Answer: $20,600
Explanation:
In calculating the amount of cash that should be reported in the balance sheet as of August 31, we add the deposits Outstanding because that is money that we are getting. We then subtract the checks Outstanding because that is money we are to pay. These are the 2 balances to be concerned with.
The cash balance will therefore be,
= Bank account balance + Deposit Outstanding - Checks Outstanding
= 22,800 + 2,000 - 4,200
= $20,600
$20,600 is the amount of cash that should be reported in the balance sheet as of August 31.
Answer:
$3.95
Explanation:
Stana incorporation has preferred stock outstanding that is sold at $100.28
The required return is 3.96%
Therefore the annual dividend can be calculated as follows
= 3.96/100.28
= 0.03948 × 100
= 3.95
Hence the annual dividend is $3.95
Answer:
Explanation:
Solution
Given that:
Flyer company provided the following information stated below:
Cash sales = $169,000
Thew Selling and administrative expenses = $129,000
Sales returns and allowances, =$49,000
Gross profit,=$509,000
Accounts receivable= $295,000
Sales discounts =$33,000
Allowance for doubtful accounts credit balance =$3,100
Now,
we find the balance in the allowance of the doubtful accounts
Thus,
Flyer company debt expense = 2.5%
The sales in credit is = $469,000
Thus,
We calculate both the bad debt expense for Flyer's company and it's credit sales of
which gives us this,
Flyers debt expense that is bad = 2.5% * $469,000
= $11.25
Answer:
The unit sales to attain the company's monthly target profit of $19,000 is closest to 6,548
Explanation:
Units required to achieve a target sale must first cover the fixed cost (break even) then once the fixed costs are covered the extra units would meet the target profit.
<em>Units for Target Profit = (Fixed Cost + Target Profit)/Contribution per unit</em>
= ($ 429,490+ $19,000) / ($ 160.00 - $ 91.50)
= $ 448,490/ $68.50
= 6547.29927
= 6,548