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Estimating Sales Revenue
First City Bank (FCB) has $30 million in commercial loans with an average interest rate of 6 percent. The bank also has $24 million in consumer loans with an average interest rate of 8 percent. Finally, the bank owns $4.5 million in government securities with an average rate of 7 percent.
FCB estimates that next year its commercial loan portfolio will fall to $28 million, and the interest rate will fall to 5.5 percent. Its consumer loans will expand to $25 million with an average interest rate of 8.5 percent, and its government securities portfolio will increase to $6 million with an average rate of 6.5 percent.
Instructions:
Estimate FCB’s revenues for the coming year.
For each of the followig separate cases prepare adjusting entries required of financial statements for the year ended (date of) December 31, 2013.
Your personal time value of money/interest rate is 5%. Which payment option has the greatest present value?
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The service period related to these restricted shares is 3 years. Vesting occurs if the upper level executives stay with Lebron Corp for 3 years.
Financial management and accounting processes
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