dated 1/1 are the balances as of January 1, 20X8. Balances as of Janu
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Lecture XIII-HW Solutions6-35 (10 min.) 1. If there is a significant chance that payment on the contract will not be received, the realization test has not been met. Recognition of revenue should be delayed until there is a high probability of rece
NYU - ACC - 203
Lecture XIV HW Solutions 7-56 (20-30 min.) 1. CONTRACTOR SUPPLY CO. Comparison of Inventory Methods Statement of Gross Profit of Kemtone Cooktops For the Year Ended December 31, 20X8 (In Dollars)FIFO Sales, 260 units Deduct cost of goods sold: Inven
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Lecture XV-HW Solutions8-43 (30-45 min.) 1. See Exhibit 8-43 on the following page.Chapter 8Long-Lived Assets and Depreciation371EXHIBIT 8-43 1. FLECK COMPANY Income Statement For the Year Ended December 31, 20X2 (In Thousands of Dollars)B
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Lecture XVI-HW Solutions11-29 (15-20 min.) 1. Cash interest payment: .10 x $1,000,000 x 1/2 Semi-annual interest income, 6/30/X2, .12 x $926,400 x 1/2 Amortization of discount: Analysis of Bond TransactionsA Cash Earnings a. b. Purchase Semi-annua
NYU - ACC - 203
Market Value Exercises - Solutions9. Roller Coaster Coaster Investment Corp. Worksheets-Conventional Accounting Investment Investment Owners' Description Cash in stock in bonds equity Beg. bal., 2002 100,000 100,000 Investment in stocks & bonds (90,
NYU - ACC - 203
Sample ExamPart I. Multiple Choice (3 pts each)_1. We learned in class that investors would like ready-made present value information as a basis for their investment decisions. Which of the following reasons does not explain why accountants are r
NYU - ACC - 203
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