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Marat540 [252]
3 years ago
10

Home Corporation will open a new store on January 1. Based on experience from its other retail outlets, Home Corporation is maki

ng the following sales projections: Cash Sales Credit Sales January $60,000 $40,000 February $30,000 $50,000 March $40,000 $60,000 April $40,000 $80,000 Home Corporation estimates that 70% of the credit sales will be collected in the month following the month of sale, with the balance collected in the second month following the month of sale. Based on these data, the balance in accounts receivable on January 31 will be:
Business
1 answer:
kiruha [24]3 years ago
4 0

Answer:

$95,850

Explanation:

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The account balances and income statement of Winfrey Towing Service on June 30, 2018, follow:
Alina [70]

Answer:

1. WINFREY TOWING SERVICE

Statement of Comprehensive Income

                                           $

Service revenue               10,800

Rent expense                    (550)

Salaries expense              (1,900)

Dividends paid                  <u>(4,000)</u>

Net income                        <u> 4,350</u>

Statement of Retained Earnings

                                             $

Retained earnings b/f      3,900

Add: Net income               4,350

Retained earnings c/f       8,250

2. Statement of retained earnings report changes in retained earnings of a company in a given accounting year.

Explanation:

In this question, we need to obtain the net income of the company, which  is service revenue minus expenses minus dividend. Then, the statement of retained earnings is prepared by taking cognisance of the retained earnings brought forward and add the net income for the year.

7 0
4 years ago
A merchandising company's sales budget indicates the following sales: January: $25,000; February: $30,000; March: $35,000. Sales
Svetradugi [14.3K]

Answer:

The total selling expenses for the quarter will be $25,800

Explanation:

The computation of the total selling expenses for the quarter is shown below:

= Salaries + commission + Advertising

where,

Salaries = Expected salaries × number of months in one quarter

             = $5,000 × $3

             = $15,000

Commission = (January sales +  February Sales + March Sales) × Commission percentage

= ($25,000 + $30,000 + $35,000) × 10%

= $9,000

And, the adverting equal to

= Expected advertising expenses × number of months in one quarter

= $600 × 3 months

= $1,800

Now put these values to the above formula

So, the value would be equal to

= $15,000 + $9,000 + $1,800

= $25,800

3 0
3 years ago
14. in 2018, cities including seattle and san francisco passed laws banning the use of plastic disposable straws because they ar
mr Goodwill [35]

In the above situation, the potential costs that may be derived will be,

  1. Straws made of alternative materials lack the flexibility of plastic straws. This makes it harder for people with disabilities, seniors, and children to use them.
  2. Compostable straws are an alternative to disposable straws. For compostable straws to break down properly they need to be disposed of in a special commercial composter, an infrastructure that needs to be created.
  3. Alternatives to disposable straws do not need fossil fuels to be recycled.

Therefore, the options B, C and D hold true.

<h3>What is the significance of potential costs?</h3>

The potential costs can be referred to or considered as the costs that may have a contingency of being incurred by a producer upon the effects of some external factors.

Therefore, the options B, C and D holds true and states regarding the significance of potential costs.

Learn more about potential costs here:

brainly.com/question/10963256

#SPJ4

The question seems to be incomplete. It has been added below for better reference.

14. In 2018, cities including Seattle and San Francisco passed laws banning the use of plastic disposable straws because they are harmful to the environment (because plastic does not easily biodegrade) and to marine life (which ingest straws that end up in the ocean). Opponents point out that such bans may result in unintended monetary cost as well as external cost.

Which of the following describes potential costs that may arise as a result of these new laws? Select all that apply.

A. Alternatives to plastic straws cost at least 10 times more than the current price of plastic straws.

b. Straws made of alternative materials lack the flexibility of plastic straws. This makes it harder for people with disabilities, seniors, and children to use them.

C. Compostable straws are an alternative to disposable straws. For compostable straws to break down properly they need to be disposed of in a special commercial composter, an infrastructure that needs to be created.

D. Alternatives to disposable straws do not need fossil fuels to be recycled.

4 0
2 years ago
Questioñ 2 (1 point)
BlackZzzverrR [31]

Answer:

business, management, and administration cluster

Explanation:

Business Management and Administration Career Cluster emphases on careers in planning, organizing, directing, and evaluating business functions.

8 0
3 years ago
Which is an example of something that is inelastic?
Inessa [10]

Explanation:

example of something that is inelastic is a type of cancer medication

6 0
3 years ago
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