Financial Statement Information for the Amaryliss Corporation

November 23, 2020

Answer for Financial Statement Information for the Amaryliss Corporation for $2 Only (Instant Download)

Consider the following financial statement information for the Amaryliss Corporation: Item Beginning Ending Inventory $10,082 $10,880 Accounts receivable 5,351 5,881 Accounts payable 5,652 5,993 Net sales $139,003 Cost of goods sold 86,813 Required: Assume all sales are on credit. Calculate the operating and cash cycles. (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).) 1. Operating cycle days 2. Cash cycle days.

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Fundamentals of Capital Budgeting: Castle View Games

March 16, 2018

Fundamentals of Capital Budgeting: Castle View Games

Question from Corporate Finance. By Jonathan Berk, Peter M. DeMarzo published by Prentice Hall

Castle View Games would like to invest in a division to develop software for video games. To evaluate this decision, the firm first attempts to project the working capital needs for this operation. Its chief financial officer has developed the following estimates (in millions of dollars):

Assuming that Castle View currently does not have any working capital invested in this division, calculate the cash flows associated with changes in working capital for the first five years of this investment.

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Multiple Choice Questions

March 13, 2018

Real estate economics - with depreciation

1. A problem with the specific identification method is that

a. inventories can be reported at actual costs.

b. management can manipulate income.

c. matching is not achieved.

d. the lower of cost or market basis cannot be applied.

2. In a period of increasing prices, which inventory flow assumption will result in the lowest amount of income tax expense?

a. FIFO

b. LIFO

c. Average Cost Method

d. Income tax expense for the period will be the same under all assumptions.

3. When applying the lower of cost or market rule to inventory valuation, market generally means

a. current replacement cost.

b. original cost.

c. resale value.

d. original cost, less physical deterioration.

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Reeds Clothier Case Study and Questions

February 9, 2018

Reeds Clothier Case Study and Questions

Reeds Clothier Case Study and Questions

WEEK 4 – FIN 370

“Reed’s Clothier” Case Study and Questions

Prepare a 350-700-word case study analysis of Case #16: “Reed’s Clothier” located in the Cases in Financial Management text, by Sulock and Dunkelberg. Be sure to address the following in your analysis:

Briefly summarize the case.

1) Calculate a few ratios and compare Reed’s results with industry averages. (Some industry averages are shown in Exhibit 16.4) What do these ratios indicate?

2. Why does Holmes want Reed’s to have an inventory reduction sale, and what does he think will be accomplished by it?

3. Jim Reed had adopted a very loose working capital policy with higher current assets than industry averages. If he merely tightens his working capital policy to the averages, should this affect his sales?

4. Assuming that Reed’s can improve its operations to be in line with the industry averages, construct a 1995 pro forma income statement. Assume that net sales will be reduced 5 percent to $1,938,000 but that depreciation and amortization will not change but remain at $32,000.

5. What type of inventory control system would you suggest to Jim Reed?

6. What type of accounts receivable control would you suggest to Jim Reed?

7. Is the increase in sales related to the increase in inventory?

8. What is Reed’s cost of not taking the suppliers’ discounts?

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Master Budget of Earrings Unlimited

February 1, 2012

Master Budget of Earrings Unlimited US$ 20 only (Instant Download)

Sample Answer Given Below

You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping

malls across the country. In the past, the company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash.

Since you are well trained in budgeting, you have decided to prepare comprehensive budgets for the upcoming second quarter in order to show management the benefits that can be gained from an integrated budgeting program. To this end, you have worked with accounting and other areas to gather the information assembled below.

The company sells many styles of earrings, but all are sold for the same price—$10 per pair. Actual sales of earrings for the last three months and budgeted sales for the next six months follow (in pairs of earrings):

January (actual)

20,000

 June (budget)

50,000
February (actual)

26,000

 July (budget)

30,000
March (actual)

40,000

 August (budget)

28,000
April (budget)

65,000

 September (budget)

25,000
May (budget)

100,000

The concentration of sales before and during May is due to Mother’s Day. Sufficient inventory should be on hand at the end of each month to supply 40% of the earrings sold in the following month.

Suppliers are paid $4 for a pair of earrings. One-half of a month’s purchases is paid for in the month of purchase; the other half is paid for in the following month. All sales are on credit, with no discount, and payable within 15 days. The company has found, however, that only 20% of a month’s sales are collected in the month of sale. An additional 70% is collected in the following month, and the remaining 10% is collected in the second month following sale. Bad debts have been negligible.

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