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Cash — Internal Controls Over Cash in Your Life
Provide an original and substantive response to the questions posed in your Journal in a minimum of 200 words.
Cash presents unique risks and internal control issues due to the high liquidity and high volume of transactions. We all make purchases at retail outlets, probably several times each week.
Think about your recent purchases at a gas station, grocery store, movie theatre, restaurant, etc. Pick two of your recent cash (debit/credit, check, etc.) transactions.
Discuss both the risks presented in processing your transactions as well as the controls you noticed (or would expect to find) in those establishments to safeguard your purchase.
Suppose the spot and six-month forward rates on the Norwegian krone are Kr 5.83 and Kr 5.98, respectively. The annual risk-free rate in the United States is 3.63 percent, and the annual risk-free rate in Norway is 5.33 percent.
The sales for October, November and December are $20,000, $24,000 and $36,000, respectively. For any particular month of sales, the following percentages are received over time in cash: 10% in cash from that same month of sales; 60% in cash from the ..
Klausenheimer has earnings before interest and taxes of $1,500,000. The book and the market value of debt is $1.7million. The unlevered cost of equity is 15.5 percent while the pre-tax cost of debt is 8.6 percent. The tax rate is 38 percent. What is ..
Assume that Hampshire Co. has net payables of 200,000 Mexican pesos in 180 days. The mexi can interest rate is 7% over 180 days, and the spot rate of the Mexican peso is $.10. Suggest how the U.S. firm could implement a money market hedge. Be precise..
Describe the basic features and characteristics of bonds. How can bonds be secured? What is the difference between a callable bond and a convertible bond?
Which of the following was originally a defence alliance?
An investor recently purchased a corporate bond which yields 11.5%. The investor is in the 36% combined federal and state tax bracket. What is the bond's after-tax yield?
Which of these are assumptions of the Modified Accelerated Cost Recovery System (MACRS)?
Capital Structure- Kirsten Neal is interested in purchasing a new house given that mortgage rates are at a historical low. Her bank has specified rules regarding an applicant’s ability to meet the contractual payments associated with the requested de..
Dewey Cheetham and Howe Accounting firm is considering the purchase of $1,000 New Haven Muncipal Bond. The stated coupon rate is 5%, paid quarterly. The bond will matuure in 22 years. The YTM for similar bonds is 4%. What should be the market price b..
tre-bien bakeries generated net income of 233412 this year. at year end the company had accounts receivables of 47199
During the year, Belyk Paving Co. had sales of $2,392,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,433,000, $435,800, and $490,800, respectively. In addition, the company had an interest expense of $2..
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