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a. If you could pick a single source of cash for your business, what would it be? Why?
b. How can a business earn large profits but have a small balance in Retained Earnings?
c. How can a business lose money for many years and still have plenty cash?
d. Give two reasons why a business can be profitable for many years and still have a cash shortage?
e. Suppose your business has $80,000 worth of liabilities that must be paid within the next three months. Your liquid (can be turned into cash quickly) assets total only $60,000, your sales and collections from customers are slow. Identify two ways to finance the remaining $20,000 you will need, so you can pay all of the liabilities when they are due
beginning finished goods inventory, $252,000; ending work in process inventory, $220,000; and ending finished goods inventory, $264,000. Utley Manufacturing Company's cost of goods sold for the year is which of the following?
On August 31, a 10% stock dividend was declared and distributed. What is the balance in Common Stock appearing on the statement of stockholders' equity on December 31?
If Blake uses a money market hedge to hedge the payable, what is the cost of implementing the hedge?
Orbit Airways purchased a baggage-handling truck for $41,000. Suppose Orbit sold the truck on December 31, 2008, for $28,000 cash, after using the truck for two full years and accumulating a depreciation of $16,000.
Imagine that the company that you researched uses a third-party accounting system. Assess the level of responsibility of the software provider to both the business and its clients. Provide support for your rationale.
Shipping expense is $9,000 for 8,000 pounds shipped and $11,250 for 11,000 pounds shipped. Assuming that this activity is within the relevant range, if the company ships 9,000 pounds, its expected shipping expense is closest to:
A. Prepare an overhead budget for the expected activity level for the coming year. B. Prepare an overhead budget that reflects production that is 10 percent higher than expected (for both products).
Determine the annual (1) net income and (2) net annual cash flows for the commuter service. Compute (1) the cash payback period and (2) the annual rate of return.
When one segment in a company is losing money, the elimination of that segment will:
Compare and contrast the Fair-Value Method (FAS 115) and Equity Method. When should you use each method and why? What are some of the limitations of the Equity Method?
Assess two major reasons that the Corporate Federal income tax has not been reformed to date, and elaborate on how likely it is to happen in the future. Provide support for your rationale.
Daniel figures that he has loss of $60,000 on each stock. If Daniel's marginal tax rate is 35 percent and he has $120,000 of other capital gains (taxed at 15 percent), what is tax savings from the special tax treatment?
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