HIEBERT CHOCOLATE, LTD
Hiebert Chocolate, Ltd. is located in Memphis. The company prepares gift boxes of chocolates for private parties and
corporate promotions. Each order contains a selection of chocolates determi
Lance Berkman is the controller of Saturn, a dance club whose year-end is December 31.
Berkman prepares checks for suppliers in December, makes the proper journal entries, and posts
them to the appropriate accounts in that month. However, he hol
Ross's Lipstick Company's long-term debt agreements make certain demands on the business.
For example, Ross may not purchase treasury stock in excess of the balance of retained earnings.
Also, long-term debt may not exceed stockholders' equity,
Rick Pines and Joe Lopez are the plant managers for High Mountain Lumber's particle board
division. High Mountain Lumber adopted a just-in-time management philosophy. Each plan
combines wood chips with chemical adhesives to produce particle boar
Theater by Design and Show Cinemas are asking you to recommend their stock to your clients.
Because Theater by Design and Show Cinemas earn about the same net income and have similar
financial positions, your decision depends on their statement
Moss Exports is having a bad year. Net income is only $60,000. Also, two important overseas
customers are falling behind in their payments to Moss, and Moss's accounts receivable are
ballooning. The company desperately needs a loan. The Moss Exp
Raffie's Kids, a nonprofit organization that provides aid to victims of domestic
violence, low-income families, and special-needs children, has a 30-year, 5%
mortgage on the existing building. The mortgage requires monthly payments
of $3,000. Ra
Bill and Edna had been married two years and had just reached the point
where they had enough savings to start investing. Bill's uncle Dave told them
that he had recently inherited some very rare railroad bonds from his
grandmother's estate. He
Wild Adventure conducts tours of wildlife reserves around the world. The
company recently purchased a lodge in Adelaide, Australia, securing a 4%
mortgage from First Bank. In addition to monthly payments, Wild Adventure
must provide annual repor