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LEAF Spanish Vocabulary: Business Finance

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ACCOUNTING

The current asset section of Guardian Consultant’s balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2016 balance sheet reported the following: cash, $1,300,000; prepaid expenses,$360,000; noncurrent assets, $2,400,000; and shareholders’ equity,$2,500,000. The current ratio at the end of the year was 2.0 and the debt to equity ratio was 1.4. Required: Determine the following 2016 amounts and ratios: 1. Current liabilities. 2. Long-term liabilities. 3. Accounts receivable. 4. The acid-test ratio.

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ACCOUNTING

Cleary’s Music Center has nine employees. The employees are paid weekly with overtime after 40 hours per week. The overtime rate is $1\frac{1}{2}$ times the regular rate of pay. Payroll information for the week ending June 12 follows: $$ \begin{array}{lll} \text{Employee} & \text{Pay Rate } & \text{Hours}\\ \text{David Clune} & \text{$\$ 6.95$} & \text{$33\frac{1}{2}$}\\ \text{Richard Lang} & \text{$\$ 7.80$} & \text{38}\\ \text{Jane Longas} & \text{$\$ 7.25$} & \text{43}\\ \text{Betty Quinn} & \text{$\$ 8.30$} & \text{$44\frac{1}{4}$}\\ \text{John Sullivan} & \text{$\$ 8.30$} & \text{$39\frac{1}{2}$}\\ \text{Kelly Talbert} & \text{$\$ 7.50$} & \text{40}\\ \text{Gene Trimbell} & \text{$\$ 9.75$} & \text{$42\frac{1}{2}$}\\ \text{Heidi Varney} & \text{$\$ 8.75$} & \text{$34\frac{1}{4}$}\\ \text{Kevin Wallace} & \text{$\$ 9.25$} & \text{46}\\ \end{array} $$ Prepare a form similar to the one that follows. Calculate regular earnings, overtime earnings, and gross earnings for each employee. $$ \begin{matrix} \text{ } & \text{Total} & \text{Pay} & \text{Regular} & \text{Overtime} & \text{Gross}\\ \text{Employee} & \text{Hours} & \text{Rate} & \text{Earnings} & \text{Earnings} & \text{Earnings}\\ \hline \text{Clune, David} & \text{$33\frac{1}{2}$} & \text{\$6.95} & \text{\$232.83} & \text{-0-} & \text{\$232.83}\\ \end{matrix} $$

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ACCOUNTING

Regina Delgado owns a business called Hot Suds Car Wash. She uses the following accounts: $$ \begin{matrix} \text{General Ledger} & \text{ }\\ \hline \text{101 Cash in Bank} & \text{201 Accounts Payable—}\\ \text{110 Accounts Receivable—} & \text{Allen Vacuum Systems}\\ \text{Valley Auto} & \text{301 Regina Delgado, Capital}\\ \text{125 Office Equipment} & \text{ }\\ \text{130 Office Furniture} & \text{ }\\ \text{135 Car Wash Equipment} & \text{ }\\ \end{matrix} $$ For each transaction: 1. Determine which accounts are affected. 2. Prepare T accounts for the accounts affected. 3. Enter the debit and credit amounts in the T accounts. $$ \begin{array}{rl} \text{Date} & \text{Transactions}\\ \hline \text{May 5} & \text{1. Regina Delgado invested an additional $\$40,000$ cash in her business.}\\ \text{12} & \text{2. Bought another car wash system on account for $\$27,000$ from Allen Vacuum Systems.}\\ \text{17} & \text{3. Regina Delgado transferred some of her personal office furniture, valued at $\$3,750$, to her business.}\\ \text{24} & \text{4. Hot Suds Car Wash purchased additional office equipment for $\$7,500$. Payment was made by check.}\\ \text{29} & \text{5. Hot Suds Car Wash sold some surplus car washing equipment on account to Valley Auto for $\$1,200$.}\\ \end{array} $$

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ACCOUNTING

Syntax Corporation is an international manufacturer of fragrances for women. Management at Syntax is considering expanding the product line to men’s fragrances. From the best estimates of the marketing and production managers, annual sales (all for cash) for this new line are 2,000,000 units at $100 per unit; cash variable cost is$50 per unit; and cash fixed costs are $18,000,000 per year. The investment project requires$100,000,000 of cash outflow and has a project life of 4 years. At the end of the 4-year useful life, there will be no terminal disposal value. Assume all cash flows occur at year-end except for initial investment amounts. Men’s fragrance is a new market for Syntax, and management is concerned about the reliability of the estimates. The controller has proposed applying sensitivity analysis to selected factors. Ignore income taxes in your computations. Sentax’s required rate of return on this project is 16%. 1. Calculate the net present value of this investment proposal. 2. Calculate the effect on the net present value of the following two changes in assumptions. (Treat each item independently of the other.) a. 20% reduction in the selling price. b. 20% increase in the variable cost per unit. 3. Discuss how management would use the data developed in requirements 1 and 2 in its consideration of the proposed capital investment.

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LEAF Spanish Vocabulary: Business Finance

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