1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kondor19780726 [428]
2 years ago
14

The BRS Corporation makes collections on sales according to the following schedule: 30% in month of sale 60% in month following

sale 10% in second month following sale The following sales have been budgeted: Sales April $ 140,000 May $ 130,000 June $ 150,000 Budgeted cash collections in June would be:
Business
1 answer:
postnew [5]2 years ago
6 0

Answer:

$137,000

Explanation:

The computation of Budgeted cash collections in June is shown below:-

June sales collected in June = June Sales × Sale percentage

= $150,000 × 30%

= $45,000

May sales collected in June = May sales × Following month percentage

= $130,000 × 60%

= $78,000

April sales collected in June = June sales × Following second month percentage

= $140,000 × 10%

= $14,000

Total cash collections in June =June sales collected in June + May sales collected in June + April sales collected in June

= $45,000  + $78,000  + $14,000

= $137,000

You might be interested in
Based on the following information: Assume that Forrest Company uses the LIFO accounting method. In year X1, Forrest reported th
Andru [333]

Answer:

a. $15,500

Explanation:

Based on LIFO, cost of 1500 unit sold will be entirely from the Purchases (year X1). Therefore, we have:

Value of units purchases (year X1) outstanding after sales = (2,000 - 1,500) * $11 = 500 * $11 = $5,500

Therefore, we have

LIFO Inventory on 12/31/X1 = Value of beginning Inventory (1/1/X1) + $5,500 = $10,000 + $5,500 = $15,500.

8 0
3 years ago
A company has outstanding 20-year noncallable bonds with a face value of $1000, and 11% annual coupon, and a market price of $1,
Helen [10]

Answer:

8% and 4.8%

Explanation:

In this question, we use the Rate formula which is shown in the spreadsheet.  

The NPER represents the time period.  

Given that,  

Present value = $1,294.54

Future value or Face value = $1,000  

PMT = 1,000 × 11% = $110

NPER = 20 years

The formula is shown below:  

= Rate(NPER;PMT;-PV;FV;type)  

The present value come in negative  

So, after solving this,  

1. The pretax cost of debt is 8%

2. And, the after tax cost of debt would be

= Pretax cost of debt × ( 1 - tax rate)

= 8% × ( 1 - 0.40)

= 4.8%

6 0
3 years ago
Helppppppp me please?!!!
maxonik [38]

Answer:

idk lol I just use this just so I can get my work done

5 0
3 years ago
In preparing a company's statement of cash flows for the most recent year, the following information is available:
Butoxors [25]

Answer:

- $ 138,000

Explanation:

The investment activities includes the transaction done on purchasing the equipment and selling the land.

Thus, for the given question

The list of investment activities:

Purchase of Equipment = - $ 149,000  

Proceeds from Sales = $ 130,000  

Purchase of Land = - $ 119,000

here, the negative sign depicts the amount is paid

thus, the net cash flow from the investment activities

= - $ 149,000 + $ 130,000 + (- $ 119,000)

or

the net cash flow from the investment activities = - $ 138,000

3 0
3 years ago
Read 2 more answers
Mia has an outside basis of $50,000 in the Brimstone Partnership, including her share of liabilities of $25,000. In a liquidatin
fgiga [73]

Answer:

No gain or loss, Cash basis $10,000, Inventory $15,000

Explanation:

Calculation for Mia’s recognized gain or loss

First step is to calculate for Mia outside adjusted basis

Using this formula

Outside adjusted basis=Outside basis - Liabilities

Let plug in the formula

Outside adjusted basis=$50,000 - $25,000

Outside adjusted basis= $25,000

Second step is to calculate for Mia Gain or loss

Using this formula

Gain/Loss=Outside adjusted basis- Cash received - Inside basis

Let plug in the formula

Gain/Loss =$25,000 -$10,000 -$20,000

Gain/Loss = ($5,000)

Since Mia had ($5,000) this means Mia has no gain or loss

Last step is to calculate for Mia Inventory

Using this formula

Inventory = Cash + Gain/Loss

Let plug in the formula

Inventory =$10,000 + $5,000

Inventory = $15,000

Therefore Mai has NO gain or loss, Cash basis amount of $10,000 and Inventory amount of $15,000

7 0
3 years ago
Other questions:
  • Candice’s first job was at the grocery store making deli food. While in culinary school, she worked part time in a restaurant ki
    7·2 answers
  • A company issues $50 million of bonds at par on January 1, 2018. The bonds pay 10% interest semi-annually on 12/31 and 6/30 and
    5·1 answer
  • The balance sheet below reflects Zee Bank after its purchase of $50 million in government securities from the Fed. Assume a requ
    12·1 answer
  • A registered representative (RR) is recommending to his client a newly issued debt security backed by the U.S. government with a
    13·1 answer
  • Apple's selling iphones to customers in africa, asia, and europe is an example of the globalization of ________.
    9·1 answer
  • Foxx Corp.'s comparative balance sheet at December 31, 2018 and 2017 reported accumulated depreciation balances of $1,245,000 an
    6·1 answer
  • A company is concerned with traffic that flows through the network. There is a concern that there may be malware that exists tha
    9·1 answer
  • Income Statement Wayne Corporation had the following revenue and expense account balances (in millions) for a recent year ending
    13·1 answer
  • Through fraudulent means, Frank induces Ethel to sign a contract to invest with him the profits from her business. When Ethel le
    6·1 answer
  • Help help businesses please please
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!