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lara [203]
3 years ago
7

The following information pertains to Eagle Co.'s Year 5 sales: Cash Sales Gross $ 80,000 Returns and allowances 4,000 Credit sa

les Gross 120,000 Discounts 6,000 On January 1, Year 5, customers owed Eagle $40,000. On December 31, Year 5, customers owed Eagle $30,000. Eagle uses the direct write-off method for bad debts. No bad debts were recorded in Year 5. Under the cash basis of accounting, what amount of net revenue should Eagle report for Year 5?
Business
1 answer:
Debora [2.8K]3 years ago
3 0

Answer:

The amount of net revenue  Eagle should report for Year 5 is $ 80,000.

Explanation:

Under Cash basis of accounting revenue and expenses are recorded when payment against them is made or received. Expenses and revenues incurred are not relevant.

The amount of net revenue will comprises of revenue received in cash during the reporting period. Detail Calculations are given below.

Cash Sales                      $ 80,000

Returns and allowances ($  4,000)

Discounts                         ($  6,000)

Opening Receivable        $ 40,000

Closing Receivable          ($ 30,000)

Net revenue                     $ 80,000                

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const2013 [10]

Answer:

b. speed money

Explanation:

Speed money -

It refers to the amount of money provided in order to increases the time period of any process or task , is referred to as speed money .

It is also known as grease payments .

It is different from the bribe , as bribe is given in order to approve the activity or task .

But speed money is used to hasten the time period .

Hence , from the given question ,

The correct answer is speed money .

3 0
2 years ago
________ is a field of study that investigates the impact that individuals, groups, and structure have on behavior within organi
Mice21 [21]

Answer:

The answer is a. Organizational behavior

Explanation:

Organizational behavior simply put, is the academic study of how a group of people act within an organization. The results are then utilized to make the organization operate more effectively.

Organizational behavior studies can cover areas such as job performance, job satisfaction, innovations, and leadership within an organization. The goal is simply to see how these areas can be improved, which will then lead to organizational growth.

Organizational behavior is therefore proactive in nature and serves to improve the situations for a person, group of persons, or organization.  

7 0
3 years ago
"Reginald owns a grocery and his clerks are on strike. Reginald is trying to operate the store with the help of his manager, but
nirvana33 [79]

Answer:

The right thing for Reginald to do Is to merge law and equity to resolve the situation.

Explanation:

It means Reginald should call the ten striking clerks to the table and hear out their grievances and do something about their grievances if the fault is from him(Reginald) so that they can get back to work, but if they fail to come to a compromise, the law can be apply.

3 0
3 years ago
I will pay 5$ to the who solve it
elena55 [62]

Answer:

a. The price that the company should sell the new toy at if it prices at cost plus profit at 100% profit markup is:

= $20.

b. The price that the company should sell the new toy at if it prices using competitive pricing is:

= $22.50 (average of competitors' prices)

c. The price that the company should sell the new toy at if it prices using penetration pricing is:

= $20 (lowest market price)

d. The price that the company should sell the new toy at if it prices using price skimming is:

= $25.

Explanation:

a) Data and Calculations:

Cost of producing a new toy = $10

Competitors' prices are:

Product A – $25

Product B – $20

Product C – $23

Product D–  $22

Total =          $90

Average price = $22.50 ($90/4)

Cost =   $10

Markup   10 ($10 * 100%)

Price = $20

b) An important consideration in the pricing of products is customers' and competitors' reactions to the firm's selling price.  The purpose of considering customers is to ensure that enough demand is generated to cover production cost and make profits.  Competitors can wage price wars to discourage new entrants into their markets.  Many pricing methods are in use, depending on the prevailing market realities.

4 0
3 years ago
Real Angus Steakhouse purchased land for $75,000 cash. They also incurred commissions of $4,500, property taxes of $5,000, and t
Stella [2.4K]

Answer:

c. $84,300.

Explanation:

The computation of the total cost of the land is shown below:

= Purchase cost of land + commission incurred + property taxes + title insurance

= $75,000 + $4,500 + $4,000 + $800

= $84,300

We simply added that costs which are related to the land i.e purchase cost, commission , property taxes ,and title insurance. The $1,000 cost should not be considered.

4 0
3 years ago
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