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Problem 14-23 Preparing a master budget for retail company with no beginning account balances LO 14-2, 14-3, 14-4, 14-5, 14-6

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Finch Company is a retail company that specializes in selling outdoor camping equipment. The company is considering opening a new store on October 1, 2019. The company president formed a planning committee to prepare a master budget for the first three months of operation. As budget coordinator, you have been assigned the following tasks:

Problem 14-23 Part 1

Required

1. October sales are estimated to be $340,000, of which 35 percent will be cash and 65 percent will be credit. The company expects sales to increase at the rate of 20 percent per month. Prepare a sales budget.

2. The company expects to collect 100 percent of the accounts receivable generated by credit sales in the month following the sale. Prepare a schedule of cash receipts.

3. The cost of goods sold is 70 percent of sales. The company desires to maintain a minimum ending inventory equal to 20 percent of the next month’s cost of goods sold. However, ending inventory of December is expected to be $12,500. Assume that all purchases are made on account. Prepare an inventory purchases budget.

4. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 percent in the following month. Prepare a cash payments budget for inventory purchases.

5. Budgeted selling and administrative expenses per month follow:

1. *The capital expenditures budget indicates that Finch will spend $133,000 on October 1 for store fixtures, which are expected to have a $25,000 salvage value and a two-year (24-month) useful life.

Use this information to prepare a selling and administrative expenses budget.

6. Utilities and sales commissions are paid the month after they are incurred; all other expenses are paid in the month in which they are incurred. Prepare a cash payments budget for selling and administrative expenses.

7. Finch borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any amount available. The company also pays its vendors on the last day of the month. It pays interest of 2 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $17,000 cash cushion. Prepare a cash budget.

8. Prepare a pro forma income statement for the quarter.

9. Prepare a pro forma balance sheet at the end of the quarter.

10. Prepare a pro forma statement of cash flows for the quarter.

Problem 25.57

On your first day at work as an electrical technician, you are asked to determine the resistance per meter of a long piece of wire. The company you work for is poorly equipped. You find a battery, a voltmeter, and an ammeter, but no meter for directly measuring resistance (an ohmmeter). You put the leads from the voltmeter across the terminals of the battery, and the meter reads 12.0 V . You cut off a 20.0-m length of wire and connect it to the battery, with an ammeter in series with it to measure the current in the wire. The ammeter reads 7.00 A . You then cut off a 40.0-m length of wire and connect it to the battery, again with the ammeter in series to measure the current. The ammeter reads 4.50 A . Even though the equipment you have available to you is limited, your boss assures you of its high quality: The ammeter has very small resistance, and the voltmeter has very large resistance.

What is the resistance of 1 meter of wire?in ohm

What did you learn about this structure that was a surprise to you or resonated with you about building relationships in the workplace? Did the people who built this wall have to work together? Are there any lessons to be learned about building relationships across philosophical divides (differing world views) in the workplace?

Note: Please avoid comments or references to the southern border between Mexico and the USA. This is a highly controversial subject and your comments may be taken out of context and appear as harassment. Any comments about the southern border or Mexico will be immediately removed and points deducted from your score

Need understanding for the concept to the question below.

Write 2 paragraphs on an advertisements that illustrate the needs for power and discuss their effectiveness.

Need understanding understanding the concept to the question below.

Write 2 paragraphs on an advertisements that illustrate the needs for achievement and discuss their effectiveness.

What is enhanced ER Model? Explain extended ER features: Specialization, Generalization and Aggregation with your clear definitions/ideas/differences in your own words and give at least one appropriate example for each one of them.

Summit Credit Union, located in Madison and Milwaukee, Wisconsin, is a small company with 366 employees. A merger in 2015 doubled the size of the company and made it necessary to build a new corporate culture. Summit’s mission is to improve credit members’ financial lives to help them achieve their dreams. For example, in 2013 Summit members saved over $13 million based on higher savings rates, lower loan rates, and lowerfees compared to for-profit banking institutions in Wisconsin. Summit has invested in creating a world-class learning function, which includes a team of seven professionals who are able to design and deliver instructor-led training as well as e-learning. Summit has shifted away from generic off-the-shelf training to develop online and face-to-face programs customized to employee needs and the company’s goals and initiatives. For example, the learning function is expected to play a key role in dealing with business issues such as efficiency, loan growth, and increased sales. All learning staff members are expected to contribute to new company initiatives, such as new products and services, systems, or regulations. Summit has recently identified a problem with its new lenders. They were starting to perform their jobs without the necessary skills, information, and knowledge that they needed. One potential reason for this is how the lending training curriculum is organized. New lenders attend a course on different types of loans and the lending system, start their jobs, and then later return for a course on lending guidelines, underwriting, and sales skills. Analysis: Analyze your training objectives using SMART training goals. Provide your analysis of your objectives, your brainstorming of the connections to future pieces of training (where applicable), and create your training goals

To test whether the enactment of seatbelt legislation had any association with injuries to vehicle users, a random sample of 7676 individuals taken over a two-year period (one year prior legislation and one year post legislation) was used. The results are detailed below.

Please write a summary statement for this hypothesis test.

The proliferation of social media has made it easier for companies to reach out to their customers. Companies, especially new start-ups, may not afford to dive into every social media channel. They, instead, choose several platforms and focus exclusively on delivering quality content to target customers. Thus, they need to ask themselves: what social media platforms should they choose, and what factors should they consider when determining the most suitable platforms? What is your opinion? 2 paragraphs

, design the information security of an organization

Need the basic understanding of the question below.

Write 2 paragraphs about an advertisements that  illustrate the needs for affiliation?

The world has been struggling to contain the spread of the Covid-19 pandemic using measuring such as lockdowns and travel restrictions. These measures have created economic pain all across the world. To help ease the economic impact, governments and monetary authorities have mooted stimulus packages. Bank of South Africa, in particular, has taken a number of measures to support economic activity and avoid a collapse of the economy. Among these measures include: a decision to keep monetary policy unchanged despite rising inflation; $1 billion stimulus package for strategic sectors; promise to provide more liquidity to the money market. As a student of monetary policy, discuss the expected economic implications of these measures citing practical examples.

In OB theory and other than "legitimate" power name and briefly describe 4 other bases of individual power in an organization?