Maximum Bank has analyzed the accounts receivable of Scientific Software, Inc. The bank has chosen eight...
Maximum Bank has analyzed the accounts receivable of Scientific Software, Inc. The bank has chosen eight accounts totaling $210,000 that it will accept as collateral. The bank's terms include a lending rate set at prime +3% and a 2% commission charge. The prime rate currently is 8%.
a. The bank will adjust the accounts by 10% for returns and allowances. It then will lend up to 95% of the adjusted acceptable collateral. What is the maximum amount that the bank will lend to Scientific Software?
b. What is Scientific Software's effective annual rate of interest if it borrows $135,000 for 12 months? For 6 months? For 3 months? (Note: Assume a 365-day year and a prime rate that remains at 8% during the life of the loan.)
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Maximum Bank has analyzed the accounts receivable of
Scientific Software, Inc. The bank has chosen eight...
Accounts receivable as collateral, cost of borrowing Maximum Bank has analyzed the accounts recei...
Accounts receivable as collateral, cost of borrowing Maximum Bank has analyzed the accounts receivable of Scientific Software, Inc. The bank has chosen eight accounts totaling S200000 that it will accept as collateral. The bank's terms include a len ing rate set at p me + 3 5% and a 1 5% or mission dare The p in rate currently is 9%. a. The bank will adjust the accounts by 10% for returns and allowances amount that the bank will lend...
$ 300 Assets: Cash Accounts Receivable Supplies $12,500 700 630 FAST DELIVERIES, INC. Balance Sheet at...
$ 300 Assets: Cash Accounts Receivable Supplies $12,500 700 630 FAST DELIVERIES, INC. Balance Sheet at January 1 Liabilities: Accounts Payable Stockholders' Equity: Common Stock Retained Earnings Total Liabilities and Stockholders' Equity 11,770 1,760 $13,830 Total Assets $13,830 Two employees have been hired, at a monthly salary of $2,300 each. The following transactions occurred during January of the current year. Ch. 2 2 2 January 1 2 3 نہ یہ کہ یہ یہ بیا بیا بیا بیا 4 5 6...
T-balance $ 400 Assets: Cash Accounts Receivable Supplies $10,500 880 750 FAST DELIVERIES, INC. Balance Sheet...
T-balance
$ 400 Assets: Cash Accounts Receivable Supplies $10,500 880 750 FAST DELIVERIES, INC. Balance Sheet at January 1 Liabilities: Accounts Payable Stockholders' Equity: Common Stock Retained Earnings Total Liabilities and Stockholders' Equity 11,519 229 $12,130 Total Assets $12,130 Two employees have been hired, at a monthly salary of $2,540 each. The following transactions occurred during January of the current year ch. 2 2 2 January 1 2 3 NNNN 4 5 6 2 8 9 10 16 20 $5,100...
Income Statment, Statment of retained earnings, balance sheet $ 400 Assets: Cash Accounts Receivable Supplies $10,500...
Income Statment, Statment of retained earnings, balance sheet
$ 400 Assets: Cash Accounts Receivable Supplies $10,500 880 750 FAST DELIVERIES, INC. Balance Sheet at January 1 Liabilities: Accounts Payable Stockholders' Equity: Common Stock Retained Earnings Total Liabilities and Stockholders' Equity 11,510 220 $12,13e Total Assets $12,130 Two employees have been hired, at a monthly salary of $2,540 each. The following transactions occurred during January of the current year ENN January 1 2 3 2 2 2 2 2 2 3...
Required: 1. What is the amount of Apple’s accounts receivable as of September 30, 2017? 2....
Required:
1. What is the amount of Apple’s accounts
receivable as of September 30, 2017?
2. Compute Apple’s accounts receivable turnover as
of September 30, 2017.
3. How long does it take, on average, for
the company to collect receivables for fiscal year ended September
30, 2017?
4. Apple’s most liquid assets include (a)
cash and cash equivalents, (b) short-term marketable
securities, (c) accounts receivable, and (d)
inventory. Compute the percentage that these liquid assets (in
total) make up of...
Read below and answer, Why does a business that has profit of $30,000 per year need...
Read below and answer, Why does a business that has profit of
$30,000 per year need a bank loan?
Jones Electrical Distribution After several years of rapid growth, in the spring of 2007 Jones Electrical Distribution anticipated a further substantial increase in sales. Despite good profits, the company had experienced a shortage of cash and had found it necessary to increase its borrowing from Metropolitan Bank-a local one- branch bank-to $250,000 in 2006. The maximum loan that Metropolitan would make...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
Accounts receivable as collateral, cost of borrowing Maximum Bank has analyzed the accounts receivable of Scientific Software, Inc. The bank has chosen eight accounts totaling S200000 that it will accept as collateral. The bank's terms include a len ing rate set at p me + 3 5% and a 1 5% or mission dare The p in rate currently is 9%. a. The bank will adjust the accounts by 10% for returns and allowances amount that the bank will lend...
$ 300 Assets: Cash Accounts Receivable Supplies $12,500 700 630 FAST DELIVERIES, INC. Balance Sheet at January 1 Liabilities: Accounts Payable Stockholders' Equity: Common Stock Retained Earnings Total Liabilities and Stockholders' Equity 11,770 1,760 $13,830 Total Assets $13,830 Two employees have been hired, at a monthly salary of $2,300 each. The following transactions occurred during January of the current year. Ch. 2 2 2 January 1 2 3 نہ یہ کہ یہ یہ بیا بیا بیا بیا 4 5 6...
T-balance
$ 400 Assets: Cash Accounts Receivable Supplies $10,500 880 750 FAST DELIVERIES, INC. Balance Sheet at January 1 Liabilities: Accounts Payable Stockholders' Equity: Common Stock Retained Earnings Total Liabilities and Stockholders' Equity 11,519 229 $12,130 Total Assets $12,130 Two employees have been hired, at a monthly salary of $2,540 each. The following transactions occurred during January of the current year ch. 2 2 2 January 1 2 3 NNNN 4 5 6 2 8 9 10 16 20 $5,100...
Income Statment, Statment of retained earnings, balance sheet
$ 400 Assets: Cash Accounts Receivable Supplies $10,500 880 750 FAST DELIVERIES, INC. Balance Sheet at January 1 Liabilities: Accounts Payable Stockholders' Equity: Common Stock Retained Earnings Total Liabilities and Stockholders' Equity 11,510 220 $12,13e Total Assets $12,130 Two employees have been hired, at a monthly salary of $2,540 each. The following transactions occurred during January of the current year ENN January 1 2 3 2 2 2 2 2 2 3...
Required:
1. What is the amount of Apple’s accounts
receivable as of September 30, 2017?
2. Compute Apple’s accounts receivable turnover as
of September 30, 2017.
3. How long does it take, on average, for
the company to collect receivables for fiscal year ended September
30, 2017?
4. Apple’s most liquid assets include (a)
cash and cash equivalents, (b) short-term marketable
securities, (c) accounts receivable, and (d)
inventory. Compute the percentage that these liquid assets (in
total) make up of...
Read below and answer, Why does a business that has profit of
$30,000 per year need a bank loan?
Jones Electrical Distribution After several years of rapid growth, in the spring of 2007 Jones Electrical Distribution anticipated a further substantial increase in sales. Despite good profits, the company had experienced a shortage of cash and had found it necessary to increase its borrowing from Metropolitan Bank-a local one- branch bank-to $250,000 in 2006. The maximum loan that Metropolitan would make...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
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