{"id":61432,"date":"2022-05-15T23:56:35","date_gmt":"2022-05-15T23:56:35","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/fin-3000-week-2-hw-assignment-chapter-3-and-4-problems\/"},"modified":"2022-05-15T23:56:35","modified_gmt":"2022-05-15T23:56:35","slug":"fin-3000-week-2-hw-assignment-chapter-3-and-4-problems","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/fin-3000-week-2-hw-assignment-chapter-3-and-4-problems\/","title":{"rendered":"Fin 3000 week 2 hw assignment chapter 3 and 4 problems"},"content":{"rendered":"
\n

Problems\u00a0\u00a0\u00a0\u00a0\u00a0Chapter 3: P3-5, P3-9 P3-10, P3-22;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

Chapter 4: P4-1, P4-4, P4-7, P4-8\u00a0
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
Week\u00a0\u00a0\u00a0\u00a0\u00a02\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
P3-5\u00a0 Everdeen Mining, Inc., ended 2015 with a net profit before taxes of $436,000.\u00a0\u00a0 The company is subject to a 40% tax rate and must pay $64,000 in preferred stock dividends before distributing any earnings on the 170,000 shares of common stock currently outstanding.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0a.\u00a0Calculate Philagem’s 2015 earnings per share (EPS)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
b. If the firm paid common stock dividends of $0.80 per share, how many dollars would go to retained earnings?<\/p>\n

P3-9\u00a0Initial sale prince of common stock\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
\u00a0\u00a0Haymitch Corporation has one issue of preferred stock and one issue of common stock outstanding.\u00a0 Given Beck’s stockholders’ equity account that follows, determine the original price per share at which the firm sold its single issue of common stock.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
P3-10\u00a0Statement of retained earnins\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
\u00a0Hayes Enterprises began 2015 with a retained earnings balance of $928,000. During 2015, the firm earned $377,000 after taxes.\u00a0 From this amount, preferred stockholders were paid $47,000 in dividends.\u00a0 At year-end 2015, the firm’s retained earnings totaled $1,048,000.\u00a0 The firm had 140,000 shares of common stock outstanding during 2015.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
\u00a0a.\u00a0Prepare a statement of retained earnings for the year ended December 31, 2012 for Hayes Enterprises.\u00a0 (Note: be sure to calculate and include the amon of cash dividends paid in 2012.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
b.\u00a0Calculate the firm’s 2015 earnings per share (EPS)
c.\u00a0How large a per-share cash dividend did the firm pay on common stock during 2015?\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
P4-1\u00a0Depreciation\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
\u00a0On March 20, 2015, Norton Systems acquired two new assets.\u00a0 Asset A was research equipment costing $17,000 and having a 3-year recovery period.\u00a0 Asset B was duplicating equipment having an installed cost of $45,000 and a 5-year recovery period.\u00a0 Using the MACRS depreciation percentages in Table 4.2, prepare a depreciation schedule for each of these assets.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

P4-4\u00a0Depreciation and accounting cash flow\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
\u00a0A firm in the third year of depreciating its only asset, which originally cost $180,000 and has a 5-year MACRS recovery period, has gathered the following data relative to the current year’s operations:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
\u00a0\u00a0Accruals\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0$15,000\u00a0\u00a0\u00a0
\u00a0\u00a0Current assets\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0$1,20,000\u00a0\u00a0\u00a0
\u00a0\u00a0Interest expense\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0$15,000\u00a0\u00a0\u00a0
\u00a0\u00a0Sales revenue\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0$4,00,000\u00a0\u00a0\u00a0
\u00a0\u00a0Inventory\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0$70,000\u00a0\u00a0\u00a0
\u00a0\u00a0Total costs before depreciation, interest, and taxes\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0$2,90,000\u00a0\u00a0\u00a0
\u00a0\u00a0Tax rate on ordinary income\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a040%\u00a0\u00a0\u00a0
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
\u00a0a.\u00a0Use the relevant data to determine the operating cash flow (see Equation 4.2) for the current year.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

P4-7\u00a0A firm has actual sales of $65,000 in April and $60,000 in May.\u00a0 It expects sales of $70,000 in June and $100,000 in July and in August.\u00a0 Assuming that sales are the only source of cash inflows and that half of them are for cash and the remainder are collected evenly over the following 2 months, what are the firm’s expected cash receipts for June, July and August?\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
P4-8\u00a0Cash disbursement schedule\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
\u00a0Maris Brothers, Inc., needs a cash disbursement schedule for the months of April, May, and June.\u00a0 Use the format of Table 4.9 and the following information in its preparation.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Problems\u00a0\u00a0\u00a0\u00a0\u00a0Chapter 3: P3-5, P3-9 P3-10, P3-22;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Chapter 4: P4-1, P4-4, P4-7, P4-8\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Week\u00a0\u00a0\u00a0\u00a0\u00a02\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0P3-5\u00a0 Everdeen Mining, Inc., ended 2015 with a net profit before taxes of $436,000.\u00a0\u00a0 The company is subject to a 40% tax rate and must pay $64,000 in preferred stock dividends before distributing any earnings on the 170,000 shares of common stock currently outstanding.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0a.\u00a0Calculate […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-61432","post","type-post","status-publish","format-standard","hentry","category-education"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/61432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=61432"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/61432\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=61432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=61432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=61432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}