User Account

All Pages

Write a memorandum laying out suggestion and justifying

Assignment Help Financial Accounting
Reference no: EM132551513

You are the payables accountant for a medium sized electrical contracting company. You are paying bills with purchase discounts but can't take advantage of them because the cash balance in the checking account is low. You approached your boss with a suggestion that the company borrow money at the bank so you can pay the bills in time to take the discounts. Your boss thinks you are a little crazy to recommend borrowing from the bank (currently charging 6% interest) to take advantage of 1-2% discounts.

Question 1: Write him a memorandum laying out your suggestion and justifying your suggested course of action.

Question 2: Use actual numbers in your memo. For example, if you need to borrow money to pay a $10,000 bill that offers terms of 2/10, n/30 and the loan's interest rate is 6%.

Reference no: EM132551513

Questions Cloud

What a non-adjusting event is one : What A non-adjusting event is one that occurs? after the completion of the financial reports./ after the financial statements have been distributed.
Institutional sexism played a role in removal : Some critics of Graf' s treatment have said that institutional sexism played a role in her removal.
Define the scope and the requirements of your project : You developed a business case for your SCRUM project. define the scope and the requirements of your project.
Find how much would the value of the company change : By how much would the value of the company change if it accepts the replacement project? The company's tax rate is 20 percent and cost of capital is 10 percent.
Write a memorandum laying out suggestion and justifying : Use actual numbers in your memo. For example, if you need to borrow money to pay a $10,000 bill that offers terms of 2/10, n/30 and loan's interest rate is 6%
Develop presentation designed for training the staff : Develop a 10- to12- slide PowerPoint Presentation designed for training the staff at a local high school. The PowerPoint Presentation should focus.
Find what total amount of income from investment should : Find what total amount of income and other revenue from investment should Horizon Company disclosed in its December 31, 2017 profit or loss?
ENS2260 Surveying and Site Measurement Assignment : ENS2260 Surveying and Site Measurement Assignment Help and Solution - Edith Cowan University, ECU, Australia - Assessment Writing Service
Prepare the necessary adjusting entry for the baylor agency : Prepare the necessary adjusting entry for The Baylor Agency on November 30, assuming it recorded Able's payment as Unearned Insurance Premiums.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Te 2011 balance sheet of the captain jet inc is attached

the 2011 balance sheet of the captain jet inc. is attached. during 2012 the following events occurred.1. on january 10

  Determine all of the appropriate journal entries to record

Determine all of appropriate journal entries to record the transactions and any subsequent adjusting entries (for example, depreciation expense on 12/31/2016).

  Restrictions of retained earnings may result

Restrictions of retained earnings may result from each of the following except: Tina Corporation issued 4,000 shares of $10 par value common stock in exchange for a truck. The truck had a fair market value of $65,000. The entry to record this transac..

  Explain why the accounting treatment is different

Explain why the accounting treatment is different in the General Fund and governmental activities general journals.

  Overstatement and understatement of retained earnings

Elliot Corp failed to record accrued salaries for 2013, of $2,000, for 2014 of $2,100 and for 2015 of $3,900. What is the amount of the overstatement and understatement of Retained earnings at December 31, 2016? Management has decided to switch from ..

  What was the companys cash flow from operating activities

All other balance sheet accounts were unchanged over the year. What was the company's Cash Flow from Operating Activities?

  Elaborate money market securities

Elaborate Money Market Securities, Capital Market Securities, and Derivative Securities in detail and what are the examples so that may better.

  Determine how much of the rental cost should be allocated

Based on this information, Determine how much of the rental cost should be allocated to the products made in January and to those made in February?

  Determine what is the dividend yield

You purchased 500 shares of stock at a price of $51.36 per share. Over last year, you have received total dividend income of $580. What is the dividend yield

  What is activity-based costing

What is activity-based costing? What are some of the key elements of activity-based costing? How does this method differ from a more traditional costing method?

  Journal entries for sold merchandise inventory on

journal entries for sold merchandise inventory on account.1.3142009 sold 700000 merchandise inventory on account.nbsp

  Find what are the nominal and effective cost of trade credit

Find What are the nominal and effective costs of trade credit under credit terms of 2/10, net 40? Assume a 365-day year. Do not round intermediate calculations.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd