1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
agasfer [191]
3 years ago
10

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

tomers, $295,000; Cash paid for rent, $31,000; Cash paid to employees for services rendered during the year, $111,000; Cash paid for utilities, $41,000. In addition, you determine that customers owed the company $51,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,100 at year-end, and the rent payment was for a two-year period. Calculate accrual net income for the year.
Business
1 answer:
Fiesta28 [93]3 years ago
7 0

Answer:

Accrued net income is $161,900

Explanation:

The formula to compute accrued net income is shown below:

= Revenue - expenses

where,

Revenue = Cash collected from customers +  customers owed the company

              = $295,000 + $51,000

              = $346,000

And, the expenses equals to

= Cash paid for rent + Cash paid to employees for services rendered during the year +  Cash paid for utilities + gas and electric expenses at the end of a year

= $31,000 + $111,000 + $41,000 + $1,100

= $184,100

Now put these values to the above formula

So, the answer would be equal to

= $346,000 - $184,100

= $161,900

You might be interested in
Driving skills are a basic qualification of
Semmy [17]

Answer: The answer is B mail carriers

Explanation:

5 0
3 years ago
Read 2 more answers
Describe at least 3 nonprice competition strategies a company could use to convince customers that its product is better than ot
makkiz [27]
<span>3 non-price strategies you could use to increase your customer base is having Better Quality, Better web presence, and Better Customer Service. Better quality means having good, durable products that deliver what they promise. Also better quality means having a product that is worth its money, not just something cheap which falls apart in one use. Better Web Presence means having a nice, interesting, user-friendly website which customers can access at any time to view your products. Also this means that your website is updated regularly with product information. Better customer service means that you should be able to provide good, cooperative customer support for customers who have queries or problems regarding your product. This involves courteous staff who have up-to-date knowledge and are willing to follow up the case. </span>
3 0
3 years ago
Read 2 more answers
Asper Corporation has provided the following data for February. Denominator level of activity 7,700 machine-hours Budgeted fixed
Brrunno [24]

Answer:

Asper Corporation has provided the following data for February. Denominator level of activity 7,700 machine-hours Budgeted fixed manufacturing overhead costs $ 266,420 Fixed component of the predetermined overhead rate $ 34.60 per machine-hour Actual level of activity 7,900 machine-hours Standard machine-hours allowed for the actual output 8,200 machine-hours Actual fixed manufacturing overhead costs $ 259,960 The budget variance for February is $6,460 Favorable.

Explanation:

Budgeted fixed manufacturing overhead cost = $266,420.

Actual fixed manufacturing overhead costs  = $259,960

The budget variance for February is calculated as below:

Budget Variance = Actual Fixed Manufacturing Overheads - Budgeted Fixed Manufacturing Overheads

Budget Variance =$259,960 - $ 266,420.

Budget Variance = -$6,460

Budget Variance = $6,460 Favorable

7 0
3 years ago
Which of the following are examples of natural barriers to entry? Correct Answer(s) Drag appropriate answer(s) here Smaller comp
andreyandreev [35.5K]

Answer:

These are correct:

  • Smaller companies with smaller production processes have higher per unit costs than larger companies. - smaller firms find it harder to adopt economies of scale to reduce costs.
  • Over time, a firm takes control of 85% of the world’s supply of a chemical used in the production of plastic. - the firm has almost total control over a scarce resource, and new competitors have to scramble for the remaning 15%. (note: this is a natural barrier to entry as long as the pharmaceutical company did not collude with the government to reach such a high market share, in said case, it would be an artificial barrier to entry).
  • Lenders are hesitant to provide funding for new firms that will compete with a large, well-established firm. - a small firm may lack market credibility in the financial markets, because investors are hesitant about the future of the company, or do not expect high rates of return.

5 0
3 years ago
Suppose that the price of flour used to produce bagels increases. Hence the equilibrium price of a bagel​ ________ and the equil
Anon25 [30]

Answer:

Increase , increase

Explanation:

A decrease in the supply of a product increases in its price. Reduced supply means many buyers competing for the few available products.  The prices of goods or services are determined by the intersection of the demand and supply curves. There is an indirect relationship between supply and price of quantity supplied when demand is constant. A reduced supply results in high prices while an increase in supply causes low prices.

As prices increase, suppliers will want to supply more to make profits. Constant demand and a high price will thus lead to an increase in equilibrium quantity.

5 0
3 years ago
Other questions:
  • I need help with this
    14·1 answer
  • An antique dealer buying items and hoping to sell them for more than he or she paid for them is the very definition of​ a:
    11·1 answer
  • All else equal, a large increase in deferred revenue in the current period would be expected to produce what effect on revenue i
    14·1 answer
  • "what kinds of misunderstanding are likely to arise between an american company and a saudi enterprise, neither of which has exp
    6·1 answer
  • The following transactions were completed by the company.
    9·1 answer
  • Who is affected negatively when a country’s currency is weak? Give domestic and foreign examples
    15·1 answer
  • If XYZ invested $5,800 today in an account that is expected to earn 3.2 percent per year, and she expects to make another invest
    14·1 answer
  • The value of what type of money comes from what it is made of?
    6·1 answer
  • Contribution Income Statement and Cost-Volume-Profit Graph Kopi Company produces dog cages that are sold for $38 per unit. The c
    6·1 answer
  • Economists study international trade or trade between countries. List which countries you think are the top four trading partner
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!