Courtney Meehan has trouble keeping her debits and credits equal. During a recent month, Courtney made the following accounting errors: a. In preparing the trial balance, Courtney omitted a $5,000 Notes Payable. The debit to Cash was correct. b. Courtney posted a $1,000 Utilities Expense as $100. The credit to Cash was correct. c. In recording a $600 payment on account, Courtney debited Furniture instead of Accounts Payable. d. In journalizing a receipt of cash for service revenue, Courtney debited Cash for$50 instead of the correct amount of $500. The credit was correct. e. Courtney recorded a $210 purchase of office supplies on account by debiting Office Supplies for $120 and crediting Accounts Payable for $120. Requirements: 1. For each of these errors, state whether total debits equal total credits on the trial balance. 2. Identify each account that has an incorrect balance and the amount and direction of the error (e.g., “Accounts Receivable $500 too high”).
> From what you know of this case, do you think the jury arrived at the correct decision? If not, why not? If so, why?
> What is the difference between disparate treatment and disparate impact?
> What is human resource management?
> This chapter explained how Randy MacDonald, IBM’s senior vice president of human resources, reorganized IBM’s human resources function. Use sites such as http://www-03.ibm.com/press/us/en/biography/10067.wss to help explain and illustrate the sorts of ex
> Working individually or in groups, interview an HR manager. Based on that interview, write a short presentation regarding HR’s role today in building competitive organizations.
> Explain with at least five examples why “a knowledge and proficiency in HR management concepts and techniques is important to all supervisors or managers.”
> Explain the defenses and exceptions to discriminatory practice allegations.
> Do you think setting up an HR unit in the main office would help?
> What would you do first if you were Jennifer?
> Give examples of how HR management concepts and techniques can be of use to all managers.
> Based on sites such as www.starbucks.com/careercenter/us-careers/partner-experience what do you think of the benefits that Starbucks offers its employees? Do you think they are better, worse, or about average, and why?
> Working individually or in groups, develop a graphic rating scale for the following jobs: secretary, professor, directory assistance operator.
> “Who should do the appraising?”
> Do you think that the experts' recommendations will be sufficient to get most of the administrators to fill out the rating forms properly? Why? Why not? What additional actions (if any) do you think will be necessary?
> What do you think is causing some of the problems in the bank home office and branches?
> Use sites such as www.factorytour.com/tours/toyota.cfm to illustrate how Toyota appraises employees, and why that approach is important for the goals Toyota has for its cars.
> What do you think of Apex’s training process? Could it help to explain why employees “do things their way” and if so, how?
> Explain HR management’s role in relation to the firm’s line management.
> Explain what is meant by reliability and validity. What is the difference between them? In what respects are they similar?
> What would be the advantages and disadvantages to Jennifer’s company of routinely administering honesty tests to all its employees?
> How would you explain the nature of the panel interview Maria had to endure? Specifically, do you think it reflected a well-thought-out interviewing strategy on the part of the firm or carelessness (or worse) on the part of the firm’s management? If it w
> What can you learn from www.google.com/intl/en/jobs/ about how Google goes about recruiting applicants and how Google screens and selects candidates?
> Bring to class several classified and display ads from the Sunday newspaper, help wanted ads, or online sources. Analyze the effectiveness of these ads using the guidelines discussed in the chapter.
> Explain to the head of a company how he or she could use the talent management approach to improve his or her company’s performance.
> How does one identify the essential functions of a job?
> List and briefly explain each of the five steps in the training process.
> Describe the pros and cons of five management development methods.
> Compare and contrast a job offer letter and a contract, and discuss the basic components of each.
> The PHR and SPHR Knowledge Base appendix at the end of this book (pages 468–476) lists the knowledge someone studying for the HRCI certification exam needs to have in each area of human resource management (such as in strategic management, workforce plan
> Explain how you would conduct a job analysis.
> List, with examples, the main generic types of corporate strategies and competitive strategies.
> Working individually or in groups, develop a list showing how trends such as workforce diversity, technological trends, globalization, and changes in the nature of work have affected the college or university you are now attending or in the organization
> Laurie Siegel, senior vice president of human resources for Tyco International took over her job in 2003, just after numerous charges forced the company’s previous board of directors and top executives to leave the firm. Hired by new CEO Edward Breen, Si
> Based on the information in this case, provide examples, for Siemens, of at least four strategically required organizational outcomes, and four required workforce competencies and behaviors.
> Make a list of five specific HR problems you think Carter Cleaning will have to grapple with.
> Explain how you would write a task statement, say for a police officer.
> Create an Accenture-type grid for your place of work or college, showing how you would segment employees into four groups.
> Explain how to install a performance management program.
> What sort of training program would you recommend to avoid such cultural insensitivity?
> Give some examples of how interest inventories could be used to improve employee selection. In doing so, suggest several examples of occupational interests that you believe might predict success in various occupations, including college professor, accoun
> Briefly discuss and give examples of at least five common interviewing mistakes. What recommendations would you give for avoiding these interviewing mistakes?
> Describe the types of information typically found in a job specification.
> The HRCI Knowledge Base appendix at the end of this book (pages 468–476) lists the knowledge someone studying for the HRCI certification exam needs to have in each area of human resource management (such as in strategic management, workforce planning, an
> Explain with examples each of the seven steps in the strategic planning process.
> Assume you are the manager in a small restaurant; you are responsible for hiring employees, supervising them, and recommending them for promotion. Working individually or in groups, compile a list of potentially discriminatory management practices you sh
> What important precedents were set by the Griggs v. Duke Power Company case?
> What is organizational development and how does it differ from traditional approaches to organizational change?
> Illustrate examples of segmenting and actively managing a company’s talent.
> The accountant for Countryside Painting Specialists is having a hard time preparing the trial balance as of November 30, 2018: Prepare the corrected trial balance as of November 30, 2018. Assume all amounts are correct and all accounts have normal bala
> The T-accounts of McMahon Farm Equipment Repair follow as of May 31, 2018. Prepare McMahon Farm Equipment Repair’s trial balance as of May 31, 2018. ASSETS UABILITIES EQUITY Contributed Capital Retained Earnings Cash Salaries Paya
> The accounts of Anderson Moving Company follow with their normal balances as of August 31, 2018. The accounts are listed in no particular order. Prepare Anderson’s trial balance as of August 31, 2018. Common Stock $ 49,800 Trucks
> In December 2018, the first five transactions of Abling’s Lawn Care Company have been posted to the T-accounts. Prepare the journal entries that served as the sources for the five transactions. Include an explanation for each entry.
> The first nine transactions of North-West Airplane Repair have been posted to the T-accounts. Provide an explanation for each of the nine transactions.
> The following transactions occurred for Wilke Technology Solutions: Journalize the transactions of Wilke Technology Solutions. Include an explanation with each journal entry. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Prepa
> The following transactions occurred for Lawrence Engineering: Requirements: 1. Open the following T-accounts for Lawrence Engineering: Cash; Accounts Receivable; Office Supplies; Equipment; Accounts Payable; Notes Payable; Common Stock; Dividends; Serv
> The following transactions occurred for Lawrence Engineering: Journalize the transactions of Lawrence Engineering. Include an explanation with each journal entry. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Equipment; Accoun
> As the manager of Margarita Mexican Restaurant, you must deal with a variety of business transactions. Provide an explanation for the following transactions: a. Debit Equipment and credit Cash. b. Debit Dividends and credit Cash. c. Debit Wages Payable
> What does the going concern assumption mean for a business?
> Insert the missing information into the accounting equation. Signify increases as Incr. and decreases as Decr. LIABILITIES (b) Contributed Capital Retained Earnings ASSETS (C) + Common Stock (d) Revenues Expenses (m) Decr. (e) Debit Decr. (n) (f) In
> a. Interest Revenue b. Accounts Payable c. Common Stock d. Office Supplies e. Advertising Expense f. Unearned Revenue g. Prepaid Rent h. Utilities Expense i. Dividends j. Service Revenue Requirements: 1. Identify each account as asset (A), liability (L)
> John Hart, M.D., reported the following trial balance as of September 30, 2018: Calculate the debt ratio for John Hart, M.D. JOHN HART M.D. Trial Balance September 30o, 2018 Balance Account Title Debit Credit Cash $ 30,000 Accounts Receivable 7,900
> For each transaction, identify a possible source document. a. The business received $20,000 cash and issued common stock to stockholders. b. Purchased office supplies on account, $500. c. Recorded $1,000 revenue for services rendered to customers.
> Raymond Autobody Shop has the following accounts: Accounts Payable …………………………………………………………………………….Service Revenue Cash …………………………………………………………..…………………………………………….Equipment Utilities Expense …………………………………………….…………………………………..Common Stock Automotive Supplies
> Match the accounting terms with the corresponding definitions. 1. Posting a. A detailed record of all increases and decreases that have occurred in a particular asset, liability, or equity during a period 2. Account 3. Debit b. The record holding al
> The following transactions occurred during the month for Teresa Parker, CPA: Requirements: 1. Open the following four-column accounts of Teresa Parker, CPA: Cash, 110; Accounts Receivable, 120; Office Supplies, 130; Office Furniture, 140; Accounts Paya
> The following transactions occurred for Wilke Technology Solutions: Requirements: 1. Open four-column accounts using the following account numbers: Cash, 110; Accounts Receivable, 120; Office Supplies, 130; Prepaid Advertising, 140; Land, 150; Building
> Better Days Ahead, a charitable organization, has a standing agreement with First National Bank. The agreement allows Better Days Ahead to overdraw its cash balance at the bank when donations are running low. In the past, Better Days Ahead managed funds
> Your friend, Dean McChesney, requested that you advise him on the effects that certain transactions will have on his business, A-Plus Travel Planners. Time is short, so you cannot journalize the transactions. Instead, you must analyze the transactions wi
> A business purchases an acre of land for $5,000. The current market value is $5,550, and the land was assessed for property tax purposes at $5,250. What value should the land be recorded at, and which accounting principle supports your answer?
> Problem P2-42 continues with the company introduced in Chapter 1, Canyon Canoe Company. Here you will account for Canyon Canoe Company’s transactions as it is actually done in practice. Begin by reviewing the transactions from Chapter 1
> In 35 words or fewer, explain the difference between a debit and a credit, and explain what the normal balance of the six account types is.
> Starbucks Corporation is the premier roaster, marketer, and retailer of specialty coffee in the world, operating in 68 countries. Starbucks generates revenues through company-operated stores, licensed stores, and consumer packaged goods. In 2015, Revenue
> Centerpiece Arrangements has just completed operations for the year ended December 31, 2018. This is the third year of operations for the company. The following data have been assembled for the business: Prepare the balance sheet of Centerpiece Arrange
> Elaine’s Inflatables earns service revenue by providing party planning services and inflatable playscapes. Elaine’s Inflatables is organized as a corporation. During the past month, Elaine’s Inflatables had the following transactions: a. Received contrib
> Tiny Town Kennel earns service revenue by caring for the pets of customers. Tiny Town Kennel is organized as a corporation. During the past month, Tiny Town Kennel has the following transactions: a. Received $520 cash for service revenue earned. b. Paid
> Roland’s Overhead Doors reports the following financial information: Assets …………………………………………………………………………….$ 45,800 Liabilities ……………………………………………………………………………17,220 Common Stock ………………………………………………………………….27,460 Dividends ……………………………………………………………………………6,500
> You would like to start a cellular telephone equipment service business. You are Considering organizing the business as a sole proprietorship. Identify the advantages and disadvantages of owning a sole proprietorship.
> Chloe Michaels plans on opening Chloe Michaels Floral Designs. She is Considering the various types of business organizations and wishes to organize her business with unlimited life and wants owners of the business to not be held personally liable for th
> Polk Street Homes had the following cash transactions for the month ended July 31, 2018. Cash receipts: Collections from customers …………………………………………………………………..$ 25,000 Issued common stock ………………………………………………………………………………13,000 Cash payments: Rent ………………………
> Briefly describe the two major fields of accounting.
> Matured Water Services had net income for the month of October of $50,880. Assets as of the beginning and end of the month totaled $362,000, and $486,000, respectively. Calculate Matured Water Services’ ROA for the month of October.
> Centerpiece Arrangements has just completed operations for the year ended December 31, 2018. This is the third year of operations for the company. The following data have been assembled for the business: Prepare the statement of retained earnings of Ce
> Centerpiece Arrangements has just completed operations for the year ended December 31, 2018. This is the third year of operations for the company. The following data have been assembled for the business: Prepare the income statement of Centerpiece Arra
> Consider the following accounts: a. Accounts Payable b. Cash c. Common Stock d. Accounts Receivable e. Rent Expense f. Service Revenue g. Office Supplies h. Dividends i. Land j. Salaries Expense Identify the financial statement (or statements) that each
> Consider the following accounts: a. Accounts Payable b. Cash c. Common Stock d. Accounts Receivable e. Rent Expense f. Service Revenue g. Office Supplies h. Dividends i. Land j. Salaries Expense Identify each account as Asset, Liability, or Equity.
> Thompson Handyman Services has total assets for the year of $18,400 and total Liabilities of $9,050. Requirements: 1. Use the accounting equation to solve for equity. 2. If next year assets increased by $4,300 and equity decreased by $3,850, what would
> Michael McNamee is the proprietor of a property management company, Apartment Exchange, near the campus of Pensacola State College. The Business has cash of $8,000 and furniture that cost $9,000 and has a market value of $13,000. The business debts inclu
> Suppose you are starting a business, Wholly Shirts, to imprint logos on T-shirts. In organizing the business and setting up its accounting records, you take your information to a CPA to prepare financial statements for the bank. Name the organization tha
> For each user of accounting information, identify if the user would use financial accounting or managerial accounting. a. investor b. banker c. IRS d. manager of the business e. controller f. stockholder g. human resources director h. creditor
> Describe the similarities and differences among the four different types of business entities discussed in the chapter.
> What is accounting?
> Explain the purpose of Generally Accepted Accounting Principles (GAAP),including the organization currently responsible for the creation and governance of these standards.
> What are two certifications available for accountants? Briefly explain each certification.
> Describe the various types of individuals who use accounting information and how they use that information to make important decisions.
> List the four financial statements. Briefly describe each statement.
> Canyon Canoe Company is a service-based company that rents canoes for use on local lakes and rivers. Amber and Zack Wilson graduated from college about 10 years ago. They both worked for one of the “Big Four” accountin
> What is the calculation for ROA? Explain what ROA measures.
> Abby Perry recently opened her own law office on December 1, which she operates as a corporation. The name of the new entity is Abby Perry, Attorney. Perry experienced the following events during the organizing phase of the new business and its first mon
> Amos Sharp recently opened his own accounting firm on October 1, which heoperatesas a corporation. The name of the new entity is Amos Sharp, CPA. Sharp experienced the following events during the organizing phase of the new business and its first month o
> The bookkeeper of Juniper Landscaping prepared the company’s balance sheet while the accountant was ill. The balance sheet, shown on the next page, contains numerous errors. In particular, the bookkeeper knew that the balance sheet shou
