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Problem - A corporation established projected sales at $210 million. It is using its current year balance sheet as a basis for creating a pro forma balance sheet. They estimate cash will be 7% of projected sales, accounts receivable will be 19% of projected sales, and the PP&E will be 55% of the projected sales. Accounts payable are estimated to be 12% of projected sales. Owner's equity is $34 million. Long term debt is $90 million. Additionally, the firm raised $12.9 million of equity capital.
Required - What is the amount of discretionary financing needed? What is the mathematical equation used to get the answer?
Where does the company disclose its revenue recognition policy? When does the company record revenues for the "sale" of gift cards?
Who are the stakeholders in this situation? What are the ethical issues involved in this situation? What would you do if you were Steve Morgan?
Calvin miscalculated his income in 2013 and overpaid his state income tax by $10,000. In 2015, he amended his 2013 state income tax return and received a $10,000 refund and $900 interest. Calvin itemized his deductions in 2013, deducting $12,000 in s..
Show the additional profit or loss that would be generated by the special order. What is the minimum profit Gourmet Ice Cream Company should accept? Show the computations, but respond in the memo.
Brady Construction Company contracted to build an apartment complex for a price of $6,000,000. Construction began in 2016 and was completed in 2018
Olympia Manufacturing uses a predetermined overhead allocation rate based on a percentage of direct labor cost. At the beginning of the? year, Olympia estimated total manufacturing overhead costs at? $1,010,000 and total direct labor costs at? $830,0..
Complete Voice Link's worksheet for the month ended November 30, 2016. How much was net income for November?
Suppose that the market price of Company X is $45 per share and that of Company Y is $30. If X offers three-fourths a share of common stock for each share of Y, the ratio of exchange of market prices would be
How can a company generate capital to be used to re-invest into the company (to create more value for investors)?How much cash did Levinson LLP make
Amoruso co produces and distributes semiconductors for use by computer manufactures; amoruso co issued $7,500,000 of 15 year 10% bonds on April 1 of the current year at face value, with interest payable on April 1 and October 1.
Evaluate management control systems and examine their relationship with accounting and planning, including feedback and non-?nancial performance measurements
On January 2, 2005, Drew Company issued 9% term bonds dated January 2, 2005, at an effective annual interest rate of 10%. Drew uses the effective interest method of amortization. Were the 9% term bonds issued at face amount, at a discount, or at a pr..
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