Dilly Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow:•Sales are budgeted at $290,000 for November, $310,000 for December, and $210,000 for January. •Collections are expected to be 65% in the month of sale and 35% in the month following the sale. •The cost of goods sold is 80% of sales. •The company desires to have an ending merchandise inventory at the end of each month equal to 70% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. •Other monthly expenses to be paid in cash are $21,100. •Monthly depreciation is $21,000. •Ignore taxes. Balance SheetOctober 31Assets Cash$25,000Accounts receivable 77,000Merchandise inventory 162,400Property, plant
and equipment, net of $624,000 accumulated depreciation 1,026,000Total assets$1,290,400 Liabilities and Stockholders' Equity Accounts payable$239,000Common stock 740,000Retained earnings 311,400Total liabilities and stockholders' equity$1,290,400?The cash balance at the end of December would be:
A. $38,300
B. $57,900
C. $25,000
D. $69,100
Answer: D
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Wolfe Co was incorporated on July 1 . 2014, with $200,000 from the issuance of stock and borrowed funds of $30,000 . During the first year of operations, net income was $10,000 . On December 15, Wolfe paid an $800 cash dividend. No additional activities affected owners' equity in 2014 . At December 31 . 2014, Wolfe's liabilities had increased to $37,600 . In Wolfe's December 31 . 2014, balance
sheet, total assets should be reported at a. $239,200. b. $240,000. c. $246,800. d. $276,800.
Lowell is anticipating an objection from his prospect concerning the quality of the adhesives that his company sells. He plans to weave into the early part of his presentation the information about the product's recent "best buy" rating from a consumer information magazine before the prospect can bring up the quality issue. What method is he using for meeting this objection?
A. Forestalling B. Circular logic C. Postponing D. Objection procrastination E. Stalling
A strategic group
A. consists of those industry members that are growing at about the same rate and have similar product line breadth. B. includes all rival firms having comparable profitability. C. is a cluster of industry members with similar competitive approaches and market positions in the market. D. is made up of those firms having comparable profit margins. E. consists of those firms whose market shares are about the same size.
The constraint (x1 + x2 + x3 + x4 = 2) means that ________ out of the ________ projects must be selected. A) exactly 1, 2
Assume that we are using 0-1 integer programming model to solve a capital budgeting problem and xj = 1 if project j is selected and xj = 0, otherwise. B) exactly 2, 4 C) at least 2, 4 D) at most 1, 2