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Karo-lina-s [1.5K]
2 years ago
13

Boone Co.'s sales, based on past experience, are 20% cash and 80% credit. Credit sales are typically collected as follows: 40% i

n the month of sale, 50% in the month after the sale, and 10% in the second month following month of sale. On December 31, the accounts receivable balance is $73,500, of which $27,000 is from November sales. Total sales for January and February are budgeted to be $113,000 and $133,000, respectively. What are Boone Co.'s budgeted cash receipts for January
Business
1 answer:
Tamiku [17]2 years ago
7 0

Answer:

$135,260

Explanation:

Remember to follow the cash collection history to determine the budgeted cash receipts for January.

Budgeted cash receipts for January

January Cash Sales $113,000 x 20%                     $22,600

January Credit Sales $113,000 x 80% x 40 %        $36,160

December Credit Sales ($73,500 - $27,000)       $46,500

November Credit Sales                                          $27,000

Total                                                                       $135,260

Therefore,

Boone Co.'s budgeted cash receipts for January is $135,260

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After years of selling in the consumer market, Dave accepted a job as a salesperson for a firm that markets its products in the
ArbitrLikvidat [17]

Dave accepted a position as a salesperson for a company that markets its products in the B2B sector after years of selling to consumers. He'll probably discover the following when he thinks about his new responsibilities: industrial clients typically need more individualized attention than clients in the consumer sector.

What is the consumer market?

When people buy goods or services for their consumption rather than to resell them, such market is known as the consumer market. Consumer markets are generally made up of goods that individuals use daily.

What is B2B marketing?

Businesses that use B2B marketing concentrate on promoting their products or services to other businesses. B2B enterprises sometimes function in this way because they offer goods that are in high demand among other businesses alone.

Do consumers prefer personalization?

More than 76% of consumers claimed that receiving tailored messages was a significant motivator for them to consider a brand, and 78% claimed that such information increased their likelihood of making a second purchase.

Learn more about Marketing: brainly.com/question/13414268

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6 0
1 year ago
What information appears on a pay stub?
Ira Lisetskai [31]

Answer:

salary prior to taxes and tax deductions.

Explanation:

A pay stub usually referred to as a pay slip or paycheck stub is the financial document that lists the amount of money an employee is paid. It is generally issued by the employers for each

pay period.

Pay stub gives a detailed information about total earnings of an employee for the pay period, tax deductions from the total as well as the net pay after deductions.

Federal Insurance Contributions Act (FICA) is usually written on all pay stubs, which is an indication of an employee's contribution to Medicare and Social Security.

7 0
3 years ago
One year ago, Alpha Supply issued 15-year bonds at par. The bonds have a coupon rate of 6.5 percent, paid semiannually, and a fa
Masja [62]

Answer:

option (C) - 6.11%

Explanation:

Data provided :

Coupon rate one year ago = 6.5% = 0.065

Semiannual coupon rate = \frac{0.065}{2} = 0.0325

Face value = $1,000

Present market yield = 7.2% = 0.072

Semiannual Present market yield, r = \frac{0.072}{2} = 0.036

Now,

With semiannual coupon rate bond price one year ago, C

= 0.0325 × $1,000

= $32.5

Total period in 15 years = 15 year - 1 year = 14 year

or

n = 14 × 2 = 28 semiannual periods

Therefore,

The present value = C\times[\frac{(1-(1+r)^{-n})}{r}]+FV(1+r)^{-n}

= \$32.5\times[\frac{(1-(1+0.036)^{-28})}{0.036}]+\$1,000\times(1+0.036)^{-28}

or

= $32.5 × 17.4591 + $1,000 × 0.37147

= $567.42 + $371.47

= $938.89

Hence,

The percent change in bond price = \frac{\textup{Final price - Initial price}}{\textup{Initial price}}\times100\%

= \frac{\textup{938.89-1,000}}{\textup{1,000}}

= - 6.11%

therefore,

the correct answer is option (C) - 6.11%

4 0
3 years ago
An individual is now 50 years old, that he plans to retire in 10 years, and that he expects to live for 25 years after he retire
Nutka1998 [239]

Answer:

Ans.  He must save during each of the following 10 years, at the end of each year $32,452.

Explanation:

Hi, in order to find the amount of money that he should have in ten years so he can receive an annual payment of $65,156 for 25 more years (24 payments), we need to bring to present value all 24 payments to year 10. Let me show you the formula.

PresentValue_{10} =\frac{A((1+r)^{n}-1) }{r(1+r)^{n} }

Where:

A= $65,156

n= 24

r= 0.08

Therefore the present value in year 10 is:

PresentValue_{10} =\frac{65,156((1+0.08)^{24}-1) }{0.08(1+0.08)^{24} }=686,012

So that is our present value in year 10, or to put it in other words, our future value (if we look at it from year 0). Now we need to find the annuity (amount to save) that with account for $686,012, plus that $100,000 that he already has saved.

Every should look like this.

686,012=100,000*(1+0.08)^{10} +\frac{A((1+0.08)^{10}-1) }{0.08(1+0.08)^{10} }

And we solve this equation for "A".

686,012=A(14.4865625)+215,892

A=\frac{(686,012-215,892)}{14.4865625} =32,452

Best of luck.

5 0
3 years ago
A business issued a 120-day, 5% note for $84,000 to a creditor on account. Journalize the entries to record (a) the issuance of
sveta [45]

Answer:

a. Issuance of note:

Date             Account title                                         Debit                   Credit

XX-XX          Accounts Payable                            $84,000

                    Notes Payable                                                                $84,000

b. The payment of the note at maturity, including interest. Assume a 360-day year.

Interest payment = 84,000 * 5% * 120/360

= $1,400

Date             Account title                                         Debit                   Credit

XX-XX          Note Payable                                    $84,000

                     Interest payable                               $1,400

                     Cash                                                                              $85,400

3 0
3 years ago
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