Enter the missing dollar amounts for the income statement for each of the following independent cases. (Hint: In Case B,work from the bottom up.)Net sales revenueBeginning inventoryPurchasesGoods available for saleEnding inventoryCost of goods soldCase A$Case B7,550$11,140$6,6704,9508,39015,06010,25011,0305,840Case C$6,060$3,9609,42013,3808,8904,490Gross profit1,3101,570Expenses310670Pretax income (loss)$1,400$(430)$900

Here is the step-by-step calculation for each case:Case AGoods Available for Sale= Beginning…

Answered: Enter the missing dollar amounts for…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Retailer Budget D. Tomlinson Retail seeks your assistance in developing cash and other budgetinformation for May, June, and July. The store expects to have the following balances at the end ofApril:Cash $ 5,500Accounts receivable 437,000Inventories 309,400Accounts payable 133,055The firm follows these guidelines in preparing its budgets:∙ Sales. All sales are on credit with terms of 3/10, n/30. Tomlinson bills customers on the last day ofeach month. The firm books receivables at gross amounts and collects 60% of the billings withinthe discount period, 25% by the end of the month, and 9% by the end of the second month. Thefirm’s experience suggests that 6% is likely to be uncollectible and is written off at the end of thethird month.∙ Purchases and expenses. All purchases and expenses are on open account. The firm pays its payables over a 2-month period with 54% paid in the month of purchase. Each month’s units of endinginventory should equal 130% of the next month’s cost of sales. The…
Suppose the business receives the revenue at the end of the month, what is the CLV value computed from the initial assumption? (Keep 2 decimal places, no $ sign). A 1 Chum Rate 2 Retention Rate 3 Interest Rate 4 Profit Growth Rate month 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 M 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 Skip question 0.25 CLV per customer (Net Present Value $ 0.75 Converting to beginning of period 0.15 $ 0 MeanProfit (if still here) Number of Customers in Cohort (100.00) 30.00 30.00 30.00 30.00 30.00 30.00 1 $ 2 $ 3 $ 4 $ 5 $ 6 $ 7 $ 8 $ 9 $ 10 $ 11 $ 12 $ 13 $ 14 $ 15 $ 16 $ 17 $ 18 $ 19 $ 20 $ 21 $ 22 $ 23 $ 24 $ 25 $ 26 $ 27 $ 28 $ 29 $ 30 $ Start Solving 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 30.00 Exit Profit 1000 $ (100,000.00) 979 $ 29,375.00 28,763.02 28,163.79 27,577.05 27,002.52 26,439.97 25,889.14 25,349.78 24,821.66 24,304.54 23,798.20 23,302.40 22,816.94…
1. With examples and necessary figures, define the Key Inventory Terms ? 2. Suppose, you are newly appointed as a Sales Manager in Unilever Company and after joining your first assignment is to do the sales forecast for the next quarter. Therefore, explain what would be your approach to do a good sales forecast for the next quarter.
Consider the following price and dividend data for Ford Motor Company: Dividend ($) Date December 31, 2004 January 26, 2005 April 28, 2005 July 29, 2005 October 28, 2005 December 30, 2005 Price ($) $14.04 $13.43 $9.14 OA. -44.4% OB. -40.2% OC.-42.32% OD. -38.1% $10.74 $8.02 $7.72 $0.12 $0.12 $0.12 $0.12 Assume that you purchased Ford Motor Company stock at the closing price on December 31, 2004 and sold it at the closing price on December 30, 2005. Your realized annual return is for the year 2005 is closest to:
Classify each of the following items as revenues (R), expenses (EX), or withdrawals (W). Consulting revenue
Aspen Company has sales of $2,000,000, cost of goods sold of $200,000, and selling and administrative costs of $500,000. Aspen Company's gross margin is: A. $1,800,000. B. $1,500,000. C. $1,300,000. D. $1,700,000.
If Exxon uses FIFO for its inventory valuation, calculate the cost of ending inventory and cost of goods sold if ending inventory is 110 barrels of crude oil. Beginning inventory and purchases Barrels Barrel cost Total cost Beginning inventory: Jan 1 129 $ 96 $ 12,384 March 1 54 102 5,508 June 1 69 99 6,831 September 1 79 91 7,189 December 1 54 104 5,616 385 $ 37,528 Cost of ending inventory Cost of goods sold
B 8,000 A 4,000 10,000 20,000 Disposable income Figure 1.2 2) Refer to Figure 1.2. The slope of the line between Points A and B is A) 0.4. C) 2.5. B) 1.2. D) indeterminate from this information. Consumption
D1. Account What are the five available reductions from gross taxable income to calculate net taxable income?
Hh1. Account
Subject: accounting
PLEASE ANSWER BOTH QUESTIONS without excel a) Using a weighted moving average with three periods, determine the demand for period 13. Use 3, 2, and 1 for the weights of the most recent, second most recent, and third most recent periods, respectively b) Find the MAD, MSE and MAPE

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