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Advanced Accounting: Discussion 6You are CFO of a large company that has a few subsidiaries. A new board member is unfamiliar with consolidation procedures particularly with respect to the elimination of intercompany inventory transactions. Provide a summary of your talking points with the board member that addresses the elimination entries that are necessary as well […]

Many long-term loans have contractual restrictions designed to protect the lender from deterioration of the borrower’s liquidity or solvency in the future. These restrictions (typically called loan covenants) often take the form of financial-statement ratio values. For example, a lending agreement may state that the loan principal is immediately due and payable if the current […]

Brief Exercise 24-2Hsung Company accumulates the following data concerning a proposed capital investment: cash cost $248,040, net annual cash flows $45,000, present value factor of cash inflows for 10 years 5.65 (rounded).(If the net present value is negative, use either a negative sign preceding the number eg -45 or parentheses eg (45).)Determine the net present […]

New-Project AnalysisYou have been asked by the president of your company to evaluate the proposed acquisition of a new spectrometer for the firm’s R&D department. The equipment’s basic price is $70,000, and it would cost another $15,000 to modify it for special use by your firm. The spectrometer, which falls into the MACRS 3-year class, […]

MGMT 225 – Assignment #2Strategic Management (Author- Frank T Rothaermel)In chapter 7 we discuss the Internet as a disruptive innovation that has facilitated online retailing. It also has presented a challenges to bricks and mortar retailers. How might retailers such as Walmart, Sears, Nordstrom etc need to change their in-store experience in order to continue […]

Managerial Economics & Business StrategyThe demand curve for product X is given by Qx=200-4Px?a. Find the inverse demand curveb. How much consumer surplus do consumers receive when Px=$20?c. How much consumer do consumers receive when Px=$30?d. In general, what happens to the level of consumer surplus as the prices of a good rises?

Quicksilver Delivery Service contracts to deliver Pete’s Pizza Parlor’s products to its customers for $5,000, payable in advance. Pete’s pays the money, but Quicksilver fails to perform. Can Pete’s rescind the contract? Can Pete’s also obtain restitution? What does it mean to “rescind” a contract? How is a contract rescinded? What is restitution? How is […]

1, Gonzales Corporation generated free cash flow of $88 million this year. For the next two years, the company’s free cash flow is expected to grow at a rate of 8%. After that time, the company’s free cash flow is expected to level off to the industry long-term growth rate of 4% per year. If […]

The U.S. corporate income tax rate at 35% is the highest in the developed world. It is also one of very few countries that require companies to pay that rate on worldwide income, although companies can defer the tax bill until they bring the money home. A study published in 2015 estimated that $2.1 trillion […]

The user has updated the question:User’s response: Modern Appliances Corporation has reported its financial result for the year ended December 31, 2008Income statement for the fiscal year ended December 31, 2008Net——————————————- $5,398,412,000Cost of goods sold—————————–$3,432,925,255Gross profit———————————–$1,965,486,745Selling, general, and administrative expenses–$1,036,311,231Depreciation———————————–$299,928,155Operating Income——————————-$629,247,359Interest expense——————————-$35,826,000EBT ——————————————-$593,421,359Income taxes———————————–$163,104,554Net earnings———————————–$430,316,805Consolidated balance sheetModern Appliances CorporationDecember 31, 2008″ASSETS:Cash and cash equivalents $514,412,159Accounts […]