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chubhunter [2.5K]
3 years ago
12

On May 1, your firm had a beginning cash balance of $175. Your sales for April were $430 and your May sales were $480. During Ma

y, you had cash expenses of $110 and payments on your accounts payable of $290. Your accounts receivable period is 30 days. What is your firm's beginning cash balance on June 1?
Business
2 answers:
Juli2301 [7.4K]3 years ago
8 0

Answer:

Begininig cash balance June 1 205

Explanation:

Sales April 430

Sales May 480

 

Begininig cash balance May 1 175

Cash expenses                        -110

Payments                               -290

Sales april                                 430

Begininig cash balance June 1 205

dezoksy [38]3 years ago
6 0

Answer:

Firm's beginning cash balance on June 1: $205

Explanation:

+ Cash receipt from sales on account is not received until 30 days later as accounts receivable period is 30 days. As a result, Cash receipt from sales in May = Sales on credit in April = $430

+ Beginning cash balance on June is calculated as:

Beginning cash balance in May + Cash receipt from credit sales in May - Cash expenses in May - Cash payment to account payable in May = 175 + 430 -110 - 290 = $205.

So, the answer is $205.

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Love Languages is introducing an improved version of its tutoring targeted to students wanting more in-depth assistance using a
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Answer: Modified product strategy

Explanation:

 The modifying product strategy is one of the important strategy in the market as it basically refers to the value adding information and also modification in the existing products.

  • The modified product strategy also known as the product life cycle where the existing products are get modified according to the new product strategy.
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Therefore, the modified product strategy are used by the company for producing various types of new products and their aim is to produce the new product in the given original target in the market.

6 0
3 years ago
Select the correct answer. According to Maslow’s hierarchy of needs, which need consists of an individual striving for importanc
shutvik [7]

Answer:

According to Maslow's hierarchy of needs, self esteem consists of an individual striving for importance.

Explanation:

  • Maslow's hierarchy of needs suggests that people have various needs, and they must satisfy the basic needs before moving on to satisfy advanced needs.
  • There are five different levels of needs according to Maslow.
  • They are:
  1. Physiological needs-
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  4. Self esteem
  5. Self actualization
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4 0
3 years ago
Xavier and Yolanda have original investments of $50,000 and $100,000, respectively, in a partnership. The articles of partnershi
tensa zangetsu [6.8K]

Answer:

=$59,000.00

Explanation:

Original investments:

Xavier: $50,000.00

Yolanda $ 100,000.00

Allowances:

Xavier: $ 34,000.00

Yolanda : $ 26,000.00

Income at $120,000.00

Xavier allocation will be:

Calculating interest on the original investment

Xavier =20/100x $50,000.00 =$10,000.00

Yolanda=20/100 x$100,000.00 = $20,000.00

Total interest on original investments = $30,000.00

Total allowances = $34,000+$26000=$60,000.00

Shareable income= $120,000.00- ($30,000+$60,000)

      = $30,000

                  each gets $15,000.00

Xavier will get $ 15,000 + $ 10,000 +$ 34,000

=$59,000.00

5 0
3 years ago
The supplies account had a beginning balance of $1,693. Supplies purchased during the period totaled $4,413. At the end of the p
olga55 [171]

Answer:

Debit Supplies expense $5,661

Credit Supplies account $5,661

Explanation:

At the time of purchasing supplies, the entries includes a debit to supplies accounts, and a credit to cash or accounts payable which is dependent on whether the cash purchased was done via cash or an account

For supplies used, debit supplies expense and credit supplies account. The movement in supplies account over a period is due to purchases and its expressed as;

Opening balance + Purchases - Supplies used = closing balance

$1,693 + $4,413 - Supplies used = $445

$6,106 - Supplies used = $445

Supplies used = $6,106 + $445

Supplies used = $5,661

6 0
2 years ago
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