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Assume the following information for the month of August. June sales = $40,000; July sales = $65,000; August sales = $52,850. All sales are on account and are collected as follows: 20% in the current month, 50% in the month following, 25% in the second month following, and 5% uncollectible. The beginning cash balance is $14,670, with cash payments of $24,653. If the minimum cash balance is $50,000, what is the amount needed by the bank, or how much is available to pay towards the bank loan? Show the amount needed as a positive number and the amount to repay a loan as a negative number.
Analyse how the organisation collects, stores, and prepares management accounting information, particularly the use of a management accounting system (MAS) and how information is disseminated throughout the organisation.
What dollar amount of sales must be achieved to reach the goal if fixed costs are $64,000?
List and describe the perspectives of the Balanced Scorecard and what steps would you encourage him or her to take in order to successfully implement and use the Scorecard?
Elucidate the difference in operating income for January, February, and March under variable costing and absorption costing.
question 1for an upcoming trip pat wants to buy euros at the local bank when the current exchange rate quoted in the
How does BA account for “other current interest-bearing deposits”? Is that consistent with U.S. GAAP? What is amount of those investments that are maturing after three months, as of March 31, 2009?
At the beginning of the machine's sixth year it was recognized the machine had three years of remaining life instead of five and that at the end of the remaining three years its salvage value would be $1,600. What amount should be recorded for dep..
Define and explain the meaning of 'control' in the context of business combinations and explain the importance of determining the acquirer and acquisition date in accounting for business combinations
Explain what accountants are generally referring to when they talk about "financial reporting." and explain the generally accepted accounting principles (GAAP).
Determine the factors that should have been considered when setting the price for the product you selected. Explain your rationale.
preparation of income statement and retained earnings.on june 1 fix-it-up service co. was started with an initial
Journalize the transactions for the month of June for Goldenrod Warehouse, using a perpetual inventory system
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