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The ZYX Corporation is planning to request a line of credit from its bank and wants to estimate its cash needs for the month of September. The following sales forecasts have been made for 2005:
July $500,000
August $400,000
September $300,000
October $200,000
November $100,000
Collection estimates were obtained from the credit collection department as follows: 20% collected within the month of sale; 70% collected the first month following the sale; and 10% collected the second month following the sale. Payments for labor and raw materials are typically made in the month in which these costs are incurred. Total labor and raw material costs each month are 50% of sales. General administrative expenses are $30,000 per month, lease payments are $10,000 per month, and depreciation charges are $20,000 per month. The corporation tax rate is 40%; however, no corporate taxes are paid in September. Prepare a cash budget for September.
get real inc. recently switched to activity-based costing from the department allocation method. the fabrication
Fancy has a unit contribution margin of $120 and takes three machine hours to make. There are 2,400 machine hours available to manufacture a product. What should Dye do
If the recorded value of a note differs from the face value: a. Explain how the company should account for the difference. b. Explain how the company should present this difference in the financial statements.
hammer inc. had the following activities during 2012 direct materials beginning
In june 2009, joanne invested for a 20% interest in a limited liability company in which she is a material participant. The LLC reported losses of $340,000 in 2009 and $180,000 in 2010. Joanne's share of the LLC's losses was $68,000 in 2010 and $3..
Immediately after Adam's admission to the partnership, Leah sells one-fourth of her interest to Denton for $35,000. Journalize the entry to record this transaction.
Given the current economic environment, assess whether or not a company is most likely to expand through internal or external (i.e., merger or acquisition) options. Provide support for your rationale
clark paints the production department has been investigating possible ways to trim total production costs. one
1. Develop journal entries for all of the accounting transactions in January for Fishy Farm. 2. Create an income statement for the month of January for Fishy Farm.
the cardinal co. produces t-shirts for promotion. the costs of producing and selling a single t-shirt at the companys
Journalize the assignment of these costs to the two processes and the transfer of units as appropriate.
northern manufacturing company found that during the last year it took an average of 43 days to pay its suppliers while
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