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3 years ago

Chocolate Co. reports the following information from its sales budget: â€‹ Expected sales:

Business

1 answer:

maksim [4K]3 years ago

4 0

Answer:

The total amount of cash expected to be received from customers in September is: B. $ 108,000

Explanation:

The total amount of cash expected to be received from customers in September include the following :

Cash Sales in the month of September - 25 %
Cash Receipts from Accounts for August Sales - 75 %

The Calculation of cash expected to be received from customers in September is as follows :

Cash Sales - September = 120,000 × 25% = 30,000

Credit Sales - August = 104,000 × 75% = 78,000

Total = 108,000

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If the money supply is growing at a rate of 3 percent per year, real GDP (real output) is growing at a rate of 3 percent per

myrzilka [38]

Answer:

Explanation:

Given that,

Growth rate of money supply = 3% per year

Real GDP growth rate = 3% per year

Velocity = Constant

According to the quantity growth theory of money,

M + V = P + Y

where,

M = Growth rate of money supply

V = Velocity

P = Inflation rate

Y = Real GDP growth rate

M + V = P + Y

3% + 0 = P + 3%

3% - 3% = P

0% = P

Therefore, the inflation rate is 0%.

6 0

2 years ago

Able, on behalf of Pix Corp., entered into a contract with Sky Corp., by which Sky agreed to sell computer equipment to Pix. Abl

Ludmilka [50]

Answer:

D) Pix must have knowledge of all material facts relating

Explanation:

If the contract is beneficial for Pix, then they will want to ratify it. Unless Sky is aware that Able was not authorized to sign contracts on behalf of Pix, they probably wouldn't even tell them about what really happened. Although, Pix will want to know all material facts relating to the contract at the time it is ratified in order to verify if it is really good for them.

7 0

2 years ago

Talbot Riding Stables provides stables, care for animals, and grounds for riding and showing horses. The account balances at the

Goshia [24]

Answer:

See answers below in the explanation

Explanation:

Journal Entries :

Journals

Date Account and Explanation Debit Credit

a Accounts receivable 210300

Service Revenue 210300

(Record earned revenue)

Cash 62300

Service Revenue* 62300

(Record earned revenue)

b cash 199100

accounts receivable** 199100

(Record collection Account)

*$41000+$20500=$62300

**$4400+$210300-$$15600=$199100

c Supplies 62900

Accounts Payable 62900

(record purchase of supplies on credit)

d Supplies 7400

Cash 7400

(record purchase of supplies

e Wages Payable 14200

Cash 14200

Record Payment of previous wages

Wages Expenses 112000

Cash 112000

(Record Payment to Employees)

f Income Tax payable 15100

cash 15100

(Record Payment of Income taxes

g Accounts Payable 73000

cash 73000

(record payment of account)

h Interest Expense 2700

Interest Payable 2700

Cash*** 5400

(Record Payment of Interest)

i No journal entry required

j Property Taxes Expense 17000

cash 17000

(Record payment of property taxes)

k Dividends 7200

Cash 7200

(Record Payment of dividends)

*** $60000*9%=$5400

6 0

2 years ago

Which of the following statements is CORRECT? a. Suppose some of a publicly-traded firm's stockholders are not diversified; they

ivolga24 [154]

B is the answer

Because it was right

6 0

3 years ago

Ratification occurs when the principal accepts responsibility for the agent's acts. For ratification to be valid, the agent must

Zinaida [17]

Answer:

The answers are : unauthorized, identified, facts, affirm, authorization, withdraws, observe.

Explanation:

Ratification occurs when the principal accepts responsibility for the agent's unauthorized acts. For ratification to be valid, the agent must have acted on behalf of an identified principal, that principal must know all of the material facts , must affirm the agent's act in its entirety, and must have the legal authorization to ratify the transaction both at the time the agent engages in the act and at the time the principal ratifies it. The principal's ratification must occur before the third party withdraws from the transaction, and the principal must observe the same formalities when ratifying the act as would have been required to authorize it initially.

5 0

3 years ago