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MariettaO [177]
3 years ago
7

Harbert, Inc. had a beginning balance of $12,000 in its Accounts Receivable account. The ending balance of Accounts Receivable w

as $10,500. During the period, Harbert collects $72,000 of its accounts receivable. Harbert incurred $63,000 of cash expenses during the accounting period.
Required
a. Based on the information provided, determine the amount of revenue recognized during the accounting period.
b. Based on the information provided, determine the amount of net income earned during the accounting period.
c. Based on the information provided, determine the amount of cash flow from operating activities.
Business
1 answer:
irakobra [83]3 years ago
4 0

Answer:

a. $70,500

b. $7,500

c. $9,000

Explanation:

a. The computation of the amount of revenue is shown below:-

Amount of revenue = Ending balance of accounts receivable + Cash collected - Beginning balance of accounts receivable

= $10,500 + $72,000 - $12,000

= $70,500

b. The computation of net income earned during the accounting period is shown below:-

Net income = Revenue generated - Expenses

= $70,500 - $63,000

= $7,500

c. The computation of amount of cash flow from operating activities is shown below:-

Net cash flow from operating activities = Cash collection - Amount paid for operating expenses

= $72,000 - $63,000

= $9,000

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Through this process it is possible to control, how many units are started in a period and how many are finished in that period.

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3 years ago
Would it be more profitable to own 200 shares of Penny's pickles or 1 share of Exxon ?
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Answer:

an increase in equilibrium price and an indeterminate effect on equilibrium quantity.

Explanation:

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I hope my answer helps you

3 0
3 years ago
stock sells for $100 rights-on, and the subscription price is $90. Ten rights are required to purchase one share. Tomorrow the s
m_a_m_a [10]

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I am not a business student but I think this is common sense.

Yes most business people do that because they have to make sales, they pay taxes, buy raw materials, time wastage, fatigue, health related issues ,care for their family and would not want to go broke so I think that's most of it.

Hope I helped

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