Answer:
A) $160,000
Explanation:
To calculate Nichola's accounts receivable at the end of the current business cycle we have to add credit sales during the fifth and sixth months:
accounts receivables = $150,000 + $10,000 = $160,000
The credit sales made during the sixth month should be received during the seventh month and the credit sales made during the fifth month should be paid next year (in 9 months). Since the business cycle is only 6 months long, any credit sale that should be collected beyond the sixth month, should be included under accounts receivables.
Answer:
true
Explanation:
marketing professionals and managers share the same long term for the company
Answer and Explanation:
1. Interest Revenue $23,000
Sales Revenue $510,000
To Income Summary $533000
(Being closing of revenues accounts are closed)
2. Income Summary $453,000
To Sales returns $20,000
To Sales Discounts $7,000
To Cost Of goods sold $310,000
To Freight out $2,000
To Advertise Exp $15,000
To Interest Exp $19,000
To Salaries & Wages $55,000
To Utility $18,000
To Depreciation $7,000
(Being closing of expenses accounts are closed)
3. Income Summary $80,000
To Retained Earning $80,000
(Being profit is recorded)
4. Retained Earning $30,000
To Dividends $30,000
(Being closing of dividend is recorded)
Answer:
$178,000
Explanation:
Calculation for How much debt to achieve the target debt ratio
First step is to find the Target amount of debt using this formula
Target amount of debt =Target debt percentage ×Total assets
Let plug in the formula
Target amount of debt =55%× $660,000
Target amount of debt=$363,000
Second step is to calculate for the Change in the amount of debt outstanding using this formula
Change in amount of debt outstanding = Target debt -Old debt
Let plug in the formula
Change in amount of debt outstanding =$363,00-$185,000
Change in amount of debt outstanding =$178,000
Therefore How much debt to achieve the target debt ratio will be $178,000
