Business, 14.04.2020 22:52 oliup567

Memphis Company anticipates total sales for April, May, and June of $990,000, $1,090,000, and $1,140,000 respectively. Cash sales are normally 20% of total sales. Of the credit sales, 35% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 5% are not collected.
Required:
(a) Compute the amount of cash received from credit sales during the month of June.

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 03:30

Tiana daniels enterprise’s trial balance as at december 31, 2016 did not balance. on february 15, 2017 the following errors were detected: errorsi. water rates had been undercast by $2, 000. ii. a cheque paid to yvonne walch of $2, 680 had been posted to the credit side of her account. iii. discount received total of $1, 260 had been posted to the debit side of the discount allowed account as $1, 620. iv. rent paid in the amount of $24, 000 had been posted to the credit of the rent received account. v. wayne returned goods valuing $1, 680 to daniels enterprise but had been completely omitted from the books. required: 1. prepare the journal entries to correct the errors. (narrations required) 14.5 marks 2. prepare the suspense account showing clearly the original trial balance error. 8 marks

Answers: 2

Answer

Business, 22.06.2019 08:00

Suppose the number of equipment sales and service contracts that a store sold during the last six (6) months for treadmills and exercise bikes was as follows: treadmill exercise bike total sold 185 123 service contracts 67 55 the store can only sell a service contract on a new piece of equipment. of the 185 treadmills sold, 67 included a service contract and 118 did not.

Answers: 1

Answer

Business, 22.06.2019 10:20

Asmartphone manufacturing company uses social media to achieve different business objectives. match each social media activity of the company to the objective it the company achieve.

Answers: 2

Answer

Business, 22.06.2019 13:30

Jose recently died with a probate estate of $900,000. he was predeceased by his wife, guadalupe, and his daughter, lucy. he has two surviving children, pete and fred. jose was also survived by eight grandchildren, pete’s three children, naomi, daniel, nick; fred’s three children, heather, chris and steve; and lucy’s two children, david and rachel. jose’s will states the following “i leave everything to my three children. if any of my children shall predecease me then i leave their share to their heirs, per stirpes.” which of the following statements is correct? (a) under jose’s will rachel will receive $150,000. (b) under jose’s will chris will receive $150,000. (c) under jose’s will nick will receive $100,000. (d) under jose’s will pete will receive $200,000.

Answers: 1

Answer

You know the right answer?

Memphis Company anticipates total sales for April, May, and June of $990,000, $1,090,000, and $1,140...

Questions