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
kirill115 [55]
3 years ago
10

Problem 14-17 Preparing a sales budget and schedule of cash receipts LO 14-2 Benson Pointers Corporation expects to begin operat

ions on January 1, 2019; it will operate as a specialty sales company that sells laser pointers over the Internet. Benson expects sales in January 2019 to total $290,000 and to increase 20 percent per month in February and March. All sales are on account. Benson expects to collect 66 percent of accounts receivable in the month of sale, 20 percent in the month following the sale, and 14 percent in the second month following the sale. Required Prepare a sales budget for the first quarter of 2019. Determine the amount of sales revenue Benson will report on the first 2019 quarterly pro forma income statement. Prepare a cash receipts schedule for the first quarter of 2019. Determine the amount of accounts receivable as of March 31, 2019.
Business
1 answer:
choli [55]3 years ago
8 0

Answer:

Total collected during the quarter $ 864,896

jan       $ 191,400

Feb     $ 287,680

March $ 385,816

Explanation:

We sovle for the amount colelcted on each period according to the budgeted amount in the sales department

\left[\begin{array}{ccccc}&$January&$February&$March&$Quarter Total\\\\$Sales&290,000&348,000&417,600&1,055,600\\\\\\$Current Month&191,400&229,680&275,616&696,696\\$Previous&&58,000&69,600&127,00\\$two months &&&40,600&40,600\\$Total&191,400& 287,680&385,816&864,896\\\end{array}\right]

You might be interested in
Bradley is sitting on his porch enjoying his very large front yard and drinking a lemonade when chris, a kid from down the stree
Anestetic [448]
<span>Chris may be able to recover money from the courts on the basis of quasi contract. A quasi contract is an obligation of one party to another imposed by law independently of an agreement between the parties.</span>
3 0
3 years ago
The risk-free rate is 2.2 percent and the market expected return is 11.9 percent. What is the expected return of a stock that ha
zepelin [54]

Answer:

the expected return of a stock is 10.542%

Explanation:

The computation of the expected return on a stock is shown below:

Expected return on stock is

= Risk free rate + beta × (market rate of return - risk free rate)

= 2.2% + 0.86 × (11.9% - 2.2%)

= 2.2% + 0.86 × 9.7%

= 2.2% + 8.342

= 10.542%

hence, the expected return of a stock is 10.542%

We simply applied the above formula so that the correct value could come

And, the same is to be considered

5 0
3 years ago
Describe the parliamentary meeting procedure and its purpose.
Sati [7]

Answer: Only one issue is discussed at a time

Members have equal and basic rights (vote, oppose and heard)

Minority rights are protected

Explanation:

The parliamentary meeting procedure is as follows;

- Only one issue is discussed at a time

- Members have equal and basic rights (vote, oppose and heard)

- Minority rights are protected

- The chairman authorizes anyone to speak

- The chairperson is impartial.

- Votes decides decisions

- Every member on the floor can contribute

The purpose;

They are rules to ensure businesses are operated in the right order

6 0
3 years ago
Increasing the reserve requirement is a powerful _____ weapon that reduces the overall supply of money.
cestrela7 [59]
Increasing the reserve requirement is a powerful ANTI INFLATION weapon that reduces the overall supply of money.
In order to reduce the amount of money in an economy, the federal reserve can increase the reserve requirements of the commercial banks in the economy. This will reduce the amount of money that the banks can give out as loan and this will work to prevent inflation.
3 0
3 years ago
How can you solve circle geometry in a simple way​
lisabon 2012 [21]

Answer: by using the formula A=pi(3.14) R(radius) squared

Explanation:

Hope that helped

8 0
3 years ago
Read 2 more answers
Other questions:
  • Partially correct answer iconYour answer is partially correct. This information relates to Windsor Co.
    13·1 answer
  • Hotwax makes surfboard wax in a single operation. This period, Hotwax purchased $62,000 in raw materials. Its production departm
    13·1 answer
  • Revenues that are legally restricted for expenditure on specified operating purposes should be accounted for in special revenue
    12·1 answer
  • Though the trade and sale of slaves continued to be legal inside the United States until the Civil War, the "slave trade"—that i
    14·1 answer
  • one reason a company might prefer FDI over exporting. presence or threat of trade barriers costs of acquiring a foreign enterpri
    5·1 answer
  • One of Hartman Company's activity cost pools is inspecting, with estimated overhead of $140,000. Hartman produces throw rugs (70
    15·1 answer
  • Walker Clothing Store has a balance in the Accounts Receivable account of $390k at the beginning of the year and a balance of $4
    8·1 answer
  • What does "Certeris Paribus" assume when
    13·1 answer
  • How the business can use creative thinking to solve the problem​
    15·2 answers
  • in the gilded age, how did monopolies affect many small businesses? monopolies helped small businesses grow.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!