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Alla [95]
3 years ago
11

32. On December 31, 2016, Wellstone Company reported net income of $70,000 and sales of $210,000. The company also reported begi

nning and ending accounts receivable at $20,000 and $25,000, respectively. Wellstone will report cash collected from customers in its 2016 statement of cash flows (direct method) in the amount of: a.$215,000.
Business
1 answer:
Rom4ik [11]3 years ago
7 0

Answer:

$205,000

Explanation:

Sales = $210,000

Opening accounts receivables = $20,000

Ending accounts receivables = $25,000

Using the formula

Opening accounts receivables + Sales -  Cash collected = closing accounts receivables

$20,000 + $210,000 - Cash collected = $25,000

Cash collected = $20,000 + $210,000 -  $25,000

                         = $205,000

The cash collected from sales reduces the balance in the accounts receivables.

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Franklin Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of b
OlgaM077 [116]

Answer:

$14,837

Explanation:

Calculation for what The adjusted cash balance should be

Bank balance$14,237

Add Deposit in transit$4,500

Less Outstanding checks ($3,900)

Adjusted bank balance$14,837

($14,237+$4,500-$3,900)

Book balance$13,162

Less Bank service fees ($50)

Add Note collected $1,725

Adjusted book balance$14,837

($13,162-$50+$1,725)

Therefore The adjusted cash balance should be:

$14,837

8 0
3 years ago
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Bond [772]
I believe that the answer to the question provided above is that by agreeing on single issue of inflation is due to the need to have one . For the sense of having singularity for the group.
Hope my answer would be a great help for you.    If you have more questions feel free to ask here at Brainly.
5 0
2 years ago
If a school keeps two lists, one for student registration and one for student financial information, both containing name and ad
PIT_PIT [208]

Answer: Redundancy

Explanation:

  The data redundancy is one of the type of condition in the database where we can easily store our data or information in more than two different places in the computer system memory. It is basically helps in correcting and also detecting the different types of errors in the stored data.

According to the given question, the school is basically keeping the two different list but the address and the name of the student information are similar and this is refers as data redundancy.  

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Answer:

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LUCKY_DIMON [66]
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