select three (3) members of the Dow Jones 30, and explain two (2) possible reasons why that list includes each company

Stock Market” Please respond to the following:

  • From the e-Activity, select three (3) members of the Dow Jones 30, and explain two (2) possible reasons why that list includes each company. Next, identify one (1) firm that is not in the Dow Jones 30, and suggest two (2) reasons why the list should or should not include this firm. Provide a rationale for your response.
  • Determine two (2) major differences between the NASDAQ market and the NYSE market, and indicate the main reasons why each of those differences exists. Provide a rationale for your responseClick Here For More Details on How to Work on this Paper……

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Which of the following does not affect a company’s dividend policy? a) Legal rules concerning capital impairment b) The efficient market hypothesis c) Tax position of shareholders

Which of the following does not affect a company’s dividend policy? a) Legal rules concerning capital impairment b) The efficient market hypothesis c) Tax position of shareholders

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Bear Stearns & Co

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Bear Stearns & Co
Answer the following 10 questions, using the financial statement data from Blockbuster
Entertainment Corporation. Show your work (i.e., note what numbers you’re using).
On May 9, 1989, Bear Stearns & Co. issued a report on Blockbuster Entertainment Corp., which is
reproduced in part below.
Blockbuster-Entertainment (Ticker symbol: BV, Price per share: $33 ½) increased owned and franchised
video stores from 19 at the end of 1986 to 415 at December 31, 1988. In the same period revenue
jumped from $7.4 million to $136.9 million. Reported earnings also leaped; from $.34 per share in 1986 to
$.57 per share in 1988. The stock carries an historical Price to Earnings ratio of 59, and there were
25,741,549 shares of common stock issued and outstanding as of 12/31/88.
A) Some of Blockbuster’s mergers with other video rental companies have been recorded as purchases.
In a merger treated as a purchase, the price paid is first allocated to the fair values of assets that can
be kicked, picked up or painted. Any excess paid for the company beyond these “fair values”
becomes goodwill, which Blockbuster labels “intangible assets relating to acquired businesses.” APB
Opinion 17 requires that goodwill be amortized to income (expensed) over 40 years or less.
In the past, many companies automatically adopted 40 year amortization. Current practice (which is
usually required by the SEC) is to relate the amortization period to the nature of the business
acquired. Thus in a typical hi-tech acquisition the SEC requires goodwill to be amortized over 5 to 7
years; in bank purchases, over 15 to 20 years.
Other information: Eight of the eighty company-owned stores that appeared in the 1987 10-K (annual
filing with the SEC) are not on the 1988 list. The maximum term of the company’s franchise
agreements is 25 years.
1) What is Blockbuster’s amortization timetable? Do you think it is appropriate?
2) What would be the impact on Blockbuster’s 1988 earnings per share if 5 year amortization
were applied to this goodwill?
B) On April 20, Blockbuster announced an agreement to merge with its largest franchisee, Video
Superstore. Video Superstore was Blockbuster’s largest customer for videotapes, accounting for 10%
of such sales in 1988, 21% in 1987, and 48% in 1986.
Since intra-company transactions are eliminated from the financial statements (it doesn’t make sense
to record sales to yourself!), these sales will disappear next year.
3) What would have been the effect on earnings per share if Video Superstore purchases were
not included in 1988 revenues?
C) BV drastically slowed its depreciation (amortization) of “hit* video tapes at the start of 1988. In 1987
BV depreciated its rental videotape “hits” over nine months, straight line. At the start of 1988, it
switched to a method it called “36 month accelerated.” The financial statements do not disclose how
accelerated the curve is, but do say that the company uses 150% of straight line, computed on a
monthly basis. Thus, the resulting depreciation is as follows:
First 12 months 40%
Second 12 months 30%
Third 12 months 30%
4) Over what period does BV depreciate its “base stock” videotapes?
5) What was the effect on earnings per share of the change in depreciation method for “hit” tapes
(assume that hit tapes made up 25% of new tape purchases, and that the average hit tape
was owned for half the year)?
D) BV also sells videotapes. However, most of the sales are in bulk to new franchisees, rather than to
store customers. In 1988, 68% of sales were to franchisees.Bear Stearns & Co
Page 2 of 10
6) What was the effect on earnings per share of these sales to franchisees?
E) BV charges franchisees various fees and discloses them in a somewhat confusing manner. The
income statement shows, in revenues:
Royalties and other fees $8,142,000
However, Note 1 to the financial statements lists:
Royalties and other fees $7,590,000
Area Development fees 550,000
Initial franchise fees 2,415,000
The first two items total to the income statement amount, the third seems to be buried, inexplicably, in
rental revenues.
7) What was the effect on 1988 earnings per share, of the non-recurring items: area development
fees and initial franchise fees?
8) What would BV’s 1988 earnings per share be after all of the above adjustments?
9) Ignoring #3 above, what would BV’s 1988 earnings per share be after
the above adjustments?
10) What would BV’s Price/Earnings ratio be, given all of the above
adjustments (including #3)?

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Conduct online research for federal income tax brackets for the current year. Which tax bracket do you fit into for your gross household income

Conduct online research for federal income tax brackets for the current year. Which tax bracket do you fit into for your gross household income? How close is your gross household income to the next lowest tax bracket? Create a list of possible deductions for your household. Are you able to reduce your taxable income enough to place you in the next lowest tax bracket? If not, what are some steps you could take to do so (this year or next year)?

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The audit planning process directly affects the quality of the outcome

The audit planning process directly affects the quality of the outcome. A proper plan ensures that resources are focused on the right areas and that potential problems are identified early. A successful audit first outlines the objectives of the audit, the procedures that will be followed, and the required resources.

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Choose an organization you are familiar with and develop an eight to ten (8-10) page IT infrastructure audit for compliance in which you:

Define the following items for an organization you are familiar with: Scope Goals and objectives Frequency of the audit Duration of the audit Identify the critical requirements of the audit for your chosen organization and explain why you consider them to be critical requirements. Choose privacy laws that apply to the organization, and suggest who is responsible for privacy within the organization. Develop a plan for assessing IT security for your chosen organization by conducting the following: Risk management Threat analysis Vulnerability analysis Risk assessment analysis Explain how to obtain information, documentation, and resources for the audit. Analyze how each of the seven (7) domains aligns within your chosen organization. Align the appropriate goals and objectives from the audit plan to each domain and provide a rationale for your alignment. Develop a plan that: Examines the existence of relevant and appropriate security policies and procedures. Verifies the existence of controls supporting the policies. Verifies the effective implementation and ongoing monitoring of the controls. Identify the critical security control points that must be verified throughout the IT infrastructure, and develop a plan that includes adequate controls to meet high-level defined control objectives within this organization. Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources. Your assignment must follow these formatting requirements:

Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are:

Describe the parameters required to conduct and report on IT infrastructure audit for organizational compliance. Describe the components and basic requirements for creating an audit plan to support business and system considerations Develop IT compliance audit plans Use technology and information resources to research issues in security strategy and policy formation. Write clearly and concisely about topics related to information technology audit and control using proper writing mechanics and technical style conventions

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Imagine that you have been hired by the startup e-Commerce company Sports R US to provide a convenient self-service solution for customers accessing sports products

Imagine that you have been hired by the startup e-Commerce company Sports R US to provide a convenient self-service solution for customers accessing sports products. The Web application would need to be available on mobile devices (e.g., smartphones, tablets, laptops, notebooks). The application also needs to work on multiple Web browsers (i.e.., Chrome, Internet Explorer, Firefox, Safari and others to support self-service tasks. Sports- R-US has asked you to provide a Human-Computer Interaction (HCI) guide for design and implementation of this service.

Note: You may create and / or make all necessary assumptions needed for the completion of this assignment.

This assignment must address the following topics:

Information Gathering Design Strategy Prototyping Implementation Write a six to eight (6-8) page paper in which you:

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1. Describe the following:

Purpose and goals of a mobile self-service. Target segment (audience). Audience needs and wants. Resources necessary to achieve the desired outcome. Design of the Website for mobile devices Interfaces applicable to mobile devices. 2. Design each of the following using Microsoft Visio or any open source wire framing or mockup tool. Note: The graphically depicted solution is not included in the required page length.

The Sports R US home page for a mobile device. The self-service Web page to review products and checkout using mobile devices. 3. Recommend one (1) prototype that could be created. 4. Determine the type of evaluation method to use in a Web design for the best user experience. 5. Provide key details of how the mobile self-service will be implemented on various mobile devices. 6. Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources. 7. Format your assignment according to the following formatting requirements:

Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page is not included in the required page length. Include a reference page. Citations and references must follow APA format. The reference page is not included in the required page length. The specific course learning outcomes associated with this assignment are:

Describe the differences in developing user interfaces for different application environments. Compare and contrast the different types of interactive environments. Use technology and information resources to research issues in human-computer interaction. Write clearly and concisely about human-computer interaction topics using proper writing mechanics and technical style conventions. Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using this rubric

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Prepare journal entries to record: (1) accrued payroll, including employee deductions, for July; (2) cash payment of the net payroll (salaries payable) for July; (3) accrued employer payroll taxes, and other related employment expenses, for July

The following monthly data are taken from Ramirez Company at July 31: sales salaries, $200,000; office salaries, $160,000; federal income taxes withheld, $90,000; state income taxes withheld, $20,000; Social Security taxes withheld, $22,320; Medicare taxes withheld, $5,220; medical insurance premiums, $7,000; life insurance premiums, $4,000; union dues deducted, $1,000; and salaries subject to unemployment taxes, $50,000. The employee pays 40% of medical and life insurance premiums.

Prepare journal entries to record: (1) accrued payroll, including employee deductions, for July; (2) cash payment of the net payroll (salaries payable) for July; (3) accrued employer payroll taxes, and other related employment expenses, for July—assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%; and (4) cash payment of all liabilities related to the July payroll.

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Your friend is celebrating her 35th birthday today and wants to start saving for her anticipated retirement at age 65

Your friend is celebrating her 35th birthday today and wants to start saving for her anticipated retirement at age 65. She wants to be able to withdraw $125,000 from her savings account on each birthday for 20 years following her retirement; the first withdrawal will be on her 66th birthday. Your friend intends to invest her money in the local credit union, which offers 7 percent interest per year. She wants to make equal annual payments on each birthday into the account established at the credit union for her retirement fund. (a) If she starts making these deposits on her 36th birthday and continues to make deposits until she is 65 (the last deposit will be on her 65th birthday), what amount must she deposit annually to be able to make the desired withdrawals at retirement? (b) Suppose your friend has just inherited a large sum of money. Rather than making equal annual payments, she has decided to make one lump sum payment on her 35th birthday to cover her retirement needs. What amount does she have to deposit? (c) Suppose your friend’s employer will contribute $3,500 to the account every year as part of the company’s profit-sharing plan. In addition, your friend expects a $175,000 distribution from a family trust fund on her 55th birthday, which she will also put into the retirement account. What amount must she deposit annually now to be able to make the desired

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Cost of Capital Explain how characteristics of MNCs can affect the cost of capital

Cost of Capital Explain how characteristics of MNCs can affect the cost of capital.

7. Target Capital Structure LaSalle Corp. is a U.S.-based MNC with subsidiaries in various less developed countries where stock markets are not well established. How can LaSalle still achieve its “global” target capital structure of 50 percent debt and 50 percent equity if it plans to use only debt financing for the subsidiaries in these countries?

14. Cost of Capital Blues, Inc., is an MNC located in the United States. Blues would like to estimate its cost of capital (WACC). On average, bonds issued by Blues yield 9 percent. Currently, Treasury security rates are 3 percent. Furthermore, Blues’ stock has a beta of 1.5, and the return on the Wilshire 5000 stock index is expected to be 10 percent. Blues’ target capital structure is 30 percent debt and 70 percent equity. If Blues is in the 35 percent tax bracket, what is its cost of capital?

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20. Financing in a High-Interest Rate Country Fairfield Corp., a U.S. firm, recently established a subsidiary in a less developed country that consistently experiences an annual inflation rate of 80 percent or more. The country does not have an established stock market, but loans by local banks are available with a 90 percent interest rate. Fairfield has decided to use a strategy in which the subsidiary is financed entirely with funds from the parent. It believes that in this way it can avoid the excessive interest rate in the host country. What is a key disadvantage of using this strategy that may cause Fairfield to be no better off than if it paid the 90 percent interest rate?

Chapter 18

4. Bond Offering Decision Columbia Corp. is a U.S. company with no foreign currency cash flows. It plans to issue either a bond denominated in euros with a fixed interest rate or a bond denominated in U.S. dollars with a floating interest rate. It estimates its periodic dollar cash flows for each bond. Which bond do you think would have greater uncertainty surrounding these future dollar cash flows? Explain.

11. Cost of Financing Assume that Seminole, Inc., considers issuing a Singapore dollar-denominated bond at its present coupon rate of 7 percent, even though it has no incoming cash flows to cover the bond payments. It is attracted to the low financing rate because U.S. dollar-denominated bonds issued in the United States would have a coupon rate of 12 percent. Assume that either type of bond would have a 4-year maturity and could be issued at par value. Seminole needs to borrow $10 million. Therefore, it will issue either U.S. dollar-denominated bonds with a par value of $10 million or bonds denominated in Singapore dollars with a par value of S$20 million. The spot rate of the Singapore dollar is $.50. Seminole has forecasted the Singapore dollar’s value at the end of each of the next 4 years, when coupon payments are to be paid. Determine the expected annual cost of financing with Singapore dollars. Should Seminole, Inc., issue bonds denominated in U.S. dollars or Singapore dollars? Explain. END OF YEAR EXCHANGE RATE OF SINGAPORE DOLLAR 1 $.52 2 .56 3 .58 4 .53

17. Financing and Exchange Rate Risk Vix Co. (a U.S firm) presently serves as a distributor of products by purchasing them from other U.S. firms and selling them in Europe. It wants to purchase a manufacturer in Thailand that could produce similar products at a low cost (due to low labor costs in Thailand) and export the products to Europe. The operating expenses would be denominated in Thai currency (the baht). The products would be invoiced in euros. If Vix Co. can acquire a manufacturer, it will discontinue its existing distributor business. If Vix Co. purchases a company in Thailand, it expects that its revenue might not be sufficient to cover its operating expenses during the first 8 years. It will need to borrow funds for an 8-year term to ensure that it has enough funds to pay all of its operating expenses in Thailand. It can borrow funds denominated in U.S. dollars, in Thai baht, or in euros. Assuming that its financing decision will be primarily intended to minimize its exposure to exchange rate risk, which currency should it borrow? Briefly explain.

20. Project Financing Dryden Co. is a U.S. firm that plans a foreign project in which it needs $8,000,000 as an initial investment. The project is expected to generate cash flows of 10 million euros in 1 year after the complete repayment of the loan (including the loan interest and principal). The project has zero salvage value and is terminated at the end of 1 year. Dryden considers financing this project with: • all U.S. equity, • all U.S. debt (loans) denominated in dollars provided by U.S. banks, • all debt (loans) denominated in euros provided by European banks, or • half of funds obtained from loans denominated in euros and half obtained from loans denominated in dollars. Which form of financing will cause the project’s NPV to be the least sensitive to exchange rate risk?

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Discussion

“Multinational Capital Structure and Optimal Capital Structure” Please respond to the following:

From the case study and your knowledge of both the cost of capital and capital structure for MNCs, predict the likely outcome of a Blades expansion into Thailand. Determine whether Blades’ cost of capital will be higher or lower than it would be for a manufacturer operating solely in the U.S. Provide a rationale for your response.

From the case study and the readings, predict the major effects of an expansion of Blades into Thailand on the required rate of return for the company. Suggest whether or not Blades should use the new required rate of return, which entails using the capital asset pricing model (CAPM) when discounting the cash flows from the Thai subsidiary to determine the net present value (NPV) of a project there. Provide a rationale for your response

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