All sales are made on account. collections from customers are normally 70 percent in the month of sale, 20 percent in the month following the sale, and 9 percent in the second month following the sale. the balance is expected to be uncollectible. all purchases are on account. management takes full advantage of the 2 percent discount allowed on purchases paid by the tenth of the following month. purchases for november are budgeted at $150,000, and sales for november are budgeted at $165,000. cash disbursements for expenses are expected to be $36,000 for the month of november. the company’s cash balance on november 1 was $55,000.prepare the expected cash collections during august.
Answers: 1
Business, 22.06.2019 10:00, kortlen4808
mary's baskets company expects to manufacture and sell 30,000 baskets in 2019 for $5 each. there are 4,000 baskets in beginning finished goods inventory with target ending inventory of 4,000 baskets. the company keeps no work-in-process inventory. what amount of sales revenue will be reported on the 2019 budgeted income statement?
Answers: 2
Business, 22.06.2019 12:40, notorius315
Evan company reports net income of $232,000 each year and declares an annual cash dividend of $100,000. the company holds net assets of $2,130,000 on january 1, 2017. on that date, shalina purchases 40 percent of evan's outstanding common stock for $1,066,000, which gives it the ability to significantly influence evan. at the purchase date, the excess of shalina’s cost over its proportionate share of evan’s book value was assigned to goodwill. on december 31, 2019, what is the investment in evan company balance (equity method) in shalina’s financial records?
Answers: 2
All sales are made on account. collections from customers are normally 70 percent in the month of sa...
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