The LaPann Company has obtained the following sales forecast data: July August September October
Cash sales $80,000 $70,000 $50,000 $60,000
Credit sales 240,000 220,000 180,000 200,000
The regular pattern of collection of credit sales is 20% in the month of sale, 70% in the following the month of sale and the remainder in the second month following the month of sale. There are no bad debts.
Required:
1. The budgeted accounts receivable balance on September 30 is:
A) $126,000
B) $148,000
C) $166,000
D) $190,000
2. The budgeted cash receipts for October are:
A) $188,000
B) $248,000
C) $226,000
D) $278,000
3. Pitkins Company collects 20% of a month's sales in the month of sale, 70% in the month following sale and 6% in the second month following sale. The remainder is uncollectible. Budgeted sales for the next four months are:
January February March April
Budgeted sales $200,000 $300,000 $350,000 $250,000
Cash collections in April are budgeted to be:
A) $321,000
B) $313,000
C) $320,000
D) $292,000

6carla would like to buy a dress, a dresser for her bedroom, and a home theater system. she has one month's worth of living expenses in her emergency fund. carla decides to save for the home theater system. did carla make the right decision? why or why not? a. yes; her emergency fund is full and the other items will probably be less expensive. b. yes; she could save more for her emergency fund, but the home theater will be harder to save for. c. no; she should save more for her emergency fund because she has saved less than the recommended amount. d. no; she should have bought the dress and dresser first because she could afford them right away. reset next

Creation landscaping has 1,000 bonds outstanding that are selling for $1,280 each. the company also has 2,000 shares of preferred stock outstanding, currently priced at $27.20 a share. the common stock is priced at $37.00 a share and there are 28,000 shares outstanding. what is the weight of the debt as it relates to the firm's weighted average cost of capital?

Cardinal company is considering a project that would require a $2,725,000 investment in equipment with a useful life of five years. at the end of five years, the project would terminate and the equipment would be sold for its salvage value of $400,000. the company’s discount rate is 14%. the project would provide net operating income each year as follows: sales $2,867,000 variable expenses 1,125,000 contribution margin 1,742,000 fixed expenses: advertising, salaries, and other fixed out-of-pocket costs $706,000 depreciation 465,000 total fixed expenses 1,171,000 net operating income $571,000 1. which item(s) in the income statement shown above will not affect cash flows? (you may select more than one answer. single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. any boxes left with a question mark will be automatically graded as incorrect.) (a)sales (b)variable expenses (c) advertising, salaries, and other fixed out-of-pocket costs expenses (d) depreciation expense 2. what are the project’s annual net cash inflows? 3.what is the present value of the project’s annual net cash inflows? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.) 4.what is the present value of the equipment’s salvage value at the end of five years? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.) 5.what is the project’s net present value? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.)