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Readme [11.4K]
3 years ago
13

Eliza Savage received a statement from her bank showing a checking account balance of $324.18 as of January 18. Her own checkboo

k shows a balance of $487.38 as of January 29. The bank returned all of the cancelled checks but three. The amounts of these three checks are $15.00, $77.49, and $124.28. How much did Eliza deposit in her account between January 18 and January 29?
Mathematics
2 answers:
serg [7]3 years ago
8 0

3 checks total : 15.00 + 77.49 + 124.28 = 216.77

 that amount will still need to be deducted from the bank

so 324.18- 216.77=107.41

her checkbook has a total of 487.38

487.38-107.41 = 379.97 is the amount she deposited into her account

Misha Larkins [42]3 years ago
3 0

Answer:

The amount she deposited in her account between January 18 and January 29 is $379.97

Step-by-step explanation:

Given :

Eliza showing a checking account balance of $324.18 as of January 18.

Her own checkbook shows a balance of $487.38 as of January 29.

The bank returned all of the cancelled checks but three. The amounts of these three checks are $15.00, $77.49, and $124.28.

To Find : Eliza deposit in her account between January 18 and January 29.

Solution :

Eliza showing a checking account balance of $324.18 as of January 18.

Total amount of three checks =  $15.00 + $77.49+ $124.28 =$216.77

The account balance after the deduction of three checks amount

=  $324.18 -$216.77 = $107.41

So, the new balance is $107.41.

Her own checkbook shows a balance of $487.38 as of January 29.

So, the amount she deposited  between January 18 and January 29

= $487.38-$107.41 = $379.97

Hence , The amount she deposited in her account between January 18 and January 29 is $379.97

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Ghost, Inc., has no debt outstanding and a total market value of $369,600. Earnings before interest and taxes, EBIT, are project
arlik [135]

Answer:

Ghost Inc.

A1.

Earnings Per share (EPS)

EPS in normal projection is $4.61 per share

EPS in an expansion is $5.31 Per share

EPS in a recession is $3.51 Per share

A2.

Changes to EPS in an expansion is +15.18%

Changes to EPS in a recession is -23.86%

B1.

Earnings Per share (EPS)

EPS in normal projection is $7.23 per share

EPS in an expansion is $8.62 Per share

EPS in a recession is $5.01 Per share

B2.

Changes to EPS in an expansion is +19.23%

Changes to EPS in a recession is -30.71%

Step-by-step explanation:

<u>Underlying Information:</u>

Earnings before interest and taxes, EBIT projections = $51,000

Expansionary EBIT projections = $51,000 x (100% + 15%) = $58,650

Recessionary EBIT projections = $51,000 x (100% -24%) = $38,760

Tax Rate = 24%

Market to Book Ratio = 1.0

Stock Price is constant.

Solution to A1.

<u>Scenario 1 (Projected Earnings)</u>

Earnings Per Share (EPS) = Net Income (Earnings after Tax) divided by Outstanding Shares in Issue

Net Income = EBIT minus tax = $51,000 - ($51,000 x 24%)

                                                 = $51,000 - $12240

                                                 = $38,760

Outstanding shares in issue = 8,400 ordinary Shares

EPS = $38,760 divided by 8,400 shares = $4.61 Per share

<u>Scenario 2 (Projected Earnings in a strong expansion)</u>

Earnings Per Share (EPS) = Net Income (Earnings after Tax) divided by Outstanding Shares in Issue

Net Income = EBIT minus tax = $58,650 - ($58,650 x 24%)

                                                 = $58,650 - $14,076

                                                 = $44,574

Outstanding shares in issue = 8,400 ordinary Shares

EPS = $44,574 divided by 8,400 shares = $5.31 Per share

<u>Scenario 3 (Projected Earnings in a Recession)</u>

Earnings Per Share (EPS) = Net Income (Earnings after Tax) divided by Outstanding Shares in Issue

Net Income = EBIT minus tax = $38,760 - ($38,760 x 24%)

                                                 = $38,760 - $9,302.4

                                                 = $29,457.6

Outstanding shares in issue = 8,400 ordinary Shares

EPS = $44,574 divided by 8,400 shares = $3.51 Per share

Solution to A2.

1.Changes to EPS in an expansion = EPS (Expansion) minus EPS (normal projection), all divided by EPS (normal projection)

= (5.31 - 4.61) / 4.61

= +15.18% change during an expansion

2.Changes to EPS in a recession = EPS (Recession) minus EPS (normal projection), all divided by EPS (normal projection)

= (3.51 - 4.61) / 4.61

= -23.86% change during a recession

<u>Underlying Information:</u>

Debt issue = $185,000

Interest on debt issued = 6% = $11,100

Market to Book Ratio = 1.0

Stock Price is constant.

Therefore Share Price  = Market Value divided by Outstanding shares in issue = 369,600 / 8400 = $44

This implies our proceeds of $185,000 from debt issue would have repurchased $185,000 divided by $44 = 4,205 ordinary shares

This decision to repurchase its shares indicates the shares outstanding will reduce by 4,205. New outstanding shares will now be 4,195 shares

*Earnings before interest and taxes, EBIT normal projections  = $51,000 & Earnings Before Tax  (EBT) = $51,000 minus $11,100 (debt interest) =  $39,900

*Expansionary EBIT projections = $51,000 x (100% + 15%) = $58,650 & Earnings Before Tax = $58,650 minus $11,100 (debt interest) =  $47,550

*Recessionary EBIT projections = $51,000 x (100% -24%) = $38,760 & Earnings Before Tax = $38,760 minus $11,100 (debt interest) =  $27,660

Tax Rate = 24%

Solution to B1.

<u>Scenario 1 (Projected Earnings)</u>

Earnings Per Share (EPS) = Net Income (Earnings after Tax) divided by Outstanding Shares in Issue

Net Income = EBT minus tax = $39,900 - ($39,900 x 24%)

                                                 = $39,900 - $9,576

                                                 = $30,324

Outstanding shares in issue = 4,195 ordinary Shares

EPS = $30,324 divided by 4,195 shares = $7.23 Per share

<u>Scenario 2 (Projected Earnings in a strong expansion)</u>

Earnings Per Share (EPS) = Net Income (Earnings after Tax) divided by Outstanding Shares in Issue

Net Income = EBT minus tax = $47,550 - ($47,550 x 24%)

                                                 = $47,550 - $11,412

                                                 = $36,138

Outstanding shares in issue = 4,195 ordinary Shares

EPS = $36,138 divided by 4,195 shares = $8.62 Per share

<u>Scenario 3 (Projected Earnings in a Recession)</u>

Earnings Per Share (EPS) = Net Income (Earnings after Tax) divided by Outstanding Shares in Issue

Net Income = EBT minus tax = $27,660 - ($27,660 x 24%)

                                                 = $27,660 - $6,638.40

                                                 = $21,021.60

Outstanding shares in issue = 4,195 ordinary Shares

EPS = $21,021.60 divided by 4,195 shares = $5.01 Per share

Solution to B2.

1.Changes to EPS in an expansion = EPS (Expansion) minus EPS (normal projection), all divided by EPS (normal projection)

= (8.62 - 7.23) / 7.23

= +19.23% change during an expansion

2.Changes to EPS in a recession = EPS (Recession) minus EPS (normal projection), all divided by EPS (normal projection)

= (5.01 - 7.23) / 7.23

= -30.71% change during a recession

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