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You are the assistant manager at a local restaurant and you get paid every 2 weeks by direct deposit into your savings account. This account pays no interest and has no minimum balance requirement. Your monthly income is $6,000. You have a target cash balance of approximately $1,000; whenever it exceeds this amount you transfer the excess into your mutual fund account which pays approximately 1% annual interest. Your current mutual fund account balance is $10,000. You estimate that you transfer approximately $800 per month from your 0% interest savings account into your mutual fund account. Your monthly bills average $1,200 and you usually pay your bills on receipt. Your monthly cash outlay on food, fuel, rent, and other sundry items is $4,000. Reviewing your payment habits indicates that on average you pay bills 9 days early. At this time, most marketable securities pay an annual interest rate of 4%.
Problem 1: Discuss how you can better manage your cash balances. Explain what you can do regarding your current mutual funds account balances, and your monthly surpluses.
What are the sustainable growth rates for your subject company over the period that you studied? How do they compare with the actual growth rates that the company experienced over the period studied?
The joint bankruptcy filing of GGP and most of its SPEs has apparently allowed GGP to successfully reorganize much of its debt and repay all of its obligations, while retaining substantial value for its equity holders. Explain whether you agree or..
A 30- year bond has a face value of $5,000.00 and it pays dividend every 2 months at a nominal interest rate of 12%. You purchased the bond for $4, 800.00 at a given time. After 3 years you decided to sell it. What is your selling price if you earned..
What is Alvear Corp.'s Operating Income for the year ended 12/31/2015 after correcting the mistakes? What was Clarke's Cash Flow from Operations
Hickock Mining is evaluating when to open a gold mine. The mine has 51,300 ounces of gold left that can be mined, and mining operations will produce 5,700
Identify Castner’s value-added production activities. Identify Castner’s non-value-added production activities. Calculate Castner’s total cycle time. Determine Castner’s manufacturing efficiency ratio.
What is the new owner's yearly tax savings if she uses straight line depreciation of the purchase price over the full 15 years allowed by the IRS?
The tax agency fund of Orange County collected $7,000,000 for a private school district; $3,000,000 for the county General Fund; and $5,000,000 for a town located in the County. County General Fund employees handle the collections, and a 2.5 percent ..
What will be the journal entry for under GAAP. AN employee launched a wrongful dismissal suit against H&L for $ 150,000.H&L lawyers have indicated
Evaluate what type of lease this would be for the lessee and compute the initial obligation and prepare all journal entries for Sally, Inc. for 2012. suppose a calendar year fiscal year.
A company's cash flow on total assets ratio equals 16%. If average total assets equal $2,937,500 and total cash flows equal $600,000, illustrate what is the amount of cash flows from operations?
The estimated amount of uncollectible accounts receivable at the end of the period is $30,000. Frito should make the following adjusting entry
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