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Ahmed, who is very knowledgeable regarding computers, agrees to purchase computers for Khaled's business. Ahmed is retained at Khaled’s business for that purpose only, he is paid a set rate for the job, and Khaled exercised no control over the manner in which Ahmed did his work. Ahmed purchased computers from HP Computers’ company without any mention of Khaled. The computers worked well and were not defective in any way. Unfortunately, Khaled did not pay HP Computers on a timely basis. Ahmed, therefore, paid HP Computers out of his own pocket because he wanted to be able to do business with HP in the future and also because his name was on the invoice. Ahmed asked Khaled for reimbursement, but Khaled refused, claiming that if Ahmed had only waited, HP Computer might have agreed to take less. 1- Explain Ahmed’s status in regards to his employment with Khaled? 2- Does Ahmed have the right of reimbursement from Khaled? 3- Did Ahmed have any legal liability to HP Computers? Why? 4- At the same scenario, assume that Ahmed was an employee at Khaled’s company. What type of principal Khaled could be?
A large retailer obtains merchandise under the credit terms of 1/20, net 45, but routinely takes 60 days to pay its bills. (Because the retailer is an important customer, suppliers allow the firm to stretch its credit terms.) What is the retailer's e..
Erika and Kitty, who are twins, just received $35,000 each for their 25th birthdays. They both have aspirations to become millionaires. Each plans to make a $5,000 annual contribution to her "early retirement fund" on her birthday, beginning a year f..
David Ortiz Motors has a target capital structure of 30% debt and 70% equity. The yield to maturity on the company's outstanding bonds is 7.20%, and the company's tax rate is 35%. Ortiz's CFO has calculated the company's WACC as 10.95%. What is the c..
Elroy Rocket is entering his senior year as an accounting major and has a number of options for his summer break. His options for the 3 month break follow:
What is the future value of $2,000 in 20 years assuming an interest rate of 7.3 percent compounded semiannually?
Pretopino Corporation produces motorcycle batteries. Pretopino turns out 1,500 batteries a day at a cost of $6 per battery for materials and labor. It takes the firm 22 days to convert raw materials into a battery. Prestopino allows its customers 40 ..
Stock Y has a beta of 1.8 and an expected return of 18.2 percent. Stock Z has a beta of 0.8 and an expected return of 9.6 percent. If the risk-free rate is 5.2 percent and the market risk premium is 6.7 percent, the reward-to-risk ratios for stocks Y..
Southwest physicians a medical group practice in Oklahoma City are just being formed. it will need $2 million of total assets to generate $3 million in revenues. Furthermore the group expects to have a total margin of 5 percent. The group is consider..
Carlyle chemicals is evaluating a new chemical compound used in the manufacture of a wide range of consumer products. The firm is concerned that inflation in the cost of raw materials will have an adverse effect on the projects cash flow. what recomm..
On January 1, 2016, you borrow $100,000, at an effective annual interest of 8%. You intend to pay off the loan via annual level amortization payments – however, your first payment will not occur until December 31, 2019. You will make a total of 20 le..
The IRS is revaluating the asset life categories used for ACRS depreciation. The trucks that JK Industries use are currently classified by the IRS as having an asset life of 7 years. Because these trucks actually last for 10 years, the firm’s manager..
XYZ company has no debt and the cost of equity is 15%. The current value of the firm is $1,000,000 and XYZ can borrow 10%. Assume XYZ pays no tax. Compute the firm value if XYZ borrows $200,000 and uses the proceeds to repurchase shares. Calculate fi..
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