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(Appendix 10A)Gold Company Has the Following Balances at December 31

question 60

Multiple Choice

(Appendix 10A) Gold Company has the following balances at December 31, 20x0: Cash $6,000; accounts receivable $34,000 ($10,000 from November and $24,000 from December) ; merchandise inventory $40,000; and accounts payable $20,000 (for merchandise purchases only) . Budgeted sales follow: January $ 50,000
February 90,000
March 60,000
April 100,000
Other data:
*Sales are 40% cash, 50% collected during the following month, and 10% collected during the second month after sale. A 3% cash discount is given on cash sales
*Cost of goods sold is 40% of sales
*Ending inventory must be 140% of the next month's cost of sales
*Purchases are paid 70% in month of purchase and 30% in the following month
*The selling and administrative cost function is: $6,000 + $0.2 × sales. This includes $1,000 for amortization
*All costs are paid in the month incurred
*Minimum cash balance requirement is $6,000
Cash receipts for April will be:

Understand the basic configurations (delta and wye) in three-phase systems and their characteristics.

Calculate power (true power, apparent power, and reactive power) in three-phase circuits.

Determine the relationship between line and phase voltages and currents in both delta and wye configurations.

Comprehend the advantages of three-phase systems over single-phase systems regarding efficiency and power capacity.

Definitions:

Franchise Rule

Regulations established by governmental bodies to govern the sale and operation of franchises for the protection of franchisees.

Disclosures

The action of making new or secret information known, often a requirement in legal, financial, or commercial settings to ensure transparency.

Prospective Franchisees

Individuals or entities in the process of considering or negotiating to become franchise owners.

Material

Physical substances or components used in the production of goods or in the construction of projects.