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OverLord2011 [107]
3 years ago
10

All sales are on account. 35% of the sales are collected in the month of sale, 45% in the following month, the remainder in the

second following month. Budgeted sales for Jan., Feb., Mar. are $50,000; $60,000; $40,000. How much cash is collected in March
Business
1 answer:
sesenic [268]3 years ago
6 0

Answer:

Total cash collection March= $51,000

Explanation:

Giving the following information:

All sales are on account.

35% of the sales are collected in the month of sale, 45% in the following month, the remainder in the second following month.

<u>Cash collection March:</u>

Sales on account from March= (40,000*0.35)= 14,000

Sales on account from February= (60,000*0.45)= 27,000

Sales on account from January= (50,000*0.2)= 10,000

Total cash collection March= $51,000

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Straight Industries purchased a large piece of equipment from Curvy Company on January 1, 2019. Straight Industries signed a not
Damm [24]

Answer:

$30,604

Explanation:

The computation of the interest expense for the year 2020 is as follows:

2019 interest expense is

= Equipment amount × rate of interest

= $311,967 × 9%

= $28,077

The Dec 31 2019 liability of book value is

= $311,967 + $28,077

= $340,044

Now the interest expense for the year 2020 is

= $340,044 × 0.09

= $30,604

3 0
2 years ago
In the papyrus corporation, cash receipts from customers were $136,000, cash payments for operating expenses were $102,000, and
sleet_krkn [62]
Cash receipts from customers = $136,000
cash payment for operating expenses = $102,000
tax paid  = 1 / 3
Amount on which tax paid = $9,300
amount of tax paid = $9,300 / 3 = $3,100
net cash provides by operating activities = ?
Net cash = cash from customers - cash payment for operating expense -  amount of tax paid
= $136,000 - $102,000 - $3,100
= $30,900
so the net cash provided by operating activities is $30,900
4 0
3 years ago
The Outlet needs to raise $3.2 million for an expansion project. The firm wants to raise this money by selling zero coupon bonds
Pani-rosa [81]

Answer:

14,783.33 bonds

Explanation:

Given

Par value FV = $1000

n =20 * 2 =40

R= 7.80/2 = 3.90%

Price per bond:

price per bond :PV = \frac{FV/}{(1+r)^n}

     = \frac{000}{(1+0.039)^{40}}

      = \frac{1000}{4.619786467}

      = 216.46

No. of bonds to be issued = \frac{amount to raise}{ price per bond}

                                           = \frac{3,200,000}{216.46}  

                                            = 14,783.33 bonds

3 0
3 years ago
If a person deposited $50 a month for 6 years earning 8%, this would involve what type of computation?
Elenna [48]
C. Future value of a series of deposits

It is not B, because although Future Value of a Single Amount (FV) is similar, it is only when you deposit a certain amount one time and let it grow in value. 
Your question says they deposit money more than once, so it is C.
5 0
3 years ago
Read 2 more answers
The following data are available for Cole Company. Increase in accounts payable $120,000 Increase in bonds payable 300,000 Sale
antoniya [11.8K]

Answer:

Net Cash=$390,000

Explanation:

Net Cash provided by financing activities = Increase in bond payable + Issuance of common stock - Payment of cash dividends

Net Cash= $300,000+$180,000-$90,000

Net Cash=$390,000

Net cash also refers to the amount of cash remaining after a transaction has been completed and all associated charges and deductions have been subtracted

6 0
3 years ago
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