Chester Company

1) The Chester 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 book value of this purchase (exclude all other plant and equipment) be after its third year of use? (Use FASB GAAP)

Select: 1

[removed] $33,538,000 [removed] $35,446,667 [removed] $29,448,000 [removed] $32,720,000

 

 

 

2) What is the Quick Ratio of Chester?

Select: 1

[removed] 1.39 [removed] 1.61 [removed] .62 [removed] .72

 

 

 

3) Digby has a ROS of 0.09 (ROS = Net income/Sales). That means:

Select: 1

[removed] There are sales of $9 for every dollar of profit. [removed] There is a 9% profit on each dollar of sales. [removed] There are sales of $91 for every dollar of profit. [removed] For every $9 of sales there is a profit of 1%.

 

 

 

4) Midyear on July 31st, the Baldwin Corporation’s balance sheet reported: Total Liabilities of $103.453 million Cash of $8.040 million Total Assets of $172.520 million Total Common Stock of $5.080 million. What were the Baldwin Corporation’s retained earnings?

Select: 1

[removed] $74.147 million [removed] $63.987 million [removed] $72.027 million [removed] $82.187 million

 

 

 

5) 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] Seek high plant utilization, even if it risks occasional small stockouts [removed] Increase demand through TQM initiatives [removed] Add additional products [removed] Seek high automation levels [removed] Offer attractive credit terms [removed] Seek the lowest price in their target market while maintaining a competitive contribution margin [removed] Reduce cost of goods through TQM initiatives [removed] Seek excellent product designs, high awareness, and high accessibility [removed] Accept lower plant utilization and higher capacities to insure sufficient capacity is available to meet demand [removed] Reduce labor costs through training and recruitment

 

6) Rank the following companies from high to low cumulative profit, (in descending order, 1=highest, 4=lowest).

Rank in order from 1 to 4

[removed]  Chester [removed]  Baldwin [removed]  Andrews [removed]  Digby

 

 

 

7) Which description best fits Chester in your industry? For clarity: – A differentiator competes through good designs, high awareness, and easy accessibility. – A cost leader competes on price by reducing costs and passing the savings to customers. – A broad player competes in all parts of the market. – A niche player competes in selected parts of the market. Which of these four statements best describes this competitor?

Select: 1

[removed] Chester is a niche cost leader [removed] Chester is a broad differentiator [removed] Chester is a broad cost leader [removed] Chester is a niche differentiator

 

 

 

8) If Baldwin issued 1000 shares of common stock at last year’s end price, the effect on the balance sheet would be:

Select: 1

[removed] Retained earnings would increase by $4,804 [removed] Retained earnings would increase by $48,039 [removed] Equity would decrease by $4,804 [removed] Equity would increase by $48,039

 

 

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