What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale? Round your answers to two decimal places.     Ending Balance January   $fill in the blank 1 February   fill in the blank 2 March   fill in the blank 3

Q: In 2020, the company's inventory turnover ratio was 7.64. What is their Inventory Turnover ratio for...

A: Inventory is the stock which the company has for the purpose to sell and the business has been estab...

Q: 3.  Dumble Mr Dumble owns a large but very run-down castle, Doors Castle, and is thinking of runnin...

A: Net Present Value=Present Value of Annual Cash Flows+Present Value of Terminal Cash Flow-Initial Cas...

Q: If the Revenue (sales) decreases and everything else remains the same, what happens to the Food Cost...

A: Cost percentage or Cost ratio is the accounting ratio which shows the amount of cost incurred by fir...

Q: Mort is the owner of an apartment building containing ten identical apartments. Mort resides in one ...

A: Net income (NI), also known as net profits, is calculated by deducting sales from the cost of goods ...

Q: In recent years, Crane Company has purchased three machines. Because of frequent employee turnover i...

A: Depreciation Expense - Depreciation is charged by the company to incurred expense incurred by the co...

Q: Question 13: Which of the following payroll register columns can contain a combination of multiple w...

A: A payroll register is measure to maintain wage records/ information about gross pay, deductions, tax...

Q: How much is the amount limit for representation and entertainment expense in Philippine peso? And wh...

A: Given Representation and Entertainment expense per ITR = 132,067 Net revenue as per ITR = 9683516 In...

Q: Sold P480,000 of ABC Corporation 7% bonds at 102, plus accrued interest of P2,790.00.

A: The current portion of the investments means the amount of investment remaining after adjusting the ...

Q: On July 1, 2020, Shroff Company leased a warehouse building under a 10-year lease agreement. The lea...

A:

Q: 16. Given the following information, calculate the gross margin %: Retail Cost $144,900.00 $345,000....

A: Retail Inventory Method In the Retail Inventory method which given the details of the cost and retai...

Q: n employer in Cincinnatti, Ohio employs two individuals, whose taxable earnings to date (prior to th...

A: calculation of SUTA and FUTA tax are as follows

Q: Particulars Credit balance as per cash book 5,000 Cheques issued, but not yet presented for payment ...

A: Bank reconciliation was an statementwhich was prepared by an entity to reconcile general ledger and ...

Q: When using the Indirect Method of preparing the Statement of Cash Flows, in the operating section, s...

A: Indirect Method: When generating a cash flow statement, the indirect technique is one of two account...

Q: 2. Assuming a seven-year class of property, compute MACRS depreciation expense for each year of the ...

A: Business organizations are required to charge the depreciation expense so as to shown the value of a...

Q: Vincent was receiving rental payments of $3,000 at the beginning of every month from the tenants of ...

A: The capitalization rate: The capitalization rate or cap rate is used to determine the rate of return...

Q: An employer in Juneau, Alaska employs three individuals, whose taxable earnings to date (prior to th...

A: Calculation of SUTA , FUTA  tax are as follows.

Q: It costs Homer's Manufacturing $0.95 to produce baseballs and Homer sells them for $8.00 a piece. Ho...

A: Formula: Contribution margin = Sales revenue - variable cost.

Q: The following budgeted May cash information is available for Salado Corp.: Net after-tax income $2...

A: Dividends  declared will not have any impact on cash flows. Hence it will not be  considered  while ...

Q: Variable Cost Monthly Per Unit Sold Fixed Cost Sales Commissions Shipping Advertising Executive Sala...

A: Selling and administrative expenses budget help in determining  the estimated selling and administra...

Q: Data for 2020 taxable year of ML partnership (Domestic corporation) including partner's own income (...

A: The essential concept of partnership taxation is that all profits and losses flow through to the par...

Q: A $60,000 loan with interest at 6% compounded quarterly is being paid off with monthly payments of $...

A: The notion of the time value of money (TVM) states that an amount of money is worth more now than it...

Q: ill leave a like! City Bank currently has $500 million in transaction deposits on its balance sheet....

A: New reserve requirement as, = $ 500 million x 6% = $30 million

Q: Julie has just retired. Her company's retirement program has first option, Julie would receive a lum...

A: Present value is computed as follows: = Future value / (1 + r)n Here, r = rate of interest n = time ...

Q: or the nonconventional net cash flow series shown, the external rate of return per year using the MI...

A: ERROR is the external rate of return, MIRR is the modified internal rate of return, b is the borrowi...

Q: Each of the three Independent situations below describes a finance lease in which annual lease payme...

A: Answer -  Statement showing claculation of Annual Lease rent payment amount   Situation   1 2...

Q: In your own words, explain why moral consideration and past consideration usually do not constitute ...

A: Consideration in legal terms means something in return. It can be understood with the maxim - quid p...

Q: 31. The carrying amount of the investment on December 31, 2018 is most approximately equal to

A: Bond is the investment which has been made by the investor by way of purchasing or acquiring the bon...

Q: Particulars Credit balance as per cash book 5,000 Cheques issued, but not yet presented for payment ...

A: Sometimes the balance of the cash book and the bank statement doesn't matches. In order to reconcile...

Q: What is the % of t

A: In this question, we have to answer according to the Philippine government data. 

Q: Cost Flow Methods The following three identical units of Item LO3V are purchased during April:   I...

A:   Gross Profit Ending Inventory a. First-in, first-out (FIFO) $77 $383 b. Last-in, first-out (LI...

Q: available at July 31, 2021: Rent of $510,000 was paid on April 1, 2021, for six (6) -months to Sept...

A: The answers has been mentioned below.

Q: 1.Which of the following is not true about FICA?

A: GIVEN   the following is not true about FICA

Q: Question 3: The annual contribution limit to a 401(k) plan is Answer: А. S6,000 В. S7,000 С. $13,500...

A: 401(K) is am retirement  savings and investment  plan offered by  employer to employees.  

Q: December 31, de real estate ta December 31.

A: As per our protocol we provide solution to the one question only but you have asked three questions ...

Q: Furniture costing S68,200 is sold at its book value in 2021. Acquisitions of furniture total $53,700...

A: Please Step 2 for the General Ledger accounts as required.

Q: QUESTION 7 S started a new business on Jan 1, 2018. P purchased 30% stock of S on Jan 1 2018 for $20...

A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...

Q: Nicole organized a new corporation. The corporation began business on April 1 of year 1. She made th...

A: Organizational expenses are those that are directly tied to the company's establishment. taxable on ...

Q: Question 10: Which of the following is not a retirement plan? Answer: A. O 401(k) В. O Flexible spen...

A: The correct answer is option (b)Flexible spending account

Q: Question 6: Which of the following is not a voluntary deduction from gross earnings? Answer: A. O Un...

A: Paycheck: A paycheck is given by a business to pay a representative for services delivered. It is a ...

Q: The Souvenir Company purchased, on 1 January 2015, a machine producing embossed  souvenir badges. Th...

A: Depreciation refers to the fall in the value of an asset due to wear and tear, usage and obsolescenc...

Q: ap please

A: These are wages to the laborer that have contributed to the production of the company. These people ...

Q: On July 1, 2022, Damlen Jurado Company pays $12.000 to its insurance company fora 2-year Insurance p...

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...

Q: Mr. Maginoo owns a commercial building located in a city with a fair market value of ₱10 million. Th...

A: As per the provision of the ordinances of the sangguniang panlalawigan, the assessment level can be ...

Q: the allocation base. This period's estimat $500,000 and estimated direct labour he

A: These are the indirect cost that provides support to the direct cost in the manufacturing process of...

Q: KCC Corporation has the following transactions for the year. Prepare all the necessary entries for e...

A: Bond Valuation The valuation of bond can be either par value or discount or premium as well.  There ...

Q: Book Value Market Value P60,000 Cash P60,000 130,000 Inventory Plant Assets (net) 210,000 630,000 58...

A: Share of NCI in Identifiable net asset on the date of acquisition:     Amount (P) Cash         ...

Q: dependen les as Singie lax year Answer: А. S2,500 В. $5,000 C. S7,500 D. $10,000 B.

A: The correct answer is option (d)$10000

Q: During the current year holiday season, Bob, a barber, gave business gifts to 34 customers. The valu...

A: The correct answer is option (a)$700

Q: For each action for X co. below you should draw up a balance sheet and income statement that reflect...

A: Balance Sheet, comprise of assets, liabilities and shareholder's funds that helps several users to t...

Q: Hickory Company manufactures two products—15,000 units of Product Y and 7,000 units of Product Z. Th...

A: (1.) Which of the four activities is a product-level activity? Answer: (a) Product design. The produ...

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.