Answer:
(a) $200,100
(b) $200,100
Explanation:
The movement in the accounts receivable balance at the start and end of an accounting period is due to cash payments, additional credit sales, and any amount written off during the period.
This may be expressed mathematically as
opening balance + sales - cash collected - amount written off = closing balance
$35,100 + $361,800 - cash collected = $196,800
Cash collected = $35,100 + $361,800 - $196,800
= $200,100
Answer:
The correct answer is Congruence.
Explanation:
Any company that makes its financial statements available to the public will conform to GAAP standards. The congruence principle is one of the fundamental lines established by the Financial Accounting Standards Board (FASB) This process is different from the cash accounting principles that the total amount of income or expenses is recorded regardless of when They have an impact on the cash flow of the company. The GAAP congruence principle helps to provide a clear and accurate picture of cash on hand, the revenue generated and expenses incurred at a specific point in time (see Resources below).
In order to minimize errors and provide accurate account information during the accounting period, companies can recognize expenses and revenues that occur within a time-giving period. The GAAP congruence principle recognizes expenses when they are incurred, and when it distinguishes between deferred income and accrued expenses in order to determine its real value of the company at a given time.
Answer:
Option d: Not recorded in the journal or posted to the ledger
Explanation:
The indirect method of statement of cash flows presentation initially starts with net income or loss and there is always anadditions to or deductions from that amount for the items which are a non-cash revenue and expense items. This usually leads to a cash flow that emanated from operating activities.The method as used for the preparation of the statement of cash flows also can be said to entails detailed analysis of net income along withchanges in balance sheet accounts thereby leading to the amount of cash gotten by operating activities.
Answer: D. Since Hiro’s economic profit is negative, he would be better off if he didn’t operate the consulting business and taught economics instead.
Explanation:
Economic Cost is calculated by taking into account all costs, both Implicit and Explicit. Implicit Costs are also known as Opportunity costs and are referred to as the income you could be earning if you were doing the alternative.
Hiro's Economic Cost can hence be calculated by,
Economic Cost = Implicit costs + Explicit Costs
= (50,000 + 100) + 57,000
= <em>$107,000</em>
Subtracting that from his Revenue per year gives,
= 100,000 - 107,000
= -<em>$7,000</em>
Hiro is experiencing an Economic Loss by operating his business and would be better off Teaching Economics at the small local college.
The three main types of consumer goods are:
- durable goods
- nondurable goods
- services.
Marketing can be regarded as the activity as well as set of institutions, which helps in the establishment of communicating between consumers and manufacturer.
The four basic ideas that combine to represent marketing are:
- product
- price
- place
- promotion
The relationship between marketing and the economy is that economy can impact marketers so as to push their products to consumers.
<h3>What is marketing?</h3>
Marketing can be regarded as the activity as well as set of institutions, which helps in the establishment of communicating, as well as delivering of value for customers.
Learn more about consumer goods at:
brainly.com/question/380037
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