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Flint Hills Company's most recent financial statements showed dismal performance. There was a net loss of $10,000 and the Statement of Cash Flows showed a net cash decrease in all categories. The company president called all the managers together and asked them to do all they could to make sure the next quarter's Statement of Cash Flows performance was better.
Ed Gray, manager of the manufacturing division, sold off old manufacturing equipment. He also reclassified several workers to part time (30 hours per week) and hired additional temporary workers to take up the slack. This saved the company money, since part-time workers do not have the same insurance and other benefits as full-time workers.
Mike Cane, financial manager, immediately suspended payments on all accounts except those on which interest would accrue. He also instituted aggressive collection procedures.
Required:
1. Discuss Ed Gray's actions.
2. Discuss Mike Cane's actions.
3. Discuss the company president's actions.
scott equipment organization is investigating various combinations of short- and long-term debt in financing assets.
Micro spinoffs,Inc issued an 20-year-old debt a year ago at par value with a coupon rate of 8 percent, paid annually. Today, the debt is selling at $1050. If the firm is tax bracket is 35 percent, what is its after-tax cost of debt?
What is the importance of defining the population when performing audit procedures? How would defining the population affect the sample size? How would incorrectly defining the population affect the sampling unit? (100 words)
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Suppose Christopher Beasley deposited a $1,000 in a bank that pays him 8% compounded quarterly. How much will the bank owe him at the end of one year and then the 2^nd year? The Wendell's son will need $17,000 in 5 years to help pay for his colleg..
Recovery of working capital will be $10,000 at the end of its useful life. Annual cash savings from the purchase of the machine will be $20,000. a. Compute the net present value at a 12% required rate of return?
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