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Assume that Kelly Giard of Clean Air Lawn Care decides to launch a new retail chain to market electrical mowers.This chain, named Mow Green, requires $500,000 of start-up capital.Kelly contributes $375,000 of personal assets in return for 15,000 shares of common stock, but he must raise another $125000 in cash.There are two alternatives plans for raising the additional cash.Plan A is to sell 3,750 shares of common stock to one or more investors for $125,000 cash.Plan B is to sell 1,250 shares of cumulative preferred stock to one or more investors for $125,000 cash (this preferred stock would have a $100 par value, an annual 8% dividend rate and be issued at par)
1.If the new business is expected to earn $72,000 of after-tax net income in the first year, what rate of return on beginning equity will Kelly earn under each alternative plan? Which plan will provided the higher expected return?
Imagine that the company that you researched uses a third-party accounting system. Assess the level of responsibility of the software provider to both the business and its clients. Provide support for your rationale.
Wecker Company's year-end unadjusted trial balance shows accounts receivable of $89,000, allowance for doubtful accounts of $500 (credit), and sales of $270,000. Uncollectibles are estimated to be 1.5% of accounts receivable. a) Prepare the Decemb..
Gains and losses on the purchase and resale of treasury stock may be reflected only in:
The partnership agreement of Jones, King, and Lane provides for the annual allocation of thebusiness's profit or loss
ROSS is considering a $6M Series A investment in Newco. ROSS proposes to structure the investment as 3M shares of convertible preferred stock.
The Winnipeg Chemical Company uses flexible budgets and a standard cost system. Prepare an analysis of all variances
Using the successful efforts method of accounting for oil and gas exploration costs, how much exploration expense would be shown in Exploratory's income statement for 2013?
At the end of the year the marketable securities that Henderson purchased in transaction 7 were now worth $11,500.
Prepare journal entries to record these transactions and adjustments for 2008 and 2009.
what are the various strategies behind selected low e.g. zero or high coupon rates when issuing
a company borrowed 50000 cash from the bank and signed a 6-year note at 7. the present value factor for an annuity for
Quillen Company is performing a post-audit of a project completed one year ago. The initial estimates were the project would cost $250,000, would have a useful life of 9 years, zero salvage value, and would result in net annual cash flows of $46,0..
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