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alex41 [277]
3 years ago
15

Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected from cus

tomers, $335,000; Cash paid for rent, $39,000; Cash paid to employees for services rendered during the year, $119,000; Cash paid for utilities, $49,000. In addition, you determine that customers owed the company $59,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,900 at year-end, and the rent payment was for a two-year period. Calculate accrual net income for the year.
Business
1 answer:
Svetach [21]3 years ago
3 0

Answer:

The accrual net income for the year is $204,600

Explanation:

The computation of the accrual net income for the year is shown below:

Net income = Revenue - expenditure

where,

Revenue = Cash collected from customers + customers owed at the end of the year

And, the expenditure = Cash paid for rent + Cash paid to employees for services rendered during the year + Cash paid for utilities + gas and electric expenses

Now put these values to the above formula

So, the answer would be equal to

= Cash collected from customers + customers owed at the end of the year - Cash paid for rent - Cash paid to employees for services rendered during the year - Cash paid for utilities - gas and electric expenses

= $335,000 + $59,000 - $19,500 - $119,000 - $49,000 - $1,900

= $204,600

The rent payment is given for two years but we have to compute for the one year only

So, rent payment = $39,000 ÷ 2 = $19,500

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According to a study conducted by an​ organization, the proportion of americans who were afraid to fly in 2006 was 0.10. a rando
faust18 [17]

Answer:

This is not necessarily evidence that the proportion of Americans who are afraid to fly has  decreaseddecreased  because belowbelow  0.10 because the proportion of sample, is nothing very close to 0.10.

Explanation:

n = 1100

p = 0.10

Using the formula np(1-p), we will have

= 1100(0.10)*(1 - 0.10)

= 1100*0.10*0.90

= 99

99 ≥ 10

This satisfies normal distribution condition. That is, proportion of sample are normally distributed.

3 0
3 years ago
Analyst 1 suggested that the demand curve for newspapers in Baltimore might have shifted to the right because people were becomi
krek1111 [17]

Answer:

A shift to the right of the demand curve can be caused by any factor other than price that increases the willingless of consumers to purchase a product of service (in this case newspapers).

Two other events can result in a shift to the right of the demand curve for newspapers:

  • Local elections are held in Baltimore - when local elections are held, people become more interested in following local news in order to decide their vote, therefore, they are willing to purchase more newspapers.
  • A dramatic event occurs in Baltimore - it could be a natural disaster, a massacre, or an economic crisis, if things become too far from normal, people will want to learn about what is happening, and will look out for information in newspapers.

8 0
3 years ago
Planet Corporation acquired 90 percent of Saturn Company’s voting shares of stock in 20X1. During 20X4, Planet purchased 52,000
Zepler [3.9K]

Answer:

Purchase of Inventory by Planet (Parent)

Inventory $1,456,000 (debit)

Cash $1,456,000 (credit)

Sale of Inventory by Planet (Parent) to Subsidiary (Saturn)

Revenue $1,258,000 (debit)

Cost of Sales $1,258,000 (credit)

Sale to third Parties by Saturn

Cash $1,813,000 (debit)

Cost of Sales $1,036,000

Sales Revenue $1,813,000 (credit)

Inventory $1,036,000

Explanation:

Purchase of Inventory by Planet (Parent)

Inventory $1,456,000 (debit)

Cash $1,456,000 (credit)

<em>Inventory : 52,000 × $28 = $1,456,000</em>

Sale of Inventory by Planet (Parent)

<em>Note : This is an Intragroup transaction and need to be eliminated </em>

Revenue $1,258,000 (debit)

Cost of Sales $1,258,000 (credit)

<em>Revenue : 37,000 × $34  = $1,258,000</em>

Sale to third Parties by Saturn

Cash $1,813,000 (debit)

Cost of Sales $1,036,000

Sales Revenue $1,813,000 (credit)

Inventory $1,036,000

<em>Sales Revenue = 37,000 × $49 = $1,813,000</em>

<em>Cost of Sales = 37,000 × $28 = $1,036,000</em>

       

7 0
3 years ago
Which concept is NOT basic to definition of economics?
olga2289 [7]

Answer:

No Consistir en el valor total de la producción corriente de bienes y servicios finales dentro del territorio nacional durante un período de tiempo que, generalmente, es un año .

Explanation:

Si no te sirve me dice

5 0
2 years ago
In order for the economy to be strong, businesses must _____.
Arte-miy333 [17]

<u>Answer:</u>  A) Produce goods and pay labour.

<em>In order for the economy to be strong, businesses must produce goods and pay workers</em>

<u>Explanation:</u>

<em>Organizations charge more for their merchandise to pay higher wages, and the higher wages</em> likewise increment the cost of products in the more extensive market.  

The <em>rate increment of the wages and costs and their general impact available are key variables driving expansion in the economy.</em>

5 0
3 years ago
Read 2 more answers
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