Hint: At year -end 2016 , Wallace Landscaping’s total assets were $ 1. 6 million , and its accounts payable were $ 340 , 000 . Sales , which in 2016 were $ 2. 3 million , are expected to increase by 30% in 2017 . Total assets and accounts payable are*proportional to sales , and that relationship will be maintained . Wallace typically uses […]
Your manufacturing company is facing a cash crunch, and the chief financial officer (CFO) is having difficulties allocating the cash to pay various company bills.For each of the following net working capital accounts, propose a working capital-management strategy that will likely free up enough cash to keep the company stable:•Accounts receivabledescribe at least 1 pro and 1 con of implementing that strategy. Question:Your manufacturing company […]
“Alexa owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo: (Show calculations where applicable)Insurance $3,600Mortgage interest 10,650Property taxes 2,650Repairs & maintenance 630Utilities 3,200Depreciation 17,300During the year, Alexa rented out the condo for 130 days. She did not use the condo at all for personal purposes during the year. Alexa’s AGI from all sources other […]
The chief executive officer (CFO) of a manufacturing company that is facing a severe cash crunch has a variety of working capital management tools available to address the crisis. These could include any combination of new accounts receivable, accounts payable, inventory, or cash management strategies. One popular strategy is to simply stop paying the bills altogether. Discuss the ethics of this practice. The chief executive […]
The following are internal control deficiencies and material weaknesses – There were several instances of transactions that were not properly recorded in subsidiary ledgers; transactions were not material, either individually or in aggregate. – There are a significant number of intercompany transactions monthly. The transactions are related to transfers of inventory between warehouses and the allocation of marketing costs between the business units. The intercompany […]
1. How would you advise your family members to plan their estates? 2. What concerns could you address through estate planning and what are the components of a comprehensive financial plan?http://www.youtube.com/watch?v=l8w86PBq594What other tips could you give to someone to help them plan their estate?I have provided an example:How would you advise your family members to plan their estates?The very mentioned of estate planning can be […]
Alexandra is a member of the Emirates VIP club, entitling her to use of the Emirates lounge at the at Sydney airport while waiting for a flight. One evening, while Alexandra is getting a drink from the bar, a waiter carelessly spills a tray of drinks onto her expensive laptop, which she left on her seat. When she complains to the club manager, he directs […]
The president of the company you work for has asked you to evaluate the proposed acquisition of a new chromatograph for the firm’s R&D department. The equipment’s basic price is $60,000, and it would cost another $17,000 to modify it for special use by your firm. The chromatograph, which falls into the MACRS 3-year class, would be sold after 3 years for $27,900. The MACRS […]
Nonconstant Growth Stock Valuation Conroy Consulting Corporation (CCC) has been growing at a rate of 24% per year in recent years. This same nonconstant growth rate is expected to last for another 2 years (g0,1 = g1,2 = 24%). If D0 = $1.20, rs = 14% and gL = 8%, then what is CCC’s stock worth today? Do not round intermediate calculations. Round your answer to the nearest cent. $ […]
Internet Corporation is considering the acquisition of Homepage Corporation and has obtained the following audited condensed balance sheet: Assets Current assets 40,000 Land 20,000 Buildings (net) 80,000 Equipment (net) 60,000 Total Assets 200,000 Liabilities and Equity Current Liabilities 60,000 Capital Stock (50,000 shares, $1 par value) 50,000 Other Paid In Capital 20,000 Retained Earnings 70,000 Total Liabilities and Equity 200,000 Internet also acquired the following […]
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