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Food cash management is an essential job of the financial manager! You own a small auto sales business called King Kars. You stock up on inventory in February, April, June, and September. Your annual cash budget indicates that your MONTHLY NET CASH for the year will be the following:
JAN $5,000
FEB -$30,000
MAR $20,000
APRIL -$35,000
MAY $25,000
JUNE -$10,000
JULY $25,000
AUG $25,000
SEPT -$30,000
OCT $15,000
NOV $15,000
DEC $25,000
Point 1: You begin the year with a cash balance of $50,000, and the minimum cash balance desired must be $50,000 every month. Make a cash flow summary and external financing summary as noted in the Excel spreadsheet assigned to.
Question 1: Do you believe that the company needs outside financing?
Question 2: What is the minimum line of credit to request from a lender?
Question 3: Do you think you are a good candidate for the line of credit? Why or why not?
Powder Corporation began operations on January 2, 2013, with a total investment of $150,000 by its stockholders. Net income for its first year of business was $90,000. During 2014 and 2015, net income increased to $188,000 and to $217,000, respective..
FINA 314: Suppose that you deposit $200 at the end of each month into an account paying an expected annual rate of return of 3%, compounded monthly. How much money will you have in the account in 10 years?
Discuss the company's liquidity from the viewpoints of the long-term creditors and the stockholder's
What was the amount of cash payments to stockholders during the year?
Ned Thompson Labs performs tests on super alloys, titanium, aluminium, and most metals. Tests on metal composites that rely upon scanning electron microscope results can be subcontracted or the labs can purchase new equipment.
What amount could Ray include in his gross income from receiving the life insurance proceeds? The insurance company paid Ray $16,000 interest on the life insurance proceeds through the period Carin's estate was in administration.
Prepare a bank reconciliation at July 31 and journalize the adjusting entries at July 31 on the books of Family Video Company.
Prepare the journal entries related to the contract.
Direct Labor Variances The following data relate to labor cost for production of 20,000 cellular telephones: Actual: 8,450 hrs. at $22.50 Standard: 8,400 hrs. at $23.00 a. Determine the direct labor rate variance, direct labor time variance, and tota..
Determine what the net income would have been if the allowance method had been used, and the company estimated that 13/4% of net sales would be uncollectible.
In order to help induce Jill Gregory to remain as president of the Reed Company, in 2000 it promises to pay her (or her estate) $200,000 per year for the next 15 years—even if she leaves the company or dies. Reed wants to ascertain if it can offset t..
Would a merger or acquisition affect Mr. Jones’ ability to change Smithon’s fiscal year-end to a calendar year-end? Could Smithon be converted to an S corporation?
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