Name: Patty Annual Income: $98,000 Annual Spending on gaming devices: $2,000 Number of purchases per year: 1 Customer lasts (stays with) the online store for 2 years Margin per purchase in Year 1: $300 Survival rate in Year 1: 100%
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Please calculate the expected profit in Year 1 if Patty was to become a new customer of this online store.
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- A local Starbucks sells gift cards of $10,000 during the year. By the end of the year, customers have redeemed $8,000 of gift cards. What will be the year-end balance in the Deferred Revenue account? a. $0. b. $2,000. c. $8,000. d. $10,000.Bingo Inc. sells on term 3/20, net 40. Total sale for the year are P1,200,000 on which 40% is cash sales. 30% pays on the 20th day and take discounts while the remaining customers always pay on time. 1. What is the average amount of accounts receivable? (Use 360-day year)B Company offered a cash rebate of P20 on each P150 package of ballpen sold during the current year. Historically, 10% of customers’ mail in the rebate form. During the year 600,000 packages of ballpen are sold, and 25,000 P20 rebates are mailed to customers. What amount of rebate expense should be reported for the current year? a. 1,500,000 b. 500,000 c. 600,000 d. 1,200,000
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- Inc. sells on term 3/20, net 40. Total sale for the year are P1,200,000 on which 40% is cash sales. 30% pays on the 20th day and take discounts while the remaining customers always pay on time. What is the average amount of accounts receivable? (Use 360-day year)Find the monthly cash flow. Income Expenses Salary: $32,000/year Rent: $700/month Pottery sales: $200/month Groceries: $150/week Household expenses: $450/month Health insurance: $150/month Car insurance: $500/6 months Donations: $600/year Miscellaneous: $800/monthPayment Calculator Property Location Fullerton Payments per year 12 Property Cost $750,000 Total Payments 360 Down Payment $75,000 Interest (APR) 4.00% Loan Amount $675,000 Payment (per month) Period (Years) 30 Pleasae use the formula PMT to determine the payment per month.
- Finance Calculating the Cost of Credit Card Purchases Directions Use the interest rate of 18% and an annual fee of $49 to complete this chart. In Month 1, there was a balance due of $3,000. The borrower will make a monthly payment of $200 and keep new purchases of goods and services at $115 per month for the year. Month 1 Calculate the interest for each month (balance x 1.5%). To obtain the balance for the next month, subtract the payment from the balance and add cost of new purchases plus monthly interest and fee. For example: $3,000 - $200 = $2800+ $115 + $94 = $3,009. (NOTE: The annual fee of $49 is paid only once.) 2 3 4 5 6 7 8 9 10 11 Interest rate: 18% (APR); 1.5% monthly 12 Balance $3,000 $3,009 $2,969.14 Payments $200 $200 Purchases $115 $115 E $49 $45 67-20112.2011 CARD WALICH FRACTORES 2017-12-221. PARTS TAPER Annual fee: $49 Interest & Fee $45.14 Interest & Fee (Cumulative) $94 $139.14 10101: Thomas Book Sales, Inc., supplies textbooks to college and university bookstores. The books are shipped with a proviso that they must be paid for within 30 days but can be returned for a full refund credit within 90 days. In 2003, Thomas shipped and billed book titles totaling $760,000. Collections, net of return credits, during the year totaled $690,000. The company spent $300,000 acquiring the books that it shipped. a. Using accrual accounting and the preceding values, show the firm’s net profit for the past year. b. Using cash accounting and the preceding values, show the firm’s net cash flow for the past year. c. Which of these statements is more useful to the financial manager? Why?Wilson Cafeteria issues gift cards, which are very popular in the small town where the restaurant is located. In a recent month, Wilson issued $4,000 in gift cards. Experience indicates that 80 percent of the cards will be redeemed before they expire. What is the entry to record the estimated gift card expense? Question 39 options: Gift Card Expense 3,200 Gift Card Payable 3,200 Expense for month ($4,000 × 80%) Gift Card Expense 4,000 Gift Card Payable 4,000 Expense for month Gift Card Payable 3,200 Gift Card Expense 3,200 Expense for month ($4,000 × 80%) Gift Card Payable 4,000 Gift Card Expense 4,000 Expense for month
