Answer:
I) Days sales outstanding (DSO) for all customers? 48.7days
= (53*0.9)+(10*0.1) = 48.7 days
II) Net sales? $166.600
The Net sales = Gross sales - sales allowance
The discount amount due for the 10% discount customers = 2% of the 10% of 170 mn ==> 0.02 * 0.1 * 170 ===> 0.34 mn
∴ The Net sales = 17 - 0.34 mn = 16.66 mn
Amount paid by discount customers? $13.600
Explanation:
I. General Credit Policy Information
Credit stamps 2/10 Net 30
Days sales outstanding (DSO) for all customers 48.7days
DSO for customers who take the discount (10%) 10days
DSO for customers who forgo the discount (90%) 53days
II. Annual Credit Sales and Costs ($ millions)
Gross sales $170.000
Net sales? $166.600
Amount paid by discount customers $13.600
Amount paid by non discounted customers $153.000
Variable operating costs (82% of gross sales) $139.40
Bad debts $0.0
Credit evaluation & collection costs (10% of gross sales) $17.00
Answer:
The first is a $2,370,000 note payable which matures June 30, 2023.
The second is a $5,580,000 bond issue which matures September 30, 2024.
annual sinking fund payments of $2,570,000 in each of the years 2022 through 2026.
Year Amount of long term debt Working
2021 $0
2022 $2,570,000
2023 $4,940,000 = $2,570,000 + $2,370,000
2024 $8,150,000 = $,2,570,000 + $5,580,000
2025 $2,570,000
2026 $2,570,000
Long term debt is debt that must be paid in a period of time longer than one year. Debts that are due in less than one year are classified as current debts or liabilities. That is why there is no long term debt for 2021 (current year).
Answer:
$114 unfavorable
Explanation:
For computing the overall variable overhead efficiency variance first we have to need to find out the standard variable overhead rate which is shown below:
= ($11,680 + $41,900) ÷ 4,700 hours
= $11.4
Now the variable overhead efficiency variance is
= standard variable overhead rate × (Actual machine hours - standard machine hours)
= $11.4 × (4,740 machine hours - 4,730 machine hours)
= $114 unfavorable
This unfavorable indicates the actual hours are more than the standard hours
Earnings on an IRA grow until C. you take the money out.
An IRA will continue to earn interest and gain value until your money is taken out of the account. Once the money is taken out, the interest will stop being earned. An IRA is a good savings plan to invest your money into for potential gain. There are low and high risks with investments but IRA's are pretty easy to navigate for first time investors.
Answer:
Kindly see Explanation
Explanation:
April 10:
Dr Cash 37,800
Cr Sales 34,500
Cr Sales taxes 3,300
April 15:
Dr Cash 28,080
Cr Sales 26,000
Cr Sales taxes 2,080
Cash = 34500+3300 = 37800
Sales = 28080/1.08 = 26000
Sales tax (28080 - 26000) = 2080
