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harina [27]
3 years ago
6

The following is a schedule of the projected unit sales of Western Company, which manufactures casual wear. Each unit sells for

$25. The company began the period with a beginning accounts receivable balance of $10,000. Choose the correct answer from the options provided. Quarter First Second Third Fourth Year Budgeted unit sales 1,500 1,300 1,400 1,300 5,500 Percentage of sales collected in the quarter of the sale 75% Percentage of sales collected in the quarter after the sale 25% Knowledge Check 01 What is the amount of budgeted sales revenue for the fourth quarter?
A. $32,500
B. $33,750
C. $35,000
D. $37,500
Business
1 answer:
Likurg_2 [28]3 years ago
7 0

Answer:

The correct option is A,the fourth quarter budgeted revenue is $32500 as shown below.

Explanation:

The budgeted sales quantity for fourth quarter is 1300 units at $25 each.

From Economics equation of revenue equals price multiplied by quantity, the revenue for the fourth quarter is calculated below.

Revenue=P*Q

P=price=$25

Q=budgeted quantity=1300 units

Revenue=$25*1300

Revenue=$32500

The value of this revenue that would be collected in the same quarter is 75%*$32500 is $24375 while the balance of $8125 in the first quarter of the succeeding year.

This way cash flow planning in terms of matching capital payments with cash receipt is better enhanced.

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Fine Lines Inc. is a notebook manufacturing company based in Ohio. Fine Lines' main market is Ohio. It aims at providing its pro
likoan [24]

Answer:

a.mechanistic

Explanation:

Based on the scenario being described within the question it can be said that it seems that Fine Lines Inc. is using a mechanistic structure. This type of structure, also known as a bureaucratic structure, is a structure based on a single formal and centralized network where authority comes from the top-level managers who make most of the decisions.

8 0
3 years ago
Read 2 more answers
On January 1, 2017, Eagle borrows $16,000 cash by signing a four-year, 5% installment note. The note requires four equal total p
goblinko [34]

Answer:

<u>Issuance - January 1, 2017</u>

Cash $16,000 (debit)

Note Payable $16,000 (credit)

<u>December 31, 2017</u>

Interest Expense $800 (debit)

Note Payable $3,712.19 (debit)

Cash $4,512.19 (credit)

<u>December 31, 2018</u>

Interest Expense $614.39 (debit)

Note Payable $3,897.80 (debit)

Cash $4,512.19 (credit)

<u>December 31, 2019</u>

Interest Expense $419.50 (debit)

Note Payable $4,092.69 (debit)

Cash $4,512.19 (credit)

<u>December 31, 2020</u>

Interest Expense $214.87 (debit)

Note Payable $4,297.32 (debit)

Cash $4,512.19 (credit)

Explanation:

The Loan Amortization Schedule is most appropriate way to solve all parts of this problem.

The first step to construction of the Amortization Schedule is to determine the payments made annually, PMT (interest and principal).

Using a Financial calculator, this can be determined as ;

Pv = $16,000

r = 5%

n = 4

Fv = $0

p/yr = 1

Pmt = ?

Thus PMT is $4,512.19.

Amortisation Schedule (Extracted from Financial Calculator)

<u>2017</u>

Principle Payment = $3,712.19

Interest Payment = $800

Balance =  $12,287.81

Accounting Entries :

Interest Expense $800 (debit)

Note Payable $3,712.19 (debit)

Cash $4,512.19 (credit)

<u>2018</u>

Principle Payment = $3,897.80

Interest Payment = $614.39

Balance =  $8,390

Accounting Entries :

Interest Expense $614.39 (debit)

Note Payable $3,897.80 (debit)

Cash $4,512.19 (credit)

<u>2019</u>

Principle Payment = $4,092.69

Interest Payment = $419.50

Balance =  $4,297.32

Accounting Entries :

Interest Expense $419.50 (debit)

Note Payable $4,092.69 (debit)

Cash $4,512.19 (credit)

<u>2020</u>

Principle Payment = $4,297.32

Interest Payment = $214.87

Balance =  $0

Accounting Entries :

Interest Expense $214.87 (debit)

Note Payable $4,297.32 (debit)

Cash $4,512.19 (credit)

8 0
3 years ago
"_____" is the alternative term for "comfort" that is used by the wall street journal as one of the factors to grade jobs.
Leya [2.2K]
The answer is environment, this is the word that the wall street journals used in having to term the word comfort as this is somehow a word that made sense to them or something that depicts to them for them, environment is a way of having to say that it is comfort or comforting to other people.
3 0
3 years ago
Harvey and Liza are discussing ethics. Harvey says that ethics is a range of moral principles that steers our behavior. Liza say
swat32
B. Only Harvey is correct
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3 years ago
Redwood Corporation is considering two alternative investment proposals with the following​ data: Proposal X Proposal Y Investme
Nady [450]

Answer:

6.1%

Explanation:

As per given data

                                                             Proposal X     Proposal Y

Investment                                           ​$900,000      ​$488,000

Useful life                                             ​9 years           9 years

Annual net cash inflows for 9 years ​  $130,000       ​$84,000

Residual value  ​                                   ​ $42,000        $0

Depreciation method                          Straight-line   Straight-line

Required rate of return ​                       15%                 ​12%

Accounting rate of return is the ratio of average net income of a project and the average investment made in the project.

Accounting rate of return = Average Net income / Average Investment

As net cash inflows are given we need to deduct the depreciation from the cash flows to arrive at the net income for the period. As all cash flows are constant so, the average value will be equal to the single years value.

Average net income = Net cash inflows - Depreciation = Net cash inflows - ( Cost of Asset - Residual value ) / Useful life of asset = $84,000 - ( $488,000 - $0) / 9 = $84,000 - $54,222 = $29,778

Average Investment  = $488,000

Placing Values in the formula

Accounting rate of return = $29,778 / $488,000 = 6.1%

5 0
3 years ago
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