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Sydco is in the bowling ball industry and you are interviewing for a position as chief accountant in their Dallas office. In order to assure the management staff that you are qualified for the job, one of the tasks they have asked you to do is an evaluation of useful data into a form that can be used by all of management. You have been given the following information: Sydco Summary Gross Income $ 360 Depreciation Expense $ 81 Tax Rate 40% After Tax Cost of Capital 9% Operating Income $ 30 Interest Expense $ 8 Current Assets $ 196 Net Plant and Equipment $ 126 Current Liabilities $ 87 Your task is to answer all of the questions below. Questions: Address all of the following questions in a brief but thorough manner.
• What was net income for the period?
• What was the company’s net operating profit after tax?
• What was the company’s operating cash flows?
• What was the company’s net cash flow?
• How would you assess the firm's financial condition, assuming these numbers are accurate?
Somer Co. had these transactions during the current period: June 12 Issued 60,000 shares of $1 par value common stock for cash of $300,000
You are hoping to buy a house in the future and recently received an inheritance of ?$24,000. You intend to use your inheritance as a down payment on your house. a.If you put your inheritance in an account that earns 7 percent interest compounded? an..
King Company owns a 90 percent interest in the outstanding voting shares of Pawn Company. No excess fair-value amortization resulted from the acquisition. Pawn reports a net income of $110,000 for the current year. Intra-entity sales occur at regu..
Waggoner would like to take the maximum depreciation deduction possible. Determine Waggoner’s maximum depreciation deduction for 2015.
Dozier's weighted average cost of capital is WACC=13% Suppose Dozier has $10 million in marketable securities, $100 million in debt and 10millioin shares of stock. What is inintrinsic price per share?
Prepare the journal entry to establish the petty cash fund and At the end of April, the fund had $28 in it. The petty cash custodian presented receipts
Record the acquisition of the net assets of Crow Company on Bart Company's books. Record the sale of the net assets on the books of Crow Company.
Nice Lawn sells lawn ornaments online to other businesses. Nice Lawn customers place an online order. Nice Lawn processes the customer order by verifying with the accounting department that the customer's credit is in good standing with the company (..
Prepare a pro forma balance sheet and income statement providing the assumptions made and support the valuations assigned.
your friend comments i just ignore the income statement when im making an investment decision. all i care about is the
What are the current profit margins on both trips? Describe two ways that Take-a-Break Travel could cut its costs to get the profit margin back to their original levels.
ABC uses the perpetual method for inventory and record purchases at gross. in 2014, it has a total merchandise purchases of $324,000. It returns $19,000 of the merchandise for full credit and receives $7,000 in allowances from its vendors for defecti..
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