When an economy is experiencing higher real interest rates, business firms will most likely be discouraged from investing in:?

Primo Industries collected $105,000 from customers in 2019. Of the amount collected, $25,000 was for services performed in 2018.

bearhunter [10]

Answer:

a. $33,000.

b. $36,000.

Explanation:

Net income is calculated as sales minus cost of goods sold, selling, general and administrative expenses, operating expenses, depreciation, interest, taxes, and other expenses. It is also called net earnings.

Now, Cash accounting recognizes revenue and expenses only when money changes hands, but accrual accounting recognizes revenue when it's earned, and expenses when they're billed (but not paid).

a. 2014 Cash-basis net income:

Primo Industries collected $105,000 from customers in 2019

Primo Industries also paid $72,000 for expenses in 2019

=105,000-72,000

=$33,000

b. 2014 accrual-basis net income.

=(105,000-25000+40000)-(72000-30000+42000)

=120000-84000

=$36,000

5 0

3 years ago

4. Trade policies Tariffs and quotas do which of the following? Benefit domestic producers of the protected good and harm domest

irina [24]

Answer:

Benefit domestic producers of the protected good and harm domestic consumers of the protected good.

Explanation:

Trade policies tariffs and quotas benefit domestic producers of the protected good and harm domestic consumers of the protected good as they're made to pay for the consumption of imported products. Hence, under free trade there are more societal benefits due to the specialization of domestic goods.

Tariffs can reduce both the volume of exports and imports in a country.

In order to generate revenues, domestic government make use of tariffs while quotas do not generate any revenue for them.

5 0

3 years ago

Is gross profit or net profit more important to consider when you're deciding how successful and profitable a company is?

ella [17]

The gross profit is more inportant than the net profit

7 0

3 years ago

During 2018, its first year of operations, Pave Construction provides services on account of $152,000. By the end of 2018, cash

ASHA 777 [7]

The adjustment for noncollectable accounts on December 31, 2018:

Debit Bad Debts Expense $13,800

Credit Allowance for Doubtful Account $13,800

Explanation:

In Pave Construction, 2018 is the first year of operations. The company provides services on account of $152,000.

By the end of 2018, cash collections on these accounts total $106,000.

At the end of 2018, Accounts Receivable (the uncollected accounts) has debit balance of $46,000 ($152,000 - $106,000 = $46,000)

Pave estimates that 30% of the uncollected accounts will be bad debts

Bad Debts Expense = 30% x $46,000 = $13,800

The adjusting entry to record the bad debts expense will be:

Debit Bad Debts Expense $13,800

Credit Allowance for Doubtful Account $13,800

3 0

2 years ago

Smith Company’s adjusted trial balance on August 31, 2013, its fiscal year-end, follows.

CaHeK987 [17]

A compute the company’s net sales for the year

6 0

3 years ago