Ex. 169Ogleby Boat Company’s bank statement for the month of September showed a balance per bank of $7,000. The company’s Cash account in the general ledger had a balance of $5,459 at September 30. Other information is as follows:(1) Cash receipts for September 30 recorded on the company’s books were $5,700 but this amount does not appear on the bank statement.(2) The bank statement shows a debit memorandum for $40 for check printing charges.(3) Check No. 119 payable to Lann Company was recorded in the cash payments journal and cleared the bank for $248. A review of the accounts payable subsidiary ledger shows a $36 credit balance in the account of Lann Company and that the payment to them should have been for $284.(4) The total amount of checks still outstanding at September 30 amounted to $6,000.(5) Check No. 138 was correctly written and paid by the bank for $409. The cash payment journal reflects an entry for Check No. 138 as a debit to Accounts Payable and a credit to Cash in Bank for $490.(6) The bank returned an NSF check from a customer for $360.(7) The bank included a credit memorandum for $1,560 which represents collection of a customer’s note by the bank for the company; principal amount of the note was $1,500 and interest was $60. Interest has not been accrued.Instructions(a) Prepare a bank reconciliation for Ogleby Boat Company at September 30.(b) Prepare any adjusting entries necessary as a result of the bank reconciliation.

 

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Read the book “The world of Epictetus” by James Stockdale and compare it to “Substitutes for leadership: Test of a Concept”, by Jon P. Howell . Explain in depth. 

 

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Practical measures that will keep the organization on track.Corporate culture. Every organization adheres to certain cultural values. Sometimes they are obvious, sometimes not. Some values are good and some are not. Can you identify and comment on organizational values you have seen. How do you know the organization really believes in these values? Have any values changed? Can you be sure the entire organization has moved in the new direction?

 

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A bicycle manufacturer currently produces 351,000 units a year and expects output levels to remain steady in the future. It buys chains from an outside supplier at a price of $2.10 a chain. The plant manager believes that it would be cheaper to make these chains rather than buy them. Direct in-house production costs are estimated to be only $1.40 per chain. The necessary machinery would cost $268,000 and would be obsolete after ten years. This investment could be depreciated to zero for tax purposes using a ten-year straight-line depreciation schedule. The plant manager estimates that the operation would require $24,000 of inventory and other working capital upfront (year 0), but argues that this sum can be ignored since it is recoverable at the end of the ten years. Expected proceeds from scrapping the machinery after ten years are $20,100. 

If the company pays tax at a rate of 35% and the opportunity cost of capital is 15%, what is the net present value of the decision to produce the chains in-house instead of purchasing them from the supplier?

-Project the annual free cash flows (FCF) of buying the chains.

The annual free cash flows for years 1 to 10 of buying the chains is $_____ (Round to the nearest dollar. Enter a free cash outflow as a negative number.)

-Compute the NPV of buying the chains from the FCF.

The NPV of buying the chains from the FCF is $ _____(Round to the nearest dollar. Enter a negative NPV as a negative number.)

-Compute the initial FCF of producing the chains.

The initial FCF of producing the chains is $_____. (Round to the nearest dollar. Enter a free cash outflow as a negative number.)

-Compute the FCF in years 1 through 9 of producing the chains.

The FCF in years 1 through 9 of producing the chains is $_____(Round to the nearest dollar. Enter a free cash outflow as a negative number.)

-Compute the FCF in year 10 of producing the chains.

The FCF in year 10 of producing the chains is $____(Round to the nearest dollar. Enter a free cash outflow as a negative number.)

-Compute the NPV of producing the chains from the FCF.

The NPV of producing the chains from the FCF is $_____(Round to the nearest dollar. Enter a negative NPV as a negative number.)

-Compute the difference between the net present values found above.

The net present value of producing the chains in house instead of purchasing them from the supplier is $_____. (Round to the nearest dollar.)

 

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