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Banks have receivables that are the result of investing activities rather than sale or trade. We call these signed documents notes receivable. That being said, notes receivable also have to set up an "allowance for loan losses" which works just like the allowance for doubtful accounts. Most banks earn a return of only 1% on their total assets. More than 50% of those assets are usually in loans.
Picture a bank that has $1 billion in total assets, $500 million in loans, and normally makes $10 million in profit. How much of an increase in bad loans would it take (in %s) to wipe out that profit? Explain.
Johnsons Construction is considering an investment in equipment costing $660,000. The equipment will be depreciated on the straight-line basis over an 8 year period with an estimated residual value of $120,000.
An owner decides that he wants to go ahead with manufacturing; he must spend $900,000 for the new equipment-Calculate the NPV for this project. Should it be undertaken?
Finance Here Sales & Service provides leased-based financing for its full line of commercial generators. Sales of the generators are properly accounted for as operating sales-type leases.
Accrued rents on the apartment building are as follows" 70,000 (date of death) and 60,000 (six months later). In order to pay expenses, the executor of Arlene's estate sells the Tan stock for $600,000 eight months after her death.
Barry did not elect to expense any of the asset under § 179, nor did he elect straight-line cost recovery. Barry sold the asset on July 17, 2010. Determine the cost recovery deduction for 2010.
The following conversation took place between Dean Lancaster, vice president of marketing, and Dina Conaway, controller of Redwood Computer Company:
The heating division of ITA International produces a heating element that it sells to its customers for $42 per unit. Its variable cost per unit is $19, and its fixed cost per unit is $10. What is the minimum transfer price that the heating divisio..
Make a brief response in which you outline some examples of accounting report criteria (regulatory environment, issues with foreign currency, differences in GAAP, etc.) employed by a U.S.
Under Carl's will, Carl created a testamentary trust to be funded with $700,000 worth of assets. All of the income of the trust is payable to Carl's child, Jane, for her life, and thereafter, the remaining assets of the trust will pass to The Publ..
When the market value of an investment in debt securities exceeds its carrying amount, how should the asset be reported at the end of the year for each of the following?
The beginning balance of retained earnings was $137,000,while the end of the year balance of retained earnings was $175,000.Net income for the year was $63,000. How much was paid in cash dividends during the year?
The CEO of your company has requested that you prepare a written presentation to be given at the next board of directors meeting regarding the continuing impact that the information age has on financial accounting.
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