Question 3: Freedom at 40? You’re 25 years old and about to start work but working isn’t really your “thing” and you want to retire at the ripe old age of 40, on Jan. 1, 2033. You figure that you’ll live to be 100 because you’re in good health and your grandmother just celebrated her 102nd birthday. You estimate that you’ll need $100,000 of retirement […]
Victoria Kite Company a small Melbourne firm that sells kits on the web wants a master budget for the next three months beginning Jan 1, 2008. It desires an ending min cash balance of $5,000 each month. Sales are forecasted at an average wholesale selling price of $8 per kits. In Jan, Victoria Kite is beginning just-in-time (JIT) deliveries from suppliers, which means that purchases equal expected sales. […]
Attached is the first page of a prospectus for a Reverse Exchangeable Note issued by ABN-AMRO. The security was sold to investors for a price of $1,000. a) Describe the structure of the security. What are the payoffs to an investor who buys a Reverse Exchangeable Notes? b) Show that the GE RES is equivalent to a package consisting of a coupon bond that is sold by ABN AMRO […]
1) 2) 3) What is a contingent liability? How is one reflected in the financial statements and the footnotes? How is this accounting treatment consistent with the concept of a liability? How are liabilities reflected on the balance sheet (in general)? How is the accounting for bonds consistent with this answer? Why? Why can the market price of a bond be calculated as a present […]
B. The company paid a supplier $38,000 on account at December 31, 2006. C. The company declared a cash dividend at December 31, 2006. D. Two of the above. A. Trading securities owned by the company declined in value between their purchase date and the company”s December 31, 2006 year-end. Which of the following items would cause a decrease in a company”s 2006 net income? […]
Create the structure of a subsidiary Christian-based company for a sport or entertainment organization. Specifically, in approximately 500 words, please explain which business structure you recommend (and why) for a new Christian-based subsidiary of an existing sport or entertainment organization. Business structures to choose form are as follows: Sole proprietorship General and limited partnerships Subchapter S corporation C corporation Limited liability corporation or partnership Creation […]
A privately held corporation wishes to estimate its cost of equity. The firm has a target debt-to-equity ratio of 0.5 and the marginal tax rate is 21%. The yield on 10 year U.S. Treasury securities is 4% and the expected market risk premium is 6%. It has identified 2 pure play firms with the following equity betas and debt-to-equity rations: . Firm ……… Beta ……….. […]
Soon HALO (High Altitude Long Operation) will be a viable way to gain entrance on the Internet. This method will place aircraft in fixed positions over hundreds of cities. The lightweight planes will circle overhead and provide data delivery. What other ways can you envision Internet access might be offered? Space? Water? Where and how? B. In the near future, Texas Instruments hopes to have […]
Forda Lumber Company owns a 7,000-acre tract of timber purchased in 2007 at a cost of $1,300 per acre. At the time of purchase, the land was estimated to have a value of $300 per acre without the timber. Forda Lumber Company has not logged this tract since it was purchased. In 2014, Forda had the timber cruised. The cruise (appraiser) estimated that each acre […]
Exercise 13.13 Cash Flows from Investing Activities L.O. 4 Part b(b) What impact does equipment sold at a loss, and land sold at a gain have on your calculation? (Select all that apply.)Gain on sale of land is reflected in the cash payments figure. Loss on sale of equipment is reflected in the cash payments figure. Loss or gain will be reflected in neither cash […]
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