Manu has forecast sales to be $32,000 in February, $41,400 in March, $53,200 in April, and $58,600 in May. 64% of sales are on made on credit, the rest are for cash. The sales on credit are collected 30% in the month of sale, and 70% the month.What are budgeted cash receipts in May?

Answers

Answer 1

Answer:

Answer:

$185,947

Explanation:

Related Questions

The balance of stockholders' equity at the beginning of the year and the end of the year was $ 45 comma 000 $45,000 and $ 64 comma 000 $64,000?, respectively. The company issued no common stock during the year. Dividends were $ 25 comma 000 $25,000. What was the net income or loss for the? year? A. Net loss of $ 89 comma 000 $89,000 B. Net income of $ 44 comma 000 $44,000 C. Net income of $ 89 comma 000 $89,000 D. Net loss of $ 44 comma 000 $44,000 Converse Florists? & Co. reported assets of $ 1 comma 100 $1,100 and equity of $ 300 $300. What is its debt? ratio? (Round your percentage answer to two decimal? places.) A. 77.73 77.73% B. 27.27 27.27% C. 72.73 72.73% D. 100.00%
Clovix Corporation has $50 million in cash, 10 million shares outstanding, and a current share price of $30. Clovix is deciding whether to use the $50 million to pay an immediate special dividend of $5.00 per share, or to retain and invest it at the risk-free rate of 10% and use the $5.00 million in interest earned to increase its regular annual dividend of $0.50 per share. Assume perfect capital markets. a. Suppose Clovix pays the special dividend. How can a shareholder who would prefer an increase in the regular dividend create it on her own? b. Suppose Clovix increases its regular dividend. How can a shareholder who would prefer the special dividend create it on her own?
Computech Corporation is expanding rapidly and currently needs to retain all of its earnings; hence, it does not pay dividends. However, investors expect Computech to begin paying dividends, beginning with a dividend of $1.25 coming 3 years from today. The dividend should grow rapidly - at a rate of 21% per year - during Years 4 and 5, but after Year 5, growth should be a constant 8% per year. 1. If the required return on Computech is 18%, what is the value of the stock today?
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The wages payable related to the factory workers for Larkin Company during the month of January are $76,000. The employer's payroll taxes for the factory payroll are $8,000. The fringe benefits to be paid by the employer on this payroll are $6,000. Of the total accumulated cost of factory labor, 85% is related to direct labor and 15% is attributable to indirect labor. Prepare entries for factory labor. Instructions a. Prepare the entry to record the factory labor costs for the month of January. b. Prepare the entry to assign factory labor to production. (Weygandt, 12/2017, p. 20-31) Weygandt, J. J., Kimmel, P. D., Kieso, D. E. (2017). Accounting Principles, 13th Edition. [[VitalSource Bookshelf version]]. Retrieved from vbk://9781119411017 Always check citation for accuracy before use.

Garfield Industries is expanding its operations throughout the Southeast United States. Garfield anticipates that the expansion will increase sales by $1,000,000, and increase the costs of goods sold by $700,000. Depreciation expenses will rise by $50,000 and interest expense will increase by $150,000. The company’s tax rate will remain at 40 percent. If the company’s forecast is correct, how much will net income increase or decrease, as a result of the expansion?

Answers

Answer:

$60,000 increase

Explanation:

The company's additional earnings before interest and taxes (EBIT) are subjected to a 40% tax rate. The company's EBIT is:

$EBIT = Sales - Cost+Depreciation\nEBIT = 1,000,000-700,000+50,000\nEBIT =\$350,000$

The change in income is determined as the EBIT minus taxes and interest expense:

$I = \$350,000*(1-0.4) -\$150,000\nI=\$60,000$

Therefore, Garfield Industries experienced a $60,000 increase in its income as a result of the expansion.

Final answer:

The net income will increase by $100,000 as a result of the expansion.

Explanation:

To calculate the net income increase or decrease, you need to subtract the increased costs of goods sold, depreciation expenses, and interest expense from the increased sales. The tax rate of 40 percent should be applied to the resulting amount to calculate the net income. So, the net income increase or decrease can be calculated as follows:

Increased sales: $1,000,000
Increased costs of goods sold: $700,000
Depreciation expenses increase: $50,000
Interest expense increase: $150,000

Net income increase or decrease = (Increased sales - Increased costs of goods sold - Depreciation expenses increase - Interest expense increase) * Tax rate

= ($1,000,000 - $700,000 - $50,000 - $150,000) * 0.40

= $100,000

Therefore, the net income will increase by $100,000 as a result of the expansion.

On February 3, Gallatin Repair Service extended an offer of $122,000 for land that had been priced for sale at $140,000. On February 28, Gallatin Repair Service accepted the seller's counter offer or $133,000. On October 23, the land was assessed at a value of $200,000 for property tax purposes. On January 15 of the next year, Gallatin Repair Service was offered $213,000 for the land by a national retail chain. At what value should the land be recorded in Gallatin Repair Services records

Answers

Answer:

$133,000

Explanation:

According to the historical cost principle, the assets should be recorded at the purchase price or the acquisition cost. In this, no other cost should be recorded like assessed value, land improvements, etc

Since in the given question the Gallatin accepted the seller counter offer i.e. $133,000 so the same is to be presented in the financial statements

hence, the land should be recorded at $133,000

A company advertises that its products are environmentally friendly in order to sell to climate-conscious consumers at a higher price. What is this practice called?

Answers

Answer: Greenwashing

Explanation:

Greenwashing is the process of giving out a false impression or misleading the public about how the product of a company are more environmentally friendly. Companies have used greenwashing in commercials and press releases emphasizing their pollution minimization efforts and clean energy but in reality, the firm may not have a genuine commitment to environmental friendliness. Companies that make such claims are embroiled in greenwashing.

For example, a company might claim that their goods are made from recycled materials and this may be false. This is greenwashing.

An analyst gathers the following information about Meyer, Inc.: Meyer has 1,000 shares of 8% cumulative preferred stock outstanding, with a par value of $100 and liquidation value of $110. Meyer has 20,000 shares of common stock outstanding, with a par value of $20. Meyer had retained earnings at the beginning of the year of $5,000,000. Net income for the year was $70,000. This year, for the first time in its history, Meyer paid no dividends on preferred or common stock.What is the book value per share of Mayer's common stock?

Answers

Answer:

common stock book value: 273.5 dollars

Explanation:

(equity - preferred stock) / outstanding shares

In this case:

(common stock + RE) divide over shares outstanding

20,000 shares x $ 20 = 400,000

Retained Earnings:

5,000,000 + 70,000 = 5,070,000

Total Common Equity: 5,470,000

Common stock: 20,000

5,470,000 / 20,000 = 273.5

Final answer:

The book value per share of Meyer's common stock is $253.5. This is calculated by dividing the total equity ($5,070,000) by the number of common shares outstanding (20,000).

Explanation:

The book value per share is the value of a company's equity divided by the total number of common shares outstanding. It is a financial ratio that investors use to assess whether a company's stock is overpriced or underpriced.

In this case, the total equity of Meyer, Inc. is calculated by adding its retained earnings to its net income for the year. This totals to $5,070,000. Since there are 20,000 shares of common stock, the book value per share of Meyer's common stock would be $5,070,000 divided by 20,000, which equals to $253.5.

This represents the intrinsic value of a company, which could be significantly different from its market price depending on numerous factors such as the company's earnings potential and risk profile.

Learn more about Book Value per Share here:

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If a person works on a ship for a cruise line headquartered in the country where he was born and resides, then he is a Answers: A. PCN B. HCN C. TCN D. not enough information

Answers

Answer:

The correct answer is letter "A": PCN.

Explanation:

In international staffing, a Parent Country National (PCN) is an employee that is hired to work in the same country from where the employee is resident and where the company has its headquarters. Usually, firms hire PCNs when foreign cultures are distant.

The consumer packaged goods industry is one with several large competitors, soaring raw materials prices, and strong demands from powerful retailers for lower prices. As a result, Colgate-Palmolive Co. and Unilever Group, the makers of products such as Colgate toothpaste and Ben & Jerry's ice cream respectively, both reduced their earnings forecasts. However, Procter & Gamble, another consumer packaged goods company, did not. At P&G, innovation is a key attribute, which allowed the firm to update all 200 of its brands and to develop products like Crest Whitestrips that consumers crave. P&G also used its marketing know how to develop unique product placements on television shows that highlight its brands. A SWOT analysis for P&G would indicate that soaring raw materials prices are a __________ while the product placement that features its brands on TV shows is a _________.A. strength; weakness
B. weakness; threat
C. threat; opportunity
D. opportunity; threat
E. opportunity; strength

Answers

Answer:

C. threat; opportunity

Explanation:

A SWOT analysis is a tool that companies use to identify their strengths, weaknesses, opportunities and threats:

-Strengths refer to the things that the company can do well.

-Weaknesses refer to the things in which the company doesn't perform well.

-Opportunities refer to external situations that provide the company an advantage it can take to improve its performance.

-Threats refer to external situations that provide a difficult environment for the company to perfom well.

According to this, the answer is that a SWOT analysis for P&G would indicate that soaring raw materials prices are a threat because this an external situation that affects the company and the product placement that features its brands on TV shows is an opportunity because product placements are a form of advertising that the company can take advantage of to target its customers.

Other Questions

You need to write a report that shows a company's profits by divisions located in regions around the country. You should organize your report by __________. a. incorporating extensive primary data to assure the reader of your credibility b. arranging the information chronologically according to the date the profits were generated at each location c. creating sections of the report that represent each geographic region

A principle under which the intent to form a contract will be judged by outward, objective facts as interpreted by a reasonable person, rather than by the party's own secret, subjective intentions is called:_________

Harwinton, Inc. anticipates sales of 56,000 units, 54,000 units, 57,000 units and 56,000 units in July, August, September and October, respectively. Company policy is to maintain an ending finished-goods inventory equal to 50% of the following month's sales. On the basis of this information, how many units would the company plan to produce in September?

Potential effects of departmental performance reports on employee behavior include all of the following except: Including indirect expenses can lead to a manager being more careful in using service department's costs. Using budgeted service department costs insures that operating departments are not held responsible for excessive service department costs. Including uncontrollable costs can serve to improve a manager's morale.