The following is an excerpt from a business plan: "To open our newupscale toy store, We R Toys, we require a total of $225,000. The ownerswill be providing $100,000 of this amount from their own savings, andtheir friends and families have promised an additional $25,000. Therefore,We R Toys requires a bank loan of $100,000."In which section of We R Toys' business plan would this information befound?O Executive SummaryO Sales StrategiesMarket AnalysisO Financial ProjectionsO Funding Requirements

A business plan can be explained to as the document which contains the details regarding the core…

Answered: The following is an excerpt from a…

Foundations of Business - Standalone book (MindTap Course List)

4th Edition

ISBN:9781285193946

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter15: Using Management And Accounting Information

Section: Chapter Questions

Problem 5DQ

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With the success of your business, you are ready to establish a storefront. However, you do not have the necessary funds to acquire the building and pay the necessary rent. You are considering borrowing a short-term note from a bank for $130,000. Required part B. Research the lending practices of a local bank. Determine the interest rate charged for a $130,000 loan. What collateral does the bank require to secure the loan? Determine your overall payback amount if you were to repay the loan in less than one year. Choose either a payback with periodic payments or all at the end of the loan term and compare the outcomes. After conducting your research, would you consider borrowing the money? What positive and negative outcomes accompany borrowing the money? Instead of borrowing on a short-term note, you are thinking on borrowing $130,000 and signed a 5-year, note payable with a 12% interest rate. Each annual payment is in the amount of $34,920 and payment is due each Dec. 31. What is…
Mr. Appoh has operated a satisfactory account with your branch for a period of 6 years. He is a 40-year old mechanical engineer who runs a professional office engaged in considering and contacting work for the TDC, Tema, as well as for the private sector. Today Mr. Appoh calls to discuss with you his housing mortgage loan matter under your bank's mortgage loan scheme for private house ownership. For the discussion, he had produced a contractor’s estimate of the cost of a private house he plans to build. The cost of the house was estimated at GHȼ30million. He says he has been allocated a plot of land at Tema and he has been given all the necessary documents. He is applying for a mortgage loan of GHȼ20million repayable within a period of 10 years. He has in his house ownership savings account a total of GHȼ16million, more than the minimum savings required of beneficiaries under the scheme. You are prepared to help him. Your bank takes a legal mortgage of the property concerned. Required:…
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The cash collection cycle is the number of days it takes to collect accounts receivable. The measure is important for tracking the ability of a business to grant a reasonable amount of credit to worthy customers and collect receivables on time. ELABORATE the advantages and disadvantages of the collection agency for an organization.
One of your customers is delinquent on hisaccounts payable balance. You’ve mutually agreed to a repayment schedule of $700per month. You will charge 1.3 percent per month interest on the overdue balance. Ifthe current balance is $21,500, how long will it take for the account to be paid off ?
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list and describe 2 types of deposit accounts?
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Read the case below and answer questions a, b, & c.Kofi Appau, managing director of Industrial Cleaning Services, had decided that a personal computer could help solve his cash flow problems. What he wanted was a machine which would store his receipts and outgoings so that at a touch of a button he could see the cash flow at any point in time. A year ago, he got into serious cash flow difficulties simply because he did not realise that, for various reasons, his short-term outflow greatly exceeded his receipts. He decided to visit a newly opened personal computer outlet in town on Saturday afternoon. His wife, Mary, was with him. They approached a salesperson seated behind a desk. Kofi: Good afternoon. I’m interested in buying a personal computer for my business. Can you help me? Salesperson: Yes, indeed, sir. This is the fastest growing network of personal computer centres in the country. I have to see a colleague for a moment but I shall be back in a few minutes. Would you like to…
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