Spalding pointers corporation expects to begin operations on january 1, year 1; it will operate as a specialty sales company that sells laser pointers over the internet. spalding expects sales in january year 1 to total $120,000 and to increase 5 percent per month in february and march. all sales are on account. spalding expects to collect 70 percent of accounts receivable in the month of sale, 20 percent in the month following the sale, and 10 percent in the second month following the sale. required prepare a sales budget for the first quarter of year 1. determine the amount of sales revenue spalding will report on the year 1 first quarterly pro forma income statement. prepare a cash receipts schedule for the first quarter of year 1. determine the amount of accounts receivable as of march 31, year 1.
Answers: 1
Business, 22.06.2019 03:10
On the first day of the fiscal year, a company issues an $7,500,000, 8%, five-year bond that pays semiannual interest of $300,000 ($7,500,000 × 8% × ½), receiving cash of $7,740,000. journalize the first interest payment and the amortization of the related bond premium. round to the nearest dollar. if an amount box does not require an entry, leave it blank.
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Business, 22.06.2019 11:20
Security a has a higher standard deviation of returns than security b. we would expect that: (i) security a would have a risk premium equal to security b. (ii) the likely range of returns for security a in any given year would be higher than the likely range of returns for security b. (iii) the sharpe ratio of a will be higher than the sharpe ratio of b. (a) i only (b) i and ii only (c) ii and iii only (d) i, ii and iii
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Business, 22.06.2019 11:30
Mark knopf is an auditor who has been asked to provide an audit and financial statement certification for a company that is going public on the new york stock exchange. knopf wants to know his personal liability if the company provides him with inaccurate or false information. which of the following sources of law will him answer that question? a. the city ordinances where the company headquarters is located. b. the state constitution of the state where the company is incorporated. c. code of federal regulations. d. all of the above
Answers: 1
Business, 22.06.2019 11:30
When the amount for land is 36,000 and the amount paid for expenses is 10,000, the balance of total asset is
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Spalding pointers corporation expects to begin operations on january 1, year 1; it will operate as...
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