672 deposited at the beginning of each quarter for 7 years; money earns 5% compounded monthly

Alpaca Corporation had revenues of $250,000 in its first year of operations. The company has not collected on $18,900 of its sal

Sever21 [200]

Answer:

$84,360.00

Explanation:

The cash balance at the end of the year is simply total cash receipts minus total cash payments which is further analyzed below:

Cash receipt from sales=total sales-accounts receivable=$250,000-$18,900=$ 231,100.00

Cash paid for merchandise purchase=purchases-accounts payable=$96,000-$27,000=$69,000

Salaries paid $12,700

Cash from owners is $14,000

cash from borrowing is $14,000

interest paid is $3800

insurance paid is $7,800

Tax paid=(sales-purchases-salaries paid-insurance cost(one year)-interest paid)*tax rate

insurance for one year=$7800*1/2=$3,900

tax paid=($250,000-$96,000-$12,700-$3,800-$3,900)*40%=$53440

Cash balance=$231,100-$69,000-$12,700+$14,000-$14,000-$3800-$7800-$53440=$84,360.00

4 0

3 years ago

On January 2, 20Y4, Whitworth Company acquired 40% of the

Gelneren [198K]

Answer:

Journal entries needed for:

a. Purchase of stock

b. Share of Aloof income

c. Dividend

d. Sale of Aloof company stock

a. Purchase of stock

Date Account Title Debit Credit

Jan 2, 20Y4 Investment in Aloof company $340,000

stock

Cash $340,000

b. Share of Aloof income

Date Account Title Debit Credit

Dec 31, 2024 Investment in Aloof company $72,000

stock

Income of Aloof Company $72,000

Working:

= 40% * 180,000 income

= $72,000

c. Dividend

Date Account Title Debit Credit

Dec 31, 2024 Cash $4,000

Investment in Aloof company $4,000

stock

Working:

= 40% * 10,000 dividend

= $4,000

d. Sale of stock

Date Account Title Debit Credit

Dec 31, 2024 Cash $405,000

Loss on sales of Aloof $3,000

company stock

Investment in Aloof company $408,000

stock

Working:

Value of stock = Purchase price + share of Aloof income - Share of dividend

= 340,000 + 72,000 - 4,000

= $408,000

6 0

2 years ago

Sheria has to evaluate whether she has enough in-house staff working on her project. What steps should she go through to compute

Sergio039 [100]

The answer is going to be A

6 0

3 years ago

Read 2 more answers

When we commit to students’ wellbeing and learning through the practice of positive influence, professional judgment and empathy

natulia [17]

Answer:

c. care and protection

Explanation:

The answer to this question is based on the framework of Ethical Standards for those pursuing a teaching profession. It involves four main values; care, respect, trust and integrity. This framework acts as a guide to educators on ethical ways to think, act and make decisions when serving students. Committing to students’ wellbeing and learning through the practice of positive influence, professional judgment and empathy in practice is part of care and protection.

4 0

3 years ago

A company has the following budgeted information: Cash receipts: $542,000; Beginning cash balance: $10,000; Cash payments (inclu

yKpoI14uk [10]

Answer:

Company A

In order to maintain the desired cash balance, the company will need to:

borrow $58,000

Explanation:

a) Data and Calculations:

Cash receipts: $542,000

Beginning cash balance: $10,000

Cash payments (including interest payments): $560,000

Outstanding loan balance: $100,000

Desired ending cash balance: $50,000

Beginning cash balance: $10,000

Cash receipts: $542,000

Cash available $552,000

Cash payments (including

interest payments): $560,000

Cash balance ($8,000)

Desired ending balance 50,000

Amount to borrow = $58,000

6 0

3 years ago