You plan on starting a lawn mowing business by investing $700 of your own money and...
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You plan on starting a lawn mowing business by investing $700 of your own money and purchasing $500 of equipment. You plan to work 360 hours per month and charge your customers $19 per hour. Your anticipated costs include: Advertising Gas Depreciation Assistant's Wages Miscellaneous Expenses Calculate your budgeted Sales Revenue for the month. You plan on starting a lawn mowing business by investing $700 of your own money and purchasing $500 of equipment. You plan to work 70 hours in your first month and 330 hours in your second month of business. You charge your customers $19 per hour. Your anticipated costs include: Advertising Gas $73 per month $1.20 per hour $25 per month $8.00 per hour $20 per month Depreciation Assistant's Wages Miscellaneous Expenses $7 per month $1.50 per hour $25 per month $7.00 per hour $50 per month You plan on collecting 90% of your sales in the month you mow the lawn and the remainder in the following month. Calculate the accounts receivable balance at the end of your second month of business. You plan on starting a lawn mowing business by investing $700 of your own money and purchasing $500 of equipment. You plan to work 360 hours per month and charge your customers $19 per hour. Your anticipated costs include: Advertising Gas Depreciation Assistant's Wages Miscellaneous Expenses Calculate your budgeted Sales Revenue for the month. You plan on starting a lawn mowing business by investing $700 of your own money and purchasing $500 of equipment. You plan to work 70 hours in your first month and 330 hours in your second month of business. You charge your customers $19 per hour. Your anticipated costs include: Advertising Gas $73 per month $1.20 per hour $25 per month $8.00 per hour $20 per month Depreciation Assistant's Wages Miscellaneous Expenses $7 per month $1.50 per hour $25 per month $7.00 per hour $50 per month You plan on collecting 90% of your sales in the month you mow the lawn and the remainder in the following month. Calculate the accounts receivable balance at the end of your second month of business.
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
Posted Date:
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