Answer:
Target Corporation
The amount that will be debited to the bonds payable account on December 31, 2020 will be:
= $9,000,000
Explanation:
a) Data and Calculations:
January 1, 20xx:
Face value of bonds issued = $9,000,000
Maturity period = 20 years
Stated interest rate = 9%
Interest payment = June 30 and December 31
Semiannual Interest Payment in dollars = $405,000 ($9,000,000 * 4.5%)
b) At maturity of the bonds after 20 years, Target Corporation will debit the Bonds Payable account and credit its Cash account with the sum of $9,000,000. On that date, the bond's carrying amount will be equal to the Bonds Payable account balance, all things remaining equal.
Wanda opens a retirement account and starts with a balance of $6,000. One year later she has $6,720 in the account. During the year, the consumer price index increased from 160 to 166.4.
The nominal interest rate is ______________ % and the real interest rate is ____________ %
Consider the following information about production in quarter 1 of 2019.
Firm T produces 600 tires at a cost of $28 each, and sells 580 tires to Firm B at a cost of $37 each.
Firm B produces 290 bicycles at a total of cost of $348 each, and sells 280 bicycles to consumers for $407 each.
In this simple economy, what is the value of inventory investment?
Bob sells his 4 year old carto his cousin Bill. This _____________ count in GDP.
Joy sells her 5 year old car to CarMax. This _____________ count in GDP.
Auto Nation sells used cars for 25% more than they pay for them. This ___________ count in GDP
The nominal and the real interest rate is "12%" and "8%". A further explanation is provided below.
Given:
Future worth,
= $6,720
Present worth,
= $6,000
→ The Nominal interest rate is:
= [tex](\frac{Future \ worth}{Present \ worth})^{1/years} -1[/tex]
= [tex](\frac{6720}{6000} )^1-1[/tex]
= [tex]0.12\times 100[/tex]
= [tex]12[/tex] (%)
Now,
→ The Inflation rate will be:
= [tex]\frac{166.4}{160}-1\times 100[/tex]
= [tex]4[/tex] (%)
hence,
→ The real interest rate will be:
= [tex]Nominal \ rate - Inflation \ rate[/tex]
= [tex]12-4[/tex]
= 18
Thus the above is the right solution.
Learn more about Nominal interest rate here:
https://brainly.com/question/13324776
The quantity of money demanded is the Group of answer choices income and volume of profits that people and businesses would like to receive. average daily volume of bank account withdrawals. amount that people and businesses choose to hold. fraction of cash holdings in an average investment portfolio.
Answer:
The amount that people and businesses choose to hold.
Explanation:
The amount that people and businesses choose to hold.
The total demand for money is the total amount of money that people wants to hold and there are three main reasons for which money is being held. First is transactions related reason, second is the precautionary reason, and third is the speculative reason. The above three reasons push the people to hold the money that becomes the total demand for money.
You invent of a new type of dog leash. You choose a market segmentation approach and decide to target the large national population of dog owners. After reviewing what identifies an ideal market you realize your segmentation approach does not meet any of the effective segmentation conditions. At this point you should:
Answer:
refine your approach by going back to the drawing board
Explanation:
Considering the scenario described above in the question, the best thing to do is "refine your approach by going back to the drawing board."
This will give you the chance and opportunity to look for a better plan, then find a perfect segmentation approach that really meets and satisfy all of the effective segmentation conditions.
Cardinal Health bonds have an annual coupon rate of 3.4 percent and a par value of $1,000 and will mature in 7 years. If you require a 5 percent return, what price would you be willing to pay for a Cardinal bond
Annual coupon to be paid[tex]\bold{= \$1000 \times 3.4\%= \$1000 \times \frac{3.4}{100} = \$34}[/tex]
years = 7
Calculating the bond price:
[tex]= \$1000 \times PVF(5\%, 7\ years) +\$34 \times PVAF(5\%, 7\ years) \\\\= \$1000 \times 0.71068 +\$34 \times 0.17282\\\\= \$710.68 + \$5.87588\\\\= \$716.55588\\\\= \$716.56\\\\[/tex]
So, the final answer is "$716.56".
Learn more:
brainly.com/question/15570099
what are the impacts of political environment on business?
Answer:
as u try to do the benefit of your representative and try to win
Technology: Multiple Choice Has replaced accounting. Has not improved the clerical accuracy of accounting. Reduces the time, effort and cost of recordkeeping. In accounting has replaced the need for decision makers. In accounting is only available to large corporations.
Answer:
Reduces the time, effort and cost of recordkeeping.
Explanation:
Advantages of technology in accounting
It has improved the clerical accuracy of accounting. The errors made have reduced. It reduces the time, effort and cost of recordkeeping.It has reduced the reliability of accounting information generated because of increased accuracyDespite the advantages of technology in accounting, technology is yet to replace man as decision makers because man is still needed to interpret the data generated by technology and take appropriate actions based on the interpretation of the generated data
What would happen to the equilibrium price and quantity of lattés if the cost to produce steamed milk, which is used to make lattés, increased, and scientists discovered that lattés lead to a longer life expectancy? Group of answer choices The equilibrium quantity would decrease, and the effect on equilibrium price would be ambiguous. Both the equilibrium price and quantity would increase. Both the equilibrium price and quantity would decrease. The equilibrium price would increase, and the effect on equilibrium quantity would be ambiguous.
Answer:
The equilibrium price would increase, and the effect on equilibrium quantity would be ambiguous.
Explanation:
The equilibrium price would increase, and the effect on equilibrium quantity would be ambiguous.
The increase in the cost of production will decrease the supply so the supply curve will shift leftward and simultaneously the research by scientists says the consumption of lattes will increase the life expectancy so many people will start consuming t os demand curve will shift rightwards. That means equilibrium price will increase but change in quantity can not be determined.
Suppose that hiring a third worker at the campus coffee shop increases sales from $115 per hour to $130 per hour. What is the marginal product of labor per hour from adding that third worker
Answer: $15 per hour
Explanation:
The marginal product of labor in this instance is the increase in total sales as a result of one additional worker being hired:
= Change in sales/ change in number of workers
= (130 - 115) / 1
= 15/1
= $15 per hour
Morgana Company identifies three activities in its manufacturing process: machine setups, machining, and inspections. Estimated annual overhead cost for each activity is $140,000, $240,000, and $54,000, respectively. The cost driver for each activity and the estimated annual usage are number of setups 2,000, machine hours 24,000, and number of inspections 1,200.
Required:
Compute the overhead rate for each activity.
Answer:
Machine setups= $70 per setup
Machining= $10 per machine hour
Inspection= $45 per inspection
Explanation:
To calculate the allocation rate for each activity, we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Machine setups= 140,000 / 2,000= $70 per setup
Machining= 240,000 / 24,000= $10 per machine hour
Inspection= 54,000 / 1,200= $45 per inspection
This may also be asked as "Why are you looking for a job?" This question can make the most seasoned interviewee squirm a little because of the first word; why. A question starting with "why" immediately places you on the defensive.
Answer:
Starting a question in a job interview with the word "why" can be a little intimidating and put even a more experienced interviewee on the defensive because communication has been established directly, which occurs when the sender conveys the main message of clearly and objectively, and when it is asked in the form of a question, such as in a job interview, this can generate increased expectations and consequently put a candidate on the defensive, which can make the interviewer not able to actually capture the real motivation of the candidate in the interview.
In order for a job interview to be effective, and for the best candidate to be selected for the job vacancy, it is necessary that it be carried out indirectly, with the interviewer being cordial and not intimidating, gaining the candidate's trust and the make you feel comfortable and safe to share your professional experiences and demonstrate your personality more spontaneously.
Your company buys a computer system for $3 million and pays the vendor $200,000 to install the computer system. Your company should record: A. $3.2 million as expenses. B. $2.8 million as equipment and the rest as expenses. C. $3.2 million as equipment. D. $3 million as equipment and $200,000 as expenses.
Answer:
Your company should record:
C. $3.2 million as equipment.
Explanation:
a) Data and Calculations:
Cost of computer system = $3 million
Installation cost = $200,000
Total equipment cost = $3.2 million
b) The cost of installation, which helps to bring the computer system into its intended use, forms part of the equipment cost. Therefore, to record the asset in the books of the company, the sum of $3.2 million will be recorded as equipment. There are no expenses for the equipment at this time.
Bengal Co. provides the following unit sales forecast for the next three months: July August September Sales units 4,800 5,500 5,360 The company wants to end each month with ending finished goods inventory equal to 25% of the next month's sales. Finished goods inventory on June 30 is 1,200 units. The budgeted production units for July are: Multiple Choice 6,000 units. 3,600 units. 6,175 units. 2,400 units. 4,975 units.
Answer: 4,975 units
Explanation:
Budgeted production in July = Sales forecast for July + Ending inventory for July - Beginning inventory
Beginning inventory = 25% of July sales
= 25% * 4,800
= 1,200 units
Ending inventory = 25% of August sales
= 25% * 5,500
= 1,375 units
Budgeted production is therefore:
= 4,800 + 1,375 - 1,200
= 4,975 units
giải hộ em câu THUẾ này nói về đúng hay sai và giải thích , đưa ra lời giải giúp em ạ , em cám ơn mọi người ạ
DN nhập một lô hàng với số lượng là 10.000sp A; theo giá FOB cảng nước XK 1usd/sp. chi phí vận tải F và BHQT I phải trả bằng 20% giá nhập của lô hàng. tỷ giá hối đoái tính thuế 20.000 vnđ/usd. Thuế suất TNK 20% (TNK được giảm 20% số thuế phải nộp) , TTTDB 15%, TGTGT 10%. TNK, TGTGT, TTTĐB phải nộp của lô hàng A này lần lược là : 38.400.000 đ; 27.840.000đ; 45.936.000đ.
Explanation:
giải hộ em câu THUẾ này nói về đúng hay sai và giải thích , đưa ra lời giải giúp em ạ , em cám ơn mọi người ạ
DN nhập một lô hàng với số lượng là 10.000sp A; theo giá FOB cảng nước XK 1usd/sp. chi phí vận tải F và BHQT I phải trả bằng 20% giá nhập của lô hàng. tỷ giá hối đoái tính thuế 20.000 vnđ/usd. Thuế suất TNK 20% (TNK được giảm 20% số thuế phải nộp) , TTTDB 15%, TGTGT 10%. TNK, TGTGT, TTTĐB phải nộp của lô hàng A này lần lược là : 38.400.000 đ; 27.840.000đ; 45.936.000đ.
The difference between domestic and international marketing lies in the different concepts of marketing.
Answer:
The difference between domestic and international marketing lies in the different concepts of marketing. An international marketer must deal with at least two levels of uncontrollable uncertainty. ... The foreign policies of a country have a direct effect on a firm's international marketing success
Next year, we will be in a boom, bust, or normal state with 25%, 25% and 50% probabilities respectively. Apple will return 15%, -22% and 7% in each state (again respectively).
a) What is the expected return for Apple next year?
b) What is the standard deviation of returns for Apple next year?
Answer:
a. 1.75%b. 14.10%Explanation:
a. Expected return:
This will be a weighted average of the returns in different states.
= (25% * 15%) + (25% * -22%) + (50% * 7%)
= 1.75%
b. Standard deviation:
= √ Variance
= √(25% * (15% - 1.75%)²) + (25% * (-22% - 1.75%)²) + (50% * (7% - 1.75%)²)
= √0.01986875
= 14.10%
In many organizations, information flows much more freely within functional departments than it does across functions (i.e., throughout the entire organization). ________ represents an information system designed to overcome this tendency.
Answer:
ERP
Explanation:
Enterprise resource planning (ERP) means the software that can be used by an organization in order to manage the day to day business activities like accounting, management of risk, supply chain management, project management, etc
Also here the information could be transfer within the functional departments via the overall organization
Therefore the above should be the answer
There is no relationship between the level of education received and lifetime earnings.
Answer: False
Explanation:
There is a relationship between the level of education that a person receives and the lifetime earnings. It should be noted that the more education that a person receives, the higher the lifetime earnings of such person will be.
For example, someone who has a doctorate degree is expected to have a higher lifetime earnings than someone who has a high school degree.
Therefore, based on the explanation given, the statement is false.
Over the years, Hampton Industries' stockholders have provided $40,000,000 of capital when they purchased new issues of stock and allowed management to retain some of the firm's earnings. The firm now has 1,000,000 shares of common stock outstanding, and the shares sell at a price of $52 per share. What is Hampton's MVA(market value added)
Answer:
Hampton Industries
Hampton's Market value added (MVA) is:
= $12,000,000
Explanation:
a) Data and Calculations:
Stockholders' Equity = $40,000,000
Common stock outstanding = 1,000,000
Market price per share = $52
Market capitalization = $52,000,000 ($52 * 1,000,000)
Market value added (MVA) = $12,000,000 ($52,000,000 - $40,000,000)
b) The market value added (MVA) is the difference between the market capitalization of Hampton's stock and the capital contribution of stockholders.
Nation Furniture is a furniture manufacturing facility. Its workers just signed a two-year contract. The price level in the economy has increased.
a. If the price level increases, input prices will:_____.
a) increase.
b) decrease.
c) remain constant.
b. If the price level increases, output prices will:___.
a) increase.
b) decrease.
c) remain constant.
c. In the short run, the firm will experience a(n):______.
a) increase in economic profits.
b) decrease in economic profits.
c) increase in economic loesses.
Answer:
a. c) remain constant. b. a) increase.c. a) increase in economic profitsExplanation:
a. The workers have just signed a two-year contract which means that in the short run, their wages are fixed to what was agreed to in the contract. Input prices will therefore remain constant.
b. Output prices on the other hand will increase to match the increase in price levels.
c. The company would therefore see an increase in economic profits because they are getting a higher revenue from the increased prices of outputs than they are incurring costs from the constant input prices.
Blackwell Industries received a 120-day, 9% note for $180,000, dated August 10 from a customer on account. Assume 360-day year. Required: a. Determine the due date of the note. b. Determine the maturity value of the note. When required, round your answers to the nearest dollar. $fill in the blank abd719f5d049ff0_2 c. Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not requ
Answer: a. 120 days
b. $185400
Explanation:
a. The due date of the note will be:
August = 31-10 = 21 days
September = 30 days
October = 31 days
November = 30 days
December = 8 days
Total = 120 days
b. The maturity value of the note will be:
= 180000 + (180000 × 9% * 120/360)
= 180000 + (180000 × 0.09 × 0.33)
= 180000 + 5346
= 185346
= 185400 to nearest dollar
3. 8 december
Debit Cash $ 185,400
Credit Note Receivable $180,000
Credit Interest Revenue $5,400
Jordan took a business trip from New York to Denver. She spent two days in travel, conducted business for nine days, and visited friends for five days. She incurred the following expenses:
Airfare $ 520
Lodging 3,200
Meals 800
Entertainment of clients 640
How much of these expenses can Jordan deduct?
The expenses that Jordan can deduct is $3,731.
This is the amount that she can deduct as business expenses for this trip from New York to Denver.
Data and Calculations:
Expenses incurred on the trip for both business and private purposes:
Lodging 3,200
Meals 800
Total $4,000
Travel days = 2 days
Business days = 9 days
Visiting friends = 5 days
Total days spent conducting business and visiting friends = 14 days
Business portion of the above expenses = 9/14
Amount to be deducted as business expenses is calculated as follows:
Portion of the above total expense = $2,571 ($4,000 ( 9/14)
Airfare 520
Entertainment of clients = 640
Total amount that Jordan can deduct = $3,731
Thus, Jordan can deduct $3,731 of her expenses for the business trip.
Learn more about deductible business trip expenses here: https://brainly.com/question/15127637
Ambiance Inc. buys back 3,000 shares of its $10 par value common stock from investors at $45 per share. This stock repurchase would be recorded with a debit to: A. Treasury Stock for $30,000, a debit to Additional Paid-in Capital for $105,000, and a credit to Cash for $135,000. B. Treasury Stock and a credit to Cash for $135,000. C. Cash and a credit to Treasury Stock for $135,000. D. Treasury Stock and a credit to Cash for $30,000.
jjhhhhbjkkkknjhhhhjjjjjjj
Susans Consulting Company (SCC) has been in business for ten years and has experienced a significant turnover in the project management group, which has prompted senior leadership to investigate.
A preliminary review by senior leadership has determined that Project Managers are frustrated with the amount of required project management documentation, which has impacted their ability to manage projects successfully.
A recent review of the project management process has determined that SCC has spent between 30-40% of its total project budget on projects' overhead costs to include project management costs. A review of industry standards is between 5-15% higher than most companies. In addition, senior leaders found that projects are being delivered between 25% and 50% over budget and late 95% of the time.
Note: Project Management overhead includes the PM's time managing the project, attending meetings, and developing the required documentation.
SCC Request: SCC has reached out to your team because you are experts in defining project management processes and delivering projects on time. The SCC request includes the following:
. The development of a new project management process which at a minimum should include the following:
· The ability to track issues, risks, changes
· The ability to view project activities consists of a view of what has been completed and what activities the team is working on over the next reporting period
· The company must have a view into total life cycle project costs to include what has been spent to date, baseline budget, any changes to the budget, remaining budget, and cost of the project at completion
· In addition, to the new process request, SCC has a new project they need to complete by the end of the year with a limited budget and no project management staff.
1. Using your defined project management process outlined above, describe the life cycle model for this project
2. Create a WBS for the project. Remember your WBS is a deliverable base, so there should be a section of your WBS which outlines our project management deliverables
3. Using your defined prioritization process, prioritize each application.
4. Using the defined organizational structure, create a pictorial and narrative description of the organizational structure for the project.
Answer:
was assigned with this problem (the reference text is attached):
Which of the following, if included in a student's paper, would NOT be an example of plagiarism?
1. In the game of baseball, which is rather boring, the batter stands on home base (Hughes 1).
2. Baseball is rather surprisingly known as "America's Favorite Pastime."
3. Baseball is "a rather boring sport played between two teams of nine players" (Hughes 1).
4. All of these are plagiarism.
The answer tells that only the third choice is NOT a plagiarism. My question is, why is the first choice a plagiarismwas assigned with this problem (the reference text is attached):
Which of the following, if included in a student's paper, would NOT be an example of plagiarism?
1. In the game of baseball, which is rather boring, the batter stands on home base (Hughes 1).
2. Baseball is rather surprisingly known as "America's Favorite Pastime."
3. Baseball is "a rather boring sport played between two teams of nine players" (Hughes 1).
4. All of these are plagiarism.
The answer tells that only the third choice is NOT a plagiarism. My question is, why is the first choice a plagiarismwas assigned with this problem (the reference text is attached):
Which of the following, if included in a student's paper, would NOT be an example of plagiarism?
1. In the game of baseball, which is rather boring, the batter stands on home base (Hughes 1).
2. Baseball is rather surprisingly known as "America's Favorite Pastime."
3. Baseball is "a rather boring sport played between two teams of nine players" (Hughes 1).
4. All of these are plagiarism.
The answer tells that only the third choice is NOT a plagiarism. My question is, why is the first choice a plagiarism
1.sing your defined project management process outlined above, describe the life cycle model for this project.
What is (SCC) ?
Susans Consulting Company (SCC) has been in business for ten years and has experienced a significant turnover in the project management group, which has prompted senior leadership to investigate.
A preliminary review by senior leadership has determined that Project Managers are frustrated with the amount of required project management documentation, which has impacted their ability to manage projects successfully.
A recent review of the project management process has determined that SCC has spent between 30-40% of its total project budget on projects' overhead costs to include project management costs. A review of industry standards is between 5-15% higher than most companies. In addition, senior leaders found that projects are being delivered between 25% and 50% over budget and late 95% of the time.
Note: Project Management overhead includes the PM's time managing the project, attending meetings, and developing the required documentation.
SCC Request: SCC has reached out to your team because you are experts in defining project management processes and delivering projects on time. The SCC request includes the following:
.The development of a new project management process which at a minimum should include the following:
The ability to track issues, risks, changes
The ability to view project activities consists of a view of what has been completed and what activities the team is working on over the next reporting period
The company must have a view into total life cycle project costs to include what has been spent to date, baseline budget, any changes to the budget, remaining budget, and cost of the project at completion.
Learn more about busines
https://brainly.com/question/24448358
#SPJ2
For each item indicate whether it would appear on the income statement, balance sheet, or retained earnings statement: a. Service Revenue select a financial statement b. Utilities Expense select a financial statement c. Cash select a financial statement d. Accounts Payable select a financial statement e. Supplies select a financial statement f. Salaries and Wages Expense select a financial statement g. Accounts Receivable select a financial statement h. Common Stock select a financial statement i. Equipment select a financial statement j. Advertising Expense select a financial statement k. Dividends select a financial statement l. Notes Payable select a financial statement
Answer:
Indication of Financial Statement Items:
Item Financial Statement
a. Service Revenue Income Statement
b. Utilities Expense Income Statement
c. Cash Balance Sheet
d. Accounts Payable Balance Sheet
e. Supplies Balance Sheet
f. Salaries and Wages Expense Income Statement
g. Accounts Receivable Balance Sheet
h. Common Stock Balance Sheet
i. Equipment Balance Sheet
j. Advertising Expense Income Statement
k. Dividends Retained Earnings Statement
l. Notes Payable Balance Sheet
Explanation:
a) Company A's Income Statement is a financial statement that shows its financial performance in terms of profitability. It contains the revenue and expenses. It determines the net income (excess of revenue over expenses).
b) Company A's Balance Statement is a financial statement that indicates its financial position by showing the assets, liabilities, and equities.
c) The statement of retained earnings is a financial statement that connects its income statement to the balance sheet. It shows the movement in the retained earnings.
A company purchases 50 units of inventory for $3.50 on January 5 and 35 units for $3.00 on January 25. It sells a total of 65 units on January 31. If the company is following the FIFO method of inventory costing, what is the total cost of the inventory sold?
Answer:
COGS= $220
Explanation:
Giving the following information:
A company purchases 50 units of inventory for $3.50 on January 5 and 35 units for $3.00 on January 25.
Number of units sold= 65
First, we need to calculate the number of units in ending inventory:
Ending inventory in units= (50 + 35) - 65= 20
Now, under the FIFO (first-in, first-out) method, the cost of goods sold is calculated using the cost of the firsts units incorporated into inventory:
COGS= 50*3.5 + 15*3
COGS= $220
Bạn chọn yếu tố nào để định vị bản thân trong tương lai, góp phần nâng cao khả năng tìm kiếm việc làm? Trình bày kế hoạch để thành công trong công tác định vị này ?
Answer:
quan trọng bản thân thật sự thích cái gì và học chuyên môn về cái mình thíc
Explanation:
what is reductionasim
Answer:
Thus, the ideas that physical bodies are collections of atoms or that a given mental state (e.g., one person's belief that snow is white) is identical to a particular physical state (the firing of certain neurons in that person's brain) are examples of reductionism.
Explanation:
All of the following are qualified education expenses for the Lifetime Learning Credit and American Opportunity Credit, except: _________
a) Books and Supplies.
b) Tuition and Fees.
c) Equipment.
d) Room and Board.
Answer:
d) Room and Board.
Explanation:
The only option that is not qualified as an educational expense would be Room and Board. This is because a place to stay on campus is not a necessity for learning. Tuition/Fees, Equipment, and Books/Supplies are all necessary in order to be able to attend the university and learn. Without these, it would be impossible for you as a student to learn what is needed. However, with these things you can easily travel by car, bus, or train to the faculty without the need for a room or board.
Elson co, needs to raise debt and for this purpose issued two different bonds, Bond A and Bond B. Both bonds have 20 years to maturity with a face value of $20000. Bond A will make no coupon payment over the entire life, however Bond B is a semiannual coupon bond. It will make first coupon payment of $1100 at sixth year semiannually for the next 8 years. After that it will make coupon payment of $1400 for the rest of its remaining life. Find the price of Bond A and B if the required rate of return on these bonds is 7 percent compounded semiannually.
Answer:
The right solution is "$20.733.16".
Explanation:
According to the question,
Face value,
= $20000
Rate (r),
= .035
Bond A:
= [tex]\frac{Face \ value}{(1+r)^n}[/tex]
= [tex]\frac{20000}{(1+.035)^{40}}[/tex]
= [tex]5051.45[/tex] ($)
Bond B:
= [tex]\frac{1100\times 12.0941}{(1+.035)^{10}} + \frac{1400\times 10.9205}{(1+.035)^{26}} + \frac{20000}{(1+.035)^{40}}[/tex]
= [tex]9431.11+6250.6+5051.45[/tex]
= [tex]20733.16[/tex] ($)
our Company will open a new store on January 1. Based on experience from its other retail outlets, Entertainment Inc. is making the following sales predictions: Cash Sales Credit Sales January $80,000 $160,000 February $50,000 $170,000 March $60,000 $190,000 April $50,000 $210,000 You estimate that the pattern of collection of credit sales will be 45% in the month of sale and 40% in the month following the sale; 8% in the third month, the remaining 7% is uncollectable. Based on this data calculate the estimated total cash collections for March
Answer:
Entertainment Inc.
The estimated total cash collections for March are:
= $226,300.
Explanation:
a) Data and Calculations:
Cash Sales Credit Sales
January $80,000 $160,000
February $50,000 $170,000
March $60,000 $190,000
April $50,000 $210,000
January February March April
Credit Sales $160,000 $170,000 $190,000 $210,000
Cash collections:
45% sales month $72,000 $76,500 $85,500 $94,500
40% ffg sales 64,000 68,000 76,000
8% third month 12,800 13,600
7% uncollectible
Total cash collections for March $166,300
Cash sales 80,000 50,000 60,000 50,000
Total cash collected for March $226,300
