Schedule of Cash Collections of Accounts Receivable OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 20% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 20% pay their accounts in the month of sale, while the remaining 80% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows: October $115,000 November 144,000 December 210,000 The Accounts Receivable balance on September 30 was $77,000. Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar. OfficeMart Inc. Schedule of Cash Collections from Sales For the Three Months Ending December 31 October November December Receipts from cash sales: Cash sales $ $ $ September sales on account: Collected in October October sales on account: Collected in October Collected in November November sales on account: Collected in November Collected in December December sales on account: Collected in December Total cash receipts $ $ $
In: Accounting
What is “globalization” and how has it transformed the American economy? Describe what is meant by deindustrialization and the emergence of the service economy. How has this transformation affected Americans and the relationship of the American nation to the rest of the world?
In: Economics
Hoshin Planning.
This is the Japanese way of planning. It is quite different from the American way. What are some key differences in American vs Japanese planning? Discuss which may be more helpful in an organization.
In: Operations Management
Once England decided to create an overseas empire, it did so with impressive speed. Explain the motives behind English expansion to the North American continent to the North American continent, including the Great Migration.
In: Economics
1. How does Evans define a "real American"? What evidence does Evans provide that the "melting pot" is a failure?
2. What does Evan see as the true reason for the prejudice of "real" Americans against "aliens"?
3. What is your own definition of a "real" American?
4. Do you agree with Evans that immigrants never consider themselves American? What evidence could you provide to support your claim?
In: History
In: Economics
When the U.S. Government imposes a tariff on imports,
1. what happens to the price of the imported good?
2. who pays the tariff?
3. who (which domestic businesses) gains from the tariff? How?
4. how can American jobs be saved as the result of imposing tariffs on American imports?
5. how can American jobs be lost as the result of retaliation?
Your opinion: What would be your preferred trade policies?
In: Economics
South Dakota v. Wayfair has been called the "tax case of the millennium." Explain why this SCOTUS decision is so important for nexus purposes.
In: Accounting
Compared to Singapore, South Korea, Hong Kong and Malaysia, what are the advantages Australia has in promoting as an International Financial Centre (IFC)? Provide examples.
In: Finance
Compared to Singapore, South Korea, Hong Kong and Malaysia, what are the advantages Australia has in promoting as an International Financial Centre (IFC)? Provide examples.
In: Finance