Roosevelts New Deal and American Federalism Assignment

Roosevelts New Deal and American Federalism - Assignment Example In the same clause, it postulates that the congress shall impose taxes and duties in a uniform manner across all the states of the United States of America. The third clause is very important as it defined the power of the congress with regard to commerce issues. It states that the congress will have power to regulate powers among the US states and also between the Unites States of America and the rest of the world as well as with the Indian tribes. This clause gave the congress and thus the federal government exclusive power over the state governments, to regulate trade and commerce as well as make, establish and enforce laws regarding commerce. By giving such powers to the federal government, the role of the states was being trampled underneath the federal government and this clause was to later play a big role in defining the power boundaries between the federal government and the state governments. Commerce is definitely very important for any government and giving commercial sup remacy to the federal government meant that the power of the state government was minimized and the power for the federal government was increased.Supreme Court judgements in the past have also helped in defining the parameters of the powers of the federal government of the United States of American over the state level laws. These decisions by the United States include the Supreme Court decisions in McCulloch v. Maryland and Gibbons v. Ogden. In this McCulloch, the second bank of United States found itself in a row with the state of Maryland. The state of Maryland had passed a law that required all banks, local or federal, to only issue local notes and also to pay taxes on these. The second bank of United States did not however want to pay tax because this was not in line with federal bank regulations. As a result, the state of Maryland took the case to court and the case was eventually decided in favour of the second bank of the United States. The Supreme Court quoted the supremac y clause of the United States constitutions and said that the state did not have the power to override the federal laws and that the court should be able subscribe to the federal laws as a guidance to its decision. The same issue was also repeated in the case of Gibbons v. Ogden (1824). In this case, the issue was about the monopoly given to Ogden on the use of the navigation waters of the New York area. The state of New York had given Ogden a monopoly over the waters of the area and also tried to convince the other neighbouring states to do the same but they refused. Gibbons, appealed to the Supreme Court which overruled the decision and argued that the state did not have powers to override the federal laws. The Supreme Court quoted the third clause of the eighth section of article I of the United

Statement of Cash Flows- Assignment Example | Topics and Well Written Essays - 2000 words

Statement of Cash Flows- - Assignment Example The formula for the return on assets is Net income divided by total assets (BPP 2009). Market share _(c) A company's percentage share of total dollar sales within its industry. Working capital _ (d) Current assets less current liabilities. Price-earnings ratio _ (e) A measure reflecting investors' expectations of future profitability. The formula for the price-earnings ratio is price per share divided by earnings per share (EPS) (BPP 2009). Quick ratio _ (f) A measure of short-term solvency often used when a company has large inventories that cannot be quickly converted into cash. The formula for the quick ratio finds the total of all current assets with the exception of inventories and divides the result by the total of all current liabilities. This ratio is the acid test for short term solvency. It takes into consideration the cash cycle of turning inventory into cash, the fact that it may take a while before the inventory and the cash s received by way of cash sale or credit sale. Additionally, inventory can become obsolete. Earnings per share _ (g) A ratio that helps individual stockholders relate the net income of a large corporation to their equity investment.   The formula for earnings per share EPS is: Net income divided by number of issued shares. ... $163,000 + $96,000 = $259,000 (3) The current ratio: 1.5 to 1 i.e. the ratio of current assets to current liabilities - $388,000/259,000 = 1.5 (4) Net Working capital: $129,000 i.e. $388,000 - $259,000 (b) Assume that Red Missile Company pays the note payable of $163,000, thus reducing cash to $17,000. Compute the following after the completion of this transaction: (1) The current ratio: 2.34 to 1 – i.e. 225,000 ($388,000 – 163,000) divided by 96,000 ($259,000 – 163,000) Calculation of current assets: Cash ($180,000 - $163,000) $17,000 Accounts Receivable $84,000 Inventory $124,000 Current assets $225,000 Calculation of current liabilities: Accounts Payable $96,000 Current liabilities $96,000 (2) Net Working capital: $129,000  - i.e. current assets minus current liabilities – $225,000 - $96,000 3- Shown below are selected items appearing in a recent balance sheet of Grant Products. (Dollar amounts are in thousands.)   Ã‚   (a) Compute the following: (1 ) Total quick assets $2,770 and is calculated as follows: Calculations of Total quick assets: Cash and cash equivalents $620 Investments in marketable securities $300 Receivables $1,400 Prepaid expense and other current assets $450 Quick assets $2,770 (2) Total current assets $3,870 and is calculated as follows: Calculation of total current assets: Cash and cash equivalents $620 Investments in marketable securities $300 Receivables $1,400 Inventories $1,100 Prepaid expenses and other current assets $450 Current assets $3,870 (3) Total current liabilities $2200 i.e. $1,600 + $300 + $300 Calculation of current liabilities: Accounts payable $1,600 Bank loans payable within a year $300 Income tax payable $300 Total current liabilities