Answer:
cash collections from credit sales that the company will include in its cash budget for the second month is $55,500
Explanation:
Second Month Cash Collections will include the following Cash flows:
(1) 60% of the 2nd month`s sales
(2) 35 % of the 1st month`s sales
<u>Therefore cash collections from credit sales :</u>
(1) 60% of the 2nd month`s sales ( $68,000×60%) = $40,800
(2) 35 % of the 1st month`s sales ( $42,000× 35 %) = $14,700
Total cash collections = $55,500
Answer:
D)-26%
Explanation:
The computation of the realized return on your investment is shown below:
= (Rate of return × total investment) - (interest paid)
= (-10% × $20,000) - (6% × $1,000)
= (-$2000 - $600)
= -$2,600
Now the Rate of return is
=(-$2,600 ÷ $10,000)
= -26%
hence, the realized return on your investment is -26%
Therefore the correct option is D.
Answer:
$19,350
Explanation:
The finance charge is 3%. If the 5% retention is a non-refundable security, then the total loss would be 8% (3%+5%).
The nature of the retention is not given, so it is considered that it is refundable, then the total loss would be $19,350 ($645,000*3%).
Thus, the total loss to be reported is $19,350
Answer and Explanation:
The journal entries are as follows;
a. On Jan 1
No journal entry is required
b. On Feb 5
Contra asset Dr $1,320
To Sales revenue $1,320
(being sales revenue is recorded)
Cost of goods sold Dr $670
To Inventory $670
(being cost of goods sold is recorded)
c. On Feb 25
Cash $3,300
Contra asset Dr $1,320
To Sales revenue $1,980
(being sales revenue is recorded)
Cost of goods sold Dr $300
To Inventory $300
(being cost of goods sold is recorded)
It false that the causes of a problem can always possible to identify completely.
<h3>What is problem solving?</h3>
This is defined as the process of finding solution to a task that seems difficult. It is a skill, hence applied after a problem has been identified.
Hence, It false that the causes of a problem can always possible to identify completely.
Learn more about problem solving here : brainly.com/question/23945932
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