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Lonergan Company infrequently uses its accounts receivable to get immediate cash. At the end of June 2013, the company had accounts receivable of $780,000. Lonergan needs just about $500,000 to capitalize on a unique investment opportunity. On 1st July, 2013, a local bank offers Lonergan the subsequent two alternatives: a. Borrow $500,000, sign a note payable, and assign the whole receivable balance as collateral. At the end of each month, a remittance will be made to the bank that equals the amount of receivables collected plus 12 percent interest on the unpaid balance of the note at the starting of the period. b. Transfer $550,000 of specific receivables to bank without recourse. The bank will charge a 2 % finance charge on the amount of receivables transferred. The bank will collect receivables straight from customers. The sale criteria are met.
during the year just ended kerry companys income under absorption costing was 3000 lower than its income under variable
qevans ltd. publishes a monthly newsletter for retail marketing managers and needs its subscribers to pay 50 in advance
Why would the manager do this and what is the harm to the company and what should Ace do, and why?
Proceeds from expected equipment sales each year are expected to amount to $10000. Annual payments of $81171 on the loan also begin in 2010. The beginning cash balance in 2010 was $20000.
What is the name of the company? What is the industry sector and what are the operating risks of the company and what is the financial risk of the company (the debt to total capitalization ratio)?
cartwright inc. has 1000000 of 10 percent bonds outstanding on december 31 20x8. on 1st january 20x9 adam corp. an
Prepare a 500-750 word written response to the following: In January 2010, Salem Corporation, purchased $350,000 of new MACRS 5-year property in the US. This equipment was placed in service May 1, 2010. Salem wants to take as much depreciation in ..
Discuss the actions of Leo in relation to the new company. Does the new company have to pay the lease and if so what would be the procedure?
What is the breakeven point in (a) sales units and (b) sales dollars and how many units must Peerless Company sell to earn a profit of $600,000 per year?
Evaluate the cost will be recovered from future sales
1) Show how the lessor determines the lease payment; 2) Prepare the appropriate entries for both the lessee and the lessor from the inception of the lease through the return of the equipment back to the lessor.
Determine net operating income after tax (NOPAT) and net income for each alternative and compute return on common shareholders" equity for each alternative (use ending equity).
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