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Lorenzo Company sells goods under the terms 2/15, n/30. It uses the calendar month as its reporting period. Its cost of goods is 80% of selling price and its historical experience is that on average of 30% of sales gets paid within the discount period. Its October 31st balance sheet shows a balance of $1,000 in the Provision/Reserve for Sales Discounts account. For the month of November, Lorenzo reported gross sales revenue of $800,000. During November, discounts were availed for gross sales of $200,000, of which $60,000 was from sales in October and the remaining $140,000 was from sales in November. (a) What is the amount of net sales revenue that Lorenzo should report on its November income statement? (b) What is the amount of COGS that Lorenzo should report on its November income statement? (c) What amount should Lorenzo report as the balance in the Provision/Reserve for Sales Discounts account on its November 30th balance sheet?
your uncle is considering investing in a new company that will produce high quality stereo speakers. the sales price
Corporate valuation Smith Technologies is expected to generate $50 million in free cash flow next year, and FCF is expected to grow at a constant rate of 3% per year indefinitely. Smith has no debt or preferred stock, and its WACC is 11%. If Smith ha..
Kirkpatrick's Levels and Transfer of training what descriptions of level 2 and level 3 are very similar. What is the primary difference between the two? Are they measured differently? Take another look at Level 5. Is ROI just beneficial to the organi..
You have been hired as store manager for a national retailer. The facility is large, with over 40 full-time employees. Your first goal is to increase overall revenue by encouraging sales associates to upsell and cross-sell products. You will measure ..
John is a 24 year old retail employee. John loses his job. He actively seeks work for many months as his savings dwindle and his unemployment insurance benefits are exhausted. In order to avoid eviction, John borrows $1,000 from the local CashFast gr..
What tools can you use to support conference management? You might have to conduct research to identity contemporary conference management tools ? Identify and describe at least 5. How can you plan a conference and set conference milestones ?
Over the course of this unit, we have discussed the importance of mission and vision statements. As a part of that discussion, we analyzed mission and vision statements for their effectiveness.
Business problems are basically information problems because if a company had all the necessary information, it could solve the problems. Using the CSU Online Library, explore the topic of how research is conducted in organizations to address problem..
Devise a plan to investigate the validity of patients’ claims of denial of services. This plan should include, but not be limited to, establishing mechanisms to address service denial claims, a human resources component, and a review of related polic..
Which of the following consists of workers and supervisors who meet regularly to address work-related problems involving quality and productivity? Which of the following is one of the three major activities in process management that focuses on maint..
Each week you will work on one aspect that will help you prepare for the course and reflect. Consider this Journal as study notes. This Journal will provide an opportunity to capture new ideas from knowledge gained and record your thoughts through..
determine the percentage of idle time that would result if two stations were used and each station was loaded with the
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