JWI530_Week 4 Discussion

Assignment 1: TIME VALUE OF MONEY Objective: To further understand the concept of the time value of money. INSTRUCTIONS: In each problem, a. Translate data given in problems into their respective graphical representations - i.e. draw the correct cash flow diagram. b. Write down all pertinent given information or data on your paper. c. Calculate answers correctly. 5. A 45-year-old person wants to accumulate $750,000 by age 70. How much will she need to save each month, starting one month from now, if the interest rate is 0.5% per month?

Section V: SCF Question 3 Identify the following sections of the McDonald's SCF and record the amounts. Check the math by summing to the cash balance at end of year. Verify that the ending cash balance reported on the SCF is the same as reported on the balance sheet for the current year, Section Current Prior Year Second Prior Year Year Cash provided by operations? Click here to Click here to Click here to enter text. enter text. enter text. Cash used for investing activities? Click here to Click here to Click here to enter text. enter text. enter text. Cash used for financing activities? Click here to Click here to Click here to enter text. enter text. enter text. Cash and equivalents balance at end of year? Click here to Click here to Click here to enter text. enter text. enter text. D Focus lish (United States)

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Balance Sheet. Use Table 3.2 on page 82 as a guide to create a monthly balance sheet

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question 9

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Options purhcases cash disbursements sales cash receipts general

Personal Financial Statement Project For the Personal Financial Statement Project: 1. Record the events on the next page in the accompanying formula worksheet 2. Write out the journal entries for the events on the next page 3. Create the financial statements with the ending information from the worksheet 4. Once you have your Financial Statements completed, please make a comment or two in the online text input box about what the information is telling you Event List 1. Opened a bank account with previously earned (retained earnings) money for $100,000 2. Bought a house by paying $75,000 down in cash and taking a loan of $225,000 3. Bought a vehicle by paying $1,000 down in cash and taking a loan of $44,000 4. Worked (performed services) to clients for $80,000 cash 5. Paid for materials used (expense) in the services performed with cash for $50,000 6. Paid for repairs and utilities of the house and vehicle (just regular expenses) with cash for $8,500 7. During the year, you paid $5,000…

Question 2 Jordan Inc is trying to prepare a cash reconciliation for the month ended January 31, 2024. At that date, Jordan's books report a balance of $81,673 in their CIBC Chequing Account, and the balance on their January bank statement is $107,876. Jordan provides you with (1) the General Ledger which shows all the changes in the cash account during the year, and (2) a copy of the January bank statement. CIBC Chequing Account Description Opening balance Payment on account (cheque #1348) Date Jan 1 Jan 5 Jan 10 Jan 10 Jan 15 Jan 15 Jan 20 Jan 25 Jan 25 Jan 27 Jan 30 Jan 31 Jan 31 BUS285 Date January 1 January 1 January 4 January 5 January 11 January 11 Jordan Inc. General Ledger Month ended January 31, 2024 Cash out Interac machine Bank deposit January 12 January 14 January 15 January 15 January 21 January 25 January 27 January 27 January 31 Interac purchase - Tim Hortons Transfer to credit card payable Cash out Interac machine Payment on account (cheque #1349) Bank deposit CIBC…

January February March Sales $100,000 $121,000 $165,000 Manufacturing costs 42,000 52,000 59,000 Selling and administrative expenses 29,000 33,000 36,000 Capital expenditures 40,000 The company expects to sell about 15% of its merchandise for cash. Of sales on account, 65% are expected to be collected in full in the month following the sale and the remainder the following month. Depreciation, insurance, and property tax expense represent $8,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in June, and the annual property taxes are paid in October. Of the remainder of the manufacturing costs, 80% are expected to be paid in the month in which they are incurred and the balance in the following month. All sales and administrative expenses are paid in the month incurred. Current assets as of January 1 include cash of $38,000, marketable securities of $54,000, and accounts receivable of $116,000 ($88,000 from December sales and $28,000 from November…

Question: Imagine you are the finance manager of Al Mohsin Company. The company management feels that the cash management of the company should be made more effective. The following information from the company's records is available to you: Miscellaneous Month Sales Purchase Wages expenses February 7,000 8,000 40,000 20,000 1,000 March 55,000 14,000 3,000 April Мay 28,000 30,000 9,000 2,000 2,000 60,000 74,000 9,000 June 90,000 32,000 8,800 3,500 Additional Information 1. Al Mohsin LLC expects to have RO 8,000 cash balance at the beginning of April. 2. Period of credit allowed by suppliers – 2 months 3. 40% of the total sale is for cash. Half of the credit sale is collected in the next month of sale and the remaining half in the following month after that. 4. Delay in payment of wages 1/4 month 5. Delay in payment of expenses 1/2 month 6. Income tax to be paid in the month of June RO 1,500. You are required to : a. Prepare an estimate of cash position for three months from April to…

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Cash Flow Statement Use table 3.3 on page 86 as a guide to create a monthly cash flow statement

General accounting question