1. he Baldwin Company has just purchased $40,900,000 of plant and equipment that has an estimated useful life of 15 years. The expected salvage value at the end of 15 years is $4,090,000. What will the accumulated depreciation expense for this purchase (exclude all other plant and equipment) be after its second year of use? (Use FASB GAAP) Select: 1[removed] [removed] $4,908,000 [removed] $2,454,000 [removed] $5,453,333 [removed] $2,726,667 2. The Chester Company has just issued $7,169,042 in dividends last year. The effect of this payment on the balance sheet is: Select: 1[removed] [removed] Liabilities will increase $7,169,042 [removed] Expenses will increase $7,169,042 [removed] Net Profit will decrease $7,169,042 [removed] Equity will decrease $7,169,042 3. What is the Quick Ratio of Chester? Select: 1[removed] [removed] 1.4% [removed] 0.5% [removed] 2.0% [removed] 2.1% 4. Chester has a ROS of 0.08 (ROS = Net income/Sales). That means: Select: 1[removed] [removed] There is a 8% profit on each dollar of sales. [removed] There are sales of $92 for every dollar of profit. [removed] For every $8 of sales there is a profit of 1%. [removed] There are sales of $8 for every dollar of profit. 5. Midyear on July 31st, the Digby Corporation’s balance sheet reported: Total Liabilities of $51.432 million Total Common Stock of $2.540 million Cash of $4.020 million Retained Earnings of $18.537 million. What were the Digby Corporation’s total assets? Select: 1[removed] [removed] $34.375 million [removed] $36.915 million [removed] $68.489 million [removed] $72.509 million 6. Which mission statement best represents the Digby company? Select: 1[removed] [removed] Innovation meets revolution. We create value for our customers through breakthrough designs that lead to unique high-performance products. [removed] Consistency and affordability are our goals. Our central mission is to offer dependable, low-price products that our customers can count on. [removed] Providing value to our customers is why we get up in the morning. We accomplish this by offering products at a low price our customers can afford across a wide variety of market segments. [removed] Lasting innovation is our motivation. We build premium products that are elegantly designed to meet the needs of a variety of market segments. 7. Review the Inquirer to determine Baldwin’s current strategy. How will they seek a competitive advantage? From the following list, select the top five sources of competitive advantage that Baldwin would be most likely to pursue. Select: 5[removed] [removed] Increase demand through TQM initiatives [removed] Seek high automation levels [removed] Seek high plant utilization, even if it risks occasional small stockouts [removed] Add additional products [removed] Reduce cost of goods through TQM initiatives [removed] Offer attractive credit terms [removed] Accept lower plant utilization and higher capacities to insure sufficient capacity is available to meet demand [removed] Seek excellent product designs, high awareness, and high accessibility [removed] Seek the lowest price in their target market while maintaining a competitive contribution margin [removed] Reduce labor costs through training and recruitment
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