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11 Pages

Whirlpool case

Course: FINANCE 437, Spring 2012
School: Western Kentucky...
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Word Count: 1270

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3 Wave West South Central North Source: 1997 Exhibit Data for Whirlpool Europe DSI 45 51 67 55 Product Availability 73.5% 83.1% 76.8% 83.2% Company documents. Units Sold 2,271,139 1,415,949 977,665 1,443,156 Revenue Margin (000s US$) (000s US$) 477,784 58,859 283,549 46,241 185,625 43,678 280,901 29,818 Exhibit 4 Product Availability in 1997 and Projected Improvements by Wave 2000 West South Central North...

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3 Wave West South Central North Source: 1997 Exhibit Data for Whirlpool Europe DSI 45 51 67 55 Product Availability 73.5% 83.1% 76.8% 83.2% Company documents. Units Sold 2,271,139 1,415,949 977,665 1,443,156 Revenue Margin (000s US$) (000s US$) 477,784 58,859 283,549 46,241 185,625 43,678 280,901 29,818 Exhibit 4 Product Availability in 1997 and Projected Improvements by Wave 2000 West South Central North Source: Improvements by Year by Wave 2001 2002 2003 25% 40% 35% 35% 40% 25% 40% 40% 40% Company documents. 2004 20% 40% 2005 20% Exhibit 5 Margin Improvements by Year by Wave Margin Improvements by Year by Wave West South Central North Source: 2000 0.06% 2001 0.25% 0.10% Company Documents 2002 0.25% 0.25% 0.13% 2003 0.25% 0.25% 0.25% 0.13% 2004 0.25% 0.25% 0.25% 0.25% 2005 0.25% 0.25% 0.25% 0.25% Exhibit 6 Forecasted Other Expense Savings by Year (000s US$) 2000 2001 2002 2003 2004 2005 2006 2007 0 190 411 442 474 506 537 569 Finance Headcount 81 135 216 324 405 405 405 405 Warehouse Space 18 72 155 230 274 288 288 288 Bad Debt Expense 102 512 922 1,024 1,024 1,024 1,024 1,024 Information Systems 420 840 840 1,280 1,280 1,280 1,280 1,280 621 1,749 2,544 3,300 3,457 3,503 3,534 3,566 Order Desk Headcount Source: Company Documents. Simplified Income Statement for the West Wave Panel A: Forecasts without the ERP system 2000 2001 Units 2,271,139.00 2,271,139 Revenues 477,784,000.00 477,784,000.00 COGS 418,925,000.00 418,925,000.00 Margin 58,859,000.00 58,859,000.00 Price per unit 210.37 210.37 COGS per unit 184.46 184.46 Margin per unit 25.92 25.92 Percentage Margin 12.32% 12.32% DSI 45 45 Inventory 51,648,287.67 51,648,287.67 Impact of the ERP system Additional Units Additional Margin DSI reduction 2002 2,271,139 477,784,000.00 418,925,000.00 58,859,000.00 210.37 184.46 25.92 12.32% 45 51,648,287.67 2003 2,271,139 477,784,000.00 418,925,000.00 58,859,000.00 210.37 184.46 25.92 12.32% 45 51,648,287.67 2004 2,271,139 477,784,000.00 418,925,000.00 58,859,000.00 210.37 184.46 25.92 12.32% 45 51,648,287.67 2005 2,271,139 477,784,000.00 418,925,000.00 58,859,000.00 210.37 184.46 25.92 12.32% 45 51,648,287.67 35,727.95 92892.67508503 142911.8078231 142911.8078231 142911.8078231 142911.8078231 0.06% 0.25% 0.25% 0.25% 0.25% 0.25% 3 7.8 12 12 12 12 Panel B: Forecasts with the ERP system 2000 Units 2,306,866.95 Revenues 485,632,478.19 COGS 425,515,231.72 Margin 60,117,246.48 Price per unit 210.52 COGS per unit 184.46 Margin per unit 26.06 Percentage Margin 12.38% DSI 42 Inventory 48,963,396.53 2001 2,364,031.68 498,748,071.20 436,059,602.47 62,688,468.73 210.97 184.46 26.52 12.57% 37.2 44,442,238.94 2002 2,414,050.81 509,300,783.43 445,285,926.87 64,014,856.56 210.97 184.46 26.52 12.57% 33 40,258,727.63 2003 2,414,050.81 509,300,783.43 445,285,926.87 64,014,856.56 210.97 184.46 26.52 12.57% 33 40,258,727.63 2004 2,414,050.81 509,300,783.43 445,285,926.87 64,014,856.56 210.97 184.46 26.52 12.57% 33 40,258,727.63 2005 2,414,050.81 509,300,783.43 445,285,926.87 64,014,856.56 210.97 184.46 26.52 12.57% 33 40,258,727.63 Calculation of additional units Pre-ERP units 2,271,139 Pre-ERP availability 73.50% Target availability 0.92 Increase in availability 25.17% Additional Sales 25% Percentage improvement 25% Additional units in year 35,727.95 Additional units 35,727.95 2,271,139 73.50% 0.92 25.17% 25% 40% 57,164.72 92,892.68 2,271,139 73.50% 0.92 25.17% 25% 35% 50,019.13 142,911.81 2,271,139 73.50% 0.92 25.17% 25% 0% 142,911.81 2,271,139 73.50% 0.92 25.17% 25% 0% 142,911.81 2,271,139 73.50% 0.92 25.17% 25% 0% 142,911.81 12 40% 4.8 7.8 12 35% 4.2 12 12 0% 0 12 12 0% 0 12 12 0% 0 12 Calculation of Inventory savings Target DSI reduction Percentage improvement DSI reduction in year DSI reduction 12 25% 3 3 Simplified Income Statement for the South Wave Panel A: Forecasts without the ERP system 2000 2001 Units 1,415,949 1,415,949 Revenues 283,549,000.00 283,549,000.00 COGS 237,308,000.00 237,308,000.00 Margin 46,241,000.00 46,241,000.00 Price per unit 200.25 200.25 COGS per unit 167.60 167.60 Margin per unit 32.66 32.66 Percentage Margin 16.31% 16.31% DSI 51 51 Inventory 33,158,104.11 33,158,104.11 Impact of the ERP system Additional Units Additional Margin DSI reduction 2002 1,415,949 283,549,000.00 237,308,000.00 46,241,000.00 200.25 167.60 32.66 16.31% 51 33,158,104.11 2003 1,415,949 283,549,000.00 237,308,000.00 46,241,000.00 200.25 167.60 32.66 16.31% 51 33,158,104.11 2004 1,415,949 283,549,000.00 237,308,000.00 46,241,000.00 200.25 167.60 32.66 16.31% 51 33,158,104.11 2005 1,415,949 283,549,000.00 237,308,000.00 46,241,000.00 200.25 167.60 32.66 16.31% 51 33,158,104.11 0 0.00% 0 13269.20 0.10% 4.2 28433.99 0.25% 9 37911.99 0.25% 12 37911.99 0.25% 12 37911.99 0.25% 12 Panel B: Forecasts with the ERP system 2000 Units 1,415,949.00 Revenues 283,549,000.00 COGS 237,308,000.00 Margin 46,241,000.00 Price per unit 200.25 COGS per unit 167.60 Margin per unit 32.66 Percentage Margin 16.31% DSI 51 Inventory 33,158,104.11 2001 1,429,218.20 286,548,590.02 239,531,870.10 47,016,719.92 200.49 167.60 32.90 16.41% 46.8 30,712,579.51 2002 1,444,382.99 290,109,610.32 242,073,435.92 48,036,174.40 200.85 167.60 33.26 16.56% 42 27,855,025.50 2003 1,453,860.99 292,013,300.90 243,661,914.56 48,351,386.34 200.85 167.60 33.26 16.56% 39 26,035,108.68 2004 1,453,860.99 292,013,300.90 243,661,914.56 48,351,386.34 200.85 167.60 33.26 16.56% 39 26,035,108.68 2005 1,453,860.99 292,013,300.90 243,661,914.56 48,351,386.34 200.85 167.60 33.26 16.56% 39 26,035,108.68 Calculation of additional units Pre-ERP units 1,415,949 Pre-ERP availability 83.10% Target availability 0.92 Increase in availability 10.71% Additional Sales 25% Percentage improvement 0% Additional units in year Additional units - 1,415,949 83.10% 0.92 10.71% 25% 35% 13,269.20 13,269.20 1,415,949 83.10% 0.92 10.71% 25% 40% 15,164.80 28,433.99 1,415,949 83.10% 0.92 10.71% 25% 25% 9,478.00 37,911.99 1,415,949 83.10% 0.92 10.71% 25% 0% 37,911.99 1,415,949 83.10% 0.92 10.71% 25% 0% 37,911.99 12 35% 4.2 4.2 12 40% 4.8 9 12 25% 3 12 12 0% 0 12 12 0% 0 12 Calculation of Inventory savings Target DSI reduction Percentage improvement DSI reduction in year DSI reduction 12 0% 0 0 Simplified Income Statement for the Central Wave Panel A: Forecasts without the ERP system 2000 Units 977,665.00 Revenues 185,625,000.00 COGS 141,947,000.00 Margin 43,678,000.00 Price per unit 189.87 COGS per unit 145.19 Margin per unit 44.68 Percentage Margin 23.53% DSI 67 Inventory 26,056,024.66 Impact of the ERP system Additional Units Additional Margin DSI reduction 0 0.00% 0 Panel B: Forecasts with the ERP system 2000 Units 977,665.00 Revenues 185,625,000.00 COGS 141,947,000.00 Margin 43,678,000.00 Price per unit 189.87 COGS per unit 145.19 Margin per unit 44.68 Percentage Margin 23.53% DSI 67 Inventory 26,056,024.66 Calculation of additional units Pre-ERP units Pre-ERP availability Target availability Increase in availability Additional Sales Percentage improvement Additional units in year Additional units Calculation of Inventory savings Target DSI reduction Percentage improvement DSI reduction in year DSI reduction 2001 977,665.00 185,625,000.00 141,947,000.00 43,678,000.00 189.87 145.19 44.68 23.53% 67 26,056,024.66 2002 977,665.00 185,625,000.00 141,947,000.00 43,678,000.00 189.87 145.19 44.68 23.53% 67 26,056,024.66 2003 977,665.00 185,625,000.00 141,947,000.00 43,678,000.00 189.87 145.19 44.68 23.53% 67 26,056,024.66 2004 977,665.00 185,625,000.00 141,947,000.00 43,678,000.00 189.87 145.19 44.68 23.53% 67 26,056,024.66 2005 977,665.00 185,625,000.00 141,947,000.00 43,678,000.00 189.87 145.19 44.68 23.53% 67 26,056,024.66 0 19349.61979167 38699.23958333 48374.04947917 48374.04947917 0.00% 0.13% 0.25% 0.25% 0.25% 0 4.8 9.6 12 12 2001 977,665.00 185,625,000.00 141,947,000.00 43,678,000.00 189.87 145.19 44.68 23.53% 67 26,056,024.66 2002 997,014.62 189,621,187.62 144,756,367.71 44,864,819.91 190.19 145.19 45.00 23.66% 62.2 24,668,071.43 2003 1,016,364.24 193,605,604.47 147,565,735.42 46,039,869.05 190.49 145.19 45.30 23.78% 57.4 23,206,227.98 2004 1,026,039.05 195,448,543.59 148,970,419.27 46,478,124.32 190.49 145.19 45.30 23.78% 55 22,447,597.42 2005 1,026,039.05 195,448,543.59 148,970,419.27 46,478,124.32 190.49 145.19 45.30 23.78% 55 22,447,597.42 977,665 76.80% 0.92 19.79% 25% 0% - 977,665 76.80% 0.92 19.79% 25% 0% - 977,665 76.80% 0.92 19.79% 25% 40% 19,349.62 19,349.62 977,665 76.80% 0.92 19.79% 25% 40% 19,349.62 38,699.24 977,665 76.80% 0.92 19.79% 25% 20% 9,674.81 48,374.05 977,665 76.80% 0.92 19.79% 25% 0% 48,374.05 12 0% 0 0 12 0% 0 0 12 40% 4.8 4.8 12 40% 4.8 9.6 12 20% 2.4 12 12 0% 0 12 Simplified Income Statement for the North Wave Panel A: Forecasts without the ERP system 2000 2001 Units 1,443,156.00 1,443,156.00 Revenues 280,901,000.00 280,901,000.00 COGS 251,083,000.00 251,083,000.00 Margin 29,818,000.00 29,818,000.00 Price per unit 194.64 194.64 COGS per unit 173.98 173.98 Margin per unit 20.66 20.66 Percentage Margin 10.62% 10.62% DSI 55 55 Inventory 37,834,424.66 37,834,424.66 Impact of the ERP system Additional Units Additional Margin DSI reduction 2002 1,443,156.00 280,901,000.00 251,083,000.00 29,818,000.00 194.64 173.98 20.66 10.62% 55 37,834,424.66 2003 1,443,156.00 280,901,000.00 251,083,000.00 29,818,000.00 194.64 173.98 20.66 10.62% 55 37,834,424.66 2004 1,443,156.00 280,901,000.00 251,083,000.00 29,818,000.00 194.64 173.98 20.66 10.62% 55 37,834,424.66 2005 1,443,156.00 280,901,000.00 251,083,000.00 29,818,000.00 194.64 173.98 20.66 10.62% 55 37,834,424.66 0 0.00% 0 0 0.00% 0 0 0.00% 0 15264.15 0.13% 4.8 30528.3 0.25% 9.6 38160.375 0.25% 12 Panel B: Forecasts with the ERP system 2000 Units 1,443,156.00 Revenues 280,901,000.00 COGS 251,083,000.00 Margin 29,818,000.00 Price per unit 194.64 COGS per unit 173.98 Margin per unit 20.66 Percentage Margin 10.62% DSI 55 Inventory 37,834,424.66 2001 1,443,156.00 280,901,000.00 251,083,000.00 29,818,000.00 194.64 173.98 20.66 10.62% 55 37,834,424.66 2002 1,443,156.00 280,901,000.00 251,083,000.00 29,818,000.00 194.64 173.98 20.66 10.62% 55 37,834,424.66 2003 1,458,420.15 284,285,528.82 253,738,685.58 30,546,843.25 194.93 173.98 20.95 10.75% 50.2 34,897,758.95 2004 1,473,684.30 287,647,656.50 256,394,371.15 31,253,285.35 195.19 173.98 21.21 10.87% 45.4 31,891,245.07 2005 1,481,316.38 289,137,357.17 257,722,213.94 31,415,143.23 195.19 173.98 21.21 10.87% 43 30,361,795.07 1,443,156 83.20% 0.92 10.58% 25% 0% - 1,443,156 83.20% 0.92 10.58% 25% 0% - 1,443,156 83.20% 0.92 10.58% 25% 0% - 1,443,156 83.20% 0.92 10.58% 25% 40% 15,264.15 15,264.15 1,443,156 83.20% 0.92 10.58% 25% 40% 15,264.15 30,528.30 1,443,156 83.20% 0.92 10.58% 25% 20% 7,632.08 38,160.38 12 0% 0 0 12 0% 0 0 12 0% 0 0 12 40% 4.8 4.8 12 40% 4.8 9.6 12 20% 2.4 12 Calculation of additional units Pre-ERP units Pre-ERP availability Target availability Increase in availability Additional Sales Percentage improvement Additional units in year Additional units Calculation of Inventory savings Target DSI reduction Percentage improvement DSI reduction in year DSI reduction Simplified Income Statement for the West Wave Panel A: Forecasts without the ERP system 2000 2001 2002 2003 Units 2,271,139 2,271,139 2,271,139 2,271,139 Revenues 477,784,000 477,784,000 477,784,000 477,784,000 COGS 418,925,000 418,925,000 418,925,000 418,925,000 Margin 58,859,000 58,859,000 58,859,000 58,859,000 Inventory 51,648,288 51,648,288 51,648,288 51,648,288 2004 2,271,139 477,784,000 418,925,000 58,859,000 51,648,288 2005 2,271,139 477,784,000 418,925,000 58,859,000 51,648,288 Panel B: Forecasts with the ERP system 2000 Units 2,306,867 Revenues 485,632,478 COGS 425,515,232 Margin 60,117,246 Inventory 48,963,397 2003 2,414,051 509,300,783 445,285,927 64,014,857 40,258,728 2004 2,414,051 509,300,783 445,285,927 64,014,857 40,258,728 2005 2,414,051 509,300,783 445,285,927 64,014,857 40,258,728 Simplified Income Statement for the South Wave Panel A: Forecasts without the ERP system 2000 2001 2002 2003 Units 1,415,949 1,415,949 1,415,949 1,415,949 Revenues 283,549,000 283,549,000 283,549,000 283,549,000 COGS 237,308,000 237,308,000 237,308,000 237,308,000 Margin 46,241,000 46,241,000 46,241,000 46,241,000 Inventory 33,158,104 33,158,104 33,158,104 33,158,104 2004 1,415,949 283,549,000 237,308,000 46,241,000 33,158,104 2005 1,415,949 283,549,000 237,308,000 46,241,000 33,158,104 Panel B: Forecasts with the ERP system 2000 Units 1,415,949 Revenues 283,549,000 COGS 237,308,000 Margin 46,241,000 Inventory 33,158,104 2003 1,453,861 292,013,301 243,661,915 48,351,386 26,035,109 2004 1,453,861 292,013,301 243,661,915 48,351,386 26,035,109 2005 1,453,861 292,013,301 243,661,915 48,351,386 26,035,109 Simplified Income Statement for the Central Wave Panel A: Forecasts without the ERP system 2000 2001 2002 2003 Units 977,665 977,665 977,665 977,665 Revenues 185,625,000 185,625,000 185,625,000 185,625,000 COGS 141,947,000 141,947,000 141,947,000 141,947,000 Margin 43,678,000 43,678,000 43,678,000 43,678,000 Inventory 26,056,025 26,056,025 26,056,025 26,056,025 2004 977,665 185,625,000 141,947,000 43,678,000 26,056,025 2005 977,665 185,625,000 141,947,000 43,678,000 26,056,025 Panel B: Forecasts with the ERP system 2000 Units 977,665 Revenues 185,625,000 COGS 141,947,000 Margin 43,678,000 Inventory 26,056,025 2003 1,016,364 193,605,604 147,565,735 46,039,869 23,206,228 2004 1,026,039 195,448,544 148,970,419 46,478,124 22,447,597 2005 1,026,039 195,448,544 148,970,419 46,478,124 22,447,597 Simplified Income Statement for the North Wave Panel A: Forecasts without the ERP system 2000 2001 2002 2003 Units 1,443,156 1,443,156 1,443,156 1,443,156 Revenues 280,901,000 280,901,000 280,901,000 280,901,000 COGS 251,083,000 251,083,000 251,083,000 251,083,000 Margin 29,818,000 29,818,000 29,818,000 29,818,000 Inventory 37,834,425 37,834,425 37,834,425 37,834,425 2004 1,443,156 280,901,000 251,083,000 29,818,000 37,834,425 2005 1,443,156 280,901,000 251,083,000 29,818,000 37,834,425 Panel B: Forecasts with the ERP system 2000 Units 1,443,156 Revenues 280,901,000 COGS 251,083,000 Margin 29,818,000 Inventory 37,834,425 2003 1,458,420 284,285,529 253,738,686 30,546,843 34,897,759 2004 1,473,684 287,647,657 256,394,371 31,253,285 31,891,245 2005 1,481,316 289,137,357 257,722,214 31,415,143 30,361,795 Simplified Income Statement for All Waves Panel A: Forecasts without the ERP system 2000 2001 2002 2003 Units 6,107,909 6,107,909 6,107,909 6,107,909 Revenues 1,227,859,000 1,227,859,000 1,227,859,000 1,227,859,000 COGS 1,049,263,000 1,049,263,000 1,049,263,000 1,049,263,000 Margin 178,596,000 178,596,000 178,596,000 178,596,000 Inventory 148,696,841 148,696,841 148,696,841 148,696,841 2004 6,107,909 1,227,859,000 1,049,263,000 178,596,000 148,696,841 2005 6,107,909 1,227,859,000 1,049,263,000 178,596,000 148,696,841 Panel B: Forecasts with the ERP system 2000 2001 Units 6,143,637 6,214,071 Revenues 1,235,707,478 1,251,822,661 COGS 1,055,853,232 1,068,621,473 Margin 179,854,246 183,201,189 Inventory 146,011,950 139,045,268 2001 2,364,032 498,748,071 436,059,602 62,688,469 44,442,239 2001 1,429,218 286,548,590 239,531,870 47,016,720 30,712,580 2001 977,665 185,625,000 141,947,000 43,678,000 26,056,025 2001 1,443,156 280,901,000 251,083,000 29,818,000 37,834,425 2002 2,414,051 509,300,783 445,285,927 64,014,857 40,258,728 2002 1,444,383 290,109,610 242,073,436 48,036,174 27,855,026 2002 997,015 189,621,188 144,756,368 44,864,820 24,668,071 2002 1,443,156 280,901,000 251,083,000 29,818,000 37,834,425 2002 6,298,604 1,269,932,581 1,083,198,730 186,733,851 130,616,249 2003 6,342,696 1,279,205,218 1,090,252,262 188,952,955 124,397,823 2004 6,367,635 1,284,410,284 1,094,312,632 190,097,653 120,632,679 2005 6,375,267 1,285,899,985 1,095,640,475 190,259,510 119,103,229 Panel C: Incremental Pre-Tax Cash Flows from the ERP system 2000 2001 2002 Units 35,728 106,162 190,695 Revenues 7,848,478 23,963,661 42,073,581 COGS 6,590,232 19,358,473 33,935,730 Margin 1,258,246 4,605,189 8,137,851 Inventory (2,684,891) (9,651,573) (18,080,592) NWC (2,684,891) (6,966,682) (8,429,019) 2003 234,787 51,346,218 40,989,262 10,356,955 (24,299,018) (6,218,426) 2004 259,726 56,551,284 45,049,632 11,501,653 (28,064,162) (3,765,144) 2005 267,358 58,040,985 46,377,475 11,663,510 (29,593,612) (1,529,450) Capital Expenditures and Depreciation 2001 2002 2003 6,900,000 4,100,000 6,900,000 4,100,000 - 2004 - 2005 - 2006 - 2007 - 980,000 1,780,000 1,380,000 820,000 4,960,000 980,000 1,780,000 1,380,000 820,000 4,960,000 1,780,000 1,380,000 820,000 3,980,000 1,380,000 820,000 2,200,000 820,000 820,000 Capital Equipment Software licenses Capital Expenditures 1999 4,300,000 600,000 4,900,000 Depreciation by asset: 1999 Assets 2000 Assets 2001 Assets 2002 Assets Total Depr. Per Year 2000 8,600,000 300,000 8,900,000 980,000 980,000 1,780,000 980,000 1,780,000 1,380,000 980,000 2,760,000 4,140,000 1999 2,250,000 3,511,200 600,000 6,361,200 6,361,200 2000 2,250,000 1,663,200 1,200,000 100,000 300,000 5,513,200 621,000 4,892,200 Incremental Operating Expenses 2001 2002 2003 2,250,000 2,250,000 1,293,600 739,200 1,800,000 2,400,000 3,000,000 200,000 300,000 400,000 600,000 600,000 600,000 6,143,600 6,289,200 4,000,000 1,749,000 2,544,000 3,300,000 4,394,600 3,745,200 700,000 2004 3,000,000 400,000 300,000 3,700,000 3,457,000 243,000 2005 3,000,000 400,000 3,400,000 3,503,000 (103,000) 2006 3,000,000 400,000 3,400,000 3,534,000 (134,000) 2007 3,000,000 400,000 3,400,000 3,566,000 (166,000) Revenue COGS Operating (40%) EBIAT Plus Expenses Depreciation EBIT Taxes Depreciation Minus CAPX Minus NWC 1999 6,361,200 (6,361,200) (2,544,480) (3,816,720) 4,900,000 - 2000 7,848,478 6,590,232 4,892,200 980,000 (4,613,954) (1,845,581) (2,768,372) 980,000 8,900,000 (2,684,891) Incremental Cash Flows and Valuation 2001 2002 2003 23,963,661 42,073,581 51,346,218 19,358,473 33,935,730 40,989,262 4,394,600 3,745,200 700,000 2,760,000 4,140,000 4,960,000 (2,549,411) 252,651 4,696,955 (1,019,765) 101,060 1,878,782 (1,529,647) 151,591 2,818,173 2,760,000 4,140,000 4,960,000 6,900,000 4,100,000 (6,966,682) (8,429,019) (6,218,426) 2004 56,551,284 45,049,632 243,000 4,960,000 6,298,653 2,519,461 3,779,192 4,960,000 (3,765,144) 2005 58,040,985 46,377,475 (103,000) 3,980,000 7,786,510 3,114,604 4,671,906 3,980,000 (1,529,450) 2006 58,040,985 46,377,475 (134,000) 2,200,000 9,597,510 3,839,004 5,758,506 2,200,000 - 2007 58,040,985 46,377,475 (166,000) 820,000 11,009,510 4,403,804 6,605,706 820,000 - After-Tax Cash Flow (8,716,720) (8,003,481) 1,297,035 8,620,609 13,996,599 12,504,336 10,181,356 7,958,506 7,425,706 PV of Cash Flow (8,716,720) (7,342,643) 1,091,689 6,656,692 9,915,544 8,126,960 6,070,810 4,353,575 3,726,712 NPV 23,882,619 Whirlpool Employees Consultants On Going Operational License maintance Task force Implemtation Costs Other Exp. Savings Incre. Operating Exp. Simplified Income Statement for the West Wave Panel A: Forecasts without the ERP system 2000 2001 2002 2003 Units 2,271,139 2,271,139 2,271,139 2,271,139 Revenues 477,784,000 477,784,000 477,784,000 477,784,000 COGS 418,925,000 418,925,000 418,925,000 418,925,000 Margin 58,859,000 58,859,000 58,859,000 58,859,000 Inventory 51,648,288 51,648,288 51,648,288 51,648,288 2004 2,271,139 477,784,000 418,925,000 58,859,000 51,648,288 2005 2,271,139 477,784,000 418,925,000 58,859,000 51,648,288 Panel B: Forecasts with the ERP system 2000 Units 2,299,721 Revenues 484,128,217 COGS 424,197,185 Margin 59,931,031 Inventory 48,811,731 2003 2,385,468 503,270,662 440,013,741 63,256,921 39,782,064 2004 2,385,468 503,270,662 440,013,741 63,256,921 39,782,064 2005 2,385,468 503,270,662 440,013,741 63,256,921 39,782,064 Simplified Income Statement for the South Wave Panel A: Forecasts without the ERP system 2000 2001 2002 2003 Units 1,415,949 1,415,949 1,415,949 1,415,949 Revenues 283,549,000 283,549,000 283,549,000 283,549,000 COGS 237,308,000 237,308,000 237,308,000 237,308,000 Margin 46,241,000 46,241,000 46,241,000 46,241,000 Inventory 33,158,104 33,158,104 33,158,104 33,158,104 2004 1,415,949 283,549,000 237,308,000 46,241,000 33,158,104 2005 1,415,949 283,549,000 237,308,000 46,241,000 33,158,104 2003 1,446,278.59 290,490,348.44 242,391,131.65 48,099,216.79 25,899,326 2004 1,446,278.59 290,490,348.44 242,391,131.65 48,099,216.79 25,899,326 2005 1,446,278.59 290,490,348.44 242,391,131.65 48,099,216.79 25,899,326 Simplified Income Statement for the Central Wave Panel A: Forecasts without the ERP system 2000 2001 2002 2003 Units 977,665 977,665 977,665 977,665 Revenues 185,625,000 185,625,000 185,625,000 185,625,000 COGS 141,947,000 141,947,000 141,947,000 141,947,000 Margin 43,678,000 43,678,000 43,678,000 43,678,000 Inventory 26,056,025 26,056,025 26,056,025 26,056,025 2004 977,665 185,625,000 141,947,000 43,678,000 26,056,025 2005 977,665 185,625,000 141,947,000 43,678,000 26,056,025 Panel B: Forecasts with the ERP system 2000 Units 977,665 Revenues 185,625,000 COGS 141,947,000 Margin 43,678,000 Inventory 26,056,025 2003 1,008,624 192,131,253 146,441,988 45,689,265 23,029,507 2004 1,016,364 193,605,604 147,565,735 46,039,869 22,235,933 2005 1,016,364 193,605,604 147,565,735 46,039,869 22,235,933 Simplified Income Statement for the North Wave Panel A: Forecasts without the ERP system 2000 2001 2002 2003 Units 1,443,156 1,443,156 1,443,156 1,443,156 Revenues 280,901,000 280,901,000 280,901,000 280,901,000 COGS 251,083,000 251,083,000 251,083,000 251,083,000 Margin 29,818,000 29,818,000 29,818,000 29,818,000 Inventory 37,834,425 37,834,425 37,834,425 37,834,425 2004 1,443,156 280,901,000 251,083,000 29,818,000 37,834,425 2005 1,443,156 280,901,000 251,083,000 29,818,000 37,834,425 Panel B: Forecasts with the ERP system 2000 Units 1,443,156 Revenues 280,901,000 COGS 251,083,000 Margin 29,818,000 Inventory 37,834,425 2003 1,455,367 283,690,450 253,207,548 30,482,901 34,824,709 2004 1,467,579 286,455,896 255,332,097 31,123,799 31,759,116 2005 1,473,684 287,647,657 256,394,371 31,253,285 30,205,364 Simplified Income Statement for All Waves Panel A: Forecasts without the ERP system 2000 2001 2002 2003 Units 6,107,909 6,107,909 6,107,909 6,107,909 Revenues 1,227,859,000 1,227,859,000 1,227,859,000 1,227,859,000 COGS 1,049,263,000 1,049,263,000 1,049,263,000 1,049,263,000 Margin 178,596,000 178,596,000 178,596,000 178,596,000 Inventory 148,696,841 148,696,841 148,696,841 148,696,841 2004 6,107,909 1,227,859,000 1,049,263,000 178,596,000 148,696,841 2005 6,107,909 1,227,859,000 1,049,263,000 178,596,000 148,696,841 Panel B: Forecasts with the ERP system 2000 Units 6,136,491 Revenues 1,234,203,217 COGS 1,054,535,185 Margin 179,668,031 Inventory 145,860,284 Panel B: Forecasts with the ERP system 2000 Units 1,415,949.00 Revenues 283,549,000.00 COGS 237,308,000.00 Margin 46,241,000.00 Inventory 33,158,104 2001 2,345,453 494,828,492 432,632,682 62,195,810 44,092,975 2001 1,426,564.36 286,016,513.15 239,087,096.08 46,929,417.07 30,655,551 2001 977,665 185,625,000 141,947,000 43,678,000 26,056,025 2001 1,443,156 280,901,000 251,083,000 29,818,000 37,834,425 2002 1,438,696.20 288,967,395.98 241,120,348.74 47,847,047.24 27,745,355 2002 993,145 188,885,171 144,194,494 44,690,677 24,572,322 2002 1,443,156 280,901,000 251,083,000 29,818,000 37,834,425 2002 6,260,465 1,262,024,229 1,076,411,584 185,612,644 129,934,166 2003 6,295,739 1,269,582,713 1,082,054,410 187,528,304 123,535,607 2004 6,315,690 1,273,822,511 1,085,302,705 188,519,806 119,676,439 2005 6,321,796 1,275,014,272 1,086,364,980 188,649,292 118,122,688 Panel C: Incremental Pre-Tax Cash Flows from the ERP system 2000 2001 2002 Units 28,582 84,929 152,556 Revenues 6,344,217 19,512,006 34,165,229 COGS 5,272,185 15,486,778 27,148,584 Margin 1,072,031 4,025,227 7,016,644 Inventory (2,836,557) (10,057,866) (18,762,675) NWC (2,836,557) (7,221,309) (8,704,809) 2003 187,830 41,723,713 32,791,410 8,932,304 (25,161,234) (6,398,559) 2004 207,781 45,963,511 36,039,705 9,923,806 (29,020,402) (3,859,168) 2005 213,887 47,155,272 37,101,980 10,053,292 (30,574,153) (1,553,751) Capital Equipment Software licenses Capital Expenditures 1999 4,300,000 600,000 4,900,000 Depreciation by asset: 1999 Assets 2000 Assets 2001 Assets 2002 Assets Total Depr. Per Year 2001 6,192,838 1,247,371,006 1,064,749,778 182,621,227 138,638,975 2002 2,385,468 503,270,662 440,013,741 63,256,921 39,782,064 Change all the additional sales forecast to 20% 2000 8,600,000 300,000 8,900,000 Capital Expenditures and Depreciation 2001 2002 6,900,000 4,100,000 6,900,000 4,100,000 980,000 980,000 1,780,000 980,000 1,780,000 1,380,000 980,000 2,760,000 4,140,000 2003 - 2004 - 2005 - 2006 - 2007 - 980,000 1,780,000 1,380,000 820,000 4,960,000 980,000 1,780,000 1,380,000 820,000 4,960,000 1,780,000 1,380,000 820,000 3,980,000 1,380,000 820,000 2,200,000 820,000 820,000 2004 3,000,000 400,000 300,000 3,700,000 3,457,000 243,000 2005 3,000,000 400,000 3,400,000 3,503,000 (103,000) 2006 3,000,000 400,000 3,400,000 3,534,000 (134,000) 2007 3,000,000 400,000 3,400,000 3,566,000 (166,000) 2004 45,963,511 36,039,705 243,000 4,960,000 4,720,806 1,888,322 2,832,483 4,960,000 (3,859,168) 2005 47,155,272 37,101,980 (103,000) 3,980,000 6,176,292 2,470,517 3,705,775 3,980,000 (1,553,751) 2006 47,155,272 37,101,980 (134,000) 2,200,000 7,987,292 3,194,917 4,792,375 2,200,000 - 2007 47,155,272 37,101,980 (166,000) 820,000 9,399,292 3,759,717 5,639,575 820,000 - 1999 2,250,000 3,511,200 600,000 6,361,200 6,361,200 2000 2,250,000 1,663,200 1,200,000 100,000 300,000 5,513,200 621,000 4,892,200 Incremental Operating Expenses 2001 2002 2003 2,250,000 2,250,000 1,293,600 739,200 1,800,000 2,400,000 3,000,000 200,000 300,000 400,000 600,000 600,000 600,000 6,143,600 6,289,200 4,000,000 1,749,000 2,544,000 3,300,000 4,394,600 3,745,200 700,000 Revenue COGS Operating Expenses Depreciation EBIT Taxes (40%) EBIAT Plus Depreciation Minus CAPX Minus NWC 1999 6,361,200 (6,361,200) (2,544,480) (3,816,720) 4,900,000 - 2000 6,344,217 5,272,185 4,892,200 980,000 (4,800,169) (1,920,067) (2,880,101) 980,000 8,900,000 (2,836,557) Incremental Cash Flows and Valuation 2001 2002 2003 19,512,006 34,165,229 41,723,713 15,486,778 27,148,584 32,791,410 4,394,600 3,745,200 700,000 2,760,000 4,140,000 4,960,000 (3,129,373) (868,556) 3,272,304 (1,251,749) (347,422) 1,308,921 (1,877,624) (521,133) 1,963,382 2,760,000 4,140,000 4,960,000 6,900,000 4,100,000 (7,221,309) (8,704,809) (6,398,559) After-Tax Cash Flow (8,716,720) (7,963,544) 1,203,686 8,223,675 13,321,941 11,651,652 9,239,526 6,992,375 6,459,575 PV of Cash Flow (8,716,720) (7,306,004) 1,013,118 6,350,186 9,437,599 7,572,774 5,509,228 3,825,069 3,241,843 Whirlpool Employees Consultants On Going Operational License maintance Task force Implemtation Costs Other Exp. Savings Incre. Operating Exp. NPV 20,927,093 Simplified Income Statement for the West Wave Panel A: Forecasts without the ERP system 2000 2001 2002 2003 Units 2,271,139 2,271,139 2,271,139 2,271,139 Revenues 477,784,000 477,784,000 477,784,000 477,784,000 COGS 418,925,000 418,925,000 418,925,000 418,925,000 Margin 58,859,000 58,859,000 58,859,000 58,859,000 Inventory 51,648,288 51,648,288 51,648,288 51,648,288 2004 2,271,139 477,784,000 418,925,000 58,859,000 51,648,288 2005 2,271,139 477,784,000 418,925,000 58,859,000 51,648,288 Panel B: Forecasts with the ERP system 2000 2001 Units 2,299,721 2,345,453 Revenues 484,128,217 494,828,492 COGS 424,197,185 432,632,682 Margin 59,931,031 62,195,810 Inventory 49,973,915 47,174,742 2004 2,385,468 503,270,662 440,013,741 63,256,921 44,604,133 2005 2,385,468 503,270,662 440,013,741 63,256,921 44,604,133 2004 1,415,949 283,549,000 237,308,000 46,241,000 33,158,104 2005 1,415,949 283,549,000 237,308,000 46,241,000 33,158,104 2004 1,446,278.59 290,490,348.44 242,391,131.65 48,099,216.79 28,555,668 2005 1,446,278.59 290,490,348.44 242,391,131.65 48,099,216.79 28,555,668 2004 977,665 185,625,000 141,947,000 43,678,000 26,056,025 2005 977,665 185,625,000 141,947,000 43,678,000 26,056,025 2004 1,016,364.24 193,605,604.47 147,565,735.42 46,039,869.05 23,853,091 2005 1,016,364.24 193,605,604.47 147,565,735.42 46,039,869.05 23,853,091 Simplified Income Statement for the North Wave Panel A: Forecasts without the ERP system 2000 2001 2002 2003 Units 1,443,156 1,443,156 1,443,156 1,443,156 Revenues 280,901,000 280,901,000 280,901,000 280,901,000 COGS 251,083,000 251,083,000 251,083,000 251,083,000 Margin 29,818,000 29,818,000 29,818,000 29,818,000 Inventory 37,834,425 37,834,425 37,834,425 37,834,425 2004 1,443,156 280,901,000 251,083,000 29,818,000 37,834,425 2005 1,443,156 280,901,000 251,083,000 29,818,000 37,834,425 Panel B: Forecasts with the ERP system 2000 2001 Units 1,443,156 1,443,156 Revenues 280,901,000 280,901,000 COGS 251,083,000 251,083,000 Margin 29,818,000 29,818,000 Inventory 37,834,425 37,834,425 2003 1,455,367 283,690,450 253,207,548 30,482,901 35,934,660 2004 1,467,579 286,455,896 255,332,097 31,123,799 33,997,644 2005 1,473,684 287,647,657 256,394,371 31,253,285 33,015,166 Simplified Income Statement for All Waves Panel A: Forecasts without the ERP system 2000 2001 2002 2003 Units 6,107,909 6,107,909 6,107,909 6,107,909 Revenues 1,227,859,000 1,227,859,000 1,227,859,000 1,227,859,000 COGS 1,049,263,000 1,049,263,000 1,049,263,000 1,049,263,000 Margin 178,596,000 178,596,000 178,596,000 178,596,000 Inventory 148,696,841 148,696,841 148,696,841 148,696,841 2004 6,107,909 1,227,859,000 1,049,263,000 178,596,000 148,696,841 2005 6,107,909 1,227,859,000 1,049,263,000 178,596,000 148,696,841 Panel B: Forecasts with the ERP system 2000 2001 Units 6,136,491 6,192,838 Revenues 1,234,203,217 1,247,371,006 COGS 1,054,535,185 1,064,749,778 Margin 179,668,031 182,621,227 Inventory 147,022,468 142,637,788 2003 6,295,739 1,269,582,713 1,082,054,410 187,528,304 133,407,843 2004 6,315,690 1,273,822,511 1,085,302,705 188,519,806 131,010,535 2005 6,321,796 1,275,014,272 1,086,364,980 188,649,292 130,028,057 2003 187,830 41,723,713 32,791,410 8,932,304 (15,288,998) (3,962,288) 2004 207,781 45,963,511 36,039,705 9,923,806 (17,686,306) (2,397,307) 2005 213,887 47,155,272 37,101,980 10,053,292 (18,668,784) (982,478) Capital Expenditures and Depreciation 2001 2002 2003 6,900,000 4,100,000 6,900,000 4,100,000 - 2004 - 2005 - 2006 - 2007 - 980,000 1,780,000 1,380,000 820,000 4,960,000 980,000 1,780,000 1,380,000 820,000 4,960,000 1,780,000 1,380,000 820,000 3,980,000 1,380,000 820,000 2,200,000 820,000 820,000 2004 3,000,000 400,000 300,000 3,700,000 3,457,000 243,000 2005 3,000,000 400,000 3,400,000 3,503,000 (103,000) 2006 3,000,000 400,000 3,400,000 3,534,000 (134,000) 2007 3,000,000 400,000 3,400,000 3,566,000 (166,000) 2006 47,155,272 37,101,980 (134,000) 2,200,000 7,987,292 3,194,917 4,792,375 2,200,000 - 2007 47,155,272 37,101,980 (166,000) 820,000 9,399,292 3,759,717 5,639,575 820,000 - 2002 2,385,468 503,270,662 440,013,741 63,256,921 44,604,133 2003 2,385,468 503,270,662 440,013,741 63,256,921 44,604,133 Simplified Income Statement for the South Wave Panel A: Forecasts without the ERP system 2000 2001 2002 2003 Units 1,415,949 1,415,949 1,415,949 1,415,949 Revenues 283,549,000 283,549,000 283,549,000 283,549,000 COGS 237,308,000 237,308,000 237,308,000 237,308,000 Margin 46,241,000 46,241,000 46,241,000 46,241,000 Inventory 33,158,104 33,158,104 33,158,104 33,158,104 Panel B: Forecasts with the ERP system 2000 2001 Units 1,415,949.00 1,426,564.36 Revenues 283,549,000.00 286,016,513.15 COGS 237,308,000.00 239,087,096.08 Margin 46,241,000.00 46,929,417.07 Inventory 33,158,104 31,572,597 2002 1,438,696.20 288,967,395.98 241,120,348.74 47,847,047.24 29,727,166 2003 1,446,278.59 290,490,348.44 242,391,131.65 48,099,216.79 28,555,668 Simplified Income Statement for the Central Wave Panel A: Forecasts without the ERP system 2000 2001 2002 2003 Units 977,665 977,665 977,665 977,665 Revenues 185,625,000 185,625,000 185,625,000 185,625,000 COGS 141,947,000 141,947,000 141,947,000 141,947,000 Margin 43,678,000 43,678,000 43,678,000 43,678,000 Inventory 26,056,025 26,056,025 26,056,025 26,056,025 Panel B: Forecasts with the ERP system 2000 2001 Units 977,665.00 977,665.00 Revenues 185,625,000.00 185,625,000.00 COGS 141,947,000.00 141,947,000.00 Margin 43,678,000.00 43,678,000.00 Inventory 26,056,025 26,056,025 2002 993,144.70 188,885,170.75 144,194,494.17 44,690,676.58 25,204,407 2002 1,443,156 280,901,000 251,083,000 29,818,000 37,834,425 2002 6,260,465 1,262,024,229 1,076,411,584 185,612,644 137,370,131 Panel C: Incremental Pre-Tax Cash Flows from the ERP system 2000 2001 2002 Units 28,582 84,929 152,556 Revenues 6,344,217 19,512,006 34,165,229 COGS 5,272,185 15,486,778 27,148,584 Margin 1,072,031 4,025,227 7,016,644 Inventory (1,674,373) (6,059,053) (11,326,710) NWC (1,674,373) (4,384,680) (5,267,657) 1999 Capital Equipment,300,000 4 Software licenses 600,000 Capital Expenditures 4,900,000 Depreciation by asset: 1999 Assets 2000 Assets 2001 Assets 2002 Assets Total Depr. Per Year 2000 8,600,000 300,000 8,900,000 2003 1,008,624.39 192,131,253.17 146,441,988.33 45,689,264.84 24,313,382 980,000 980,000 1,780,000 980,000 1,780,000 1,380,000 980,000 2,760,000 4,140,000 change all the DSI reduction to 8 days and additional sales to 20% 1999 Whirlpool Employees 2,250,000 Consultants 3,511,200 On Going Operational 600,000 License maintance Task force Implemtation Costs 6,361,200 Other Exp. Savings Incre. Operating Exp. 6,361,200 2000 2,250,000 1,663,200 1,200,000 100,000 300,000 5,513,200 621,000 4,892,200 Incremental Operating Expenses 2001 2002 2003 2,250,000 2,250,000 1,293,600 739,200 1,800,000 2,400,000 3,000,000 200,000 300,000 400,000 600,000 600,000 600,000 6,143,600 6,289,200 4,000,000 1,749,000 2,544,000 3,300,000 4,394,600 3,745,200 700,000 1999 Revenue COGS Operating Expenses 6,361,200 Depreciation EBIT (6,361,200) Taxes (40%) (2,544,480) EBIAT (3,816,720) Plus Depreciation Minus CAPX 4,900,000 Minus NWC - 2000 6,344,217 5,272,185 4,892,200 980,000 (4,800,169) (1,920,067) (2,880,101) 980,000 8,900,000 (1,674,373) Incremental Cash Flows and Valuation 2001 2002 2003 19,512,006 34,165,229 41,723,713 15,486,778 27,148,584 32,791,410 4,394,600 3,745,200 700,000 2,760,000 4,140,000 4,960,000 (3,129,373) (868,556) 3,272,304 (1,251,749) (347,422) 1,308,921 (1,877,624) (521,133) 1,963,382 2,760,000 4,140,000 4,960,000 6,900,000 4,100,000 (4,384,680) (5,267,657) (3,962,288) 2004 45,963,511 36,039,705 243,000 4,960,000 4,720,806 1,888,322 2,832,483 4,960,000 (2,397,307) 2005 47,155,272 37,101,980 (103,000) 3,980,000 6,176,292 2,470,517 3,705,775 3,980,000 (982,478) After-Tax Cash Flow (8,716,720) (9,125,728) (1,632,944) 4,786,524 10,885,670 10,189,791 8,668,253 6,992,375 6,459,575 PV of Cash Flow (8,716,720) (8,372,228) (1,374,416) 3,696,075 7,711,683 6,622,665 5,168,596 3,825,069 3,241,843 NPV 11,802,567
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Western Kentucky University - FINANCE - 435
Outline for Interim Annual Report (Spring 2012) Due Wednesday, April 4The outline for the Annual Report is provided below. DO NOT WRITE THE ANNUALREPORT IN BULLET FORM AND DO NOT NUMBER IT ACCORDING TO THEOUTLINE. Make sure to write in complete sentenc
Kaplan University - ACC - 410
Krishna Panday AC410-01 Unit 5 9-56 A. One of the risk factors indicated in the dialogue is the lack of segregating duties. Secondly the lack of professional skepticism from Kent raises some concerns for me. Another concern would be for internal control d
Kaplan University - ACC - 410
Krishna Panday AC410-01 Unit 47-38 1. Internal or external 1. Vendor invoices: External 2. Vendor monthly statements: External 3. Sales invoices: Internal 4. Shipping documents for sales: External 5. Bank statements: External 6. Employee payroll time car
Kaplan University - ACC - 410
Krishna Panday AC410-01 Unit 3 4-62 A) After reviewing the discussion, the risk areas that should be identified in planning for the audit are the overstatement of the receivables because of a recording error and the allowance for uncollectibles is possibl
Kaplan University - ACC - 410
Krishna Panday AC410-01 Unit 2 project 1-38 An Audit of a publicly held company is a tool for third party users such as creditors, investors, and the community. They provide evidence such as stability and guarantee that there are no fraudulent activities
Kaplan University - ACC - 420
Exercise 6-21Name:You can put this one together! You might want to work Ex 44 and Pr 47 first though. This worksheet will look like the example in the book and in the Demo problem.Exercise 6-44Name:Insert your answers in the gray-shaded cells. If an
Kaplan University - ACC - 420
A. Costs of Goods Sold for the year COGS = $1,598,000 x 75% = $1,198,500 B. Costs of Goods Manufactured During the Year Cost of Goods Manufactured = $1,198,500 - $68,900 + $165,600 = $1,295,200 C. Amount of Applied overhead for each job in WIP Inventory J
Kaplan University - ACC - 420
A Jan Feb March$450,000 $412,500 $425,000 Over/Under $10,000.00 Over $(7,500.00) Under $4,000.00 Over $6,500.00 OverB Period Actual Applied Total Jan $450,000.00 $440,000.00 Feb $412,500.00 $420,000.00 March $425,000.00 $421,000.00 QuarterlyA Manufactu
Kaplan University - ACC - 420
Krishna Panday AC420-01 Unit 2 Project 2-20 LO.2 & LO.3 (Cost behavior and classii cation) Classify each of the following costs incurred in manufacturing bicycles as variable (V), fi xed (F), or mixed (M) cost (using number of units produced as the activi
Kaplan University - ACC - 302
E23-1 Identification and Effects of Changes and Errors The following are several independent events: 1. Change from the LIFO to the FIFO inventory cost flow assumption. 2. Reduction in remaining service life of machinery from 10 to 8 years. 3. A change fr
Kaplan University - ACC - 302
E22-2 Net Cash Flow From Operating Activities The following is accounting information taken from the Hyde Company's records for 2010: 1. Amortization of premium on bonds payable, $600 2. Purchase of equipment, $6,000 3. Depreciation expense, $7,400 4. Dec
Kaplan University - ACC - 302
E21-2 Lessee Accounting Issues The Sax Company signs a lease agreement dated January 1, 2010 that provides for it to lease computers from the Appleton Company beginning January 1, 2010. The lease terms, provisions, and related events are as follows: 1. Th
Kaplan University - ACC - 302
E20-9 Pension Expense and Liability Pitchford Company adopted a defined benefit pension plan on January 1, 2010, at which time it awarded retroactive benefits to its employees. The following information is available in regard to this plan: Prior service c
Kaplan University - ACC - 302
E19-5 Valuation Account At the end of 2010, its first year of operations, the Beattie Company reported taxable income of $38,000 and pretax financial income of $34,400. The difference is due to the way the company handles its warranty costs. For tax purpo
Kaplan University - ACC - 302
E18-1 Revenue Recognition Alternatives The Smith Construction Company received a contract on September 30, 2010 to build a warehouse over a period of 18 months. The contract price was $600,000 and the estimated cost to build was $400,000. The actual (and
Kaplan University - ACC - 302
E17-9 Convertible Securities and Earnings per Share Walker Company has 15,000 shares of common stock outstanding during all of 2010. It also has two convertible securities outstanding at the end of 2010. These are: 1. Convertible preferred stock: 1,000 sh
Kaplan University - ACC - 302
E16-8 Fixed Compensatory Share Option Plan On January 1, 2010, Sampress Company adopts a compensatory share option plan for its 50 executives. The plan allows each executive to purchase 200 shares of its $2 par common stock for $30 per share after complet
Kaplan University - ACC - 301
E15-4 Available-for-Sale Securities At the beginning of 2010, Ace Company had the following portfolio of investments in available-for-sale securities (common stock): 12/31/2009 Fair Value $20,000 30,000 $50,000 $25,000 29,000 $54,000Security A B Totals D
Kaplan University - ACC - 301
P14-3 Premium Amortization Schedule with Retirement Before Maturity The Dorsett Corporation issued $600,000 of 13% bonds on January 1, 2009 for $614,752.24. The bonds are due December 31, 2011, were issued to yield 12%, and pay interest semiannually on Ju
Kaplan University - ACC - 301
E13-19 Short-term Debt Expected to Be Refinanced On December 31, 2010, Excello Electric Company had $1 million of short-term notes payable due February 7, 2011. Excello expected to refinance these notes on a long-term basis. On January 15, 2011 the compan
Kaplan University - ACC - 301
P12-9 R&D CostsName:Krishna PandayAn asterisk (*) will appear next to an incorrect amount(s) in the outlined cell(s). If you are still getting a red asterisk, and think the answer is correct, but used a formula in the cell try manually typing in the an
Kaplan University - ACC - 301
P11-1 Depreciation Methods The Winsey Company purchased equipment on January 2, 2010, for $700,000. The equipment has the following characteristics: Estimated service life 20 years 100,000 hours 950,000 units of output Estimated residual value $50,000Dur
Kaplan University - ACC - 301
E10-3 Acquisition Costs The Voiture Company manufactures compact, energy-efficient cars. On April 1, it purchased a machine for its assembly line at a contract price of $200,000 with terms of 2/10, n/30. The company paid the contract price on April 8 and
Kaplan University - ACC - 301
E9-10 Retail Inventory Method The Harmes Company is a clothing store that uses the retail inventory method. The following information relates to its operations during 2010: Inventory, January 1 Purchases Markups (net) Markdowns (net) Sales Cost $28,400 65
Kaplan University - ACC - 301
E8-8 Alternative Inventory Methods An asterisk (*) will appear next to an incorrect amount(s) in the outlined cell(s). If you are still getting a red asterisk, and think the answer is correct, but used a formula in the cell try manually typing in the answ
Kaplan University - ACC - 301
E7-11 Receivables-Bad Debts (AICPA Adapted) At January 1, 2010, the credit balance in the Allowance for Doubtful Accounts of the Master Company was $400,000. For 2010, the provision for doubtful accounts is based on a percentage of net sales. Net sales fo
Kaplan University - ACC - 301
PM-1 Future Value of an Investment Using the future value tables, solve the following: Required 1. What is the future value on December 31, 2014 of a deposit of $35,000 made on December 31, 2010, assuming interest of 10% compounded annually? 2. What is th
Kaplan University - ACC - 301
P6-3 Interim Reporting The Schultz Company prepares interim financial statements at the end of each quarter. The income statement presented at the end of the first quarter of 2010 is as follows: Sales (net) Cost of goods sold Gross profit Operating expens
Kaplan University - ACC - 301
P5-9 Misclassifications The bookkeeper for the Olson Company prepared the following income statement and retained earnings statement for the year ended December 31, 2010: OLSON COMPANY December 31, 2010 Expense and Profits Statement Sales (net) Less: Sell
Kaplan University - ACC - 301
P4-4 Balance Sheet The following is a list (in random order) of the December 31, 2010 balance sheet accounts of the International Products Company: Additional paid-in capital on preferred stock Accounts receivable Dividends payable Buildings Bonds payable
Kaplan University - ACC - 301
P3-11 Worksheet The Fiorillo Company has the following account balances on December 31, 2010 prior to any adjustments: Debit $1,900 4,700 8,700 600 4,100 38,000 11,500 10,700 3,100 4,300 Credit $60 Notes payable (due March 1, 2011) Unearned rent Mortgage
Kaplan University - ACC - 301
Krishna Panday AC300 Section 02 Unit 21-9 A friend of yours says, "I understand there are `rules' for financial reporting. But what are these rules, where can a person find them, and which ones are more important?" The rules of Financial accounting come
Kaplan University - ACC - 301
Krishna Panday AC300 Section 02 Unit 31. Explain the rationale for recognizing costs as expenses at the time of a product sale.Recognizing costs as expenses is basically the Matching Principle; Benefit = Sales of goods. Expense = Production costs. At th
Kaplan University - ACC - 301
C1-9 GAAP Hierarchy A friend of yours says, "I understand there are `rules' for financial reporting. But what are these rules, where can a person find them, and which ones are more important?" Required Prepare an answer for your friend.C1-9 GAAP Hierarch
Kaplan University - HU - 245
Final ProjectFinal Project Krishna Panday HU245-01 Unit 9Final Project This Ethics course has been somewhat of a breath of fresh air for me. It has reallyopened up my eyes and has my mind running more and more. It has also helped me to actually read mo
Kaplan University - HU - 245
ExtremeNet vs. Allen Lopez In the case of ExtremeNet vs. Allen Lopez, I believe that Allen Lopez was in the wrong for his actions. Though his satire on his website was a way to express his distaste with ExtremeNet and their policy, Allen Lopez is an emplo
Kaplan University - HU - 245
Dear Governor Rick Scott, I was originally going to write you a letter telling you why I believe the death penalty is the best way to go. However through my typing of said letter, my morals became conflicted. Allow me to explain. I as a person am afraid o
Kaplan University - HU - 245
Abortion For as long as I can remember, Abortion has been a major argument with one side saying it should be the woman's choice and the other saying it should be illegal. Though I am a male, I have been affected by an abortion as my girlfriend had to have
Kaplan University - LS - 311
Case StudyCase Study Krishna Panday LS311-04 Unit 9Case Study Langley Brothers, Inc., a corporation incorporated and doing business in Kansas, decides to sell no par common stock worth $1 million to the public. The stock will be sold only within the sta
Kaplan University - LS - 311
Case Study Krishna Panday LS311-04 Unit 8Greg Allen is an employee, shareholder, director and the president of Greg Allen Construction Co. In 1996, Daniel and Sondra Estelle hired Allen's firm to renovate a home they owned in Ladoga, Indiana. To finance
Kaplan University - LS - 311
Case StudyCase Study Krishna Panday LS311-04 Unit 7Case Study The Milwaukee County Juvenile Detention Center started a new policy that required each unit of the facility to be staffed at all times by at least one officer of the same gender as the detain
Kaplan University - LS - 311
Case StudyCase Study Krishna Panday LS311-04 Unit 6Case Study Mary DeFontes bought a computer and a service contract from Dell Computers Corp. DeFontes was charged $950.51, of which $13.51 was identified on the invoice as "tax." This amount was paid to
Kaplan University - LS - 311
Case StudyCase Study Krishna Panday LS311-04 Unit 5Case StudyCase Study Millie contracted to sell Frank 10,000 bushels of corn to be grown on Millie's farm. Due to a drought during the growing season, Millie's yield was much less than anticipated, and
Kaplan University - LS - 311
Case StudyCase Study Krishna Panday LS311-04 Unit 4Case Study Express versus Implied Contracts. Suppose that a local businessperson, McDougal, is a good friend of Krunch, the owner of a local candy store. Every day on his lunch hour McDougal goes into K
Kaplan University - LS - 311
ContractsContracts Krishna Panday LS311-04 Unit 4Contracts Carrie offered to sell a set of legal encyclopedias to Antonio for $300.00. Antonio said that he would think about her offer and let her know his decision the next day. Norvel, who had overheard
Kaplan University - LS - 311
Case StudyCase Study Unit 3 Krishna Panday LS311 04 August 22nd, 2011Case Study Armington, while robbing a drugstore, shot and seriously injured Jennings, a drugstore clerk. Armington was subsequently convicted in a criminal trial of armed robbery and a
Kaplan University - LS - 311
CrimeCrime Krishna Panday LS311 04 August 21st 2011Crime When looking at all three crimes, the main similarity is the theft of the computer. However I do believe that where the similarities end. While each of these crimes involved theft, the classificat
Kaplan University - LS - 311
Duty of CareDuty of Care Krishna Panday LS311 04 August 13th 2011Duty of Care In the case of Esposito Vs Davis, the factors which indicate whether Davis owed Esposito Duty of Care come to three elements; "They are the likelihood that his conduct will in
Kaplan University - LS - 311
Case StudyCase Study Unit 2 Krishna Panday LS311 04 August 13th, 2011Case Study I do not believe that the arbitration agreement was binding, thus the homeowners can sue in court. Osborne Development Corp. signed the contract with Home Buyers Warranty (H
UCSC - BILD - 13A
Chapter 10The SensesSense ReceptorsChemoreceptorsPain receptorsThermoreceptorsMechanoreceptorsPhotoreceptors Adaptation is ignoring of sense uponrepeated stimuliTouch and Pressure Free nerveendings foritch Tactilecorpuscles forlight touche
UCSC - BILD - 13A
Chapter 11HormonesThe Endocrine SystemIntracellular(steroidal)ReceptorSignalingMembrane receptor signaling(nonsteroidal)Negative Feedback LoopsRegulate HormonesControlling GlandsHypothalamus is the master controllerPituitary responds to the h
UCSC - BILD - 13A
Chapter 12BloodComponents ofBlood Plasma Blood Cells Red White PlateletsRed Blood Cell Feedback LoopsRed Blood Cell Life CycleRed Blood Cell Diseases Anemia too few cells Sickle-Cell Anemia misshapen cellsWhite Blood Cells Lymphocytes T ce
UCSC - BILD - 13A
Chapter 13Cardiovascular SystemCirculatory System Functions transport (gases, nutrients,wastes, hormones). Also regulatestemperature, clotting, immunity Components Heart Blood vessels BloodPulmonary and Systemic CircuitsLung capillariesPulmona
UCSC - BILD - 13A
Chapter 14The Lymphatic System andImmunityAIDS is a Disease of the Immune SystemThe LymphaticSystemConnects withtheCardiovascularSystemFunctions of the Lymphatic System Fluid and lipid transport ImmunityParts of the Lymphatic System Capillar
UCSC - BILD - 13A
Chapter 15Digestive System and NutritionSteps in DigestionHuman Digestive SystemAlimentary Canal One way tube that foodpasses through Inner wall is made ofmucosal tissue Contains muscular tissue topush food throughMuscular Contractions Allow f
UCSC - BILD - 13A
Chapter 16Respiratory SystemGasExchangeRespiratory SystemMucous Membranes of theRespiratory Tract Mucous is moved in the direction of thepharynx by ciliaUpper Respiratory Tract Nose Nasal Cavity PharynxLower Respiratory TractLarynxTracheaB
UCSC - BILD - 13A
Chapter 17Urinary SystemUrinary System ComponentsKidneys Function Filters blood and creates urine Secrete blood hormones Structures Renal medulla and cortex Nephron Renal vesselsKidneysNephrons and Renal Vessels Nephrons arefunction units B
UCSC - BILD - 13A
Chapter 18Water BalanceDistribution of Fluids Intracellular inside cells ~2/3 Extracellular outside cells ~1/3ElectrolyteDistributionOsmotic and Hydrostatic PressureInfluence Fluid MovementHow Water is Gained and LostDisorders of Water Balance
UCSC - BILD - 13A
Chapter 19Reproductive SystemMale Reproductive SystemPath of Sperm Testis epididymis vas deferens urethra Semen contains sperm and fluid fromseminal vesicles, prostate, andbulbourethral glandsTesticle Structure and SpermatogenesisSperm Head has
UCSC - BILD - 13A
Chapter 20Development Sperm meets egg inoviduct Acrosome releasesenzymes to digest zonapellucida Egg prevents othersperm from entering Meiosis completes andfusionColorized SEM 500FertilizationFertilizationDevelopmentFirst Divisions of an Em
UCSC - CHEM - 101B
Voltaic Cell:Anode: Negative, electrons flow out of it, site of oxidationCathode: Positive, electrons flow into it, site of reductionElectrolytic Cell:Anode: Positive, electrons flow out of it, site of oxidationCathode: Negative, electrons flow into