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gladu [14]
3 years ago
5

Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects cre

dit sales of $48,000 and $76,000, respectively. The company expects to collect 60% of its credit sales in the month of the sale and the remaining 40% in the following month. What is the expected cash collections from credit sales during the first month
Business
1 answer:
Orlov [11]3 years ago
3 0

Answer:

$28,800

Explanation:

Follow the given collection policy :

Cash Collection = 60 % in month of the sale + 40 %  in the following month

<em>therefore,</em>

During the first month :

Cash Collection = 60 % in month of the sale only

                            = $48,000 x 60 %

                            = $28,800

The expected cash collections from credit sales during the first month is $28,800

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Casey Klemons' agreement (BELO plan) with his employer provides for a pay rate of $16.50 per hour with a maximum of 50 hour. How
KatRina [158]

Answer:

$907.50

Explanation:

Calculation for How much would Klemons be paid for a week in which he worked 46 hours

Amount to paid =(10 × 0.5 × $16.50)+(50× $16.50

Amount to paid=$82.50 + $825

Amount to paid=$907.50

Therefore the amount that Klemons should be paid for a week in which he worked 46 hours is $907.50

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3 years ago
Which of the following is a distance-based method for location alternatives evaluation?Factor rating methodDecision treeBreak-ev
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Answer: The correct answer is the center of gravity approach.

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The balance sheet of a corporation reports ______. only the debts of the business and its owners only the results of the busines
grandymaker [24]

Answer:

only the results of the business' activities

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 balance sheet is among the three main financial statements prepared by a corporation. It reports the financial positions of the business by showing the value of assets, liabilities, and the shareholder's equity at any point in time. Therefore, a balance sheet shows the net worth of the corporation.

The preparation of the balance sheet follows the accounting equation of assets equals liabilities plus shareholder equity. On one side, the balance sheet reports the assets and liabilities and equity on the other.  In other words, the balance sheets indicate how the assets of a business are financed. It does not report on the personal activities of business owners.

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3 years ago
Alan runs a small manufacturing business. One day, a subordinate informed Alan about a problem in the production process because
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D. Resourcefulness; if you can pick more than one than also chose A. Confidence.
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During the month of May, a company performed $2,400 of cash services and $3,300 of services on account. The journal entry at the
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Answer:

Debit : Cash  $2,400

Debit : Account Receivables $3,300

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So this journal must both recognize the Assets in Cash and Assets in Trade Receivables since control for the services has already been transferred.

The journal entry at the end of the month to record this transaction would be :

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3 years ago
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