Capital expenditure of $155,000 was incurred during last 2 years. Increase in invested capital reduced both IGR and SGR. As sales growth rate was higher than IGR and SGR, firm had to rely on trade credits and trade notes, besides internal accruals and bank notes to finance its cash outflows. Projections for 1996 are based on information provided and other assumptions described in excel sheets viz. all trade notes will be fully paid and trade credit of 10 days is for additional purchases made from April 1, 1996.
UNIT 4 Exam Review 1) You have purchased $70,000 worth of goods. The dealer is giving you terms of 3/10, n/60. You were billed on March 15 and given a loan rate of 6.5%. If you take out a loan to take advantage of the discount, how much do you really save by getting the loan and taking advantage of the discount, but still paying interest? Answer: Amount of discount = 70,000 * .03 = $2100.
Book Keeping – T accounts Question 1 The transactions (non credit) of a business during the first week of trading are as follows: 1/ Mr Frank starts a business by opening a business bank account with £35000 of his own money. 2/ He borrows £15000 from the bank 3/ Buys a machine costing £5000, paying by cash. 4/ Purchases goods at a cost of £11000, paying by cheque 5/ Sells goods for £13000. The customer pays by cheque immediately. 6/ Pays rent of £4000 7/ Pays £3000 wages for the period a) Record each of the above transactions for the first week in the ledger accounts.
However based on the case 1 – 4 (Barney and Hesterly 2012) the company was facing high fluctuation of stock during last year’s due to the uncertainty of fashion market trends. In addition economic recession, which resulted in market decline, rough material price increase and market saturation led to fiercely competition between premium denim sector players. True Religion brand benefited within first years from “distressed” jeans fashion boom, but yet today the current strategy will not be sufficient to withstand high competition under given market conditions. Arising question is: how to adjust current strategy of True Religion to ensure its market position and strengthen global brand recognition? 2.
Can we use our checking account to pay for it?” The straight cut and dry answer is no, or so says the policy. This funding stream is to be used for groceries, client activities, repairs and supplies for the houses. The clients and/or their families are supposed to be responsible for personal needs. What made this hard is I happened to know this individuals back story. He only receives only $98 per month and their family is unable to financially help him.
Roughly 25 percent of the firm’s customers take the discount, 65 percent pay within thirty days, and 10 percent pay late (about sixty days after the invoice date). The firm presently has a cash balance of $300,000 and wants to maintain a minimum cash balance of $300,000. Additional borrowing necessary to maintain that minimum balance is estimated in the final section of Table 1 (attached worksheet). The Cash surplus or Loan requirement line on Alpine Wear's cash budget shows that loans are required from January to April, and surpluses are expected during May and June. Specific amounts are showed as the table below.
I was a licensed tax preparer and accounting major years ago, so I have some experience in this area. I am not surprised that the tax preparer refuses to pay for an interpreter because as a small, independent business person with no employees this would constitute “an undue burden” for her. Businesses that employ 20 or more employees would be under a legal obligation to pay for interpreting services, but that is not the case here. I would tell my friend about the risks involved with hiring a tax preparer who does not work for a larger firm. I would advise my friend to ask the tax preparer if he/she carries professional liability insurance.
The company does not guarantee to provide you with a minimum or maximum number of hours of work. Notice of termination Following the successful completion of your probationary period, you are required to give one month’s notice in writing to terminate your employment with the company. Holiday entitlement The holiday year runs from 1st April to 31st March. Your annual holiday entitlement in any holiday year is 5.6 weeks (subject to a maximum of 28 days) which is inclusive of recognised public holidays. Bii Describe the information which needs to be shown on your pay slip/statement.
Ehrenreich’s found that the people that stuck at these jobs are not college students just trying to make it through college. This author viewed the customs, standards and hierarchy found in the staff of each job, because she tried to live like they did. All across America people have been finding it hard to make ends meet with low-paying jobs, especially if they have a family. According to the national coalition for the homeless, in 1998 it took on average nationwide, an hourly wage of 8.89 per hour to afford a one bedroom apartment. In her study Ehrenreich made rule on that she had was she could not use any skills that she obtained through education to get a job.
Due to her concerns, Maggie has used all of the company’s cash to pay off the increased inventory immediately to receive the two percent discount offered by suppliers. (Horniman Horticulture: Chapter 9) Issues/Problems According to Exhibit 1, cash has significantly declined over the past four years for a number of reasons. Both inventory and accounts receivable have increased substantially. Inventory accounts for nearly half of the total assets value which hinders Horniman Horticulture from having more cash on hand because the inventory is not very liquid. Horniman Horticulture would have extreme difficulty creating cash from its inventory is an