The company collects 70% of credit sales in the same month and the balance in the next month. Calculate the collections from the customers for the month of February.
Camellia, a merchandising company, has provided the following extracts from their budget for the first
quarter of the forthcoming year:
C) $690,000
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From which of the following agencies does a national bank obtain its charter?
A. The Federal Deposit Insurance corporation B. The Federal Reserve C. The Office of the Comptroller of the Currency D. National Credit Union Administration
Which of the following statements is true of the Uniform Commercial Code (UCC)?
A. It always imposes the same standards on merchants and nonmerchants. B. It regards everyone covered by the UCC as a merchant. C. It has no writing requirement unless the contract contains a provision requiring that modifications for terminations be in writing. D. It expressly recognizes the concept of an unconscionable contract.
The total variance can provide useful information about the source of cost differences
Indicate whether the statement is true or false
Eastline Corporation had 11,500 shares of $5 par value common stock outstanding when the board of directors declared a stock dividend of 3795 shares. At the time of the stock dividend, the market value per share was $15. The entry to record this dividend is:
A. Debit Retained Earnings $56,925; credit Common Stock Dividend Distributable $18,975; credit Paid-In Capital in Excess of Par Value, Common Stock $37,950. B. Debit Retained Earnings $56,925; credit Common Stock Dividend Distributable $56,925. C. Debit Retained Earnings $18,975; credit Common Stock Dividend Distributable $18,975. D. Debit Common Stock Dividend Distributable $56,925; credit Retained Earnings $56,925. E. No entry is needed.