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
Vitek1552 [10]
3 years ago
15

ABC Company expects the following sales and collection pattern for the last 4 months of the year. Month Cash Sales Credit Sales

Total Sales September $25,000 $65,000 $90,000 October $28,000 $72,000 $100,000 November $26,000 $68,000 $94,000 December $30,000 $71,000 $101,000 • 5% of credit sales are collected in the same month. • 65% of sales are collected in the following month. • 25% of sales are collected in the second following month. What are the projected cash collections for the month of December?
Business
1 answer:
Scrat [10]3 years ago
5 0

Answer:

<u>The projected cash collections for the month of December is $ 65,750. </u>

Explanation:

Projected cash flows for the month of December = 25% of october credit sales + 65% of November credit sales

5% of December credit sales

= (72000*25%) + (68000*65%) + (71000*5%)

= $ 65,750.

 Total percentage as per given question, is only 95% but not 100%.

Also, credit sales collections upto second following month of Actual date of sale. So, september month sale  is not considered.

You might be interested in
A finance lease agreement calls for quarterly lease payments of $4,625 over a 15-year lease term, with the first payment on July
love history [14]

Answer:

The Lease amortization schedule is attached in pdf format with this answer please find.

Explanation:

Lease payments, includes the payment of interest and principal as well. The interest is calculated for the period opening balance of lease and the residual amount of lease payment and interest is settled against the lease amount.

Download pdf
3 0
3 years ago
the market value of the equity of Ginger, Inc., is $710,000. The balance sheet shows $45,600 in cash and $227,800 in debt, while
KengaRu [80]

Answer:

3.34 times

Explanation:

Ginger incorporation has a market valu of equity of $710,000

The debt is $227,800

Cash is $45,600

EBIT is $102,800

The first step is to find the enterprise value

= market capitalization + debt -cash

= $710,000 +$227,800 - $45,600

= $937,800-$45,600

= $892,200

The EBITDA can be calculated as follows

= EBIT + depreciation and amortization

= $102,800 + $164,600

= $267,400

Therefore the enterprise value-EBITDA can be calculated as follows

= 892,200/267,400

= 3.34 times

7 0
3 years ago
Portions of the financial statements for Parnell Company are provided below. PARNELL COMPANY Income Statement For the Year Ended
m_a_m_a [10]

Answer:

Net Cash flow from Operating Activities (Direct Method) = $343

Net Cash flow from Operating Activities (Indirect Method) = $343

Explanation:

Cash Flow Statement - Operating Activities  (Direct Method)  

                                                                              Amount in $

Cash receipts from Customer (219+770-321)            668

Less: Cash paid to suppliers (120+285-207-98)       -100

Cash paid Employees (96+117-108)                       -105

Cash Paid to Insurance (69+37-85)                            -21

Cash Generated from operation                               442

Less: Interest paid (47-19)                                        -28

Income tax paid (55+82-66)                                        -71

Net Cash flow from Operating Activities              343

Cash Flow Statement - Operating Activities  (Indirect Method)  

                                                                              Amount in $

Net Income                                                                   82

Add: Depreciation Expenses                                      120

Loss on sale of Machinery                                         12

Decrease in Inventory (422-324)                               98

Increase in Account payable (207-120)                 87

Increase in salaries payable (108-96)                           12

Decrease in prepaid Insurance (69-85)                  16

Decrease in Bond Discount (184-203)                         19

Increase in Deferred Tax Liabilities (66-55)         11

Less: Gain on sale of Building                              -12

Increase Accounts receivable (321-219)             -102

Net Cash flow from Operating Activities             343

6 0
3 years ago
Overall, the most effective and efficient analgesics are
Marianna [84]
Overall, the most effective and efficient analgesics are the narcotics. Narcotics are analgesic compounds that have  sleep-inducing properties.They are referred to as opiates and opioid analgesics, because of their opatic property. Narcotics result in p<span>ain relief, narcosis  and addiction (physical dependence on the drug).</span>
8 0
3 years ago
An auction house charges a commission of 15% on the first $50,000 of the sale price of an item, plus 10% on the amount of of the
yKpoI14uk [10]

Answer:

C. $215,000

Explanation:

The statement indicates that on the first $50,000 the auction house charges 15%, which means that for the first $50,000 the house charged:

$50,000*0,15%= $7,500

From the total commission of $24,000, $7,500 were for the first $50,000.

$24,000-$7,500= $16,500

Now, you have to determine the amount in excess of $50,000 from which the house charged the remaining $16,500. So, you have that an x amount multiplied for 10% or 0,10 is equal to $16,500:

x*0,10= 16,500

x= 16,500/0,10= 165,000

You have determined that the house charged $7,500 on the first $50,000 and $16,500 on $165,000 which means that the price of the painting is:

$50,000+$165,000= $215,000

7 0
3 years ago
Other questions:
  • During risk management activities, 236 risks have been identified which are caused by 13 root causes. You could eliminate 234 ri
    9·1 answer
  • Lesley Torres is a project manager for the campaign​ "Action against Deforestation in​ Indonesia." She recently faced a glitch w
    8·1 answer
  • Winners of the Georgia Lotto drawing are given the choice of receiving the winning amount divided equally over 2222 years or as
    11·1 answer
  • Calculating the average time callers wait on the phone for technical support is an example of inferential statistics.A. TrueB. F
    9·1 answer
  • Do you think Instagram’s main goal is to connect you with friends and family or brands? Why?
    7·1 answer
  • Cobe Company has already manufactured 17,000 units of Product A at a cost of $20 per unit. The 17,000 units can be sold at this
    7·1 answer
  • The stock of North American Dandruff Company is currently selling at $80 per share. The firm pays a dividend of $2.50 per share.
    15·1 answer
  • During the late 1990s, a lot of big animation companies started to move away from the traditional hand-drawn animation and towar
    12·1 answer
  • You are sitting around the fire at a lodge in Dillingham, Alaska, discussing a fishing expedition you are planning with your col
    9·1 answer
  • 5 importance of communication​
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!