I am only responsible for wages payable. This is part i need for denial letter.
I have attached all files.
In this course, you have an opportunity to work with your classmates as teams. The ability to interact and solve problems together — even at a distance — is a key skill in today’s business environment. Team Assignment information is available in the Rubric icon below, and your team has a proprietary Team Discussion Board area under Unit 3 labeled Team X Discussion. Your instructor will assign the teams.
Please post your meeting minutes in your Team Discussion Board area. Setting up a specific time each week to check in may be helpful.
The following course outcome is assessed in this Assignment:
PC-1.2: Contribute to team goals and objectives through active participation and collaboration.
This Team Assignment requires you to:
- Analyze financial data and present the rationale to deny a loan renewal request.
- Participate in the Team Discussion Board located under the Unit 3 tab in the left-hand bar.
Instructions: Read the scenario and then access the data spreadsheet below and the business letter template as well as the grading rubric. The grading rubric provides some tips on how to organize your team process.
Scenario: The Team Assignment requires an analysis of specific financial data of Bob Smith Inc. Bob is an existing bank customer. When the loan to Bob was originally made in 2016 the bank required Bob to increase the YE 2016 cash balance to at least $70,000 by YE 2017. The Cash Flow Statement and Balance Sheet show an actual YE 2017 cash balance of less than $34,000.
The Team Assignment requires participation in a team effort to complete the (partially prepared) 2017 Cash Flow Statement. In Seminar 1 you discussed how to complete and use the 2017 Cash Flow Statement outcomes to explain how specific accounts influenced Bob’s low cash balances…in other words, some reasons why Bob has no cash!
This information allows you to substantiate the 2018 loan denial. You are aware this action will create dire financial circumstances for Bob’s company. As the loan officer you must pass along the news in a business letter that is most professional and written in an objective manner. Please use values in the letter whenever possible.
Upon completing the Team Assignment, please designate one member of the team to submit the Assignment to the Unit 3 Assignment #2 Dropbox.