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DeFusco Partners uses a rule-based model to manage its cash position. It has established a minimum cash balance of $200,000, a maximum cash balance of $800,000, and a return point of $400,000. The cash balance is currently $400,000. Whenever the daily cash balance reaches or falls outside of the control limits, DeFusco will purchase or sell marketable securities to bring the cash balance to the return point. Given the daily cash flows below (in $1,000s), calculate any needed security purchases or sales and the ending daily balance.
Day 1 2 3 4 5 6 7 8 9 10Cash flow -50 -75 -225 300 100 0 -50 -50 -175 50Day 11 12 13 14 15 16 17 18 19 20Cash flow 50 450 200 50 -50 -100 -25 -25 -100 -100
Kleinfeld Manufacturing sponsors a defined-benefit pension plan. The corporation’s actuary provides the following information about the plan. Include in the worksheet the calculation of pension expense, prior service cost amortization, actual/expecte..
you are a audit partner with feeble and stressed cpas. one of your audit clients is greasy oil inc. the company is a
On February 1, 2015, Pat Weaver Inc. (PWI) issued 8%, $1,800,000 bonds for $2,100,000. PWI retired all of these bonds on January 1, 2016, at 102. Unamortized bond premium on that date was $183,600. How much gain or loss should be recognized on this b..
It can be argued that whether a company pays or does not pay dividends; it is irrelevant to the value of the firm. State some of those arguments do you concur with these arguments or do you disagree?
Pick a position that executive pay is or is not excessive and support your reasons. Describe at least three possible alternatives to executive compensation and rank its merit of being implemented.
nbsppreparation of bank reconciliation statement.prepare a bank reconciliation as of august 31 from the following
How do you take a known dollar value such as $240.00, back out the sales taxes from the known values using the States sales tax
When an auditor reports on financial statements prepared on an entity’s income tax basis, the auditor’s report should:
Prepare journal entries to record (a) the issuance of bonds on Jan. 1, 2011; (b) the first interest payment on June 30, 2011; and (c) the second interest payment on Dec. 31, 2011.
The plant and equipment had a further 5-year life and is depreciated on a straight line basis. The differences between carrying amounts and fair value on acquisition date are adjusted on consolidation. Geraldton Ltd uses the partial goodwill metho..
Prepare the January 1 & December 31 general journal entries for Flip Company- How much should the Flip Company report on the balance sheet for the investment in Flimsy as the end of 2014
In year 3, the entity earns operating income of $200,000 and distributes all of that year's after-tax proceeds to the owners. What amount of cash is available to Charles if the entity operates as a corporation? A partnership?
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