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hichkok12 [17]
4 years ago
5

During fiscal 2016, Plastics and Synthetic Resins Company recorded cash of $87,800 from customers for accounts receivable collec

tions. Which of the following financial statement effects template entries captures this transaction?
Balance Sheet Income Statement Cash Assets + Noncash Assets=Liabilities +Contributed +Earned Revenues-Expenses=Net IncomeCapital Capital a. Balance Sheet Income StatementCash Assets + Noncash Assets = Liabilities + Contributed + Earned Revenues - Expenses =Net IncomeCapital Capital +87,800 +87,800 +87,800 - = +87,800b. Balance Sheet Income StatementCash Assets + Noncash Assets = Liabilities + Contributed + Earned Revenues - Expenses =Net IncomeCapital Capital +87,800 -87,800 (AR)c. Balance Sheet Income StatementCash Assets + Noncash Assets = Liabilities + Contributed + Earned Revenues - Expenses =Net IncomeCapital Capital +87,800 (AR) +87,800 +87,800 - = +87,800d. Balance Sheet Income StatementCash Assets + Noncash Assets = Liabilities + Contributed + Earned Revenues - Expenses =Net IncomeCapital Capital -87,800 +87,800 (AR)
Business
1 answer:
mr Goodwill [35]4 years ago
4 0

Answer:

Correct option is B

Explanation:

When cash is received from accounts receivables, it only impacts on balance sheet that too, only on cash assets and non cash assets.

Cash will be increased and non cash asset accounts receivables will be decreased, everything else will remain constant.

Thus correct option is B

Where Cash Assets = + $87,800

Non Cash Assets = - $87,800

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wel

Answer:

yes land can contribute to production.

Land is the only place to grow crops and to do farming. if we do good to land by using organic fertilizers then production will also be good. so land is the only source for the production of crops as land provides minerals and vitamins to the plants for the production of crops.

8 0
3 years ago
Select an e-commerce company. Visit its website or mobile app and describe its business model based on the information you find
qwelly [4]

Explanation:

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5 0
3 years ago
Describe the difference between cost of goods and operating expenses.
MrRissso [65]

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8 0
3 years ago
Leyton Lumber Company has sales of $12 million per year, all on credit terms calling for payment within 30 days, and its account
s2008m [1.1K]

<u>Solution and Explanation:</u>

The following formula is used in order to calculate the days sales outstanding:

Days sales out standing = ( Accounts receivable divided by Sales )  multiply with 365

= $1.5 million divided by $12 million multiply with 365

After calculating we get, 45.625 days

<u>In order to calculate the capital released, the following formula is used: </u>

Capital released $=$ Sales $*$ (DSO - Credit period) $/ 365$

=\$ 12 \text { million } *(45.625-30) / 365

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Therefore, the capital released is $513699

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6 0
3 years ago
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