حلول واجبات الجامعة العربية المفتوحة ( TECHNOLOGY SHARING CENTER )
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حلول واجبات الجامعة العربية المفتوحة ( TECHNOLOGY SHARING CENTER )

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 حل واجب B203b SUMMER2017

استعرض الموضوع السابق استعرض الموضوع التالي اذهب الى الأسفل 
كاتب الموضوعرسالة
aou.tma2016



عدد المساهمات : 62
نقاط : 148
تاريخ التسجيل : 15/11/2016

بطاقة الشخصية
حلول واجبات الجامعة العربية المفتوحة:

مُساهمةموضوع: حل واجب B203b SUMMER2017   السبت يوليو 22, 2017 1:02 am

حل واجبات جميع مواد الجامعة العربية المفتوحة لجميع الاقسام و التخصصات
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At the beginning of 2017, Jason went into retirement after serving 40 years at one of the local companies in his home town. He received a remuneration of $77,500 upon his retirement with which he is hoping to achieve his long time ambition, to invest into his own private business. He is in front of three different options:
• Option 1: to start a new company (TOYEE) that manufactures toy models. Jason has carried out some research that shows there to be a market for these toy models. This will require investment in a machine that would cost $40,000, payable immediately. Sales have been estimated for the next five years. At the end of that time, Jason had estimated that the machine could be sold for $8,500.
Inflows and outflows from sales of the toy models would be expected to be:
Time Estimated cash flows
Year 0 -40,000
Year 1 Operating Profit Before Depreciation 8,500
Year 2 Operating Profit Before Depreciation 11,700
Year 3 Operating Profit Before Depreciation 15,950
Year 4 Operating Profit Before Depreciation 16,400
Year 5 Operating Profit Before Depreciation 15,200
year 5 (Salvage Value) 8,500

• Option 2: to buy 100% of the shares of an established business Revell Inc. This is well-known brand name today used by two distinct manufacturers of scale plastic models. The total value of Revell Inc. is $37,500
• Option 3: to buy 100% of the shares of an established business Tamiyah Inc. This is a manufacturer of plastic model kits, radio controlled cars, battery and solar powered educational models. The total value of Tamiyah Inc. is $37,500.
Based on the financial information collected for Revell Inc. and Tamiyah Inc., Jason with help of a financial Advisor came up with the following forecasts for the next5 years. The rate of return is estimated at 5%.
Requirements:
1. Jason has decided to start TOYEE irrespective of the other investments but still needs to analyze the viability of buying the machine. Therefore, to advise Jason on this matter, you are required to calculate the Accounting Rate of Return (ARR),thePayback, NPV and IRR to provide the financial assistance for Jason. Advise whether or not Jason should start this business.

2. To make his choice between Tamiyah and Revell, Jason needs to make a capital investment decision. Therefore he will need to analyze the two options. He needs your expertise for this task. You are required to do the following:
a. Prepare a 5 year projected statement of cash flow using the indirect method for Revell Inc.
b. Using the projected cash flows from part (a), calculate the Payback period,Net Present Value and Internal Rate of Return (IRR) for Tamiyah Inc. and Revell Inc. Since these projects are mutually exclusive, based on your analysis, you need to recommend the best option for Jason.
3. Research indicates that the IRR method is extremely popular even though it has shortcomings when compared to the NPV method. Why might managers prefer to use IRR rather than NPV when carrying out discounted cash flow evaluations? Use references from the E-library to answer this question.
(Note: you can use excel to only calculate IRR and you must show all steps of your answers).
Profit and Loss Statement for Revell Inc.
Actual Forecasts
Item 2017 2018 2019 2020 2021 2022
Sales 28,857 31,944 33,541 35,218 36,979 38,282
Cost of Sales -10,406 -11,374 -11,943 -12,540 -13,167 -13,825
Gross Profit 18,451 20,570 21,598 22,678 23,812 24,457
Administrative and Selling Expenses -10,002 -11,651 -11,248 -11,737 12,250 12,788
Depreciation -943 -123 -1,115 -1,244 -1,380 -1,523
Other Operating Expenses -254 -350 -368 -386 -405 -425
Operating Profit 7,252 8,446 8,867 9,311 34,277 35,297
Interest Income 236 333 263 264 264 264
Interest Expense -456 -483 -425 -442 -462 -482
Other Income (Loss) 668 -874 469 497 527 559
Profit Before Taxation 7,700 7,422 9,174 9,630 34,606 35,638
Taxes on Income -1,892 -1,632 -2,124 -2,230 -2,340 -2,456
Profit for the Year 5,808 5,790 7,050 7,400 32,266 33,182

Statement of Financial Position of Revell Inc.
Actual Forecasts
Item 2017 2018 2019 2020 2021 2022
Assets
Current Assets
Cash and Cash Equivalents 4,308 4,979 4,987 4,996 5,005 5,014
Accounts Receivable 3,317 3,090 3,701 3,430 4,067 3,805
Inventory 2,220 2,187 2,320 2,412 2,556 2,661
Prepaid Expenses 2,260 1,920 2,016 2,117 2,223 2,334
Total Current Assets 12,105 12,176 13,024 12,955 13,851 13,814
Non-Current Assets
Property, Plant and Equipment, net 8,493 8,326 9,002 9,638 10,232 10,782
Long-term Investments 7,777 5,779 6,126 6,493 6,883 7,296
Other Non-Current Assets 14,894 14,238 14,794 15,378 15,989 16,630
Total Assets 43,269 40,519 42,946 44,464 46,955 48,522
Liabilitites
Current Liabilities
Trades Payable 1,380 1,370 1,277 1,492 1,425 1,628
Accrued Liabilities 5,535 4,835 5,077 5,331 5,597 5,877
Notes Payable 5,919 6,066 6,443 6,670 7,043 7,278
Income Tax Payable 258 252 172 178 188 194
Other Current Liabilities 133 465 305 322 333 351
Total Current Liabilities 13,225 12,988 13,274 13,993 14,586 15,328
Long-term Debt 3,277 2,781 2,948 3,052 3,223 3,330
Other non-current liabilities 5,023 4,278 4,501 4,712 4,953 5,184
Total Liabilities 21,525 20,047 20,723 21,757 22,762 23,842
Shareholder's Equity
Share Capital and common stock 8,258 8,846 9,378 9,707 10,251 10,593
Profit 13,486 11,626 12,855 13,000 13,941 14,086
Total Liabilities and Owner's Equity 43,269 40,519 42,956 44,464 46,954 48,521


Statement of Cash flow for Tamiyah Inc.
Item 2018 2019 2020 2021 2022
Projected Cash Flow from operating Activities 18,560 21,260 26,850 21,450 17,430



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حل واجب B203b SUMMER2017
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