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Metro Bus Company had $400,000 of revenue and $401,000 of expense (including depreciation) for the current year resulting in a $1,000 net loss. All revenues were received in cash. All expenses were paid in cash except for depreciation of $181,000. The Balance sheet reveals $225,000 of Cash and $1,775, 000 of other assets. The Company has no debt and all of the busses are modern - there is no plan to purchase more busses. Although there are sufficient retained earnings, Management has decided to skip the normal $25,000 dividend to the stockholders - "with a $1,000 net loss. Management feels there is not enough cash for the dividend."
What is the Company's Cash flow? What is the difference between cash flow and net income? Evaluate management’s statement: "with a $1,000 net loss. Management feels there is not enough cash for the dividend." Evaluate the plan to skip the dividend.
Describe the advantages and disadvantages of conducting a business in the form of a sole proprietorship.
The following year, 2011, John settled with the insurance company for $2,000. What are John's deductions for 2010 and 2011 based on the above information if (1) the car was used for personal property and (2) business property?
Calculate the receivables turnover ratio and average collection period for both companies. Comment on the difference in their collection experiences.
On January 1, x1, Brown Corp initiated a non-contributory defined benefit pension plan for all six employees in its word processing department. The plan benefit formula provides that each year of service earns each employee an annual retirement benef..
Evaluate the operating income under variable costing and absorption costing for each month
Calculate the present value of a $1,000 zero-coupon bond with five years to maturity if the yield to maturity is 6%.
What factors are likely to drive a firm's outlays for new capital andfor working capital? What ratios would you use to help generate forecasts of these outlays?
Do you think ethical training at the university level will help combat unethical decision making in corporate America? Why? Are there any other professions you think should be held to a higher standard that are not currently held to that standard
Describe the components of the common body of tax law (CBOTL). What role does the U.S. Congress play in creating the tax law? Briefly explain how a tax bill becomes a tax law.
Most CFOs do not have much technical background. However, there are several common sense type of points CFO should keep in mind when discussing technical strategies with the IT staff. Can you name a few?
he market rate of interest 12%. The interest is paid on June 30 and December 31. Find out the price of the bonds at January 1, 2010. Prepare the journal entry to record the issuance by Carla Industries on Jan 1, 2010
Draw up a pro-forma combined cash and bank account, receivables and payables control accounts and all other T-accounts as required for Topsanah for the year ended 31 december 2011.
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