Which staff member usually does the work of both a front desk clerk and an accounting clerk?

Jasper Company has 70% of its sales on credit and 30% for cash. All credit sales are collected in full in the first month follow

hjlf

Jasper Company Cash Receipts Budget shows the estimated cash receipts from customers and other sources.

<h3>Cash Receipts Budget for April, May, and June:</h3>

April May June Total

Cash Sales 30% $157,500 $160,500 $168,000 $486,000

Credit Sales 70% 400,000 367,500 374,500 1,142,000

Total $557,500 $528,000 $542,500 $1,628,000

Calculations:

a) Cash Sales for April = 30% of April Sales = 30% * $525,000 = $157,500. The difference of 70% is received in May.

b) Sales received on account for April = 100% of Accounts Receivable = $400,000.

c) Cash Sales for May = 30% of April Sales = 30% * $535,000 = $160,500. The difference of 70% is received in June.

d) Cash Sales for June = 30% of April Sales = 30% * $560,000 = $168,000. The difference of 70% is received in July.

To learn more about cash receipts visit the link

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3 0

2 years ago

Is unchopping tree possible?.(Unchopping Tree)

MArishka [77]

No it is not possible

8 0

4 years ago

Purchasing power parity (PPP): a. almost never holds completely. b. is as commonly accepted as the law of demand. c. is a reason

Ahat [919]

Answer:

The correct answer is letter "D": represents the universality of exchange rate systems.

Explanation:

Purchasing Power Parity or PPP compares different countries' currencies through a market's basket of goods approach. Two currencies are in PPP when a market basket of goods, taking into account the exchange rate is priced the same in both countries. PPP currency rates are considered more accurate than market-exchange rates.

4 0

3 years ago

In what order are the following financial statements prepared: (1) Balance sheet, (2) income statement, and (3) statement of sto

Marta_Voda [28]

Answer:

D.2, 3, 1.

Explanation:

The order of preparing the financial statement is described below:

1. Income statement

2. Statement of stockholder equity

3. Balance sheet

4. Cash flow statement

The income statement records all revenues generated and expenses incurred during a particular period.

The Statement of stockholder equity consists of common stock and the retained earning through which the ending balance could be computed.

The balance sheet reports the assets and liabilities of the company

And, the cash flow statement analyzes the cash inflow and cash outflow position of the company

6 0

3 years ago

Matthew manages the sales team at an information technology (IT) firm. His focus is to conduct business in accordance with his f

IgorLugansk [536]

Matthew manages the sales team at an information technology (IT) firm. His focus is to conduct business in accordance with his firm's mission and vision, while making as much money as possible for the firm and conforming to the basic rules of the society. He ensures that his actions embody ethical custom. In this scenario, Matthew's view of corporate social responsibility is most likely rooted in the <u>Utilitarian </u>tradition.

Explanation:

Utilitarianism is a ethical theory which talks about the right and the wrong actions of an individual.This theory advocates that the action that brings happiness to the society and also increases the utility in the society as a whole is called a morally correct action.

This theory was proposed by Jeremy Bentham and John Stuart Mill.

In simple words an action is termed as right if it promotes happiness in the society and is termed bad it it brings unhappiness in the society

So we can say that Matthew's view of corporate social responsibility is most likely rooted in the <u>Utilitarian </u>tradition.

8 0

3 years ago