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The budget scenario consists of actual and budgeted figures. Assume that Eastside Urgent Care Clinic anticipated that it would provide 2,500 flu shots in 2010 to noninsured patients at $10 per shot. The revenue and expenses were budgeted for 2,700 flu shots in 2010 to noninsured patients. The budgeted expenses were $5,000. Assume that the clinic provided only 2,455 flu shots to noninsured patients, or 98%. The actual expenses were $4,500. Calculate the following: • Static budget variance • Revenue • Expenses • Excess of expenses over revenue Please show work and explain
Two identical firms, A and B, have the same revenue of $10 million and equal variable and fixed costs for the current year. At the start of the year, they both owned $20,000,000 in equipment which follows a depreciation schedule of 5% per year. They ..
If the market rate of interest on each bond fell from 10 percent to 7 percent and the durations found in part (a) remained constant, what would be the new price for each bond?
Suppose the returns on long-term government bonds are normally distributed. Assume long-term government bonds have a mean return of 6.7 percent and a standard deviation of 10 percent. What is the probability that your return on these bonds will be le..
A trustworthy businessman, who has a sound reputation in importation of fruits and vegetables is looking to expand his business, but doesn’t have sufficient capital. On the expansion, he is willing to use his expertise if he can find someone to help ..
A company's common stock is currently selling for $54 per share. Last year, the company paid dividends of $2.98 per share. The projected growth at a rate of dividends for this stock is 4.93%. Which rate of return does the investor expect to receive o..
Brighton Corp. bought an oil rig exactly 6 years ago for $119,000,000. Brighton depreciates oil rigs straight line over 10 years assuming no salvage value. (Straight line depreciation means that the yearly depreciation will be the purchase price of t..
Elaine Romberg prepares her own income tax return each year. A tax preparer would charge her $80 for this service. Over a period of 9 years, how much does Elaine gain from preparing her own tax return? Assume she can earn 4 percent on her savings. Us..
The PDC Company was described during the early part of this chapter. Refer to the PDC Company’s projected monthly operating schedules in Table 6.2. PDC’s sales are projected to be $80,000 in September 2014. Compare your balance sheet at the end of Au..
A US investor has $10 million to invest in interest-bearing securities for one year. He can invest in US dollars at 2 ¾ % p.a. or in pounds sterling at 4 ½ % p.a. The current spot rate (American terms) is 1.8172 dollars per pound. At what spot rate o..
Suppose that a firm’s recent earnings per share and dividend per share are $2.90 and $1.90, respectively. Both are expected to grow at 9 percent. However, the firm’s current P/E ratio of 28 seems high for this growth rate. The P/E ratio is expected t..
Company Z raises 30 on 40 with VC taking convertible preferred with a conversion price equal to the current share price implied by post money valuation. What would VC get in following cases: Value of company at exit is $$20M; 50M; $90M; $300M. What w..
With a Series EE bond, you pay a particular amount today of, say, $25, and the bond accrues interest over the time you hold it. In early 2012, the U.S. In 2022, instead of cashing the bond in for its then current value, you decide to hold the bond un..
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