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chubhunter [2.5K]
3 years ago
12

On May 1, your firm had a beginning cash balance of $175. Your sales for April were $430 and your May sales were $480. During Ma

y, you had cash expenses of $110 and payments on your accounts payable of $290. Your accounts receivable period is 30 days. What is your firm's beginning cash balance on June 1?
Business
2 answers:
Juli2301 [7.4K]3 years ago
8 0

Answer:

Begininig cash balance June 1 205

Explanation:

Sales April 430

Sales May 480

 

Begininig cash balance May 1 175

Cash expenses                        -110

Payments                               -290

Sales april                                 430

Begininig cash balance June 1 205

dezoksy [38]3 years ago
6 0

Answer:

Firm's beginning cash balance on June 1: $205

Explanation:

+ Cash receipt from sales on account is not received until 30 days later as accounts receivable period is 30 days. As a result, Cash receipt from sales in May = Sales on credit in April = $430

+ Beginning cash balance on June is calculated as:

Beginning cash balance in May + Cash receipt from credit sales in May - Cash expenses in May - Cash payment to account payable in May = 175 + 430 -110 - 290 = $205.

So, the answer is $205.

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You expect to receive $2,600 upon your graduation and will invest your windfall at an interest rate of 0.33 percent per quarter
kupik [55]

Answer:

n= 39.49 years

Explanation:

Giving the following information:

Present value (PV)= $2,600

Future value (FV)= $4,375

Interest rate (i)= 0.33/100= 0.0033

<u>To calculate the number of years, we need to use the following formula:</u>

n= ln(FV/PV) / ln(1+i)  

n= ln(4,375/2,600) / ln(1.0033)

n= 157.96/4

n= 39.49 years

5 0
2 years ago
94. Averaging the deviations from the mean for a portfolio of securities will: A. compute the standard deviation. B. compute the
Yuri [45]

Answer: C. equal zero

Explanation:

The mean is average of the portfolio which means that some securities will be more than the mean and some will be less.

Some deviations will be positive, others will be negative.

When these deviations are added together, the negative deviations will cancel out the positive deviations which will lead to the average deviations being 0.

8 0
3 years ago
Bonita Industries uses flexible budgets. At normal capacity of 21000 units, budgeted manufacturing overhead is $168000 variable
Mrac [35]

Answer:

$22,000 Favorable

Explanation:

The computation of the difference between actual and budgeted cost is given below:

Budgeted Variable Manufacturing Overhead Per Unit is

= $168,000 ÷ 21,000 units

= $8

The Fixed Overhead = $360,000

Now

For 26,000 Units, total Overhead Should be:

Variable = 26,000 × 8 = $208,000

Fixed = $360,000

Total = $568,000

And,  

Actual Overhead Cost = $546,000

So,  

Difference between Actual and Budgeted Cost is

= $568,000 - $546,000

= $22,000 Favorable

6 0
2 years ago
If an organization allows byod, how can employees make sure that their device is secured?.
Temka [501]

Virtual Private Network (VPN) and antivirus solutions in order to reduce the chances of exposing corporate data.

<h3>What is VPN?</h3>

Users can send and receive data across shared or public networks as if their computing equipment were directly linked to the private network thanks to a virtual private network, which enables a private network to be extended across a public network.

<h3>What is Antivirus software?</h3>

Computer programs used to prevent, identify, and eliminate malware are referred to as antivirus software or anti-malware. In order to find and eliminate computer infections, antivirus software was first created.

To decrease the risk of corporate data being compromised, a smart BYOD policy should mandate that employees always keep their personal devices password-protected (and use multi-factor authentication). Employees should also think about utilizing a Virtual Private Network (VPN) and antivirus software.

To know more about Virtual Private Network (VPN) and antivirus solutions visit:

brainly.com/question/14413254

#SPJ4

7 0
1 year ago
Jing Company was started on January 1, Year 1 when it issued common stock for $31,000 cash. Also, on January 1, Year 1 the compa
romanna [79]

Answer:

$156

Explanation:

equipment cost = $15,500 + $1,600 = $17,100

five year useful life ⇒ double declining depreciation rate = (1 / 5) x 2 = 40%

salvage value = $6,000

  • depreciation year 1 = 40% x $17,100 = $6,840, book value = $10,260
  • depreciation year 2 = 40% x ($17,100 - $6,840) = $4,104, book value = $6,156
  • depreciation year 3 = book value - salvage value = $6,156 - $6,000 = $156

When you use the double declining balance, depreciation expenses ceases when the book value = salvage value.

6 0
3 years ago
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