2. What has Calvina done wrong?

dit sales of $42,000 and $68,000, respectively. The company expects to collect 60% of its credit sales in the month of the sale,

blagie [28]

Answer:

cash collections from credit sales that the company will include in its cash budget for the second month is $55,500

Explanation:

Second Month Cash Collections will include the following Cash flows:

(1) 60% of the 2nd month`s sales

(2) 35 % of the 1st month`s sales

<u>Therefore cash collections from credit sales :</u>

(1) 60% of the 2nd month`s sales ( $68,000×60%) = $40,800

(2) 35 % of the 1st month`s sales ( $42,000× 35 %) = $14,700

Total cash collections = $55,500

8 0

2 years ago

Read 2 more answers

A researcher examining the effects of an experimental surgery on epilepsy randomly assigns epileptic patients to three different

sergey [27]

The answer to this question is the "WAIT-LIST CONTROL". When a researcher is examining the effects of an experimental surgery on epilepsy randomly assigns epileptic patients to three different conditions. The first condition is that the participants receive the surgery. The second condition is that the patients receive the medication while third condition, the patients receive the surgery one month after the other group of patients. The third group of patients who need to wait for another one month is in the WAIT-LIST CONTROL and can only be accommodated after the other group is done.

6 0

3 years ago

The following information pertains to Crane Company. 1. Cash balance per bank, July 31, $11,136. 2. July bank service charge not

Alexus [3.1K]

Answer:

1. Adjusted cash balance per bank $13,760

Adjusted cash balance per books $13,760

2. Jul-31

Dr Cash $2,560

Cr Notes Receivable $2,560

Jul-31

Dr Miscellaneous Expense $64

Cr Cash $64

Explanation:

1. Preparation of a Bank reconciliation statement

at July 31, 2022

CRANE COMPANY

Bank Reconciliation

July 31,2022

Cash balance per bank statement $11,136

Add: Deposits in transit $4,544

Less: Outstanding checks ($1,920)

Adjusted cash balance per bank $13,760

Cash balance per books $11,264

Add: Electronic Funds transfer Received $2,560

Less: Bank service charge ($64)

Adjusted cash balance per books $13,760

2. Preparation of the adjusting journal entries at July 31 on the books of Crane Company.

Jul-31

Dr Cash $2,560

Cr Notes Receivable $2,560

Jul-31

Dr Miscellaneous Expense $64

Cr Cash $64

7 0

2 years ago

On December 1, 2020, Bramble Corporation incurs a 15-year $1300000 mortgage liability in conjunction with the acquisition of an

weeeeeb [17]

The portion of the second monthly payment made on January 31, 2021, which represents repayment of principal is $15600.

<h3>Mortgage liability </h3>

Mortgage liability limits the liability of potential third parties who were not involved when the mortgage was arranged. For example, if a mortgage is in arrears, the debtor has to pay the outstanding principal and interest, plus late payment and other charges.

<h3>What is mortgage asset or liabilities?</h3>

A current liability for

1) the principal payments that will be coming due within one year after the balance sheet date, and

2) any accrued interest that is owed as of the balance sheet date.

To learn more about current liability visit the link

brainly.com/question/14287268

#SPJ4

6 0

1 year ago

Julio is the owner of Party Pros, Inc., a party supply company. The company provides tents, tables, chairs, and related products

wel

Answer:

Line organization model

Explanation:

Based on the information provided within the question it seems that Party Pros Inc. is using a Line organization model. This is an organizational structure in which power flows from the top to the bottom, meaning that the person at the top is the owner and the individuals in each level of the hierarchy answer to those in the upper levels, all of which are trying to accomplish the same organizational goals. Such as is being described in this situation.

8 0

3 years ago