This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Starfish Industries' sales budget for the first quarter of the upcoming year shows budgeted sales of ... (Read 18 times)

jlol3

  • Full Member
  • ***
  • Posts: 131
on: Feb 5, 2023

Question 1

Pro-forma financial statements are
◦ not a component of the master budget.
◦ based on historical data.
◦ used only in analyzing what has occurred in the past.
◦ based on assumed rather than actual results.

Question 2

Starfish Industries' sales budget for the first quarter of the upcoming year shows budgeted sales of $325,000, $350,000, and $310,000 in January, February, and March, respectively. All sales are made on credit. The cash receipts budget for March shows total cash receipts equal to $306,840. Starfish grants a discount to customers who pay within 10 days of the invoice. Starfish collects 60% of sales within the discount period, 20% in the month of sale but outside the discount period, 20% in the month following sale. What is the discount offered by Starfish, and what is the Accounts Receivable balance that will be reported in the March 31 pro-forma balance sheet?
◦ 6%; $62,000
◦ 6%; $73,160
◦ 4%; $70,000
◦ 4%; $73,160
Managerial Accounting ¦ Davis ¦ 4th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by jlol3 on Feb 5, 2023

msgero

  • Full Member
  • ***
  • Posts: 155
Reply #1 on: Feb 5, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 50% of students answer this correctly


jlol3

  • Member
  • Posts: 131
Reply 2 on: Feb 5, 2023
Great answer, keep it coming :)

cassie_ragen

  • Member
  • Posts: 347
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

Everyone has one nostril that is larger than the other.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Muskox populations remain in the Arctic all year, though they migrate to higher elevations in the wi Muskox populations remain in the Arctic all year, though they migrate to higher elevations in the wi
The heme group viewed from the side. This view shows the two coordination bonds to Fe2+ The heme group viewed from the side. This view shows the two coordination bonds to Fe2+
The end of a typical line wrench, which shows that it is capable of grasping most of the head of ... The end of a typical line wrench, which shows that it is capable of grasping most of the head of ...
Sign on methanol pump shows that methyl alcohol is a poison and can cause skin irritation and other ... Sign on methanol pump shows that methyl alcohol is a poison and can cause skin irritation and other ...
Age-standardized disability-adjusted life year (DALY) rates from hepatitis B by country (per 100 000 ... Age-standardized disability-adjusted life year (DALY) rates from hepatitis B by country (per 100 000 ...
A bell-shaped, or “normal,” curve shows the distribution of phenotypes for traits controlled by ... A bell-shaped, or “normal,” curve shows the distribution of phenotypes for traits controlled by ...
Video: Allergic Rhinitis

For a complete list of videos, visit our video library