Hrm 531 Week 1 Question Paper
Assignments From the Readings
Chapter 10 Questions
1. Georgia Lazenby believes a current liability is a debt that can be expected to be paid in one year. Is Georgia correct? Explain
Answer: Georgia is correct because a current liability is a debt that a business expects to pay from either within twelve months or the operating cycle or from an existing current asset or through the making of other current liabilities. It depends of which one is longer. (Kimmel, 2007)
7. (a) What are long-term liabilities? Give two examples. (b) What is a bond?
Answer: (a) Long-term liabilities are debt obligations that a business expects to pay after twelve months. Two examples of long-term liabilities is a 3-year …show more content…
(c) What is the effect of a stock dividend on a corporation’s stockholders’ equity accounts? Which would you rather receive as a stockholder—a cash dividend or a stock dividend? Why?
(a) The stakeholders in this situation are: the stockholder of Greenwood Corporation, Gil Mailor; the press of Greenwood Corporation, and Vicki Lemke; Greenwood Corporations financial vice president.
(b) It is not unethical for Gil Mailor to issue a stock dividend but it is unethical for Gil Mailor to try and get over on people by convincing stockholders that the stock dividend is just as good.
(c) The stock dividends can lower and raise the same in paid in capital. I would prefer cash for everything so I would prefer to get cash dividends because it will not raise nor lower the assets in the business.
Financial and Managerial Accounting: The Basis for Business Decisions Chapter 11 Question
Chapter 11: Internet 11-1. Answer the following …show more content…
If so, how many shares are currently outstanding?
(b) How much common stock does the company report in its most recent balance sheet? What is the par value of each?
(c) Does the company report any treasury stock? Has this amount changed since the previous year?
Answer: (a) Staples balance sheet for February 2, 2013 states $.01 par value, 5,000,000 shares authorized and no shares issued.
(b) Common stock, $.0006 par value; 2,100,000,000 shares authorized; issued and outstanding 932,246,614 and 669.182,785 shares at February 2, 2013 and 922,126,579 shares and 695,743,547 shares at January 28, 2012, respectively.
(c) Treasury stock at cost 263,063,829 shares at February 2, 2013 and 226,383,032 shares at January 28, 2012. There was an increase of 472,935 from the prior year. (Staples, 2013)
References
1. Kimmel, P.D. (2007). Financial accounting: Tools for business decision making (4th ed.). Hoboken, NJ: John Wiley & Sons.
2.Staples Balance Sheet. (2013). Retrieved from http://thomson.mobular.net/thomson/7/3359/4770/
3.Williams, J.R., Haka, S.F., & Bettner, M.S. (2005). Financial and managerial accounting: The basis for business decisions (13th ed.). New York, NY:
Chapter 10 Questions
1. Georgia Lazenby believes a current liability is a debt that can be expected to be paid in one year. Is Georgia correct? Explain
Answer: Georgia is correct because a current liability is a debt that a business expects to pay from either within twelve months or the operating cycle or from an existing current asset or through the making of other current liabilities. It depends of which one is longer. (Kimmel, 2007)
7. (a) What are long-term liabilities? Give two examples. (b) What is a bond?
Answer: (a) Long-term liabilities are debt obligations that a business expects to pay after twelve months. Two examples of long-term liabilities is a 3-year …show more content…
(c) What is the effect of a stock dividend on a corporation’s stockholders’ equity accounts? Which would you rather receive as a stockholder—a cash dividend or a stock dividend? Why?
(a) The stakeholders in this situation are: the stockholder of Greenwood Corporation, Gil Mailor; the press of Greenwood Corporation, and Vicki Lemke; Greenwood Corporations financial vice president.
(b) It is not unethical for Gil Mailor to issue a stock dividend but it is unethical for Gil Mailor to try and get over on people by convincing stockholders that the stock dividend is just as good.
(c) The stock dividends can lower and raise the same in paid in capital. I would prefer cash for everything so I would prefer to get cash dividends because it will not raise nor lower the assets in the business.
Financial and Managerial Accounting: The Basis for Business Decisions Chapter 11 Question
Chapter 11: Internet 11-1. Answer the following …show more content…
If so, how many shares are currently outstanding?
(b) How much common stock does the company report in its most recent balance sheet? What is the par value of each?
(c) Does the company report any treasury stock? Has this amount changed since the previous year?
Answer: (a) Staples balance sheet for February 2, 2013 states $.01 par value, 5,000,000 shares authorized and no shares issued.
(b) Common stock, $.0006 par value; 2,100,000,000 shares authorized; issued and outstanding 932,246,614 and 669.182,785 shares at February 2, 2013 and 922,126,579 shares and 695,743,547 shares at January 28, 2012, respectively.
(c) Treasury stock at cost 263,063,829 shares at February 2, 2013 and 226,383,032 shares at January 28, 2012. There was an increase of 472,935 from the prior year. (Staples, 2013)
References
1. Kimmel, P.D. (2007). Financial accounting: Tools for business decision making (4th ed.). Hoboken, NJ: John Wiley & Sons.
2.Staples Balance Sheet. (2013). Retrieved from http://thomson.mobular.net/thomson/7/3359/4770/
3.Williams, J.R., Haka, S.F., & Bettner, M.S. (2005). Financial and managerial accounting: The basis for business decisions (13th ed.). New York, NY: