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mojhsa [17]
3 years ago
14

Budgeted sales in Acer Corporation over the next four months are given below: September October November December Budgeted sales

$120,000 $140,000 $180,000 $160,000 Thirty percent of the company's sales are for cash and 70% are on account. Collections for sales on account follow a stable pattern as follows: 50% of a month's credit sales are collected in the month of sale, 30% are collected in the month following sale, and 20% are collected in the second month following sale. Given these data, cash collections for December should be_____________.
a. $118,700
b. $100,500
c. $161,400
d. $141,800
Business
1 answer:
katovenus [111]3 years ago
4 0

Answer:

c. $161,400

Explanation:

The computation of the cash collections for December month is shown below:

Cash sales

= $160,000 × 30%

= $48,000

Credit sales

For same month  = $160,000 × 50% × 70% = $56,000

For one month = $180,000 × 30% × 70% = $37,800

For second month = $140,000 × 20% × 70% = $19,600

So, the total cash collections is

= $48,000 + $56,000 + $37,800 + $19,600

= $161,400

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Answer: <em>Options (A), (B), (C) and (D) are all correct.</em>

Explanation:

From the given question, we can easily state that Jonathan illustrate a Leader's, Liaison's, Disseminator's and Spokesperson's role.

Here, Jonathon act as a leader and spokesperson of a cell phone manufacturing company. Also, While making announcement about the vacant position he tends to play the role of a disseminator and liaison between the different strata of the organization.  

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3 years ago
Suppose Stark Ltd. just issued a dividend of $2.33 per share on its common stock. The company paid dividends of $2.00, $2.08, $2
klasskru [66]

Answer:

arithmetic average growth rate = (4% + 3.37% + 5.12% + 3.1%) / 4 = 3.9%

we need to find the required rate or return (RRR) in the following formula:

stock price = expected dividend / (RRR - growth rate)

  • expected dividend = $2.33 x 1.039 = $2.42
  • stock price = $55
  • growth rate = 0.039

55 = 2.42 / (RRR - 0.039)

RRR - 0.039 = 2.42 / 55 = 0.044

RRR = 0.083 = 8.3%

geometric average growth rate = [(1.04 x 1.0337 x 1.0512 x 1.031)¹/⁴] - 1 = 3.89%

again we need to find the required rate or return (RRR) in the following formula:

stock price = expected dividend / (RRR - growth rate)

  • expected dividend = $2.33 x 1.0389 = $2.42
  • stock price = $55
  • growth rate = 0.0389

55 = 2.42 / (RRR - 0.0389)

RRR - 0.0389 = 2.42 / 55 = 0.044

RRR = 0.0829 = 8.29%

5 0
3 years ago
Suppose Firm A has a supply curve of Upper Q Subscript Upper A Baseline equals negative 2 plus p and Firm B has a supply curve o
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Answer:

The total supply can be found by adding individual supply functions as follows:

Qa+Qb = Q

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Q= -2+1.5p where p = $44 therefore;

Q= -2+1.5(44)

Q= 64

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8 0
3 years ago
Ocean Vessels, Inc., and Pacific Harbor Company enter into a contract for a sale of a boat. Ocean is a merchant who deals in goo
UNO [17]

Answer:

d.​regardless of what Ocean knew or could have discovered.

Explanation:

The uniform commercial code are a set of rules that govern transactions involving sale of goods. One of such rules is the implied warranty of merchantability.

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For example if one buys a television not is expected that the television will work. If it does not come on, implied warranty has been breached.

So in this case regardless of what Ocean knew or could have discovered, selling defective goods is a breach of implied warranty of merchantability.

7 0
3 years ago
Rane Company had the following assets on January 1, 2017.
Viefleur [7K]

Answer:

Journal entries are prepared below

Explanation:

Journal entries required are given as follows

Jan. 1 (To record retirement of machinery)  

                                                                     Debit        Credit

Accumulated depreciation-equipment     $69,580

Equipment                                                                   $69,580

June. 30 (To record the depreciation expense on forklift)

                                                                     Debit        Credit

Depreciation expense                                2940

Accumulated depreciation-equipment                       2940

Working

Annual depreciation = $29,400 / 5 years = $5880

depreciation for 6 months = $5880 x 6/12 = $2940

June. 30 (To record sale of forklift)

                                                                        Debit        Credit

Cash                                                                 11760  

Accumulated depreciation-equipment(w)    20580  

Equipment                                                                      29400

Gain on disposal of plant assets                                     2940

Working

Accumulated depreciation = 5880 x 3.5 years

 

Dec. 31 (To record depreciation expense on truck)

                                                                     Debit        Credit

Depreciation expense                                 3724

Accumulated depreciation-equipment                       3724

Working

Annual depreciation on truck = ($32,736- $2,944) / 8 years = $3724

Depreciation for 2017 = $3724

 

Dec. 31 (To record discarding of the truck)  

                                                                     Debit        Credit

Salvaged materials                                    2,944

Accumulated depreciation-equipment    22344

Loss on disposal of plant assets               7448

Equipment                                                                    32,736

Working

Accumulated depreciation = 3724 x 6 years = 22,344

6 0
3 years ago
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