Question 1
all requirements is in the attachment. i need answers for thoes questions in the analysis. but the most important is that you need to find an article first in order to answer questions. this paper should be 3-4 pages double spaced. can you be serious because its my final. thanks,dear professor can you not use those articles which are Over the Cliff: From the Subprime to the Global Financial Crisis; Frederic S. Mishkin, Journal of Economic Perspectives?Volume 25, Number 1?Winter 2011?Pages 49?70 and OVER-THE-COUNTER DERIVATIVES MARKET IN VIEW OF THE GLOBAL FINANCIAL CRISIS 2007-2009, Marcin Kalinowski thanks,dear professor, if you are the same professor from my another question. u gotta use different articles for each paper. thanks,dear professor, thoes two papers that u uploaded are same. can i know why this happen?? i told you the requirements when i ask this question. they cant be same. can you reply me asap. thanks,i mean the second one and the third one are same.,dear professor, i have attached three questions totally.the answer for third paper is same as the second one. the second one is due on april 27th and the third one is due on april 29th. when i attach those requirments,i clearly mention that all papers cant be same and also should use different articles.,if you download those attachments that you uploaded. you will find out there are two papers actually same. thanks,can i know what do you about Qid of the other 2 papers?? can you reply me asap. because this assignment is due these days. thanks,The other one is finance 8158524. Doc Can u resubmit my question ASAP? Thanks,dear professor, firstly thanks. be sure that those two papers cant be same and also cant use same articles. they gotta use different references.,thanks. hope i will get my answers asap.,Dear professor, The attachment that u upload is not an paper essay! U just made explanation for each concept! Like I said before... This assignment should be paper! It's not fit my requirements that I upload at the beginning ! Can I know what's going on here? Thanks,Thanks! Please write an formal essay for this question! Please reply my request ASAP! I don't hv enough time because the I almost pass the due date! Thanks
Question 2
For this discussion, imagine you are an accountant for J. Malone's Law Firm. The accounts and transactions of the firm are listed below. Analyze each transaction by identifying the account or accounts to be debited and credited and prepare a journal entry for each in the proper format. Here is an example to record the owner's investment to start the business: Cash 54,000. Common stock 54,000. Use the following account titles for this scenario: Accounts: Assets: Cash. Accounts Receivable. Prepaid Rent. Office Equipment. Automobiles. Liabilities: Accounts Payable. Interest Payable. Note Payable. Owner?s Equity: Common stock. Expenses: Automobile Expense. Rent Expense. Utilities Expense. Salaries Expense. Interest Expense. Telephone Expense. Revenues: Service Revenue. Transactions: Justine Malone invested $54,000 in cash to start the business. Paid $3,000 for 3 month?s rent. Bought a used automobile for the firm for $16,000 in cash. Performed services for $3,000 in cash. Paid $400 for automobile repairs. Performed legal services for $3,750 on credit. Borrowed $25,000 from the local bank to help expand his business. Purchased office chairs for $2,100 on credit. Received $1,800 from credit clients. Paid $1,000 on account to reduce the amount owed for the office chairs (purchased in #8). Issued a check for $560 to pay the monthly utility bill. Purchased office equipment for $8,400. Paid half in cash; the remainder to be paid in 30 days. Issued a check for $5,680 to pay salaries. Performed legal services for $1,850 in cash. Performed legal services for $2,600 on credit. Collected $1,600 on accounts receivable from charge clients. One month?s worth of rent (paid in #2 above) has expired. One month?s interest $145 accrued on the note payable (from number 7 above).
Question 3
American Superconductor As you know from reading through the background materials, the decision to use debt or equity to raise money is not a decision taken lightly by management. So when several years ago, in 2003 American Superconductor decided to raise funds through equity it was definitely a major decision that required intense discussions at the highest levels of management. Read the article below about American Superconductor and do some of your own research using the CyberLibrary and internet search engines. You can also take a look at the official American Superconductor webpage. Assignment Expectations: After doing your research, apply what you learned from the background materials and write a three to five page paper answering the following questions: What are the advantages and disadvantages for AMSC to forgo their debt financing and take on equity financing? Do you agree with their decision? How can a company's cost of equity be determined? Is there a tax deduction from the use of debt financing? Please explain. Explain both of your answers thoroughly. Be sure to support your opinions on these assignment questions with references to the background materials or to other articles in your paper. Read the article below available in Proquest: American Superconductor switch ; Westboro company plans to raise money through a stock offering Andi Esposito. Telegram & Gazette. Worcester, Mass.: Aug 26, 2003. pg. E.1 Abstract (Article Summary) "AMSC's management and board of directors believe the decision to forgo a secured debt financing and to adopt an equity financing strategy under current market conditions is in the best interests of our shareholders," said Gregory J. Yurek, chief executive officer of AMSC. The 265-employee company has operations in Westboro and Devens and in Wisconsin. Finally, the Northeast blackout "shined a lot of light on the problems we have been talking about as a company for three to four years," Mr. Yurek said. AMSC products, such as a system installed this year in the aging Connecticut grid and high temperature superconductor power cables and other devices bought by China for its grid, are designed to improve the cost, efficiency and reliability of systems that generate, deliver and use electric power. "We are a company with products out there solving problems today," he said.
Question 4
1. (TCO 2) Benchmarking is (Points : 3) relatively easy to do with the amount of available financial information about companies. best done with the best in their field regardless of type of company. simply reporting the magnitude of differences in costs or revenues across companies. making comparisons to direct attention to why differences in costs exist across companies. 2. (TCO 2) To gain the benefits of budgeting, ________ must understand and support the budget. (Points : 3) customers management at all levels suppliers All of the above 3. (TCO 2) The operating budget process generally concludes with the preparation of the (Points : 3) research and development budget. budgeted income statement. distribution budget. production budget. 4. (TCO 2) Flexible budgets (Points : 3) accommodate changes in the inflation rate. accommodate changes in activity levels. are used to evaluate capacity utilization. are static budgets that have been revised for changes in prices. 5. (TCO 2) A favorable variance indicates that (Points : 3) budgeted costs are less than actual costs. actual revenues exceed budgeted revenues. the actual amount decreased operating income relative to the budgeted amount. All of the above 6. (TCO 2) Which of the following statements is true about overhead cost variance analysis using activity-based costing? (Points : 3) Overhead cost variances are calculated for output-unit level costs only. Overhead cost variances are calculated for variable manufacturing overhead costs only. A four-variance analysis can be conducted. Activity-based costing uses input measures for all activities, resulting in the inability to do flexible budgets needed for variance analysis. 7. (TCO 2) Fixed overhead costs include (Points : 3) the cost of sales commissions. property taxes paid on plant facilities. indirect materials. energy costs. 8. (TCO 2) Katie Enterprises reports the year-end information from 20X8 as follows: Sales (70,000 units) $560,000; Cost of goods sold 210,000; Gross margin 350,000; Operating expenses 200,000; Operating income $150,000. Katie is developing the 20X2 budget. In 20X2, the company would like to increase selling prices by 4%, and as a result expects a decrease in sales volume of 10%. All other operating expenses are expected to remain constant. Assume that COGS is a variable cost and that operating expenses are a fixed cost. What is budgeted operating income for 20X2? (Points : 3) $135,160 $145,160 $125,160 $130,160 9. (TCO 2) Hester Company budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels (in units) are planned for the fiscal year of July 1, 20x2, through June 30, 20x3. July 1, 20x2 June 30, 20x3 Raw material (note) 40,000 10,000 Work in process 8,000 8,000 Finished goods 30,000 5,000 (note) Three units of raw material are needed to produce each unit of finished product. If Hester Company plans to sell 500,000 units during the 20x2-20x3 fiscal year, the number of units it would have to manufacture during the year would be (Points : 3) 505,000. 500,000. 480,000. 475,000. 10. (TCO 2) Information pertaining to Brenton Corporation's sales revenue is presented in the following table: February March April Cash Sales $160,000 $150,000 $120,000 Credit Sales 300,000 400,000 280,000 Total Sales $460,000 $550,000 $400,000 Management estimates that 5% of credit sales are not collectible. Of the credit sales that are collectible, 60% are collected in the month of sale and the remainder in the month following the sale. Cost of purchases of inventory each month are 70% of the next month's projected total sales. ll purchases of inventory are on account; 25% are paid in the month of purchase, and the remainder is paid in the month following the purchase. Brenton's budgeted total cash receipts in March are (Points : 3) $478,000. $457,000. $492,000. $428,000.
Question 5
The Genesis operations management team is now preparing to implement the operating expansion plan. Previously the firm?s cash position did not pose a challenge. However, the planned foreign expansion requires Genesis to have a reliable source of funds for both short-term and long-term needs. One of Genesis?s potential lenders tells the team that in order to be considered as a viable customer, Genesis must prepare and submit a monthly cash budget for the current year and a quarterly budget for the subsequent year. The lender will review the cash budget and determine whether or not Genesis can meet the loan repayment terms. Genesis?s ability to repay the loan depends not only on sales and expenses but also on how quickly the company can collect payment from customers and how well it manages its supplier terms and other operating expenses. The Genesis team members agreed that being fully prepared with factual data would allow them to maximize their position as well as negotiate favorable financing terms. The Genesis management team held a brainstorming session to chart a plan of action, which is detailed here. ? Evaluate historical data and prepare assumptions that will drive the planning process. ? Produce a detailed cash budget that summarizes cash inflow, outflow, and financing needs. ? Identify and compare interest rates, both short-term and long-term, using debt and equity. ? Analyze the financing mix (short/long) and the cost associated with the recommendation. Since this expansion is critical to Genesis Corporation expanding into new overseas markets, the operations management team has been asked to prepare an executive summary with supporting details for Genesis?s senior executives. Working over a weekend, the management team developed realistic assumptions to construct a working capital budget. 1. Sales: The marketing expert and the newly created customer service personnel developed sales projections based on historical data and forecast research. 2. Other cash receipt: Rental income $15,000 per month. 3. Production material: The production manager forecasted material cost based on cost quotes from reliable vendors, the average of which is 50 percent of sales. 4. Other production cost: Based on historical cost data, this cost on an average is 30 percent of the material cost and occurs in the month after material purchase. 5. Selling and marketing expense: Five percent of sales 6. General and administrative expense: Twenty percent of sales 7. Interest payments: Payable in December ? $75, 000 8. Tax payments: Quarterly due 15th of April, July, October, and January ? $15,000 9. Minimum cash balance desired: ? $ 25,000 per month 10. Cash balance start of month (December):$15,000 11. Available short-term annual interest rate is 8 percent, long-term debt rate is 9 percent, and long-term equity is 10 percent. All funds would be available the first month when the firm encounters a deficit. 12. Dividend payment: None Based on this information, do the following: ? Using the Cash Budget spreadsheet, calculate a detailed company cash budget for the forthcoming year. Summarize the sources and uses of cash, and identify the external financing needs for the forthcoming two (2) years. Cash Budget Download this Excel spreadsheet to view the company?s cash budget. You will calculate the company?s cash budget for the forthcoming year using this information. ? In an executive-level report, summarize the company's financing needs for the forecast period and provide your recommendations for financing the planned activities. Be sure to comment on the following:??a) Your recommended financing solution and cost to the firm: If Genesis needs operating cash, how should it fund this need? Are there internal policy changes with regard to collections or payables management you would recommend? What types of external financing are available? b) Your concerns associated with the firm's cash budget. Is this a sign of weak sales performance or poor cost control? Why or why not? Write a 7-page paper in Word format. Apply APA standards to citation of sources.
