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# Financial AcctMangerl Dec ACCT 301

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This 21 page Class Notes was uploaded by Grayce Sawayn on Monday September 28, 2015. The Class Notes belongs to ACCT 301 at George Mason University taught by Syed Hasan in Fall. Since its upload, it has received 31 views. For similar materials see /class/215213/acct-301-george-mason-university in Accounting at George Mason University.

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Date Created: 09/28/15

FNAN 301 Solutions to extra problems 7 capital budgeting criteria SOLUTIONS 1 A project has an initial cost of 43000 and produces cash in ows of 14000 23000 30000 over the next three years respectively What is the payback period if the required rate of return is 15 percent The required rate of return is not relevant Payback occurs between 2 and 3 years After 2 years 6000 in cash flows are needed In year 3 the expected cash ow is 30000 Assume cash ows occur uniformly throughout the year Therefore it would take 6000 30000 020 of year 3 to reach payback So payback 2 020 220 years 2 A project has an initial cost of 33000 and produces cash in ows of 10000 23000 30000 over the next three years respectively What is the discounted payback period if the rate of return is 15 115 Discounted payback occurs between 2 and 3 years After 2 years 691305 in discounted cash ows are needed In year 3 the expected discounted cash ow is 1972549 Assume discounted cash ows occur uniformly throughout the year Therefore it would take 691305 1972549 035 of year 3 to reach discounted payback So discounted payback 2 035 235 years FNAN 301 Solutions to extra problems 7 capital budgeting criteria 3 You are two with the following cash ows ear 0 1 a What is the NPV of each project if the cost of capital is 8 b What is the NPV of each project ifthe cost of capital is 15 c What is the IRR of each project a With an 8 percent discount rate NPVA 50000 40000 108 20000 1082 30000 1083 15000 1084 39024 NPVB 75000 30000 108 40000 1082 50000 1083 20000 1084 41464 Project A npv8 5000040000200003000015000 9 39024 Project B npv8 7500030000400005000020000 9 41464 b With a 15 percent discount rate NPVA 50000 40000 115 20000 1152 30000 1153 15000 1154 28207 NPVB 75000 30000 115 40000 1152 50000 1153 20000 1154 25644 Project A npv15 5000040000200003000015000 9 28207 Project B npv15 7500030000400005000020000 9 25644 c IRR Project A 0 50000 400001IRR 200001IRR2 300001IRR3 150001IRR4 irr 5000040000200003000015000 9 4554 s0 IRR 4554 Project B 0 75000 300001IRR 400001IRR2 500001IRR3 200001IRR4 irr 7500030000400005000020000 9 3119 s0 IRR 3119 FNAN 301 Solutions to extra problems 7 capital budgeting criteria 4 The following table presents information on 5 potential projects with conventional cash ows currently being evaluated by a mediumsize clothing retailer Cash ows are in terms of millions of dollars and the discount rate is the opportunity cost of capital 0 100 100 200 a What is the NPV of each project and which projects should be chosen based on NPV In millions NPVA 100 15 107 901072 0 1073 25 1074 1170 NPVB 100 61 108 61 1082 0 1083 0 1084 878 NPVC 200 230 106 0 1062 0 1063 0 1064 1698 NPVD 200 60 109 60 1092 60 1093 60 1094 562 NPVE 200 0 110 130 1102 130 1103 0 1104 511 In millions Project A npv7 1001590025 9 1170 Project B npv8 100616100 9 878 Project C npv6 200230000 9 1698 Project D npv9 20060606060 9 562 Project E npv10 20001301300 9 511 Projects A B C and E should be accepted because they have positive N PV b How much value would be created by selecting the projects chosen in part a The amount of value that would be created is the sum of the chosen projects NPVs 1170 878 1698 511 4257 in millions Note that the most value that can be created would occur when managers choose all projects with positive NPV Therefore the maximum amount of value that can be created by the firm would be 4257 million Any combination of projects other than A B C and E would result in less value being created FNAN 301 Solutions to extra problems 7 capital budgeting criteria 4 Continued 0 What is the IRR of each project and which projects should be chosen based on IRR exceeding the cost of capital Project A irr 1001590025 9 1253 percent gt 7 percent so accept project Project B irr 100616100 9 1435 percent gt 8 percent so accept project Project C irr 200230000 9 1500 percent gt 6 percent so accept project Project D irr 20060606060 9 771 percent lt 9 percent so reject project Project E irr 20001301300 9 1113 percent gt 10 percent so accept project Projects A B C and E should be accepted because they have IRR gt their cost of capital Note that all of the projects have conventional cash ows so IRR agrees with NPV The projects that are accepted with NPV are accepted with IRR and the projects that are rejected by NPV are rejected by IRR d How much value would be created by selecting the projects chosen in part c The amount of value that would be created is the sum of the of the chosen projects NPVs 1170 878 1698 511 4257 in millions e What is the payback period of each project and which projects should be chosen if the payback threshold is 2 years Assume cash ows occur uniformly throughout the year A 85 90 5 Payback occurs between 1 and 2 years After 1 year 85 million in cash ows are needed In year 2 the expected cash ow is 90 million Therefore it would take 85m 90m 094 of year 2 to reach payback So payback 1 094 194 years FNAN 301 Solutions to extra problems 7 capital budgeting criteria 4 Continued e Continued 100 61 39 4 0 Payback occurs between 1 and 2 years After 1 year 39 million in cash ows are needed In year 2 the expected cash ow is 61 million Therefore it would take 39m 61m 064 of year 2 to reach payback So payback 1 064 164 years C Payback occurs between 0 and 1 year After 0 years 200 million in cash ows are needed In year 1 the expected cash ow is 230 million which is more than 200 million Therefore it would take 200m 230m 087 of year 1 to reach payback So payback 0 0887 087 years CF needed after end 200 3 60 80 6020 Payback occurs between 3 and 4 years After 3 years 20 million in cash ows are needed In year 4 the expected cash ow is 60 million Therefore it would take 20m 60m 033 of year 4 to reach payback So payback 3 033 333 years FNAN 301 Solutions to extra problems 7 capital budgeting criteria 4 Continued e Continued 200 0 200 4 0 Payback occurs between 2 and 3 years After 2 years 70 million in cash ows are needed In year 3 the expected cash ow is 130 million Therefore it would take 70m 130m 054 of year 3 to reach payback So payback 2 054 254 years Projects A B and C should be accepted because they have payback S 2 years Note that project E which has a positive NPV is rejected with the payback method The payback method can lead to positive NPV projects being rejected Moreover the payback method can also lead to negative NPV projects being accepted f How much value would be created by selecting the projects chosen in part e The amount of value that would be created is the sum of the of the chosen projects NPVs 1170 878 1698 3746 in millions g What is the discounted payback period of each project and which projects should be chosen if the discounted payback threshold is 2 years Assume discounted cash ows occur uniformly throughout the year However discount cash flows as if they occur at end of year Also discounted cash ows are rounded to one decimal place for simplicity and convenience 100 100 15 107 140 100 140 860 4 25 25 191 74 191 117 Discounted payback occurs between 3 and 4 years After 3 years 74 million in discounted cash ows are needed In year 4 the expected discounted cash ow is 191 million Therefore it would take 74m 191m 039 of year 4 to reach discounted payback So discounted payback 3 039 339 years FNAN 301 Solutions to extra problems 7 capital budgeting criteria 4 Continued g Continued Year CF DCF needed after end 0 100 3 0 0 74 074 Discounted payback occurs between 1 and 2 years After 1 year 435 million in discounted cash ows are needed In year 2 the expected discounted cash ow is 523 million Therefore it would take 435m 523m 083 of year 2 to reach discounted payback So discounted payback 1 083 183 years 230 106 2170 200 2170 170 4 0 0 0 Discounted payback occurs between 0 and 1 year After 0 years 200 million in discounted cash ows are needed In year 1 the expected discounted cash ow is 2170 million Therefore it would take 200m 2170m 092 of year 1 to reach discounted payback So discounted payback 0 092 092 years D 1450 505 945 Discounted payback never occurs After 4 years when the project is over 57 million in discounted cash ows are still needed to reach discounted payback FNAN 301 Solutions to extra problems 7 capital budgeting criteria 4 Continued g Continued 0 110 00 200 002000 4 0 0 0 Discounted payback occurs between 2 and 3 years After 2 years 926 million in discounted cash ows are needed In year 3 the expected discounted cash ow is 977 million Therefore it would take 926m 977m 095 of year 3 to reach discounted payback So discounted payback 2 095 295 years Projects B and C should be accepted because they have discounted payback S 2 years Note that projects A and E which have positive NPVs are rejected with the discounted payback method The discounted payback method can lead to positive NPV projects being rejected However unlike the payback method the discounted payback method can not lead to negative NPV projects being accepted h How much value would be created by selecting the projects chosen in part g The amount of value that would be created is the sum of the of the chosen projects NPVs 878 1698 2576 in millions i Which project is the riskiest Project E is the riskiest project It has the highest cost of capital which is the only relevant piece of information for answering this question Note that project C is the least risky as it has the low est cost of capital FNAN 301 Solutions to extra problems 7 capital budgeting criteria 5 Villanova Corporation accepts projects that have a payback period of 23 years or less It is currently looking at an opportunity with conventional cash ows that would last for 3 years The project would require an initial investment of 50000 produce cash ows of 18000 in the rst year and produce 26000 in the second year What is the lowest amount of cash ows that could be produced in the third year for this project to be accepted The lowest amount of cash flows that can be produced in the third year that results in a payback period of23 years or less is the cash flow that leads to payback of23 years All smaller cash flows would lead to the payback period being greater than 23 years so the project would not be accepted All larger cash flows would lead to the payback period being less than 23 years so the project would be accepted but there would be a lower cash flow for which the project would still be accepted After 2 years the project is expected to produce 18000 26000 44000 in cumulative cash flows The investment is 50000 so the project would still need to produce cash flows of 50000 44000 6000 for payback To just satisfy the payback threshold of23 years payback must occur at 03 of year 3 Therefore 03 6000 cash flow in year 3 So cash flow in year 3 6000 03 20000 The lowest amount of cash that could be produced in the third year for this project to be accepted is 20000 More than 20000 and payback would happen before 23 years and less than 20000 and payback would take place after 23 years FNAN 301 Solutions to extra problems 7 capital budgeting criteria 6 Creighton Corporation accepts projects that have a discounted payback period of 25 years or less It is currently looking at an opportunity with conventional cash ows that would last for 3 years and have a discount rate of 9 percent The project would require an initial investment of 50000 produce cash ows of 18000 in the rst year and produce 26000 in the second year What is the lowest amount of cash ows that could be produced in the third year for this project to be accepted The lowest amount of cash flows that can be produced in the third year that results in a discounted payback period of 25 years or less is the cash flow that leads to discounted payback of25 years All smaller cash flows would lead to the discounted payback period being greater than 25 years so the project would not be accepted All larger cash flows would lead to the discounted payback period being less than 25 years so the project would be accepted but there would be a lower cash flow for which the project would still be accepted After 2 years the project is expected to produce cumulative discounted cash flows of 18000 109 26000 1092 3839744 The investment is 50000 so the project would still need to produce discounted cash flows of 50000 3839744 1160256 for discounted payback To just satisfy the discounted payback threshold of 25 years discounted payback must occur at 05 of year 3 Therefore 05 1160256 discounted cash flow in year 3 So discounted cash flow in year 3 1160256 05 2320512 Recall that 2320512 is the discounted cash flow in year 3 needed for discounted payback to be 25 years and we want to find the cash flow in year 3 needed for discounted payback to be 25 years So 2320512 the actual cash flow in year 3 1093 So the actual cash flow in year 3 2320512 X 1093 3005130 The lowest amount of cash that could be produced in the third year for this project to be accepted is 3005130 More than 3005130 and discounted payback would happen before 25 years and less than 3005130 and discounted payback would take place after 25 years FNAN 301 Solutions to extra problems 7 capital budgeting criteria 7 Gonzaga Corporation is currently looking at an opportunity with conventional cash ows that would last for 3 years and have a discount rate of 10 percent The project would require an initial investment of 50000 produce cash ows of 18000 in the first year and produce 26000 in the second year What cash ow would need to be produced in the third year for this project to destroy 287378 in value Ifthe project destroys 287378 in value then it has an NPV of 287378 NPV 287378 50000 18000 110 260001102 CF3 1103 S0 CF3 1103 287378 50000 18000 110 26000 1102 S0 CF3 1103 x 287378 50000 18000 110 26000 1102 12345 The cash flow in the third year ofthe project would need to be 12345 in order for this project to destroy 287378 in value 8 Morehead Corporation is currently looking at an opportunity with conventional cash ows that would last for 3 years and have a discount rate of 11 percent The project would require an initial investment of 50000 produce cash ows of 18000 in the first year and produce 26000 in the second year What cash ow would need to be produced in the third year for this project to have no effect on value Ifthe project has no effect on value then it has an NPV of0 NPV 0 50000 18000111 260001112 CF31113 0 S0 CF3 1113 50000 18000 111 26000 1112 S0 CF3 1113 gtlt 50000 18000111 260001112 1734375 The cash flow in the third year ofthe project would need to be 1734375 in order for this project to have no effect on value FNAN 301 Solutions to extra problems 7 capital budgeting criteria 9 The following table presents information on 9 potential projects with conventional cash ows currently being evaluated by Blue Turtle Inc Cash ows are in terms of millions of dollars and the discount rate is the opportunity cost of capital NPV is the net present value in millions of dollars IRR is the internal rate of return PB is the payback period in terms of years and DPB is discounted payback period in terms of years None of the projects are mutually exclusive Empty cells contain unrevealed values that may be needed to answer questions not necessarily zeroes Discount 504 9 82 a How much value would be created in total by selecting all projects with a payback period of 260 years or less We know that projects A B D F H and I have payback gt 260 We know that projects C and G have payback lt 260 We don t know the payback of project E For project E the cumulative cash ow after 3 years is 0 130 125 255 so payback is definitely less than 3 years and could possibly be less than or equal to 26 years so we should gure out what it is Investment 200 After 1 year 200 0 200 is needed for payback After 2 years 200 130 70 is needed for payback In year 3 the cash flow is 125 so payback 2 70125 256 years lt 260 years Projects E C and G have paybacks of 260 years or less The amount of value created is the sum of the chosen projects NPVs NPVC 1091 NPVE 2065 NPVG 200 90 117 180 1172 842 Project G npv17 20090180 842 NPVC NPVE NPVG 1091 2065 842 3998 in millions 12 FNAN 301 Solutions to extra problems 7 capital budgeting criteria 9 Continued b Suppose Blue Turtle accepts projects that have a discounted payback period of 353 years or less What is the lowest amount of cash ows that could be produced in the fourth year for project Ato be accepted Find the cash ows such that the discounted payback ofproject A is 3 53 yars The initial investment is 100 After 3 years the project is expected to have cumulated discounted cash ows of 33 107 331072 33 1073 8660 In the fourth year 100 8660 1340 million in discounted cash ows are needed If cash ows take place through 053 of the year then 053 1340 total DCF in year 4 So total DCF in year 4 1340 053 25283 Ifthe DCF in year 4 25283 then 25283 CF4 1074 So CF4 25283 x 1074 3314 million The lowest amount of cash that could be produced in the fourth year for this project to be accepted is 3314 million More than 3314 million and discounted payback would happen before 353 years and less than 3314 million and discounted payback would take place after 353 years 0 Which of the projects is the riskiest The riskiest project is the one with the highest opportunity cost of capital That is project G Remember the opportunity cost of capital is synonymous with cost of capital and appropriate discount rate Note that the least risky projects are project E and project H because they have the lowest costs of capital They have the same cost of capital so they are equally risky FNAN 301 Solutions to extra problems 7 capital budgeting criteria 10 The following table presents information on the expected cash ows of 12 potential projects being evaluated by Mulligan Golf Supplies For which if any of the potential projects should the internal rate of return IRR rule not be used to identify projects that would create value for the firm because selecting projects where IR is greater than the cost of capital may not necessarily lead to the selection of a positive NPV project This asks about the appropriateness of using the IRR rule It is not For projects with conventional cash flows IRR rule consistently leads to decisions that create value ifinputs are accurate and produces the same results as NPV rule for these types of projects A project with conventional cash flows involves an initial negative investment related cash flow C lt 0 and subsequent non negative project related cash flows C1 2 0 C2 2 0 Cl 2 0 that can continue for a nite or in nite length oftime The IR rule does not consistently lead to decisions that create value if cash flows are not conventional Two important cases occur with 1 Positive cash flow or flows then negative cash flow or flows 2 Cash flows that flip sign more than once IR is appropriate for projects with conventional cash flows The following projects have conventional cash flows B C D I J and K Note that IR is an appropriate approach for B and C even though the projects almost surely would have a negative NPV Note that IRR is an appropriate approach for D and K even though the projects almost surely would have a large positive NPV Note that IR is an appropriate approach for J even though the project has some cash flows of zero after time 0 IR would not be appropriate for projects A and L because they have a positive cash ow or cash ows followed by a negative cash ow or cash ows IRR would not be appropriate for projects E F G and H because they have cash ows that ip sign more than once All have a negative cash ow at time 0 followed by one or more nonnegative cash ows but then have at least one negative cash ow 14 FNAN 301 Solutions to extra problems 7 capital budgeting criteria 11 Wolfpack Technologies is considering a project that is expected to produce net income of 140000 in the rst year 300000 in the second year and 50000 in the third and nal year The assets associated with the project are expected to average 800000 a What is the average accounting return of the project b Should Wolfpack accept the project if the average accounting return threshold is 20 a AAR average net income average book value of assets Average net income 140000 300000 50000 3 130000 Average book value of assets 800000 AAR 130000 800000 1625 1625 b Since AAR 1625lt 20 threshold Wolfpack should not accept the project 12 Durham Industries is considering a project that is expected to produce net income of 140000 in the rst year and 300000 in the second year The assets associated with the project are expected to average 800000 The project is expected to last for three years What is the smallest level of net income that must be earned in the third year such that Durham would accept the project if it applies the average accounting return rule and uses a threshold of 20 To solve 1Find the avaage net income needed to produce an AAR of20 This is the smallest average income that would enable Durham to accept the project A greater average net income than the one that produces an AAR of20 would lead to the project being accepted but it would not be the lowest pomible amount consistent with acceptance A lower average net income than the one that produces an AAR of20 would lead to the project being rejected 2 Find the net income needed in year 3 to produce the average net income needed to produce an AAR of 20 1 AAR average net income average book value of assets So 20 average net income 800000 So average net income 20 X 800000 160000 If the average net income for the project is 160000 then AAR 20 2 Average net income 140000 300000 expected net income in year 3 3 160000 So 140000 300000 expected net income in year 3 3 X 160000 480000 So expected net income in year 3 480000 140000 300000 40000 The smallest level of net income that must be earned in the third year such that Durham would accept the project if it applies the average accounting return rule and uses a threshold of 20 is 40000 G E 0 RG E School of Management V u N I v E R s I T ACCT 301007 Financial Accnunting F lVIanngrial Decisinnrlvlaking Syllabus Fall 2008 Class Time W 71071000 PM Class Lueatiun F B108 office Enterprise Hall Rnnm 111 Olliee Hnllrs TR 1304 PM and by Cuuise PneRegu es ACCT 203 oi equivalent Text and Reguiieil DLaterials Finaneial Aeeounung Libby Libby amp Sboit o39hEdition MCGraw Hill 2009 s Homewoi Managei oftware Subscnpuonfrom MCGraerlll Seantion Form 882 bu se Website Go to bttp blackboard gmu edu Cuuise Deseiigu39on t t m quott deeisions forthe inn llnilerggailuate Prngam L ning Tbe SOM undeigiaduate program leain ng goals are Oui students Will be effeeuve eommunieatois tuden have an inteidiseiplinary peispeetive Oui students Will be knowledgeable about global business andtiade Oui students Will ieeogiize tbe impoitanee of etliieal deeisions Oui students Will be knowledgeable about the legal envuonment of business qmmwaE I o E Pagelaf7 l 8 Our students will be knowledgeable about team dynamics and the characteristics of effective teams Our students will understand the value of diversity and the importance of managing diversity in the context of business 10 Our students will be critical thinkers 0 Course Objectives ACCT 301 students will be competent in their discipline More speci cally they will be able to 0 Apply Generally Accepted Accounting Principles GAAP to analyze business transactions record them through general journal entries adjusting entries and closing entries Gain an understanding of the environment in which a business operates and the role of the accountant and other stakeholders Develop the skill of communicating nancial information to users through the preparation of financial statements in accordance with GAAP Gain an understanding of the importance of ethics for accountants and the need for compliance with regulatory standards Develop the skill to select the appropriate accounting method that should be used under various scenarios Record economic transactions using doubleentry bookkeeping Construct basic financial statements Use fundamental accounting principles for revenue and receivables cost of sales and inventory fixed assets time value of money short and longterm liabilities stockholders equity and marketable securities Approach to Learning The course utilizes a mixture of lecture class discussions and projects Students are expected to read the assigned chapters in advance of class Student participation in class discussions is strongly encouraged and expected Student Responsibilities You are expected to attend all classes and to participate fully Reading and homework assignments are expected to be completed before coming to class You are responsible for any material covered during an absence even if it was supplementary material and not in the textbook When a class is canceled due to inclement weather scheduled assignments or tests are rescheduled for the next time the class meets Course materials used in class will be posted in Blackboard Students are required to regularly check the course website for updates Please note that I will not provide hard copies of course documents in class Gradin Letter grades will be assigned based on total points earned by students completing all course requirements as follows I Item I Points I Exam 1 100 Page 2 of 7 2 Exam 2 Exam 3 Homework The nal grade will be based on the following scale The instructor may curve the nal grades or give plusses and minuses depending on the performance and participation of the class as a whole Grade Earned 90 100 80 7 89 360 404 70 7 79 60 7 69 Below 60 Exams Exam 1 and 2 will be given in class on the days speci ed in the class schedule and will consists of short answers or objective questions and computational problems The common cumulative nal exam will be given on Saturday December 13m You must present your student identi cation card at each examination Students without identi cation cards are not allowed to take the examination You must have a 2 pencil You must bring a Scantron Form 882E green answer sheet to each exam You may use a basic nonprogrammable calculator if you wish Students found using a programmabletext entry calculator this includes graphics calculators will be in violation of the honor code and will receive a Zero Exam Material Failure to return the exam to the instructor both after it is completed and after its distribution in class is considered an act of academic dishonesty and a violation of the Honor Code Failure to return the exam will result in a grade of zero being awarded for the exam and the student being reported to the Honor Code Committee Makeup Exams You are expected to be present for all examinations If a last minute emergency arises that will prevent you from taking the exam you must get in touch with me as soon as possible before the start of the exam either by email preferred or phone and provide documentation at the appropriate time for missing the exam Any student who is excused from one midterm exam you can be excused for one midterm exam only will have to complete a comprehensive makeup exam for all material covered in Exams 1 and 2 This makeup will be on Friday November 21 at 1030 AM Room to be announced Page 3 of 7 3 Homework Manager Assignments Homework problems are required and must be done in the Homework Manager They will be automatically graded and entered in the grade book There are 11 assignments that consist of 60 problems 1 point each The maximum total points that will be assigned for homework in calculating the nal grade is 50 You may accumulate as many points as you wish up to 60 but a maximum of 50 points will be used in computing your nal grade The due date for all Required Homework is shown in the schedule Honor Code Statement You are expected to understand and follow the Honor Code of the GMU University Catalogue The hallmarks of the accounting profession are integrity objectivity and independence Cheating in this class will result in a failing grade being reported to the Honor Code Committee and being prevented from graduating or possible expulsion from the school Students with Disabilities Ifyou have a diagnosed learning disorder or disability and need academic accommodations please contact the Disability Resource Center DRC at 7039932474 All academic accommodations must be arranged through the DRC Withdrawal The last day to drop is September 26 Course Schedule The schedule for the course is given below Please note that this schedule may be changed at the discretion of the instructor during the term Week Date Topics HW Required 1 827 Introduction Ch 1 Financial Statements and business Decisions 2 93 Ch 2 Investing and Financing Assignment 1 Decisions and the Balance Sheet Due E 11 2 310 l 3 910 Ch 3 Operating Decisions and the Assignment 2 Income Statement Due M 28 E 2 5 6 7 l4 4 917 Ch 4 Adjustments Financial Assignment 3 Statements Quality of earnings Due Ch 5 CommunicatingInterpreting M 32 6 Financial Information Pages 231252 E 33 4 P 32 5 924 Exam 1 Assignment 4 Due Page 4 of 7 4 E 43 6 14 P 49 6 101 Ch 13 Statement of Cash Flow 7 108 Ch 6 Sales Revenue Receivables and Assignment 5 Cash Due E 132 7 8 16 P 132 8 1015 Ch 7 Cost of Goods Sold and Assignment 6 Inventory Due M 65 E 63 7 18 24 9 1022 Ch 8 Plant Property and equipment Assignment 7 Due M 74 E 75 91119 P 71 10 1029 Exam 2 Assignment 8 Due M 85 8 E 88 13 20 11 115 Ch 9 Reporting and Interpreting Liabilities Ch 10 Reporting and Interpreting Bonds 12 1112 Ch 10 Continued Assignment 9 Due M 91 2 E 915 21 22 13 1119 Ch 11 Reporting and Interpreting Assignment 10 owner s equity Due E 10 4 7 916 17 1126 Thanksgiving Recess No Class Assignment 11 Due E 113 14 16 P 111 6 14 123 Ch 12 Reporting investments in Other Assignment 12 Corporations Due M 121 E 123 4 5 6 15 12 13 Final Exam Saturday December 13 1030 AM to 115 PM Room to be announced Page 5 of 7 Appendix 1 Homework Manager Login Instructions HASAN ACCT 301007 HOMEWORK MANAGER FALL 2008 Homework Manager Class Web Site The class web site for the Homework Manager is mpmh6brownstonenetclassesAcct301Sec007 Student Code Your code for accessing the site is on the Homework Manager Subscription that you purchased from the bookstore 20digit The code is casesensitive as such please enter in the upper case To Crease a Student Account 1 Click on the Register forthe class link on the student menu found on the home page 2 Enterthe 20digit code in the boxes on the Student Registration Page and then click Next 3 Fill out the register form that appears and then click OK button 4 Click the Yes button to confirm your account Important Tips 0 You can only do one thing at a time You cannot view past results while you are in the process of taking an assignment You cannot take two graded assignments at the same time c When trying to print an assignment use the browser s Print Preview and Page Setup Options to get the best output possible You should switch from portrait to landscape and extend the margins as far as possible 0 Use the Nest Back Jump To and Save my Work buttons periodically to save and avoid timing out lfthere is no activity within 60 minutes Homework Manager will automatically log out your session 0 Click Quit and Save if you wish to work on your assignment at a later time without grading Remember you can only work on one open ungraded assignment at a time 0 Do not copy and paste as this might enter illegal characters in your homework and prevent you from getting a grade Technical Support If you are having difficulty accessing the web site or are encountering other technical dif culties please email McGrawHill Technical support directly at be supportmcfraw hicom Page 6 of 7 6

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