Saint Leo MBA 101 assignments
Module 2
Problem 3-24
Problem 4-22
Module 3
Problem 5-33
Problem 6-25
Module 4
Problem 2. The Jiffy Manufacturing Company started operations in 2012
when it acquired $100,000 from its owners. During the year, the company
incurred the following costs:
The company placed 12,000 units
into production, completed 10,000 units, and sold 8,000 units. The average
selling price was $17 per unit.
Required:
1) Prepare a schedule of cost of goods manufactured and sold for the year ended
December 31, 2012.
2) Prepare an income statement for the year ended December 31, 2012.
Problem 2. Allen Corporation was organized on July 15, 2012. It was
authorized to issue 150,000 shares of $25 par value common stock and 50,000
shares of 6% cumulative preferred stock. The preferred stock had a stated value
of $50 per share. The following stock transactions relate to Allen Corporation.
·
Issued 55,000 shares
of common stock for $33 per share.
·
Issued 2,750 shares of
the class A preferred stock for $62 per share.
·
Issued 27,500 shares
of common stock for $35 per share.
Required:
1) Indicate the effect of each of these transactions on Allen’s financial
statements. Include dollar amounts in the model, below. After recording the
three transactions, calculate column totals.
2) After these transactions have been recorded, what is the total amount of
stockholders’ equity?
3) After these transactions have been recorded, how many shares of common stock
are outstanding?
Module 5
Problem 1. The following information applies to Barnhart Company:
Additional information:
- Net Credit Sales = $220,000
- Beginning Accounts Receivable = $10,000
Problem 2. The Jiffy Manufacturing Company started operations in 2012
when it acquired $100,000 from its owners. During the year, the company
incurred the following costs:
The company placed 12,000 units
into production, completed 10,000 units, and sold 8,000 units. The average
selling price was $17 per unit.
Required:
1) Prepare a schedule of cost of goods manufactured and sold for the year ended
December 31, 2012.
2) Prepare an income statement for the year ended December 31, 2012.
Module 8
Exercise 15-3
Exercise 16-5
