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A firm estimates sales of $150,000 in December, $175,000 in January; $125,000 in February, $200,000 in March, $250,000 in April; $180,000 in May; and $200,000 in June. November sales were $125,000. The firm typically collect 20% of its sales in cash; 50% are accounts receivable paid the month after the sale; and 30% are accounts receivable paid two months after the sale. The firm’s cost of goods sold (raw materials) amounts to 70% of its sales. The raw materials are ordered two months in advance of expected sales, but are paid for one month after they are ordered. The firm has fixed costs of $3,000 per month for rent and $12,000 per month for other fixed operating costs. The firm has $30,000 per month in salary expense. Assume a starting cash balance of $0 but a minimum cash balance of $10,000 going forward. Prepare the cash budget for January through April. What is the maximum amount of short-term loan the firm will need during the relevant time period?
Mythic Motors issued 8% coupon bonds that have 5 years to maturity. the bonds make semi-annual payments. If the yield to maturity on these bonds is 6%, what is the current price of the bonds?
Crown Honda purchased one of its most popular motorcycle models for 965,000 yen. The FX rate for the yen was 142 yen per dollar at the time of purchase, but then rose to 171.8 yen by the time payment was made. What was the dealer’s gain or loss on th..
When coupon rates exceed market rates, bonds will sell at a premium. When market rates exceed coupon rates, bonds will sell at a premium. When coupon rates exceed market rates, bonds could sell at either a premium or a discount. Bonds will always sel..
Assume that interest rate parity holds and that 90-day risk-free securities yield 3% in the United States and 3.6% in Germany. In the spot market, 1 euro equals $1.38 dollar. Is the 90-day forward rate trading at a premium or discount relative to the..
A 6.4 percent corporate coupon bond is callable in five years for a call premium of one year of coupon payments. Assuming a par value of $1,000, what is the price paid to the bondholder if the issuer calls the bond?
An excel Operating Budget template utilizing this format, with some notes and a partial utilities analysis, has been provided - summary of the budget and the operating, contingency and reserve funds.
Accounting Advice." Brad, a newly hired Certified Public Accountant, who barely passed his boards, was asked by a business client, a chief executive officer, about the effect of the Sarbanes-Oxley Act on an accounting issue. An employee at the compan..
FCFs for year 1,2, and 3 are $20, $23, and $25 for a certain firm. The required rate of return for stock is 8%. Assume the firm’s life is 3 years then what should the stock price of this firm? This firm has $1 of debt and $1.5 of preferred stock. Num..
A company using activity based pricing marks up the direct cost of goods by 0.28 plus charges customers for indirect costs based on the activities utilized by the customer. Indirect costs are charged as follows: $7.60 per order placed; $2.30. per sep..
Suppose you had held a portfolio consisting of 50% of Stock A and 50% of Stock B. Calculate the standard deviation of returns for each stock for the portfolio. Year rA rB 2009 -30.00% -7.50% 2010 63.00% 22.50% 2011 30.00% -19.50% 2012 -12.00% 75.00% ..
Sherry took out a $70 000 loan amortixed by payemnts of $2200 at the end of every 3 months at 7% compounded quarterly. Counstruct an amortization schedule for the last 2 payments. Determine the total amount paid to settle the loan. Determine the tota..
The common stock of Eddie's Engines, Inc. sells for $45.08 a share. The stock is expected to pay $3.50 per share next year. Eddie's has established a pattern of increasing their dividends by 5.6 percent annually and expects to continue doing so. What..
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