A lockbox arrangement is: Answers: A. a method for the safe-keeping of marketable securities. B. used...
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A lockbox arrangement is: |
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- Question 18
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A change in the credit policy will be beneficial to a firm if it results in an increase in the: |
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- Question 19
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The process of determining whether the forecast meets the firm's financial targets is known as _____. |
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- Question 20
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The cash conversion cycle refers to the: |
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Homework Answers
Ans: A lockbox arrangement is:
D.
a system for speeding up a firm's collections of checks received.
Add Answer to:
A lockbox arrangement is:
Answers:
A.
a method for the safe-keeping of marketable securities.
B.
used...
7. Money market securities have which of the following characteristics? I. long maturities II. low default risk III. high degree of liquidity IV. low rates of return a) I and III only b) II and I...
7. Money market securities have which of the following characteristics? I. long maturities II. low default risk III. high degree of liquidity IV. low rates of return a) I and III only b) II and IIl only c II, III, and IV only d) I, II, III, and IV 8. A lockbox system: a) entails the use of a bank which is centrally located to collect payments on a nationwide basis. b) is designed to deposit a customer's check into...
11. A trade discount is: A term used by a purchaser to describe a cash discount...
11. A trade discount is: A term used by a purchaser to describe a cash discount given to customers for prompt payment. B. A reduction in price below the list price. A term used by a seller to describe a cash discount granted to customers for prompt payment. D. A reduction in price for prompt payment. E. Also called a rebate. 12. A company uses the perpetual inventory system and recorded the following entry: 2,500 50 Accounts Payable...... .................. Merchandise...
(Cash management) As CFO of Portobello Scuba Diving Inc., you are asked to look into the...
(Cash management) As CFO of Portobello Scuba Diving Inc., you are asked to look into the possibility of implementing a system to expedite cash receipts from clients. Portobello receives check remittances totaling $24 million in a year. The firm records and processes 15,000 checks in the same period. The National Bank of Brazil has informed you that it could provide the service of expediting checks and associated documents for a unit cost of $0.30 per check. After conducting an analysis,...
b. $115.000 c. $112.000 d. $109,000 e none of these are correct. 6. The information below...
b. $115.000 c. $112.000 d. $109,000 e none of these are correct. 6. The information below has been taken from the cost records of Shula Company for the past year: Raw materials used in production Total manufacturing costs added Cost of goods available for sale Selling and administrative expenses S326,000 686,000 826,000 25,000 Inventories Raw Materials Work in Process Finished Goods Beginning $75,000 S80.000 $90,000 Ending $85.000 $30.000 $110,000 The cost of raw materials purchased during the year amounted to...
PLEASE FILL IN THE ANSWERS, THIS IS MY SECOND TIME POSTING THIS. Star Videos, Inc., produces...
PLEASE FILL IN THE ANSWERS,
THIS IS MY SECOND TIME POSTING THIS.
Star Videos, Inc., produces short musical videos for sale to retail outlets. The company's balance sheet accounts as of January 1 are given below. Star Videos, Inc Balance Sheet January 1 Assets Cash Accounts receivable Inventories: $ 88,000 114,600 Raw materials (film, costumes) $20,000 51,800 97,200 Videos in process Finished videos awaiting sale Prepaid insurance Studio and equipment (net) Total assets Liabilities and Stockholders' Equity Accounts payable Retained...
previous answers: -budgeted sales is $1,740,000 -total cash collections for July is $933,600 -required production is...
previous answers:
-budgeted sales is $1,740,000
-total cash collections for July is $933,600
-required production is 29,400 units
-raw materials to be purchased is 118,320 pounds
-cost of raw material to be purchased is $295,800
-total cash disbursements is $195,252
* please answer question number 10 and 14, i posted photos of
them below* for total direct labor cost and total selling and
administrative expenses
Check Required information The Foundational 15 (LO8-2, LO8-3, LO8-4, LO8-5, LO8-7, LO8-9, LO8-10] (The following...
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or an uestion. 1) Goods...
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or an uestion. 1) Goods in transit are: A) always included in the transportation company's inventory. B) always included in the buying company's inventory. C) always included in the selling company's inventory D) inventory items being transported from a seller to a buyer. 2) Acme Company's balance sheet shows three inventory accounts-raw materials, work and finished goods. Acme Company must be a: A) service business. C) wholesale distributor. B)...
What is the amount of equity on September 1 and September A. $86,000; 54,000 B. 586,000;...
What is the amount of equity on September 1 and September A. $86,000; 54,000 B. 586,000; 5106,000 C. $74,000; $106,000 D. $74,000, $4,000 E None of these answers is correct 25. The rule that (1) requires revenue to be recognized at the time it is earned, (2) allows the inflow of assets associated with revenue to be in a form other than cash, and (3) measures revenue as the amount of cash plus the cash equivalent value of any noncash...
Soprano Co. is in the process of preparing the second quarter budget for 2016, and the...
Soprano Co. is in the process of preparing the second quarter budget for 2016, and the following data have been assembled • The company sells a single product at a selling price of $41 per unit. The estimated sales volume for the next six months is as follows March April 6.100 units 7,100 units 10,300 units by August 8.400 units 9.100 units 6.100 units All sales are on account. The company's collection experience has been that 42% of a month's...
please exaplain your answers and write by using journal entries 18. Alpha purchased equipment on credit...
please exaplain your answers and write by using journal
entries
18. Alpha purchased equipment on credit but did not record it. No payments were made during the year and no AJE was recorded for the depreciation on the equipment. 19. Alpha failed to record an AJE for interest earned on a note receivable. The interest won't be received until next year. 20. Alpha received cash from a bank but erroneously recorded it as a cash sale instead of a loan...
7. Money market securities have which of the following characteristics? I. long maturities II. low default risk III. high degree of liquidity IV. low rates of return a) I and III only b) II and IIl only c II, III, and IV only d) I, II, III, and IV 8. A lockbox system: a) entails the use of a bank which is centrally located to collect payments on a nationwide basis. b) is designed to deposit a customer's check into...
11. A trade discount is: A term used by a purchaser to describe a cash discount given to customers for prompt payment. B. A reduction in price below the list price. A term used by a seller to describe a cash discount granted to customers for prompt payment. D. A reduction in price for prompt payment. E. Also called a rebate. 12. A company uses the perpetual inventory system and recorded the following entry: 2,500 50 Accounts Payable...... .................. Merchandise...
(Cash management) As CFO of Portobello Scuba Diving Inc., you are asked to look into the possibility of implementing a system to expedite cash receipts from clients. Portobello receives check remittances totaling $24 million in a year. The firm records and processes 15,000 checks in the same period. The National Bank of Brazil has informed you that it could provide the service of expediting checks and associated documents for a unit cost of $0.30 per check. After conducting an analysis,...
b. $115.000 c. $112.000 d. $109,000 e none of these are correct. 6. The information below has been taken from the cost records of Shula Company for the past year: Raw materials used in production Total manufacturing costs added Cost of goods available for sale Selling and administrative expenses S326,000 686,000 826,000 25,000 Inventories Raw Materials Work in Process Finished Goods Beginning $75,000 S80.000 $90,000 Ending $85.000 $30.000 $110,000 The cost of raw materials purchased during the year amounted to...
PLEASE FILL IN THE ANSWERS,
THIS IS MY SECOND TIME POSTING THIS.
Star Videos, Inc., produces short musical videos for sale to retail outlets. The company's balance sheet accounts as of January 1 are given below. Star Videos, Inc Balance Sheet January 1 Assets Cash Accounts receivable Inventories: $ 88,000 114,600 Raw materials (film, costumes) $20,000 51,800 97,200 Videos in process Finished videos awaiting sale Prepaid insurance Studio and equipment (net) Total assets Liabilities and Stockholders' Equity Accounts payable Retained...
previous answers:
-budgeted sales is $1,740,000
-total cash collections for July is $933,600
-required production is 29,400 units
-raw materials to be purchased is 118,320 pounds
-cost of raw material to be purchased is $295,800
-total cash disbursements is $195,252
* please answer question number 10 and 14, i posted photos of
them below* for total direct labor cost and total selling and
administrative expenses
Check Required information The Foundational 15 (LO8-2, LO8-3, LO8-4, LO8-5, LO8-7, LO8-9, LO8-10] (The following...
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or an uestion. 1) Goods in transit are: A) always included in the transportation company's inventory. B) always included in the buying company's inventory. C) always included in the selling company's inventory D) inventory items being transported from a seller to a buyer. 2) Acme Company's balance sheet shows three inventory accounts-raw materials, work and finished goods. Acme Company must be a: A) service business. C) wholesale distributor. B)...
What is the amount of equity on September 1 and September A. $86,000; 54,000 B. 586,000; 5106,000 C. $74,000; $106,000 D. $74,000, $4,000 E None of these answers is correct 25. The rule that (1) requires revenue to be recognized at the time it is earned, (2) allows the inflow of assets associated with revenue to be in a form other than cash, and (3) measures revenue as the amount of cash plus the cash equivalent value of any noncash...
Soprano Co. is in the process of preparing the second quarter budget for 2016, and the following data have been assembled • The company sells a single product at a selling price of $41 per unit. The estimated sales volume for the next six months is as follows March April 6.100 units 7,100 units 10,300 units by August 8.400 units 9.100 units 6.100 units All sales are on account. The company's collection experience has been that 42% of a month's...
please exaplain your answers and write by using journal
entries
18. Alpha purchased equipment on credit but did not record it. No payments were made during the year and no AJE was recorded for the depreciation on the equipment. 19. Alpha failed to record an AJE for interest earned on a note receivable. The interest won't be received until next year. 20. Alpha received cash from a bank but erroneously recorded it as a cash sale instead of a loan...
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