Business, 02.09.2021 14:10 lisaxo

The following information was made available on 31 August 2021. Balances extracted from financial records on 31 August 2021:
Equipment (including computers) at cost price
R180
000
Accumulated depreciation on equipment
60 000
Bank (dr)
112 500
Sales
ACTUAL
BUDGETED (PROJECTED)
July 2021
Aug 2021
Sept 2021
Oct 2021
Nov 2021
R135 000
R126 000
R112 500
R180 000
R225 000
e
Credit sales: 40% of all sales are on credit
Debtors collection trend:
40% in the month of sale when a 24% settlement discount is allowed for prompt settlement.
35% in the month following the sale (after 30 days)
20% in the second month following the sale (after 60 days)
The rest is written off as irrecoverable in the third month after the sale (after 90 days)
Sanitation services income
A contract was secured with a chain group of stores for R20 500 per month from
1 September 2021.
Purchases
The business uses a fixed stock base - stock sold are replaced in the same month
A fixed mark-up percentage of 50% on cost is used
25% of the purchases are paid in cash
Creditors are paid in the month following the purchases (after 30 days)
.
en

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 15:20

What is the purpose of taking a personality inventory assessment? a. to find out what personality traits you should acquire for a successful career b. to identify your personality traits and relate them to a suitable career c. to compare your personality traits with those of successful people in different careers d. to identify aspects of your personality that you can improve with the of a counselor

Answers: 3

Answer

Business, 23.06.2019 00:30

Braden’s ice cream shop is losing business. he knows that customers are no longer choosing his product because a competing product has become less expensive, yet he has refused to lower his prices. what has happened to braden’s business?

Answers: 1

Answer

Business, 23.06.2019 02:00

Present values. the 2-year discount factor is .92. what is the present value of $1 to be received in year 2? what is the present value of $2,000? (lo5-2)

Answers: 3

Answer

Business, 23.06.2019 09:50

Leading guitar string producer wound up inc. has enjoyed a competitive advantage based on its proprietary coating that gives its strings a clearer sound and longer lifespan than uncoated strings. one of wound up's competitors, however, has recently developed a similar coating using less expensive ingredients, which allows it to charge a lower price than wound up for similar-quality strings. wound up's competitive advantage is in danger due to a. a lack of perceived value b. a lack of organization c. direct imitation and substitution d. resource immobility

Answers: 3

Answer

You know the right answer?

The following information was made available on 31 August 2021. Balances extracted from financial...

Questions