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- The check book balance of Ccc Company on December 31,2020 was P4,000,000. Data about certain cash items follow. • A customer amounting to P200,000 dated January 2,2021 was not included in the December 31,2020 checkbook balance. • Another customer check for P500,000 deposited on December 22,2020 was included in its checkbook balance but returned by the bank for insufficiency of fund. The check was deposited on January 5, 2021 and cleared two days. + A P400,000 check payable to supplier dated and recorded on December 30,2020 was mailed on January 16,2021. * A petty cash fund of P50,000 with the following summary on December 31,2020: Coins and Currencies 5,000 Petty cash vouchers 43,000 Return value of 20 cases of soft drinks 2,000 50,000 • A check of P43,000 was drawn on December 31,2020 payable to petty cash. 3. What is the "cash" balance on December 31,2020?A. Last month, a team of sales personnel recorded a Php40,000.00 monthly gross sales. The manager, in order to recognize the team's efforts, told them that he will give the team a bonus equivalent to of the gross sales for every successful transaction. But at the same time, the team must give the manager an amount that is equal to - of the gross sales for every unsuccessful transaction. The team agreed with the manager's proposal. The manager looked at the team's transaction reports and saw a total of 26 successful and unsuccessful transactions. After a few minutes, the manager concluded that the team will not receive any amount as bonus neither will give any amount to hìm as well. Is the conclusion of the manager really possible? Support your answer with mathematical computations applying the concepts of fractions. B. The monthly incomes of two persons are in the ratio 4 :5 and their monthly expenditures are in the ratio 7: 9. If each saves Php5,000.00 per month, find the monthly…Q: How the net profit is calculated for product explain and derive formula for it?
- Which of these factors would NOT be needed when prorating an expense? the total of the annual bill the real estate transfer tax amount whether the expense was prepaid or accrued the length of the calendar being used7.4 Milwaukee Surgical Supplies Inc. has gross sales for the year of $1,200,000. The collections department estimates that 30 percent of the customers pay on the tenth day, 40 percent pay on the thirtieth day, and the remaining 30 percent pay, on average, on the fortieth day after the purchase. (Assume 360 days per year.) What is the firm’s average collection period? What is the firm’s current receivables balance? What would the firm’s new receivables balance be if Milwaukee Surgical toughened up on its collection policy, with the result that the 70 percent of customersthat did not pay by the tenth day paid on day 30? Suppose that the firm’s cost of carrying receivables was 8 percent annually. How much would the toughened credit policy save the firm in annual receivables carrying expense? (Assume that the entire amount of receivables has to be financed.)32 Which of the following is a prepaid fee that is collected at closing? A) Interest B) Appraisal C) Tax service D) Title insurance
- 52. During a move to a new location, the inventory records of 98 Degrees were misplaced. The bookkeeper has been able to gather some data for the July purchases: Units - Unit cost - Total cost July 5 = 10,000 - 65 - 650,000 10 = 12,000 - 70 - 840,000 15 = 15,000 - 60 - 900,000 25 = 14,000 - 55 - 770,000 On July 31, 17,000 units were on hand. The sales for July amounted to P6,000,000 or 60,000 units at P100 per unit. The entity always used a perpetual FIFO inventory costing system. Gross profit on sales for July was P2,400,000. What was the cost of the inventory on July 31?If sale is 78 during March, 85 in April, 90 in May, 84 in June, and 97 in July, what, is the three-month simple moving average for August? a. 88.667 Ob. 90.333 O c. 97 O d. 86.8Explain or define each of these terms:c. Expected value
- The main steps in the night audit process, operating modes and prepare reportsd) Cost of the fifth unit = ? (round your response to the nearaest whole number. (How do I find the calculation for this question?)14. Digital Controls, Inc. (DCI) manufactures two models of a radar gun used by police to mon- itor the speed of automobiles. Model A has an accuracy of plus or minus 1 mile per hour, whereas the smaller model B has an accuracy of plus or minus 3 miles per hour. For the next week, the company has orders for 100 units of model A and 150 units of model B. Although DCI purchases all the electronic components used in both models, the plastic cases for both models are manufactured at a DCI plant in Newark, New Jersey. Each model A case re- quires 4 minutes of injection-molding time and 6 minutes of assembly time. Each model B case requires 3 minutes of injection-molding time and 8 minutes of assembly time. For next week the Newark plant has 600 minutes of injection-molding time available and 1080 min- utes of assembly time available. The manufacturing cost is $10 per case for model A and $6 per case for model B. Depending upon demand and the time available at the Newark plant, DCI…