Answer:
Total Net Sales = $1475000
Explanation:
Average Accounts Receivables = (250000 + 300000) / 2
Average Accounts Receivables = 275000
Accounts Receivables Turnover = Credit sales / Average Accounts Receivables
So,
5 = Credit Sales / 275000
5 * 275000 = Credit Sales
Credit Sales = $1375000
Total Sales = Credit Sales + Cash Sales
Total Sales = 1375000 + 100000 = $1475000
 
        
                    
             
        
        
        
Assuming that you wanted to know how to journal this, it would be :
Dec. 31
  
                                            Debit                        Credit
Income Summary            $ 188,000
      Retained Earning                                          $ 188,000      
        
             
        
        
        
Answer:
$35,800
Explanation:
Gross Profit = Net sales - Cost of goods sold
                    = $268,100 - $145,500
                    = $122,600
Total Operating Expense:
= S, G & A Expenses + R&D expense
= $59,000 + $27,800
= $86,800
Operating Income = Gross Profit - Total Operating Expense
                                = $122,600 - $86,800
                                = $35,800
 
        
             
        
        
        
c.
Arrogantly
Explanation:
What Candice is saying here basically boils down to 'we don't need to compare this to last year's performance as I want to see positive results not negatives'<u> insinuating that the performance has become worse in the last year.</u>
<u>Regressions in a financial report mean weaker performance over the fiscal year while projections mean that the performance was better.</u>
 
        
             
        
        
        
Answer and Explanation:
Fair value refers to the current market price of the asset while historical cost is the cost at which the asset was acquired. Fair market value will always be higher than historical cost so it reflects the actual worth of the asset.
One of the qualities that makes valuing current assets at fair value rather than historical cost is the availability and reliability of current market price or fair value of current assets.