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CBD Computer Inc. is attempting to estimate its needs for funds during each of the months covering the third quarter of 20XX. Pertinent information is given below: a. Past and estimated future sales for 20XX: April $80,000 July $ 90,000 May 95,000 August 130,000 June 70,000 September 110,000 October 140,000 b. Rent expense is $2,500 per month. c. A quarterly interest payment on $100,000 in 7% notes payable is to be paid during September, 20XX. d. Wages and salaries are estimated as follows: July $ 8,000 August 10,000 September 12,000 Payments are made within the month in which the wages are earned. e. Sixty percent of sales are for cash, with the remaining 40% collected in the month following the sale. f. CBD pays 80% of the sales price for merchandise and makes payment in the same month in which the sales occur, although purchases are made in the month prior to the anticipated sales. g. CBD plans to pay $7,500 in cash for a new forklift truck in July. h. Short-term loans can be obtained at the end of each month at 13% annual interest with interest paid during each month for which the loan is outstanding. i. CBD's ending cash balance for June 30, 200X is $67,000: the minimum balance the firm wishes to have in any month is $35,000. Required: Set up a cash budget for CBD for the quarter ended September 30, 20XX.
You own a stock portfolio invested 35 percent in Stock Q, 30 percent in Stock R, 20 percent in Stock S, and 15 percent in Stock T. The betas for these four stocks are .79, 1.17, 1.18, and 1.35, respectively. What is the portfolio beta?
Assets transferred to which of the following trusts will be included at the time of the grantor’s death in the grantor’s gross estate for federal estate tax purposes?
Security A has an expected return of 12% with a standard deviation of 32%. Security B has an expected return of 18% with a standard deviation of 59%. The correlation coefficient between Stocks A and B is 0.4. What is the standard deviation, in percen..
The managers of United Medtronics are evaluating the following four projects for the coming budget period. The firm's corporate cost of capital is 14 percent. Project Cost IRR. What is the firm's optimal capital budget? Return to the original assumpt..
You are starting college this month, and your favorite aunt has agreed to give you $4,000 at the end of each of your four years and you can save $8,000 at the end of each year for the first two years after you graduate. If all of these amounts are in..
Valuation of a firm's financial assets is said to be based on what is expected in the future, in terms of the future performance of the firm, the industry, and the economy. What types of value would you consider when assigning value to a firm's stock..
What is the inventory turnover ratio for ABC Corp. if cost of goods sold equals $5,000, current ratio equals 3, quick ratio equals 1.5, and the firm has $1,800 in current assets?
Yang Corp. is growing quickly. Dividends are expected to grow at a rate of 30 percent for the next three years, with the growth rate falling off to a constant 7.5 percent thereafter. If the required return is 13 percent and the company just paid a $2..
An investor sold seven contracts of June/2012 corn. The price per bushel was $1.64, and each contract was for 5000 bushels. The initial margin deposit is $2000 per contract with the maintenance margin at $1250. How much did the investor have to depos..
Assume stocks A and B have had identical stock prices every day for the past three years. Stock A pays a dividend but Stock B does not. Which one of these statements applies to these stocks for the last three years?
If you were the CEO, would you approve this proposal? Why or why not?
(Bonds) A company has an outstanding issue of $1,000 face value bonds with a 9.5% annual coupon and 20 years remaining until maturity. The bonds are currently selling at a price of 90 (90% of face value). An investment bank has advised that a new 20-..
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