All categories

3 years ago

PA9.

Business

1 answer:

meriva3 years ago

3 0

Complete Question:

PA9.

LO 7.3 Fit band's estimated sales are:

OCTOBER 131,982

NOVEMBER 195,723

DECEMBER 249,283

JANUARY 124,298

FEBRUARY 124,284

MARCH 124,373

What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale?

Answer:

JANUARY FEBRUARY MARCH

Amount received from November sales 19,572

Amount received from December sales 62,321 24,928

Amount received from January sales 80,794 31,075 12,430

Amount received from November sales 31,071

TOTAL $162,687 $56,003 $43,501

Explanation:

The balances calculated are based on the following formula:

Amount received = Sales Figure of that month * Percentage

65% in the month of sale is received, 25% in the next month and the residual is received in the second month after sales

For the month of November:

65% of its total sales will be received in november, 25% in the next month(December) and the residual 10% in the second month after sale(January). Likewise for the month of January, we see in the computation that 65% of sales was received in the same month, 25% in the next month February and the residual 10% in the second after sale which is in March.

You might be interested in

George had a previous balance on his credit card of $330.19 on which he paid $50.00. He

Svetllana [295]

Since it’s a credit card you must subtract 330.19-50.00 = 280.19 then with the fine you add 280.19+4.20= 284.39. So the new balance is $284.39

3 0

3 years ago

Mustafa a friend of yours, plans to open a fashion boutique that will sell women’s clothing and accessories. He told you that he

blagie [28]

Answer: Financial Forecast

Explanation:

Forecast is a prediction of events that would happen in the future based on evidence of what's seen now or an assumption on projections.

While financial forecast is predicting how well a business will perform in the future through estimating future financial outcomes.

I would advise Mustafa to seek experts ideas on financial forecast for a new business and that would help him project his expectations

7 0

3 years ago

How does the format of a memo differ from that of an e-mail? please answer asap

aivan3 [116]

Answer: Memos omit a closing signature.

(I took the test and this was the answer)

5 0

3 years ago

You reflect on your meeting with the midwestern division manager, and you think part of the problem has to do with goals. what c

Anna35 [415]

The one that you could do to adress this is to Establish a system that provides each sales team member with specific, challenging sales goals and performance feedback from their store manager.
By doing this, not only we put a focus for each team members on the expectation toward them, we also could use the data collected by each determines to determine if there is someone that needed to be let go.

7 0

3 years ago

Assume that the fair values of the investee's net assets approximated the recorded book values of the investee's net assets, exc

Andrew [12]

Answer:

I could not find the exact details related to this question so here is a similar question to guide you.

Goodwill = Acquisition Price - Net book value (Investee)

= 75,000 - ( Assets - Liabilities)

= 75,000 - ( 90,000 - 40,000)

= $25,000

Identifiable noncurrent assets is overstated by $10,000 however. This will have to be adjusted for tax and then removed from Goodwill to find the Net goodwill that should be reported in the investor's consolidated balance sheet prepared immediately after this business combination.

= 10,000 ( 1 - 40%)

= $6,000

Net Goodwill = 25,000 - 6,000

8 0

3 years ago