Practical final exam | Business & Finance homework help

Question 16       
Martinez Corporation engaged  in the following  cash transactions  during  2014.       
Sale of land and  building         $191,000
Purchase of treasury stock         $40,000
Purchase of land         $37,000
Payment of cash dividend         $95,000
Purchase of equipment         $53,000
Issuance of common stock         $147,000
Retirement of bonds         $100,000
Determine Martinez’s free cash flow, assuming  that  it reported  net cash  provided  by operating  activities  of       

*   Question 17               
A  comparative  balance sheet for  Shabbona  Corporation  is  presented below.               
Assets        2014        2013
Cash        $73,000         $22,000
Accounts  receivable        82,000        66,000
Inventory        180,000        189,000
Land        71,000        110,000
Equipment        260,000        200,000
Accumulated Depreciation-Equipment        -69,000        -42,000
Total        $597,000         $545,000
Liabilities and  Stockholders’  Equity               
Accounts payable        $34,000         $47,000
Bonds payable        150,000        200,000
Common stock ($1 par)        214,000        164,000
Retained earnings        199,000        134,000
Total        $597,000         $545,000
Additional  information:               
1.      Net income for 2014 was $125,000.               
2.      Cash dividends of $60,000 were declared and paid.               
3.      Bonds payable amounting to $50,000 were retired through issuance of common stock .               

Question 18
Chris Spear invested $15,000 today in a fund that earns 8% compounded annually. (Use the tables below .)
To what amount will the investment grow in 3 years? To what amount would the investment   grow
in 3 years if the fund earns 8% annual interest compounded semiannually? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to O decimal places, e.g.  458,581.)

Question 19                                                   
Amy Monroe wants to create a fund today that will enable her to withdraw $25,000 per year for 8 years, with the first withdrawal to take place 5 years from today. (Use the tables   below.)                                                   
If the fund earns 8% interest, how much must Amy  invest today? (Round factor  values to 5 decimal places, e.g. 1.25124 and final answers to O decimal places, e.g. 458,581.)                                                   
*   Question 20
Zach Taylor is settling a $20,000 loan due today by making 6 equal annual payments of $4,727 .53. (Use the tables  below .)
What payments must Zach Taylor make to settle the loan at the same interest rate but with
the 6 payments beginning on the day the loan is signed? (Round factor values to 5 decimal places,
e.g. 1.25124 and final answers to O decimal places, e.g. 458,581.)

Question 21                                           
Alan Jackson  invests $20,000 at 8% annual  interest, leaving the money invested without withdrawing  any of the interest for  8 years. At the end of the 8 years, Alan withdraws  the accumulated  amount of    money.                                           
Compute the amount Alan would withdraw assuming the investment earns simple interest. (Round answers to O decimal places, e.g.  458,581.)                                           

Question 24
Morlan Corporation is preparing its December 31, 2014, financial statements . Two events that occurred between December 31, 2014, and March 10, 2015, when the statements were issued, are described below.
1.      A liability, estimated at $160,000 at December 31, 2014, was settled on February 26, 2015, at 170,000
2.  A flood loss of $80,000 occurred on March 1, 2015.
What effect do these subsequent events have on 2014 net  income

Question 27                                                   
Heartland Company’s budgeted sales and budgeted cost of goods sold for the coming year   are                                                   
$144,000, 000 and $99,000,000, respectively. Short-term interest rates are expected to average 10% . If Heartland can increase inventory turnover from its present level of 9 times a year to a level of 12 times per year .                                                   
Compute its expected cost savings for the coming  year.                                                   

Question 30                   
At December 31, 2014, Grinkov Corporation had the following account   balances.                   
Installment Accounts  Receivable,  2013                    $65,000
Installment Accounts  Receivable,  2014                    110,000
Deferred Gross Profit, 2013                    23,400
Deferred Gross Profit, 2014                    41,800
Most of Grinkov’s sales are made on a 2-year installment  basis.                   
Indicate how these accounts  would  be reported in Grinkov’s December  31, 2014, balance sheet. The  2013 accounts are collectible  in 2015, and the 2014 accounts are collectible  in 2016                   

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more