For the month of november, whetzel corporation. predicts total cash collections to be $1 million. also for november, whetzel cor
poration. estimates that its beginning cash balance will be $50,000 and that it will borrow cash in the amount of $70,000. if whetzel corporation. estimates an ending cash balance of $30,000 for november, what must its projected cash disbursements be
The projected cash disbursements for Whetzel Corporation for November is $1,090,000. This is calculated as follows: the beginning cash balance of $50,000 will be increased for the November cash collections of $1,000,000 and the cash borrowed of $70,000 (a cash inflow). This amount of total cash inflows would then be reduced by the total disbursements to get to the ending balance of $30,000. By subtracting the $30,000 ending balance from the above number we will get the total disbursements. See below: $50,000+$1,000,000+$70,000=$1,120,000 $1,120,000-$30,000=$1,090,000 Check: $50,000+$1,000,000+$70,000-$1,090,000=$30,000 (agrees to ending balance)
A prospectus is not required because the initial public offering happened 5 years ago
Explanation:
A prospectus is a legal document which is to be filled by Securities and Exchange Commission (SEC) that reflects the details with respect to the investment offering to the public in terms of stocks, bond, mutual funds, etc
On the other hand the initial public offering is the offering done by the company for the first time to the public related to the investment
Since in the question it is mentioned that the customer purchased the shares of stock but its initial public offering is done 5 years ago so no prospectus is required
GANTT refers to a chart that was developed by Henry L. Gantt, who was an american engineer and a social scientist, and is thus named after him. This chart is used to describe and illustrate various scheduled activities and the duration that each activity might take to complete. There is no full form for this word "GANTT". Therefore, the statement is false.
To record the journal entry to write off the uncollectible account according to the direct write-off method, we have to use bad dad expanse instead of an allowance account.
December 31 Bad Debt Expense Debit $1,200
Account receivable - Acme, Inc. Credit $1,200
Note: As the company did not get the money from the Acme, Inc., They treated the expense as irrecoverable.
A property is a belong of any person. The items would most likely be enforced by the forced sale of a property is judgment.
<h3>How are judgments been enforced?
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In terms of wages, a judgment creditor uses authorization from the court in a document. Due to this authorization, the judgment creditor directs the police to seize a portion of your wages. The police, in turn, notifies the person involved.
This is the same when it comes to property. A judgement by a court often stands in the sales of any property.
