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Use the given information to create a cash budget for Knightsbridge Corporation for the month of June 2012. The template of the cash budget is given below.
In May, 30-day credit sales were $175,000; 80 percent of this amount is evaluated to be collectible in June.
June sales are evaluated $425,000; cash sales are generally 25% of total sales. Only 10% of credit sales are collected in the month in which the sale is made.
Total fixed expenses are $60,000 per month, adding $26,000 depreciation. Variable expenses are 55 percent of sales. All expenses requiring payment are paid in cash when incurred.
A $40,000 note payable must be paid on 30th June.
As of 31st May, the cash balance is $94,000.
How did Sprint report the debt in its balance sheet? Why?
Evaluate the cost amount per unit and total manufacturing costs for the production and sale of 5,000 units of cellular phones. Evaluate the product cost markup percentage rounded to two decimal places for cellular phones.
Calculate the merchandise inventory values
Purpose a statement of retained earnings for the year ending 31 st December, 2011.
Payment of cash dividends are recorded as a decrease in cash and an increase in expenses a decrease in cash and a decrease in retained earnings an increase in dividend expense and a decrease in cash a decrease in cash and a decrease in..
Evaluate the current competitive environment of Maple Hill Dairy Farm.
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Explain the action, if any, you would recommend to management in relation to the accounting treatment of every items.
What are the expected rates of reimbursement for this time frame for each payer
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How many shares of ordinary stock are outstanding at year-end?
Essential business deductions in each of the subsequent situations.
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