Essay about Rock Creek Golf Club

Regardless of what other pro athletes view on the game are, golf is a very competitive and highly paid sport. Tournaments are held at different times of the year in different parts of the world by hundreds of pro golfers. These tournaments can have prize money of hundreds of thousands of dollars.

The sum of the NPVs of future cash flows (cost savings) with tax savings from depreciation considered:

Joe signs a $5000, 8%, 6-month note dated September 1, 2009. What is Joe’s 2010 interest expense for this note?

Annual cash savings 1-5 72,540 65% 47,151 3.605 170 Tax savings due to depreciation 1-5 32,000 35% 11,200 3.605 40,376 Disposal value 5 40,000 0 40,000 0.567 22,680 Net Present Value

(TCO G) – (Ignore income taxes in this problem.) Tennessee Co. is considering the production of an exterior paint that will require the purchase of new mixing machinery. The machinery will cost $700,000, is expected to have a useful life of 12 years, and is expected to have a salvage value of $100,000 at the end of 12 years. The machinery will also need a $40,000 overhaul at the

2. Bounce Computer Corp allows customers to pay in installments for their products. Bounce only had two installment contracts outstanding during 2011. Each contract has a total contract price of $1,000,000 but is payable in five equal annual installments. Both contracts started in the same year. One contract is accounted for using the installment sales method, the other is accounted using the cost recovery method. Both contracts record the same amount of gross profit and have the same gross profit percentage in 2011. a. Assume 2011 is the 3rd year of both contracts, how much gross profit is recorded on each contract this year? If gross profit is equal for two methods, it must be the 1st year of recording GP under Cost Recovery. Cost Recovery: Total Cash Received = 600,000 = 200,000*3 periods Gross Profit Recorded = 600,000 – 1,000,000(1-GP) Under Installment: Gross Profit Recorded = 200,000*GP Therefore: 200,000*GP = 600,000 – 1,000,000(1-GP) 400,000 = 800,000GP GP = .50 Gross profit recorded for each

In this report I will discuss the communication problems which exist at Rolling Meadows Golf Club. The problems discussed will deal with channels of communication. The areas which are causing problems are internal. Radios would solve these internal problems.

Our town is notable for having several interesting golf courses. For those residents whose interests lie in other pursuits, those courses are a waste of large quantities of otherwise useful space that could be better used to construct another mall or store. For the golf enthusiasts among us, however, the preponderance of courses is a delightful benefit of living in this otherwise uninteresting locale, where the only saving grace is the plentiful supply of interesting people.

This is an in-depth analysis of the training I have received over the last three summers of being a Golf Course Maintenance Employee at Pelican Lakes Golf Course. First and foremost I would like to thank you for the amazing opportunity that you have provided me over the last three summers as employee under your watchful eye. I have gained multiple life and job skills in my years there that I will be able to take with me for years to come. You are a great leader, boss and mentor and have helped numerous young adults like myself by giving us a lending hand when needed and putting the trust in our hands to represent your name and the company you run. I want to go a little more in-depth with the analysis of the training I received from you and the other bosses at Pelican Lakes to give you a in-sight of the job well done that you constantly provide.

More than two decades ago, Ely Callaway set out to build a company that would bring more enjoyment and game improvement to golfers of all skill levels. He accomplished much of that goal in 1991, introducing a technological wonder called the Big Bertha Driver. By creating in Big Bertha a larger clubhead without adding weight, the late

The machine will have a depreciation of $140,000 for the first five years; this is determined by dividing the initial investment by five. The old machine will be sold in 2010 for $25,000 which is below the current book value of $36,000. This is why there is a capital gain of $3,850 that will add to the incremental savings plus the depreciation for that year. The new sheeter will be sold at the end of the last year for $120,000 which will be taxed at 35; this is why a cost of $42,000 appears for the last cash flow (Exhibit 1). The NPV is a positive $1,063,567 and the IRR is 36%, this shows that the project will add value to the company along with having a great return. The payback period for the project is 2.45…Using the growth rate of 3%, the sales are projected to be nearly doubled from 2009 with the new sheeter. However, Pitts believes that he would not be surprised to see them increase by 7% or

6.The Year 0 net investment outlay for the project is $-475,000. This computed by adding the price of the machinery, installation, shipping, and the change in net working capital. The non-operating cash flow when the project is

Arnold Palmer said it best. “Golf is deceptively simple and endlessly complicated; it satisfies the soul and frustrates the intellect.” The straightforward yet difficult facet has always drawn me to the sport. Golf has been a part of my life for as long as I can remember and I love all aspects about it: the competitiveness, the focus required, the life lessons, and the bonding it can create. The game of golf is my passion.

The actual production would begin in the third quarter of this year, therefore only half year’s depreciation should be counted on Equipment and IT communication in 2004 (According to Appendix A). The following years (2005-2008) incremental cash flows are computed by the same method. However as the IT equipment and furnishings would be depreciated on a straight line basis over 3 years, thus in year four (2007), there would be only half a year’s deprecation left and after that it will be used up. The last year’s net cash flow in 2009 should be included the extra terminal Value on that year, which includes 24 years’ residual value on building and one year and a half residual value on equipment totaled $2,990,412 with two assumptions of by using residual book values for the building and operating equipment and there will be no further NWS advantage after year 2009. Finally, by obtaining 6 years’ incremental cash-flows and discounting them back to time zero (with the estimate rate of return by 15%) lessing initial cost to get an appealing NPV of $1190528 (Luehrman, p. 3).

YEAR 0 2009 1 2010 2 2011 3 2012 4 2013 5 2014 6 2015 7 2016 8 2017 9 2018 10 Initial Investment Gross Revenue 2 COGS 3 Add'l revenue Less: COGS Loan down payment 4 Loan repayment Depreciation Additional workers Land square required Moving cost 5 Operating Expenses Total Expenses Net Income Before Tax Income Tax Net Income After Tax After Tax Cash Flow ATCF Cummulative ATCF NPV through Year N