Answer:
gorillas is very cracazuri am rllmmm
Answer:
The amount collected from customers on accounts receivable during year 3 is $535,000.
Explanation:
Cash received from accounts receivable = Opening balance of AR + Credit Sales - Bad debts written off - Closing balance of AR.
- The opening balance for year 3 account receivables was 150000.
- Credit Sales = 600000
- Bad debts = 40000
- Closing Balance = 175000
We can solve this question either by making a T account for accounts receivable or using the equation given above.
Cash = 150000 + 600000 - 40000 - 175000 = $535000
Answer: barter
Explanation:
Barter is an exchange system whereby money isn't used as the medium of exchange but rather, there's a direct exchange of goods or services.
From the question, we are given the information that Italy agrees to buy 5,000 cars from Comfort Cars Inc. in exchange for 5,000 barrels of oil. This shows that a barter system took place.
Answer:
$100,000
Explanation:
Depreciable cost refers to the portion of an asset's costs that will be spread throughout the use-life of the asset. It is the amount to depreciated over the gainful life of the asset.
Depreciable cost is calculated by subtracting salvage value from the original cost of the asset. Salvage value is also the scrap value.
Depreciable cost = asset cost - salvage value
Depreciable cost= $120,000 - $20,000
Depreciable cost =$100,000
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