Monthly Archives: September 2013

The Griggs corporation has credit sales of $1,200,000 -

The Griggs corporation has credit sales of $1,200,000. Given the following ratios, fill in the balance sheet below: Total assets turnover- 2.4 times Cash to total assets- 2.0% Accounts Receivable turnover- 8.0 times Inventory turnover- 10.0 times Current Ratio- 2.0 … Continue reading

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Bailey Distributing Company sells small appliances to hardware stores in the Southern California area -

Bailey Distributing Company sells small appliances to hardware stores in the Southern California area. Michael Bailey, the president of the company, is thinking about changing the credit policies offered by the firm to attract customers away from competitors. The current … Continue reading

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The following information is taken from the financial statements of Columbia, Inc -

The following information is taken from the financial statements of Columbia, Inc. Year Taxable and Pre-tax GAAP Income Income tax rate Income tax paid 2006 $24,000 40% $ 9,600 2007 $27,400 40% $10,960 2008 $31,500 34% $10,710 2009 $21,240 34% … Continue reading

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Skates4us Pty Ltd manufactures and sells two products, original skates, known as Skates4all and personalized skates, known as Skates4u -

Skates4us Pty Ltd manufactures and sells two products, original skates, known as Skates4all and personalized skates, known as Skates4u. Generally the company sells 1 Skates4u (priced at $ 75 each) for every 3 Skates4all (priced at $50 each). This year, … Continue reading

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The accounting records for Beta Company contained the following balances as of December 31, 2008 -

The accounting records for Beta Company contained the following balances as of December 31, 2008: Assets Liabilities and Shareholders’ Equity Cash $50,000 Accounts Payable $17,500 Accounts Receivable 26,500 Prepaid Rent 3,600 Common Stock 48,600 Land 10,500 Retained Earnings 24,500 Totals … Continue reading

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Joan Hartman owned and managed a company in the retail sporting goods business -

Joan Hartman owned and managed a company in the retail sporting goods business. The following trial balance existed on February 1, 2000, the beginning of the fiscal year: Hartman Sporting goods Trail Balance February 1, 2001 Cash $5600 Accounts Receivable … Continue reading

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Answer the following questions about Captain Johnny Whizbang bonds payable -

a) Answer the following questions about Captain Johnny Whizbang’s bonds payable: i. What is the maturity value of the bonds? ii. What is the carrying amount of the bonds at December 31, 2012? iii. What is the annual cash interest … Continue reading

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Munster vs Skilboro -

Munster vs Skilboro 1. Data collection and interpretation. Identify relevant facts. 2. Identify critical issues and problems. 3. Theory application: which financial models and theories apply? 4. Generate alternative solutions. 5. Select plan of action and implementation. Click here for … Continue reading

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Titan Mining Corporation has 9 million shares of common stock outstanding -

Titan Mining Corporation has 9 million shares of common stock outstanding. 0.5 million shares of 7 percent preferred stock outstanding, and 120,000 8.5 percent semiannual bonds outstanding, par value $1,000 each. The common stock currently sells for $34 per share … Continue reading

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Given the following information for Alexandria Power Company, find the WACC -

Given the following information for Alexandria Power Company, find the WACC. Assume the company’s tax rate is 35 percent. Debt: 4,000 7 percent bonds outstanding, EGP 1,000 par value, 20 years to maturity, selling for 105 percent of par; the … Continue reading

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