...ACC 561 WEEK 2 A+ Graded Tutorial Available At: http://hwsoloutions.com/?product=week-2-2 Visit Our website: http://hwsoloutions.com/ Product Description ACC 561 Week 2 Introduction Determining which form of business organization to operate as is imperative when opening a business. One needs to be knowledgeable of the intentions of the business, who is involved in the formation of the business, and components needed for a business to succeed. The business established gives a good determination of which form of business organization to pursue. In this paper, one will discuss a new small business and the goods or services it provides. Also, one will discuss the different forms of business organizations and which will work for the new business. Business Organization “Sole proprietorship is the simplest and most general structure chosen to start a business. It is an unincorporated business owned and run by one individual” (Small Business Administration, 2014, para. 1). One main advantage of sole proprietorship is having one owner, which means one would be entitled to all the profits. Another advantage to a sole proprietorship is that one can make all the business decisions without consulting with anyone. However, one who chooses a sole proprietorship assumes responsibility for debts and liabilities, which can become a burden to some business owners. Moreover, when operating as a sole proprietorship it is hard to raise money as investors and banks are leery to invest...
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... 2. Which of the following is a measure of liquidity? • Debt to equity ratio • Profit margin • Working capital • Earnings per shar Want help? Click to download ACC 561 Week 2 Quiz 3. Current assets divided by current liabilities is known as the • capital structure. • working capital • current ratio. • profit margin. 4. Danner Corporation reported net sales of $600,000, $680,000, and $800,000 in the years 2011, 2012, and 2013, respectively. If 2011 is the base year, what percentage do 2013 sales represent of the base? • 33% • 133% • 75% • 113% Want help? Click to download ACC 561 Week 4 Quiz 5 .An analyzing financial statements, horizontal analysis is a • theory. • requirement. • tool. • principle. 6. Comparative balance sheets • are usually prepared for at least one year. • are usually prepared for at least two years. • do not show both dollar amount and percentage changes. • do not show a comparison of total stockholders' equity. Complete Answers just a click away ACC 561 Week 1 Quiz 7. Assume the following cost of goods sold data for a company: 2013 $1,500,000 2012 1,200,000 2011 1,000,000 If 2011 is the base year, what is the percentage increase in cost of goods sold from 2011 to 2013? • 50% • 67% • 150% • 20% 8. Comparisons of data within a company are an example of the following comparative basis: • Intercompany. • Interregional. • Industry averages. • Intracompany. Want help? Click to download ACC 561 Week...
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...Small Business Analysis James Dillon ACC/561 March 9, 2015 Tom Myers Small Business Idea My idea for a business is to open a business consulting firm for small business. I want to be able to provide expert insight to business owners on how to run the best and most profitable that they can. This business would start small with a handful of consultants and possibly in the future scale to multiple locations geographically. Sole Proprietorship In a sole proprietorship a company is owned and operated by one person. The only advantage to sole proprietorship is the owner will obtain the profits that the business makes as well as it is not difficult to obtain a sole proprietorship. The main disadvantage to sole proprietorship is the owner’s personal assets are liable for all business encounters. Due to this fact, a sole proprietorship is never the optimal choice for a form of business. DeFrancesco states the following about a sole proprietorship: “If the practice is structured as a professional corporation, S or C corporation, or a limited liability partnership, the assets of the company, rather than the physician’s assets, would be at risk in such cases” (DeFrancesco, 2006). Partnership A partnership is when two or more people bring their assets together and create a business. A couple of advantages of a partnership is that both of the parties are bringing in their time, effort and money to form the business. Also many times in partnership there is one person...
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...Financial Statement Analysis NAME ACC/561 Accounting DATE University of Phoenix PROFESSOR Introduction Samsung – International Manufacturing Company Samsung served as the manufacturing industry and international company analyzed. Samsung has been in business for over 70 years and manufactures products for diverse markets, including: digital media, high -tech electronics, home appliances, information technology and telecommunication. Samsung's motto is to "inspire the world and create the future" by leveraging three key strengths: new technology, innovative products and creative solutions. | Samsung | Wells Fargo | AT&T | Current Ratio | 1.4101 | 1.1500 | 1.6467 | Debt to Equity Ratio | 0.6768 | 9.8100 | 0.9675 | Profitability Ratio | 0.2881 | 2.3500 | 0.3069 | Return on Sales | 0.0736 | 2.0900 | 0.9563 | Dupont Ratio | 0.1200 | 0.6900 | 0.3496 | Financial Leverage | 1.1317 | 1.3500 | 1.0724 | Total Asset Turnover | 2.5035 | 0.0100 | 0.9003 | When you compare Samsung to AT&T, the retail sales company we profiled, Samsung has a lower current ratio by 20%. Samsung's debt to equity ratio is almost 30% lower than AT&T. Samsung's profitability ratio is very similar to AT&T, though 2% lower. Samsung's return on sales is comparable to AT&T, thought slightly lower. AT&T is much strong on return on equity, with almost 3X the Dupont ratio of Samsung. Samsung's financial leverage is slightly higher than AT&T. The key strength...
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...ACC 561 Accounting Week 1 to 6, Assignment, WilyPLUS, DQ, Final Purchase here http://homeworkonestop.com/ACC%20561/acc-561-accounting-week-1-to-6-assignment-wilyplus-dq-final Product Description ACC 561 Accounting WEEK 1 Individual Assignment, Financial Statement Review Paper Individual Assignment, Wileyplus BE1-7, BE1-8, BE1-9 Discussion Question 1 and 2 WEEK 2 Individual Assignment, Sarbanes-Oxley Act of 2002 Individual Assignment, Wileyplus E13-5, E13-6, E13-8, E13-9 Learning Team Summary Learning Team Reflection Discussion Question 1 and 2 WEEK 3 Individual Assignment, American Corporation Analysis Individual Assignment, Wileyplus BE15-5, E16-1, E17-9 Discussion Question 1 and 2 WEEK 4 Individual Assignment, WileyPLUS BYP17-2 Managerial Analysis Individual Assignment, Wileyplus BE18-1, BE18-7, BE18-11, E19-2 Learning Team Summary Learning Team Reflection Discussion Question 1 and 2 WEEK 5 Individual Assignment, Costing Methods paper Learning Team Assignment, CVP and Break-Even Analysis Paper Individual Assignment, Wileyplus E20-2, E20-5, BE21-4, E22-5 Learning Team Deliverable Discussion Question 1 and 2 WEEK 6 Individual Assignment, Wileyplus E23-1, E23-2 Learning Team Summary Learning Team Reflection ACC 561 Final Exam WileyPLUS (30 Q & A) ACC 561 Final Exam 2 (30 Q & A) ACC 561 Final Exam 3 (54 Q & A) ACC 561 Final Exam 4 (54 Q & A) ACC 561 Final Exam 5 (54 Q & A) ACC 561 Final Exam 6 (52 Q & A) ACC 561 Final Exam 7...
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...ACC 561 Accounting Week 1 to 6, Assignment, WilyPLUS, DQ, Final Purchase here http://homeworkonestop.com/ACC%20561/acc-561-accounting-week-1-to-6-assignment-wilyplus-dq-final Product Description ACC 561 Accounting WEEK 1 Individual Assignment, Financial Statement Review Paper Individual Assignment, Wileyplus BE1-7, BE1-8, BE1-9 Discussion Question 1 and 2 WEEK 2 Individual Assignment, Sarbanes-Oxley Act of 2002 Individual Assignment, Wileyplus E13-5, E13-6, E13-8, E13-9 Learning Team Summary Learning Team Reflection Discussion Question 1 and 2 WEEK 3 Individual Assignment, American Corporation Analysis Individual Assignment, Wileyplus BE15-5, E16-1, E17-9 Discussion Question 1 and 2 WEEK 4 Individual Assignment, WileyPLUS BYP17-2 Managerial Analysis Individual Assignment, Wileyplus BE18-1, BE18-7, BE18-11, E19-2 Learning Team Summary Learning Team Reflection Discussion Question 1 and 2 WEEK 5 Individual Assignment, Costing Methods paper Learning Team Assignment, CVP and Break-Even Analysis Paper Individual Assignment, Wileyplus E20-2, E20-5, BE21-4, E22-5 Learning Team Deliverable Discussion Question 1 and 2 WEEK 6 Individual Assignment, Wileyplus E23-1, E23-2 Learning Team Summary Learning Team Reflection ACC 561 Final Exam WileyPLUS (30 Q & A) ACC 561 Final Exam 2 (30 Q & A) ACC 561 Final Exam 3 (54 Q & A) ACC 561 Final Exam 4 (54 Q & A) ACC 561 Final Exam 5 (54 Q & A) ACC 561 Final Exam 6 (52 Q & A) ACC 561 Final Exam 7 (45...
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...states. • generally receives favorable tax treatment relative to a corporation. 2. Most business enterprises in the United States are • government units. • partnerships. • proprietorships and partnerships. • corporations. Want more details? Download now ACC 561 Week 1 Quiz 3. A business organized as a separate legal entity is • government unit. • partnership. • corporation. • proprietor. 4. Which of the following is the best definition of an internal user of accounting information? • Creditors like banks that use accounting information to evaluate the risk of lending money. • Managers who use accounting information to plan, organize, and run a business. • Labor unions who use accounting information to examine the ability of the company to pay increased wages and benefits. • Investors who use accounting information to decide whether to buy or sell stock. Want help? Click to download ACC 561 Week 2 Quiz 5. Which of the following groups uses accounting information primarily to insure the entity is operating within prescribed rules? • Labor Unions • Management • Taxing authorities • Regulatory agencies 6. Which of the following groups uses accounting information to determine whether the company can pay its obligations? • Chief Financial Officer • Creditors • Investors in common stock • Marketing managers Want help? Click to download ACC 561 Week 4 Quiz 7. Which of the following financial statements is divided into major categories...
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...costs. • provide information to stockholders for investment decisions. 2. The two basic types of cost accounting systems are • job order and process cost systems. • job order and batch systems. • process cost and batch systems. • job order and job accumulation systems. Quiz Answers just a click away ACC 561 Week 3 Quiz 3. A process cost system would most likely be used by a company that makes • breakfast cereal. • motion pictures. • college graduation announcements. • repairs to automobiles. 4. Which of the following would be accounted for using a job order cost system? • The refining of petroleum. • The production of automobiles. • The production of personal computers. • The construction of a new campus building. Quiz Answers just a click away ACC 561 Week 1 Quiz 5.The flow of costs in a job order cost system • measures product costs for a set time period. • generally follows a LIFO cost flow assumption. • involves accumulating manufacturing costs incurred and assigning the accumulated costs to work done. • cannot be measured until all jobs are complete. 6. The entry to record the acquisition of raw materials on account is • Raw Materials Inventory Accounts Payable • Work in Process Inventory Accounts Payable • Manufacturing Overhead Raw Materials Inventory Accounts Payable • Accounts Payable Raw Materials Inventory Want more details? Download now ACC 561 Week 5 Quiz 7. Time tickets should be approved by • the payroll department...
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...is a cost that • may or may not be incurred, depending on management's discretion. • occurs at various times during the year. • varies in total in proportion to changes in the level of activity. • varies per unit at every level of activity. 2. An increase in the level of activity will have the following effects on unit costs for variable and fixed costs: Unit Variable Cost Unit Fixed Cost • Increases Decreases • Remains constant Remains constant • Decreases Remains constant • Remains constant Decreases Want help? Click to download ACC 561 Week 4 Quiz 3. A fixed cost is a cost which • remains constant per unit with changes in the level of activity. • remains constant in total with changes in the level of activity. • varies inversely in total with changes in the level of activity. • varies in total with changes in the level of activity. 4. Hollis Industries produces flash drives for computers, which it sells for $20 each. Each flash drive costs $14 of variable costs to make. During April, 1,000 drives were sold. Fixed costs for March were $2 per unit for a total of $1,000 for the month. How much is the contribution margin ratio? • 80% • 20% • 30% • 70% Want more details? Download now ACC 561 Week 5 Quiz 5. Contribution margin • is calculated by subtracting total manufacturing costs per unit from sales revenue per unit. • equals sales revenue minus variable costs. • is always the same as gross profit margin. • excludes variable selling...
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...their paycheck. • They provide management with information about the company's past performance. • They help communicate goals and provide a basis for evaluation. • They guarantee the company will be profitable if it meets its objectives. 2. A common starting point in the budgeting process is • a clean slate, with no expectations. • expected future net income. • past performance. • to motivate the sales force. Want more details? Download now ACC 561 Week 5 Quiz 3. Which of the following statements about budget acceptance in an organization is true? • The most widely accepted budget by the organization is the one prepared by top management. • Budgets are hardly ever accepted by anyone except top management. • The most widely accepted budget by the organization is the one prepared by the department heads. • Budgets have a greater chance of acceptance if all levels of management have provided input into the budgeting process. 4. What is budgetary control? • The process of providing information on budget differences to lower level managers • Another name for a flexible budget • The degree to which the CFO controls the budget • The use of budgets in controlling operations Quiz Answers just a click away ACC 561 Week 1 Quiz 5. The comparison of differences between actual and planned results • is done by the external auditors. • appears on the company's external financial statements. • is usually done orally in departmental meetings. • appears on periodic...
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...A++PAPER;http://www.homeworkproviders.com/shop/acc-561-week-4/ ACC 561 WEEK 4 ACC 561 Week 4, Acc 561 Week 4 Managerial Analysis 2-Team Assignment Costing and Decision Making.xls 3-Variable and Absorption Costing Team A.xls MANAGERIAL ANALYSIS Ideal Manufacturing Company of Sycamore, Illinois, has supported a research and development (R&D) department that has for many years been the sole contributor to the company’s new farm machinery products. The R&D activity is an overhead cost center that provides services only to in-house manufacturing departments (four different product lines), all of which produce agricultural/farm/ranch related machinery products. The department has never sold its services outside, but because of its long history of success, larger manufacturers of agricultural products have approached Ideal to hire its R&D department for special projects. Because the costs of operating the R&D department have been spiraling uncontrollably, Ideal’s management is considering entertaining these outside approaches to absorb the increasing costs. But, (1) management doesn’t have any cost basis for charging R&D services to outsiders, and (2) it needs to gain control of its R&D costs. Management decides to implement an activity-based costing system in order to determine the charges for both outsiders and the in-house users of the department’s services. R&D activities fall into four pools with the following annual costs. Market analysis $1,050...
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...ACC 561 WEEK 4 A+ Graded Tutorial Available At: http://hwsoloutions.com/?product=week-4-2 Visit Our website: http://hwsoloutions.com/ Product Description ACC 561 Week 4, Bilici and Dalci (2008) state “the basic premise of ABC is products consume activities, activities consume resources and resources consume costs” (p. 63). The cost of a product comprises of direct labor, direct material, and overheads. Direct material and direct labor can be traced more easily to a particular product, but this is not the case for overheads, which is not easy to trace to a particular product when determining its product cost. Activity-based costing helps in allocating cost to the product according to the resources used by each activity (See Appendix A). The In-House Manufacturing Department The annual costs for R&D activities are broken up as follows: Market analysis $1,050,000 Product design $2,350,000 Product development $3,600,000 Prototype testing $1,400,000 R&D spends a total of $8,400,000. The cost drivers and their usage for the related activities: Activities Cost Drivers Total Estimated Drivers Market analysis Hours of analysis 15,000 hours Product design Number of designs 2,500 designs Product development Number of products 90 products Prototype testing Number of tests 500 tests When determining activities cost to the in-house manufacturing department, the cost per driver unit must be calculated (See Appendix B). The in-house manufacturing department...
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