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omeli [17]
3 years ago
8

XYZ Company ended year 1 with accounts receivable of $100,000. On February 1, Year 2 XYZ provided services on account for $40,00

0. On May 1, Year 2 XYZ provided services for $20,000 cash. On November 1, Year 2 XYZ provided services on account for $70,000. What is the ending balance in accounts receivable as of December 31, Year 2?
Business
1 answer:
avanturin [10]3 years ago
8 0

Answer:

Account at December 31th, Year 2: 210,000

Explanation:

We work this using the following reasoning

beginning accounts receivable

<u>+ sales on accounts </u>

Total amount to collect

<u>- collection through the period</u>

ending accounts receivable

year 2

beginning accounts receivable 100,000

+ February 1st sale on account   40,000

+ November 1st sale on account <u>70,000</u>

total amount to collect               210,000

As we are not given with any data for collection we assume is zero.

Therefore ending AR balance:

210,000 - 0 = 210,000

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Bermuda Cruises issues only common stock and coupon bonds. The firm has a debt–equity ratio of .75. The cost of equity is 11.6 p
raketka [301]

Answer:

the capital structure weight of the firm's equity will be 57.14 %.

Explanation:

Weighted Average Cost of Capital is the return that is required by the providers of long term sources of finance.

A debt–equity ratio of 0.75 means:

Debt : Equity = 0.75 : 1

The Total Ratio will be = 0.75 + 1.00

                                     = 1.75

Therefore, the  capital structure weight of the firm's equity will be :

Equity Weight = Equity Ratio ÷ Total Ratio

                       = 1.00 ÷ 1.75

                       = 0.5714 or 57.14 %

7 0
3 years ago
Goodwill adapts its store formats and merchandise plans to match the innovativeness and disposable income of shoppers in nearby
d1i1m1o1n [39]
<span>customers of its boutique store in the​ haight-ashbury neighborhood of san francisco are more likely to demonstrate greater rates of adoption for trendy fashions</span>
8 0
3 years ago
delmont movers has a profit margin of 6.2 percent and net income of $48900. what is the common size percentage for the cost of g
ValentinkaMS [17]

Answer:

The common size percentage for the cost of goods sold is 48.05%

Explanation:

The profit margin reflects a company's overall ability to turn income into profit, is calculated by formula:

Profit margin = Net income/Net sales

Delmont movers has a profit margin of 6.2 percent and net income of $48,900

Net sales of the company = Net income/Profit margin = $48,900/6.2% = $788,709.68

The cost of goods sold amounted to $379,000.

The common size percentage for the cost of goods sold = (The cost of goods sold/Net sales) x 100% = ($379,000/$788,709.68) x 100% = 48.05%

4 0
2 years ago
Fifteen years ago, Mr. Fairhold paid $50,000 for a single-premium annuity contract. This year, he began receiving a $1,300 month
marusya05 [52]

Answer: $1091.61

Explanation:

From the question, we are told that fifteen years ago, Mr. Fairhold paid $50,000 for a single-premium annuity contract and that this year, he began receiving a $1,300 monthly payment that will continue for his life and based on his age, he can expect to receive $312,000. The amount of each monthly payment is taxable income to Mr. Fairhold goes thus:

Based on the question, Mr Fairhold will have a tax free return of the $50,000 paid. The exclusion ratio will be the investment divided by the expected return. This will be:

= $50,000/$312,000

= 0.1603

Since he received monthly payment of $1,300 and exclusion ratio is 0.1603, the tax free return on investment will be:

= $1,300 × 0.1603

= $208.39

Taxable annuity payment will now be:

= $1300 - $208.39

= $1091.61

6 0
3 years ago
Meginnis Corporation's relevant range of activity is 3,000 units to 7,000 units. When it produces and sells 5,000 units, its ave
Zanzabum

Answer:

$53,700

Explanation:

Direct manufacturing cost = (Direct material per unit + Direct labor per unit) * Units produced

=($5.20 + $3.75) * 6,000 units

=$8.95 * 6,000

=$53,700

The total amount of direct manufacturing cost incurred is closest to $53,700

6 0
3 years ago
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