Business Administration 1220E Lecture Notes - Lecture 13: Net Income, Retained Earnings, Deferral

• School: Western University
• Department: Business Administration
• Course: Business Administration 1220E
• Professor: Trina Ruthes

Document Summary

Business 1220e- lecture 13- projected financial statements (clark carriers ltd. ) part a. Steve rendl is the assistant account manager for the commercial equipment financing. Division of ge capital canada which is located in toronto, ontario (who will be making the decision) Decision on whether to approve a ,000 loan for clark carriers ltd. (an existing client to ge capital canada) Wants loan to purchase two new equipment (assets) Signed a contract with ford motor co. in march 2011 which expires in march 31, 2013 and has not been renewed. Instead, ford motor co. is allowing any trucking companies to bid for their contract and in order to win the bid and sign the contract, clark carriers ltd. must increase its assets (reason for loan request) Owners of clark carriers ltd. are doug and his wife annette clark and was founded in. Rendl is new to the job ( working only for 8 months) and thus his actions create a precedent.