Start with the partial model in the file attached. Marvel Pence, CEO of Marvel’s Renovations, a custom building and repair company, is preparing documentation for a line of credit request from his commercial banker. Among the required documents is a detailed sales forecast for parts of 2020 and 2021:   Sales Labor and Raw Materials May, 2020 $75,000 $80,000 June, 2020 $115,000 $75,000 July, 2020 $145,000 $105,000 August, 2020 $125,000 $85,000 September, 2020 $120,000 $65,000 October, 2020 $95,000 $70,000 November, 2020 $75,000 $30,000 December, 2020 $55,000 $35,000 January, 2021 $45,000 N/A   Estimates obtained from the credit and collection department are as follows: collections within the month of sale, 20%; collections during the month following the sale, 60%; collections the second month following the sale, 25%. Payments for labor and raw materials are typically made during the month following the one in which these costs were incurred. Total costs for labor and raw materials are estimated for each month as shown in the table. General and administrative salaries will amount to approximately $25,000 a month; lease payments under long-term lease contracts will be $7,000 a month; depreciation charges will be $8,000 a month; miscellaneous expenses will be $5,000 a month; income tax payments of $30,000 will be due in both August and December; and a progress payment of $95,000 on a new office suite must be paid in October. Cash on hand on July 1 will amount to $70,000, and a minimum cash balance of $30,000 will be maintained throughout the cash budget period.   c. If its customers began to pay late, this would slow down collections and thus increase the required loan amount. Also, if sales dropped off, this would have an effect on the required loan amount. Perform a sensitivity analysis that shows the effects of these two factors on the maximum loan requirement.

During 2020, Pearl Company started a construction job with a contract price of $1,610,000. The job was completed in 2022. The following information is available.     2020   2021   2022 Costs incurred to date   $393,900   $760,380   $1,059,000 Estimated costs to complete   616,100   341,620   –0– Billings to date   299,000   905,000   1,610,000 Collections to date   268,000   818,000   1,421,000     Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used. Gross profit recognized in 2020   $enter a dollar amount  Gross profit recognized in 2021   $enter a dollar amount  Gross profit recognized in 2022   $enter a dollar amount    eTextbook and Media List of Accounts                             Prepare all necessary journal entries for 2021. (Credit account titles are automatically indented when amount is entered. Do not…

Subject: acounting

Please help with the COS schedule. I have included an info sheet with all breakdowns.  See below if you need this information: Income for January-actual activity based on price levels: For example, if you chose a grooming price of $25 per groom, the actual grooms in January were 4 per day assuming a 30-day month.If you chose. . .The actual # of grooms/daycare/kennelGrooming price $25  4 grooms per dayGrooming price $30  3 grooms per dayGrooming price $35  2 grooms per dayDaycare price $18  22 dogs per dayDaycare price $20  12 dogs per dayDaycare price $25  9 dogs per dayKennel price $25  12 dogs per dayKennel price $28  9 dogs per dayKennel price $30  6 dogs per day