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9 months ago

suppose larry's lariats produces 25,000 lassos and sells each for $10. what is the company's total revenue?

Business

1 answer:

zmey [24]9 months ago

3 0

If Larry's Lariats produces 25,000 lassos and sells each for $10, then the company's total revenue is $250,000.

What is total revenue?
Revenue is the sum of money that a company makes by charging a certain price for its products or services. It is the starting point of an organization's income statement that establishes how much net income it generates after <u>deducting costs, taxes, and interest</u>. It is one of the most crucial line items for a business as a result. There are numerous perspectives on the same number, despite the fact that it may only be one. These different levels of insight are beneficial to investors, analysts, and businesses. Total revenue as well as marginal revenue are two of the most popular types of revenue.

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Explanation:

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3 years ago

On january 1, year 2, kincaid company's accounts receivable and the allowance for doubtful accounts carried balances of $31,000

Gala2k [10]

Answer:

$27,725

Explanation:

Given that,

kincaid company's accounts receivable = $31,000

Allowance for doubtful accounts at January 1 = $500

Wrote off receivables as uncollectible = $550

1% of credit sales

cash collections of receivables = $74,550

Accounts receivable:

= Accounts receivable at January 1 + Credit sales - Wrote off receivables as uncollectible - Cash collection of receivables

= $31,000 + $72,500 - $550 - $74,550

= $28,400

Accounts for Doubtful Accounts:

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= $500 - $550 + (0.01 × $72500)

= $500 - $550 + $725

= $675

Net realizable value of receivables:

= Accounts receivable - Accounts for Doubtful Accounts

= $28,400 - $675

= $27,725

Therefore, the net realizable value of receivables appearing on kincaid's year 2 balance sheet will amount to $27,725.

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2 years ago

The City of West Hutchison is constructing a new road, which it estimates will cost $7.2 million. The city will finance the road

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Answer:

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Explanation:

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Budgetary fund balance reserved for encumbrances (DR) $7,200,000

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Government Grant (CR) $1,200,000

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Bonds Payable (CR) $6,000,000

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