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Allushta [10]
2 years ago
11

Zisk Co. purchases raw materials on account Budgeted purchase amounts are April, $80,000, May, $110,000, and June, $120,000. Pay

ments are made as follows: 70% in the month of purchase and 30% in the month after purchase. The March 31 balance of accounts payable is $22,000. Prepare a schedule of budgeted cash payments for April, May, and June. (I need ending accounts payable)

Business
1 answer:
Amanda [17]2 years ago
3 0

Answer:

A schedule of cash payments for April, May, and June is prepared.

Explanation:

The following image shows the calculation and explanation of the cash payment schedule.

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Describe the differences among ethnocentric, polycentric, regiocentric, and geocentric management orientations.
Alekssandra [29.7K]

Describing the differences among ethnocentric, polycentric, regiocentric, and geocentric management orientations. We can explain them as follows.

In an ethnocentric management orientation, domestic enterprises or organizations think that their domestic activities or practices within the domestic area influence the domestic market. In this situation, the management teams are frequently transferred from their hometown or place of origin to a new site or a foreign nation.

The approach known as polycentric management orientation is one in which companies and organizations think there is always a distinctive strategy in every global market. This entails hiring and advancing suitable people from the same nation or region that the company works in. It primarily aims to lower hiring costs.

On the other side, the huge multinational firms that tend to construct groups of nations or regions where their branches are located and then develop policies and strategies that would only be relevant in those nations or regions are known as "regiocentric management orientation."

Contrary to the polycentric method, firms and organizations using geocentric management operations hire personnel from all over the world. KFC frequently adopts this stance.

Hence, differences among them have been explained above.

Learn more about Management:

brainly.com/question/1276995

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5 0
1 year ago
Complete the balance sheet and sales information in the table that follows for J. White
deff fn [24]

Answer:

Sales $600,000

Cost of Goods Sold $450,000

Cash $28,000

Accounts payable $110,000

Accounts receivable $60,000

Inventory $120,000

Common Stock $140,000

Fixed Asset $192,000

Total Liabilities and equity $400,000

Explanation:

1.To compute the missing amount of sales, we must look for the data given that has something to do with sales. And the two data given that will give us the hint are the Asset turnover and the total asset.

ASSET TURNOVER = Net Sales / Total Asset

1.5 = Net Sales * $400,000

Net Sales = 1.5 * $400,000

Net Sales = $600,000

To check if the answer is correct:

$600,000 / $400,000 = 1.5 <em>which is equal to the data given</em>

<em />

2. The Sales has been computed above and Gross profit margin on sales is present, these are the hint we needed to compute the Cost of goods sold.

Sales  100%

<u>Less: Gross profit margin on sales 25%</u>

Cost of goods sold ratio on sales 75%

Therefore, $600,000 x 75% (ratio on sales) = $450,000

3.ACCOUNTS RECEIVABLE

It is impossible to compute the cash based on the data given without the accounts receivable. So, let's compute the accounts receivable beforehand.

The additional hint that we have is the Days sales outstanding (based on 365-day year).

  • Days sales outstanding = Accounts receivable / (Annual credit sales / 365 days)
  • 36.5 days = Accounts receivable / ($600,000 / 365)
  • Accounts receivable = 36.5 * ($600,000 / 365)
  • Accounts receivable = $60,000

<em>To check our answer:</em>

<em>$60,000 / ($600,000 / 365)</em>

<em>$60,000 / 1,643.84</em>

<em>36.5 days</em>

<em />

4. ACCOUNTS PAYABLE

Next missing item that we will compute is the accounts payable. The hint that we have that is related to the computation of accounts payable is the Liability to asset ratio.

FORMULA :

Liability to asset ratio = Total Liabilities / Total Assets

40% = Total Liabilities / $400,000

Total Liabilities = 40% * $400,000

Total liabilities = $160,000

To Check:

<em>$160,000 / $400,000 = 40% which is equal to the data given</em>

<em>Next Step, Compute accounts payable (the only current liability account in the given partial income statement). Long term debt is the only non-current liability on the data given, which means it is the only account that is included in the total liability of $160,000.</em>

<em />

So, $160,000 less $50,000 = $110,000 (accounts payable)

5. CASH

We can now compute the cash based on the accounts already computed above. The additional hint that we have is the quick ratio. Quick ratio is the quotient of Cash & cash equivalent plus Marketable securities (which is not present in the data given, therefore ignore) plus the accounts receivable over the current liability.

Computation:

0.80 = (Cash + Marketable security + Accounts receivable) / current liability

0.80 = (Cash + Accounts receivable) / $110,000

Cash + Accounts receivable = 0.80 * $110,000

Cash + Accounts receivable = 88,000

Cash + $60,000 = $88,000

Cash = $88,000 - $60,000

Cash = $28,000

6. INVENTORY

To compute the inventory, we need the inventory turn-over hint.

Inventory turn-over = Cost of goods sold / Average inventory

3.75 = $450,000 / Ave inventory

Average inventory = $450,000 / 3.75

Average inventory = $120,000

to check:

<em>$450,000 / $120,000 = 3.75 which is equal to the data given</em>

<em />

7. COMMON STOCK

Total asset = Liabilities + Equity

$400,000 = $160,000 +?

$400,000 - $160,000 = $240,000

Equity is composed of common stock and retained earnings. Therefore, $240,000 - $100,000 (Retained earnings) = $140,000 (common stock)

8. FIXED ASSET

It is the only asset account that is missing after we computed cash, accounts receivable and inventory. Therefore total assets less current assets equals fixed assets.

  • $400,000 - ($28,000 + $60,000 + $120,000)
  • $400,000 - $208,000
  • $192,000 (fixed assets)

9. TOTAL LIABILITIES AND EQUITY

Current liability + Non-current liability + Common stock + Retained earnings

$110,000 + $50,000 + $140,000 + $100,000

$400,000

6 0
3 years ago
The break-even point is a.the maximum possible operating loss. b.where the total sales line intersects the total costs line on a
Alisiya [41]

Answer:

The answer is B.

Explanation:

To a layman, break-even point is the point where an entity neither make profit nor loss. It is the point where total revenue equals total cost(where the total sales line intersects the total costs line on a cost-volume-profit chart).

Points greater or above this intersection or point mean the firm is making profit and points lesser or below this intersection or point mean the firm is making loss.

4 0
3 years ago
A(n) ____________ portfolio maximizes return for a given level of risk, or minimizes risk for a given level of return.
Anastaziya [24]

An efficient portfolio maximizes return for a given level of risk or minimizes risk for a given level of return.

Having an efficient portfolio when preparing a financial planning is undeniably important as this helps you in your decision-making; whether you engage in something while knowing the specific risk of doing that certain action.

8 0
3 years ago
The stockholders' equity accounts of Bramble Corp. on January 1, 2022, were as follows.
damaskus [11]

Answer:

Bramble Corp.

1. Journal Entries:

Feb. 1 Debit Cash $27,000

Credit Common Stock $18,000

Paid in excess - Common $9,000

To record the issue of 4,500 shares of common stock at $6 per share.

Mar 20: Debit Treasury Stock $6,300

Credit Cash $6,300

To record the purchase of 900 shares of treasury stock at $7 per share.

Oct. 1: Debit Dividends: Preferred $18,900

Credit Dividends payable $18,900

To record the declaration of 7% cash dividend on preferred stock.

Nov. 1: Debit Dividends payable $18,900

Credit Cash $18,900

To record dividend paid on preferred stock.

Dec. 1: Debit Dividends: Common Stock $112,050

Credit Dividends Payable $112,050

To record the declaration of dividend.

Dec. 31 Debit Dividends payable $112,050

Credit Cash $112,050

To record the payment of dividends.

Closing Journal Entries:

Dec. 31 Debit Income summary $252,000

Credit Retained Earnings $252,000

To close net income to retained earnings.

Debit Retained Earnings $130,950

Credit Dividends $18,900

Credit Dividends - Common $112,050

To close dividends to retained earnings.

2. Stockholders' Equity Section of the Balance Sheet at December 31, 2017:

Preferred Stock (7%, $100 par noncumulative, 4,500 shares authorized)

Issued and outstanding, 2,700 shares = $270,000

Common Stock ($4 stated value, 270,000 shares authorized)

Issued 229,500 shares at $4 = $918,000

Paid-in Capital In Excess of Par Value-Preferred Stock = $13,500

Paid-in Capital in Excess of Stated Value-Common Stock $441,000

Retained Earnings $740,250

Treasury Stock (5,400 common shares) ($42,300)

Total common equity       $2,070,450

Total equity = $2,340,450

3. Payout ratio:

= Total dividends/Net Income

= $130,950/$252,000

= 0.52

Earnings per share

Earnings after preferred dividends/Outstanding common stock

= $233,100/224,100

= $1.04 per share

Return on Common Stockholders' equity:

= $233,100/ $2,070,450 * 100

= 11.26%

Explanation:

a) Data

Preferred Stock (7%, $100 par noncumulative, 4,500 shares authorized)

Issued and outstanding, 2,700 shares = $270,000

Common Stock ($4 stated value, 270,000 shares authorized)

Issued 225,000 shares at $4 = $900,000

Paid-in Capital In Excess of Par Value-Preferred Stock = $13,500

Paid-in Capital in Excess of Stated Value-Common Stock $432,000

Retained Earnings $619,200

Treasury Stock (4,500 common shares) $36,000

Transaction Analysis:

Feb. 1 Cash $27,000 Common Stock, 4,500 shares $27,000

Mar 20: Treasury Stock $6,300 Cash $6,300

Oct. 1: Dividends: Preferred $18,900 Dividends payable $18,900

Nov. 1: Dividends payable $18,900 Cash $18,900

Dec. 1: Dividends: Common Stock $112,050 Dividends Payable $112,050

Dec. 31 Net Income = $252,000

Dec. 31 Dividends payable $112,050 Cash $112,050

Common Stock shares:

Beginning balance = 225,000

Treasury stock              (4,500)

Issued                            4,500

Treasury stock                (900)

Outstanding shares  224,100

Retained Earnings    $619,200

Net Income                252,000

Less Dividends:

Preferred stock            18,900

Common stock          112,050

Retained Earnings $740,250

Treasury stock (4,500 + 900) = 5,400 shares $42,300 ($36,000 + 6,300)

6 0
2 years ago
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