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puteri [66]
3 years ago
9

Thomas Book Sales, Inc., supplies textbooks to college and university bookstores. The books are shipped with a proviso that they

must be paid for within 30 days but can be returned for a full refund credit within 90 days. In 2009, Thomas shipped and billed book titles totaling $760,000. Collections, net of return credits, during the year totaled $690,000. The company spent $300,000 acquiring the books that it shipped. a. Using accrual accounting and the preceding values, show the firm
Business
1 answer:
nydimaria [60]3 years ago
6 0

Answer:

Explanation:

In this question, we have to find out the net profit and the net cash flow which is shown below:

Net profit = Sales - cost of goods sold

= $760,000 - $300,000

= $460,000

And, the net cash flow would be

= Cash collections - Cost of goods sold

= $6,90,000 - 3,00,000

= $3,90,000

Hence, the cash flow statement is more beneficial for the company as the income statement does not state about the collection amount which results in the absence of the shareholder contribution wealth.

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Why can deadweight loss occur when a price is below the equilibrium even when some consumers benefit from it?
soldi70 [24.7K]

When a shortage occurs, some consumers are fortunate enough to benefit from a lower price if they purchase the good or service before the price increase occurs.

7 0
3 years ago
Alais is a clothing fashion designer known for her French style of elaborate heirloom smocking combined with industrial elements
ElenaW [278]

Answer:

The answer is: Alais will prevail because of material breach of the contract

Explanation:

Material breach in contract law refers to one party failing to perform under the contract significantly enough so that the aggrieved party has the right to sue for breach of contract.

In this case when Rutherford failed to perform, Alais sustained enough "damage" that enables her to sue Rutherford. She probably was no longer able to finish her job in time.

3 0
2 years ago
Selling. general, and administrative expenses were $80,000, net sales were $390,000, interest expense was $16.000: research and
elixir [45]

Answer:

<u>The correct answer is C. US$ 30,000</u>

Explanation:

1. What was the operating income for the period?

Operating income = Net sales - Cost of goods - Operational expenses

Operational expenses on this question are:

  1. Selling. general, and administrative expenses
  2. Interest expenses
  3. Research and development expenses
  4. Income tax expense

According to the information provided, we have then:

Operating income = 390,000 - 220,000 - 80,000 - 16,000 - 34,000 - 10,000

Operating income = 390,000 - 360,000

Operating income = 30,000

<u>The correct answer is C. US$ 30,000</u>

<u></u>

8 0
3 years ago
Which of the following is a potential danger of offering common stock to investors?
murzikaleks [220]

Answer :It doesn't allow the entrepreneur to raise enough money. -A.

6 0
3 years ago
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Which of the following is true of a person with a high credit score?
dsp73
Your credit score is used as indicator of your creditworthiness. This means how likely you are to pay off debts and other financial obligations. A person with a high credit score should have a high credit worthiness, or likelihood to be responsible with credit.

A person who pays bills on time has demonstrated that she takes her financial obligations seriously, and this trait positively affects her credit score. The answer is A. 

B and C would most likely be associated with a person with a low credit score, since they demonstrate lower creditworthiness. 
5 0
2 years ago
Read 2 more answers
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