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Ellis Sports Shop projects the following sales: April $75,000 May $95,000 June $110,000 Ninety percent of Ellis' sales are on credit with 60 percent of receivables collected in the month after the sale and the rest of receivables collected in the second month after the sale. February sales were $60,000 and March sales were $70,000. In the past Ellis' bad debt percentage has been 0 and is expected to continue. a) Prepare a monthly schedule of cash receipts for April-June. b) What is the balance of Receivables at the end of June? February March April May June Sales Credit Sales Collections: Cash (10% of Sales) 60% first month after sale 40% second month after sale Total Receipts Receivables at the End of June 90% of June Sales 40% of May Credit Sales Total.
A 5-year corporate bond with a 6.8% coupon rate is trading at $952.63. Assuming semi-annual coupon payments: (i) estimate the yield to maturity on this bond
Berkley Trucking recently purchased a new truck costing $147,800. The firm financed this purchase at 7.6 percent interest with monthly payments of $2,100. How many years will it take the firm to pay off this debt?
That annualized rate now stands at 3%. On the basis of the information that Carl has collected, what estimate can he make of the real rate of return?
Fama's Llamas has a WACC of 10.2%. The company's costs of equity is 14%, and its pertax cost of debt is 8.4 percent.
Winslow Enterprises has total assets of $11,700, net working capital of $1,400, owner's equity of $5,000 and long-term debt of $3,500. Determine the value of the current assets?
The machines have a 6-yr life after which they are worthless. Illustrate what is the equivalent annual cost of one of these machines if the required return is 16 percent.
The following data reflects cash flow & other activities of Framer Company for 6-months ended June 30
What is an agency relationship? When you first begin operations, assuming you are the only employee and only your money is invested in the business, would any agency conflicts exist? Explain your answer.
Lexicon Corporation purchased a patent for $600,000 on January 2, 2001, at which time the patent had an estimated useful life of ten years.
Your sister, who is 6 years old, just received a trust fund that will be worth $22,000 when she is 21 years old. If the fund earns 10% interest compounded annually, what is the value of the fund today? Note: write your answer to two decimal places..
Amax Manufacturing Corporation collects $225,000 each day. The cash manager has just been told of a new collection system using lockboxes that could reduce collection float from seven days to six days by decreasing mail and processing float a total o..
You recently sold an antique car you owned and valued greatly. However, you needed money and agreed to sell the car at a price of $48,000, to be paid in monthly payments of $1,200 each for 48 months. What interest rate did you charge for financing..
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