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Question 1: Broussard Skateboard's sales are expected to increase by 15% from $8.6 million in 2016 to $9.89 million in 2017. Its assets totaled $3 million at the end of 2016. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2016, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 7%, and the forecasted payout ratio is 65%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Round your answer to the nearest dollar. Do not round intermediate calculations.
Padre, Inc., buys 80 percent of the outstanding common stock of Sierra Corporation on January 1, 2015, for $802,720 cash. At the acquisition date, Sierra's total fair value, including the non-controlling interest, was assessed at $1,003,400 although ..
Discuss the significance and importance of investors (shareholders) as the first tier of the stakeholder hierarchy. The value creation goal of corporate
Calculate the weighted-average number of common shares outstanding during the year and earnings per share. Liberty Ventures Inc reported $350,400 profit in 2020
Compute depreciation expense for 2014 and 2015 using the straight line. Prepare the journal entry to record 2014 depreciation.
Prepare multistep income statements for 2013 and 2014 showing percentages of net sales for each component (e.g., cost of goods sold divided by net sales).
Explain why are financial statements that have been prepared in accordance with GAAP and audited by independent CPA useful for Fidelity's investment analysts?
Evaluate the unit product cost for the month under variable costing and What is the unit product cost for the month under absorption costing?
During February, Degan Inc. transferred $67,000 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $72,000 (assume there was enough beginning balance in the Finished goods inventory account). The journal entries to record the..
Carlos Ramirez and Camila Garza organized New World Book Store as a corporation; each contributed $71,800 cash to start the business and received 5,400 shares of common stock. The store completed its first year of operations on December 31, 2014. Wha..
The Martinez International Company uses a process cost accounting system and a weighted average cost flow assumption. A production department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process...
Identify the typical steps in conducting a forensic accounting assignment. Explain which step(s) you feel are most critical in conducting the assignment.
ACC201 - Financial Accounting Case Study Assignment. Advise the directors how this problem should be addressed in the financial statements
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