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Questions -
Q1. Jane James owns an appliance store. She on average receives $88,000 worth of appliances per month. She does not like to owe people money and always pays her bills on the day she receives the invoice. Someone told her that if she delayed payment, she could actually increase her profit because the money would be earning interest in her account. She went through her bills and found that she actually had an additional ten days, on average to pay her invoices. She also found that she was earning 2 percent interest on the money she had in her money market savings account. If she delayed payment by the ten days, how much additional interest would she earn for the year?
Q2. A firm has $390,000 in credit sales and $128,000 in accounts receivable. Compute the average number of collection days.
Q3. Using the abswer to the prvious question, how does the numbers relate to the terms of 2/10 net/30?
Q4. You are managing a company that stocks and distributes hardware. The company employs two purchasing agents who receive combined salaries of $92,000. They process six thousand purchase requests per year. Average inventory in storage is $579,000, and the total cost of running the warehouse is $224,000. You are told that the company purchases five thousand hammers per year at a cost of $4.8 per hammer. Using the EOQ formula, how many hammers should be ordered at one time?
In which of instances would a company most likely choose the carryforward option for a net operating loss? The company expects lower earnings in future compared
A $1,000 par value bond has 7 years to maturity. The bond pays $60 a year in interest and is selling for $900. Given a 30% tax bracket, what is the after tax cost of this debt?
What the FRA would be settled by? XYZ entered into a 3x9 forward rate agreement with a financial institution. As per the agreement.
Find What amount of these costs should be capitalized be Grover? Grover had to rearrange the assembly line and remove a wall to install the equipment.
Record the journal entry for the purchase. On March 31, 2018, Hillman sold the floor steam cleaner. Record depreciation up to the date of the sale.
Current rate method and the temporal method. Explain the translation gain or loss in terms of changes in the value of exposed accounts.
What amount of unrealized gain should be reported as a result of the change in the accounting method assuming the shares are currently traded at P65 per share
What is the TAX INCOME for a partnership based off the below Book Income Statement. The income statement (cash basis) per books for the first year
Find What is the country current account balance? A country has exports of 25,000 million dollars, imports of 20,000 million dollars, net transfers from abroad.
The debt has semi-annual coupons, the next coupon is due in six months, and the debt matures in five years. What is Avicorp pre-tax cost of debt
variable manufacturing overhead $18; fixed manufacturing overhead $42; variable selling and administrative expenses $14; and fixed selling and administrative expenses $28. Its desired ROI per unit is $30. Calculate its markup percentage using varia..
Assuming that the book value method was used, what entry would be made? (Credit account titles are automatically indented when the amount is entered)
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