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Meals for the Homeless has many sources of income, but they pay Meals very differently. Specifically, Meals has contracts with the city, county, and state to provide food services. In addition, Meals has contracted with a private foundation to augment its foods with more healthful options. The city owes Meals $400,000, half of which is current, onequarter is more than 30 days but less than 61 days old, 15% is between 61 and 90 days old, and the remainder is more than 91 days old. The county owes Meals $900,000, only one-third of which is current, another one-third is more than 30 days but less than 61 days old, and the remainder is more than 90 days old. The state owes Meals $1.5 million, 40% is current, 30% is between 30 and 60 days old, 20% is between 61 and 90 days old, and the remainder is more than 91 days old. The foundation owes Meals $150, 000, of which half is current and the other half is more than 30 days but less than 61 days old. Prepare an accounts-receivable aging schedule for Meals by total dollars and percent.
Exchange Rate Risk is an exposure that global company management operating in a global economy has to manage and finds ways to reduce this risk. Discuss something the management can do to minimize this business risk.
Audrey Sanborn has just arranged to purchase a $530,000 vacation home in the Bahamas with a 20 percent down payment. The mortgage has a 5.9 percent stated annual interest rate, compounded monthly, and calls for equal monthly payments over the next 30..
The home improvement store has a washing machine on sale for $601. With the period due in two years from today. The store is willing to discount the price at an annual rate of 9% ( Compounded annually) if you pay today. What is the amount if you pay ..
What will the cost of the vehicle be at the end of three years and you want to save a equal amount at the end of each month for the next three years in order to pay cash for the new vehicle.
The topic addressed in this module is financing international trade. One factor to consider here is the working capital guarantee program. That is, how is this program administered by outside agencies? Your discussion topic is to evaluate the effecti..
Suppose that you will receive annual payments of $21,400 for a period of 22 years. The first payment will be made 7 years from now. If the interest rate is 7.50%, what is the value of the annuity in year 6, What is the current value of this stream of..
You are thinking about buying a home for $120,000 and can put down $20,000. If the lender charges a fixed rate of 6.5% and you want a 30 year mortgage, what is the monthly payment on the $100,000 loan? How much interest do you pay over the life of th..
MLK, Inc. wants to issue new 15-year bonds for some much-needed expansion projects. The company currently has 6.5 percent coupon bonds on the market that sell for $975.00, make semi annual payments, and mature in 15 years. What coupon rate should the..
Melbourne Company manufactures and sells electronic staplers for $16 each. If 10,000 units were sold in December and management forecasts 4% growth in sales each month, the number of electric stapler sales budgeted for March should be:
Your company evaluates proposals using a 2.5-year payback period. You have two alternatives for a new boring machine. Alt. A costs $10,000 and will last for six years. Alt.A will save $5,000 in year one and $2,000 in year two. What savings in year 3 ..
Both Bond Bill and Bond Ted have 11.4 percent coupons, make semiannual payments, and are priced at par value. Bond Bill has 5 years to maturity, whereas Bond Ted has 22 years to maturity. If interest rates suddenly rise by 2 percent, what is the perc..
The contribution margin per unit is equal to the:
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