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Bristol Steel Corporation (BSC) manufactures steel products. In 2016, the treasurer of HHH invested excess funds into a speculative stock with the intention of liquidating the stock at some time in the future when the funds were required. The amount is material. After two months, the stock incurred a significant loss and was sold shortly thereafter. The controller prepared a journal entry to record the transaction as a sale of old inventory so the company showed a lower profit on sales than usual, but no trading loss.
The auditor provided an unmodified opinion on the 2016 financial statements. In 2017, the shares of the company were purchased by a private equity firm. The error was discovered after the audited financial statements were issued.
Assume that the private equity form sued the auditors. Explain how the 4 elements of negligence would apply to this case.
Consider your Scenario Generator Report and the previous three assignments. Assume the role of a unit manager who is evaluating the last year and looking ahead to the next year. Synthesize the various elements of your Scenario Generator Report and th..
List 3 of the Primary factors that influence risk levels in international business but not typically in domestic business.
Define and contrast idiosyncratic and systematic risk and the risk premium required for taking each on. Can beta be helpful in this instance? Explain your answer.
If you were risk-averse and deciding how much to forward on an item not yet produced, you are uncertain about the spot price at production time and the eventual size of the production. What would be a good approach to forward? IE. always sell forward..
The December 31, 2013, balance sheet of Schism, Inc., showed long-term debt of $1,430,000, $146,000 in the common stock account and $2,710,000 in the additional paid-in surplus account. The firm’s net capital spending for 2014 was $1,020,000, and the..
Compare and Contrast Managerial Accounting and Financial Accounting.- "Decision-making is management's most important function." Do you agree? Why or why not?
ABC Corporation arranged a repurchase agreement in which it purchased securities for 5.9 million $ and will sell the securities back for 6 million $ in 50 days. What is the yield (or repo rate) to ABC Corporation?
Darling Leasing is considering the lease to Major State University of a piece of equipment costing $100,000. The period of the lease will be 8 years. The equipment will be depreciated under MACRS rules for 7-year class assets. Darling’s marginal tax ..
You are planning to save for retirement over the next 30 years. To save for retirement, you will invest $1,150 per month in a stock account in real dollars and $540 per month in a bond account in real dollars. How much can you withdraw each month fro..
The Fix-it Shop has zero coupon bonds outstanding that mature in three years. The bonds have a face value of $1,000 and a current market price of $860. What is the company’s pre-tax cost of debt?
What would be the price of a 91-day European-style put option on ARB stock having the same exercise price? Calculate the change in the call option’s value that would occur if ARB’s management suddenly decided to suspend dividend payments and this act..
Calculate the payback period, profitability index, net present value, and internal rate of return for the new strip mine.
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