Cave Hardware's forecasted sales for April, May, June, and July are $150,000, $250,000, $100,000, and $290,000, respectively. Sa
dmitriy555 [2]
Answer:
$160,000
Explanation:
The computation of budgeted cash payments in June is shown below:-
For computing the budgeted cash payments in June first we need to find out the may credit sales and June cash sales.
May credit Sales = May = $250,000 × 40% × 100%
= $100,000
and
June cash sales = $100,000 × 60%
= $60,000
Cash collection budgeted June = May credit Sales + June cash sales
= $100,000 + $60,000
= $160,000
Complete Question:
An important basic characteristic of common stocks that makes them a suitable type of investment for the separate account of variable annuities is:
Group of answer choices
A) the safety of the principal invested.
B) changes in common stock prices tend to be more closely related to changes in the cost of living than changes in bond prices.
C) the yield is always higher than mortgage yields.
D) the yield is always higher than bond yields.
Answer:
B) changes in common stock prices tend to be more closely related to changes in the cost of living than changes in bond prices.
Explanation:
An important basic characteristic of common stocks that makes them a suitable type of investment for the separate account of variable annuities is changes in common stock prices tend to be more closely related to changes in the cost of living than changes in bond prices.
Generally, common stocks are considered by financial experts or broker-dealers to be a suitable type of investment of variable annuities because the prices of common stocks in the market are not fixed and as such they are affected by economical changes such as inflation or recession.
Answer:
The current ratio is 1.18 times
Explanation:
Current Ratio: The current ratio is that ratio which shows a relationship between the current assets and the current liabilities
The computation of the current ratio is shown below
Current ratio = Total Current assets ÷ total current liabilities
where,
Total current assets = Cash + short-term investments + net accounts receivable + merchandise inventory
= $43,500 + $27,000 + $102,000 + $125,000
= $297,500
And, the total current liabilities is $251,000
Now put these values to the above formula
So, the ratio would equal to
= $297,500 ÷ $251,000
= 1.18 times
The long term note payable is not a current liabilities,hence it is not considered in the computation part.
Answer:
Dr Bond investment $50,000
Cr cash $50,000
Dr cash $1,250
Cr interest revenue $1,250
Dr cash $50,000
cr bond investment $50,000
Explanation:
On July 1 2019,Red company would have parted with cash of $50,000 which means that cash account should be credited with $50,000 while bond investment account is debited with same amount
On receipt of first interest payment of $1,250 (5%*$50,000*1/2) cash is debited with $1,250 while interest revenue is credited with the same amount.
Upon receipt of face value at redemption,the journal entry would be opposite of the initial one
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