Information pertaining to sugarland's sales revenue is presented in the following table: february march april cash sales $ 160,000 $ 150,000 $ 120,000 credit sales 300,000 400,000 280,000 total sales $ 460,000 $ 550,000 $ 400,000 management estimates that 5% of credit sales are not collectible. of the credit sales that are collectible, 60% are collected in the month of sale and the remainder in the month following the sale. cost of purchases of inventory each month is 70% of the next month's projected total sales. all purchases of inventory are on account; 25% are paid in the month of purchase, and the remainder is paid in the month following the purchase. required: 1. calculate sugarland's budgeted total cash receipts in march. 2. calculate sugarland's budgeted total cash receipts in april. 3. calculate sugarland's budgeted total cash payments in february for inventory purchases. 4. calculate sugarland's budgeted total cash payments in march for inventory purchases.

Malcolm has several receipts from recent transactions that he entered in his records. the receipts include an atm receipt for an $80.00 deposit, a grocery store receipt for $25.50, and a paycheck deposit slip for $650.00 when he finishes entering his transactions, malcolm realizes that his balance is incorrect. assuming that malcolm had no beginning balance, what should his correct balance be?

Which of the following mechanisms would be most likely to motivate managers to act in the best interests of shareholders? a) decrease the use of restrictive covenants in bond agreements, b) take actions that reduce the possibility of a hostile takeover, c) elect a board of directors that allows managers greater freedom of action, d) increase the proportion of executive compensation that comes from stock options and reduce the proportion that is paid as cash salaries, e) eliminate a requirement that members of the board directors have a substantial investment in the firm's stocks

On january 1, 2017, fisher corporation purchased 40 percent (90,000 shares) of the common stock of bowden, inc. for $980,000 in cash and began to use the equity method for the investment. the price paid represented a $48,000 payment in excess of the book value of fisher's share of bowden's underlying net assets. fisher was willing to make this extra payment because of a recently developed patent held by bowden with a 15-year remaining life. all other assets were considered appropriately valued on bowden's books. bowden declares and pays a $90,000 cash dividend to its stockholders each year on september 15. bowden reported net income of $400,000 in 2017 and $348,000 in 2018. each income figure was earned evenly throughout its respective year. on july 1, 2018, fisher sold 10 percent (22,500 shares) of bowden's outstanding shares for $338,000 in cash. although it sold this interest, fisher maintained the ability to significantly influence bowden's decision-making process. prepare the journal entries for fisher for the years of 2017 and 2018. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations. round your final answers to the nearest whole dollar.)