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Austin Co. established a petty cash fund by issuing a check for $270 and appointing Steve Mack as petty cash custodian. Mack had vouchers for the following petty cash payments during the month: Stamps $47 Miscellaneous items 21 Employee supper money 62 Taxi fare 42 Window-washing service 78 There was $17 of currency in the petty cash box at the time it was replenished. d. Record the effects of the events in Requirement a on the financial statements using a horizontal statements model like the following one. (In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Use NA to indicate that an account was not affected by the event. Enter any decreases to account balances with a minus sign.)
Preferred stock has all but which of the following characteristics? A. No stated maturity. B. Preferred lacks the ownership privilege of common stock. C. The same binding contractual obligation as debt. D. A fixed dividend payment that carries a high..
Oriole Industries has $10 million in outstanding bonds that are selling for 99 percent of par value. The bonds pay an annual coupon of 9 percent and mature in 10 years. What is Oriole Industries' pre-tax component cost of debt?
An investment offers $7,000 per year for 20 years, with the first payment occurring 1 year from now. Assume the required return is 10 percent. What would the value be today? A financial security pays $2 next year, $4 the year after that, then $2, the..
If you buy a put option on a $100,000 dollar Treasury Bond futures contract with an exercise price of 95 and the price of the Treasury Bond is 120 at expiration, is the contract in the money, out of the money, or at the money? What is you profit or l..
Assume a particular stock has an annual standard deviation of 34 percent. What is the standard deviation for a three-month period? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign ..
Snort and Smiley incorporated has a debt ratio of .42, noncurrent liabilities of 20,000, total asset of 70,000. What is snort and smiley's level of current liabilities? The answer is 9,400. I need the work to get to this answer.
The company's policy is toadjust the corporate cost of capital up or down by 3 percentage points to account for differential risk. Is the project financially attractive?
Rex is an achievement-oriented individual. His firm always uses him during time crunches, as he is one of the most dependable members of his team. He sets goals that lead him to demonstrate high levels of performance. In this scenario, which of the f..
An injection mold machine has an initial cost of $25,000 and can be sold at any time during its first 4 years of service for $10,000. The salvage value of the machine decreases by $2,000 every year after that. The maintenance costs for this machine a..
Consider the following two mutually exclusive projects: Year Cash Flow (A) Cash Flow (B) 0 –$ 355,000 –$ 47,500 1 40,000 23,500 2 60,000 21,500 3 60,000 19,000 4 435,000 14,100 Whichever project you choose, if any, you require a 15 percent return on ..
An insurance contract on a 30 years person will pay 30000 at the moment of death to (30)'s beneficiaries. Calculate the actuarial present value, variance of the present value of the benefit.
Relate your thoughts to the fundamental "valuation" concepts discussed in the readings for bonds and stocks.
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