1.Mike Ford is a senior accountant at Coleman and Co, which is a financial management company. Mike has wanted to be on the board of representatives of his company for a long time, but the company stipulates a minimum number of years an employee must work at the organization before he or she makes it to the board. Mike is unwilling to work two more years to reach that stipulated experience and so he found a way to transgress this rule. He met up with one of the existing board members who was having problems accounting for allocated funds that went missing and offered to settle that for him in his department provided he nominate Mike to the board. Which of the following power tactics is being used here?A. ingratiationB. legitimacyC. inspirational appealsD. pressureE. exchange 2.Harrison Company owns 20,000 of the 50,000 outstanding shares of Taylor, Inc. common stock. During 2015, Taylor earns $1,200,000 and pays cash dividends of $1,000,000.If the beginning balance in the investment account was $625,000. the balance at December 31, 2015, should beA. $1,025,000B. $825,000C. $705,000D. $625,000 3.Could we use managerial accounting tools to assess the profitability of an organization other than a manufacturing business, or are the topics that we are learning only related to manufacturing? 4.AASB138 now requires research costs to be expensed, whereas previously, they could be capitalized. What are the social and environmental implications of this change?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

1.Mike Ford is a senior accountant at Coleman and Co, which is a financial management company. Mike has wanted to be on the board of representatives of his company for a long time, but the company stipulates a minimum number of years an employee must work at the organization before he or she makes it to the board. Mike is unwilling to work two more years to reach that stipulated experience and so he found a way to transgress this rule. He met up with one of the existing board members who was having problems accounting for allocated funds that went missing and offered to settle that for him in his department provided he nominate Mike to the board. Which of the following power tactics is being used here?
A. ingratiation
B. legitimacy
C. inspirational appeals
D. pressure
E. exchange

2.Harrison Company owns 20,000 of the 50,000 outstanding shares of Taylor, Inc. common stock. During 2015, Taylor earns $1,200,000 and pays cash dividends of $1,000,000.
If the beginning balance in the investment account was $625,000. the balance at December 31, 2015, should be
A. $1,025,000
B. $825,000
C. $705,000
D. $625,000

3.Could we use managerial accounting tools to assess the profitability of an organization other than a manufacturing business, or are the topics that we are learning only related to manufacturing?

4.AASB138 now requires research costs to be expensed, whereas previously, they could be capitalized. What are the social and environmental implications of this change?

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