CP2-2CP2-2Finding Financial InformationLO2-1, 2-2, 2-5, 2-6Refer t.docx

CP2-2CP2-2Finding Financial InformationLO2-1, 2-2, 2-5, 2-
6Refer to the financial statements of Urban Outfitters in
Appendix C at the end of this book.Required:1. Use the
company's balance sheet to determine the amounts in the
accounting equation (A = L + SE) as of January 31, 2012.
Assets=Liabilities+Shareholders’ Equity=+2. If the company
were liquidated at the end of the current year (January 31,
2012), are the shareholders guaranteed to receive
$1,066,268,000?Why or why not?3. What are the company's
noncurrent liabilities?4. What is the company's current
ratio?Current ===Ratio5. Did the company have a
cash inflow or outflow from investing activities? Of how much?
CP2-2 Check FiguresCP2-2Finding Financial InformationLO2-
1, 2-2, 2-5, 2-6Refer to the financial statements of Urban
Outfitters in Appendix C at the end of this book.Required:1.
Use the company's balance sheet to determine the amounts in
the accounting equation (A = L + SE) as of January 31, 2012.
Assets=Liabilities+Shareholders’ Equity=+2. If the company
were liquidated at the end of the current year (January 31,
2012), are the shareholders guaranteed to receive
$1,066,268,000?Why or why not?3. What are the company's
noncurrent liabilities?4. What is the company's current
ratio?Current ===2.56Ratio5. Did the company have
a cash inflow or outflow from investing activities? Of how
much?
Sheet2List 1List 2List 3YesCurrent AssetsNet Cash
InflowNoTotal AssetsNet Cash OutflowCurrent LiabilitesTotal
LiabilitiesTotal Shareholders' Equity
PEER RESPONSES: WEEK 5 - DISCUSSION 1&2

1
Engagement/ Participation: Respond to two of your classmates’
Distinguished - Contributes to classroom conversations with at
least the minimum number of replies, all of which were
thoughtful, relevant, and contributed meaningfully to the
conversation. Fully engages in the conversation with
appropriate topic-based responses.
Proficient - Contributes to classroom conversations with the
minimum number of replies that are somewhat thoughtful,
relevant, and contributed meaningfully to the conversation.
Attempts to fully engage in the conversation with appropriate
topic-based responses.
Peer Responses must be written as though you are speaking with
the classmate, having a conversation that goes back and forth
and expresses whether or not you agree or disagree with their
point-of-view on the topic.
Week 5 - Discussion 1: Social Movements
W. Smallwood # 1
There are four different types of social movements, that focus
on different ideas of change. these social movements
are revolutionary, Reformative, reactionary, and the redemptive
movements and all of these movements serve to better their
communities, whether it is through violence or not, they see that
the place that they call home must change in order to survive.
The first is the revolutionary movement which is the more
violent of the four different types, and seeks a complete
transformation in society. A more recent example the text
provides is the right-
wing “militia” movement of the 1980s and 1990s (Van Dyke &
Soule, 2002), this is where they felt as if the federal
government failed and were a threat to individual liberties. The

reactionary movement was a little more focused on the limited
change in society, and an example to stand out to me is the civil
rights movement as well as equal rights for women and gay
civilians. These examples took a more peaceful route to get the
change that they desired, so they operated with a more strict set
of guidelines. The movement that opposed these types of
movements were the reactionary movement, their main purpose
was to maintain the way things are and they often oppose the
protests of civil rights, as well as the equal rights for women as
well as opposing gay marriage. the last of the four movements
is a more self improvement movement and this is called, the
redemptive movement. The redemptive movement focuses more
on you as an individual, an example for this type of movements
are AA meetings, individuals who feel they are addicted to a
certain thing or activity can go to this and get the help they
need. I believe each one of these movements can transform the
world we live in, but the one that I feel can transform the world
is the revolutionary movement, mainly because I believe it
holds the most weight and has the most, because you are trying
to change society as a whole not just individually. to change
something and make it some thing completely can be defined as
a transformation and I believe that is exact what the
revolutionary movement is trying explain the most.
Durkin, K. F., & Carrothers, R. M. (2015). Sociology: Beyond
common sense [Electronic version]. Retrieved
from https://content.ashford.edu/books/AUSOC101.15.1/section
s/navpoint-74
L. Smith: Peer # 2
According to the textbook and the readings social movement
is the effort to bring or stop some sort of change in a society
(Durkin & Carrothers.2015). This type of movement is meant to
be long lasting and can be brought on by different groups and
for different reasons.
The textbook spoke of a few social movements, like the
revolutionary movement; which reminds me of the Black Lives

Matter movement. Even though it started as a protest against
unjust killings of black unarmed citizens it started to turn into a
war or rebellion against police in some cases. In Dallas where I
live there were multiple cops shot at a rally for justice. This
type of behavior leaves a huge cloud over the head of our nation
when it comes to racism and social equality. Going forward this
type of behavior or movement does not help our nation or
guarantee justice. It does however bring attention to an issue
that has yet to be resolved in our country.
Another social movement that sticks out and reminds me of
things today is the War on Drugs movement; that started back in
June of 1971 and still exists today. Society for the most part
still holds true to this movement, but it has become the subject
of change and reform lately. Several states have legalized the
use of weed and its becoming a hot topic in congress. The
implications of this is so huge because, of the dangers of
opening up that door. On one hand the prison system might start
to actually become uncrowded and on the other hand we give
our youth the permission to start experimenting with drugs. The
future of this social movement is uncertain, we cannot be so
sure if it will work out for the nations good or for the worse.
common sense [Electronic version]. Retrieved from
https://content.ashford.edu/
Week 4- Discussion 2- Social Change
M. A. Remonte: Peer # 1-
Use the sociological theories provided throughout the text to
explain why these polar opposites could both occur, and what
needs to happen for peace and prosperity to result. In your

answer, be sure to offer an explanation of what the digital
divide is and why it matters.
In technology and creativity that provide a good quality of life
for most people while others predict a world of competition,
conflict and strife through sociological perspectives of
functionalism their concerns focus more on the social stability
of others where adjusting to changes in the material culture to
nonmaterial culture can be a factor in how others have to adapt
these new changes to their daily lives. As stated,
“Nonmaterial culture, such as norms and values, is constantly tr
ying to adapt to the rapid changes in material culture. (Durkin
& Carrothers, 2015).” Meaning both cultures go through an
adjustment gap of trying to incorporate the new forms of
technology into their lives like younger children being on their
ipad’s and playing with cellphones at such a young age where
when I was growing up we didn’t have ipad’s to play with but
instead played outside and enjoyed the sun.
Through evolutionary perspectives it focused more on the social
change perspective of Herbert Spencer as he argued that people
in society who were fit would be able to advance and thrive as
compare to others in society who were less fit,
“would be unable to adapt to challenges. (Durkin & Carrothers,
2015).” Where the new changes and challenges that occur in
society now will be overwhelming for most and wouldn’t agree
nor try to adapt to the new changes that occur but chose to stay
in their bubble and now follow the rest of society.
Although in cyclical perspectives societies go through
fluctuation in between two major themes, which are senate
culture and ideational culture. Where in senate culture it
focuses on personal experiences and materialism and ideational
culture focused more on compassion, faith and other emotional
ideas.
Lastly would be conflict perspectives where its theories focus
and state that, “social change is the result of conflict. (Durkin &
Carrothers, 2015).” Where conflicts can occur between different
group interests and values of people through social changes

because of how things maybe structured and developed that
brings a divide in how people represent what their values or
interests are in a situation. An example would be people would
line up on the traditional Black Friday events around the
country where it can sometimes turn violent because you have
two citizens fighting over the last piece of DVD or toaster. It
shows the lack of discipline most people have because why fight
over something that is less value rather then just walk away
from this situation to eliminate the conflict overall then being
involved with a stranger who can hurt you even more.
What needs to happen for peace and prosperity to result in these
social changes is for people to take a minute to just turn
everything off for a while. As in all their technology devices so
they are not so focused on their social media outlets but instead
focus on spending more quality time with family, friends and
loved ones because by what I am noticing around me is
everyone is so focused on their phones and social media that
they have forgotten the value of family, friendship and spending
time together trying new adventures. It is like people are
competing with one another who can post the next best thing
compared to their friends and colleagues rather then just
enjoying the time with loved ones but instead others are so
caught up with posting their new material things for the world
to see and like as if they are trying to get noticed and seek
attention from everyone. A day or two without these social
media outlets wouldn’t harm anyone but only bring goodness
because it means they will enjoy family time and being together
then the negativity of what social media has shown lately.
~Maria Thea
Reference:
common sense [Electronic version]. Retrieved from:
https://content.ashford.edu/books/AUSOC101.15.1/sections/nav
point-76

.
E Jackson :Peer # 2-
since the very beginning of civilization, people have had to
achieve a working relationship with their physical environment
for social life to be possible. This is a functional necessity for
society to thrive. Droughts, floods, storms, earthquakes,
volcanic eruptions, and climate change are all environmental
concerns that can present a serious challenge to the well-being a
social group. For instance during the great depression, over-
farming created the dust bowl in the great plains and many
Americans needed to relocate (Shepard,2009). Due to the
destruction of hurricane Katrina tens of thousands of people
living in the gulf coast had to relocate.
Since Functionalism is very much a concern with social
stability, change represents a challenge to the balance of a
social system. Societies inherently behave in ways that seek to
maintain equilibrium through the adjustment of various parts.
When change is instituted, other parts of the social system must
assimilate this change. As parsons (1951) noted, societies will
strive toward an integration of systems when change occurs.
Cyclical theories as Moore (1974) observed cyclical theories
don't just deny the existence of change, but they deny that any
specific change is leading somewhere particular in long terms,
Pitirim Sorokin (1937). He argued that societies tend to
fluctuate between two major themes meaning going backwards
and forwards.
According to conflict theory, social change is often driven by
economic factors. According to Marx and Engels (1972, p. 337)
capitalism is based on "naked self-interest". Society and social
relations are structured in a way that will benefit the capitalist
at the expenses of the rest of the citizen.
what is digital divide?

A term used to describe the discrepancy between people who
have access to and the resources to use new information and
communication tools, such as the Internet, and people who do
not have the resources and access to the technology. The term
also describes the discrepancy between those who have the
skills, knowledge and abilities to use the technologies and those
who do not. The digital divide can exist between those living in
rural areas and those living in urban areas, between the
educated and uneducated, between economic classes, and on a
global scale between more and less industrially developed
nations.
common sense [Electronic version]. Retrieved from
https://content.ashford.edu/
· This text is a ConstellationTM course digital materials (CDM)
title.
P2-3P2-3 Recording Transactions in T-Accounts, Preparing the
Balance Sheet from a Trial Balance, and Evaluating the Current
Ratio LO2-2, 2-4, 2-5Cougar Plastics Company has been
operating for three years. At December 31, 2014, the accounting
records reflected the following: Cash$22,000Accounts
payable$15,000 Investments (short-term)3,000Accrued
liabilities payable4,000 Accounts receivable3,000Notes
payable (short-term)7,000 Inventory20,000Long-term notes
payable47,000 Notes receivable (long-term)1,000Common
stock10,000 Equipment50,000Additional paid-in
capital80,000 Factory building90,000Retained
earnings31,000 Intangibles5,000During the year 2015, the
company had the following summarized activities:a.Purchased
short-term investments for $10,000 cash.b.Lent $5,000 to a
supplier who signed a two-year note.c.Purchased equipment that
cost $18,000; paid $5,000 cash and signed a one-year note for
the balance.d.Hired a new president at the end of the year. The
contract was for $85,000 per year plus options to purchase
company stock at a set price based on company

performance.e.Issued an additional 2,000 shares of $0.50 par
value common stock for $11,000 cash.f.Borrowed $9,000 cash
from a local bank, payable in three months.g.Purchased a patent
(an intangible asset) for $3,000 cash.h.Built an addition to the
factory for $24,000; paid $8,000 in cash and signed a three-year
note for the balance.i.Returned defective equipment to the
manufacturer, receiving a cash refund of $1,000.Required:1. &
2.Record each necessary entry for the events in 2015 in T-
accounts (including referencing) and determine the ending
balances. The balances at the end of 2014 have been entered as
beginning balances for 2015.(Transaction (a) has been
completed in the T-accounts as an example.)CashInvestments
(short-term)Beg. Bal.22,000Beg.
Bal.3,00010,000(a)(a)10,000End. Bal.13,000End.
Bal.12,000Accounts ReceivableInventoryBeg. Bal.3,000Beg.
Bal.20,000End. Bal.3,000End. Bal.20,000Notes Receivable
(long-term)EquipmentBeg. Bal.1,000Beg. Bal.50,000End.
Bal.1,000End. Bal.50,000Factory BuildingIntangiblesBeg.
Bal.90,000Beg. Bal.5,000End. Bal.90,000End.
Bal.5,000Accounts PayableAccrued Liabilities PayableBeg.
Bal.15,000Beg. Bal.4,000End. Bal.15,000End. Bal.4,000Notes
Payable (short-term)Long-Term Notes PayableBeg.
Bal.47,000Common StockAdditional Paid-in CapitalBeg.
Bal.80,000Retained EarningsBeg. Bal.31,000End.
Bal.31,000Required:4Prepare a trial balance at December 31,
2015.COUGAR PLASTICS COMPANYTrial BalanceAt
December 31, 2015Account TitlesDebitCreditCashInvestments
(short-term)Accounts receivableInventoryNotes receivable
(long-term)EquipmentFactory buildingIntangiblesAccounts
payableAccrued liabilities payableNotes payable (short-
term)Notes payable (long-term)Common stockAdditional paid-
in capitalRetained earningsTotals$ -$ -Required:5Prepare a
classified balance sheet at December 31, 2015.COUGAR
PLASTICS COMPANYBalance SheetAt December 31,

2015AssetsLiabilitiesCurrent assets:Current liabilities:Total
current liabilities-Total current assets-Non-current assets:Total
liabilities-Stockholders' EquityTotal non-current assets-Total
stockholders' equity-Total assets$ -Total liabilities and
stockholders' equity$ -Required:6 Compute the current ratio
for 2015. (Round your answer to 2 decimal places.)Current ratio
P2-3 Check FiguresP2-3 Recording Transactions in T-Accounts,
Preparing the Balance Sheet from a Trial Balance, and
Evaluating the Current Ratio LO2-2, 2-4, 2-5Cougar Plastics
Company has been operating for three years. At December 31,
2014, the accounting records reflected the
following: Cash$22,000Accounts payable$15,000 Investments
(short-term)3,000Accrued liabilities payable4,000 Accounts
receivable3,000Notes payable (short-
term)7,000 Inventory20,000Long-term notes
payable47,000 Notes receivable (long-term)1,000Common
stock10,000 Equipment50,000Additional paid-in
capital80,000 Factory building90,000Retained
earnings31,000 Intangibles5,000During the year 2015, the
company had the following summarized activities:a.Purchased
short-term investments for $10,000 cash.b.Lent $5,000 to a
supplier who signed a two-year note.c.Purchased equipment that
cost $18,000; paid $5,000 cash and signed a one-year note for
the balance.d.Hired a new president at the end of the year. The
contract was for $85,000 per year plus options to purchase
company stock at a set price based on company
performance.e.Issued an additional 2,000 shares of $0.50 par
value common stock for $11,000 cash.f.Borrowed $9,000 cash
from a local bank, payable in three months.g.Purchased a patent
(an intangible asset) for $3,000 cash.h.Built an addition to the
factory for $24,000; paid $8,000 in cash and signed a three-year
note for the balance.i.Returned defective equipment to the
manufacturer, receiving a cash refund of $1,000.Required:1. &
2.Record each necessary entry for the events in 2015 in T-
accounts (including referencing) and determine the ending
balances. The balances at the end of 2014 have been entered as

beginning balances for 2015.(Transaction (a) has been
completed in the T-accounts as an example.)CashInvestments
(short-term)Beg. Bal.22,000Beg.
Bal.3,00010,000(a)(a)10,0003,000(g)End. Bal.End.
Bal.Accounts ReceivableInventoryBeg. Bal.3,000Beg.
Bal.20,000End. Bal.End. Bal.Notes Receivable (long-
term)EquipmentBeg. Bal.1,000Beg. Bal.50,000End. Bal.End.
Bal.Factory BuildingIntangiblesBeg. Bal.90,000Beg.
Bal.5,000(g)3,000End. Bal.End. Bal.Accounts PayableAccrued
Liabilities PayableBeg. Bal.15,000Beg. Bal.4,000End. Bal.End.
Bal.Notes Payable (short-term)Long-Term Notes PayableBeg.
Bal.7,000Beg. Bal.47,000End. Bal.End. Bal.Common
StockAdditional Paid-in CapitalBeg. Bal.10,000Beg.
Bal.80,000End. Bal.End. Bal.Retained EarningsBeg.
Bal.31,000End. Bal.Required:4Prepare a trial balance at
December 31, 2015.COUGAR PLASTICS COMPANYTrial
BalanceAt December 31, 2015Account
TitlesDebitCreditCashInvestments (short-term)Accounts
receivableInventoryNotes receivable (long-
term)EquipmentFactory buildingIntangiblesAccounts
payableAccrued liabilities payableNotes payable (short-
term)Notes payable (long-term)Common stockAdditional paid-
in capitalRetained earningsTotals$243,000$0Required:5Prepare
a classified balance sheet at December 31, 2015.COUGAR
PLASTICS COMPANYBalance SheetAt December 31,
2015AssetsLiabilitiesCurrent assets:Current liabilities:Total
current liabilities- 0Total current assets- 0Non-current
assets:Total liabilities0Stockholders' EquityTotal non-current
assets- 0Total stockholders' equity- 0Total assets$ - 0Total
liabilities and stockholders' equity$ - 0Required:6 Compute
the current ratio for 2015. (Round your answer to 2 decimal
places.)Current ratio
Sheet6V1Y1(a)Accounts payable(b)Accounts
receivable(c)Accrued liabilities payable(d)Additional paid-in
capital(e)Cash(f)Common stock(g)Dividends
payable(h)Equipment(i)Factory

buildingIntangiblesInventoryInvestmentsLandLong-term
debtLong-term investmentsLong-term notes payableMortgage
notes payableNotes payable (long-term)Notes payable (short-
term)Notes receivable (long-term)Notes receivable (short-
term)Other current assetsOther Noncurrent AssetsOther
stockholders' equity itemsRetained earningsStore fixtures
P1-1P1-1 Preparing an Income Statement, Statement of
Stockholders Equity, and Balance Sheet LO1-1Assume that you
are the president of Highlight Construction Company. At the
end of the first year (December 31, 2014) of operations, the
following financial data for the company are
available: Cash$25,600 Receivables from customers (all
considered collectible)10,800 Inventory of merchandise (based
on physical count and priced at cost)81,000 Equipment owned,
at cost less used portion42,000 Accounts payable owed to
suppliers46,140 Salary payable for 2014 (on December 31,
2014, this was owed to an employee2,520 who was away
because of an emergency; will return around January 10,
2015, at which time the payment will be made) Total sales
revenue128,400 Expenses, including the cost of the
merchandise sold (excluding income taxes)80,200 Income taxes
expense at 30% × pretax income; all paid during 2014?
Common stock (December 31, 2014)87,000 Dividends
declared and paid during 201410,000(Note: The beginning
balances in Common stock and Retained earnings are zero
because it is the first year of operations.)Required:1. Prepare a
summarized income statement for the year 2014.HIGHLIGHT
CONSTRUCTION COMPANYIncome StatementFor the Year
Ended December 31, 20142. Prepare a statement of
stockholders' equity for the year 2014HIGHLIGHT
CONSTRUCTION COMPANYStatement of Stockholders’
EquityFor the Year Ended December 31, 2014Common
StockRetained EarningsBalance December 31, 2013Balance
December 31, 20143. Prepare a balance sheet at December 31,
2014.HIGHLIGHT CONSTRUCTION COMPANYBalance

SheetAt December 31, 2014AssetsTotal assets$ -
LiabilitiesTotal liabilities$ -Stockholders' EquityTotal
stockholders' equity$ -Total liabilities and stockholders'
equity$ -
Check FiguresP1-1 Preparing an Income Statement, Statement
of Stockholders Equity, and Balance Sheet LO1-1Assume that
you are the president of Highlight Construction Company. At
the end of the first year (December 31, 2014) of operations, the
following financial data for the company are
available: Cash$25,600 Receivables from customers (all
considered collectible)10,800 Inventory of merchandise (based
on physical count and priced at cost)81,000 Equipment owned,
at cost less used portion42,000 Accounts payable owed to
suppliers46,140 Salary payable for 2014 (on December 31,
2014, this was owed to an employee2,520 who was away
because of an emergency; will return around January 10,
2015, at which time the payment will be made) Total sales
revenue128,400 Expenses, including the cost of the
merchandise sold (excluding income taxes)80,200 Income taxes
expense at 30% × pretax income; all paid during 2014?
Common stock (December 31, 2014)87,000 Dividends
declared and paid during 201410,000(Note: The beginning
balances in Common stock and Retained earnings are zero
because it is the first year of operations.)Required:1. Prepare a
summarized income statement for the year 2014.HIGHLIGHT
CONSTRUCTION COMPANYIncome StatementFor the Year
Ended December 31, 2014Net income$27,1602. Prepare a
statement of stockholders' equity for the year 2014HIGHLIGHT
CONSTRUCTION COMPANYStatement of Stockholders’
EquityFor the Year Ended December 31, 2014Common
StockRetained EarningsBalance December 31, 2013Balance
December 31, 20143. Prepare a balance sheet at December 31,
2014.HIGHLIGHT CONSTRUCTION COMPANYBalance
SheetAt December 31, 2014AssetsTotal assets$
159,400LiabilitiesTotal liabilities$ -Stockholders' EquityTotal
stockholders' equity$ -Total liabilities and stockholders'

equity$ -
Sheet2list1list2name new listFinancial StatementsAccounts
payableNet incomePretax incomeAuditor's
ReportincreasedCashNet lossPretax lossBalance
SheetdecreasedCommon stockIncome StatementEquipmentAdd:
Net IncomeNotes to Financial StatementsIncome tax
expenseAdd: Net lossStatement of Cash FlowsIncome taxes
payableLess: Net incomeStatement of Shareholders'
EquityInterest payableLess: Net lossInventory of
merchandiseInvestmentsAdd: DividendsLong-term debtLess:
DividendsNote payableReceivables from customersRetained
earningsSalary payableStock issuanceTotal expensesTotal sales
revenue
CP1-2CP1-2 Finding Financial Information LO 1-1Refer to the
financial statements of Urban Outfitters in Appendix C at the
end of this book.Required:1. What is the amount of net income
for the most recent year?Net incomeThis information can be
found on the2. What amount of revenue was earned in the most
recent year?Net salesThis information can be found on the3.
How much inventory (in dollars) does the company have as of
January 31, 2012?InventoryThis information can be found on
the4. By what amount did cash and cash equivalents * change
during the most recent year?Cash and Cash EquivalentsbyThis
information can be found on the5. Who is the auditor for the
company?* Cash equivalents are short-term investments readily
convertible to cash whose value is unlikely to change.
Check FiguresCP 1-2 Finding Financial
InformationRequirement 2: Net Sales = $2,473,801,000.
Sheet2list1list2name new listFinancial StatementsAccounts
payableNet incomePretax incomeAuditor's
ReportincreasedCashNet lossPretax lossBalance
SheetdecreasedCommon stockIncome StatementEquipmentAdd:
Net IncomeNotes to Financial StatementsIncome tax
expenseAdd: Net lossStatement of Cash FlowsIncome taxes
payableLess: Net incomeStatement of Shareholders'

EquityInterest payableLess: Net lossInventory of
merchandiseInvestmentsAdd: DividendsLong-term debtLess:
DividendsNote payableReceivables from customersRetained
earningsSalary payableStock issuanceTotal expensesTotal sales
revenue

CP2-2CP2-2Finding Financial InformationLO2-1, 2-2, 2-5, 2-6Refer t.docx

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CP2-2CP2-2Finding Financial InformationLO2-1, 2-2, 2-5, 2-6Refer t.docx