Five individuals organized Miami Music Corporation on January 1. At the end of January 31, the following monthly financial data are available: Total Revenues $ 133,000
Operating Expenses 90,700
Cash 31,800
Accounts Receivable 25,500
Supplies 41,100
Accounts Payable 24,500
Common Stock 31,600
No dividends were declared or paid during January.
a. Does Miami Music Corporation have sufficient resources to pay its liabilities?
Yes
No
b. Which financial statement indicates this?
i. Income Statement
ii. Statement of Retained Earnings
iii. Balance Sheet
iv. Statement of Cash Flows

Jordan, inc. sells fireworks. the company’s marketing director developed the following cost of goods sold budget for april, may, june, and july. april may june july budgeted cost of goods sold $62,000 $72,000 $82,000 $88,000 jordan had a beginning inventory balance of $3,000 on april 1 and a beginning balance in accounts payable of $14,600. the company desires to maintain an ending inventory balance equal to 15 percent of the next period’s cost of goods sold. jordan makes all purchases on account. the company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. required prepare an inventory purchases budget for april, may, and june. determine the amount of ending inventory jordan will report on the end-of-quarter pro forma balance sheet. prepare a schedule of cash payments for inventory for april, may, and june. determine the balance in accounts payable jordan will report on the end-of-quarter pro forma balance sheet.

How much are you willing to pay for a zero that matures in 10 years, has a face value of $1,000 and your required rate of return is 7%? round to the nearest cent. do not include a dollar sign in your answer. (i.e. if your answer is $432.51, then type 432.51 without $ sign)

The face of a company is often that of the lowest paid employees who meet the customers. select one: true false