The Morning Jolt Coffee Company has projected the following quarterly sales amountsfor the coming year:Q1 Q2 Q3Q4Sales $830 $860 $940 $970a. Accounts receivable at the beginning of the year are $420. The company has a 45-day collection period. Calculate cash collections in each of the four quarters bycompleting the following (A negative answer should be indicated by a minus sign.Round your answers to 2 decimal places, e.g., 32.16.):Q1Q2Beginning receivables$420.00Sales830.00Cash collectionsEnding receivables860.00Q3940.00Q4970.00

Q1: Sale in each month = $830/3 = $276.67Ending Receivable include half amount of February Sale and…

Answered: The Morning Jolt Coffee Company has…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year. 04 $480 Sales 01 $ 210 02 $ 270 a. Accounts receivable at the beginning of the year are $480. The company has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following: Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Beginning receivables Sales Cash collections Ending receivables $ Beginning receivables S Sales Cash collections Ending receivables 03 $ 330 Beginning receivables Sales Cash collections Ending receivables Q1 S Q1 480 210 585 105 $ 01 Answer is complete and correct. 480 210 $ 00 480 210 Q2 105 $ 270 b. Accounts receivable at the beginning of the year are $480. The company has a 60-day collection period. Calculate cash collections in each of the four quarters by completing the following: Note: Do not round intermediate calculations and round your answers to the…
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You are looking for a bank in which to open a checking account for your new part-time business. You estimate that in the first year, you will be writing 30 checks per month and will make three debit transactions per month. Your average daily balance is estimated to be $900 for the first six months and $2,400 for the next six months. Use the following information to solve the problem. Bank Monthly Fees and Conditions Bank 1 $16.00 with $1,000 min. daily balance-or-$25.00 under $1,000 min. daily balance Bank 2 $4.50 plus $0.40 per check over 10 checks monthly$1.00 per debit transaction Bank 3 $5 plus $0.25 per check$2.00 per debit transaction Bank 4 $8 plus $0.15 per check$1.50 per debit transaction (a) Calculate the cost (in $) of doing business with each bank for a year. Bank 1 Bank 2 Bank 3 Bank 4 (b) Which bank should you choose for your checking account? Bank 1 Bank 2 Bank 3 Bank 4
If Dominion Bank also pays 3.25% annual interest, compounded daily. If you had the following deposits and withdrawals, calculate the amount of interest you would have earned at Dominion bank during the month of March. (March has 31 days) DATE ACTIVITY BALANCE March 1 beginning balance $5,500 March 10 $500 March 28 deposit $700 O $14.47 O $14.07 O $16.08 O $17.69 ???? ACCOUNT withdraw ????
Nelto deposits $2,500 in a bank account that pays 3% interest compounded quarterly. Two years later, how much do they have in their bank account? C 1 t=0 n Cash Flow Diagram ….....…... Time Value of Money (TVM) Framework PV PMT FV type How to compute using Excel? -function( rate, nper, pmt, [PV]. [type]) n CPT
K1. 15) FIGURE OUT THE NEW STATEMENT BALANCE. You have a credit card that charges 18.99% on any outstanding balances, and 25% on cash advances, plus a fee of 3% of the amount of the cash advance. The closing date on the credit card is the 1st of each month. Last month you left a balance of $1800 on your credit card. This month you took out a cash advance of $450 and made $1600 in additional purchases. You made a payment of $950. What will the total of your new balance be on your next credit card statement, considering finance charges?
2) Medwig Corporation has a DSO of 18 days. The company averages $3,000 in sales each day (all customers take credit). What is the company's average accounts receivable? Assume a 365-day year. Round your answer to the nearest dollar. $
Directions: Read each senterce carefully and determine whether the statement is TRUE or FALS E. Write your answers on the space provided before each number. 1. At the beginning of the day, you have P200 cash in your pocket. At the end of the day, you have P50 left. If you make a horizontal analysis of your cash, you would conclude that your cash has decreased by 80% during the day. 2. In 2019, Entity A reported sales of P100 and profit of P20. In a vertical analysis, a financial statement user would conclude that Entity A was able to generate 20% profit from every peso of its sales during the period. 3. Entity A reported irventory balances of P100 and P50 in 2019 and 2018, respectively. In a horizontal analysis, a financial statement user would conclude that Entity A's inventory has increased by 50% from2018 to 2019. 4. An analysis of the intenelationships of infomation in a single period, expressed as parcentages of a common denomirator, is called horizortal analysis. 5. A comparison…
Medwig Corporation has a DSO of 17 days. The company averages $8,500 in sales each day (all customers take credit). What is the company's average accounts receivable? Assume a 365-day year. Round your answer to the nearest dollar.
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