Cave Hardware's forecasted sales for April, May, June, and July are $150,000, $250,000, $100,000, and $290,000, respectively. Sa
dmitriy555 [2]
Answer:
$160,000
Explanation:
The computation of budgeted cash payments in June is shown below:-
For computing the budgeted cash payments in June first we need to find out the may credit sales and June cash sales.
May credit Sales = May = $250,000 × 40% × 100%
= $100,000
and
June cash sales = $100,000 × 60%
= $60,000
Cash collection budgeted June = May credit Sales + June cash sales
= $100,000 + $60,000
= $160,000
Answer:
$62.00
Explanation:
Given data (Twersky Wedding):
Size-related: $1.15/guest
Complexity-related: $28.24/ tier
Order-related: $74.74/order
Guests: 120
Tiers 5
Order 1
Calculations:
Size related ($1.15 per guest × 120 guests): $138.00
Complexity-related ($28.24 per tier × 5 tiers): $141.20
Order-related ($74.74 per order × 1 order): $74.74
Cost of purchased decorations for cake: $54.66
______________________________________________
Total cost $408.60
Charges $470.60
Overall margin = Charges - Total cost = $470.60 - $408.60 = $62.00
Hope this helps!
Answer:
the journal entry to record bond issuance:
Dr Cash 1,444,000
Dr Discount on bonds payable 76,000
Cr Bonds payable 1,520,000
amortization of discount on bonds payable = $76,000 / 5 = $15,000
coupon payment = $91,200
total interest expense per year = $106,200
total interest expense for the 5 year period = $106,200 x 5 years = <u>$531,000</u>
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