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jeka94
3 years ago
13

Wells Company reports the following sales forecast: September, $55,000; October, $66,000; and November, $80,000. All sales are o

n account. Collections of credit sales are received as follows: 25% in the month of sale, 60% in the first month after sale, and 10% in the second month after sale. 5% of all credit sales are written off as uncollectible. Prepare a schedule of cash receipts for November.
Business
1 answer:
irakobra [83]3 years ago
4 0

Answer:

Total= $65,100

Explanation:

Giving the following information:

Wells Company reports the following sales forecast: September, $55,000; October, $66,000; and November, $80,000.

Collections of credit sales are received as follows: 25% in the month of sale, 60% in the first month after sale, and 10% in the second month after sale. 5% of all credit sales are written off as uncollectible.

Cash collection November:

November= 80,000*0.25= 20,000

From October= 66,000*0.6= 39,600

From September= 55,000*0.10= 5,500

Total= $65,100

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Answer:

The correct options are "A, C, and D".

Explanation:

  • GAAP becomes regarded as a relatively 'rules-based' management framework, seems to be the accounting technique used throughout the United States
  • IFRS becomes quite 'principles-based', although this would be the accounting framework used in more than 110 countries throughout the globe.
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3 years ago
A survey of entrepreneurs focused on their job characteristics, work habits, social activities, leisure time, etc. One question
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Answer: Hello below is the complete question

A survey of entrepreneurs focused on their job characteristics, work habits, social activities, leisure time, etc. One question put to each entrepreneur was, "What make of car (U.S., Europe, or Japan) do you drive?" The responses (number in each category) for a sample of 100 entrepreneurs are summarized below. The goal of the analysis is to determine if the proportions of entrepreneurs who drive American, European, and Japanese cars differ.

U.S. Europe Japan

40 35 25

In order to determine whether the true proportions in each response category differ, a one-way chi-square analysis should be conducted. Suppose the p-value for the test was calculated to be p=0.1738 . What is the appropriate conclusion to make when testing at α = 0.10?

Answer : The conclusion to be drawn is that We cannot reject the Null hypothesis if we use a one-way chi square analysis because at α = 0.1 from the chi-square  tabulated p-value = 0.584 while the calculated /given p-value is = 0.1738

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Data given:

p-value = 0.1738

α = 0.10

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U.S cars = 40,      Europe cars = 35,   Japan cars = 25

The conclusion to be drawn is that We cannot reject the Null hypothesis if we use a one-way chi square analysis because at α = 0.1 from the chi-square  tabulated p-value = 0.584 while the calculated /given p-value is = 0.1738

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3 years ago
On June 10, Sheridan Company purchased $7,700 of merchandise from Crane Company, terms 3/10, n/30. Sheridan Company pays the fre
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Answer:

Sheridan Company journal entries:

June 10

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An engineer is studying the slight differences in the length of roofing shingles that is being produced at his roofing company.
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The statement is: True.

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How do cellphone companies promote their product?​
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