1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
miss Akunina [59]
3 years ago
14

Morgan Company's budgeted income statement reflects the following amounts:Sales Purchases ExpensesJanuary $ 120,000 $ 78,000 $ 2

4,000 February 110,000 66,000 24,200 March 125,000 81,250 27,000 April 130,000 84,500 28,600 Sales are collected 50% in the month of sale, 30% in the month following sale, and 19% in the second month following sale. One percent of sales is uncollectible and expensed at the end of the year.Morgan pays for all purchases in the month following purchase and takes advantage of a 3% discount. The following balances are as of January 1:Cash $ 88,000 Accounts receivable* 58,000 Accounts payable 72,000 *Of this balance, $35,000 will be collected in January and the remaining amount will be collected in February.The monthly expense figures include $5,000 of depreciation. The expenses are paid in the month incurred.Morgan’s expected cash balance at the end of February is:a.$87,000.b.$89,160.c.$92,000.d.$94,160.e.$113,300.
Business
1 answer:
Whitepunk [10]3 years ago
7 0

Answer:

 e.$113,300                                          

Explanation:

Download xlsx
You might be interested in
The Yurdone Corporation wants to set up a private cemetery business. According to the CFO, Barry M. Deep, business is "looking u
jenyasd209 [6]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

5 0
4 years ago
Inventory records for Dunbar Incorporated revealed the following:
Veseljchak [2.6K]

Answer:

a. $737.

Explanation:

The computation of the ending inventory using weighted average cost is shown below:

But before that first determine the average cost per unit

= (Beginning cost + purchase cost) ÷ (Beginning units + purchased units)

= (550 × $2.33 + 310 × $2.68) ÷ (550  units + 310 units)

= ($1,281.5 + $830.8) ÷ (860 units)

= $2.46

Now the ending inventory is

= (860 units - 560 units) × $2.46

= $737

5 0
3 years ago
A business cycle can indicate that an economy is in a recession if:
Drupady [299]

Answer:

C the economy remains in a contraction for two quarters.

Explanation:

A recession is a period characterized by a decline in the level of economic activities. A decrease in the GDP value indicates the slowing down of economic activities. Should be GDP value decline for two or more consecutive quarters, the economy is said to be in a recession. Slowing down or decline in economic activities is referred to as contraction.

During a recession, the level of unemployment rises, demand for goods and services reduces, and income levels also decline. Recessions usually last between six to eighteen months.  A prolonged recession results in depression.

3 0
3 years ago
When a research project includes the collection of biological samples, all planned future uses of the samples, identifiers, and
Mrac [35]
It is True, that all research that involves interaction or intervention with human samples and data a part of human subjects research.
4 0
4 years ago
What is the value of a firm with initial dividend Div 1​, growing for n years​ (i.e., until year n plus 1​) at rate g 1 and afte
finlep [7]

Answer:

stock price = (Div 1 / r - g1) x {1 - [(1 + g1) / (1 + r)]ⁿ}    +    (Div 1 / r - g2) x [(1 + g1) / (1 + r)]ⁿ⁻¹

Explanation:

since the company will first grow at g1 for n years, and then at g2 forever, we need to first determine the present value of the dividends growing at g1 for n years:

present value of the dividends during n = (Div 1 / r - g1) x {1 - [(1 + g1) / (1 + r)]ⁿ}

e.g. div = $2, n = 5 years, g1 = 8%, r = 12%

(2 / 12% - 8%) x {1 - [(1 + 8%) / (1 + 12%)]⁵} = 50 x 0.166263 = $8.31

now we find the formula to calculate the present value for the growing perpetuity g2 at n - 1 years:

= (Div 1 / r - g2) x [(1 + g1) / (1 + r)]ⁿ⁻¹

following the same example but changing g1 for g2, and g2 = 5%

= (2 / 12% - 5%) x [(1 + 5%) / (1 + 12%)]⁵⁻¹ = 28.5714 x 0.772476 = $22.07

we now add both parts to finish our example = $8.31 + $22.07 = $30.38

8 0
3 years ago
Other questions:
  • Support department cost allocation—comparisonBecker Tabletops has two support departments ( Janitorial and Cafeteria) and two pr
    12·1 answer
  • Banks Company sold merchandise on account for $35,000 with terms 2/10, n/30. The cost of goods sold was $27,600. If the invoice
    13·1 answer
  • Acer Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its mo
    12·2 answers
  • . It is your responsibility to do the following for your own protection, EXCEPT:
    9·2 answers
  • Insurance sales, tax preparation, personal financial advising, and investment fund management are careers in which
    12·2 answers
  • During 2022, Crane Company entered into the following transactions.
    11·1 answer
  • Work and/or assignments performed in a career are _____.
    8·1 answer
  • Nokia's dramatic operational change and demonstration of organizational adaptability in transforming their business from wood pu
    7·1 answer
  • If prices are rising, which inventory cost flow method will produce the lowest amount of cost of goods sold?.
    15·1 answer
  • Aggregation to qualify for a breakpoint is not available to: a a group of family members in the same household that aggregates i
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!