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Vsevolod [243]
3 years ago
7

The first step of the accounting cycle is to

Business
1 answer:
elixir [45]3 years ago
3 0
A. Record journal entries
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Carter Corporation made sales of $ 825 million during 2018. Of this​ amount, Carter collected cash for $ 710 million. The​ compa
salantis [7]

Answer:

Part (a) The net income of carter is $115 million.

Part (b) The closing cash balance at the end of year is $360.

Explanation:

Part (a) Net Income Computation:

Sales                                     $825

Cost of goods sold             <u>(</u><u>$290</u><u>)</u>

Gross Profit                          $535

Other Expenses                  <u>(</u><u>$425</u><u>)</u>

Net income                          $115 Million

Part (b) The cash balance of  Carter is not dependent on non cash flows. So the cash transactions would be considered here for cash balance computation.

Opening Cash position               $290

Collection from Sales                  $710

Inventory Invoices paid              ($350)

For  Everything                           <u>($290)</u>

Closing Cash balance                 $360

4 0
3 years ago
The U.S. experience of strong economic growth, full employment, and price stability in the late 1990s and early 2000s can be exp
vodomira [7]

Answer:

b. rightward shift of aggregate demand and a leftward shift of aggregate supply.

Explanation:

The U.S. experience of strong economic growth, full employment, and price stability in the late 1990s and early 2000s can be explained by a rightward shift of aggregate demand and a leftward shift of aggregate supply.

The rightward shift of aggregate demand is as a result of strong economic growth and price stability.

8 0
3 years ago
Read 2 more answers
Identify values of, P, r, n, and t for the following compound interest problem and use those values and the following compound i
Crank

P, r, n, and t for the following compound interest problem and use those values and the following compound interest balance function :- p=20 , r=8 , n=64 , t=4 year

what is compound interest?

Compound interest, also known as interest on principal and interest, is the practice of adding interest to the principal amount of a loan or deposit. It occurs when interest is reinvested, or added to the loaned capital rather than paid out, or when the borrower is required to pay it, so that interest is generated the next period on the principal amount plus any accumulated interest. In finance and economics, compound interest is common.

In contrast to simple interest, which does not compound since past interest is not added to the principal for the current period, compound interest allows interest to build over time. The interest per period multiplied by the number of periods in a year yields the simple annual interest rate.

To learn more about compound interest with the help of given link:

brainly.com/question/18456266

#SPJ4

7 0
2 years ago
Which of the following statements is true of feature appeals?
Ivanshal [37]

Answer:

A. They present attributes that can be the basis of rational purchase decisions

Explanation:

A Feature appeal is an advertisement appeal that stimulate consumer's mindset towards buying a product or service provided by a company. It is therefore important that the company gets it right. Feature appeal appeal highlights the attributes of the product to influence consumers into making a purchase and is common in high-involvement products.

6 0
2 years ago
The set of buyers who share common needs or characteristics that the company decides to serve is called:
Inga [223]
Target market

I hope that helped
8 0
3 years ago
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