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nasty-shy [4]
2 years ago
7

Eastern Auto Parts Inc. has 25 percent of its sales paid for in cash and 75 percent on credit. All credit accounts are collected

in the following month. Assume the following sales: January $ 83,000 February 73,000 March 118,000 April 63,000 Sales in December of the prior year were $93,000. Prepare a cash receipts schedule for January through April.
Business
2 answers:
Roman55 [17]2 years ago
6 0

Answer:

sorry just for pointsssss

anygoal [31]2 years ago
3 0

Answer:

sorry just for points

#itzurbanda

✌✌✌✌✌✌✌✌

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What budgeting option is best used only with limited resources and expenses?
4vir4ik [10]

Answer: Mental budgeting.


Explanation: This concept is very much in consistent with the concept of mental accounting. The concept of mental accounting says that a person has already classified the areas where he will be spending his income and each area has its own importance and is given particular amount to that. Contrary to this, however, the mental budgeting is the phenomenon which uses the same technique but in such a way that it calculates the amount to be spend on multiple areas beforehand and using the rational cognitive ability, imagine the possibility that if an area would be left without spending money on that, would that help him save or not.

4 0
3 years ago
Read 2 more answers
Ardent Industries is considering starting a retirement plan for its 850 employees. One option company managers are considering i
Nitella [24]

Answer:

A company that establishes a profit-sharing plan must make annual contributions to the plan, even if the company fails to earn a profit during the year.

Explanation:

A profit sharing plan is defined as the type of contribution plan where the plan helps in saving for the retirement of the employees while providing them the flexibility of the plan features. It is a way for the owners of the business to share the profits with the investors and also a great way to attract investment in his business.

In a profit sharing plan, the organization does not have to make or contribute any amount to the plan annually. Such a plan is best suited for the companies which experiences a fluctuating cash flow.

6 0
2 years ago
Prepare journal entries to record the following four separate issuances of stock. A corporation issued 10,000 shares of $20 par
AleksAgata [21]

Answer: Please see explanation column for answers

Explanation:

Accounts and explanation           Debit                     Credit

1                    Cash                  $240,000  

Common Stock (10,000 X 20)                                      $200,000

Paid in Excess of Par- Common Stock

($240,000- 200,000)                                                    $ 40,000

(Being common shares issued for cash)  

2. Organisation  Expenses                $36,000

Common Stock (5000x1)                                                   $5000

Paid in Excess of Par- Common Stock = 36,000-5000  $31,000

(Being common shares issued to promoters)  

3 Organisation  Expenses           $36,000    

      Common Stock                                                         $36000

Since There is no stated value,  paid in excess of par will not be calculated 

4 Cash                                         $98,500  

Preferred Stock (2500 x 25)                                             $62,500

Paid in Excess of Par- Preferred Stock

(98,500- 62,500)                                                               $36,000

(Being preferred shares issued for cash)  

8 0
3 years ago
The Sisyphean Company is planning on investing in a new project. This will involve the purchase of some new machinery costing $4
andrezito [222]

Answer:

c.$176,720

Explanation:

Calculation for The NPV for this project

NPV=-450,000+200,000 / (1.16)^1+225,000 / (1.16)^2+275,000 / (1.16)^3+200,000 / (1.16)^4

NPV=-450,000+172,414+167,212+176,181+110,458

NPV=176,720

Therefore The NPV for this project is closest to :176,720

5 0
3 years ago
Max and Lew have entered into a contract for Lew to paint Max’s house. The contract specifically states that the job was to be c
mars1129 [50]

Answer:

The correct answer is letter "D": nominal damages.

Explanation:

Nominal damages are granted as monetary rewards when a legal fault takes place but there has not been substantial damage because of it. It is said that the fact of granting the fault represents more of a moral act. Usually, if awarded, the plaintiff may receive $1 or $2.

In the case, as Max suffered no loss because of Lew's delay while painting his house, if he decides to sue him he will be awarded nominal damage for the contract breach.

3 0
3 years ago
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