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 69 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

olderstudent

  • Member
  • Posts: 339
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

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?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Mechanical ventilation. The photograph shows a patient receiving breathing assistance by the use of Mechanical ventilation. The photograph shows a patient receiving breathing assistance by the use of
John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d
Nomogram chart. This example shows a line drawn from a child’s height of 100 cm to his weight, 35 ... Nomogram chart. This example shows a line drawn from a child’s height of 100 cm to his weight, 35 ...
The graph shows the effect of sonic tuning of the intake manifold runners. The longer runners ... The graph shows the effect of sonic tuning of the intake manifold runners. The longer runners ...
Increased neurogenesis in the dentate gyrus following damage. The left panel shows (1) an ... Increased neurogenesis in the dentate gyrus following damage. The left panel shows (1) an ...
starfish starfish
Video: Muscle Twitch and Muscle Tension - Motor unit size and force

For a complete list of videos, visit our video library