In 2009, Internationale Outstanding University (IOU) had an enrollment of 25,822 undergraduates, each of whom paid $6,374 per year in tuition. In 2010, enrollment was 27,843 students, and tuition was raised 5.7%. In 2011, IOU received $186.8M in revenue from student tuition, and enrollment was 26,462 students. In 2012, it is estimated that tuition will be $7,057 and IOU needs to receive 4.9% more total revenue from tuition than in 2011. Assuming the 2012 revenue and student enrollment goals are met, what will be the average annual growth rate of tuition for 2009 to 2012?
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- During 2020, Reliable Corporation had cash and credit sales of $21,760 and $15,225, respectively. The company also collected accounts receivable of $9,765 and incurred operating expenses of $27,700, 80% of which were paid during the year. In addition, Reliable prepaid $4,500 for an 18 month advertising campaign that began September 30. Reliable’s accrual basis net income (loss) for the year ending December 31, 2020 was: Group of answer choices A. $8,535 B. $14,075 C. ( $775) D. $9,285During 2020, Rumbo Corporation had cash and credit sales of $21,760 and $15,225, respectively. The company also collected accounts receivable of $9,765 and incurred operating expenses of $27,700, 80% of which were paid during the year. In addition, Rumbo prepaid $4,500 for an 18-month advertising campaign that began September 30. Rumbo’s accrual basis net income (loss) for the fiscal year ending December 31, 2020, was: a $14,075 b $9,285 c $8,535 d ($775)Paladin Furnishings generated $2 million in sales during 2019, and its year-end total assets were $1.4 million. Also, at year-end 2019, current liabilities were $500,000, consisting of $200,000 of notes payable, $200,000 of accounts payable, and $100,000 of accrued liabilities. Looking ahead to 2020, the company estimates that its assets must increase by $0.70 for every $1.00 increase in sales. Paladin's profit margin is 5%, and its retention ratio is 35%. How large of a sales increase can the company achieve without having to raise funds externally? Write out your answer completely. For example, 25 million should be entered as 25,000,000. Do not round intermediate calculations. Round your answer to the nearest cent.
- During its first year of operations, Cooper Company bills credit customers $19,800 for services rendered. During the year, Cooper receives $16,500 from all customers, $3,700 of which is received from cash customers. Required: What amount of revenue should be shown on the income statement for the year?Gear Up Co. pays 65% of its purchases in the month of purchase, 30% in the month after the purchase, and 5% in the second month following the purchase. What are the cash payments if it made the following purchases in 2018?Suppose that the Sales in December 2019 were 64,566. The sales are expected to grow by 6% in January 2020, by 17% in February 2020, and by 10% in March 2020. After that, the sales are expected to grow by 14%. The purchases are 10% of sales. The purchases will be paid in the same month. The general administrative expenses are $13,032 and will be paid in the same month. The depreciation expense is $6,611 per month. The interest expenses are $8,778 per quarter and will be paid in March, June, September, and December. What is the cash outflow for June, 2020?
- XYZ has forecast its sales revenues and purchases for the last 5 months of 2015 to be as follows: Sales Purchases August $22,000 $17,000 September 15,000 19,500 October 25,000 29,000 November 30,000 20,000 December 26,000 24,000 60% of sales are on credit. On the basis of past experience, 50% of the accounts receivable is collected the month after the sale and the remainder are collected 2 months after the sale. Purchases are paid 30 days after they are incurred. The firm has a cash balance of $5,000 on hand as of October 31, but its minimum required cash balance is $4,000 Required: A. Prepare a schedule of cash receipts for October, November, and December. B. Prepare a cash budget for the same period.Maggie's Muffins Bakery generated $4 million in sales during 2019, and its year-end total assets were $2.8 million. Also, at year-end 2019, current liabilities were $1 million, consisting of $300,000 of notes payable, $500,000 of accounts payable, and $200,000 of accruals. Looking ahead to 2020, the company estimates that its assets must increase at the same rate as sales, its spontaneous liabilities will increase at the same rate as sales, its profit margin will be 3%, and its payout ratio will be 75%. How large a sales increase can the company achieve without having to raise funds externally—that is, what is its self-supporting growth rate? Do not round intermediate calculations. Enter your answer for sales increase in dollars. For example, an answer of $2 million should be entered as 2,000,000.Round the monetary value to the nearest dollar and percentage value to one decimal place. Sales can increase by $ that is by 1.5 %.Maggie’s Muffins Bakery generated $5 million in sales during 2019, and its year-end total assets were $2.5 million. Also, at year-end 2019, current liabilities were $1 million, consisting of $300,000 of notes payable, $500,000 of accounts payable, and $200,000 of accruals. Looking ahead to 2020, the company estimates that its assets must increase at the same rate as sales, its spontaneous liabilities will increase at the same rate as sales, its profit margin will be 7%, and its payout ratio will be 80%. How large a sales increase can the company achieve without having to raise funds externally—that is, what is its self-supporting growth rate?
- Destiny Vacations operates in a province with 15% HST, which is charged on all sales. In the month of May, the company recorded revenue of $120,000 of vacation packages. 40% of the sales were paid in cash; the remaining sales are on credit. In addition, Destiny Vacation purchased supplies costing $50,000, and was charged 15% HST on the purchase. Destiny paid for the supplies in the same month as purchase. What is the net HST receivable or payable to the government at the end of May? Question 2 options: $3,300 payable $10,800 payable $300 receivable $10,500 payableXYZ has forecast its sales revenues and purchases for the last 5 months of 2015 to be as follows: Sales Purchase August 22,000 and 17,000 September 15,000 and 19,500 October 25,000 and 29,000 November 30,000 and 20,000 December 26,000 and 24,000 60% of sales are on credit. On the basis of past experience, 50% of the accounts receivable is collected the month after the sale and the remainder are collected 2 months after the sale. Purchases are paid 30 days after they are incurred. The firm has a cash balance of $5,000 on hand as of October 31, but its minimum required cash balance is $4,000 A. Prepare a schedule of cash receipts for October, November, and December. B. Prepare a cash budget for the same period.A Muffins Bakery generated $2 million in sales during 2019, and its year-end total assets were $1.1 million. Also, at year-end 2019, current liabilities were $1 million, consisting of $300,000 of notes payable, $500,000 of accounts payable, and $200,000 of accruals. Looking ahead to 2020, the company estimates that its assets must increase at the same rate as sales, its spontaneous liabilities will increase at the same rate as sales, its profit margin will be 6%, and its payout ratio will be 80%. How large a sales increase can the company achieve without having to raise funds externally—that is, what is its self-supporting growth rate? Sales can increase by $ ___?__, that is by _____?___%