Answer:
$248,000
Explanation:
Given that 20% of sales are for cash, Of the credit sales, 10% are collected during the month of sale, 30% in the following month, and 60% in the second following month. It means that credit sales is 80% of sales.
Cash collection for January will include 20% sales in January, 8% (10% * 80%) sales in January, 24% (30% *80%) sale in December and 48% (60% * 80%) of sales in November.
The forecasted amount of total CASH COLLECTIONS FROM SALES in January
= 20% * $200,000 + 8% * $200,000 + 24% * $400,000 + 48% * $200,000
= $40,000 + $16,000 + $96,000 + $96,000
= $248,000
Answer:
The approximate value of the house is 192984
Explanation:
I don't know what you mean by "<em>Use Exhibit 1-A</em>" but you can calculate this as follows
180000 * (1+1%)^7
The general formula of cumulative interest is
A * (1+i)^n
A = Amount
i = interest, in this case 1%
n = number of periods, in this case, 7
Answer:
$30,320
Explanation:
With regards to the above, the cost of the truck would be
= Cash price $26,470 + Sales tax $1,660 + Painting and lettering $2,190
= $30,320
Answer:
$4,800
Explanation:
The computation of the accumulated depreciation would Lidos report on the 2017 balance sheet is shown below:
= (Purchase value of new oven- estimated salvage value ) ÷ (expected useful life)
= ($15,000 - $3,000) ÷ (5 years)
= ($12,000) ÷ (5 years)
= $2,400
Now for 2017, the accumulated depreciation is
= Depreciation expense × number of years
= $2,400 × 2 years
= $4,800
