1. What information is provided in a balance sheet?
2 How is a common-size balance sheet created?
3 Discuss how marketable securities are valued on the balance sheet.
4 How can the allowance for doubtful accounts be used to assess earnings quality?
5 Why is the valuation of inventories important in financial reporting?
6 Why would a company switch to the LIFO method of inventory valuation in an inflationary period?
7 Which inventory valuation method, FIFO or LIFO, will generally produce an ending inventory value on the balance sheet that is closest to current cost?
8 Discuss the difference between the straight-line method of depreciation and the accelerated methods. Why do companies use different depreciation methods for tax reporting and financial reporting?
9 What is the purpose of listing the account “Commitments and contingencies” on the balance sheet even though no dollar amounts appear?
10 How is it possible for a company with positive retained earnings to be unable to pay a cash dividend?
11. The King Corporation has total annual revenue of $800,000; expenses other than depreciation of $350,000; depreciation expense of $200,000 for tax purposes; and depreciation expense of $130,000 for reporting purposes. The tax rate is 34%. Calculate net income for reporting purposes and for tax purposes. What is the deferred tax liability?
12 .Explain how treasury stock affects the stockholders’ equity section of the balance sheet and the calculation of earnings per share.
CHART FOR QUESTIONS 11 and 12
2013 2012
Net Sales $1,038,159 $996,168
Accounts receivable, net of allowances for doubtful accounts of $453 in 2013 and $669 in 2012 $ 176,917 $168,732
Schedule II—Valuation and Qualifying Accounts Years Ended December 31, 2013 and 2012
Balance at Beginning of Period Charged to Costs and Expenses Deductions Balance at End of Period
2013 Allowance for doubtful accounts $ 669 $373 $589 $ 453
2012 Allowance for doubtful accounts $1,560 $ 0 $891 $ 669
2011 Allowance for doubtful accounts $1,459 $343 $242 $1,560
Extracted from 10-K filings for Zebra Technologies 2013. Obtained from U.S. Securities and Exchange Commission. www.sec.gov.
Our Advantages
Plagiarism Free Papers
All our papers are original and written from scratch. We will email you a plagiarism report alongside your completed paper once done.
Free Revisions
All papers are submitted ahead of time. We do this to allow you time to point out any area you would need revision on, and help you for free.
Title-page
A title page preceeds all your paper content. Here, you put all your personal information and this we give out for free.
Bibliography
Without a reference/bibliography page, any academic paper is incomplete and doesnt qualify for grading. We also offer this for free.
Originality & Security
At Homework Sharks, we take confidentiality seriously and all your personal information is stored safely and do not share it with third parties for any reasons whatsoever. Our work is original and we send plagiarism reports alongside every paper.
24/7 Customer Support
Our agents are online 24/7. Feel free to contact us through email or talk to our live agents.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
Our Services
We work around the clock to see best customer experience.
Pricing
Our prces are pocket friendly and you can do partial payments. When that is not enough, we have a free enquiry service.
Communication
Admission help & Client-Writer Contact
When you need to elaborate something further to your writer, we provide that button.
Deadlines
Paper Submission
We take deadlines seriously and our papers are submitted ahead of time. We are happy to assist you in case of any adjustments needed.
Reviews
Customer Feedback
Your feedback, good or bad is of great concern to us and we take it very seriously. We are, therefore, constantly adjusting our policies to ensure best customer/writer experience.