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Never Again Enterprises has an agreement with The Worth Bank whereby the bank handles $3.12 million in collections a day and requires a $1,000,000 compensating balance. Never Again is contemplating canceling the agreement and dividing its eastern region so that two other banks will handle its business. Banks A and B will each handle $1.56 million of collections a day, and each requires a compensating balance of $1,550,000. Never Again's financial management expects that collections will be accelerated by one day if the eastern region is divided. The T-bill rate is 4 percent annually. What is the amount of the annual net savings if this plan is adopted?
Ron's Pharmacy has collected $600 in sales taxes during the March. If sales taxes must be remitted to state government monthly, what entry will Ron's Pharmacy create to demonstrate the March remittance?
What is the 3-year swap price on corn? Assume interest rates over the next 3 years are 6.2%, 6.5%, and 6.8%. The prepaid swap price is given as $6.50.
Shock Electronics sells portable heaters for 25 dollar per unit, and the variable cost to produce them is $17. Mr. Amps estimates that the fixed expenses are $96,000.
Jarel purchased 80% of the outstanding voting stock of Suarez for $260,000. Of this payment, $20,000 was allocated to equipment that had been undervalued on Suarez's books by $25,000.
Which of the following actions would improve this ratio? (Hint: create a simple balance sheet that has a current ratio of 0.5. Then, judge how the transactions below would affect the balance sheet.)
What does a flexible budget performance report do that a simple comparison of budgeted to actual results does not do? What should be the consequences of a department or division that exceeds the spending budget for their product line?
Computation of present value of an investment and present value if you receive these payments at the beginning of each year rather than at the end of each year
The tax rate is 34 percent and the current cost of equity is 17.2 percent. What is the value of the levered firm?
claims the firm bondholders; preferred stockholders, common stockholders and federal income taxes? of the claims mentioned, what priority would common stockholders have?
Rose Axels faces a smooth annual demand for cash of $5.07 million, incurs transaction costs of $282 every time the company sells marketable securities, and can earn 5.0 percent on its marketable securities.
What do we mean by "Optimal Capital Structure" and what's the relationship between Optimal Capital Structure and Cost of Capital?
You find a certain stock that had returns of 16 percent, -9%, 23%, and 24% for four of the last five years. The average return of the stock over this period was 14.40 percent.
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