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slava [35]
2 years ago
15

Your company, a small start-up corporation, buys raw materials from Regina Fabrics on credit. Because her company has had severa

l problems over the recent months, Regina demands either full payment in advance or a guaranty from someone with proof of assets to cover the debt. Your company does not have the cash on hand but you have sufficient assets to cover the debt and so you sign a guaranty on a six-month loan for the fabric. After two months, your company has the cash to pay off the loan and your financial officer offers to pay Regina. Because of some issues with her company, she refuses to accept payment and requests that you continue to pay the monthly payments. A month later your company is now short on cash and Regina comes to you as the guaranty and requests that you make the payment. You are unhappy that she didn't accept the payment when you had the cash. Evaluate whether or not you should have to pay as the guaranty.
Business
1 answer:
Goryan [66]2 years ago
8 0

Answer: See explanation

Explanation:

I believe that the main thing here that can favor my company is if there's documentation for every process involved with my dealings with Regina Fabrics.

This could have been solved if she didn't reject the cash that was offered to her company after two months, so there should be a formal documents that shows that she rejected the cash which should be acknowledged and signed by her. Also, the monthly payments received by her should be documented as well.

With regards to the above, if there is a formal documentation in place, then I won't have to pay as the guaranty but if this isn't in place, then I may have to pay since there won't be evidences against her.

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A strength of Generation X managers is likely to be their ability to provide feedback to employees

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Company had net income of $265,307. Depreciation expense is $27,888. During the year, Accounts Receivable and Inventory increase
Dafna1 [17]

option D is the correct answer - $254094

<u>Explanation:</u>

<u>As per the given data in the question, the following is used to calculate the net cash from the operating activities. </u>

<u>Net Income = 265307 </u>

Add : Depreciation = 27888

Less Increase in Account receivable = (17637)

Less Increase in Closing stock = ($28123)

Add : Prepaid Expenses ( Decrease) = 2852

Less: Decrease in Accounts payable = (4066)

Add: Loss on sale of Asset ( not Operating in nature) = 7873

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3 0
3 years ago
The biggest factor in determining the price of a mortgage is:
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5 0
3 years ago
A garment manufacturing company makes 380,000 articles per year. Each article takes 95 minutes of direct labor at the rate of $9
ANTONII [103]

Answer:

The maximum amount the company should pay for the new machine is $1,567,500 if it wants to break even by the end of the first year

Explanation:

Number of article (N) = 380.000

Time for each articles (T) = 95 minutes = 1.583 hours

Direct Labour Cost (D1) = $9 per hour

Overhead Cost (O1)= $7.50 per direct labour hour

Total cost for labour(C)=   D1 + O1= $16.50 per hour

Selling price of articles(S1) = $80 per article

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=$30,400,000

Profit in this process (R1) = S - P1

=30,400,000 - 9,925,410

=$20,474,590 per year

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=380,000 * 1.333 * 16.50

=$8,357,910

Profit in this Process(R2)= S-P2=

=30,400,000 - 8,357,910

=$22,042,090 per year

Net Profit gain by new machine = R2 - R1

=$22,042,090 - $20,474,590

=$1,567,500 per year

The maximum amount the company should pay for the new machine is $1,567,500 if it wants to break even by the end of the first year

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3 years ago
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