Budgeting Cash Collections Spencer Consulting, which invoices its clients on terms 2/10, n/30, had credit sales for May and June of $150,000 and $170,000, respectively. Analysis of Spencer’s operations indicates that the pattern of customers’ payments on account is as follows (percentages are of total monthly credit sales): Receiving Discount Beyond Discount Period Totals In month of sale 50% 25% 75% In month of following sale 10% 10% 20% Uncollectible accounts, returns, and allowances 5% 100% Determine the estimated cash collected on customers’ accounts in June. $Answer

Miko willingly admits that she is not an accountant by training. she is concerned that her balance sheet might not be correct. she has provided you with the following additional information. 1. the boat actually belongs to miko, not to skysong, inc.. however, because she thinks she might take customers out on the boat occasionally, she decided to list it as an asset of the company. to be consistent, she also listed as a liability of the corporation her personal loan that she took out at the bank to buy the boat. 2. the inventory was originally purchased for $27,500, but due to a surge in demand miko now thinks she could sell it for $39,600. she thought it would be best to record it at $39,600. 3. included in the accounts receivable balance is $11,000 that miko loaned to her brother 5 years ago. miko included this in the receivables of skysong, inc. so she wouldn’t forget that her brother owes her money. (b) provide a corrected balance sheet for skysong, inc.. (hint: to get the balance sheet to balance, adjust stockholders’ equity.) (list assets in order of liquidity.)

Uknow what i love about i ask a dumb question it is immediately answered but when i ask a real question it take like an hour to get answered

Ashop owner uses a reorder point approach to restocking a certain raw material. lead time is six days. usage of the material during lead time is normally distributed with a mean of 42 pounds and a standard deviation of four pounds. when should the raw material be reordered if the acceptable risk of a stockout is 3 percent?