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Deffense [45]
3 years ago
12

Thomas & Cooke Corporation has the following sales forecasts for the first three months of the current year: Month Sales Jan

uary $39,000 February 26,000 March 45,000 85% of sales are collected in the month of the sale and the remainder is collected in the following month. Accounts receivable balance (January 1) $25,800 Cash balance (January 1) 25,000 Minimum cash balance needed 22,000 What is the cash balance at the end of January, assuming that cash is received only from customers and that $50,000 is paid out during January?

Business
1 answer:
Nutka1998 [239]3 years ago
8 0

Answer:

$33950

Explanation:

See attached picture.

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On March 15, Viking Office Supply agrees to accept $1,200 in cash along with a $2,800, 60-day, 15 percent note from one of its c
Rzqust [24]

Answer:

Cash debit 1,200

Note Receivable debit 2,800

Account Receivable credit 4,000

Explanation:

The accounting will reflect the receipt of cash and the note at their principal.

The interest of the note will ge accrued with the past of time. Currently no interest was earned, so we don't have to post anything related to the interest of the note.

We just write-off the account receivable of the customer and declare how we settle.

6 0
3 years ago
Beginning merchandise inventory would be found on the worksheet in the
mrs_skeptik [129]
<span>A. income statement debit column</span>
6 0
3 years ago
Read 2 more answers
The common stock of the C.A.L.L. Corporation has been trading in a narrow range around $95 per share for months, and you believe
miv72 [106K]

Answer:

The price of 3 months call option on stock is 8.03.

Explanation:

Acording to the details we have the following:

P = Price of 3-months put option is $6

So = Current price is $95

X = Exrecise price is $95

r = Risk free interest rate is 9%

T = Time is 3 months=1/4

C=Price of call option?

Hence, to calculate what must be the price of a 3-month call option on C.A.L.L. stock at an exercise price of $95 if it is at the money, we have to use the formula from put-call parity.

C=P+So-<u>     X    </u>

                (1+r)∧T

C=$6+$95-  ( <u>$95      )</u>

                     (1+0.09)∧1/4

C=$6+$95-$92.97

C=8.03

The price of 3 months call option on stock is 8.03

5 0
3 years ago
Compared to traditional nonprofit startups, enterprising nonprofits are far less likely to survive in business after the first f
mash [69]

Compared to traditional nonprofit startups, enterprising nonprofits are far less likely to survive in business after the first five years: FALSE

<h3>Traditional nonprofit startups and enterprising nonprofits startups:</h3>
  • Enterprising Non-Profits, or enp, is a one-of-a-kind collaborative program that encourages and supports the establishment and growth of social enterprises as a means of building successful non-profit organizations and healthier communities.
  • A tax-exempt organization created for religious, charitable, literary, artistic, scientific, or educational objectives is known as a non-profit enterprise.
  • It is a corporation from which the shareholders or trustees do not profit financially.
  • Most organizations qualify for one of the three primary categories, which include public charities, private foundations, and private running foundations.
  • Unlike traditional nonprofit starts, enterprising nonprofits are considerably more likely to survive after the first five years.

As it is given in the description itself, unlike traditional nonprofit starts, enterprising nonprofits are considerably more likely to survive after the first five years.

Therefore, the statement "compared to traditional nonprofit startups, enterprising nonprofits are far less likely to survive in business after the first five years" is FALSE.

Know more about Enterprising Non-Profits here:

brainly.com/question/3843195

#SPJ4

Complete question:

Compared to traditional nonprofit startups, enterprising nonprofits are far less likely to survive in business after the first five years. TRUE or FALSE

6 0
2 years ago
On May 1, 2021, Meta Computer, Inc., enters into a contract to sell 5,500 units of Comfort Office Keyboard to one of its clients
madam [21]

Answer:

A. 2

B. May 1, 2021

Dr Cash $94,600

Cr Deferred revenue $89,870

Cr Deferred revenue-coupons $4,730

C. May 1, 2021

Dr Cash $94,600

Cr Deferred Revenue $94,600

Explanation:

A. Based on the information given the numbers of PERFORMANCE OBLIGATIONS that are in this contract is 2 which are:

KEYBOARD and CUSTOMER OPTION FOR FUTURE DISCOUNT

B. Preparation of the journal entry that Meta would record on May 1, 2021.

May 1, 2021

Dr Cash $94,600

Cr Deferred revenue $89,870

($94,600-$4,730)

Cr Deferred revenue-coupons $4,730

(5%*$94,600)

C. Preparation of the journal entry that Meta would record on May 1, 2021

May 1, 2021

Dr Cash $94,600

Cr Deferred Revenue $94,600

8 0
3 years ago
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