ASSIGNMENT 1- Evaluating Quality Standards
Use the ITT Tech Virtual Library to research how an organization can benefit from either the ISO 9000 or the ISO 14000 certification. Compare and contrast the differences between each certification and provide an example where one certification would be more beneficial to an organization than the other.
ASSIGNMENT 2 - The Malcolm Baldrige Award's Prestige
Research the ITT Tech Virtual Library LexisNexis Academic database to discover the criteria for winning the Malcolm Baldrige National Quality Award. Suggest how an organization can create a more effective customer focus, and provide recommendations on how organizations can try to achieve this award. Give an example of how following the award's criteria has positively impacted a company.
Question - Prepare a balance sheet and income statement for the Warner Company from the following scrambled list of items.
|
Depreciation expense
|
$66,000
|
|
Cash
|
225,000
|
|
Long-term debt
|
334,000
|
|
Sales
|
573,000
|
|
Accounts payable
|
102,000
|
|
General and administrative expense
|
79,000
|
|
Buildings and equipment
|
895,000
|
|
Notes payable
|
75,000
|
|
Accounts receivable
|
153,000
|
|
Interest expense
|
4,750
|
|
Accrued expenses
|
7,900
|
|
Common stock
|
289,000
|
|
Cost of goods sold
|
297,000
|
|
Inventory
|
99,300
|
|
Taxes
|
50,500
|
|
Accumulated depreciation
|
263,000
|
|
Prepaid expenses
|
14,500
|
|
Taxes payable
|
53,000
|
|
Retained earnings
|
262,900
|
a. What is the firm's net working capital and debt ratio?
b. Complete a common-sized income statement and a common-sized balance sheet. Interpret your findings.
Source: Keown, A. J., Martin, J. D., & Petty, J. W. (2011). Foundations of finance: The logic and practice of financial management (7th ed.). Boston, MA: Pearson Education.