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daser333 [38]
3 years ago
14

Rachel Robinson owns a small retail store in Cairo, Georgia. The following summary information regarding expectations for the mo

nth of January is provided: As of December 31, there is $1,000 in the bank and the balance in accounts receivable is $5,000. Budgeted cash and credit sales for January are $6,000 and $4,000, respectively. Ninety percent of credit sales are collected in the month of sale, and the remainder is collected in the following month. Rachel's suppliers do not extend credit. Cash payments for January are expected to be $24,000. Rachel has a line of credit that enables the store to borrow funds on demand. However, funds must be borrowed on the first day of the month and interest paid in cash on the last day of the month. Rachel's bank charges annual interest of 12% per year. Rachel desires a minimum $1,000 cash balance at the end of each month.
Business
1 answer:
Andrei [34K]3 years ago
3 0

Answer:

Check the explanation

Explanation:

   January  

Beginning Cash Balance                                   $1,000  

Add: Collection:    

December Sale ($5,000*10%)                           $500  

January Cash Sale                                             $6,000  

January Credit Sale ($4,000*90%)                   $3,600  

Total Cash Available a                                      $11,100  

Cash payment to suppliers b                          $24,000  

Cash deficit before financing a-b                   $-12,900  

Add: Borrowing  (Using permutation-comb.) $14,040  

                                                                                   

Less: Interest Payment                                      $-140  

$14,040*12%*1/12    

Ending Cash Balance                                        $1,000

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oronado Company has the following account balances: Purchases $95600 Sales Returns and Allowances 12600 Purchase Discounts 8300
Vladimir79 [104]

The cost of goods purchased for the period is $90,000 having the required account balances .

<h3>Account balances </h3>

An account balance is the amount of money present in a financial repository, such as a savings or checking account, at any given moment. The account balance is always the net amount after factoring in all debits and credits. An account balance that falls below zero represents a net debt—for example, when there is an overdraft on a checking account. For financial accounts that have recurring bills, such as an electric bill or a mortgage, an account balance may also reflect an amount owed.

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3 0
2 years ago
pany is considering the purchase of a new bubble packaging machine. If the machine will provide $15,000 annual savings for 12 ye
finlep [7]

Answer:

Present Value= $74,018.97

Explanation:

Giving the following information:

The machine will provide $15,000 annual savings for 12 years and can be sold for $48,000 at the end of the period.

Interest rate= 15%

<u>To determine the present value of the savings, first, we need to determine the future value at the rate provided.</u>

We need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual save

FV= {12,000*[(1.15^12)-1]}/ 0.15

FV= 348,020 + 48,000= $396,020

Now, we can calculate the present value:

PV= FV/(1+i)^n

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4 0
3 years ago
True or false: The transfer of costs from one inventory account to the next parallels the physical transfer of goods from one in
Ket [755]

The transfer of costs from one inventory account to the next parallels the physical transfer of goods from one inventory to the next is true.

<h3>What is an Inventory Account?</h3>

Inventory accounting is part of accounting that involves modifications in values and accounts or price of inventoried assests.

A company's inventory nvolves goods are grouped into three stages of production which are raw goods, in-progress goods, and finished goods that are ready for sale.

Therefore, The transfer of costs from one inventory account to the next parallels the physical transfer of goods from one inventory to the next is true because gross profit will be lower, income tax will be lower and the cost of goods will increase.

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7 0
2 years ago
Hokey​ Min's Kleen Karpet cleaned 75 rugs in​ October, consuming the following​ resources: ​Labor: 520 hours at ​$17 per hour ​S
Lorico [155]

Answer:

(a) 0.0085 rugs per dollar.

(b) 0.0069 rugs per dollar.

Explanation:

We have been given that Hokey​ Min's Kleen Karpet cleaned 75 rugs in​ October, consuming the following​ resources: ​Labor: 520 hours at ​$17 per hour.

(a) To find the labor productivity per dollar, we will divide number of rugs by amount spent on labor.

\text{Amount spent on labor}=\text{520 hours}\times \frac{\$17}{\text{Hour}}=\$8,840

\text{Labor productivity per dollar}=\frac{75\text{ rugs}}{\$8,840}

\text{Labor productivity per dollar}=\frac{0.0084841628959\text{ rugs}}{\$}

\text{Labor productivity per dollar}\approx \frac{0.0085\text{ rugs}}{\$}

Therefore, the labor productivity is 0.0085 rugs per dollar.

(b) To find the multi-factor productivity, we will divide number of rugs by total cost or expenses.

\text{Cost of solvent}=100\text{ gallons}\times \frac{\$5}{\text{ gallons}}=\$500

\text{Machine rental}=20\text{ days}\times \frac{\$75}{\text{day}}=\$1500

\text{Total expenses}=\text{Labor cost+Solvent cost+Machine rental}

\text{Total expenses}=\$8,840+\$500+\$1500

\text{Total expenses}=\$10,840

\text{Multi-factor productivity per dollar}=\frac{75\text{ rugs}}{\$10,840}

\text{Multi-factor productivity per dollar}=\frac{0.006918819\text{ rugs}}{\$}

\text{Multi-factor productivity per dollar}\approx \frac{0.0069\text{ rugs}}{\$}

Therefore, the multi-factor productivity is 0.0069 rugs per dollar.

7 0
3 years ago
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Gre4nikov [31]

The anticholinergic psychedelics increases pupil size and increase heart rate, respectively. 

Deliriants are a class of hallucinogen. The term was introduced by David F. Duncan and Robert S. Gold to distinguish these drugs from psychedelics and dissociatives, such as LSD and ketamine respectively, due to their primary effect of causing delirium, as opposed to the more lucid states produced by other hallucinogens (psychedelics and dissociatives).

4 0
3 years ago
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