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2 years ago

Cash Received from Customers—Direct Method

1 answer:

7 0

Based on the sales figure and the change in the accounts receivable balance, the amount of cash received from customers was $14,300.

<h3>What was the amount of cash received?</h3>

The accounts receivable balance refers to the amount that customers owe to the company.

This means that if the accounts receivable balance decreases by the certain amount, it would be because that amount was paid by the customers who owe the business.

The cash paid is therefore the amount of $14,300 which the balance reduced by.

Find out more on accounts receivables at brainly.com/question/24848903.

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On January 1, 2016, Elite Advertising was contracted to run a marketing campaign for Pharm King's new dieting pills. In addition

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Answer:

A. $50,000

Explanation:

150,000 for a 3 year compaing = 50,000 per year

The contract has just started and the information available doesn't meet the criteria.

We must remember that accounting has a principle of conservatism regarding revenues. Accrue revenue without proper grounds is not correct. We should recognize the 1/3 of the base fee which is earned and matched the accounting cycle.

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3 years ago

Which buyer-readiness stage are consumers in when they are feeling favorable about the

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Answer:

The correct answer is letter "E": liking.

Explanation:

The six (6) buyer-readiness stages are awareness, knowledge, liking, preference, conviction, and purchase. In the liking stage, the consumer feels positive about the goods or services. It is caused because of many factors such as advertising which adds value to the product making it seem inviting and reachable.

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3 years ago

Raising taxes and increasing welfare payments a. proves that there is such a thing as a free lunch. b. reduces market power. c.

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Answer: Option(d) is correct

Explanation:

According to the question, increasing taxes along with increasing amount given to poor ,ill or other severe-conditioned people by government can impact the people by increment in equality state at the cost of efficiency. Efficiency of society will be at hold while equality through providing payment ,service and health care is raised in this situation.

Other options are incorrect because free lunch, reduction in power of market and increment in efficient at cost of equality will not take place if taxes are raised with pay of welfare.Thus, the correct option is option(d).

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2 years ago

Read 2 more answers

Rocky River Company is a price-taker and uses target pricing. Refer to the following information: Production volume 602,000 u

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Answer:

$26.59

Explanation:

Data provided in the question:

Production volume = 602,000 units per year

Market price = $30 per unit

Desired operating income = 15% of total assets

Total assets = $13,700,000

Now,

Target profit = 15% of $13,700,000

= $2,055,000

Sale value = 602,000 × $30

= $18,060,000

Therefore,

Total cost = sale value -target profit

= $18,060,000 - $2,055,000

= $16,005,000

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Price per unit = $\frac{\textup{Total cost}}{\textup{Production volume}}$

= $\frac{\$16,005,000}{602,000}$

= $26.586 ≈ $26.59

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3 years ago

As a result of a thorough physical inventory, Railway Company determined that it had inventory worth $180,000 at December 31. Th

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Answer:

$215,000.

Explanation:

An inventory report is a summary of items belonging to a business, industry, or organization. The physical inventory must be done in all of the locations where the firm has stocks.

If the company send inventory to a retailer as consignment, invoicing doesn’t occur until that retailer has sold said inventory. While the inventory is in the retailer’s store, the company still own it and that needs to be reflected on your Balance Sheet.

In this case, the correct amount of inventory that Railway should report is:

$180,000 of physical inventory worth + $35,000 Rogers Consignment store currently goods worth = $215,000 inventory that Railway should report.

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2 years ago