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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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Answer:

b. the increase in the interest rate creates an income effect that is greater than the substitution effect.

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Interest rate can be regarded as amount that is been charged by lender for using an assets, this asset could be cash, goods, and this is usually display as a percentage of the lent principal.

The income effect gives shows how increased purchasing power can impact consumption, substitution effect on other hands, shows how changing relative income as well prices impact consumption. Both economics concepts give expression of changes that occur in the market as well as how this changes impact consumption patterns as regards consumer goods and services.

It should be noted that the increase in the interest rate creates an income effect that is greater than the substitution effect.

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You are writing a report about new regulations that affect your company. Your primary audience of company executives is very bus
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D. Break your report into modules and put highly detailed information in an appendix.

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When the economy suffers a downturn and the incomes of many people decrease, vacationers are more likely to take car trips than
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Answer: Air travel is a normal good and vacation travel by car is an inferior good

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3 0
3 years ago
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A fast-food restaurant has determined that the chance a customer will order a soft drink is 0.90. The proba- bility that a custo
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Answer:

(a) The probability that the order will include a soft drink and no fries is 0.45.

(b) The probability that the order will include a hamburger and fries is 0.48.

Explanation:

Let the events be denoted as follows:

S = an order of soft drink

H = an order of hamburger

F = an order of french fries.

Given:

P (S) = 0.90

P (H) = 0.60

P (F) = 0.50

(a)

It is provided that the event of ordering a soft drink and fries are independent.

If events A and B are independent then the probability of event (A ∩ B) is:

P(A\cap B)=P(A)\times P(B)

Compute the probability that the order will include a soft drink and no fries as follows:

P(S\cap \bar F)=P(S)\times P(\bar F)\\=P(S)\times[1-P(F)]\\=0.90\times (1-0.50)\\=0.45

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It is provided that the conditional probability that a customer will order fries given that he/she has already ordered a hamburger as, P (F|H) = 0.80.

The conditional probability of an event B given another event A has already occurred is:

P(B|A)=\frac{P(A\cap B}{P(A)}

Compute the probability that the order will include a hamburger and fries as follows:

P(F|H)=\frac{P(H\cap F)}{P(H)}\\P(H\cap F)=P(F|H)\times P(H)\\=0.80\times 0.60\\=0.48

Thus, the probability that the order will include a hamburger and fries is 0.48.

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