Name the device that are to measure volume of a liquid
Sufficient products to meet consumer wants
<span />
Answer:
The answer is $5,016,700
Explanation:
Cash collected from customers is:
Revenue $5,050,000
Less: Increase in accounts receivable
Revenue is
Receivables at the beginning of the year is $321,000
Receivables at the end of the year is $354,300
There is an increase in the accounts receivable and the increase is
$354,300 - $321,000
$33,300
Therefore, amount collected from customers is:
$5,050,000 - $33,300
=$5,016,700
Answer:
The correct answer is number (1): summarizes the firms revenues and expenses over an accounting period.
Explanation:
The Income Statement is a report that examines the financial performance of a business over a given period. In compliance with Generally Accepted Accounting Principles (GAAP), publicly traded companies will report income statements, balance sheets and cash flow for each quarter and year.
<em>A company's Income Statement shows revenues, expenses and net profits for both operating and non-operating activities</em>.