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1. Strayer-University ACC 566 Complete
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ACC 556 WEEK 10 HOMEWORK CHAPTER 13
• Question 1
Comprehensive income includes all revenues, expenses, gains, losses, and dividends.
• Question 2
A primary purpose of vertical analysis is to observe trends over a three-year period.
• Question 3
In the vertical analysis of an income statement, each item is generally stated as a percentage of net
income.
• Question 4
Leverage and return on equity are closely related.

2. • Question 5
Because pro forma earnings are based on specific rules, these amounts are highly reliable.
• Question 6
Which of the following income statement figures would probably be the best indicator of a company’s
future performance?
• Question 7
The discontinued operations section of the income statement refers to
• Question 8
Patchett Company reported income before taxes of $800,000 and an extraordinary loss of $200,000.
Assume that the company’s tax rate is 25%. What amounts will be reported on the income statement
for income before irregular items and extraordinary items, respectively?
• Question 9
Comprehensive income would not include
• Question 10
All of the following statements are true regarding comprehensive income except

3. • Question 11
Horizontal analysis of comparative financial statements includes the
• Question 12
Assume the following cost of goods sold data for a company:
2015 $1,300,000
2014 1,200,000
2013 1,000,000
If 2013 is the base year, what is the percentage increase in cost of goods sold from 2013 to 2015?
• Question 13
The best way to study the relationship of the components within a financial statement is to prepare
• Question 14
The following schedule is a display of what type of analysis?
Amount Percent
Current assets $100,000 25%
Property, plant, and equipment 300,000 75%
Total assets $400,000 100%

4. • Question 15
Stockholders are most interested in evaluating
Somen to Park Corporation had net credit sales of $4,060,000 and cost of goods sold of $3,000,000
for the year. The Accounts Receivable balances at the beginning and end of the year were $650,000
and $750,000, respectively. The accounts receivable turnover was
• Question 17
BVI Corporation had net income of $1,600,000 and paid dividends to common stockholders of
$400,000 in 2014. The weighted average number of shares outstanding in 2014 was 500,000
shares. BVI Corporation's common stock is selling for $50 per share on the NASDAQ. BVI
Corporation's payout ratio for 2014 is
• Question 18
A successful grocery store would probably have
• Question 19
The following information pertains to Blue Flower Company. Assume that all balance sheet amounts
represent both average and ending balance figures. Assume that all sales were on credit.
Assets
Cash and short-term investments $ 45,000
Accounts receivable (net) 30,000
Inventory 15,000

5. Property, plant and equipment 210,000
Total Assets $300,000
Liabilities and Stockholders’ Equity
Current liabilities $ 60,000
Long-term liabilities 90,000
Stockholders’ equity—common 15,000
Total Liabilities and Stockholders’ Equity $300,000
Income Statement
Sales revenue $ 121,000
Cost of goods sold 66,000
Gross margin 55,000
Operating expenses 30,000
Net income $ 25,000
Number of shares of common stock 6,000
Market price of common stock $20
Dividends per share on common stock .50
Cash provided by operations $40,000
What is the current ratio for this company?
• Question 20
For each of the ratios listed below, indicate by the appropriate code letter, whether it is a liquidity
ratio, a profitability ratio, or a solvency ratio.
o

6. Question Selected Match
Price-earnings ratio A.
Profitability ratio
Return on assets A.
Profitability ratio
Accounts receivable turnover ratio B.
Liquidity ratio
Earnings per share C.
Solvency ratio
Payout ratio C.
Solvency ratio
Current cash debt coverage B.
Liquidity ratio
Current ratio B.
Liquidity ratio
Debt to assets ratio C.
Solvency ratio
Free cash flow C.
Solvency ratio
Inventory turnover B.
Liquidity ratio
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7. ACC 556 WEEK 11 DISCUSSION
"Sum It Up" Please respond to the following:
• Provide two (2) examples that demonstrate a change in your theories of financial accounting
for managers since the beginning of this course.
• Rate the three (3) most important concepts that you have learned in this course in order of
importance (one [1] being the most important; three [3], the least). Provide a rationale for your rating
scheme.
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ACC 566 WEEK 10 ASSIGNMENT
Students, please view the "Submit a Clickable Rubric Assignment" in the Student Center.
Instructors, training on how to grade is within the Instructor Center.
Assignment 2: Budget Planning and Control
Due Week 10 and worth 160 points
Use the Internet and / or Strayer databases to research budget planning and control. Imagine that
the company that you currently work for, have previously worked for, or would like to work for in the
future has tasked you with preparing a budget plan.
Write a three to four (3-4) page paper in which you:
1. Describe the company that you currently work for, have previously worked for, or would like
to work for in the future. Determine at least two (2) compelling reasons that this company should
prepare and manage a budget. Predict the two (2) most likely positive and negative financial
outcomes for this company if it properly or improperly performs effective budgeting.
2. Outline a high-level budget plan for the company. In your high-level budget plan, recommend
the most appropriate budgeting phases for the company.
3. Propose two (2) methods and techniques that the company should use to manage its budget
over time in preparation for the fact that budgets are ever changing. Justify your response.

8. 4. Imagine that the company is facing a financial challenge that is causing the actual amounts
of money that it spends to become significantly off target from its budgeted amounts. Prepare an
action plan to resolve the budget misalignment. In your action plan, recommend at least one (1)
budgeting technique to resolve the budget and actual discrepancies. Provide a rationale for your
response.
5. Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and
other Websites do not quality as academic resources.
Your assignment must follow these formatting requirements:
• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on
all sides; references must follow APA or school-specific format. Check with your professor for any
additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the
professor’s name, the course title, and the date. The cover page and the reference page are not
included in the required page length.
The specific course learning outcomes associated with this assignment are:
• Evaluate management control systems and examine their relationship with accounting and
planning, including feedback and non-financial performance measurements.
• Evaluate decision making tools for capital investments, budgeting, and budgeting controls.
• Analyze financial accounting tools and techniques that convert financial accounting data into
information for decision making.
• Use technology and information resources to research issues in financial accounting for
managers.
• Write clearly and concisely about financial accounting using proper writing mechanics.
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