True or false: An EAP only contains information on what happens during an emergency.

PA9.

meriva

Complete Question:

PA9.

LO 7.3 Fit band's estimated sales are:

$

OCTOBER 131,982

NOVEMBER 195,723

DECEMBER 249,283

JANUARY 124,298

FEBRUARY 124,284

MARCH 124,373

What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale?

Answer:

JANUARY FEBRUARY MARCH

Amount received from November sales 19,572

Amount received from December sales 62,321 24,928

Amount received from January sales 80,794 31,075 12,430

Amount received from November sales 31,071

TOTAL $162,687 $56,003 $43,501

Explanation:

The balances calculated are based on the following formula:

Amount received = Sales Figure of that month * Percentage

65% in the month of sale is received, 25% in the next month and the residual is received in the second month after sales

For the month of November:

65% of its total sales will be received in november, 25% in the next month(December) and the residual 10% in the second month after sale(January). Likewise for the month of January, we see in the computation that 65% of sales was received in the same month, 25% in the next month February and the residual 10% in the second after sale which is in March.

3 0

3 years ago

The following are selected 2020 transactions of Astin Corporation. Sept. 1 Purchased inventory from Encino Company on account fo

masya89 [10]

Answer:

inventory 50,000 debit

accounts payable 50,000 credit

--to record purchase of goods--

accounts payable 50,000 debit

notes payables 50,000 credit

--to record teh issued promissory note to setle the account--

cash 50,000 debit

discount on note payable 4,000 debit

notes payable 54,000 credit

--to record the discounted note--

Explanation:

a) we record the purchase as always.

b) we are trading a liability for another. We do not receive for the note.

c) we discount on the note and we are goind to declare the interest expense at maturity or year-end against this discount.

5 0

3 years ago

Hiring employees from outside the host country is an option many companies take when the local labor market does not offer enoug

Alinara [238K]

Answer:

True

Explanation:

Some countries are known to have people with special skills and competences that may not be available to others.

Hence where a company sees that the skills and competence required may not be adequately available in the local market, the company has the option of hiring employees from outside the country.

This may however be at a cost higher than the cost that would have been incurred if the company had hired the employee from the host country.

6 0

3 years ago

Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO? Nov. 01 Inventory 24 units a

ikadub [295]

Answer: $758

Explanation:

When using the LIFO ( Last in First Out) method of valuing stock, you sell the stock that came in most recently first then you sell the stock that came the least recently last.

Sold 10 units in November 4 with the most recent inventory being 24 units at $23.

The 10 units therefore cost $23 each.

Sold 24 units on November 17 with the most recent inventory being 29 units purchased at $22 on the 10th of November.

This will therefore be valued at $22 each.

The Cost of Merchandise for the month is therefore,

= (10 * $23) + (24 * 22)

= 230 + 528

= $758

5 0

3 years ago

Relatively high interest rates in the united states causes the dollar to ____ in the ____.

sergey [27]

Answer:

a. appreciate, long run

Explanation:

As when a currency has relative higher interest rates this means that the dollar will appreciate and hence maintain long-run stability. As the dollar can buy more than its equivalent.
This is also caused by the increase in the demands for the money in the home country and tends to attract foreign investments.

A longer run tend is more likely to be caused by inflation due to the higher interest rates the dollar.

8 0

3 years ago