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slavikrds [6]
3 years ago
5

On January 1, Year 5, customers owed Eagle $40,000. On December 31, Year 5, customers owed Eagle $30,000. Eagle uses the direct

write‐off method for bad debts. No bad debts were recorded in Year 5. Under the cash basis of accounting, what amount of net revenue should Eagle report for Year 5?
Business
1 answer:
irinina [24]3 years ago
3 0

Answer:

$200,000

Explanation:

The computation of the net revenue is shown below:

= Cash sales gross - Returns and allowances + credit sales gross - discounts + beginning balance of account receivable - ending balance of account receivable  

= $80,000 - $4,000 + $120,000 - $6,000 + $40,000 - $30,000

= $200,000

We simply first compute the net cash sales after considering the returns and allowances, and net credit sales after considering the discounts, and deduct the ending balance of account receivable

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Capital budgeting decisions ______. Multiple select question. involve an immediate cash outlay in order to obtain a future retur
pshichka [43]

Answer:

involve an immediate cash outlay in order to obtain a future return

require a great deal of analysis prior to acceptance

Explanation:

A capital budgeting decision refers to an investment and the financial commitement. If we considered a project so here the business is making the financial commitment and at the same time it invest in the longer period that have an influence on the future projects

So it is an instant cash outflow for gaining a future return and also have a great deal before accepting it

7 0
3 years ago
Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.)
Mariulka [41]

Answer:

<u>GOMEZ CORPORATION </u>

<u>Comparative Income Statements</u>

<u> For Years Ended December 31</u>

<u>                                           Current Year                     Prior Year</u>

<u>                                               $                 %                          $                      % </u>

Sales                                  $785,000      100                    $640,000         100

Cost of goods sold                568,100     72.4                     288,800         45.1

Gross profit                            216,900     27.6                     351,200         54.9

Operating expenses                130,400    16.6                     221,600         34.6

Net income                               $86,500   11.0                       $129,600     20.3

The figure used to calculate the percentages is that of sale revenue. Each figure is expressed as a percentage of sales to determine the percent of expenses , profits etc.

5 0
3 years ago
The 1950s were marked by great suspicion about advertisers and their potential persuasive powers. Do you see any lingering effec
Mars2501 [29]

Answer: Yes I do.

Explanation:

The 1950s were a time of great fear to people in the developed world. They feared that as the Cold War was just beginning, there were being watched by foreign powers and that they couldn't trust a lot of people because they didn't know who was who. Especially in America where the fear of Communism gripped the nation. They did not know if certain adverts were Communist Propaganda and they feared that sometimes the information government's had about them was used to Target them.

This fear is still quite evident today. Take the 2016 Election rumours for instance. Certain Social media platforms claimed that foreign powers used their sites to advertise the President and get him elected. The ease by which this was accepted showed that people do indeed still have fear advertising.

3 0
3 years ago
Read 2 more answers
Groups of countries that seek mutual economic benefit from reducing interregional trade and tariff barriers are called _________
soldier1979 [14.2K]

Answer:

c

Explanation:

Multinational market regions are groups of countries that seek mutual economic benefit from reducing interregional trade and tariff barriers.

Types of multinational market regions

  1. Regional Cooperation Groups.
  2. Free Trade Area  
  3. Customs Union.
  4. Common Market  
  5. Political Union
3 0
3 years ago
On September 1, the board of directors of Colorado Outfitters, Inc., declares a stock dividend on its 16,000, $7 par, common sha
Otrada [13]

Answer:

See the answers and explanation below.

Explanation:

a. the necessary journal entries assuming a small (10%) stock dividend

<u>Date       Details                                                           Dr ($)            Cr ($)</u>

Sept. 1    Stock Dividends (16,000 * 36 * 10%)               57,600

              Common Stock (16,000 * 7 *10%)                                      11,200

              Additional Paid-in Capital - Common Stock                    46.400

<u><em>               To record a small (10%) stock dividend on common stock.    .</em></u>

b. the necessary journal entries assuming a large (100%) stock dividend

<u>Date       Details                                                          Dr ($)            Cr ($)</u>

Sept. 1    Stock Dividends (16,000 * 7 * 100%)              112,000

              Common Stock (16,000 * 7 *10%)                                      112,000

<u><em>               To record a large (100%) stock dividend on common stock.   .</em></u>

c. the necessary journal entries assuming a 2-for-1 stock split.

"No journal entry required"

Note: Although no journal entry is required here but the number of common stock will increase to 32,000 (i.e. 16,000 * 2 = 32.00).

6 0
3 years ago
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