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Question - After the accountant of Samaras Co. had prepared the financial statements for the year ended 31 January 2017, the following errors came to light:
1) A motor van purchased at a cost of $12,000, with accumulated depreciation at the beginning of the year of $4,000, had been depreciated at 20% using the reducing balance method rather than the straight-line method of depreciation.
2) The payment of $1,500 for a trade payable had been treated as a cash purchase.
3) Withdrawals by the owner of $3,000 during the year had been treated as part of the salaries and wages expense.
4) Bank charges of $400 during the year had been treated as interest charges. The profit for the year before these errors were discovered was $42,000.
What is the profit for the year after adjusting for these errors?
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
Accounting problems, Draw a detailed timeline incorporating the dividends, calculate the exact Payback Period b) the discounted Payback Period. the IRR, the NPV, the Profitability Index.
Term Structure of Interest Rates
Write a report on Internal Controls
Prepare the bank reconciliation for company.
Create a cost-benefit analysis to evaluate the project
Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR
Distinguish between liquidity and profitability.
Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.
Simple Interest, Compound interest, discount rate, force of interest, AV, PV
CAPM and Venture Capital
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