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Marvin Company is a subsidiary of Hughes Corp. The controller believes that the yearly allowance for doubtful accounts for Marvin should be 8% of gross accounts receivable. Given the recession and the high-interest rate environment, the president, nervous that the parent company might expect the subsidiary to sustain its 10% growth rate, suggests that the controller increase the allowance for doubtful accounts to 9%. The president thinks that the lower net income, which reflects a 6% growth rate, will be a more sustainable rate for Marvin Company.
Problem 1: Should the controller be concerned with Marvin Company's growth rate in estimating the allowance? Explain your answer.
Miami Rivet had no other current liabilities. If the firm's after-tax percentage cost of capital is 9%, what is the firm's EVA at year-end
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June 30 and December 31. The bonds are sold for $705,000. The journal entry to record the first interest payment using straight-line amortization is
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Fill in the highlighted fields and compute the bad debt expense and the net receivables based on the following information for December 31
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The WACC is 16.5% and inflation is 4%. These cash flows are expected to continue for the foreseeable future. Calculate the value of equity
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