MGT 5000 Midterm Exam
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MGT 5000 Midterm Exam
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Description
Prepare answers to 8 of the following. You can use Excel. But, you should copy and paste
your Excel work into this document for submission. Provide at least three references at the end
of this document in APA format. When you have completed your work, save the file and use the
ANGEL email feature to submit it for grading. Do not submit more than one file.
1.
your Excel work into this document for submission. Provide at least three references at the end
of this document in APA format. When you have completed your work, save the file and use the
ANGEL email feature to submit it for grading. Do not submit more than one file.
1.
Distinguish between Managerial Accounting and Financial Accounting. Find a job ad
for each of these at a site such as Monster.com. Compare the job duties of each and
discuss the similarities and differences between what the employers are looking for in
terms of relevant skills, duties, and or qualifications between these two type jobs.
2. Provide a short history of accounting.
3. Look up the annual reports for Ford and GM. Evaluate each companys liquidity,
compare the two, and come up with a judgment regarding their current ability to meet
short term bills as they come due. Evaluate Ford and GM in terms of inventory
turnover, compare the two, and post a conclusion
4. Do some research on International Financial Reporting Standards. Where does that
undertaking stand today?
5. Look up the annual reports for Ford and GM who trade stock in a public stock exchange
such as the NYSE. Evaluate each companys profitability (pg 414), compare the two,
and come up with a value judgment regarding their current situation.
6. Look up the annual reports for Ford and GM who trade stock in a public stock exchange
such as the NYSE. Prepare common size income statements for each, compare the
two, and come up with a value judgment regarding their current situation. (These are a
percentage analysis of the components of the statement)
7. Look up the annual reports for Ford and GM who trade stock in a public stock exchange
such as the NYSE. Prepare common size balance sheets for each, compare the two,
and come up with a value judgment regarding their current situation. For example, you
might point out one of them if it appears they are holding a lot more inventory as a
percentage of total assets.
8. Discuss the optional methods that can be used for costing inventory (i.e. FIFO, LIFO,
Average, Specific ID). Explain which inventory costing system you would use and why.
What inventory costing method do GM and Ford use?
9. Complete a financial analysis of Dollar General based on the financial reports you will
find for 2011. The analytical procedures you need to do are listed below. You should
provide an explanation of each ratio you compute along with your judgment regarding
the companys ratio. http://finance.yahoo.com/q/is?s=DG+Income+Statement&annual
A. Return on average total assets.____________
B. Net profit margin (net income / Sales)._____________
C. Working capital_____________
D. Current ratio____________
E. Acid test ratio.____________
10. Write a short report on one of the following:
a. The ENRON scandal.
b. Health South
c. World Com
d. Tyco Fraud case.
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MGT 5000 Midterm exam
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Description
MGT 5000 Midterm exam
Test questions are based on the financial statements below.
NYSE: WMT74.21at 1:40pm EST on Sept 25
|
2013 |
2012 |
2011 |
|
|
Period End Date |
1/31/2013 |
1/31/2012 |
1/31/2011 |
|
Stmt Source |
N/A |
10-K |
10-K |
|
Stmt Source Date |
1/31/2013 |
3/26/2013 |
3/26/2013 |
|
Stmt Update Type |
Original |
Updated |
Updated |
|
Currency Code |
USD |
USD |
USD |
|
Total Revenue |
469,162.00 |
446,950.00 |
421,849.00 |
|
Cost of Revenue |
352,488.00 |
335,127.00 |
314,946.00 |
|
Gross Profit |
116,674.00 |
111,823.00 |
106,903.00 |
|
Selling,General and Administrative |
88,873.00 |
85,265.00 |
81,361.00 |
|
Operating Expenses |
88,873.00 |
85,265.00 |
81,361.00 |
|
Operating Income |
27,801.00 |
26,558.00 |
25,542.00 |
|
Net Interest Income |
-2,064.00 |
-2,160.00 |
-2,004.00 |
|
Pretax Income |
25,737.00 |
24,398.00 |
23,538.00 |
|
Provision for Income Tax |
7,981.00 |
7,944.00 |
7,579.00 |
|
Minority Interest |
757 |
688 |
604 |
|
Discontinued Operations |
0 |
-67 |
1,034.00 |
|
Net Income |
16,999.00 |
15,699.00 |
16,389.00 |
|
Wal-Mart Stores Inc., Consolidated Balance Sheet (rounded to millions) |
||||
|
Assets |
2013 |
2012 |
2011 |
|
|
7,781.00 |
6,550.00 |
7,395.00 |
|
|
Cash and Cash Equivalents |
7,781.00 |
6,550.00 |
7,395.00 |
|
|
Receivables |
6,768.00 |
5,937.00 |
5,089.00 |
|
|
Inventories |
43,803.00 |
40,714.00 |
36,318.00 |
|
|
Prepaid Assets and Others |
1,588.00 |
1,774.00 |
2,960.00 |
|
|
Other Current Assets |
0 |
0 |
131 |
|
|
Total Current Assets |
59,940.00 |
54,975.00 |
51,893.00 |
|
|
116,681.00 |
112,324.00 |
107,878.00 |
|
|
171,724.00 |
160,938.00 |
154,489.00 |
|
|
Land and Improvements |
25,612.00 |
23,499.00 |
24,386.00 |
|
|
Buildings and Improvements |
90,686.00 |
84,275.00 |
79,051.00 |
|
|
Machinery,Furniture/Equipment |
43,699.00 |
41,916.00 |
40,885.00 |
|
|
Other Properties |
0 |
0 |
5,905.00 |
|
|
Construction in Progress |
5,828.00 |
5,312.00 |
4,262.00 |
|
|
Leasehold and Improvements |
5,899.00 |
5,936.00 |
0 |
|
|
Accumulated Depreciation |
-55,043.00 |
-48,614.00 |
-46,611.00 |
|
|
20,497.00 |
20,651.00 |
16,763.00 |
|
|
Goodwill |
20,497.00 |
20,651.00 |
16,763.00 |
|
|
Deferred Costs |
5,987.00 |
5,456.00 |
0 |
|
|
Other Non-Current Assets |
0 |
0 |
4,129.00 |
|
|
Total Non-Current Assets |
143,165.00 |
138,431.00 |
128,770.00 |
|
|
Total Assets |
203,105.00 |
193,406.00 |
180,663.00 |
|
|
Liabilities and Shareholders’ Equity |
|
|
|
|
|
43,142.00 |
40,095.00 |
33,714.00 |
|
|
Accounts Payable |
38,080.00 |
36,608.00 |
33,557.00 |
|
|
Taxes Payable |
5,062.00 |
3,487.00 |
157 |
|
|
Accrued Expenses,Current |
15,957.00 |
15,857.00 |
18,701.00 |
|
|
Current Debt |
12,392.00 |
6,022.00 |
5,686.00 |
|
|
Current Portion of Capital Lease Obligation |
327 |
326 |
336 |
|
|
Other Current Liabilities |
0 |
0 |
47 |
|
|
Total Current Liabilities |
71,818.00 |
62,300.00 |
58,484.00 |
|
|
41,417.00 |
47,079.00 |
43,842.00 |
|
|
Long Term Debt |
38,394.00 |
44,070.00 |
40,692.00 |
|
|
Long Term Portion of Capital Lease Obligation |
3,023.00 |
3,009.00 |
3,150.00 |
|
|
7,613.00 |
7,862.00 |
6,682.00 |
|
|
Deferred Taxes,Non-Current Liabilities |
7,613.00 |
7,862.00 |
6,682.00 |
|
|
Minority Interest |
5,395.00 |
4,446.00 |
2,705.00 |
|
|
Other Non-Current Liabilities |
519 |
404 |
408 |
|
|
Total Non-Current Liabilities and MI |
54,944.00 |
59,791.00 |
53,637.00 |
|
|
Total Liabilities |
126,762.00 |
122,091.00 |
112,121.00 |
|
|
332 |
342 |
0 |
|
|
Common Stock |
332 |
342 |
0 |
|
|
Retained Earnings |
72,978.00 |
68,691.00 |
63,967.00 |
|
|
Additional Paid in Capital |
3,620.00 |
3,692.00 |
3,577.00 |
|
|
Accum Gains/ Losses Not Affecting RE |
-587 |
-1,410.00 |
646 |
|
|
Total Equity |
76,343.00 |
71,315.00 |
68,542.00 |
|
|
Total Liabilities and Equity |
203,105.00 |
193,406.00 |
180,663.00 |
|
|
Ordinary Shares Outstanding |
3,314.00 |
3,418.00 |
3,516.00 |
For each of the following, perform the computations, show your work and give your interpretation of the results of your computations.
1. Return on average total assets (ROI) for 2013 and 2012.
2. Earnings per share for 2013 and 2012.
3. Return on equity for 2013 and 2012
4. Working capital for 2013 and 2012
5. Current ratio for 2013 and 2012.
6. Acid test ratio for 2013 and 2012.
7. Trend analysis in Net Sales
8. Trend analysis in Net Income
9. Price earnings ratio based on the 2013 EPS.
10. Trend analysis in inventory.
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Related products
MGT 5000 -Midterm exam
$21.00
Description
MGT 5000 Midterm exam
Test questions are based on the financial statements below.
|
2013 |
2012 |
2011 |
|
|
Period End Date |
1/31/2013 |
1/31/2012 |
1/31/2011 |
|
Stmt Source |
N/A |
10-K |
10-K |
|
Stmt Source Date |
1/31/2013 |
3/26/2013 |
3/26/2013 |
|
Stmt Update Type |
Original |
Updated |
Updated |
|
Currency Code |
USD |
USD |
USD |
|
Total Revenue |
469,162.00 |
446,950.00 |
421,849.00 |
|
Cost of Revenue |
352,488.00 |
335,127.00 |
314,946.00 |
|
Gross Profit |
116,674.00 |
111,823.00 |
106,903.00 |
|
Selling,General and Administrative |
88,873.00 |
85,265.00 |
81,361.00 |
|
Operating Expenses |
88,873.00 |
85,265.00 |
81,361.00 |
|
Operating Income |
27,801.00 |
26,558.00 |
25,542.00 |
|
Net Interest Income |
-2,064.00 |
-2,160.00 |
-2,004.00 |
|
Pretax Income |
25,737.00 |
24,398.00 |
23,538.00 |
|
Provision for Income Tax |
7,981.00 |
7,944.00 |
7,579.00 |
|
Minority Interest |
757 |
688 |
604 |
|
Discontinued Operations |
0 |
-67 |
1,034.00 |
|
Net Income |
16,999.00 |
15,699.00 |
16,389.00 |
|
Wal-Mart Stores Inc., Consolidated Balance Sheet (rounded to millions) |
||||
|
Assets |
2013 |
2012 |
2011 |
|
|
7,781.00 |
6,550.00 |
7,395.00 |
|
|
Cash and Cash Equivalents |
7,781.00 |
6,550.00 |
7,395.00 |
|
|
Receivables |
6,768.00 |
5,937.00 |
5,089.00 |
|
|
Inventories |
43,803.00 |
40,714.00 |
36,318.00 |
|
|
Prepaid Assets and Others |
1,588.00 |
1,774.00 |
2,960.00 |
|
|
Other Current Assets |
0 |
0 |
131 |
|
|
Total Current Assets |
59,940.00 |
54,975.00 |
51,893.00 |
|
|
116,681.00 |
112,324.00 |
107,878.00 |
|
|
171,724.00 |
160,938.00 |
154,489.00 |
|
|
Land and Improvements |
25,612.00 |
23,499.00 |
24,386.00 |
|
|
Buildings and Improvements |
90,686.00 |
84,275.00 |
79,051.00 |
|
|
Machinery,Furniture/Equipment |
43,699.00 |
41,916.00 |
40,885.00 |
|
|
Other Properties |
0 |
0 |
5,905.00 |
|
|
Construction in Progress |
5,828.00 |
5,312.00 |
4,262.00 |
|
|
Leasehold and Improvements |
5,899.00 |
5,936.00 |
0 |
|
|
Accumulated Depreciation |
-55,043.00 |
-48,614.00 |
-46,611.00 |
|
|
20,497.00 |
20,651.00 |
16,763.00 |
|
|
Goodwill |
20,497.00 |
20,651.00 |
16,763.00 |
|
|
Deferred Costs |
5,987.00 |
5,456.00 |
0 |
|
|
Other Non-Current Assets |
0 |
0 |
4,129.00 |
|
|
Total Non-Current Assets |
143,165.00 |
138,431.00 |
128,770.00 |
|
|
Total Assets |
203,105.00 |
193,406.00 |
180,663.00 |
|
|
Liabilities and Shareholders’ Equity |
|
|
|
|
|
43,142.00 |
40,095.00 |
33,714.00 |
|
|
Accounts Payable |
38,080.00 |
36,608.00 |
33,557.00 |
|
|
Taxes Payable |
5,062.00 |
3,487.00 |
157 |
|
|
Accrued Expenses,Current |
15,957.00 |
15,857.00 |
18,701.00 |
|
|
Current Debt |
12,392.00 |
6,022.00 |
5,686.00 |
|
|
Current Portion of Capital Lease Obligation |
327 |
326 |
336 |
|
|
Other Current Liabilities |
0 |
0 |
47 |
|
|
Total Current Liabilities |
71,818.00 |
62,300.00 |
58,484.00 |
|
|
41,417.00 |
47,079.00 |
43,842.00 |
|
|
Long Term Debt |
38,394.00 |
44,070.00 |
40,692.00 |
|
|
Long Term Portion of Capital Lease Obligation |
3,023.00 |
3,009.00 |
3,150.00 |
|
|
7,613.00 |
7,862.00 |
6,682.00 |
|
|
Deferred Taxes,Non-Current Liabilities |
7,613.00 |
7,862.00 |
6,682.00 |
|
|
Minority Interest |
5,395.00 |
4,446.00 |
2,705.00 |
|
|
Other Non-Current Liabilities |
519 |
404 |
408 |
|
|
Total Non-Current Liabilities and MI |
54,944.00 |
59,791.00 |
53,637.00 |
|
|
Total Liabilities |
126,762.00 |
122,091.00 |
112,121.00 |
|
|
332 |
342 |
0 |
|
|
Common Stock |
332 |
342 |
0 |
|
|
Retained Earnings |
72,978.00 |
68,691.00 |
63,967.00 |
|
|
Additional Paid in Capital |
3,620.00 |
3,692.00 |
3,577.00 |
|
|
Accum Gains/ Losses Not Affecting RE |
-587 |
-1,410.00 |
646 |
|
|
Total Equity |
76,343.00 |
71,315.00 |
68,542.00 |
|
|
Total Liabilities and Equity |
203,105.00 |
193,406.00 |
180,663.00 |
|
|
Ordinary Shares Outstanding |
3,314.00 |
3,418.00 |
3,516.00 |
For each of the following, perform the computations, show your work and give your interpretation of the results of your computations.
1. Return on average total assets (ROI) for 2013 and 2012.
2. Earnings per share for 2013 and 2012.
3. Return on equity for 2013 and 2012
4. Working capital for 2013 and 2012
5. Current ratio for 2013 and 2012.
6. Acid test ratio for 2013 and 2012.
7. Trend analysis in Net Sales
8. Trend analysis in Net Income
9. Price earnings ratio based on the 2013 EPS.
10. Trend analysis in inventory.
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