Answer:
FV= $126,585.60
Explanation:
Giving the following information:
Monthly deposit (A)= $1,721
Interest rate (i)= 0.08/12= 0.0067
Number of periods (n)= 12*5= 60 months
To calculate the future value, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= monthly deposit
FV= {1,721*[(1.0067^60) - 1]} / 0.0067
FV= $126,585.60
Finerly Corporation sells cosmetics through a network of independent distributors. Finerly shipped cosmetics to its distributors and is considering whether it should record $300,000 of revenue upon shipment of a new line of cosmetics. Finerly expects the distributors to be able to sell the cosmetics, but is uncertain because it has little experience with selling cosmetics of this type. Finerly is committed to accepting the cosmetics back from the distributors if the cosmetics are not sold. How much revenue should Finerly recognize upon delivery to its distributors?
Answer: $0
Explanation:
When there is an expectation of reversal of the goods back to the company due to factors arising from a delay in the delivery of the goods or other factors that could not be controlled, the revenue recognized should be $0.
In this scenario, Finerly is uncertain about the ability of the goods to be sold by the distributors and is committed to accepting the cosmetics should they not sell.
As they have little experience which means that they will be unable to control much unforeseen factors, there is an expectation of reversal so revenue should be recognized at $0 on delivery. Revenue will only be recognized after sales.
The market price of a security is $46. Its expected rate of return is 10%. The risk-free rate is 4%, and the market risk premium is 9%. What will the market price of the security be if its beta doubles (and all other variables remain unchanged)
Answer:
The new Market price =$28.75
Explanation:
According to the Capital Asset Pricing Model CAPM, we have that
Expected return= risk free rate+(beta X market risk premium)
10=4+ beta x 9
= 10- 4 = beta x 9
beta =6 /9 =0.666
IF beta doubles with other variables constant
Expected return= risk free rate+(betaXmarket risk premium)
Beta= 0.666 x2 =1.3333
Expected return = 4+ 1.333 x 9
Expected return 4+ 12=16%
Price = Perpertual Dividend /Expected return
where Current Share price =$46
Dividend = $46 x 10%=4.6
The new Market price = Perpetual dividend/New Required return
= 4.6/16% =$28.75
So the new Market price =$28.75
McBurger, Inc., wants to redesign its kitchens to improve productivity and quality. Three designs, called designs K1, K2, and K3, are under consideration. No matter which design is used, daily production of sandwiches at a typical McBurger restaurant is for 500 sandwiches. A sandwich costs $1.20 to produce. Non-defective sandwiches sell, on the average, for $2.50 per sandwich. Defective sandwiches cannot be sold and are scrapped.
The goal is to choose a design that maximizes the expected profit at a typical restaurant over a 300-day period. Designs K1, K2, and K3 cost $100,000, $130,000, and $150,000, respectively. Under design K1, there is a .80 chance that 90 out of each 100 sandwiches are non-defective and a .20 chance that 70 out of each 100 sandwiches are non-defective. Under design K2, there is a .85 chance that 90 out of each 100 sandwiches are non-defective and a .15 chance that 75 out of each 100 sandwiches are non-defective. Under design K3, there is a .90 chance that 95 out of each 100 sandwiches are non-defective and a .10 chance that 80 out of each 100 sandwiches are non-defective.
The expected profit level of design K1 is $____.
The expected Profit leve of design K2 is___.The expected profit level of design k3 is___.
Answer:
McBurger, Inc.
The expected profit level of design K1 is $_42,500__.
The expected Profit level of design K2 is_19,063__.
The expected profit level of design k3 is_20,625__.
Explanation:
a) Data and Calculations:
Daily production units at a typical McBurger restaurant = 500 sandwiches
Yearly production units =150,000 (500 * 300)
Unit production cost of a sandwich = $1.20
Selling price of non-defective sandwich = $2.50
Design K1 Design K2 Design K3
Calculation of non-defective units:
0.80 * 90/100 * 150,000 108,000
0.20 * 70/100 * 150,000 21,000
0.85 * 90/100 * 150,000 114,750
0.15 * 75/100 * 150,000 16,875
0.90 * 95/100 * 150,000 128,250
0.10 * 80/100 * 150,000 12,000
129,000 131,625 140,250
Sales Revenue $322,500 $329,063 $350,625
Production cost (180,000) (180,000) (180,000)
Cost of design (100,000) (130,000) (150,000)
Expected profit $42,500 $19,063 $20,625
Sales revenue = Non-defective sandwiches * $2.50
Product cost = Production units * $1.20
Expected profit = Sales Revenue - (Product cost + Design cost)
On 1/29, General Electric bought supplies in the amount of $1,500. What account is debited and what account is credited in the required journal entry for General Electric on 1/29? (Select ALL that apply)
Answer: Debit Supplies
Credit Cash
Credit Accounts payable.
Explanation:
The journal entry is an act of making records of the transactions in an organization which shows the debit and credit balances of the company.
Based on the information given, since General Electric bought supplies in the amount of $1,500, the journal entry will be:
Debit Supply $1500
Credit Cash / Accounts Payable $1500
Sam's Cat Hotel operates 51 weeks per year, 6 days per week. It purchases kitty litter for $6.50 per bag. The following information is available about these bags: ≻Demand = 70 bags/week ≻Order cost = $75/order ≻Annual holding cost = 22 percent of cost ≻Desired cycle-service level=99 percent ≻Lead time = 1 week(s) (6 working days) ≻Standard deviation of weekly demand = 7 bags ≻Current on-hand inventory is 200 bags, with no open orders or backorders. Suppose that Sam's Cat Hotel uses a P system. The average daily demand, d, is 12 bags (70/6), and the standard deviation of daily demand, Standard Deviation of Weekly Demand Days per Week, is 2.858 bags.
Current on-hand inventory is 320 bags, with no open orders or backorders.
Required:
a. What is the EOQ? What would the average time between orders (in weeks)?
b. What should R be?
c. An inventory withdraw of 10 bags was just made. Is it time to reorder?
d. The store currently uses a lot size of 500 bags (i.e., Q=500). What is the annual holding cost of this policy? Annual ordering cost? Without calculating the EOQ, how can you conclude lot size is too large?
e. What would be the annual cost saved by shifting from the 500-bag lot size to the EOQ?
Answer: B
Explanation:
The Bronco Corporation exchanged land for equipment. The land had a book value of $125,000 and a fair value of $160,000. Bronco received $15,000 from the owner of the equipment to complete the exchange which has commercial substance. Required: 1. What is the fair value of the equipment
Answer:
The Bronco Corporation
The fair value of the equipment is:
= $145,000.
Explanation:
a) Data and Calculations:
Book value of land = $125,000
Fair value of the land = $160,000
Amount received from the equipment owner in exchange = $15,000
Fair value of the equipment = $145,000 ($160,000 - $15,000)
b) This simply means that the equipment is worth less than the land which is exchanged between Bronco and the equipment owner.
What is the purpose of using predetermined overhead rates: Variation in cost assignment due to short-term variations in volume can be prevented Delays in product costing can be avoided Variation in cost assignment due to seasonality can be prevented. All of the answers are correct.
Answer:
All of the answers are correct.
Explanation:
At the beginning of the accounting period a pre-determined overhead is computed by dividing the estimated overhead production by the estimated basis of operations. The default overhead rate is then applied to manufacturing, so that the standard cost for a product may be calculated
The purpose of using pretermined overhead rates are
Delays in product costing can be avoided
Variation in cost assignment due to seasonality can be prevented
Variation in cost assignment due to short-term variations in volume can be prevented
The Use of predetermined overhead rates serves all the above purposes
Hence, all answers are correct.
Janson Company prepares an income statement for financial accounting purposes using the traditional income statement format, as well as an income statement for managerial accounting purposes using the contribution margin format. Selected information from both income statement formats are as follows:
Revenues $200,000
Cost of goods sold $40,000
Contribution ion margin ratio 50%
Operating expenses $120,000
Fixed expenses $60,000
Required:
Using the contribution margin format, operating income is:_______
Answer:
500$0000$0000
Explanation:
The resistance of employees in an organization against flexibility, growth, and diversification can be overcome by developing______________________.
On June 30, 2024, L. N. Bean issued $20 million of its 8% bonds for $18 million. The bonds were priced to yield 10%. Interest is payable semiannually on December 31 and July 1. If the effective interest method is used, how much bond interest expense should the company report for the 6 months ended December 31, 2024
Answer:
Explanation:
Interest expense for 6 months ended Dec 31, 2024 = issue price of bonds* market interest rate
= $18,000,000* 10%*6/12
= $900,000
stock co uses a job costing system the following debts appeared in stock work in process account for the month of april balance 4300 direct materials 26,4000 rate of 80% direct labor of 2300 what was the amount og direct materials charged to job no 5
Answer:
See below
Explanation:
The above information is incomplete. Concluding part from similar question is seen below.
Direct labor $16,000
Factory overhead $12,800
To finished goods ($48,000)
Therefore, the amount of direct materials charged to job is computed as;
= Balance + Direct materials + Direct labor + Factory overhead - Finished goods
= $4,300 + $26,400 + $16,000 + $12,800 - $48,000
= $11,500
The next step is to deduct the job Still in work in process charged with direct labor.
= $11,500 - $2,300
= $9,200
Hence, the amount of direct materials charged to job no 5 is $9,200
Isabella wants to gather competitive intelligence (CI) on toy manufacturers before she launches her toy company, which has developed remote-controlled dinosaurs. Her dinosaurs are designed for children over 6 years old. Isabella plans to check some noncomputer sources. She could use all of the following sources EXCEPT _______.
a. Ci consultants
b. industry experts
c. suppliers
d. scanner research
Answer:
d. scanner research
Explanation:
The scanner research includes the data analyze that collected via scanning the devices and same is applied at the time of purchase. It is the type of the computer based research and she wants to check that non-computer sources
So the other options would not be considered as they are doing for the research purpose
But the above option is not considered for the same
Therefore the option d is correct
Gore organized on January 2, 2021, had pretax accounting income of $7,100,000 and taxable income of $10,160,000 for the year ended December 31, 2021. The 2021 tax rate was 25%. The only difference between book and taxable income is estimated warranty costs. Expected payments and scheduled enacted tax rates are as follows:
2022 $1,020,000 30%
2023 510,000 30%
2024 510,000 30%
2025 1,020,000 35%
Required:
Prepare one compound journal entry to record Gore's provision for taxes for the year 2021.
Answer:
Date Account title Debit Credit
12/31/2021 Income tax expense $3,060,000
Deferred tax asset $ 969,000
Income tax payable $4,029,000
Explanation:
2021 Income tax expense from warranty costs:
= Taxable income - Pretax accounting income
= 10,160,000 - 7,100,000
= $3,060,000
Tax on the warranty payments will be treated as deferred tax assets so the total is:
= (1,020,000 * 30%) + (510,000 * 30%) + (510,000 * 30%) + (1,020,000 * 35%)
= $969,000
Fiscal policy is Question 20 options: the money supply policy that the Fed pursues to achieve particular economic goals. the spending and tax policy that the government pursues to achieve particular macroeconomic goals. the investment policy that businesses pursue to achieve particular macroeconomic goals. the spending and saving policy that consumers pursue to achieve particular macroeconomic goals. none of the above
Answer:
the spending and tax policy that the government pursues to achieve particular macroeconomic goals.
Explanation:
Fiscal policy in economics refers to the use of government expenditures (spending) and revenues (taxation) in order to influence macroeconomic conditions such as Aggregate Demand (AD), inflation, and employment within a country. Fiscal policy is in relation to the Keynesian macroeconomic theory by John Maynard Keynes.
A fiscal policy affects combined demand through changes in government policies, spending and taxation which eventually impacts employment and standard of living plus consumer spending and investment.
Fiscal policy typically includes the spending and tax policy that a government pursues in order to achieve particular macroeconomic goals such as price level, economic growth, Gross Domestic Product (GDP), inflation, unemployment and national income levels with respect to the central bank, demand or supply shocks, government policies, aggregate spending and savings.
According to the Keynesian theory, government spending or expenditures should be increased and taxes should be lowered when faced with a recession, in order to create employment and boost the buying power of consumers.
Generally, an economy will return to its original level of output (production) and price level when the short-run aggregate supply curve falls (decreases) and no changes in monetary and fiscal policies are implemented.
As of Dec. 31, 2013, a company had current assets of $600,000 and current liabilities of $300,000. Sales of the company are expected to increase by 10 percent for each of the next two years. If all current assets and current liability accounts increase proportionately with sales, what would be the projected current ratio of the company on Dec. 31, 2015
Answer:
2.00
Explanation:
Calculation to determine what would be the projected current ratio of the company on Dec. 31, 2015
Using this formula
Current ratio =Current assets/ Current liabilities
Let plug in the formula
Current ratio =$600,000 /$300,000
Current ratio =2.00
Therefore the projected current ratio of the company on Dec. 31, 2015 is 2.00
The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45. 20Y3 20Y2 20Y1 Accounts receivable, end of year $710,000 $630,000 $565,000 Sales on account 5,691,000 4,628,500 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Assume a 365-day year. Do not round intermediate calculations. Round your answers to one decimal place. 20Y3 20Y2 1. Accounts receivable turnover fill in the blank 2 fill in the blank 3 2. Number of days' sales in receivables fill in the blank 4 days fill in the blank 5 days The collection of accounts receivable has . This can be seen in both the in accounts receivable turnover and the in the collection period.
Answer:
Sigmon Inc.
1. Accounts receivable turnover = Sales/Average accounts receivable
20Y3 = 8.49x
20Y2 = 7.75x
2. Number of days sales in receivables = 365/Accounts receivable turnover
20Y3 = 43 days
20y2 = 47.1 days
3. The collection of accounts receivable has improved from 47.1 days to 43 days. This can be seen in both the in accounts receivable turnover and the in the collection period.
Explanation:
a) Data and Calculations:
Terms of all sales are 2/10, n/45
20Y3 20Y2 20Y1
Accounts receivable, end of year $710,000 $630,000 $565,000
Sales on account 5,691,000 4,628,500
Average accounts receivable 670,000 597,500
1. Accounts receivable turnover = Sales/Average accounts receivable
20Y3 = 8.49x ($5,691,000/$670,000)
20Y2 = 7.75x ($4,628,500/$597,500)
2. Number of days sales in receivables = 365/Accounts receivable turnover
20Y3 = 43 days (365/8.49)
20y2 = 47.1 days (365/7.75)
A perfectly elastic supply curve is: Group of answer choices upward sloping to the right. vertical. horizontal. downward sloping to the left.
Answer:
vertical
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one
Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.
Martinson Inc. manufactures industrial-sized landscaping trailers and uses budgeted machine-hours to allocate variable manufacturing overhead. The following information pertains to the company's manufacturing overhead data: Budgeted output units 40,000 units Budgeted machine-hours 10,000 hours Budgeted variable manufacturing overhead costs for 40,000 units $310,000 Actual output units produced 36,500 units Actual machine-hours used 14,600 hours Actual variable manufacturing overhead costs $350,400 What is the budgeted variable overhead cost rate per output unit
Answer:
Overhead rate per unit= $124
Explanation:
Giving the following information:
Budgeted output units 40,000 units
Budgeted machine-hours 10,000 hours
Budgeted variable manufacturing overhead costs for 40,000 units $310,000
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 310,000 / 10,000
Predetermined manufacturing overhead rate= $31 per machine hour
Now, for each unit:
Machine hours per unit= 40,000/10,000= 4
Overhead rate per unit= 31*4
Overhead rate per unit= $124
When one gas station lowers its price a penny, the station on the other corner of the intersection lowers its price, followed by the gas stations on the next block, and so on, until nearly every gas station in town has lowered its price. This situation illustrates ________.a. a differentiation strategy.b. intense rivalry among competitors.c. the treat of substitutes.d. a cost leadership strategy.
Answer:
b. intense rivalry among competitors.
Explanation:
In the market place competitors exist trying to gain an upper hand over each other. They do this by adopting a strategy that will give them an edge over the other firms.
Some examples of strategy used by competitors to get ahead include differentiation strategy and price leadership strategy.
In the given scenario one gas station lowers its price a penny. Because of intense rivalry between competitors they did not allow the gas station maintain the price advantage.
Rather the station on the other corner of the intersection lowers its price, followed by the gas stations on the next block, and so on, until nearly every gas station in town has lowered its price.
An electronics firm produces smart phones for sale to the worldwide market. One of the most crucial process-related competitive operational priorities for this firm is:
Answer:
Flexibility
Explanation:
Given that there are three types of process-related competitive priorities in which firms utilize to remain competitive in the market. These processes include:
1. flexibility
2. Innovation
3. sustainability
Flexibility in this situation is mostly referred to as adaptation to market changes. Given that this is a technological market, and it is often bound to quick changes and dynamism, especially in terms of customer taste and preferences, huge competitors, and shorter span of the technological product,
Hence, for this electronic company making smartphones, one of the most crucial process-related competitive operational priorities for the firm is Flexibility. This is due to various competitors coming with new models in short stints.
At December 31, 2007 Polk Company had 300,000 shares of common stock and 10,000 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2007 or 2008. On January 30, 2008, Polk declared a 100% stock dividend on its common stock. Net income for 2008 was $950,000. In its 2008 financial statements, Polk's 2008 earnings per common share should be
Answer:
Polk Company
In its 2008 financial statements, Polk's 2008 earnings per common share should be:
= $1.42.
Explanation:
a) Data and Calculations:
December 31, 2007
Common stock outstanding = 300,000 shares
5%,Cumulative preferred stock outstanding, $100 par value = 10,000 shares
January 30, 2008 Stock dividend on common stock = 100% = 300,000 shares
Common stock outstanding = 600,000 shares
Net income for 2008 = $950,000
Cumulative preferred stock dividends:
2007 = $50,000
2008 = 50,000
Total = $100,000
Earnings for common stockholders = $850,000
Earnings per common share = $1.42
f an asset was purchased on January 1, Year 1, for $140,000 with an estimated life of 5 years, what is the accumulated depreciation at December 31, Year 4
Answer:
The answer is "[tex]\$ 112,000[/tex]"
Explanation:
[tex]\text{Straight-line method depreciation}=\frac{Asset\ costs}{Utility \ of \ life}[/tex]
[tex]= \frac{\$ 140,000}{5}\\\\= \$ 28,000[/tex]
On 31 December, accumulated depreciation:
[tex]= 4 \ years \times \$ 28,000\\\\=\$ 112,000[/tex]
Macon Publishing reports the following information about resources. At the beginning of the year, Macon estimated it would spend $39,720 for setups and $21,000 for clerical. The unused resource capacity for setups for Macon Publishing is:
Answer:
$10,000
Explanation:
Calculation to determine what The unused resource capacity for setups for Macon Publishing is:
Using this formula
Unused resource capacity =Clerical resources used -[(Clerical rate per page*Pages typed)
Let plug in the formula
Unused resource capacity=$20,000 – ($20*500)
Unused resource capacity=$20,000-$10,000
Unused resource capacity = $10,000
Therefore The unused resource capacity for setups for Macon Publishing is:$10,000
On January 1, a company issued and sold a $440,000, 6%, 10-year bond payable, and received proceeds of $434,000. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The carrying value of the bonds immediately after the first interest payment is:
Answer:
The carrying value of the bonds immediately after the first interest payment is $434,300.
Explanation:
Face value of the bond = $440,000
Proceeds from bond issue = $434,000
Discount on bond payable = Face value of the bond - Proceeds from bond issue = $440,000 - $434,000 = $6,000
Total number of seminual = Number of years of bond maturity * Number of semiannual in a year = 10 * 2 = 20
Discount amortizaton per semiannual = Discount on bond payable / Total number of seminual = $6,000 / 20 = $300
Carrying value after first interest payment = Proceeds from bond issue + Discount amortizaton per semiannual = $434,000 + $300 = $434,300
Therefore, the carrying value of the bonds immediately after the first interest payment is $434,300.
g Oriole Company uses the direct method in determining net cash provided by operating activities. The income statement shows income tax expense $85300. Income taxes payable were $34000 at the beginning of the year and $20500 at the end of the year. Cash payments for income taxes are
Answer:
the cash payment for the income tax is $71,800
Explanation:
The computation of the cash payment for the income tax is shown below;
= Income tax expense + decrease in income tax payable
= $85,300 + ($20,500 - $34,000)
= $85,300 + $20,500 - $34,000
= $71,800
Hence, the cash payment for the income tax is $71,800
The same is to be considered
Distribution Corporation collects 35% of a month's sales in the month of sale, 45% in the month following sale, and 20% in the second month following sale. Budgeted sales for the upcoming four months are:
The amount of cash that will be collected in July is budgeted to be
A. $66.500
B. $183,000
C. $171,000
D. $116, 500
Answer:
B. $183,000
Explanation:
Calculation to determine The amount of cash that will be collected in July is budgeted to be
Budgeted collection in July = July sales (190,000*35%) + June sales (210,000*45%) + May sales (110,000*20%)
Budgeted collection in July =$66,500 +$94,500 + $22,000
Budgeted collection in July=$183,000
Therefore The amount of cash that will be collected in July is budgeted to be $183,000
On February 5, McCracken Co. purchases 25 percent of Bradley Company common stock at a total cost of $90,000. Write the necessary adjusting entry.
Answer:
February 5
Dr Investment in Equity Shares $90,000
Cr Cash $90,000
Explanation:
Preparation of the necessary adjusting entries
Based on the information given we were told that the Company common stock was purchased at a total cost of $90,000 which means that the appropriate adjusting journal entry will be:
February 5
Dr Investment in Equity Shares $90,000
Cr Cash $90,000
:
More Hits Company manufactures aluminum baseball bats that it sells to university athletic departments. It has developed the following per unit standard costs for 2019 for each baseball bat:
Direct Materials Direct Labor Manufacturing Overhead
Standard Quantity 2 Pounds (Aluminum) 1/2 hour 1/2 hour
Standard Price $4.00 $10.00 $6.00
Unit Standard Cost $8.00 $5.00 $3.00
In 2019, the company planned to produce 120,000 baseball bats at a level of 60,000 hours of direct labor. Actual results for 2019 are presented below:
1. Direct materials purchases were 246,000 pounds of aluminum which cost $1,020,900.
2. Direct materials used were 220,000 pounds of aluminum.
3. Direct labor costs were $575,260 for 58,700 direct labor hours actually worked.
4. Total manufacturing overhead was $352,000.
5. Actual production was 114,000 baseball bats.
Compute the following variances and identify whether the variance is favorable or unfavorable:
1. Direct Materials Price
2. Direct Materials Quantity
3. Direct Labor Price
4. Direct Labor Quantity
5. Total Overhead Variances
Prepare the journal entries to record the transactions and events in 2019.
Answer: See explanation
Explanation:
AP = 4.15
SP = 4.0
SQ = 114000 × 2 = 228000
1. Direct Materials Price
= (AQ × AP) - (AQ × SP)
= (246000 × 4.15) - (246000 × 4.0)
= 1020900 - 984000
= 369000 U
2. Direct Materials Quantity
= (AQ × SP) - (SQ × SP)
where SQ = 114000 × 2 = 228000
= (220000 × 4.0) - (228000 × 4.0)
= 880000 - 912000
= 32000 F
3. Direct Labor Price
= (AH × AR) - (AH × SR)
= (58700 × 9.8) - (58700 × 10)
= 575260 - 587000
= 11740
4. Direct Labor Quantity
= (AH × SR) - (SH × SR)
where, SH = 114000 × ½ = 57000
= (58700 × 10) - (57000 × 10)
= 587000 - 570000
= 17000 U
5. Total Overhead Variances
= 352000 - (57000 × 6)
= 352000 - 342000
= 10000 Unfavorable
Check attachment for further details
Santos Co. is preparing a cash budget for February. The company has $20,000 cash at the beginning of February and anticipates $75,000 in cash receipts and $100,250 in cash payments during February. What amount, if any, must the company borrow during February to maintain a $5,000 cash balance
Answer:
$10,250
Explanation:
The Cash Budget for February can be summarized as :
Receipts $75,000
Less Payments ($100,250)
Cash movement ($25,250)
Beginning Balance $20,000
Ending Balance ($5,250)
Desired Balance $5,000
Amount to be Borrowed $10,250
The company must borrow $10,250 ($5,000 + $5,250) during February to maintain a $5,000 cash balance.
Which function will give the average of values in the second column of a database named “Earnings” that meets the criteria listed in cells A2 through C4?
A. =DAVERAGE(2,Earnings,A2:C4)
B. =DAVERAGE(A2:C4,Earnings,2)
C. =DAVERAGE(A2:C4,2,Earnings)
D. =DAVERAGE(Earnings,2,A2:C4)
Answer:
DDDD. =DAVERAGE(Earnings,2,A2:C4)
Explanation:
Took the test