Outback Corp recorded sales of $1,300,000 in 2010, in addition the company's accounts receivable balance grew from $120,000 at the beginning of 2010 to $165,000 at the end of 2010 . How much cash did Outback collect from customers in 2010?
a. $1,300,000
b. $1,345,000
c. $1,255,000
d. $1,135,000
C
$1,300,000 + $120,000 - $165,000
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Orchard has forecast sales to be $250,000 in February, $270,000 in March, $300,000 in April, and $280,000 in May. The average cost of goods sold is 70% of sales. All sales are made on credit and sales are collected 60% in the month of sale, and 40% the month following. What is the budgeted Accounts Receivable balance on May 31?
A. $168,000 B. $112,000 C. $196,000 D. $117,600
Objectives of unemployment insurance include which of the following? I. To help unemployed workers find jobs. II. To encourage employers to stabilize employment
A) I only B) II only C) both I and II D) neither I nor II
On June 15, Peters orally offered to sell a used lawn mower to Mason for $125 . Peters specified that Mason had until June 20 to accept the offer. On June 16, Peters received an offer to purchase the lawn mower for $150 from Bronson, Mason's neighbor. Peters accepted Bronson's offer. On June 17, Mason saw Bronson using the lawn mower and was told the mower had been sold to Bronson. Mason
immediately wrote to Peters to accept the June 15 offer. Which of the following statements is correct? a. Mason's acceptance would be effective when received by Peters. b. Mason's acceptance would be effective when mailed. c. Peters's offer had been revoked and Mason's acceptance was ineffective. d. Peters was obligated to keep the June 15 offer open until June 20 (Law, #13, 3095).
If another co-worker has filed a document where you can access it if needed allows you to
A) copy the document in case of an emergency so both you and your supervisor will be able to access it. B) purge yourself of paper. C) copy the document so your supervisor will be able to access it as well. D) None of the above