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Broussard Skateboard's sales are expected to increase by 20% from $8.8 million in 2016 to $10.56 million in 2017. Its assets totaled $6 million at the end of 2016. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2016, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 7%, and the forecasted payout ratio is 55%. What would be the additional funds needed? Do not round intermediate calculations.
What is earnings management? How can earnings management affect the quality of earnings? What is the major distinction (a) between revenues and gains and (b) between expenses and losses? How should correction of errors be reported in the financial st..
Holcomb Company reported these income statement data for a 2-year period. 2014 2013 Sales revenue $337,750 $283,710 Beginning inventory
How many shares of common stock are issued in exchange for the bonds? Is there a gain or loss on conversion, and if so, how much is it?
The Tijama Manufacturing Company has determined the cost of manufacturing a unit of product to be as follows, based on normal production of 50,000 units per year: Direct materials $20.00 Direct labor 15.00 Variable factory overhead 10.00 $45.00 Fixed..
The Silver Center (TSC) produces cups and platters. TSC purchases silver and other metals that are processed into silver alloy that is used to make platters and cups. TSC incurred $40,000 of materials cost and $44,000 of labor cost to produce the sil..
calculate the prime and conversion costs for the month Prime?
Steelman Company acquired a new machine for $172,000 and estimated it would have a useful life of 10 years and residual value of $9,500
What is the impact of this method of creating the profit-and-loss statement on management decision making - what is the impact of this method of creating the profit-and-loss statement on business performance
Benson Inc.'s accounting records reflect the inventories: During 2013, Benson purchased $1,160,000 of raw materials, incurred direct labor costs of $200,000, and incurred manufacturing overhead totaling $128,000. How much raw materials were transferr..
Understand why organizations budget and the processes they use to create budgets, and recognize situations that present potential ethical and legal issues and develop solutions for those issues.
Liz contributed $80,000 of cash and land with a fair market value of $90,000 and an adjusted basis of $75,000. John contributed equipment with a fair market value of $170,000 and an adjusted basis of $20,000. John had previously used the equipment in..
Fortress Inc. manufactures pistons for custom motorcycles within a relevant range of 300,000 to 375,000 pistons per year. Within this range, the following partially completed manufacturing cost schedule has been prepared: Complete the cost schedul..
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