VoyForums
[ Show ]
Support VoyForums
[ Shrink ]
VoyForums Announcement: Programming and providing support for this service has been a labor of love since 1997. We are one of the few services online who values our users' privacy, and have never sold your information. We have even fought hard to defend your privacy in legal cases; however, we've done it with almost no financial support -- paying out of pocket to continue providing the service. Due to the issues imposed on us by advertisers, we also stopped hosting most ads on the forums many years ago. We hope you appreciate our efforts.

Show your support by donating any amount. (Note: We are still technically a for-profit company, so your contribution is not tax-deductible.) PayPal Acct: Feedback:

Donate to VoyForums (PayPal):

[ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, 2, [3] ]

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Date Posted: 13:50:14 01/31/00 Mon
Author: Charles Hodges
Subject: Here is Hodges Quiz 1,

Write your name and answers on a separate page. This quiz is open book open notes. You have 50 minutes. Point values are listed with each question.

1. (45)Write out the Income Statement and Balance Sheet in the correct format and fill in the missing numbers. It is probably easier to copy/paste to create the correct format, then fill

Current Portion of Long Term Debt 1.7 Interest Expense .5
Earnings before Taxes ____ Income Taxes ____
Depreciation 2.5 EBIT _____ Total Current Assets 17.1
Net Plant and Equipment _____ Total Assets _______
Accounts Receivable 3.6 Prepaid Rent 1.0
As of December 31, 1999 Cash and Marketable Securities _____
Inventory 9.5 Cost of Goods Sold ______
Gross Profit 28.5 Selling and Administrative Expenses 13
Labor Expense 6.0 Total Current Liabilites _____
Long Term Debt 3.5 Income Statement
For the Period January 1, 1999 to December 31, 1999
Sales 74.0 Retained Earnings 7.0
Total Liabilites and Stockholder’s Equity 23.6
Net Income 3.5 Balance Sheet
Accounts Payable _______ Paid In Capital 4.0
Common Stock (.01 par) 1.0 Other Short Term Liabilities 3.0

2. (20)On page 570 of your text book (Brigham, Gapenski, and Ehrhardt) is the 12/31/98 Balance Sheet and Income Statement for VanAuken Lumber. On page 572, is the 12/31/98 Balance Sheet and Income Statement for Stevens Textile. Assume that these statements apply to the same company. Further assume that the Stevens Textile Statements are dated 12/31/99. Based on these assumptions our Company’s beginning cash balance was $1,800 and our ending cash balance was $1,080. Given this information, write out the “Operations Portion” of an indirect Statement of Cash Flows.

3. (15)What is the difference between stock price maximization and profit maximization? Which is the better goal for managers?


4. (10)Two key limitations of the proprietorship form of business involve potential difficulty in raising needed capital and the presence of unlimited personal liability for business debts.
a. True b. False

5.(10) As long as sales revenues exceed all costs over part of an accounting period, a firm will avoid any cash shortage.
a. True b. False

[ Next Thread | Previous Thread | Next Message | Previous Message ]
[ Contact Forum Admin ]

Forum timezone: GMT-8
VF Version: 3.00b, ConfDB:
Before posting please read our privacy policy.
VoyForums(tm) is a Free Service from Voyager Info-Systems.
Copyright © 1998-2019 Voyager Info-Systems. All Rights Reserved.