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Question - Supposed a company has the following data:
Accounts Receivable, May 31st: (2x May sales 360, 000)=720,000
Monthly forecast sales: June, $437,000.00 July, $441,000.00 August $502,000.00
Sales consist of 80% cash and 20% percent credit Are credit accounts are collected in the months following the sales. Uncollected accounts are negligible and maybe ignored ignored.
Prepare a sale budget schedule and a cash collection budget schedule for June, July, and August.
Suppose, in 2018, a customer offered to pay $6.00 per kg for a special order of 70,000 kg, should Case Hardware accept or reject the offer
Which of the following fund types uses the modified accrual basis of accounting?
a invoice has done value 100 for 10 units 10 per unit but supplied 11 units 1 unit as discount and also collect 100
Mary and Jane, unrelated taxpayers, hold Gray Corporation's stock equally. One year before the complete liquidation of Gray, Mary transfers land (basis of $600,000, fair market value of $180,000) to Gray Corporation as a contribution to capital.
It can borrow at a rate of 7.5%, but the bank requires it to have a TIE of at least 4.0, and if the TIE falls below this level the bank will call in the loan and the firm will go bankrupt. What is the maximum debt ratio the firm can use?
Assume the same facts as in QS15 8 except that the stock acquired represents 40% of ORD Corp.'s outstanding stock.
the colorado company manufactures a product that goes through three processing departments. information relating to
Entries for Available-for-Sale and Trading Securities the following information is available for Kinney Company at December 31, 2010, regarding its investments.
Prepare a report for the board that either recommends the proposed changes or does not recommend the changes.
5% on the first day of the current fiscal year, 1,500,000 of 10-year, 8% bonds, with interest payable semiannually, were sold for 1,225,000, Present entries to record the following transactions for the current fiscal year:
shulas 347 grill has budgeted the following costs for a month in which 1600 steak dinners will be produced and sold
In 2012, Warren sold his personal use automobile for a loss of $9,000. He also sold a personal coin collection for a gain of $10,000. As result of these sales, $1,000 is subject to income tax.
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