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Alborosie
3 years ago
8

Trumbull Company budgeted sales on account of $120,000 for July, $211,000 for August, and $198,000 for September. Collection exp

erience indicates that 60% of the budgeted sales will be collected the month after the sale, 36% will be collected the second month, and 4% will be uncollectible. The cash receipts from accounts receivable that should be budgeted for September would be
Business
1 answer:
Andreyy893 years ago
5 0

Answer:

Total cash receipts              194,760

Explanation:

We will calculate base on the budget number provided.

We will multiply the month sales revenue by the amount expected to be colelcted on september

The receipts from account receivable on september:

<u>60% of previous month:</u>

60% of August: 198,000  =  118,800

<u>36% from the second month:</u>

36% of July: 211,000        = <u>  75,960  </u>

Total cash receipts              194,760

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Grant Appraisal Service provides commercial and industrial appraisals and feasibility studies. On January 1, the assets and liab
Reil [10]

Answer:

attached table

Explanation:

for each transaction the acouting equation stand

As the sum ofthe three assets account is the same as the two liabiltiies account and the two equity account.

The revenues and expenses account were posted directly into retained earnings for the purpose of simplify the table.

<u>The expese account if needed to expand the table would be:</u>

(1) rent expense, (8)utilities expense, (11) interest expense and salaries expense (7) and (9)

5 0
3 years ago
Maren received 10 NQOs (each option gives her the right to purchase 8 shares of stock for $8 per share) at the time she started
bonufazy [111]

Answer:

Option (b) is correct.

Explanation:

Sale of share = NQOs received × No. of shares × Selling price per share

                      = 10 × 8 × $22

                      = $1,760

Gain realised:

= Sale of share - Basis

= $1,760 - [NQOs received × No. of shares × Selling price per share at $15]

= $1,760 - [10 × 8 × $15]

= $1,760 - $1,200

= $560

Tax paid = Gain realised × preferential rate

               = $560 × 15%

               = $84

6 0
3 years ago
What are the activities of Facility Management?
Afina-wow [57]

Answer:

Managing a facility

Explanation:

8 0
3 years ago
Skolits Corp. issued 10-year bonds 2 years ago at a coupon rate of 8.7 percent. The bonds make semiannual payments. If these bon
kykrilka [37]

Answer:

7.36%

Explanation:

Nper = (10-2)*2 = 16

Pmt = 1000*8.7%/2 = 43.5

Pv = -108%*1000 = -1080

Fv = 1000

YTM = Rate(Nper, pmt, -Pv, Fv)*2

YTM = Rate(16, 43.5, -1080, 1000)*2

YTM = 0.036795696 * 2

YTM = 0.073591392

YTM = 7.3591392%

YTM = 7.36%

6 0
2 years ago
Annuity payments are assumed to come at the end of each payment period (termed an ordinary annuity). However, an exception occur
o-na [289]

Answer:

The future value of a 18-year annuity of $2,000 per period where payments come at the beginning of each period is $59,078.

Explanation:

We apply the formula to calculate future value of annuity to find the future value of 18-year annuity as at the beginning of year 18 ( because payment comes at the beginning of the year):

2,000/5% x (1.05^18 -1) = $56,264.77.

We further compound the future value of 18-year annuity as at the beginning of year 18 for one period to come up with the future value of this annuity as at the end of 18 year time:

56,264.77 x 1.05 = $59,078.

So, the answer is $59,078.

3 0
3 years ago
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