Assignment 12-37: Financial Accounting Emerald Valley Golf Club's progressive membership data is given. First 50 members: Full rate Next 75 members: 10% discount Next 100 members: 15% discount Beyond 225: 20% discount With $1,200 full rate and 280 members, calculate total revenue.
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Assignment 12-37
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- Please give answer within 45 min I will give u upboat.....Download the attached Excel file (First Q Profits Report W Goal Seek_Ver2.xlsx). Instructions: . There are 3 Worksheet Tabs in this Excel file; First Q, First Q Goal Seek, and Minivan Loan. • The First Q (First Quarter) tab shows the first quarter revenue and expenses of the Downtown Internet Cafe. For this tab, • Complete the Proportion column, cells G7 through G11 Each proportion value shows the % of the quarterly sale of that item over the entire sale. Calculate the Net Income row, cells B24 through F24. o Compute the Profit Margin row, Cells B25 through E25. o Add Net Income Sparkline for January through March in Cell H24. in For this tabGolden Gate Fitness tracks monthly memberships. March report: new members 45 at $60 each, renewals 85 at $50 each. Present membership the total General Accounting Problem revenue.
- How to place this information into a statement of financial performance below Pineapple Industry Association Statement of Financial Performance For the Year Ended December 31, 2021 Revenue Dividends received from equity investments 10,000 Service Charge on loans to beneficiaries 70,400 Gross margin on sale of pineapples 367,308 Interest on Loans to Members 7,400 Interest on investments 14,700 Miscellaneous Income 60 Membership Fees 100,020 Grants Received 50,000 Grants to farmers 350,000 Donations received 10,000 Penalties and Fines for breach of Association rules 330 Cost of Seminars for Farmers 7,000 Royalties for use of lands 4,000 Warehouse Storage 6,000 General Cleaning & Sanitation 500 Property Rates 1,000 Depreciation of Fixed Assets 700 Accounting and Consultation Cost 5,000 Advances to Staff 680The assignment of accounts receivable journal entries are based on the following information:1. Accounts receivable 50,000 on 45 days terms2. Assignment fee of 1% (500)3. Initial advance of 80% (40,000)4. Cash received from customers 6,0005. Interest on advances at 9%, outstanding on average for 40 days (40,000 x 9% x 40 / 365 = 395) For each of the transactions above, create a journal. You can use either Excel or Word for this assignmentCalculate the net commission from the following information: Particulars OMR Particulars OMR Salary 12,000 Commission on 30,000 reinsurance ceded Commission on direct 85,000 Commission on 15,000 business reinsurance business Net Commission OMR 82,000 OMR 70,000 OMR 112,000 OMR 100,000
- For each of the transactions below, create a journal? The assignment of accounts receivable journal entries are based on the following information: Accounts receivable 50,000 on 45 days terms Assignment fee of 1% (500) Initial advance of 80% (40,000) Cash received from customers 6,000 Interest on advances at 9%, outstanding on average for 40 days (40,000 x 9% x 40 / 365 = 395)Create accounts receivable journal entries are based on the following information for each transaction Accounts receivable 50,000 on 45 days terms Assignment fee of 1% (500) Initial advance of 80% (40,000) Cash received from customers 6,000 Interest on advances at 9%, outstanding on average for 40 days (40,000 x 9% x 40 / 365 = 395)Mutiple choice: A hospitality company is the maker of an $18,000 note to be paid in quarterlyinstallments of $3,000 each. The first payment is to be made on June 30. How willthe note be represented on the balance sheet for May 31? A. $18,000 long-term liabilityB. $3,000 expense, $15,000 long-term liabilityC. $3,000 expense, $9,000 current liability, $6,000 long-term liabilityD. $12,000 current liability, $6,000 long-term liability
- Accounts receivable journal entries are based on the following information: Accounts receivable 50,000 on 45 days terms Assignment fee of 1% (500) Initial advance of 80% (40,000) Cash received from customers 6,000 Interest on advances at 9%, outstanding on average for 40 days (40,000 x 9% x 40 / 365 = 395) For each of the transactions above, create a journal.24. SIMPLE DISCOUNT RATE A plumbing contractor receives proceeds of $4713.54 on a 12.5% simple discount note with a face value of $5000. Find the time of the note in days.ElegantDress Club has the following income and expenditure account for the year ended 31 December 2020: