Accounting questions

4. (20 Points)The Teaching & Learning Research Center at UAlbany needs to prepare a budget for a research proposal to do an in-depth study of Rensselaer County’s after-school programs. The County is willing to pay $17,500 for each site studied, up to 15 sites. A report must be submitted within a year of the start of the project.

Regardless of the number of sites, the Center will need a primary researcher at $60,000 per year and 2 associate researchers at $35,000 each per year to do the study. Supervising the site studies is the responsibility of the associate researchers. Each associate researcher will be able to supervise up to eight sites. Research assistants are needed to transcribe field notes and provide support for the associate researchers. These part-time research assistants are each paid $6,000 and are only able to support 3 site studies each. The center must budget 30% of the salary of the primary and associate researchers for fringe benefits.

Based on past experience, the Center estimates that it will need $2,500 for supplies. Researchers will have to travel to each research site. Each trip will cost $20 and the center expects that 40 trips will be made to each site during the study.

Prepare a budget of revenues and expenses for a study that includes 9 sites, 12 sites, and 15 sites.

Questions 1 to 12 refer to the 2010 annual report of WAMC – a region public radio station.

1. 1 point . Did the auditors issue a qualified, unqualified or adverse opinion of WAMC’s financial position? What is the source of the information?

2. 2 point . Does WAMC comply with Generally Accepted Accounting Principles in its treatment of bad debts? Be specific. What is the source of the information for your answer?

3. 4 points . Was WAMC a net buyer or seller of investments (other than property and equipment) in fiscal years 2009 and 2010? Support your answer with the appropriate numbers from the statements? Where did you find the information?

4. 6 points . What were WAMC Current ratios for fiscal years 2009 and 2010? How do they compare to the rule of thumb for current ratios? Is the trend favorable or unfavorable? Where did you find the information?

Current ratio = current assets / current liabilities

5. 8 points . What were WAMC’s total debt-to-net-assets ratios for fiscal years 2009 and 2010? Be sure to exclude all non-debt liabilities from your calculations. How do they compare to the rule of thumb for debt-to-net-asset ratios? Is the trend favorable or unfavorable? Where did you find the information?

Debt to Net Assets = total debt / total net assets

6. 5 points . What was the largest single source of revenue and support for WAMC during fiscal years 2009 and 2010? What percent of WAMC’s total revenue and support did that source represent in each fiscal year? What was the percentage increase or decrease in that source between the two fiscal years? Where did you find the information

7. 6 points . How much did WAMC’s total change in net assets increase or decrease between fiscal years 2009 and 2010? What were their operating margins in each of those fiscal years? Support you answer with all appropriate numbers. Where did you find the information?

Operating margin = total increase in unrestricted net assets

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Total unrestricted revenue and support

8. 5 points . How much did “other support and revenue” increase between fiscal years 2009 and 2010? What was the single major contributor to that change? Support you answer with all appropriate numbers. Where did you find the information?

9. 3 point . What was WAMC’s program expense ratio for fiscal year 2010? Support you answer with all appropriate numbers. Where did you find the information?

10. Program expense ratio = program expenses / total expenses 3 points . How much did WAMC’s “First Amendment Fund” balance increase or decrease between June 30 2009 and June 30, 2010? For accounting purposes, are these funds unrestricted, temporarily or permanently restricted? Support your answers with the appropriate numbers from the statements. Where did you find the information?

11. 5 points . What were WAMC’s times-interest-earned ratios for fiscal years 2009 and 2010? How do they compare to the rule of thumb for times-interest-earned ratios? Is the trend favorable or unfavorable? Where did you find the information?

Times Interest Earned = (change in net assets + interest expense)

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Interest expense

12. 2 points . What method of depreciation does WAMC use? What were its depreciation expenses for fiscal years 2009 and 2010? Where did you find the information?

PALGIARISM FREE ANSWERS PLEASE !!!