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jarptica [38.1K]
3 years ago
6

On January 1, 2017, Marigold Corp. had Accounts Receivable of $59,400 and Allowance for Doubtful Accounts of $3,600. Marigold Co

rp. prepares financial statements annually. During the year, the following selected transactions occurred:

Business
1 answer:
Mnenie [13.5K]3 years ago
8 0

Answer:

Please see attachment

Explanation:

Please see attachment

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A firm has the following forecast information for sales of Product X: April 15,000 units May 17,000 units June 19,000 units July
Phoenix [80]

Answer:

<u>18,750 units</u>

Explanation:

A firm has the following forecast information for sales of Product X:

April 15,000 units

May 17,000 units

June 19,000 units

July 18,000 units Product X sells for $3 per unit.

Half of the firm's sales are for cash and the other half is on account.

Credit sales are collected in the following pattern: 60% in the month of sale, 30% in the month following sale, and 5% in the second month following sale (the remainder are uncollectible).

If the firm targets its ending inventories to be 25% of the following month's sales, what are the budgeted purchases (in units) for June .

Purchases Budget = Required production for sales - opening inventory of raw materials + closing inventory of raw materials = Raw materials required

June's Production Budget

Required production for sales = .............................................19,000 units

less: Beginning inventory (25% of June's sales) =............... 4,750 units

Add: Required Ending Inventory (25% of July's sales) = ...<u>4,500 units</u>

Raw materials required for purchase in June =.................. <u>18,750 units</u>

4 0
3 years ago
Read 2 more answers
Ray's Sounds has accumulated the following cost and market data on March 31: Cost Data Market Data iPods $24,000 $20,400 Cell ph
mixer [17]

Answer:

$64,000

Explanation:

product     cost data     market data       lower of cost or market

ipod       24,000         20,400             20,400

cell phone 18,000          19,000                18,000

DVDs        28,000          25,600              25,600

ending inventory = 20,400 + 18,000  + 25,600

                             = $64,000

Therefore, The value of the ending inventory is $64,000

8 0
3 years ago
Return on assets is computed as net income divided by total assets. true false question. true false
zvonat [6]

The statement, return on assets is computed as net income divided by total assets, is true.

Return on assets (ROA) is a profitability ratio, which measures that how efficiently a company uses the assets it owns to generate profits. If a company wants increase the return on assets then the company tries to increase the profit margin.

So the return on asset of a company is computed by dividing the net income earned by the company by average total assets employed by the company. Thus, it measures how much percentage of profit the company is generating in respect to its assets.

Hence, the higher the percentage of return on assets, the better it is.

To learn more about return on assets here:

brainly.com/question/14969411

#SPJ4

5 0
1 year ago
The exit of existing firms from a competitive market will a. decrease market supply and increase market price. b. decrease marke
makvit [3.9K]

Answer:

The correct answer is option A.

Explanation:

The exit of existing firms from the market will reduce the overall market supply. This will cause the market supply curve to move to the left.

This leftward shift in the market supply curve will lead to an increase in the equilibrium price. The equilibrium quantity will be reduced.

The other firms in the market will get more market share and higher profits.

4 0
2 years ago
Your firm needs a machine which costs $260,000, and requires $47,000 in maintenance for each year of its 10 year life. After 5 y
Aleks04 [339]

Answer:

nominal tax shield in year 10: 6,812 dollars

present value of the tax shield: 1,837.49

Explanation:

the nominal tax shield in year 10:

We look into the MACRS table for 10-years property class: 6.55%

The depreciation expense for this year is 260,000 x 6.55% = 17,030

Then this produces a tax shield of 40% 6,812

The nominal tax shield at year 10 is 6,812 dollars

considering time value of money today this tax shield is worth:

\frac{6812}{(1 + 0.14)^{10} } = PV  

PV: 1,837.49

3 0
3 years ago
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