Cash Discount on Sales Cash discount is the discount offered by seller for paying cash early. Cash discount is only offered on credit sales where the customers do not pay at the time of sale but promise to pay latter. There are two methods of accounting for sales that offer cash discounts; the gross method and the net method. These two methods are explained with the help of the following example: Example Suppose Company A sells certain goods at a price of $4‚400 with terms of payment
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Recommendations for Cash Connection Cash Connection – Case Study Analysis 2/24/2011 2/24/2011 We have come to the conclusion‚ after analyzing all information of the financial services industry‚ that the below recommendations will assure that Cash Connection will maintain is dominant market shares and differentiate itself from other competitors in the Payday Loan Industry. Recommendation: 1) Increase Cash Connection locations across the United States for targeting middle income
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Payment of accounts payable D D D 4. Purchase of inventory on account I D I 5. Purchase of inventory for cash N D N 6. Purchase of equipment with a 4-year note N N I 7. Retirement of bonds D D D 8. Sale of common stock I I D 9. Write-off of obsolete inventory D N I 10. Purchase of short-term investment for cash N N N 11. Decision to refinance on a long-term basis some
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Chrysler over the past two years‚ key financial ratio will have to be computed and compared with industry averages. To help in this endeavor‚ Chrysler’s financial statements are found on the following pages. Chrysler Corporation’s Balance Sheet December 31 (in million $s) Assets This year Last year Current Assets Cash and cash equivalents 5‚543 5‚145 Marketable securities 2‚582 3‚226 Accounts receivable 2‚003 1‚695 Inventories 4‚448 3‚356 Prepaid taxes 985 1‚330
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Week 9 - Target Corporation’s Financial Health Tamara Ray ACC 230 April 22‚ 2012 Milton Robinson Week 9 - Target Corporation’s Financial Health Target Corporation was founded in 1902 by George Dayton‚ a banker and real estate investor‚ the original name was Dayton Dry Goods Company‚ later in 1911 becoming Dayton Department Store‚ and in 1962 becoming Target a discount chain store. Target and its iconic red bulls-eye‚ named because it is a marksman’s goal to hit the center mark‚ much as it
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Case Study 2: Cash Connection: Are Its Payday Lender Strategy And Its Business Model Ethical? The Situation: Allen Franks‚ President of Cash Connections‚ a short-term cash lending firm realized that the most profitable endeavor in the check-cashing store industry is to set up stores in towns where no check-cash stores exist. Setting up Cash Connections in these places‚ his business became one of the leading companies in his
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“Cash for Clunkers” Tina Darling Econ 101 Cash for Clunkers The government tries to implement programs to assist individuals in living a better life. In 2009 a program called Cash for Clunkers or CARS (Consumer Assistance to Recycle and Save Act) was created to help get older cars off of the road. This program allowed individuals to voluntarily trade in and purchase vehicles under this act. This program helps consumers pay for a new‚ more fuel efficient vehicles from participating dealers when
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Roles and function of Law Tina McCammon LAW/421 January‚ 16‚2013 Roles and function of Law Business Law relates to the legal matters that involve commercial entities. Some examples of topics covered in business law are contracts domestic and internationally. Employee relations such as discriminatory issues also fall into the category of business law. The laws that fit into this category protect the consumers as well as business owners and stockholders. The textbook refers the case Cipollone
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Cash Connection 1. What are the dominant economic characteristics affecting the payday lending industry? The industry for short-term cash loans (payday loans) grew in the early 1990’s because of the shift in financial services marketplace. The cost structure of the market rose due to bounced checks‚ overdraft protection fees‚ and late bill payments penalties. Second the trend of regulation of payday advance service that allowed protection for consumers. To avoid such cost‚ payday loans were
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“Lead by example and you will teach others without having to say a word.” This is a quote that my grandparents would always instill in both myself and my siblings. Growing up in a traditional Polish family the phrase “it takes a village to raise a child” was very accurate. I can remember every member of my family playing a role in my upbringing. We were taught to respect authority and if you did something wrong you would be held accountable for it. At my high school there was a zero tolerance policy
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