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3 years ago

Are advanced receipts from customers treated as revenue at the time of receipt? Why or why not?

Business

1 answer:

Ivanshal [37]3 years ago

5 0

Answer:

Explanation:

The receipt received from customer is view as expense and expense is not a revenue.

The receipt can be issue after purchase or return of good. so in this particular case its not a revenue. Thank you

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Which of the following were provisions of the Monetary Control Act of 1980? Check all that apply.

egoroff_w [7]

Answer:

The correct answers are letters "B" and "C": The act allowed the Federal Reserve to set uniform reserve requirements for all commercial banks; and, the act allowed commercial banks to pay unrestricted interest rates on checking accounts.

Explanation:

The Monetary Control Act (<em>MAC</em>) passed in 1980 is considered to be the first set of rules established in the banking industry after the Great Depression (1929). It mainly forced all the banks to remain under the rules of the Federal Reserve. Besides, it provided banks the autonomy to choose the interest rate on accounts under their own discretion.

7 0

3 years ago

dit sales of $42,000 and $68,000, respectively. The company expects to collect 60% of its credit sales in the month of the sale,

blagie [28]

Answer:

cash collections from credit sales that the company will include in its cash budget for the second month is $55,500

Explanation:

Second Month Cash Collections will include the following Cash flows:

(1) 60% of the 2nd month`s sales

(2) 35 % of the 1st month`s sales

<u>Therefore cash collections from credit sales :</u>

(1) 60% of the 2nd month`s sales ( $68,000×60%) = $40,800

(2) 35 % of the 1st month`s sales ( $42,000× 35 %) = $14,700

Total cash collections = $55,500

8 0

3 years ago

Read 2 more answers

Factors affecting pricing decision

xxMikexx [17]

- the main consumers

- the supply available

- society

- the value of money

- inflation

please vote my answer branliest! Thanks .

8 0

3 years ago

During fiscal 2016, mattel had sales of $5,456,650, total expenses of $5,138,628 and gross profit of $2,554,391. What was mattel

liberstina [14]

Calculation of Cost of Sales for Mattel for the year 2016:

It is given that Mattel had sales of $5,456,650, and gross profit of $5,456,650for the year 2016. The cost of sales can be calculated with the help of following formula:

Cost of Sales = Sales – Gross Profit

Cost of Sales = 5,456,650-5,456,650

Cost of Sales = 2,902,259

Hence the Cost of Sales is 2,902,259 ($ in thousands).

4 0

3 years ago

Help asap please:)))!!!

morpeh [17]

Answer:

number 4

Explanation:

i used a calculator

3 0

3 years ago