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Ainat [17]
3 years ago
5

At January 1, 2008, Kobe Enterprises reported accounts receivable totaling $3,500. During the month, the company had credit sale

s of $5,000 and collected cash on accounts of $6,000. At the end of January, the balance in accounts receivable is:
Business
1 answer:
VashaNatasha [74]3 years ago
7 0

Answer: = $2,500

Explanation:

Given that,

Beginning accounts receivable = $3,500

Credit sales = $5,000

Collected cash on accounts = $6,000

Ending balance in accounts receivable = Beginning accounts receivable + Credit sales - Cash collections

                                                                  = $3,500 + $5,000 - $6,000

                                                                  = $2,500

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kodGreya [7K]

Answer:

The answer is "You won't lose any answers even if you're using all approved entries".

Explanation:

In the given question there is some mistake in the choices. so, we define only the correct answer.

The above-given choices describe the  Its application may also apply to the reports produced so that it can make the quality of the documentation acceptable.  

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7 0
3 years ago
Suppose Sam would like to use $6,000 of his savings to make a financial investment. One way of making a financial investment is
grin007 [14]

Answer:

The correct options are option C and Option D.

Explanation:

Lets look at each option in turn and evaluate whether they are correct or incorrect

Option A: Incorrect. This can be understood by thinking in terms of the classic demand and supply of a given item. If the company issues more shares, there will be a greater amount of shares in the market for a potential investor to buy. This additional supply of shares will put a downward pressure on the price of the shares which will cause the share price to decrease.

Option B: Incorrect. When a company issues shares to raise money, it is known as equity finance. By doing so, the company is increasing its capital which is recorded in the balance sheet under the heading of "share capital". Another statement that will be impacted is the cash flow statement under the heading of cash flow from financing activity. The income statement will not be impacted. If Sam purchases shares from another investor, the company's statements will not be impacted.

Option C: Correct. Expectations of a recession that reduce corporate profits for make investors expect a lower return on investment if they invest in a corporation's shares. This will dampen the demand, thereby decreasing the price.

Option D: Correct. An investor measures the opportunity cost of an investment by generally comparing it to the risk free return that they can get on US bonds. So the investor can alternatively invest in US govt instruments.

Option E: Incorrect. A bond maturing 30 years from now will carry a DIFFERENT interest rate due to the varying tenor. The tenor of a bond affects the risk profile of an investment in the bond which makes bonds of differing maturities offer different returns in line with expectations concerning economic performance.

7 0
3 years ago
The Importance of Starting Early.
Inessa05 [86]

Answer:

1. Lulu started saving $200/month in a 401(k) earning 6% interest compounded monthly when she was 45 years old. How much will be in her account when she retires at age 65?

Lulu made 12 x 20 = 240 payments

to calculate how much she earned we can use the future value of ordinary annuity formula:

FV annuity = payment x {[(1 + r)ⁿ - 1] / i} = $200 x {[(1 + 0.5%)²⁴⁰ - 1] / 0.5%} = $200 x 462.04 = $92,408.18

2. How much money did Lulu deposit into her account over the course of the 20 years?

240 x $200 = $48,000

3. What dollar amount of interest did her account earn?

$92,408.18 - $48,000 = $44,408.18

4. Murphy started putting $100/month into his 401(k) earning 6% APR when he was 25 years old. How much will be in his account when he retires at age 65, if interest is compounded monthly?

480 payments, again we use the same formula as in (1):

FV annuity = $100 x {[(1 + 0.5%)⁴⁸⁰ - 1] / 0.5%} = $100 x 1,991.49 = $199,149.07

5. How much money did Murphy deposit into his account over the course of the 40 years?

480 x $100 = $48,000

6. What dollar amount of interest did his account earn?

$199,149.07 - $48,000 = $151,149.07

7. Murphy's account earned how much more interest than Lulu's account?

$151,149.07 - $44,408.18 = $106,740.89

7 0
3 years ago
The following information relates to a product produced by Faulkland Company:
kvv77 [185]

Answer:

$305,000 increased

Explanation:

As the total unit cost is given i.e $23

And, the customer has offered to buy 61,000 units at $22 each

In the case of special order, the effect on operating profits is

= Difference of cost × number of units to be offered for buying

= $5 × 61,000 units

= $305,000 increased

The difference is

= Buying price offered - direct material per unit - direct labor per unit - variable overhead per unit

= $22 - $8 - $5 -$4

= $5

The selling cost is not included. Hence, ignored it

4 0
3 years ago
Kent Enterprises purchased a truck for $60,000 on January 1 of its first year. The company uses the units-of-activity method and
valentina_108 [34]

Answer:

Accumulated depreciation on car at the end of year 2 will be 22,500

Explanation:

The unit-of use Method recognize depreciation base on the use of a cost driver. This cost driver could be miles, number of units produced, or others.

\frac{Adquisition \: Value- \: Salvage \: Value}{cost \: driver}= Depreciation \: rate

(60,000-10.000)/100,000 = .5 rate per mile

acumulated depreciation at year 2

(year 1 + year 2) \times \: rate = \: accumulated \: depreciation

25,000 + 20,000= <em>45,000 total miles driven</em>

45,000 * 0.5 = 22,500

6 0
3 years ago
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