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rosijanka [135]
3 years ago
15

Partial balance sheets and additional information are listed below for Funk Company. Funk Company Partial Balance Sheets as of D

ecember 31 2021 2020 Assets Cash $ 39,000 $ 19,500 Accounts receivable 93,500 89,600 Inventory 24,500 39,000 Liabilities Accounts payable $ 57,500 $ 71,000 Additional information for 2021: Net income was $169,000. Depreciation expense was $29,000. Sales totaled $790,000. Cost of goods sold totaled $324,000. Required: Prepare the summary entry for the amount of cash received from customers during 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) g
Business
1 answer:
mart [117]3 years ago
5 0

Answer:

$786,100

Explanation:

Funk Company

Accounts receivable $93,500 -$ 89,600

=$3,900

Sales totaled $790,000 - $3,900

=$786,100

Hence;

Cash (received from customers)$786,100

Add Accounts receivable $3,900

Sales revenue $790,000

Therefore the amount of cash received from customers during 2021 will be $786,100

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Two different manufacturing processes are being considered for making a new product. The first process is less capital-intensive
baherus [9]

Answer:

700 units

Explanation:

FC1 : Fixed Costs from process 1

VC1 : Variable cost per unit from process 1

FC2 : Fixed Costs from process 2

VC2 : Variable cost per unit from process 2

FC1 = $50,000

VC1 = $700 per unit

FC2 = $400,000

VC2 = $200 per unit

To calculate the break-even (quantity) point we must equate the TC1 (Total cost of process 1) to TC2 (Total cost of process 2)

TC1 = TC2

FC1 + VC1(y) = FC2 + VC2(y)      where y is the break-even units

50,000 + 700y = 400,000 + 200y

500y = 350,000

y = 350,000 / 500

y = 700 Units

7 0
4 years ago
Read 2 more answers
Nancy's lease deed clearly states that she will have to pay $1,250 as rent per month and $2,000 as a one-time payment to secure
emmasim [6.3K]

Answer:

Security Deposit

Explanation:

Security deposit is the correct answer because this is the amount that has been considered by the owner when there is any damage occurs. This amount is paid initially which is more than the monthly payment and refundable when the agreement finishes. In the given question it can be clearly seen that the security money is more than monthly payment of $2000.

6 0
3 years ago
14 Select the correct answer. Which marketing strategy is the most effective in the modern era? O A relationship marketing B. ma
Vlad [161]

Answer:

the modern era? A. relationship marketing B. marketing mix C. relationship … ... mix. D. considering the short-term interests of society. E. customer service. 2.

7 0
3 years ago
The Armstrong Corporation developed a flexible budget for its production process. Armstrong budgeted to use 10 comma 000 pounds
KIM [24]

Answer:

$192,000 unfavorable

Explanation:

The computation of the material price variance is shown below:

= Actual Quantity × (Standard Price - Actual Price)

= 24,000 pounds × ($15 per pound - $23 per pound)

= 24,000 pounds × $8 per pound

= $192,000 unfavorable

Simply we take the difference between the standard price and the actual price and then multiplied it by the actual quantity so that the accurate price variance could come

4 0
3 years ago
The range of an area where users can access the Internet via high-frequency radio signals transmitting an Internet signal from a
defon

A) hotspot

Bluetooth is for short distance and pan is Personal area networks (PANs) connect an individual's personal devices

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3 years ago
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