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expeople1 [14]
2 years ago
9

Pasadena Candle Inc. pays 40% of its purchases on account in the month of the purchase and 60% in the month following the purcha

se. Purchases are budgeted to be $40,000 for August and $36,000 for September. Prepare a simple cash budget for Pasadena Candle Inc. Pasadena Candle Inc. Schedule of Cash Payments for Purchases For the Mont Ending September Payments for August purchases Payments for September purchases?
Business
1 answer:
garri49 [273]2 years ago
5 0

Answer:

Explanation:

Cash budget for Pasadena Candle Inc.

Month                Purchased          Paid    

August               $40,000             $16,000

September        $36,000             $38,400

Calculations:

Month ending payment in September = 60 % x August purchases + 40 % x September purchases  = 0.60 x $ 40,000 + 0.40 x $ 36,000

 = $ 24,000 + $ 14,400 = $ 38,400

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Suppose the demand function​ (D) for golf clubs​ is: Qequals150minus1.00​P, where P is the price paid by consumers in dollars pe
nadya68 [22]

Answer:

P = $75 per club

n= 75,000 clubs

Explanation:

The demand and supply functions are:

(D): Q=150-1.00P\\(S): Q=1.00P\\

The equilibrium price is the price that yields a quantity demanded equal to the quantity supplied:

150-1.00P=1.00P\\P=\frac{150}{2}\\P=\$75

The number of units sold at that price is:

n=1,000*(1.00*75)\\n=75,000\ units

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Professionalism is a skill necessary for......
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3 years ago
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The limited liability of a stockholder in a closely-held corporation may be challenged successfully if the stockholdera. Underca
lina2011 [118]

Answer:

The correct Option is A

Explanation:

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3 years ago
A social responsibility theory of business according to which a corporation's duty is to make a profit while avoiding causing ha
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3 years ago
Lewis Company traded machinery with a book value of $950,000 and a fair value of $900,000. It received in exchange from Timmons
Komok [63]

Answer:

Lewis should recognize a gain on the exchane of $13,636

Explanation:

In order to calculate the amount of gain or loss should Lewis recognize on the exchange, first we have to determine the amount of gain with the followig formula:

Gain=Total value of the machine received-Book value of machine exchanged

     =(cash received+fair value of machine received)- $950,000

     =($100,000+$1,000,000)-$950,000

     =$ 150,000

Next, In order to calculate the amount of gain or loss should Lewis recognize on the exchange we have to use the following formula:

recognize gain or loss=( <u>      cash received       )</u>× gain

                    cash received+fair value of equipment received

                                   =  (<u>    $ 100,000     </u>)× 150,000

                                  $100,000+$1,000,000

                                   =$13,636

Lewis should recognize a gain on the exchane of $13,636

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3 years ago
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