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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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Elise Philips, a leading fashion designer, connects with her followers through a strong online presence, promoting her brand and
galben [10]

<u>Answer</u>:

Elise Philips, a leading fashion designer, connects with her followers through a strong online presence, promoting her brand and discussing fashion tips through articles and videos on her personal fan page. In this case, the marketing forms Elise uses is (A) Blog

<u>Explanation</u>:

A word “Blog” etymologically speaking, comes from the combination of 2 words- Web and log.  

Essentially, a blog is an online account or expression of the writer, and is started with people putting their private experiences online but it has now become a very popular means of promotion and is gaining popularity in most urban areas.  

Blog Marketing entails using blogging websites such as Wordpress among others to promote ones’ product to the masses.  

The main advantages of Blog marketing include that firstly, it is easier to manage and economically feasible, secondly, it is an effective tool of marketing, especially amongst millennial, thirdly, it gives a more personalised approach to marketing and lastly, it is a great way to improve one’s Search Engine Optimisation ranking.

6 0
3 years ago
Complete problem: Total Net Operating Capital XYZ, Inc. reported $20 million in operating current assets, $25 million in net fix
Hitman42 [59]

Answer:

$14 million

Explanation:

Operating working capital  = Operating current assets - Operating current liabilities

Operating working capital = $20 million - $6 million

Operating working capital = $14 million

The total net operating capital that XYZ, Inc. has is $14 million

7 0
3 years ago
Carrying Amount $120,000 Selling Price $80,000 Costs of Disposal $5,000 Expected Future Cash Flows $90,000 Present Value of expe
frez [133]

Answer:

$35,000

Explanation:

Under IAS 36, an asset is said to be impaired where the carrying amount is more than the recoverable amount.

The recoverable amount is the higher of the fair value less cost to sell or the value in use which is the present value of the expected future cashflow.

Given that;

Carrying Amount = $120,000

Selling Price = $80,000

Costs of Disposal = $5,000

Hence fair value less cost to sell = $80,000 - $5,000 = $75,000  

Expected Future Cash Flows = $90,000

Present Value of expected future cash flows = $85,000 ( this is the value in use)

Recoverable amount = $85,000 (since the value in use is higher that the fair value less cost to sell)

This is lower than the carrying amount hence the asset is impaired.

Impairment = $120,000 - $85,000

= $35,000

8 0
2 years ago
According to the Portland Business Journal, Jim Houser, a Portland auto specialist, landed a key Small Business Administration a
mario62 [17]

Answer:

reconciliate balance $ 22,388,675‬

Explanation:

bank statement:                18,835

deposits in transit           100,740

                                 22,376,200

outstanding check

  10189                            (56,710)

  10192                            (15,365)

  10193                           (22,650)

  10194                            (12,375)

Adjusted balance:  22,388,675‬

checkbook balance: 22,385,105

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      ATM card fees              (450)

  Adjusted balance:  22,388,675

Notes: For each statement we adjust for the unknown information.

The bank is unaware of the outstanding check and the deposit in transit.  So we adjust for these concepts.

The company has no knowledge of the ffes and interest earned until receiving the bank statement so we must adjust for that amount.

7 0
2 years ago
The Taylor rule specifies how policymakers should set the federal funds rate target. Suppose that U.S. real GDP rises 1% above p
VladimirAG [237]

Answer:

FED raise the federal funds rate target by 0.5%

FED raise the federal fund rate target by 2%

Explanation:

Taylor Rule states that Federal Funds should raise rates when inflation rises. When Gross domestic products growth of a country is high and above potential level then FED should raise rates. When inflation rises by 1% above target level then federal funds should raise FED by 2%.

6 0
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