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2 years ago

Use the following items to prepare a balance sheet and a cash flow statement.

Business

1 answer:

Natali5045456 [20]2 years ago

8 0

Answer:

Total Assets=$18,170 Networth=Assets-Liabilites=$15,855

Total Liabilties=$2,315 Cash Outflows =$3,925

Cash Inflows=$0

Explanation:

Total Assets

Checking Account 450.00

Savings Account 1,890.00

Automobile 7,800.00

Loan payment (80.00)

Household Possession 3,400.00

Stereo Equipment 2,350.00

Computer 1,500.00

Stock Investment 860.00

18,170.00

Total Liabilties

Loan 2,160.00

Credit balance 235.00

Loan payment (80.00)

2,315.00

Networth=$18,170-$2.315=$15,855

Cash Outflows

Rent 650.00

Salaries 1,950.00

Food 450.00

telephone 65.00

Insurance 230.00

Electricity 90.00

Lunch/Parking 180.00

Donation 70.00

Purchase 110.00

Restaurant Spending 130.00

3,925.00

Cash Inflows=$0

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At an annual effective interest rate of 6.3%, an annuity immediate with 4N level annual payments of 1,000 has a present value of

Kaylis [27]

Answer:

the % of the present value that corresponds to the first 9 payments (N) = 47.57% of the annuity's present value.

the % of the present value that corresponds to the first 27 payments (3N) = 90.86% of the annuity's present value.

Explanation:

we must use the present value of an annuity formula:

PV = annual payment x annuity factor

14,113 = 1,000 x annuity factor

annuity factor = 14,113 / 1,000 = 14.133

we know that the interest rate is 6.3%, now using an annuity calculator we can determine that the total number of periods is 36. The exact factor is 14.11322, but we can round to 14.113

the first set would represent 36/4 = 9 years

the % of the present value that corresponds to the first 9 payments (N) = PV = 1,000 x 6.71376 (PV annuity factor, 6.3%, 9 periods) = 6,713.76. This corresponds to 6,713.76 / 14,113 = 47.57% of the annuity's present value.

the % of the present value that corresponds to the first 27 payments (3N) = PV = 1,000 x 12.82329 (PV annuity factor, 6.3%, 27 periods) = 12,823.29. This corresponds to 12,823.29 / 14,113 = 90.86% of the annuity's present value.

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2 years ago

Ratchet Manufacturing anticipates total sales for August, September, and October of $200,000, $210,000, and $220,500 respectivel

swat32

Answer:

$150,000

Explanation:

Given data:

Total sales for the month of August = $200,000

Total sales for the month of September = $210,000

Total sales for the month of October = $220,500

Total cash sales = 25% of the total sales

Thus,

The total credit sales = Total sales - Total cash sales = 100% - 25% = 75%

Therefore,

For the month of the August,

Total cash sales = 25% of total sales of August = 0.25 × $200,000

Total cash sales = $50,000

Therefore, total credit sales for the month of August

= Total sales in August - Total cash sales in August = $200,000 - $50,000

= $150,000

Hence,

the amount of accounts receivable to be reported for August = $150,000

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2 years ago

Varmit-B-Gone is a pest control service that operates in a suburban neighborhood. The company attempts to make service calls at

lubasha [3.4K]

Answer:

VARMIT B-GONE

BUDGETED INCOME STATEMENT

sales revenue ( 90%*1500*2.4*80%*$80) $207,360

Service cost :

variable cost $17280

Maintenance and repair 15,998

Depreciation 42,000 75,278

Gross profit 132,082

marketing and administrative cost :

Marketing (variable ) 10,440

administrative (fixed)(55,000*105%) 57,750

bad debt( 2%*207360) 4,147 72,337

net income 59,745

Explanation:

service cost :

variable cost = (24,000/3600)*2592 = $17,280

maintenance and repairs = (22,000/3600)*2592 *101% = $15,998

Marketing cost = ($14,500/3600)*2592 = $10,440

7 0

2 years ago

On January 15, 2020, Dolan Corp. adopted a plan to accumulate funds for environmental improvements beginning July 1, 2024, at an

Andreyy89

Answer:

Annual deposit (PMT) = $1,567,060.39

Explanation:

Given:

Future value of annuity due = $8,000,000

Rate of interest(r) = 10% = 0.1

Number of year (n) = 4 year

Annual deposit (PMT) = ?

Computation of annual deposit :

$Future\ value\ of\ annuity\ due = PMT [\frac{(1+r)^n-1}{r} ](1+r)\\\\8,000,000 = PMT [\frac{(1+0.1)^4-1}{0.1} ](1+0.1)\\\\8,000,000 = PMT [\frac{(1.1)^4-1}{0.1} ](1.1)\\\\8,000,000 = PMT [\frac{(0.4641}{0.1} ](1.1)\\\\8,000,000 = PMT [5.1051]\\PMT = 1,567,060.39$

Annual deposit (PMT) = $1,567,060.39

6 0

2 years ago

Crane Company can produce and sell only one of the following two products: Oven Contribution Hours Required Margin Per Unit Muff

Makovka662 [10]

The question is reproduced in the table below for clarity

Oven Contribution

Hours Required Margin Per Unit

Muffins 0.2 $4

Coffee Cakes 0.3 $5

Answer:

Total contribution margin = $ 60,000.00

Explanation:

When a business is faced with a problem of shortage of a resource which can be used to produced more than one product type, to maximize the use of the resource , the business should allocate it for production purpose in such a way that it maximizes the contribution per unit of the scare resource.

Therefore Crane Company should alocate the oven hours to maximise the contribution per unit of oven hour. This is done as follows:

Step 1

Calculate he contribution per oven hour and rank the product

cont/hr ranking

Muffin $4/0.2 hour = 20 1st

Coffee cakes $5/0.3 hour= 16.67 2nd

Because Muffin generates the highest contribution per hour of Oven, Crane should allocate all the resource to it

Step 2

Calculate the Total contribution from the production of Muffin

Total contribution margin = 20 per her × 3000

= $ 60,000.00

8 0

2 years ago

Read 2 more answers