Answer:
The sales budget is prepared below. See table below.
Explanation:
<em>A sales budget shows the expected revenue and units to be sold for a forth coming accounting period. The sales budget for Patrick Inc would look as follows:</em>
Sales budget
Month Units Revenue($)
January 41,000 1,435,000
February 38,000 1,330,000
March 50,000 1<u>,750,000</u>
<u>4,515,000</u>
Note the revenue per month is determined by multiplying the unit to be sold by the price per unit of $35
The banking system in the United States is referred to as a fractional reserve bank system because banks hold a fraction of deposits on reserve.
The Reserve bank of India chiefly referred to as RBI is India's valuable financial institution and regulatory frame chargeable for the regulation of the Indian banking gadget. It is below the possession of the Ministry of Finance, authorities of India. It's miles chargeable for the manipulation, difficulty, and maintaining delivery of the Indian rupee.
The reserve bank acts as a regulator and supervisor of the general financial system. This injects public self-belief into the countrywide economic gadget, protects hobby costs, and gives wonderful banking alternatives to the general public. Subsequently, the RBI acts as the company of countrywide forex.
The Federal Reserve Banks are installed like private corporations. Member banks keep stock inside the Federal Reserve Banks and earn dividends.
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Answer: 0.48
Explanation:
P(A/B) = P(AnB)/P(B) where:
P(A/B) = The probability of event A occurring given that B has occurred.
P(AnB) = The probability of both events A and B occurring.
P(B) = the probability that event B occurs.
So let
P(A) = Probability that the residents of a household own 2 cars.
P(B) = Probability that the annual household income is greater than $25,000.
The question tells us that
P(A/B) = 0.8
Note that: P(A) = 0.7, P(B) = 0.6.
Since we want to work out P(AnB), because it gives the probability that residents have an annual household income over $25,000 and own 2 cars.
We would Rearrange our initial equation to make P(AnB) the subject formula becoming;
P(A/B) = P(AnB)/P(B)
P(B)*P(A/B) = P(AnB)
So, inserting our probabilities into this equation gives:
0.6*0.8 = 0.48
Answer:
$25,000 will be an ordinary income(FMV)
Explanation:
Kate received an offer of unrestricted partnership capital interest for the expertise services. so, Kate recognizes it's an "ordinary income"which should be booked at the fair market value of the partnership interest so offered.
i.e $25,000 is ordinary income (FMV)
Pina adjusted cash balance on April 30 is $ 6,685
Solution:
Given,
As of April 30, Pina Colada Corp. has the following bank information:
Cash balance per bank $7600
Outstanding checks $460
Deposits in transit $900
Credit memo for interest $15
Bank service charge $30
Now To find Pina adjusted cash balance on April 30 :
Adjusted Cash Balance Formula is : Cash balance + Notes receivable - Check Printing - NSF Check
Adjusted Cash Balance = $7600+ $15 - $30 - $900
Adjusted Cash Balance = $ 6,685
Pina adjusted cash balance on April 30 is $ 6,685