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
Pavlova-9 [17]
3 years ago
9

Indigo Corporation significantly reduced its requirements for credit sales. As a result, sales during the current year increased

dramatically. It had receivables at the beginning of the year of $35,100 and ending receivables of $196,800. Credit sales were $361,800.
(a) Determine cash collections during the period.

(b) Cash collections during the period $
Business
1 answer:
zhuklara [117]3 years ago
8 0

Answer:

(a) $200,100

(b) $200,100

Explanation:

The movement in the accounts receivable balance at the start and end of an accounting period is due to cash payments, additional credit sales, and any amount written off during the period.

This may be expressed mathematically as  

opening balance + sales - cash collected - amount written off = closing balance

$35,100 + $361,800 - cash collected = $196,800

Cash collected = $35,100 + $361,800 - $196,800

= $200,100

You might be interested in
Lauren plans to deposit $5000 into a bank account at the beginning of next month and $175/month into the same account at the end
Serhud [2]

Answer:

$12,053.86

Explanation:

The easiest way to calculate this is using an excel spreadsheet and the future value function. Using the FV function =FV(rate,nper,pmt)

  • rate = 3%/12 = 0.25%
  • nper = 36
  • pmt = 175

This function will give us the future value of the annuity =FV(0.25%,36,175) = $6,583.60

Now we must add the future value of the original $5,000:

future value = $5,000 x (1 + 0.0025)³⁶ = $5,470.26

total future value = $6,583.60 + $5,470.26 = $12,053.86

if you do not want to use an excel spreadsheet, you can use the following formula:

F = P x ([1 + r]ⁿ - 1 )/r

F = 175 x [(1 + 0.0025)³⁶ - 1] / 0.0025 = $6,583.60

the answer will be the same

3 0
3 years ago
You have decided to buy a used car. The dealer has offered you two options: (FV of S1, PV of $1, FVA of $1, and PVA of $1) (Use
Pachacha [2.7K]

Answer:

1-a.

in order to determine the present value of option a we can look for the PVIFA (annuity factor) for 24% / 12 = 2% monthly rate and 25 payments.

PVIFA = 19.523

Present value of the 25 payments = $540 x 19.523 = $10,542.42

+

Present value of final payment = $10,000 / (1 + 24%)²⁵/¹² = $6,388.10

PV = $16,930.52

Present value of option b = $16,638

1-b.

  • b. option b (lower present value)
5 0
2 years ago
As described in your text, Brown and Finn (1982) found that attitudes regarding alcohol were somewhat different for 12-year-olds
Leno4ka [110]

Answer:

Option "A" is the correct answer to the following statement.

Explanation:

Cross-sectional observational estimates are based on findings with Various data that exist in various groups in the same period. This indicates that there was no other procedure wad made, so no factors are influenced by the analyst.

In this situation, there were various age groups involved in the Experiment at the same time.

8 0
3 years ago
Synovec Corporation is expected to pay the following dividends over the next four years: $6.60, $17.60, $22.60, and $4.40. After
Alexandra [31]

Answer: $245

Explanation:

If the required return on the stock is 7 percent, the current share price would be calculated as:

= 6.60/1.07 + 17.60/1.07^2 + 22.60/1.07^3 + 4.40/1.07^4 + [(4.4 × 1.0525) / (7%-5.25%)] / 1.07^4

= $245.23

= $245 approximately

Therefore, the current share price will be $245

3 0
3 years ago
Im bored who wanna talk im hella cool and lowkey chill ;)
N76 [4]

Answer:

GO BACK TO CLASS

Explanation:

dude

3 0
3 years ago
Read 2 more answers
Other questions:
  • Z-Mart uses the perpetual inventory system and allows customers to use the Z-Mart store credit card in charging purchases. Z-Mar
    11·1 answer
  • Alan induces beth to enter into a contract for the purchase of a chef's burger house restaurant. alan knowingly misrepresents a
    15·1 answer
  • When preparing for a business trip to China, Kaylee Putbrese determined she needed to bring $5,200. How much must she borrow for
    6·2 answers
  • If an arbitrageur can borrow up to $1,000,000 (or CD1,250,000), formulate a covered interest arbitrage. Make sure to explain you
    9·1 answer
  • Which of the styles on Blake and Mouton’s Leadership Grid has high concern for interpersonal relationships and low concern for t
    11·1 answer
  • Which of the following would lead to an increase in the demand for golf balls?
    10·1 answer
  • Treasury bonds paying an 8% coupon rate with semiannual payments currently sell at par value. What coupon rate would they have t
    5·1 answer
  • Electronic Wonders reports net income of $96,500. The accounting records reveal Depreciation Expense of $50,200 as well as incre
    8·1 answer
  • The Following 4. Journal sita ram Started business RS 50,000 andbank 100,000 with deposit​
    5·1 answer
  • What are capital gains on an investment.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!