Gardner Company expects sales for October of $248,000. Experience suggests that 45% of sales are for cash and 55% are on credit. The company collects 50% of its credit sales in the month of sale and 50% in the month following sale. Budgeted Accounts Receivable on September 30 is $67,000. What is the amount of Accounts Receivable on the October 31 budgeted balance sheet?
A. $124,000.
B. $67,000.
C. $111,600.
D. $136,400.
E. $68,200.
Answer: E
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DeGaulle Enterprises, a subsidiary of Clinton Company based in New York, reported the following information at the end of its first year of operations (all in French francs): assets--4,790,000; expenses--6,500,000; liabilities--2,950,000; capital stock--1,200,000, revenues--7,140,000 . Relevant exchange rates are as follows: On date subsidiary stock was purchased ................ $0.220 Average
rate for the year ............................. 0.218 At year end ........................................... 0.216 As a result of the translation process, what amount is recorded on the financial statements as the translation adjustment? a. $1,287 debit adjustment b. $1,287 credit adjustment c. $6,080 debit adjustment d. $6,080 credit adjustment
Tyrone runs an ice cream shop on the pier in Atlantic City, New Jersey. Tyrone closes his business in winter, when the weather turns cold. What type of advertising schedule should Tyrone use?
What will be an ideal response?
Company A has a beta of 0.70, while Company B's beta is 1.45. The required return on the stock market is 9.00%, and the risk-free rate is 2.25%. What is the difference between A's and B's required rates of return? (Hint: First find the market risk premium, then find the required returns on the stocks.) Do not round your intermediate calculations.
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As a general rule, courts will __________ in recovering money or property transferred under an illegal agreement
A) assist a commercial buyer B) assist a non-commercial buyer C) assist an institutional buyer D) not aid either party