W09MT_261-forW12-review

W09MT_261-forW12-review - Name (print, please) _ UW email...

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Name (print, please) _______________________________________ UW email userid___________________________ Midterm Exam MSci 261 Engineering Economics Winter 2009 Department of Management Sciences, Faculty of Engineering Friday, March 6, 5:00 – 7:00 pm. Locations: Please indicate your section with an X ± Section 1 (Electrical, Fuller, 9:30 classes): RCH 301 & RCH 307 ± Section 2 (Mechanical, Wong, 8:30 classes): RCH 302 & RCH 306 ± Section 5 (Management, Fuller, 1:30 classes): RCH 305 & RCH 309 (overflow to RCH 301 or 307) Instructors : David Fuller, Steven Wong Aids Permitted : Non-communicating calculators only ( No cell phones, PDAs or computers). Formula sheet and interest tables are attached (detach them if you wish, as they need not be turned in). Time available : 2 hours Instructions: Write in the spaces provided. If you need more space, use the blank page 13 or the back of a page, but be sure to write a note to the marker to indicate where your answer continues. This exam has 11 questions, with 15 pages, including an extra blank page for your work, a formula sheet and one page of interest tables; check to make sure no pages are missing. Please be sure to put your name on this cover page, and UW email userid on every page. Show your work. Be sure to read the whole of each question and answer all parts. Grading: see next page
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UW email userid___________________________ 2 Problem Marks: 1 /5 2 /8 3 /6 4 /4 5 /6 6 /9 7 /4 8 /10 9 /6 10 /6 11 /8 Total /72
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UW email userid___________________________ 3 Problem 1. The balance sheet of the First Chemical Plant contains the following information: not covered in Fall 2010 midterm exam A SSETS L IABILITIES Current assets Cash $5,000 Accounts receivable $5,000 Inventories $25,000 Total current assets $35,000 Fixed assets Land **** _________ Plant a nd equipment $100,000 Total fixed assets **** _________ Other assets Deferred charges $10,000 Intangibles $10,000 Total other assets $20,000 Total asset s $255,000 Current liabilities Accounts payable $1,500 Notes payable **** _________ Accrued expenses $5,000 Total current liabilities $8,000 Long - t erm liabilities Mortgage bonds **** _________ Debentures $50,000 Total long - term liabilities **** _________ Total Liabilities **** _________ (a) (3 marks) Total Owners’ Equity is $147,000. Fill in the blanks above (beside the **** symbols) for " Land ," "Total fixed assets," " Mortgage bonds ," "Notes payable , " "Total Liabilities," and "Total long - term liabilities." (b) (2 marks) If the annual sales value was $400,000, profit after income tax was $32,000, and interest paid on all liabilities was $6000, then calculate : (i) the inventory turnover ratio; and (ii) the acid test ratio. Comment on how well this company is performing compared with th e industry average, if the industry average s for th ese measure s are 6.2 (inventory turnover ratio), and 1.6 (acid test ratio) .
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W09MT_261-forW12-review - Name (print, please) _ UW email...

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