years. | | The step-by-step calculation is: P | = | S(1 + rt)-1 | | | = | 400,000(1 + 0.0892 x 0.24657534...)-1 | | | = | 400,000 x 0.97847883... | | | = | $391,391.53 | Rounded as last step | b)You are correct. When the first bill matures at time 90 days, the investor purchases a second bill. We must find the purchase price of the second bill. This can be displayed on a time line: | | | | | $P | $400,000 | | | | | | 0 | 90 | 180 | 270 | | | | | | | | | P | = | price | = | unknown | | S | = | Maturity value | = | $400,000 | | r | = | Simple interest rate (decimal) | = | 9.16 | 100 | | = | 0.0916 | | t | = | Time period (years) | = | 90 | 365 | | = | 0.24657534... years.
August 14, 2011 Week 6 Project 2 International Reporting Case A.) 1.) Return on Assets $58,333 (net income) / $1,404,726 (total assets) = 4.15% 2.) Return on stockholder’s equity $58,333 (net income) / $176,413 (stockholder’s equity) = 33.07% 3.) Debt to assets ratio $1,202,134 (total debt) / $1,404,726 (total assets) = 87.4% B.)
To forecast 2010 sales based on 2009 sales, Equation 1 must be used: St = $500,000 + $1.10St–1 S2010 = $500,000 + $1.10($1,500,000) = $2,150,000 3. Equation 2 requires a forecast of gross domestic product. Equation 3 uses the actual gross domestic product for the past year and, therefore, is observable. 4. Advantages: Using the highest R2, the lowest
Depreciation expense for 2011 using the straight-line method will be _____. $10,340 $10,700 $10,260 $9,900 7. Payne Corporation issues 100 twenty-year, 6%, $1,000 bonds dated
d. Recreate the journal entries Callaway prepared to record the activity in the reserve for obsolete inventory account during 2007 (in thousands). Cost of Sales $12,182.00 Provisions for obsolete inventory 12,182.00 Provision for obsolete inventory 9,368.00 Inventory
Notes Payable | 12000 | | Interest Payable | 9000 | | Total Current Liabilities | 58500 | | Long Term Liabilities | | | Notes Payable | 28000 | | Total Liabilities | | 86500 | Stockholder's Equity | | | Common Stock | 205500 | | Retained Earnings - December 31 | 97400 | | Total Stockholder's Equity | | 302900 | Total Liabilities & Stockholder's Equity | | 389400 | Elker Fashions Incorporated Closing Entries For Year Ended December 31, 2008 Date | Account Title & Explanation | Debit | Credit | 31-Dec | Merchandise Inventory - December 31 | 80000 | | | Sales | 865800 | | | Purchase Discounts | 16400 | | | Income Summary | | 962200 | | (To record ending inventory and close accounts with credit balances) | | | | | | | 31-Dec | Income Summary | 860100 | | | Depreciation Expense - Buildings | | 12000 | | Depreciation Expense - Equipment | | 10000 | | Gas & Oil Expense | | 7600 | | Salary Expense | | 70700 | | Utilities Expense | | 11400 | | Repair Expense | | 5900 | | Insurance Expense | | 3500 | | Sales Discounts | | 6100 | | Purchases | | 720000
receivable turnover | sales/AR | NA | NA | NA | 10. days sales in receivables | 365/receivable turnover | NA | NA | NA | 11.capital intensity | TA/Sales | 0.682844178 | 0.717922 | 0.691657 | 12.PM | NI/Sales | -0.064448746 | -0.05795 | -0.10648 | 13.TAT | sales/TA | 1.46446295 | 1.392909 | 1.445804 | 14. ROA | NI/TA | -0.094382801 | -0.08073 | -0.15395 | 15. ROE | NI/OE | -0.527686807 | -0.30411 | -0.50697 | 2nd Assignment Loan Amortization Problem Note： First name | Middle name | Last name | Number of letters in full name | Loan amount | Interest rate | Yixin | | Zhang | 10 | 150000 | 12% | A: CURRENT MONTHLY PAYMENT N=30*12=360 PV=150000 I/Y=12% /12=1% FV=0 PMT=1542.918895 B: TOTAL INTEREST PAY 1542.918895x30x12-150000=405450.80 C: Month | Beginning Balance | Payment | Interest Payment | Principal Payment | Ending Balance | 1 | 150000.000000 | 1542.918895 | 1500.000000 | 42.918895 | 149957.081105 | 2 | 149957.081105 | 1542.918895 | 1499.570811 | 43.348084 | 149913.733021 | 3 | 149913.733021 | 1542.918895 | 1499.137330 | 43.781565 | 149869.951456 | 4 | 149869.951456 | 1542.918895 | 1498.699515 | 44.219380 | 149825.732076 | 5 | 149825.732076 | 1542.918895 | 1498.257321 | 44.661574 | 149781.070502
Income Statement figures for the most recent fiscal year Cost of goods sold Amount | Percentage of total revenue | $47,860,000,000 | 68.50% ($47,860,000,000/$69,865,000,000) | Reference: Consolidated Statements of Operations, Form 10-K, Page 31. Reference: Footnote 3 - Cost of Sales and Selling, General and Administrative Expenses, Form 10-K, Page 35. Reference: Footnote 11 –Inventory, Form 10-K, Page 42. Gross profit Amount | Percentage of total revenue | $22,005,000,000 ($69,865,000,000 - $47,860,000,000) | 31.50% ($22,005,000,000/$69,865,000,000)
Assume commercial use is at the March level. Also assume that the Sales Promotion and Corporate Services expenses will be at the same levels as in March. Salem Data Services Contribution Margin Income Statement For the Quarter Ended March 31, 2004 Revenues Intracompany $ 82,000 Commercial 110,400 Total Revenues: $ 192,400 Less: Variable Expenses Power (at $4.70) $ 1,612 Operations: Hourly Personnel (at $24.00) 8,232 Total Variable Expenses: $ 9,844 Contribution Margin $ 182,556 Less: Fixed Expenses Rent $ 8,000 Custodial Services 1,240 Computer Leases 95,000 Maintenance 5,400 Depreciation 26,180 Operations: Salaried Staff 21,600 Systems Development & Maintenance 12,000 Administration 9,000 Sales 11,200 Sales Promotion 8,083 Corporate Services 15,236 Total Fixed Costs: $ 212,939 Net Income $ (30,383) 4. Assuming the intracompany demand for service will average 205 hours per month, what level of commercial revenue hours of computer use would be necessary to
5. The journal of Bell Technology Solutions, Inc., includes the following entries for August, 2010: Requirements R1. Describe each transaction. R2. Set up T-accounts using the following account numbers: Cash, 110; Accounts receivable, 120; Supplies, 130; Accounts payable, 210; Common stock, 310; Service revenue, 410; Rent expense, 510; Salary expense, 520.