BUSINESS HIGH SCHOOL

Rugged Bicycles, Inc. collects 25% of its sales on account in the month of the sale and 75% in the month following the sale. If sales are budgeted to be $400,000 for March and $450,000 for April, what are the budgeted cash receipts from sales on account for April?

Answers

Answer 1

Answer:

Answer:

$412,500

Explanation:

March

Cash receipts from sales on account for April = $400,000 * 75%

Cash receipts = $300,000

April

Cash receipts from sales on account for April = $450,000 * 25%

Cash receipts = $112,500

Total Cash receipts = Cash receipts from sales on account from March + Cash receipts from sales on account from April

Total Cash receipts = $300,000 + $112,500

Total Cash receipts = $412,500

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Paul Solomon is the owner of Solly's, an upscale restaurant in Tampa, Florida. Each year, Paul spends about $150,000 in advertising. As this year's ad budget decision must be made, Paul decides that he wants to know just how good his advertising dollars are working for him. He hires Getty Research Associates who recommend that he establish a baseline of awareness. Getty recommends a TOMA study which stands for Top-of-Mind-Awareness. TOMA studies consist of taking a probability sample of the population and asking respondents to name the first three "insert type of business here." Obviously, for Solly's, Getty would be asking respondents to name the top three restaurants in the area. The percentage of respondents that named Solly's would be a baseline measure of awareness, and future promotions could be evaluated in terms of whether or not they increased awareness. While Paul was intrigued with online surveys because they were fast and less expensive, Getty recommended a traditional telephone survey using the local Tampa directory. Getty also explained to Paul that "Plus One dialing" could be used to ensure that unlisted numbers were included. Though the directory was quite large and no electronic version was available, Getty felt they could efficiently draw the sample using a:A) simple random sampleB) judgement sampleC) stratified sampleD) cluster, area sampleE) systematic sample

Subordinates of managers who experience positive moods at work tend to _________ than subordinates of managers with negative moods.

Answers

They tend to perform better. Motivation and encouragemnt are always better tools in management than being negative.

Many financial institutions hesitate to make loans on second or third mortgages True or False

Answers

The answer to this question is TRUE.

It is true that many financial institutions hesitate to make loans on second or third mortgages. Second mortgages are riskier for lenders because they come with a higher interest rate than the first mortgages.

Additional information:
> Second mortgage is a security interest on a property which is subordinate to a more senior mortgage or loan.
>A third mortgage is a security interest on property subordinate to the first and second mortgages.

The price of one necklace is the same as the price of five rings. One ring costs $320. The cost of a necklace is

Answers

Answer:

The cost of a necklace is $1,600

Explanation:

Price of one necklace is the same as the price of five rings, this means

1 necklace = five rings

Price of a necklace = 5 x price of ring

Price of ring = $320

Price of a necklace = 5 x $320

= $1,600

Therefore, a necklace costs $1,600

$1,600. You would multiply the price of one ring by 5 to find the price of the necklace.

A mortgage company charges borrowers a 1.5% loan origination fee. A house is purchased for $210,000, with a $50,000 down payment. The buyer applies for a mortgage to cover the balance. What will the mortgage company charge as a fee if the asking price of the house was $235,000? a. $2,400 b. $3,150 c. $3,525 d. $3,750

Answers

Answer:

C. 3525

Explanation:

To calculate the mortgage company's fee, you first need to determine the mortgage amount, and then apply the 1.5% loan origination fee.

The purchase price of the house is $235,000.

The buyer makes a $50,000 down payment.

To find the mortgage amount:

Mortgage Amount = Purchase Price - Down Payment

Mortgage Amount = $235,000 - $50,000

Mortgage Amount = $185,000

Now, you can calculate the loan origination fee:

Loan Origination Fee = (Loan Amount) x (Loan Origination Fee Rate)

Loan Origination Fee = $185,000 x (1.5/100)

Loan Origination Fee = $185,000 x 0.015

Loan Origination Fee = $2,775

So, the mortgage company will charge a loan origination fee of $2,775.

The closest answer choice to this amount is:

c. $3,525

However, this does not match the calculated amount of $2,775. It's possible that there is an error in the answer choices provided. The correct answer based on the calculation should be $2,775, not one of the answer choices provided.

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b. Forward rates
c. Arbitrage
d. Spot rates

Answers

The right answer for the question that is being asked and shown above is that: "b. Forward rates." The idea that keeps foreign exchange quotes in two different countries in line with each other is that of b. Forward rates

Which of the following accounts increases with a credit? A. Owner, Capital B. Prepaid Expense C. Accounts Receivable D. Owner, Withdrawals

Answers

Answer:

Explanation:

Final answer:

In the realm of accounting, the Owner, Capital is the account that increases with a credit. This is a reflection of increased business value through investment, asset acquisition, or net income. Other accounts listed either increase with a debit or decrease with a credit. Option A is correct.

Explanation:

In the double-entry bookkeeping system, accounts are either increased with a debit or a credit. The account that increases with a credit among the options provided is Owner, Capital. This is because it reflects the owner's investment into the business, an increase in business assets, or an increase in net income, all of which increase the value of the “Owner, Capital” account. In contrast, Prepaid Expenses and Accounts Receivable increase with a debit, while Owner, Withdrawals decrease with a credit.

Learn more about Accounting here:

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