Harris Electronics, a music publishing firm located in Tennessee, bills its clients on the first of the month
For example, any sale made in the month of July is billed August 1 and is due September 1. Clients traditionally pay as follows: 50% by the end of the first month (August), 40% by the end of the second month (September), 8% by the end of the third month (October), and 2% default on their bills. What is the total dollar value of first-quarter actual sales that will NOT be collected?
A) $12,900
B) $1,760
C) $5,160
D) $3,460
Answer: C
Explanation: C) Total sales × % uncollected = ($88,000 + $74,000 + $96,000) × 0.02 = $5,160.
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An example of an intangible resource is_________.
a. Jantix Corporation has a reputation of having high quality customer service. b. Jantix has a large and easily accessible inventory of products. c. Jantix owns the largest production facility in Montana. d. Jantix employs the second largest number of employees in Montana.
The current period earnings column of the payroll register only includes regular and overtime earnings
Indicate whether the statement is true or false
Mullins Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 700 Materials costs$11,500 Conversion costs$22,200 Percent complete with respect to materials 75%Percent complete with respect to conversion 65%Units started into production during the month 8,600 Units transferred to the next department during the month 7,800 Materials costs added during the month$159,300 Conversion costs added during the month$348,500 Ending work in process inventory: Units in ending work in process inventory 1,500 Percent complete with respect to materials 65%Percent complete with respect to
conversion 50%What are the equivalent units for conversion costs for the month in the first processing department? A. 9,300 B. 750 C. 7,100 D. 8,095
A significant advantage of the internal rate of return is that it
A) considers all of a project's cash flows and their timing. B) avoids the size disparity problem. C) provides a means to choose between mutually exclusive projects. D) provides the most realistic reinvestment assumption.