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SVEN [57.7K]
3 years ago
8

Nevada Boot Co. reported net income of $217,400 for its year ended December 31, 2018. Purchases totaled $152,800. Accounts payab

le balances at the beginning and end of the year were $36,900 and $31,200, respectively. Beginning and ending inventory balances were $43,300 and $47,000, respectively. Assuming that all relevant information has been presented, Nevada Boot would report operating cash flows of:
Business
1 answer:
leonid [27]3 years ago
7 0

Answer:

Operating cash flows = $208,000

Explanation:

we know here that

accounts payable balance has decreased from $36,900 and $31,200

inventory balance has increased from $43,300 and $47,000

so to find out  the operating cash flow  any decrease in current liabilities and any increase in current assets should be subtracted from net income

so

accounts payable=  current liability

and inventory = current asset

and

The operating cash flows to be reported should be computed as

Operating cash flows = Net income - Decrease in accounts payable balances - Increase in inventory balance      ....................1

Operating cash flows =

Operating cash flows =   $217,400 - ($36,900 - $31,200) - ($47,000 - $43,300)

Operating cash flows = $208,000

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4 0
2 years ago
Which would provide the least ambiguous description of a property, for purposes of a deed?
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A legal description would provide the least ambiguous description of a property, for purposes of a deed.

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8 0
2 years ago
A hospital revenue bond issue is being underwritten on a negotiated basis. The offering consists of $20,000,000 par value of ter
ddd [48]

Answer:

The selling group member earns $12 on that sale

Explanation:

When selling a bond directly to the public, a group member earns a total takedown which is the total of the additional takedown plus the selling concession.

$12 + $15

= $27

Now if a selling group member finds a customer, then $15 which is the selling concession is given up leaving the member to earn $12 (the additional takedown) on that sale.

6 0
3 years ago
Heather Smith is considering a bond investment in Locklear Airlines. The $1,000 parvalue bonds have a quoted annual interest rat
gulaghasi [49]

Answer:

Price of the Bond is $868.82

Explanation:

Market Value of the bond is the present value of all cash flows of the bond. These cash flows include the coupon payment and the maturity payment of the bond. Price of the bond is calculated by following formula:

Market Value of the Bond = C/2 x [ ( 1 - ( 1 + r/2 )^-2n ) / r/2 ] + [ $1,000 / ( 1 + r/2 )^2n ]

Whereas

C = coupon payment = $110.00 (Par Value x Coupon Rate)

n = number of years = 7

r = market rate, or required yield = 14% = 0.14

P = value at maturity, or par value = $1,000

Price Value of the Bond = $110/2 x [ ( 1 - ( 1 + 14%/2 )^-2x7 ) / 14%/2 ] + [ $1,000 / ( 1 + 14%/2 )^2x7 ]

Price Value of the Bond = $55 x [ ( 1 - ( 1 + 7% )^-14 ) / 7% ] + [ $1,000 / ( 1 + 7% )^14 ]

Price of the Bond = $481.0+$387.82

Price of the Bond = $868.82

8 0
3 years ago
Hugh has the choice between investing in a city of heflin bond at 6.60 percent investing in a surething bond at 10.00 percent. a
butalik [34]

Answer: Surething Inc, needs to issue bonds with 11% interest rate in order to make Hugh indifferent between investing in two bonds.

We arrive at the answer in the following manner:

The City of Helfin bonds are municipal bonds and hence they are tax free. This means that Hugh will get an after - tax return of 6.6%.

The bonds of Surething Inc offering a 10% interest, however are taxed at 40%. So, the current after-tax returns of the bond is:

After - tax return= Pre- tax return * (1 -tax rate)

After-tax return= 0.1 * (1-0.4)

Current after tax return = 0.06 or 6%

However Hugh will be indifferent to investing in these two bonds only if they offer the same after-tax return of 6.6%.

Given this, we can calculate the indifference rate as follows:

After - tax return= Pre- tax return * (1 -tax rate)

0.066= Pre- tax return * (1 -0.4)

\frac{0.066}{0.6}= Pre-tax return

Pre-tax return = 0.11 or 11%.

8 0
3 years ago
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