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densk [106]
3 years ago
13

IRobot designs andmanufactures robots for consumer, commercial, and military use. For the fiscal year ended January 2, 2016, the

company reported the following on its balance sheet and income statement(amounts in thousands):
Accounts receivable, net of allowance of $33 at January 2, 2016, and $67 at December 27,2014, of $104,679 and $71,056, respectively.
Revenue for fiscal 2015 (i.e., the year ended January 2, 2016) of $616,778.
Bad debt expense for fiscal 2015 of $0.

Required:
Compute the amount of cash collected from customers during fiscal 2015.
Business
1 answer:
Helen [10]3 years ago
8 0

Answer:

iRobot

The amount of cash collected from customers during fiscal 2015 = $583,155.

Explanation:

a) Data and Calculations:

Allowance at January 2, 2016 = $33

Allowance at December 27, 2014 = $67

Accounts Receivable at January 2, 2016 = $104,679

Accounts Receivable at December 27, 2014 = $71,056

Revenue for 2015, year ended Jan 2, 2016 = $616,778

Bad debt expense for 2015 = $0

Computation of the Cash collected from customers during fiscal 2015:

Accounts Receivable

Dec. 27, 2014  Balance                 $71,056

2015                 Revenue               616,778

Jan. 2, 2016     Balance                (104,679)

2015                 Cash                   $583,155

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The first steps you should consider when constructing an online business strategy are: create goals and identify a USP.

<h3>What is a business strategy?</h3>

A business strategy can be defined as a set of guiding principles, actions, policies, and decisions that a business organization strategically combines, so as to successfully achieve its goals, objectives, attract potential customers and possess a competitive advantage over its rivals in the industry.

<h3>The types of business strategy.</h3>

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Read more on business strategy here: brainly.com/question/17130109

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Complete Question:

Which are the first steps you should consider when constructing an online business strategy?

Create goals and identify a USP

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5 0
2 years ago
During the month of June, Telecom Inc. had cost of goods manufactured of $112,000, direct materials cost of $52,000, direct labo
olchik [2.2K]

Answer:

Beginning work in process= $7000

Explanation:

Giving the following information:

Cost of goods manufactured by $112,000.

Direct materials cost of $52,000

Direct labor cost of $37,000.

Overhead cost of $26,000.

The work in process balance at June 30 equaled $10,000

Work in process on June 1?

Cost of goods sold= Beginning work in process + direct material + direct labor + manufacturing overhead - ending work in process

112000= ? + 52000 + 37000 + 26000 - 10000

Beginning work in process= 112000 - 52000 - 37000 - 26000 + 10000= $7000

7 0
3 years ago
Three people were fired at abc corporation. eugene was fired because he was incompetent. rita was fired because she was unethica
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3 years ago
The temperature in Gavin’s oven is a sinusoidal function of time. Gavin sets his oven so that it has a maximum tem- perature of
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3 years ago
If gross pay increases by $500, total employee benefits increase by $200 and total job expenses decrease by $300, then total emp
denis23 [38]

Answer:

option (d) increases by $1,000

Explanation:

Data provided in the question:

Increase in gross pay = $500

Increase in total employee benefits = $200

Decrease in total job expenses = $300

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The change total employment compensation

= Increase in gross pay + Increase in total employee benefits + Decrease in total job expenses

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Hence,

The answer is option (d) increases by $1,000

5 0
3 years ago
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