Answer and Explanation:
The Preparation of the cash budget is shown below:-
PTO Co.
Cash budget
For the month ended Sept. 30
Particulars Amount
Beginning cash balance $41,000
Add: Cash receipts for sales $258,000
Total cash available $299,000
LesS:
Cash disbursement
Direct Material $97,200
($72,000 × 30%) + ($108,000 × 70%)
Direct labor $30,000
Other expenses $59,000
Accrued Taxes $10,800
Interest on bank loan $1,700
Total Cash disbursement $198,700
Ending cash balance $100,300
Answer:
PMT x {[(1 + r)^n – 1]/r}
Explanation:
The formula for calculation the future value of an ordinary annuity is given as :
PMT x {[(1 + r)^n – 1]/r} ;
Where ;
PMT = Payment amount ; r = discount rate
n = number of payments
For ordinary annuity, payment are made at the end of each period as opposed payment made at the beginning of the period for annuity due.
Answer:
Explanation:
2/10 , n/30 is a credit term arrangement where the seller agrees with the buyer that if payments are made within 10 days after purchase , he will enjoy a 2% discount or otherwise pay the full invoice amount at 30 days.
As Jepson paid on the 18th of the same month which is 9 days after purchase , he is entitled to 2% discount on the sales.
<u>Journal Entry</u>
September 8
Credit Sales - $9,600
Debit receivable = $9,600
September 18
Debit Cash - $9,408
Debit sales discount - $ 192
Credit receivable - $9,600
The answer is d sole proprietorship
Answer:
C) both anonymous and confidential
Explanation:
- As the student-run, the new paper and ask other students to visit a link firm the new paper and respond to those questions and the responses for only those questions were recorded.
- This indicates that the newspaper survey is anonymous and confidential as the ant student can fill the survey and the information that is confidential as none outside the newspaper has access to those responses.
