7. The following data pertains to the budget reports of Jawbone, a company specializing in wearable...

 

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7. The following data pertains to the budget reports of Jawbone, a company specializing in wearable technology. Jan Feb Sales $305,000 $330,000 Purchases $150,000 $181,000 Additional information: Purchases are paid 50% in month of purchase and 50% in the following month COGS are 60% of sales A. $342,500 B. $320,000 C. $290,000 March May April $365,000 $290,000 $315,000 $270,000 $205,000 $185,000 Sales collections are collected 70% in month of sale and 30% in the following month • Selling and Administrative costs are 15% of sales each month (paid in cash monthly) Interest payments are paid in February and July and the monthly interest is $1000 Jawbone is planning to declare cash dividends in April to be paid in May: $41,000 The balance in Retained Earnings is expected to be on March 31: $18,500 • The cash balance as of April 1 is expected to be $28,000 7A. What is the amount of cash Jawbone is collecting in April? D. $410,000 E. None of the above 7B. What are Jawbone's cash disbursements for April? A. $255,700 B. $310,500 C. $230,000 D. $292,250 E. None of the above June $285,000 $140,000 7C. What is the expected balance in Retained Earnings in the end of April? A. $ 90,000 B. $67,750 C. $55,500 D. $61,000 E. None of the above 7. The following data pertains to the budget reports of Jawbone, a company specializing in wearable technology. Jan Feb Sales $305,000 $330,000 Purchases $150,000 $181,000 Additional information: Purchases are paid 50% in month of purchase and 50% in the following month COGS are 60% of sales A. $342,500 B. $320,000 C. $290,000 March May April $365,000 $290,000 $315,000 $270,000 $205,000 $185,000 Sales collections are collected 70% in month of sale and 30% in the following month • Selling and Administrative costs are 15% of sales each month (paid in cash monthly) Interest payments are paid in February and July and the monthly interest is $1000 Jawbone is planning to declare cash dividends in April to be paid in May: $41,000 The balance in Retained Earnings is expected to be on March 31: $18,500 • The cash balance as of April 1 is expected to be $28,000 7A. What is the amount of cash Jawbone is collecting in April? D. $410,000 E. None of the above 7B. What are Jawbone's cash disbursements for April? A. $255,700 B. $310,500 C. $230,000 D. $292,250 E. None of the above June $285,000 $140,000 7C. What is the expected balance in Retained Earnings in the end of April? A. $ 90,000 B. $67,750 C. $55,500 D. $61,000 E. None of the above

Answer rating: 100% (QA)

ANSWER 7A What is the amount of cash Jawbone is collecting in April A 342500 7B What are Jawbones ... View the full answer