McLeod Fries, Inc has budgeted sales for June and July at $680,000 and $750,000, respectively
Sales are 90% credit, of which 70% is collected in the month of sale and 30% is collected in the following month. What is the budgeted Accounts Receivable balance on July 31?
A) $225,000
B) $202,500
C) $183,600
D) $675,000
B .B) Budgeted balance of accounts receivable on July 31:
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Use the balance sheet of Maine, Inc to calculate the current ratio for 2017 and 2018
Maine, Inc Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Total Current Assets $200,000 $100,000 Property, Plant, and Equipment, Net 550,000 500,000 Other Assets 50,000 50,000 Total Assets $800,000 $650,000 Liabilities Total Current Liabilities $150,000 $100,000 Long-term Debt 350,000 250,000 Total Liabilities 500,000 350,000 Stockholders' Equity Total Stockholders' Equity 300,000 300,000 Total Liabilities and Stockholders' Equity $800,000 $650,000 What will be an ideal response
G followed the steps of adverse possession, hoping to end up owning the property. Five years into it, he was transferred across the country. H picked up where he left off, completing the requirements to seven years. This is called:
(a) Subrogation (b) Abandonment (c) Tacking (d) Severance