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Vitek1552 [10]
3 years ago
11

On April 30, Gomez Services had an Accounts Receivable balance of $31,200. During the month of May, total credits to Accounts Re

ceivable were $66,400 from customer payments. The May 31 Accounts Receivable balance was $25,000. What was the amount of credit sales during May?
Business
1 answer:
Kazeer [188]3 years ago
5 0

Answer:

What was the amount of credit sales during May? $ 60200

Explanation:

                                  April Deb         Cre           May

Account receivable 31200          66400 25000

                                31200 60200 66400 25000

Credit 66400 +

may-31 25000 +

apri-30 -31200 -

       = 60200  

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During the purchase phase for a new car, Larry creates a _____ that includes Chrysler 300 and Toyota Avalon, but does not includ
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Answer:

Consideration chart.

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8 0
3 years ago
When there is a full forward cover with the spot rate equal to the forward rate all of the following are true​ EXCEPT: A. The cu
Blababa [14]

Answer:

B. The hedge is asymmetric.

Explanation:

Hedging refers to a technique or a mechanism whereby firms and individuals aim for risk reduction, arising out of uncertain and volatile business situations, which may result into a heavy loss.

For example, an exporter entering into a forward contract to eliminate or reduce the risk of arising out of a future situation wherein, future receipts denominated in a foreign currency, receivable at a future date, may be less than same receipts receivable at current spot exchange rate as on today.

Currency hedge ratio depicts the proportion of total exposure which is covered by hedge w.r.t the total exposure itself.

Asymmetrical hedge refers to covering an exposure by an opposite position wherein the chances of earning profits are higher than the losses current position can lead to. Such an hedge would be similar to covering a call option with a put option. Asymmetrical refers to being of dissimilar or non equal size. Here, it refers to the dissimilarity between prospective profits and losses.

Under a perfect hedge, the loss position in a scenario is completely covered i.e 100% by a prospective gain in other situation, with there being negative correlation between the two scenarios such as if scenario 1 yields a profit, scenario 2 would yield a loss and vice versa.

8 0
4 years ago
Lake Incorporated purchased all of the outstanding stock of Huron Company paying $967,000 cash. Lake assumed all of the liabilit
stich3 [128]

Answer:

Goodwill is $262,800

Explanation:

Goodwill is the excess of purchase consideration over fair value of net assets

Fair value of net assets is the fair value of total assets minus fair value of total liabilities

Fair value of total assets=$124,200+$757,000=$881,200

fair value of total liabilities=$177,000

fair value of net assets=$881,200 -$177,000=$704,200

Goodwill=purchase consideration-net assets

purchase consideration is $967,000

fair value of net assets  $704,200

goodwill=$967,000-$704,200

goodwill=$262,800

The correct option is the third option in the multiple choices

3 0
3 years ago
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Answer:

Not using service if part of law is violated.

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Acceptable use policy is the document which lists the terms and conditions which needs to be agreed to access the corporate network. The AUP included set of rules which must be agreed in order to access the network by user. The documents can includes rules regarding the administrative controls, operational controls and technical controls.

8 0
3 years ago
The Vice President of Biomedics is trying to decide on the composition of a new product development team. If she chooses members
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Answer:

b. Increase in communication and coordination costs

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8 0
3 years ago
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