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Accrual income versus cash flow for a period Thomas Book Sales, Inc., supplies textbooks to college and university bookstores. The books are shipped with a proviso that they must be paid for within 30 days but can be returned for a full refund credit within 90 days. In 2014, Thomas shipped and billed book titles totaling $760,000. Collections, net of return credits, during the year totaled $690,000. The company spent $300,000 acquiring the books that it shipped.
a. Using accrual accounting and the preceding values, show the firm’s net profit for the past year.
b. Using cash accounting and the preceding values, show the firm’s net cash flow for the past year.
c. Which of these statements is more useful to the financial manager? Why?
"Leasing Restatements in the Restaurant Industry" Please respond to the following: From the case study, create an argument for the use of principles-based accounting for leases over rules-based accounting under GAAP, based on the financial statement ..
Border Company employs a standard costing system and uses a flexible budget to predict overhead costs at various levels of activity. Calculate the variable overhead spending variance for the most recent year. If the variance is favorable, enter a cap..
Discuss which exposure might be viewed as the most important to effectively manage, if a conflict between controlling both arises. Also, discuss and critique the common methods for controlling translation exposure - Explain why and how a firm's co..
The stock of Big Joe's has a beta of 1.14 and an expected return of 11.2 percent. The risk-free rate of return is 3 percent. What is the expected return on the market? 11.89 percent 8.90 percent 8.20 percent 8.57 percent 10.19 percent
You are contributing to your 401k each year with a goal of having enough in retirement to provide $4,000 per month in today’s dollars. You plan to work 20 more years making monthly contributions to your 401k. Now, using the number you found in part a..
Caan Corporation will pay a $3.22 per share dividend next year. The company pledges to increase its dividend by 6 percent per year indefinitely. If you require a return of 11 percent on your investment, how much will you pay for the company’s stock t..
To calculate the number of years until maturity, assume that it is currently January 15, 2013. Company (Ticker) Coupon Maturity Last Price Last Yield EST $ Vol (000’s) Xenon, Inc. (XIC) 5.500 Jan 15, 2021 94.193 ? 57,363 Kenny Corp. (KCC) 7.130 Jan 1..
Pooh is a country with only two occupations. You can work as a laborer or you can become an entrepreneur, who hires labor and makes profits. To become an entrepreneur, you need a loan of 20,000 pahs (a pah is the unit of currency in Pooh). Suppose yo..
You have $44,524.78 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $270,000. You expect to earn 12% annually on the account. How many years will it take to reach your goa..
Wathers Umbrella Corp. issues 15 years bonds 2 years ago at coupon rate of 7.8%. The bonds make semianual payments. If these bonds currently sell for 105% of par value, what is the YTM?
Define and contrast idiosyncratic and systematic risk and the risk premium required for taking each on. Can beta be helpful in this instance? Explain your answer.
In the early 1990s, the California Air Resources Board (CARB) started planning its “Phase 2” requirements for reformulated gasoline (RFG). RFG is gasoline blended to tight specifications designed to reduce pollution from motor vehicles. CARB consulte..
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