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
a_sh-v [17]
3 years ago
8

A company began its operations on April 1 of the current year. Budgeted sales for the first three months of business are $250,00

0, $320,000, and $410,000, respectively, for April, May, and June. The company expects to sell 50% of its merchandise for cash. Of sales on account, 60% are expected to be collected in the month of the sale, 40% in the month following the sale. The budgeted cash collections in May are:
Business
1 answer:
Mariana [72]3 years ago
8 0

Answer:

Total cash collection May= $306,000

Explanation:

Giving the following information:

Sales:

April= $250,000

May= $320,000

June= $410,0000

The company expects to sell 50% of its merchandise for cash. Of sales on account, 60% are expected to be collected in the month of the sale, 40% in the month following the sale.

<u>Cash collection May:</u>

Sales on cash May= 320,000*0.5= 160,000

Sales on Account May= (160,000*0.6)= 96,000

Sales on Account April= (250,000*0.5)*0.4= 50,000

Total cash collection May= $306,000

You might be interested in
Telcom owns a phone network and provides phone network services to many consumers
arlik [135]
Bdndkdjjenejkekdkkdkdjjdkdkk
6 0
3 years ago
In June 2017, Bill, a single taxpayer, purchased a home for $187.000. Later that year, he added a new room at a cost of $28,400.
zubka84 [21]

Answer:

Gain on sale= $257600

Explanation:

According to IAS 16 (property plant and equipment), the initial measurement of non-current asset is at cost. The cost includes the purchase price and all other directly attributable costs incurred to bring the non-current asset to it's desired location and intended use.

IAS 16 also requires that any subsequent expenditures incurred should either be expensed out if expenditures classify as Revenue expenditure and should be capitalized in the cost of the non-current asset if expenditures classify as Capital Expenditures. In Bill's case, addition of a new room in the existing home structure is an expenditure that classifies as a capital expenditure. Hence cost of the new room will be capitalized in to the cost of the home.

So the book value of Bill's home is = $187000 + $28400

BV of bills home= $215400

Sales proceeds from the sale of the home = $473000

Gain on sale= Sales proceeds - book value

Gain on sale= $473000 - $215400

Gain on sale=257600

7 0
4 years ago
Vocabulary Word
77julia77 [94]

Answer:

Explanation:

A tool for organizing important  information about the competition.

competitive matrix

Those most likely to buy your products  and services

target customers

The distribution channel through which  your product or service flows from the  producer to the customer. value chain

A distinct aspect, quality, or characteristic  of a product or service

feature

Something that promotes or enhances the  value of the proctor service to the  customer. benefit

A group of businesses with a common  interest, such as financial services,  computers, retail, or groceries. industry

End-users of the service. Beneficiaries

Working model of a new product.  Describes how you intend to create and

capture value with your business concept. prototype

4 0
3 years ago
The gasoline tax:
jenyasd209 [6]

Answer:

a. can be viewed as a corrective tax aimed at multiple negative externalities associated with driving.

Explanation:

The gasoline tax can be considered a corrective tax aimed at multiple negative externalities associated with driving.

6 0
3 years ago
Corporation has 400 obsolete TV monitors that they carry in their inventory at a total cost of $576,000. If these monitors are u
schepotkina [342]

Answer: $403 per calculator

Explanation:

Assume the selling price is x.

400 calculators.

Upgrading them would cost $150,000 but if sold in present condition would fetch $11,200.

Expression would be;

400x - 150,000 = 11,200

400x = 161,200

x = 161,200/400

x = $403 per calculator

5 0
3 years ago
Other questions:
  • In January, 2021, Summit Department Store sells a gift card for $50 and receives cash. In February, 2021, the customer comes bac
    11·1 answer
  • Which of the following is a benefit of direct and digital marketing for​ buyers?
    8·1 answer
  • Freeman​ Motors, a motorcycle​ manufacturer, had the following contingencies. Determine the appropriate accounting treatment for
    5·1 answer
  • A ________ rate means the value of the currency is fixed relative to a reference currency and then the exchange rate between tha
    12·2 answers
  • What are 6 major forms of direct marketing?
    9·1 answer
  • Danielle has decided to work with an organization that helps soldiers deployed overseas. The opportunity she chooses is writing
    14·2 answers
  • Pacific Company starts the year with a beginning inventory of 3,700 units at $5 per unit. The company purchases 5,700 units at $
    7·1 answer
  • Would you expect that the interest rate on a corporate bond would be higher or lower than the rate on a municipal bond of compar
    8·1 answer
  • 1. Max Leonard, vice president of Marketing for Dysk Computer, Inc must decide whether to introduce a mid-priced version of the
    11·1 answer
  • Which of these is not one of the three uses of money?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!