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liberstina [14]
3 years ago
14

Andy Company had a cash balance on May 1 of $ 30,000. At the end of​ May, the cash balance has increased to $ 33,000. During the

month of​ May, Andy received cash of $ 47,000 from various sources. Based on this​ information, cash payments for the month of May​ were:________.A. $44,000.
B. $75,000.
C. $27,000.
D. $31,000.
Business
1 answer:
PIT_PIT [208]3 years ago
4 0

Answer:

The correct answer is A

Explanation:

The Cash payments for the month of may is computed as:

Cash payment = Cash balance on May 1 + Cash received  during the month - Cash balance increased

where

Cash balance on May 1 is $30,000

Cash received  during the month is $47,000

Cash balance increased  is $33,000

Putting the values above:

Cash payments = $30,000 + $47,000 - $33,000

= $77,000 - $33,000

= $44,000

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kondor19780726 [428]

You  should measure the inputs to a restaurant process in customers and the outputs in dollars is a false statement.

<h3>What is the flow of a restaurant?</h3>

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Note that Flow is seen as a form of volumetric flow rate and it is one that is  simply known to be the volume of fluid that moves per unit of time.

Therefore, saying that you should measure the inputs to a restaurant process in customers and the outputs in dollars is a false statement.

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3 0
1 year ago
Describe the final step in the adjusting process. The final step is to determine the correct balance of an account. The final st
Ket [755]

Answer:

The Final Step is 'post to a trial balance so financial statements can be prepared'

Explanation:

The accounting cycle has, in most theory analysis, 8 steps that will serve to record and process all financial transactions of a company, beginning at the transactions itself and ending at resetting the balance so a new cycle can begin. The steps are:

1) The occurrence of Financial Transactions

2) The record of those transactions in the company journal

3) The summary of all journal’s transactions in the general ledger

4) The calculation of a total balance for all accounts

5) The corrections of error in balances by the bookkeeper

6) The posting of adjustments in all accounts

7) The manufacture of financial statements using the correct balances

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8 0
2 years ago
Q-mart failed to include inventory that was kept in a separate warehouse in its 12/31 end-of-the-period inventory count. Consequ
Sindrei [870]

Answer:

Total assets and Total equity will be this year's understated.

3 0
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The following selected transactions were completed by Capers Company during October of the current year:
Zarrin [17]

Answer:

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1-Oct   Merchandise inventory                    15458

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3-Oct  Merchandise Inventory                     9850

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                   Cash account                                              200

4-Oct   Merchandise Inventory                     13550

                   Accounts payable- Schnee Co.                       13550

6-Oct    Accounts payable -Schnee Co        4350

                    Merchandise inventory                                4350

13-Oct    Accounts payable-Saxon Co          9650  

                      Cash account                                              9457

                       Merchandise inventory                               193

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14-Oct    Accounts payable-Schnee Co        9200  

                      Cash account                                               9016

                       Merchandise inventory                                 184

                       (9200*2%)

19-Oct    Merchandise inventory                    27270

                        Accounts payable - Southmont Co           27270

19-Oct    Merchandise inventory                       375

                        Cash account                                              375

20-Oct    Merchandise inventory                     21400  

                        Accounts payable -Stevens                      21400

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31-Oct    Accounts payable-Sabol imports      15458  

                      Cash account                                                 15458

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7 0
3 years ago
For a typical firm, which of the following sequences is CORRECT? All rates are after taxes, and assume that the firm operates at
Temka [501]

Answer:

B) rs > WACC > rd.

Explanation:

The formula to compute WACC is shown below:

= Weightage of debt × cost of debt × ( 1- tax rate) + (Weightage of preferred stock) × (cost of preferred stock) + (Weightage of  common stock) × (cost of common stock)

As we know that the risk of equity in comparison to debt is more. And the return in respect of equity is received as an interest whereas for the debt it is received as a dividend.  

And, The WACC has come between debt and equity

6 0
3 years ago
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