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Question: Richards Corporation had the following budgeted sales for the first half of next year: Cash Sales Credit Sales January $60,000 $160,000 February $65,000 $180,000 March $49,000 $140,000 April $54,000 $149,000 May $64,000 $210,000 June $90,000 $390,000 The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled: Collections on credit sales: 50% in month of sales 45% in month of following sales 5% in second month following sales The accounts receivable balance on January 1 is $79,000. Of this amount, $50,000 represents uncollected December sales and $29,000 represents uncollected November sales. What is the budgeted accounts receivable balance on May 30?
$112,450
$162,450
$50,000
Financial Statements of ABC Corp. indicates that ending inventory levels in 2010 and 2011 were $200,000 and $350,000 respectively. Net Sales for 2010 and 2011 were $5,000,000 and $5,500,000 respectively. Cost of Goods sold for 2010 and 2011 were $..
carter company earned net income of 350000 last year. this year it wants to earn net income of 450000. the companys
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you want to purchase a new car for 29000 tow financing options are available from the dealer. 1 pay the list price with
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The following questions dealing with pensions and other postretirement benefits are adapted from questions that previously appeared on Certified Management Accountant (CMA) examinations.
Charles, a financial consultant, has been self-employed for two years. His list of clients has grown, and he is earning a reputation as a shrewd investor.
Joey parked his car on the top of a hill when he went to watch the Superbowl games in San Diego. He did not properly set his brakes or curb the wheels when he packed the car.
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