29 B C F F S 40 Essay

Submitted By Jamarr5242

Words: 301

Pages: 2

Open Document

Tobin’s Q what is Tobin’s Q for Smolira Golf? What assumptions are you making about the book value of debt and the market value of debt? What about the book value of assets and the market value of assets? Are these assumptions realistic? Why or why not?

SOLUTION

First, we will find the market value of the company’s equity, which is:
Market value of equity = Shares × Share price
Market value of equity = 20,000($43) = $860,000
The total book value of the company’s debt is:
Total debt = Current liabilities + Long-term debt
Total debt = $41,769 + 85,000 = $126,769
Now we can calculate Tobin’s Q, which is:
Tobin’s Q = (Market value of equity + Book value of debt) / Book value of assets
Tobin’s Q = ($860,000 + 126,769) / $245,626
Tobin’s Q = 4.02
Using the book value of debt implicitly assumes that the book value of debt is equal to the market value of debt. This will be discussed in more detail in later chapters, but this assumption is generally true. Using the book value of assets assumes that the assets can be replaced at the current value on the balance sheet. There are several reasons this assumption could be flawed. First, inflation during the life of the assets can cause the book value of the assets to understate the market value of the assets. Since assets are recorded at cost when purchased, inflation means that it is more expensive to replace the assets. Second, improvements in technology could mean that the assets could be replaced with more productive, and

Orders of Magnitude and New Signpost Mathematics Essay

Worksheets Answers 2:02 Solving Problems 1 6 2 8 6 15 7 9 10 a $512 b $1023 3 $4.10 8 7 1 hours 2 4 8 9 16 5 260 3:01 Pythagoras’ Theorem A (measurements are in mm) 1 30, 40, 50 Yes 2 15, 36, 39 Yes 3 11, 60, 61 Yes 5 9, 40, 41 Yes 6 36, 48, 60 Yes 7 18, 24, 30 Yes 9 24, 32, 40 Yes 10 13, 84, 85 Yes 4 24, 45, 51 Yes 8 10, 24, 26 Yes 3:02 Pythagoras’ Theorem B 1 3⋅61 2 9⋅85 7 20 8 11⋅40 3 13 9 11⋅18 4 12⋅81 10 8⋅49 5 15 11 17 6 9⋅22 12 14⋅87…

Words 2824 - Pages 12

Stats Probability Essay example

Sample Space • Determining the outcomes. – Build an exhaustive list of all possible outcomes. – Make sure the listed outcomes are mutually exclusive. • A list of outcomes that meets the two conditions above is called a sample space. Sample Space: S = {O1, O2,…,Ok} O1 O2 Sample Space a sample space of a random experiment is a list of all possible outcomes of the experiment. The outcomes must be mutually exclusive and exhaustive. Simple Events Event The individual outcomes are called simple…

Words 2664 - Pages 11

Questions On Principles Of Mathematics

Principles of Mathematics 12 2007/08 — Released Exam January 2008 — Form B Provincial Examination — Answer Key Cognitive Processes K = Knowledge U = Understanding H = Higher Mental Processes Weightings 10% 70% 20% Prescribed Learning Outcomes (PLOs) A Question Type 44 = Multiple Choice (MC) 7 = Written Response (WR) Topics 1. Patterns and Relations A1–A3: Geometric Sequences and Series A4–A6, A13–15: Logarithms and Exponents A7–A12, A16-A18: Trigonometry B1–B6: Shape and Space C1–C5: Combinatorics…

Words 1064 - Pages 5

14 IDLEWILD PALISADES Updated 5 2014 3 Essay

How to read this Bus Schedule INBOUND Central Station A 11th Ave S & 20th St S B 10th Ave S & 8th St S C 24th Ave S & 1st St S D Idlewild Circle E West Valley & Vulcan Rd F Palisades Shopping Center G Leave Oxmoor Rd & Barber Ct H Oxmoor Rd & Barber Ct H Palisades Shopping Center G West Valley & Vulcan Rd F Idlewild Circle E 24th Ave S & 1st St S D 10th Ave S & 8th St S C 11th Ave S & 20th St S B Central Station A —– —– —– —– —– —– —– —– 6:02 6:19 —–…

Words 741 - Pages 3

Essay about chapter 5 solutions

Tail, Tail (T,T) b. x = number of heads on two coin tosses c. Outcome Values of x (H,H) 2 (H,T) 1 (T,H) 1 (T,T) 0 d. Discrete. It may assume 3 values: 0, 1, and 2. 2. a. Let x = time (in minutes) to assemble the product. b. It may assume any positive value: x > 0. c. Continuous 3. Let Y = position is offered N = position is not offered a. S = {(Y,Y,Y), (Y,Y,N), (Y,N,Y), (N,Y,Y), (Y,N,N), (N,Y,N), (N,N,Y), (N,N,N)} b. Let N = number of…

Words 2341 - Pages 10

Essay on Blood and Edition Answer Key

A 3. C 4. D 5. B 6. B 7. D 8. A 9. C 10. A Matching—Anatomical Terms 1. H 2. A 3. G 4. J 5. D 6. B 7. E 8. F 9. L 10. I 11. L 12. K 13. C 14. C 15. E 16. D 17. A 18. D Read the Diagram 1. E 2. C 3. D 4. G 5. A 6. I 7. J 8. H Matching—Regional Body Terms 1. D 2. K 3. H 4. B 5. O 6. C 7. L 8. M 9. E 10. J 11. I 12. Q 13. F 14. T 15. N 16. S 17. A 18. P 19. G 20. U 21. R Matching—Cavities of the Body 1. B 2. C 3. C 4. E 5. F 6. A…

Words 9664 - Pages 39

Questions On Fairground Physics

b E22 E23 E24 Power distribution and generation E1 E2 a b i ii The current in the secondary coil of a step-down transformer is always greater than the current in the primary coil, as current and voltage are inversely proportional in a transformation. E3 Substituting into P = VI: This is too large to run all these appliances at once; the extension cord on the power pack could heat up too much. E4 a b c They should…

Words 3617 - Pages 15

Notes On The Fourier Transform

17.1 [a] F (ω) = −τ /2 (−Ae−jωt ) dt + τ /2 0 Ae−jωt dt A [2 − ejωτ /2 − e−jωτ /2] jω ejωτ /2 + e−jωτ /2 2A = 1− jω 2 −j2A = [1 − cos(ωτ /2)] ω = [b] F (ω) = AP 17.2 f(t) = = 1 2π ∞ 0 ∞ te−ate−jωt dt = −2 −3 0 2 4ejtω dω + −2 te−(a+jω)t dt = 3 ejtω dω + 2 1 (a + jω)2 4ejtω dω 1 {4e−j2t − 4e−j3t + ej2t − e−j2t + 4ej3t − 4ej2t } j2πt 1 3e−j2t − 3ej2t 4ej3t − 4e−j3t = + πt j2 j2 = 1 (4 sin 3t − 3 sin 2t) πt AP 17.3 [a] F (ω) = F (s) |s=jω = L{e−at sinω0 t}s=jω = ω0 (s + a)2 +…

Words 6919 - Pages 28

Essay about Periodic Table and Mass Atomic Mass

the following prefixes mean: mega, kilo, deci, centi, milli, micro, nano, pico mega (M) = 106, kilo (k) = 103, deci (d) = 10-‐1, centi (c) = 10-‐2, milli (m) = 10-‐3, micro (μ) = 10-‐6, nano (n) = 10-‐9, pico (p) = 10-‐12 3. Describe the difference between accuracy and…

Words 1032 - Pages 5

Essay about Mr Suraj Chaodhary

the earliest time the project can be finished. According to Field and Keller (1998), “Critical Path is normally easily spotted as they pass through nodes with the same earliest and latest times.” The Critical Path for the Vobien Project is – A,B,C,F,G,K,L,M,N,O,Q,R 4. EARLIEST COMPLETION DATE OF PROJECT If the project commences on Monday 15th July 2013, the earliest date it can be concluded working 5 days a week and project duration of 50 days will give us 10 work weeks. Since the project…

Words 1079 - Pages 5