Question & Answer

Identify some of the characteristic properties of composite materials.

Mission statement, strategy, balanced scorecard implementation Squeezers Juice and Tea Company manufactures organic juices and chai teas that are sold at whole foods stores. Several of its products have been featured in movies because the company’s products are popular with celebrities. The owners and employees value organic products and innovative combinations of juices and teas with outstanding taste. Several employees have found sources of unusual ingredients from organic farmers around the world. The ingredients are more expensive than those used by other juice manufacturers. Although Squeezers cannot set unrealistically high prices, it focuses on high quality. Demand for the company’s products is stable, even though it sets the highest prices for juices in its market. Recently, the costs of several unusual ingredients increased because of weather conditions. The owner is concerned that increasing prices any more could reduce demand. She has taken a business workshop and learned about the balanced scorecard. She wants to incorporate a balanced scorecard at Squeezers.   Required (a)     Draft a potential mission statement for Squeezers. Explain how you decided what should be included in the statement and how it should be worded. (b)     Explain the company’s business strategy and core competencies. (c)     Identify several performance objectives for each of the four perspectives. (d)     Select two performance objectives for each of the four perspectives, and identify a potential performance measure for each. Explain your choices. (e)     Describe possible methods to collect the data needed for each of the performance measures in part (d). For example, what existing information might be available? What new record-keeping might be required? Would the company need to develop surveys?

Assume Tamar uses the IRS method of allocating expenses to rental use of the property.

Explain five management competencies and the trend toward bosslessness in today’s world.

Using the Internet, find a comparison of income tax rates across states.  What state currently has the highest income tax rate?  In considering individual tax burdens across states, what other taxes should you consider?

Jim was injured in an accident and his surgeon botched the medical procedure. Jim recovered $5,000 from the doctor for pain and suffering and $2,000 for emotional distress. Determine the taxability of these payments and briefly explain to Jim the apparent rationale for including or excluding these payments from gross income.

Why are S corporations less favorable than C corporations and entities taxed as partnerships in terms of owner-related limitations?

For what reasons may governments want other governments to stick to tough climate or emissions targets and yet be not willing to so so themselves?

Identify three situations in which accounting measures are based on present values. Do these present value applications involve single sums or annuities, or both single sums and annuities? Explain.

1. What does this analysis assume about the price elasticity of demand for the new entrant (a) above PL; (b) below PL? 2. Can you think of any limitations with the limit price model?

On January 1, 2014, Harrington Company has the following defined benefit pension plan balances. Projected benefi t obligation $4,500,000 Fair value of plan assets 4,200,000 The interest (settlement) rate applicable to the plan is 10%. On January 1, 2015, the company amends its pension agreement so that prior service costs of $500,000 are created. Other data related to the pension plan are as follows. 2014 2015 Service cost $150,000 $180,000 Prior service cost amortization –0– 90,000 Contributions (funding) to the plan 240,000 285,000 Benefi ts paid 200,000 280,000 Actual return on plan assets 252,000 260,000 Expected rate of return on assets 6% 8% Instructions (a) Prepare a pension worksheet for the pension plan for 2014 and 2015. (b) For 2015, prepare the journal entry to record pension-related amounts.

Define cellular manufacturing.

Describe the circumstances in which an individual taxpayer with a net §1231 gain will have different portions of the gain taxed at different rates.

What types of losses may potentially be characterized as passive losses?

Samantha Cordelia, an intermediate accounting student, is having difficulty amortizing bond premiums and discounts using the effective-interest method. Furthermore, she cannot understand why GAAP requires that this method be used instead of the straight-line method. She has come to you with the following problem, looking for help. On June 30, 2014, Hobart Company issued $2,000,000 face value of 11%, 20-year bonds at $2,171,600, a yield of 10%. Hobart Company uses the effective-interest method to amortize bond premiums or discounts. The bonds pay semiannual interest on June 30 and December 31. Prepare an amortization schedule for four periods. Instructions Using the data above for illustrative purposes, write a short memo (1–1.5 pages double-spaced) to Samantha, explaining what the effective-interest method is, why it is preferable, and how it is computed. (Do not forget to include an amortization schedule, referring to it whenever necessary.)

How do the properties of thermosetting polymers differ from those of thermoplastics?

1.    In a study asking what people wanted from leaders versus followers, people ranked maturity number 8 for followers but number 15 for leaders. What might account for people wanting a higher maturity level from followers?

: Describe how ethical behavior relates to behavior governed by law or free choice.

What would the process of adjustment to the unanticipated size of the increase in aggregate demand look like if people had adjusted their inflationary expectation upwards from zero but to a rate less than p1?

What is viewed as a major criticism of GAAP as regards revenue recognition?

Muggsy Bogues Company purchased equipment for $212,000 on October 1, 2014. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $12,000. Estimated production is 40,000 units and estimated working hours are 20,000. During 2014, Bogues uses the equipment for 525 hours and the equipment produces 1,000 units. Instructions Compute depreciation expense under each of the following methods. Bogues is on a calendar-year basis ending December 31. (a) Straight-line method for 2014. (b) Activity method (units of output) for 2014. (c) Activity method (working hours) for 2014. (d) Sum-of-the-years’-digits method for 2016. (e) Double-declining-balance method for 2015.

: Describe functional, divisional, matrix, team, and virtual network approaches to structure

Deirdre sold 100 shares of stock to her brother, James, for $2,400. Deirdre purchased the stock several years ago for $3,000.  a. What gain or loss does Deirdre recognize on the sale? b. What amount of gain or loss does James recognize if he sells the stock for $3,200? c. What amount of gain or loss does James recognize if he sells the stock for $2,600? d. What amount of gain or loss does James recognize if he sells the stock for $2,000?

What is meant by the ‘steady-state economic growth path’? What determines its slope?

What is the technical difference between a screw and a bolt?