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Ditka engineering company has signed a third party loan guarantee for liberty company . The loan is fro the national bank of illinois for $500,000. Liberty has recnetly filed for bankruptcy , and it is estimated by the companys auditors that creditors can expect to receive no more than 40% of their claims fro mliberty. Ditka's treasurer believes that because of the high uncertainty of final settlement , a liability should be recorded for the entire $500,000. The chief accountant , on the other hand , believes the 40% collection figure is reasonable and proposes that a $300,000 liability be recorded. Ditka's president does not thin a reasonable estimate can be made at this time an dproposes that nothing be accrued for the contingent liability but that a note be added to the financial statements explaining the situation. As a independent outside auditor, what position would you take? Why?
2) ARE current values necessary for valuing investment assets?First federal finance company has a large investment securities portfoilio . In the "old days" first federal was allowed to value these securities at the lower of cost or market. Statement of financial accounting standards number 115 now requires current market valuation on the balance sheet for most securities. As a banker you do not consider current value reporting to be necessary . Indeed , you feel it unfairly harms your reported performance. As a banker , why would current value accounting be threatening to you? How owuld you respond to these concerns if you were a member of the FASB?
Make a cash budget for XYZ Company for the first three months of 2004 based on the following data:
Construct an income statement, Construct a balance sheet, Construct a Statement of Retained Earnings, Construct Statement of Cash flows
Spear, Corporation, has an odd dividend policy. The firm has just paid a dividend of $7 per share and has announced that it will rise the dividend by $4 per share for each of the next 4 years.
Explain how a performance of Department can be measured and Make sure you use relevant concepts covered in the course
Purchasing: Requisitions; Purchase Orders; Receiving, Inventory/WMS: Receive & put-away; miscellaneous transactions; Shelf Life Extension (SLEP); inventory transfers; import 3rd party
You have been asked to find the value of BCD Limited and have been provided with the following data. Other data provided to you is that sales are expected to grow at a rate of 5 percent.
A security analyst forecasts dividends of Kalpert Enterprises for the next 3 years. Her forecast is D1=$1.50, D2=$1.75, and D3=$2.20. She also forecasts a price in 3 years of $48.50.
Find the External funds needed by the company - Calculate the External Funds Needed (EFN) for the Company, to achieve the projected sales, using the formula method.
Consider you are considering a project to develop a new software package. You and your team are making a list of the revenues and costs that are relevant in the computation of the project's NPV.
Depending upon the state of the economy, Ables Manufacturing Corporation expects to sell the following number of prefabricated buildings. The probability of each state is indicated.
Stock A has a beta of 1.2 and a standard deviation of 25%. Stock B has a beta of 1.4 and a standard deviation of 20 percent. Portfolio AB was created by investing in a combination of Stock A and Stock B.
Mime Theatrical Supply is in the process of negotiating a line of credit with two local banks. The prime rate is currently 8 percent. The terms follow: Calculate the effective interest rate of both banks.
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