Managerial Accounting Word Problems, accounting homework help

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There are two word problems I need help with

1) Problem 1: The sad story of Ebony Pall

Ebony Pall married at a very young age to Stock N. Bond, a man of age 20 years her senior. They lived lavishly for the next 10 years, when a sudden and unexpected shark attack ended Mr. Bond’s life. Fortunately, Stock expected he would not be around to take care of Ebony in her elder years, so he purchased $2 million in bonds and stocks to financially help her through her elder years.

Ebony remarried shortly after Mr. Bond passed away. Her new husband, Shade E. Sneek, was most interested in Ebony’s investment portfolio. He quickly noticed the following interesting bonds in her portfolio.

Ebony held $500,000 in bonds with a 6% interest rate. Of these bonds, $250,000 of them had a call provision of March 31, 2011. Mr. Sneek told Ebony that the bonds no longer would pay interest since the call date had passed and that he would do her a favor and redeem them if she endorsed the bonds over to him. Ebony was feeling poorly that day and considered his offer to be a good faith offer. She quietly thanked her astrologer for sending Mr. Sneek to her.

Recently, Ebony received a letter from Herefords Are Us, a cattle futures company in which she holds 10,000 shares of stock at $55 per share. The letter informed her that there will be a stock split on April 30, 2011 of 2 for 1. She is elated, since she and Mr. Sneek are planning an expensive 30 day ocean cruise to Iceland on August 15 and they need the money. Upon strong encouragement from Mr. Sneek, she plans on selling 200 shares of this stock to pay for the cruise, which costs $10,000. She will sell the shares on May 12, 2011. After Ebony endorsed the stock certificates over to her husband, he stated he would take care of the sales by calling his broker, Ima Krook, who will fix everything up neat and tidy.

After Mr. Sneek leaves for the broker’s office, Ebony begins to wonder whether she did the right thing. She calls you, a soon to be graduate, to look things over for her.

Required:

Help Ebony make the proper decisions in the above two dilemma’s facing her. Be specific and support all recommendations with proper financial analysis and calculations.

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2) Problem 3: Happy Times, Limited

The Happy Times, Limited, company of Arizona has budgeted sales of its most popular alphabet game for children ages 4 thru 8 years. The budget is for the next four months, beginning in April.

Sales in Units

April

50,000

May

75,000

June

90,000

July

80,000

The company now is in the process of preparing a production budget for the second quarter. Experience has shown the company that the end-of-month inventory levels should equal 10% of the following month’s sales. The inventory at the end of March was 5,000 units.

You are to prepare a production budget for the second quarter. In your budget show the number of units to be produced each month and for the quarter in total.

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