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mash [69]
3 years ago
14

At January 1, 2020, Culver Inc. had accounts receivable of $69,000. At December 31, 2020, accounts receivable is $54,000. Sales

revenue for 2020 total $422,000. Compute Culver’s 2020 cash receipts from customers. Cash receipts from customers
Business
1 answer:
zubka84 [21]3 years ago
6 0

Answer:

$437,000

Explanation:

The account receivables balance represents the amount yet to be collected from customers after revenue has been earned. The balance in this account increases when revenue is earned and reduces when cash is collected.

Given that At January 1, 2020, Culver Inc. had accounts receivable of $69,000. At December 31, 2020, accounts receivable is $54,000. Sales revenue for 2020 total $422,000

Let the cash collected be u

$69,000 + $422,000 - u = $54,000

u = $69,000 + $422,000 - $54,000

u = $437,000

Cash receipts from customers is $437,000

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Forms of Business Organization
chubhunter [2.5K]

Answer:

<h2>Forms of Business Organization </h2>

1. The basic concepts of financial management are the same for all businesses, regardless of how they are organized. However, a firm's legal structure affects its operations.

The main forms of business organizations are: (1) proprietorships, (2) partnerships, (3) corporations, and (4) limited liability companies (LLCs) and limited liability partnerships (LLPs). In terms of numbers, most businesses are______proprietorships_. However, based on the dollar value of sales, most business is done by_corporations____.

Businesses are frequently started as__Limited Liability Companies____and then converted to_Corporations_____when their growth results in disadvantages outweighing advantages.

2. A proprietorship has three important advantages: (1) It is easily and inexpensively formed, (2) it is subject to_less____government regulations, and (3) it is subject to lower income taxes than are_corporations_____.

However, a proprietorship also has three important limitations: (1) A proprietor has_unlimited_____personal liability for the business' debts. (2) The life of the business is limited to the life of the individual who created it. (3) A proprietorship has difficulty obtaining large sums of capital so proprietorships are used primarily for small businesses.

3. A partnership has two important advantages: (1) It is easily and inexpensively formed and (2) its income is allocated on a pro rate basis to partners and taxed on a(n)_individual____basis so the partnership avoids higher_corporate____income taxes. A partnership has four important disadvantages: (1)_Unlimited_____personal liability, (2)_Limited____life, (3) difficulty of transferring ownership, and (4) difficulty of raising large amounts of capital.

4. A corporation has the following advantages: (1)_Unlimited____life, (2) ownership that is easily transferred through the exchange of stock, (3)_Limited____liability, and (4) can_easily_____raise large amounts of capital to operate large businesses. Its disadvantages are: (1) Corporate earnings may be subject to_corporate_____taxation and (2) setting up a corporation and filing required state and federal reports is complex. Large corporations are known as C corporations. However, as an aid to small businesses Congress created S corporations.

5. Limited liability corporations (LLCs) and limited liability partnerships (LLPs) have limited liability protection like_corporations_____but are taxed like__proprietorships____. Investors in an LLC or LLP have votes in proportion to their ownership interest. LLCs and LLPs have been gaining in popularity, but large companies still find it advantageous to be_formed into_____corporations because of advantages in raising capital for growth.

Explanation:

The above are forms of business organization through which investors can realize their investment dreams.

6 0
3 years ago
A market might have an upward-sloping long-run supply curve if A. firms have different costs. B. consumers exercise market power
____ [38]

Answer:

Option A is correct

Firms have different costs.

Explanation:

Option A is correct

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4 0
4 years ago
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antiseptic1488 [7]

Answer:

barriers to entry

Explanation:

3 0
2 years ago
________ get things done through other people. they make​ decisions, allocate​ resources, and direct the activities of others to
Galina-37 [17]
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Managers oversee the work being done by an organization and communicate what needs to be done down through the appropriate channels. Managers have a very important role in how an organization operates because they keep everyone on track with what needs to be done. 
7 0
3 years ago
Statistical software is considered a complement in the demand for economists. this means that if the demand for economists incre
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