Southland Company is preparing a cash budget for August. The company has $17,000 cash at the beginning of August and anticipates $120,800 in cash receipts and $134,500 in cash disbursements during August. Southland Company wants to maintain a minimum cash balance of $10,000. To maintain the minimum cash balance of $10,000, the company must borrow:
A) $0.
B) $10,000.
C) $6,700.
D) $7,000.
E) $27,700.
C) $6,700.
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All of the following are elements in a statement of job qualifications for an for order-getting salesperson EXCEPT:
A. the physical and mental demands of the job. B. effective communication and listening skills. C. to whom a salesperson reports. D. the customers to be called on. E. the types of products and services to be sold.
Which of the following involves avoiding public embarrassment?
A. Rightsizing B. Outplacement C. Glass ceiling D. Saving face E. Sexism.
During the current year, merchandise is sold for $981,000. The cost of merchandise sold sold is $588,600.
a. What is the amount of the gross profit? $
b. Compute the gross profit percentage (gross profit divided by sales). Round to the nearest whole number. %
c. When will the income statement report net income?
In 1980, Artima Corporation purchased an office building for $400,000 for use in its business. The building is sold during the current year for $550,000. Total depreciation allowed for the building was $390,000; straight-line would have been $360,000. As result of the sale, how much Sec. 1231 gain will Artima Corporation report?
A) $150,000 B) $398,000 C) $510,000 D) $540,000