Apple Two Enterprises Expects to Generate Sales of $5,950,000 for Fiscal

question 1

Multiple Choice

Apple Two Enterprises expects to generate sales of $5,950,000 for fiscal 2014; sales were $3,450,000 in fiscal 2013. Assume the following figures for the fiscal year ending 2013: cash $70,000; accounts receivable $250,000; inventory $400,000; net fixed assets $520,000; accounts payable $235,000; and accruals $155,000. Use the percent-of-sales method to forecast accounts payable for the fiscal year ending 2014.

• A) $212,036
• B) $405,290
• C) $619,619
• D) $155,000

---

Definitions:

Phenotypic Ratio

The proportional relationship between the different phenotypes (observable traits) produced by a genetic cross, often expressed in simplest whole numbers.

Heterozygous

Having two different alleles for a specific gene, one inherited from each parent.

Dominant

Relating to a trait that is expressed in an organism's phenotype, even when only one copy of the gene for that trait is present.

Genotype

The genotype is the genetic makeup of an organism, comprising all the DNA sequences that determine its inherited traits.