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Airida [17]
3 years ago
8

Ruiz Co.’s budget includes the following credit sales for the current year: September, $165,000; October, $156,000; November, $1

40,000; December, $177,000. Credit sales are collected as follows: 15% in the month of sale, 55% in the first month after sale, and 30% in the second month after sale. How much cash can the company expect to collect in December as a result of current and past credit sales?
Business
1 answer:
Minchanka [31]3 years ago
8 0

Answer:

$150,350

Explanation:

The computation of the cash collected in December is shown below:

Particulars          Sept          Oct           Nov           Dec

Sales                 $165,000      $156,000       $140,000        $177,000

Given percentage                        30%                 55%                 15%                      

December collection amount   $46,800          $77,000           $26,550

Total December collection                    $150,350

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Derk owns 250 shares of stock in Rose Corporation. The remaining 750 shares of Rose are owned as follows: 150 by Derk’s daughter
Mama L [17]

Answer:

720 shares

Explanation:

Given that,

Derk owns = 250 shares of stock in Rose Corporation

750 shares of Rose are owned as follows:

Derk’s daughter owns = 150

Derk’s aunt = 200

Shares in the partnership holding:

= 400 shares × Interest

= 400 shares × 80%

= 320 shares

Therefore,

Number of shares Derk owns in Rose Corporation:

= Own shares + Daughter's shares + Shares in the partnership holding

= 250 + 150 + 320

= 720

5 0
3 years ago
An aging of Bicycle Company's accounts receivable indicates that $20,000 is estimated to be uncollectible. If Allowance for Doub
V125BC [204]

Answer:

The adjustment to record bad debts for the period will be:

Debit Bad debt expense ($20,000 - $3,000)                    $17,000

Credit Allowance for doubtful accounts                            $17,000

<em>(Bad debt expense required)</em>

Explanation:

Bicylce Company adopts the aging of accounts receivable method. The aging of accounts receivable is a criterion for apportioning the balance in the accounts receivable into different buckets (aging), for example: Not due, 1 - 30 days, 30 - 60 days, over 60 days, based on historical information and assigning a credit loss percentage to each bucket.

Since the Allowance for Doubtful Accounts has a $3,000 credit, to calculate the required bad debt expense, we need to back out this amount from the amount that is deemed uncollectible, that is $20,000 - $3,000 = $17,000.

4 0
3 years ago
A firm with an A rating plans to issue one million units of a 10 year-4% bond with face value $100. After the financial crisis t
GenaCL600 [577]

Answer:

a)$103.309 million initially b)$83.309 million c)240070 bonds more

Here is the complete question:

A firm with an A rating plans to issue one million units of a 10 year-4% bond with face value $100. After the financial crisis this firm is downgraded to a B rating. The yield curve increases 0.2% per year. The yield for year 1 is y1=1%, for year 2 is y2=1.2%, y3=1.4% and so on and y10=2.8%. The default spreads are given in the table below.

(a) What is the initial amount (before downgrading) the firm wants to raise?

(b) How much can this now B rated firm raise?

(c) If the firm wants to raise the planned amount, how many more bonds does it issue?

Rating Default spread

AAA 0.20%

AA 0.40%

A+ 0.60%

A 0.80%

A- 1.00%

BBB 1.50%

BB+ 2.00%

BB 2.50%

B+ 3.00%

B 3.50%

B- 4.50%

CCC 8.00%

CC 10.00%

C 12.00%

D 20.00%

Explanation: The explanation is found in the attachment

8 0
3 years ago
On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 210,000 shares of $30 par common stock at $34,
adoni [48]

Answer:

Jan. 22

Dr Cash $7,140,000

Cr Common Stock $6,300,000

Cr Paid in capital in excess of par $840,000

Feb. 27

Dr Cash $180,000

Cr Preferred Stock $135,000

Cr Paid-In Capital in Excess of Par-Preferred $45,000

Explanation:

Preparation of the entries for January 22 and February 27.

Jan. 22

Dr Cash $7,140,000

(210,000*$34)

Cr Common Stock $6,300,000

(210,000*$30)

Cr Paid in capital in excess of par $840,000

($7,140,000-$6,300,000)

Feb. 27

Dr Cash $180,000

(15,000*$12)

Cr Preferred Stock $135,000

(15,000*$9)

Cr Paid-In Capital in Excess of Par-Preferred $45,000

($180,000-$135,000)

7 0
3 years ago
3. A project manager is trying to complete a software development project, but cannot get enough attention for the project. Reso
Hitman42 [59]

The form of organization must the project manager be working in Functional.

<h3>What is the meaning of organization?</h3>

Organization refers to the group of the people working together in order to achieve organizational goal. The aim of every organization is maximization of the profits.

In the above case, the project manager is trying to complete a software development project but is unable to get the attention on the project. all the resources are under completion of the different works.

This implies that form of organization must the project manager be working in Functional because he has little powers to make the use of the resources.

Learn more about the project here:

brainly.com/question/15999858

#SPJ1

7 0
1 year ago
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