PLEASE HELP Just give me ideas please

The ABC Corporation makes collections on sales according to the following schedule: 25% in month of sale 71% in month following

Sedbober [7]

Answer:

Budgeted cash collection in June=$110,300

Explanation:

Budgeted cash collection in June will be determined as follows:

Month of sale collection

= 25%×June sales = 25%× 100,000= 25,000

Month following sales collection

71%× May sales= 71% × 110,000 = 78,100

Second month following sales collection

4%× April Sales = 4%× 180,000= 7200

Budgeted cash collection in June= 25,000 + 78,100 + 7200 =110,300

Budgeted cash collection in June=$110,300

6 0

3 years ago

Kingbird Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 3

hodyreva [135]

Explanation:

As we know that the inventory should be recorded at the lower cost or net realizable value whichever is lower

And, the same is shown on the attachment which is attached below:

The net realizable value for each products is computed by

= D - C - E

The DCE are the rows of the attached spreadsheet

And, the proper unit value for each products is as follows

Product Lower of cost or NRV

D 92

E 75

F 73

G 43

H 61

I 44

5 0

4 years ago

In may, the price of a pair of jeans was 250% of its wholesale cost. in june, the price was reduced by 25%. after an additional

Lorico [155]

We have to go backwards:
After the discount in July ( 50 % ), the cost of jeans is $25.50
So the price before this discount was 2 * $22.50 = $45
In June, the price was reduced by 25%.
45 ------------------75%
x --------------------100 %
45 : x = 75 : 100
45 * 100 = 75 x
4,500 = 75 x
x = 4,500 : 75
x = $60
Finally, in May the price was 250% of its wholesale cost.
60 ----------------- 250%
x -------------------100 %
60 : x = 250 : 100
6,000 = 250x
x = 6,000 : 250
x = $24
Answer: The cost of the jeans in the wholesale was $24.

4 0

3 years ago

Read 2 more answers

It costs a company $14 of variable costs and $6 of fixed costs to produce product Z200 that sells for $30. A foreign buyer offer

Andrej [43]

Answer:

the net income would be decreased by $3,000

Explanation:

The computation of the net income is shown below;

Total cost is

= $14 + $5

= $19 per unit

And, the Selling price is $18 per unit

Now

Income = Revenue - Cost

= $18 - $19

= -1 per unit

And, finally

Total Income = 3000 units × (-1)

= -$3000

Hence, the net income would be decreased by $3,000

7 0

3 years ago

At the end of the year, a company reports a balance in its Allowance for Uncollectible Accounts of $1,700 (debit) before any yea

iren2701 [21]

Answer:

Bad debt expense $11,320 ($283,000 × 4%)

To Allowance for doubtful debts $11,320

(being the bad debt expense is recorded)

Explanation:

The journal entry is shown below:

Bad debt expense $11,320 ($283,000 × 4%)

To Allowance for doubtful debts $11,320

(being the bad debt expense is recorded)

For recording this given transaction, we debited the bad debt expense as it increases the expenses account and at the same time it decreases the account receivable so the allowance would be credited so that the proper posting could be done

7 0

3 years ago