seen from China
seen from China
seen from Malaysia
seen from China
seen from United States
seen from United Kingdom
seen from Russia
seen from China
seen from Malaysia
seen from Malaysia
seen from Singapore
seen from South Korea
seen from United States
seen from China
seen from Malaysia
seen from China
seen from Malaysia
seen from China
seen from Australia
seen from China
Doing COURSEHERO and CHEGG unlocks
I'll help you with COURSE HERO and CHEGG unlocks.
You can send the Course Hero documents or tutor problem links to my chat or message me.
I'll Post your Questions on Chegg as well.
Feel free to message me. Thank you
Coursehero unlock
If anyone needs a Coursehero document unlocked, there is a guy with a paying account who does unlocks. Just email him the link of the document you need, you can pay him $3 thru the cash app with your email in the payment note, and after some time, you will receive your document. I went through the process and eventually did receive the document I requested. Found him on youtube and he is legit. I left him a good review for helping me and I didn't have spend a lot on coursehero. Email [email protected] with your Coursehero document link and he will send you instructions to get the document you need. He was so helpful.
fuck paywalls btw
Course (Number and Section).
Instructor’s Name.
Date of Submission.
Name & Student ID.
Date: June 18 2023
To: Senior Accounting Manager, Department of Commercial Transportation Financing.
From:
Subject: Request of a loan from Simon Carries Ltd. –
Recommendation.
Recommendation:
After receiving of a loan request of $270, 000 from Simon Carriers Ltd, I commend approval of the stated amount based on a detailed review of the loan application. This amount is intended to be used in purchase of two new 2016 Freightliner transport trucks, four new mobile satellites systems and four new 53-foot trailers. The in-depth review of the loan application meets all requirements set in place by Midi Capital. It also offers SCL a chance to meet its profit expectations by growing its fleet size and landing new contracts.
Justification:
1. The SCL Company has been both operational and profitable since it was started in 1985. This trucking company has been able to navigate various economical upsets and sustained their position in the market. SCL has been able to expand its operations successfully by increasing its fleet size. Increasing its fleet size resulted to increased profits and good servicing of their previous loans.
2. Loan conditions: SCL trucking company meets all the sets requirement to be legible for a loan from Commercial Transportation Financing (CTF). Some of the requirements that SCL meets are; the company has been functional for more than three years, its debt to ratio income is healthy, generates adequate income to cover interest payment of their loans. The company assets are also adequate enough to act collateral.
3. Projected growth: From its previous records as projected in the balance sheets, SCL has more chances of growth and their profits increase more when they acquire new trucking contract. This increase is approximated to be at 60% as new tracking will enable SCL to meet the increased demand and hence increase profitability.
4. Ability to repay: SCL projected income statements and balance sheets detail that SCL will have extra profits that will put them in a position to settle the loans and their respective interests. SCL long-term existence enables them to have the required experience to navigate harsh economic conditions and meet their financial obligations.
Action plan Implementation:
1. Loan approval and Disbursement: The loan should be reviewed and processed immediately to allow SCL acquire the new fleet as soon as possible so that operations can continue.
2. Monitor and report SCL financial position: Regular review of SCL financial books, debt servicing and adherence to loans. Reports should be made on the same reviewed issues.
3. Support with Contract Bidding: Commercial Transportation Financing can use its industry experience to help boost SCL chances of winning the contract and advise SCL on how to successfully implement it.
4. Current relationship management: Keeping a positive relationship with SCL and ensuring constant communication to help in responding and solving any challenges that maybe experienced during the loan period. This will boost the efficiency of SCL in attaining its goals hence ensuring the loan is repaid
5. Monitoring of Finances and Cash Flow Management: It will be a necessity for Commercial Transportation Financing (CTF) to regularly monitor the financial situation of SCL by constantly reviewing its financial statements, ratios and cash flows to ensure they remain financially stable to repay the loan.
Contingency Plan:
An alternative is an essential tool incase SCL is unable to acquire the new fleet they intended to or runs into unexpected financial constraints. Proactive communication with SCL will ensure that there is a possibility of renegotiating the loan terms, and even pointing out potential cost reducing measures to lessen the impact of unforeseen circumstances on both parties.
The attached exhibits provide an in-depth analysis of Simon Carriers financial position and aid in the evaluation and understanding of the fleet company ability to settle loans.
The approval of Simon Carries loan request in my opinion is in line with Midi Capital objective of generating profits while navigating through acceptable levels of risks. Review of SCL financial track record on issues like loan repayments and profit making and their potential for growth provides confidence that SCL will effectively use the loan to expand their operation and increase their returns significantly.
References.
Exhibit 1
Statements of Earnings (Unaudited) and Ratios
For the years ending December 31
2015 %Sales 2014 %Sales 2013 %Sales
Revenue $835,295 100.0% $645,118 100.0% $202,232 100.0%
Cost of Sales 518,805 62.1% 407,432 63.2% 147,309 72.8%
Gross Margin $316,490 37.9% $237,686 36.8% $54,993 27.2%
Operating Expenses
Salaries & Wages $120,259 14.4% $116,757 18.1% $ 26,362 13.0%
General & Admin 8,512 2.2% 15,556 2.4% 2,058 1.0%
Telephone & Fax 8,924 1.1% 6,858 1.1% 1,091 0.5%
Legal & Accounting 1,491 0.2% 1,500 0.2% 800 0.4%
Travel & Auto 9,430 1.1% 6,734 1.0% ---- 0.0%
Rent & Utilities 10,075 1.2% 8,142 1.3% 7,140 3.5%
Bank Charges & Int 18,505 2.2% 17,127 2.7% 3,227 1.6%
Bad Debts 1,302 0.2% 2,841 0.4% ---- 0.0%
Deprecation Expense 42,795 5.1% 48,565 7.5% 14,348 7.1%
Advert & Promotion 1,235 0.1% 1,330 0.2% ---- 0.0%
Meals & entertainment 1,042 0.1% 867 0.1% ---- 0.0%
Total Operating Exp. $233,570 27.9% $226,277 35.0% $ 55,026 27.1%
======= ===== ======= ===== ====== =====
Net Earnings Pre-tax 82,920 28.0% 11,409 35.1% (33) 27.2%
Provision for Taxes 34,246 9.9% 3,084 1.8% ----- 0.0%
Net earnings after Tax 48,674 5.8% 8,325 1.3% (33) 0.0%
Statements of Retained Earnings (Unaudited)
For the Years Ending December 31
2015 2014 2013
Beginning retained earnings $ 8,171 $ (154) $ (121)
Add: Net earnings after Taxes 48,674 8,325 (33)
Ending Retained earnings $56,845 $8,171 $ (154)
====== ===== =====
Source: Midi Capital Transportation Financial Division
Exhibit 2
Balance Sheet (Unaudited)
As of December 31
201520142013
ASSETS
Current Assets
Cash $ 4,230 $ 2.605 $ 8,107
Accounts receivable 42,004 28,230 21,912
Other receivables 429 478 482
Prepaid expenses 15,065 12,820 16,237
Total Current Assets $ 61,728 $44,133 $46,738
Fixed Assets
Trucks & trailers (cost) 463,800 426,500 95,000
Fixtures (cost) 5,480 5,480 5,480
Company vehicle (cost) 21,500 21,500 21,500
Computer (cost) 3,200 3,200-----
Less Accumulated depreciation 186,556 143,761 95,196
Total fixed assets (net) $307,424 $312,919 $26,784
TOTAL ASSETS $369,152 $357,052 $72,522
====== ======= =====
LIABILITIES
Current liabilities
Accounts payable $ 27,307 $ 15,881 $ 13,676
Bank line of credit (50,00) --------- ------- ----------
---------- --------- -----------
Total current liabilities $ 27,307 $ 15,881 $ 13,676
Long term liabilities
Loan Nippissing Credit 189,000 273,000 -------
Loan Midi Capital 36,000 ----- -------
Total long term liabilities $225,000 $273,000 $ -------
TOTAL LIABILITIES$252,307 $288,881 $ 13,676
OWNERS EQUITY
Share Capital$ 60,000 $ 60,000 $ 60,000
Retained Earnings 56,845 8,171 (154)
Total Owners equity $116,845 $ 68,171 $ 59,846
TOTAL LIABILITIES
AND OWNERS EQUITY $369,845 $357,052 $ 73,522
======= ======= ======
Source: Midi Capital Transportation Financial Division
Exhibit 3
Financial Ratios
For the years ending December 31
Industry Average 201520142013
PROFITABILITY
Return on average equity30.2% 52.6%13.0%0.0%
STABILITY
Debt/equity 1.56:1 2.2:14.2:1 .23:1
Interest coverage N/A 5.5x1.7x1.0x
LIQUIDITY
Current Ratio1.1:1 2.3:12.8:13.4:1
Acid test ratio .9:1 1.7:11.9:12.2:1
Working capital N/A $ 34,421 $ 28.252 $ 33,062
EFFICIENCY
Age of receivables 42.6 days18 days 16 days 40 days
Age of payables N/A19 days 14 days 34 days
GROWTH
2014-20152013-2014
Sales growth 29.5% 219.0%
Profit growth 484.7% 253.3%
Asset growth 3.4% 385.6%
Equity growth 71.4% 13.9%
Exhibit 4
Statement of Sources and Uses of Cash
For the two year period ending December 31, 2015
Short TermLong Term
Sources of cash
Other receivables $ 53
Prepaid expenses 1,172
Accounts payable 13,631
Loan (Nippissing)189,000
Loan (Midi Capital) 36,000
Retained earnings 56,999
-------------------
TOTAL SOURCES $ 14,856+ $281,999 = $296,855
Uses of Cash
Accounts receivable$20,092
Fixed assets280,640
---------------------
TOTAL USES$20,092 + $280,640 = $300,732
Net cash increase/(decrease)$ ( 3,877)
Cash December 31, 2013 8,107
Cash December 31, 2015$ 4,230
======
The Executive Summary And The Key Points Are:
Midi capital played a key role in almost every business it participated in. They constantly generated record returns on their investments. 2016 is the most relevant example when they earned a record US$3.6 billion in the year 2015. CTF was under a lot of financial constraint to turn their investments into profits. This led to majority of fleet companies to compete to work in southern Ontario’s competitive trucking business increasing usage of roads as a means of transport according to research done in 2015.
The large amount of capitals required to acquire new machines forced fleet companies to go for loans so that they can acquire the new trucks to expand operations. Simon and Carriers just like other owners created SCL Ltd in the late 1980s.
This company initially owned a single truck garage hauling freight for a larger truck company that gave work to individual trucker like Simon Carriers Ltd. SCL signed a deal with smaller auto Parts Company in the year 2004. With an objective to increase its operation, SCL had to increase its fleet size. Since they did not have the financial muscle to acquire new trucks yet they wanted to expand operations so as to increase profits, SCL requested for a loan from CTF.
Simon put $50,000 in personal assets up to act as collateral so as to acquire the loan. Midi capital provided SCL with a $306,000 loan. They were given this amount due to their previous good loan records and attractive financial position of their fleet company as demonstrated in the financial ratios below.
Exhibit 3
Financial Ratios
For the years ending December 31
Industry Average 201520142013
PROFITABILITY
Return on average equity30.2% 52.6%13.0%0.0%
STABILITY
Debt/equity 1.56:1 2.2:14.2:1 .23:1
Interest coverage N/A 5.5x1.7x1.0x
LIQUIDITY
Current Ratio1.1:1 2.3:12.8:13.4:1
Acid test ratio .9:1 1.7:11.9:12.2:1
Working capital N/A $ 34,421 $ 28.252 $ 33,062
EFFICIENCY
Age of receivables 42.6 days18 days 16 days 40 days
Age of payables N/A19 days 14 days 34 days
GROWTH
2014-20152013-2014
Sales growth 29.5% 219.0%
Profit growth 484.7% 253.3%
Asset growth 3.4% 385.6%
Equity growth 71.4% 13.9%
Chegg Unlocks CourseHero log in Account
https://www.reddit.com/r/CourseHeroUnlocked/
Earn with me as an online tutor on Course Hero!
Apply as a tutor, get approved & get your bonus! 🤩
Use my referral code: pBNOe
Click the link below to apply
https://bit.ly/3rMXpvS
Here are 10 Textsheet alternatives in 2021. You can use these sites like Textsheet to find the answers for various questions, homework, assignments, projects, etc.
Here are 10 Textsheet alternatives. You can use these sites like Textsheet to find the answers for various questions, homework, assignments, projects, etc.
Me: *removing the cover page from my papers before I upload to coursehero so you can see more in preview*
