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
pochemuha
2 years ago
6

All of Gaylord Corporation's sales are on account. Thirty-five percent of the sales on account are collected in the month of sal

e, 45% in the month following sale, and the remainder are collected in the second month following sale. The following are budgeted sales data for the company: January February March April Total sales $50,000 $60,000 $40,000 $30,000 What is the amount of cash that should be collected in March
Business
1 answer:
elena-14-01-66 [18.8K]2 years ago
4 0

Answer:

$51,000

Explanation:

Given that,

Budgeted sales:

January = $50,000

February = $60,000

March = $40,000

April = $30,000

45% in the month following sale

35% of the sales on account are collected in the month of sale

Remainder are collected in the second month following sale.

Therefore,

Amount of cash that should be collected in March:

= (20% of January sales) + (45% of February sales) + (35% of March sales)  

= ($50,000 × 20%) + ($60,000 × 45%) + ($40,000 × 35%)

= $51,000

You might be interested in
Which of the following statements are TRUE?
Goryan [66]
D) Checkabe Deposits are assets for the bank
4 0
2 years ago
a large, family-owned dairy farm operating in the western part of virgina is preparing its annual tax return, and the cfo's obje
Schach [20]

Annual tax return is a document which states the income and expenses of a certain firm or individual and it is given to the tax department for further checking.

Depreciation expenses is the decrease in the cost of an asset that has appeared over a period of time because of its use. Any expense that is related to a certain asset is included to calculate the depreciation expense.

Depreciation expense: Cost of the asset - residual value/ total units expected to be produced * actual units produced

To learn more about depreciation expense, click here:

brainly.com/question/15024945?referrer=searchResults

#SPJ4



7 0
1 year ago
Read 2 more answers
Which form of currency is not backed by gold today? The form of currency no longer backed by gold is called money
Amiraneli [1.4K]
<span>
The form of currency that is no longer backed by gold is called money. The currency is not backed by gold because in 1971 people have became able to utilize </span><span>banknotes</span><span> as the only form of money. So, the money had no currency with any gold or silver backing and that is the reason why it is not backed.
</span>
3 0
3 years ago
Colleen and Judy purchased a dilapidated townhome in an estate sale. Due to their fix-up work and the current economy, the prope
liq [111]

Answer:

The correct answer is The covenant of warranty.

Explanation:

It is said that in this type of pact a public and peaceful possession must be written, which can be exercised so that it can be known by society. The possession of the property must be declared as continuous (that is, there can be no claim by the owner or the property is lost), and must be exercised as the legitimate owner before third parties.

5 0
3 years ago
Suppose that, during 2012, nominal GDP was $10,082 billion. During 2012, the value of the Consumer Price Index was 177.1 (using
erma4kov [3.2K]

<em>Answer</em>:

<u>5,692.83</u> 3.

Explanation:

($10,082 billion/177.1) x 100 = 5,692.83

Remember the real GDP takes into account the value of the total number of goods and services produced by a country in a given year, while taking the effect of inflation into account.

Because of inflation the consumer price index data is used in the calculation to find the change or deflation that has occurred.

5 0
3 years ago
Read 2 more answers
Other questions:
  • New investors may want to consider _______ funds, which are mutual funds that invest in one particular kind of stock or a partic
    13·1 answer
  • Why do people tend to eat more at all-you-can-eat buffet restaurants than at restaurants where each item is purchased separately
    10·1 answer
  • When auditors wish to issue an unmodied opinion but highlight that the entity changed its method of accounting forsoftware devel
    6·1 answer
  • Why are debit cards not listed as money?
    10·1 answer
  • On December 31, the company provides consulting services and bills its customer $3,000 for these services.
    8·1 answer
  • In November 2017, Treasury 4 1/2s of 2044 offered a semiannually compounded yield to maturity of 2.66%. Recognizing that coupons
    11·1 answer
  • Popular Company utilizes a calendar year as its fiscal year and depreciates plant assets using the straight-line method. On Janu
    12·1 answer
  • What is the measure of how much consumers will respond to price changes?
    10·1 answer
  • An office manager has received a report from a consultant that includes a section on equipment replacement. The report indicates
    14·1 answer
  • Refer to the above diagram of the market for corn. If the price in this market is $2 per bushel, then there will be? (The graph
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!