Archives: Solution Manual

ANSWERS TO REVIEW QUESTIONS 1. Define each of the following: a. Population b. Sample A sample is a subset of the population that should represent that entire group. c. Census A census is defined as an accounting of everyone in […]

CHAPTER 9 Determining Sample Size and the Sample Plan LEARNING OBJECTIVES To become familiar with the basic concepts involved in sampling To learn how to calculate the minimum sample size needed to achieve a predetermined level of accuracy To understand […]

ANSWERS TO REVIEW QUESTIONS 1. What is a questionnaire and what are the functions of a questionnaire? A questionnaire is the vehicle used to pose the questions that the researcher desires respondents to answer. The functions of a questionnaire are […]

CHAPTER 8 Designing Data Collection Forms LEARNING OBJECTIVES To gain an overview of the questionnaire design process To learn the four “do’s” of question wording To learn the four “don’ts” of question wording To understand the basics of questionnaire organization […]

CASE SOLUTIONS Case 7.1 Extreme Exposure Rock Climbing Center Faces the Krag Case Objective: This case requires students to identify constructs in research objectives and to create measurement scales for these constructs. Answers to Case Questions Objective #1: What is […]

ANSWERS TO REVIEW QUESTIONS 1. List each of the three basic question-response formats. Indicate the two variations for each one, and provide an example for each. The answers are contained in the following table. Format type Variation(s) Example Categorical response […]

CHAPTER 7 Measurement Scales LEARNING OBJECTIVES To examine question formats commonly used in marketing research To understand the basic concepts in measurement To learn about three levels of measurement used by marketing researchers To appreciate why the type of measurement […]

ANSWERS TO REVIEW QUESTIONS 1. What is a survey? 2. What factors are affecting how marketing researchers conduct surveys? Surveys are being greatly affected by technological advances in communications and the communications preferences of consumers. 3. What are the four […]

CHAPTER 6 Data Collection Methods LEARNING OBJECTIVES To learn the four basic alternative modes for gathering survey data To understand the advantages and disadvantages of each of the alternative data gathering modes To become knowledgeable about the details of different […]

ANSWERS TO REVIEW QUESTIONS 1. What are secondary data, and how do they differ from primary data? Secondary data have previously been gathered by someone other than the researcher and/or for some other purpose than the research project at hand, […]

CHAPTER 5 Information Types and Sources: Secondary Data and Standardized Information LEARNING OBJECTIVES To learn what secondary data are, and the varied uses; and how we may classify different types of secondary data including internal and external databases To understand […]

ANSWERS TO APPLICATION QUESTIONS 23. Think of a past job that you have held. List three areas in which you, or some other person in the organization, could have benefited from having information generated by research. What would be the […]

ANSWERS TO REVIEW QUESTIONS 1. What are the independent, dependent, and possible extraneous variables in our chapter opening vignette written by Herb Sorenson? The opening vignette describes somewhat generically a number of experiments specific to a snack company’s placement of […]

CHAPTER 4 Research Design Alternatives and Qualitative Research LEARNING OBJECTIVES To understand what research design is and why it is significant To learn how exploratory research design helps the researcher gain a feel for the problem by providing background information, […]

ANSWERS TO REVIEW QUESTIONS 1. What are the steps in the marketing research process? The steps are: (1) establishing the need for marketing research, (2) defining the problem, (3) establishing research objectives, (4) determining research design, (5) identifying information types […]

CHAPTER 3 The Marketing Research Process—Defining the Problem and the Research Objectives LEARNING OBJECTIVES To gain insights into marketing research by learning the steps in the marketing research process To understand when marketing research is not needed To understand the […]

CASE SOLUTIONS Case 2.1 ABR Marketing Research Case Objective: This case study deals with ethical issues in marketing research. Answers to Case Questions The following case solution is provided by Professor Harriet Bettis-Outland, who wrote the case. Case Questions: 1. […]

ANSWERS TO REVIEW QUESTIONS 1. Describe the PRC as discussed in the opening vignette by the COO of the Marketing Research Association. The Professional Researcher Certification (PRC) came about in 2005 when the Marketing Research Association (MRA) began certifying U.S. […]

CHAPTER 2 The Marketing Research Industry LEARNING OBJECTIVES To learn about the history and characteristics of the marketing research industry, including the professional organizations in the industry To learn the leading marketing research firms and their place in the industry […]

CHAPTER 1 An Introduction to Marketing Research LEARNING OBJECTIVES To know the relationship of marketing research to marketing, the marketing concept, and marketing strategy To define marketing research To understand the purpose and uses of marketing research To classify different […]

Continuing Problem P15-38 Using ratios to evaluate a stock investment This problem continues the Canyon Canoe Company situation from Chapter 14. The company wants to invest some of its excess cash in trading securities and is considering two investments, The […]

P15-36B Completing a comprehensive financial statement analysis Learning Objectives 2, 4 3. 2018: Inventory turnover 8.86 In its annual report, XYZ Athletic Supply, Inc. includes the following five-year financial summary: XYZ ATHLETIC SUPPLY, INC. Five-Year Financial Summary (Partial; adapted) (Dollar […]

P15-33B Determining the effects of business transactions on selected ratios Learning Objective 4 1. Earnings per Share $1.38 Financial statement data of Modern Traveler’s Magazine include the following items: Cash $ 19,00  0 Accounts Receivable, Net 82,000 Merchandise Inventory 183,000 […]

P15-29A Completing a comprehensive financial statement analysis Learning Objectives 2, 4 3. 2018: Inventory turnover 8.04 In its annual report, ABC Athletic Supply, Inc. includes the following five-year financial summary: ABC ATHLETIC SUPPLY, INC. Five-Year Financial Summary (Partial; adapted) (Dollar […]

Note: Problem P15-24A must be completed before attempting Problem P15-25A. P15-24A Performing vertical analysis Learning Objective 3 1. Net Income 11.3% The Klein Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company’s profit performance and […]

E15-17 Computing working capital changes Learning Objective 4 2019 Working Capital $255,000 Data for Research Enterprises follows: 2019 2018 2017 Total Current Assets $ 490,000 $ 320,000 $ 230,000 Total Current Liabilities 235,000 160,000 115,000 Compute the dollar amount of […]

S15-8 Measuring ability to pay liabilities Learning Objective 4 Requirements 1. Compute the debt ratio and the debt to equity ratio at May 31, 2018, for Accel’s Companies. 2. Is Accel’s ability to pay its liabilities strong or weak? Explain […]

Chapter 15 Financial Statement Analysis Review Questions 1. What are the three main ways to analyze financial statements? 2. What is an annual report? Briefly describe the key parts of the annual report. An annual report (10-K) is a report […]

Continuing Problem P14-47 Preparing the statement of cash flows—indirect method This problem continues the Canyon Canoe Company situation from Chapter 13. Canyon Canoe Company’s comparative balance sheet is shown below. 2019 amounts are assumed, but include several transactions from prior […]

P14A-44B Preparing the statement of cash flows—direct method Learning Objective 4 Appendix 14A 1. Net Cash Prov. by Op. Act. $136,300 Collections from Cust. $443,700 Use the Sweet Valley data from Problem P14-41B. Requirements 1. Prepare the 2018 statement of […]

P14-40B Preparing the statement of cash flows—indirect method Learning Objective 2 Net Cash Prov. by Op. Act. $85,700 Accountants for Benson, Inc. have assembled the following data for the year ended December 31, 2018: 2018 2017 Current Assets: Cash $ 105,100 […]

P14A-37A Preparing the statement of cash flows—direct method Learning Objective 4 Appendix 14A 1. Net Cash Prov. by Op. Act. $125,100 Collections from Cust. $438,900 Use the Rolling Hills, Inc. data from Problem P14-34A. Requirements 1. Prepare the 2018 statement […]

P14-33A Preparing the statement of cash flows—indirect method Learning Objective 2 Net Cash Used for Inv. Act. $(15,500) Accountants for Morganson, Inc. have assembled the following data for the year ended December 31, 2018: 2018 2017 Current Assets: Cash $ 99,400 […]

E14-26 Analyzing free cash flow Learning Objective 3 Use the Rouse Exercise Equipment data in Exercises E14-23 and E14-24. Rouse plans to purchase a truck for $23,000 and a forklift for $125,000 next year. In addition, it plans to pay […]

E14-20 Computing operating activities cash flow—indirect method Learning Objective 2 Net Cash Prov. by Op. Act. $49,500 The accounting records of CD Sales, Inc. include the following accounts: Account Beginning Balance Ending Balance Cash $ 7,500 $ 6,500  Accounts Receivable 21,000 […]

S14-9 Computing the change in cash; identifying non-cash transactions Learning Objective 2 Jennifer’s Wedding Shops earned net income of $27,000, which included depreciation of $16,000. Jennifer’s acquired a $119,000 building by borrowing $119,000 on a long-term note payable. Requirements 1. […]

Chapter 14 The Statement of Cash Flows Review Questions 1. What does the statement of cash flows report? 2. How does the statement of cash flows help users of financial statements? The statement of cash flows helps users do the […]

Comprehensive Problem, cont. Requirement 6, cont. THE TUSQUITTEE COMPANY Balance Sheet December 31, 2018 Liabilities Current Liabilities: Sales Tax Payable 12,600 Estimated Warranty Payable 29,300 Interest Payable 1,569 Notes Payable 10,000 Current Portion of Mortgage Payable 13,840 Total Current Liabilities […]

Comprehensive Problem, cont. Requirement 2, cont. Date Accounts Debit Credit Dec. 10 Accounts Payable 150,000 Cash 150,000 15 FICA—OASDI Taxes Payable ($868 + $868) 1,736 FICA—Medicare Taxes Payable ($203 + $203) 406 Employee Income Taxes Payable 3,250 Employee Health Insurance […]

Comprehensive Problem for Chapters 11, 12, and 13 The Tusquittee Company is a retail company that began operations on October 1, 2018, when it incorporated in the state of North Carolina. The Tusquittee Company is authorized to issue 100,000 shares […]

P13-50B Preparing an income statement Learning Objective 5 Net Income $37,840 The following information was taken from the records of Arizona Motorsports, Inc. at November 30, 2018: Selling Expenses Administrative Expenses Income from Discontinued Operations Cost of Goods Sold Treasury […]

P13-44A Journalizing dividend and treasury stock transactions, preparing a statement of retained earnings, and preparing stockholders’ equity Learning Objectives 3, 4, 6 2. Retained Earnings Dec. 31, 2018 $126,550 The balance sheet of Goldstein Management Consulting, Inc. at December 31, […]

P13-40A Identifying sources of equity, stock issuance, and dividends Learning Objectives 1, 2, 4 4. Common stock dividends $402,000 Voyage Comfort Specialists, Inc. reported the following stockholders’ equity on its balance sheet at June 30, 2018: Requirements 1. Identify the […]

E13-29 Journalizing a stock dividend and reporting stockholders’ equity Learning Objective 4 2. Total Stockholders’ Equity $122,000 The stockholders’ equity of Lakeside Occupational Therapy, Inc. on December 31, 2017, follows: On April 30, 2018, the market price of Lakeside’s common […]

E13-21 Journalizing issuance of stock Learning Objective 2 Steller Systems completed the following stock issuance transactions: May 19 Issued 1,700 shares of $3 par value common stock for cash of $10.50 per share. Jun. 3 Issued 300 shares of $9, […]

S13-8 Dividing cash dividends between preferred and common stock Learning Objective 4 Copperhead Trust has the following classes of stock: Preferred Stock—6%, $12 par value; 8,500 shares authorized, 7,000 shares issued and outstanding Common Stock—$0.10 par value; 2,100,000 shares authorized, […]

Chapter 13 Stockholders’ Equity Review Questions 1. What is a corporation? 2. List three characteristics of a corporation. Characteristics of a corporation are the following (students are required to list three): a. Is a separate legal entity b. Has one […]

P12AB-44B Determining the present value of bonds payable and journalizing using the effective-interest amortization method Learning Objectives 7, 8 Appendixes 12A, 12B 3. Jan. 1, 2018, Cash $311,613 Ari Goldstein issued $300,000 of 11%, five-year bonds payable on January 1, […]

Problems (Group B) P12-39B Journalizing liability transactions and reporting them on the balance sheet Learning Objectives 1, 5 2. Total Liabilities $661,776 The following transactions of Great Value Pharmacies occurred during 2018 and 2019: 2018 Mar. 1 Borrowed $390,000 from […]

P12-34A Analyzing and journalizing bond transactions Learning Objectives 2, 3, 4 3. June 30, 2018, Interest Expense $25,200 On January 1, 2018, Nurses Credit Union (NCU) issued 8%, 20-year bonds payable with face value of $600,000. The bonds pay interest […]