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ioda
3 years ago
8

Notes or accounts receivables that result from sales transactions are often called A. non-trade receivables.B. trade receivables

.C. merchandise receivables.D. sales receivables
Business
1 answer:
oksian1 [2.3K]3 years ago
7 0

Answer:

B. trade receivables

Explanation:

Trade receivables are amounts billed by a company to its clients when it delivers goods or services to them in the ordinary course of business, not been collected at the sale moment, but in the future. This may or may not include interest.

Instead, non-trade receivables are amounts owed to the company that falls outside of the normal course of business, such as employee advances or insurance reimbursements.

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MFG Company experiences the following cost behavior patterns each week: Fixed costs: supervisor’s salary $3,000; factory rent $6
s2008m [1.1K]

Answer:

Total cost= $204,750

Explanation:

Giving the following information:

Fixed costs: supervisor’s salary $3,000; factory rent $6,500

Mixed costs: utilities $3,500 + $10.25 per unit

Variable costs per unit:

manufacturing labor wages $30.00

supplies used in production $13.50

packaging cost $7.25

warranty cost $4

Required: Compute total costs to be incurred for a week with 2,950 units of activity.

Fixed costs= 3,000 + 6,500 + 3,500= $13,000

Variable costs= (10.25 + 30 + 13.5 + 7.25 + 4)*2,950= $191,750

Total cost= $204,750

4 0
3 years ago
Tessler farms has a return on equity of 11.28 percent, a debt-equity ratio of 1.03, and a total asset turnover of .87. what is t
Digiron [165]
<span>Return on equity = 11.28 percent = 11.28/100 = 0.1128
debt-equity ratio =1.03
total asset turnover = 0.87
return on assets = ?
we can find return on assets by using the formula
= return on equity / (1 + debt equity ratio)
= 0.1128 / (1 + 1.03)
= 0.1128 / 2.03
= 0.0556 = 0.0556 x 100 = 5.56%
So, the return on assets is 5.56%</span>
8 0
3 years ago
In 2018, Gail had a § 179 deduction carryover of $30,000. In 2019, she elected § 179 for an asset acquired at a cost of $115,000
Colt1911 [192]

Answer:

The answer is: Gail's § 179 deduction for 2019 is $145,000

Explanation:

§ 179 of the IRS Code, allows taxpayer to either:

  • deduct the cost of certain types of property from gross income taxes as an expense
  • allow the cost of the property to be capitalized and depreciated.

If Gail had a § 179 deduction carryover of $30,000 and then she acquired an asset for $115,000, her total § 179 deduction for 2019 is $30,000 + $115,000 = $145,000

8 0
3 years ago
Cast Iron Grills, Inc., manufactures premium gas barbecue grills. The company uses a periodic inventory system and the LIFO cost
sammy [17]

Answer:

a) ending inventory:     11,850,000

   cost of goods sold: 25,200,000

  gross profit               25,200,000

b)

ending inventory:     1,800,000

cost of goods sold:  23,100,000

gross profit  50,400,000 - 23,100,000 =  27,300,000

Explanation:

5,200 at $600

4,100 at $700

6,200 at $800

purchase 29,000 at $900

-sold 28,000 grills

As we use LIFO we sale from the last purchase thus, 29,000 - 28,000 = 1,000 of this units are added as another layer for the inventory account

<em><u>ending inventory</u></em>

5,200 at $  600

4,100 at $   700

6,200 at $  800

1,000  at $  900

Total    $ 11,850,000

cost of good sold:

28,000 x $900 = $25,200,000

sales revenue

28,000 x 900 x 200% = $50,400,000

gross profit sales revenue less COGS

b) 5,200 at $600

4,100 at $700

6,200 at $800

<em>purchase 15,500 at $900 </em>

-sold 28,000 grills

we check how many layer deep we go:

28,000 - 15,500 at 900= 12,500

12,500  -  6,200  at 800=  6,300

6,300 - 4,100 at 700      =  2,200  at 600

<em><u /></em>

<em><u>Ending Inventory </u></em>

3,000 at $600 = $ 1,800,000

COGS:

15,500 x 900 + 6,200 x 800 + 4,100 x 700 + 2,200 x 600 = 23,100,000

3 0
3 years ago
Gustavson Corporation uses the direct method to allocate service department costs to operating departments. The company has two
trapecia [35]

Answer:

C) $340,240

Explanation:

                                     Service Department  Operating Department

                                  Administrative Facilities  Assembly Wholesaling

Departmental costs $26,840     $59,400   $183,430   $321,190

Employee time (hours)      4,000       2,000     29,000 15,000

Space occupied - sq ft     2,000       2,000     30,000  6,000

total administrative costs = $26,840

total employee hours = 29,000 + 15,000 = 44,000

administrative cost per employee hour = $26,840 / 44,000 = $0.61

total facilities costs = $59,400

total square feet = 30,000 + 6,000 = 36,000

administrative cost per employee hour = $59,400 / 36,000 = $1.65

total Wholesaling Department cost = $321,190 + ($0.61 x 15,000) + ($1.65 x 6,000) = $321,190 + $9,150 + $9,900 = $340,240

5 0
3 years ago
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