Use the following informationto prepare the Juy cash budgetfor Acco Co. It should showexpected cash receipts andcash payments for the monthand the cash balance expectedon July 31. Question 1 What isnet income after taxes?Question 2 What is the amountof total assets? Question 3What is the amount of retainedearnings?

Step 1: Calculate Net Income after TaxesTo find the net income after taxes, we start with the net…

Answered: Use the following information to…

Foundations of Business (MindTap Course List)

6th Edition

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter16: Mastering Financial Management

Section: Chapter Questions

Problem 3DQ

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You work as a freelance accounting professional and have beenrecently engaged by the auditors of Life-Positive Inc. for anassignment. In examining the company’s records, you have extractedthe following information Life-Positive’s Account Balances 2021 ($) 2022 ($) Accounts Payable 24,600.00 21,250.00 Accounts receivable 15,700.00 12,340.00 Cash 23,450.00 28,600.00 Cost of goods sold 19,700.00 23,000.00 Depreciation 3,090.00 4,590.00 Dividends 5,800.00 10,800.00 Interest 2,340.00 2,890.00 Inventory 7,050.00 8,640.00 Long-term debt 28,000.00 30,000.00 Net fixed assets 41,500.00 48,000.00 Other expenses 2,400.00 2,800.00 Sales…
Returns means Select one: a. A sum of money borrowed in a bank b. The money invested in a business c. Money placed in a bank d. The profits made on investments
3. Explain horizontal and vertical analysis and when you would use one over the other.4. Discuss a money management challenge in a business setting and how you would overcome it.
17) Which of the following is the significance of Capital Budgeting? a. Irreversible b. All the options c. Long term effect d. Growth
QUES:- If a company’s Board of Directors wants its management to maximize shareholder wealth, should the CEO’s compensation be set as a fixed dollar amount, or should the compensation depend on how well the firm performs? If it is to be based on performance, how should performance be measured? Would it be easier to measure performance by the growth rate in reported profits or the growth rate in the stock’s value? Which would be the better performance measure? Why?
21) Which of the following is not popular in the present business scenario? a. Balance sheet b. None of the options c. Statement of changes in Equity d. Income Statement
Please provide the solutions and the correct answers. thank you! 1. The following were reflected from the records of War Freak Company:Earnings before interest and taxes = P1,250,000Interest expense = 250,000Preferred dividends = 200,000Payout ratio = 40 percentShares outstanding throughout 2013:Preferred = 20,000Common = 25,000Income tax rate = 40 percentPrice earnings ratio = 5 times The dividend yield ratio isa. 0.50b. 0.40c. 0.12d. 0.08 2. The Delta Company projects the following for the upcoming year:Earnings before interest and taxes = P40 millionInterest expense = P 5 millionPreferred stock dividends = P 4 millionCommon stock dividend payout ratio = 20%Average number of common shares outstanding = 2 millionEffective corporate income tax rate = 40% The expected dividend per share of common stock isa. P1.70b. P1.86c. P2.10d. P1.00 3. Following are selected data taken from the records of Jemson Company:Income before tax = P200,000Income tax rate = 40%Dividend payout ratio =…
(1) What role does a company’s strategic plan play inthe process of financial management? (2) How doeszero-based budgeting help a company spend its cashin the most effective ways possible?
1. explain the difference between strategic plans and budget plans? 2. how can budget facilitate communication and coordination? 3. Explain why many companies believe cash flow budgeting is important?
Which of the following questions would an auditor likely include on an internalcontrol questionnaire for notes payable?(1) Are assets that collateralize notes payable critically needed for the entity’s continued existence?(2) Are two or more authorized signatures required on checks that repay notes payable?(3) Are the proceeds from notes payable used for the purchase of noncurrent assets?(4) Are direct borrowings on notes payable authorized by the board of directors?
26) The firm must carefully select best investment alternatives for a stable return from the investment. To select the best investment, the finance manager should be well versed in the field of ___________. a. Cost of capital models b. Capital structure theories c. None d. Capital Budgeting techniques
Practical Activity: Do a short research project on the types of funds that fallunder the auspice of the Pension Funds Act. Identify well-known retirement funds that fallwithin these categories and obtain information about their registration in terms of thePension Funds Act.

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