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Assume that Sunshine Products Inc has an agreement with Shady Finance Company to factor its receivables. Shady charges a flat commission of 2 percent of the receivables factored, plus 6 percent a year interest on the outstanding balance. It also deducts a reserve of 10 percent for returned and damaged materials. Interest and commission are paid in advance. No interest is charged on the reserve or the commission. If the average level of outstanding receivables is $700,000 and if they are turned over 4 a year, then what is the effective quarterly interest rate charged by Shady for this arrangement?
The depreciation applicable to this equipment was $70,000 for 2008, computed under the sum-of-the-years'-digits method. What was the acquisition cost of the equipment?
equity transactions.foley corporation has the following capital structure at the beginning of the year 6 preferred
Calculate the restated cash dividend per share for 2009 reported in the 2011 annual report for comparative purposes. Round your answer to two decimal places.
Fred Farmer and his two sons owned 100 percent of Fruits and Nuts, Inc. Fred owned 50 percent of the stock, but he had 25 percent redeemed by the corporation for a building with a basis of $10,000 and a value of $50,000. If E&P is $200,000 and Fre..
Phipps manufactures circuit boards in Division A, a country with a 30% income tax rate, and transfers them to Division B, a country with a 40% income tax. An import duty of 15% of the transfer price is paid on all imported products.
Kate Greenway Corporation, having recently issued a $20 million, 15-year bond issue, is committed to make annual sinking fund deposits of $620,000. The deposits are made on the last day of each year and yield a return of 10%. Will the fund at the ..
The balance in the equipment account is $904,000, and the balance in the accumulated depreciation-equipment account is $316,400.
based on background information, what are the major inherent risks in the Securimax audit? Consider both industry and entity risks in your answer? 2. Discuss the factors to consider when determining preliminary materiality for Securimax.
Briefly describe three strategies for testing internal controls when information technology is used for significant accounting processing
What is boxware's contribution margin per unit?
Assume that investors have recently become more risk averse, so the market risk premium has increased. Also, assume that the risk-free rate and expected inflation have not changed. Which of the following is most likely to occur?
You have deposited $8,369 in a special account that has a guaranteed interest rate of 13% per year. If you are willing to completely exhaust the account, what is the maximum amount that you could withdraw at the end of each of the next 8 years?
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