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fomenos
3 years ago
12

Carter Corporation made sales of $ 825 million during 2018. Of this​ amount, Carter collected cash for $ 710 million. The​ compa

ny's cost of goods sold was $ 290 ​million, and all other expenses for the year totaled $ 425 million. Also during 2018​, Carter paid $ 350 million for its inventory and $ 290 million for everything else. Beginning cash was $ 105 million.a. How much was Carter's net income for 2018?
b. How much was Carter's cash balance at the end of 2018?
Business
1 answer:
salantis [7]3 years ago
4 0

Answer:

Part (a) The net income of carter is $115 million.

Part (b) The closing cash balance at the end of year is $360.

Explanation:

Part (a) Net Income Computation:

Sales                                     $825

Cost of goods sold             <u>(</u><u>$290</u><u>)</u>

Gross Profit                          $535

Other Expenses                  <u>(</u><u>$425</u><u>)</u>

Net income                          $115 Million

Part (b) The cash balance of  Carter is not dependent on non cash flows. So the cash transactions would be considered here for cash balance computation.

Opening Cash position               $290

Collection from Sales                  $710

Inventory Invoices paid              ($350)

For  Everything                           <u>($290)</u>

Closing Cash balance                 $360

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a. an ownership interest in the corporation.

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Assume you are running a paid campaign and your original budget was $50,000 for the month. It's a 31-day month and you have spen
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3 years ago
Which of the following is true of normal shortages? They do not include theft and shrinkage. These goods are no longer available
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Answer:

<h2>The correct answer here would be the 1st option given in the answer choices or options or They do not include theft and shrinkage.</h2>

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The reasons backing my answer are that in the first place planning for the future is not very common, even though when we have savings accounts or retirement funds accounts. However, that is only a part of the whole process. Because we might not have seen the full picture to know exactly what are our requires steps to accomplish our goals. For example, if we want a strawberry farm that could provide money for our family, and their children we need to have the land, the knowledge, and the plans to develop our goal. Because if we only save and leave the planning for later. We might overwait, and when never take the first step. What would be the case if a strawberry farm would cost only fifty thousand dollars, and we keep working until we have five hundred thousand. We might have more money but we would have no plan, and we might have time past so far that we might help the children with the farm.

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