Harvard Business School 9-282-042 Rev. September 15‚ 1986 Marriott Corporation The idea of repurchasing shares was no stranger to Bill Marriott by January 1980. Almost five million shares of common stock had been repurchased on the open market by Marriott Corporation during 1979 at a total cost of $74 million and an average price of $15.16 in the belief that they were undervalued—a belief that still was not fully reflected in the market price. At $19 5/8‚ the stock was selling at only six
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What should the controller of Lexsteel do in order to address the potential problems within the corporation? • The controller became aware of the potential problems with the accounts payable system because of the discussion made with the external auditors. • Each branch manager is given the authority to order materials and issue emergency purchase orders directly to the vendors. • Physical counts of raw materials are not performed since there is a cost-effective computerized perpetual inventory
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the lead warehouse receiver Jennifer‚ sales and accounts payable Bradley‚ the warehouse general manager Lu Ellen‚ the shipper Buster‚ the shipper Lloyd‚ the purchasing agent Spare‚ for temporary help Jennifer works in the Sales Department by day and part-time as the evening accounts payable clerk with credit memo privileges to correct customer orders. Jennifer is a valuable asset for the organization. Since she joined the accounts payable department‚ the late payment rate has dropped by 20 percent
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2. How has Clarkson met the financing needs of the company from 1993 – 1995 ? Has the financial strength of the company improved or deteriorated ? The company has borrowed from bank as a term of note payable. | 1993 | 1994 | 1995 | Q1 1996 | Notes payable‚ bank | $ -- | $60 | $390 | $399 | Deteriorated. The liquidity in the company has kept decreased over the 3 years. Current ratio has gone down from 2.4945 to 1.1480‚ Quick Ratio down from 1.2691 to 0
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account receivable‚ account payable‚ at the same time no inventory turnover. Internet retailing is number 5. Online retailing is a fast pace industry‚ stores update their inventories quite often‚ and it is common that high volume orders from different customers. They all contribute to high account receivable‚ account payable‚ and receivable collection. Number 6 is discount general merchandise retail. Key indicators are PP&E‚ inventories‚ inventories turnover‚ accounts payable‚ accounts receivable and
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Betty’s Beautiful Baskets Betty’s Beautiful Baskets‚ a manufacturing business that sells baskets‚ wants a master budget prepared for the first three months of this year (January‚ February and March). The managers of the different departments have provided the following information: The Sales Manager has projected the following sales: o January 5‚000 units o February 4‚000 units o March 6‚000 units o Projected selling price is $35.00/unit Your Production
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Social Bond Theory Kevin Pascual Sociology 100 10/25/12 Social Bond Theory In 1969‚ a man named Travis Hirschi wrote and proposed something called the Social Control Theory. This theory can be applied in numerous kinds of ways when trying to address and solved social problems dealing with adolescents delinquent behavior. Before we can try to apply the Social Bond Theory‚ we must first understand the components and definition of the theory
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ch12 Student: ___________________________________________________________________________ 1. Securities classified as held to maturity could be reported as either current or long-term in a classified balance sheet‚ depending upon their maturity dates. True 2. All investments in debt securities whose fair values are not readily determinable are carried at historical cost. True 3. False All securities considered available for sale should be reported as current assets in a
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suppliers on time to take advantage of trade discounts. This is shown in Payables/Purchases per day increasing from 35.3 to 47.1. In addition‚ the Company is still paying cash to the previous equity owner after he sold his stake to Mr. Clarkson. This is a further use of cash which leads to additional decrease in liquidity. In order to pay his suppliers on time and pay his previous partner‚ Mr. Clarkson took on an additional notes payable from the bank from 1994 to 1995. 2. Due to illiquidity and the
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fair value of identifiable assets and liabilities acquired: Land & buildings $60 000 Plant & machinery 50 000 Office equipment 4 000 Shares in listed companies 15 000 Accounts receivable 26 000 Inventory 54 000 209 000 Accounts payable 14 000 Bank loan 16 000 30 000 Net fair value of identifiable assets and liabilities acquired $179 000 Consideration transferred: Shares in Queenfish Ltd Shares issued by Blackfish Ltd 60 000 Shares in Queenfish Ltd to issue: (3/4
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