Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The most recent financial statements for Moose Tours, Inc., follow. Sales for 2003 are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, and accounts payable increase spontaneously with sales. If the firm is operating at full capacity and no new debt or equity is issued, what is the external financing needed to support the 20 percent growth rate in sales?
MOOSE TOURS, INC.
2002 Income Statement
Sales
$980,000
Costs
770,000
Other expenses
14,000
Earnings before interest and taxes
$196,000
Interest paid
23,800
Taxable income
$172,200
Taxes (35%)
60,270
Net income
$111,930
Dividends
$44,772
Addition to retained earnings
67,158
Balance Sheet as of December 31, 2002
Assets
Liabilities and Owners' Equity
Current assets
Current liabilities
Cash
$ 28,000
Accounts payable
$ 70,000
Accounts receivable
49,000
Notes payable
7,000
Inventory
84,000
Total
$ 77,000
$161,000
Long-term debt
$168,000
Fixed assets
Owners' equity
Net plant and
Common stock and paid-in surplus
$ 21,000
equipment
$385,000
Retained earnings
280,000
Total assets
$546,000
$301,000
Total liabilities and owners' equity
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd