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2.  Assess the advantages to a consumer to borrow from a finance company versus a commercial bank or thrift. Consider your own situation to decide when you might borrow from a finance company.

3.  Assess how index mutual funds can mitigate various risks for investors. Include a discussion how the capital asset pricing model affects index fund risk.

First e-Activity = Go to the SEC Website to read the article “Hedging Your Bets: A Heads Up on Hedge Funds and Funds of Hedge Funds,” located at http://www.sec.gov/answers/hedge.htm.

4.  From the first e-Activity, determine if more oversight or regulation is needed regarding hedge funds. Support your response with examples or evidence.

5.  Assess the volatility risk with an investment in a derivative, using an interest rate cap or floor in today’s marketplace. Indicate whether or not you would advise financial institutions to engage in this type of investment. Provide support for your response.

6.  Assess the effectiveness of using the Black-Scholes model to value cap and floor type investments, indicating how any pitfalls with this method of valuation can be minimized. Provide support for your response.

7.  Assess the ability of the credit-derivatives market to provide warning signals well in advance of future downgrades in credit rating or headlines of company problems holds true today.  Provide an example of when the statement held true in today’s financial markets.

8.  Consider the ideal role of the government, if any, in bringing about more transparency in the market for credit protection. Provide an example of when government involvement would have helped protect investors from risks related to credit.

Question 3: Sheffer

The Sheffer Company’s statement of cash flows for 2012 showed the following calculation of

the cash flow from operating activities:

Collections from customers $ 2,245

Payments to suppliers (1,375)

Payments to employees ( 688)

Payments to the IRS (for income tax) ( 72)

Cash flow from operating activities $ 110

The company’s balance sheet at the beginning and end of 2012 showed the following:

Beginning End

of year of year

Accounts payable $ 92 $ 103

Accounts receivable 218 262

Accumulated depreciation 93 122

Income tax payable 142 180

Merchandise inventory 141 189

Plant and equipment (at cost) 338 371

Wages payable 36 37

A note to the financial statements showed that the company bought plant and equipment during

the year for $33.

Required:

a. Prepare an income statement for the Sheffer Company for 2012.

b. Did the Sheffer Company use the direct or the indirect method in preparing its statement of

cash flows?

c. Recently, the FASB has decided to eliminate goodwill amortization. Suppose certain

goodwill was recognized in 2012, and consider the financial statements for a subsequent

year, say 2017, under the assumption there is no impairment. Will the proposed change

result in an increase or a decrease to the Retained Earnings account? Explain.

McGraw Hill Connect, Chapter 8 Accounting assignment includes:

CHAPTER 8 HOMEWORK and CHAPTER 8 QUIZ completed online through McGraw Hill Connect site with my credentials DUE NO LATER THAN Sunday, 04-14-2013

AS WELL AS:

Upload DOCUMENTS of Chapter 8 TEST submitted to me through homework market DUE NO LATER THAN Sunday 04-14-2013 —- SEE BELOW:

For $40.00 total, due no later than 04-14-2013

Down payment of $15

Chapter 8 TEST document:

PROBLEM #1 – 22 points

Greenview Food Store developed the following information in recording its bank statement for the month of March 20XX.

                                    Balance per books on March 31   $     829

                                    Balance per bank on March 31     $  7,030

1)    Checks written in March but still outstanding, $5,200.

2)    Checks written in February but still outstanding, $1,200.

3)    Deposits of March 30 and 31 not yet recorded by bank, $3,100.

4)    NSF check of customer returned by bank, $400.

5)    Check #210 for $675 was correctly issued and paid by the bank but incorrectly entered in the cash payments  journal as payment on account for $657, for payment to a creditor.

6)    Bank service charge for March was $31.

7)    A payment on account was incorrectly entered into the cash payments journal and posted to the accounts payable subsidiary ledger for $854 when check #318 was correctly prepared for $584. The check cleared the bank in March.

8)    The bank collected a note receivable for the company for $3,000 plus $80 interest.

Instructions:

a)    Prepare a bank reconciliation for the Greenview Food Store for the month of March 31, 20XX.

b)    Journalize the adjusting entries for Greenview Food Store on March 31, 20XX.

Bank Reconciliation:

Journal Entries:                                                                                                                             

PROBLEM  #2 – 18 points

Jenrob Company completed the following selected transactions during January 20XX.

      January 1            Established a petty cash fund of $500

                   15 The cash sales for the day per the register tape were $3,018.

                                    The actual cash received from cash sales were $3,011.

                   31 Petty cash on hand was $123. Replenished the petty cash fund for the following

                                    disbursements:

                                    Jan  2 Office supplies, $45

                                          10 Postage due on letter, $29 (Miscellaneous Expense)

                                          14 Office supplies, $56.

                                          17 Postage stamps, $42 (Office Supplies).

                                          20 Express charges on merchandise sold, $136 (Delivery Expense).

                                          22 Repair to desk, $63 (Miscellaneous Expense).

                                          30 Office supplies, $12.

                    31            The cash sales for the day per the register tape were $2,812.

                                    The actual cash received from cash sales were $2,822.

                    31            Decreased the petty cash fund by $100.

What is the balance in the cash short/over account (DR or CR & $ amount)? Is it a revenue or an expense?

            Balance in Cash Short/Over? ______________________________

            Revenue or Expense? ____________________________________