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 67 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
YES! Correct, THANKS for helping me on my review

tandmlomax84

  • Member
  • Posts: 323
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

The nitrogen cycle. Numbers represent fluxes as 1012 g N per year (data from Schlesinger 1991, after The nitrogen cycle. Numbers represent fluxes as 1012 g N per year (data from Schlesinger 1991, after
The uterus. Cutaway view shows regions of the uterus and cervix and its relationship to the uterine The uterus. Cutaway view shows regions of the uterus and cervix and its relationship to the uterine
The accessory organs of the digestive system: the liver, gallbladder, and pancreas. Image shows the The accessory organs of the digestive system: the liver, gallbladder, and pancreas. Image shows the
The geomagnetic polarity time scale shows how Earth’s magnetic pole has changed through geologic tim The geomagnetic polarity time scale shows how Earth’s magnetic pole has changed through geologic tim
A complete cranium of Au. Afarensis from Hadar, Ethiopia, shows a prognathic face and a small brainc A complete cranium of Au. Afarensis from Hadar, Ethiopia, shows a prognathic face and a small brainc
Rate of Residential Change, Past Year, in the United States Rate of Residential Change, Past Year, in the United States
Video: T cell receptors

For a complete list of videos, visit our video library