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
JulsSmile [24]
3 years ago
14

The financial statements of New World, Inc., provide the following information for the current year: Dec.31 Jan.1Accounts receiv

able $ 273,000 $ 241,500 Inventory $ 262,500 $ 252,000 Prepaid expenses $ 67,200 $ 63,000 Accounts payable (for merchandise) $ 237,300 $ 221,550 Accrued expenses payable $ 66,150 $ 72,450 Net sales $ 3,097,500 Cost of goods sold $ 1,627,500 Operating expenses (including $ 367,500 depreciation of $94,500) Compute the amount of cash received from customers during the current year.Select one:a. $3,066,000b. $3,097,500c. $3,612,000d. $3,129,000
Business
1 answer:
pashok25 [27]3 years ago
3 0

Answer:

A $3066000

Explanation:

The formula for cash received from customers is: opening receivables+net sales-closing receivables.

The rationale behind the formula is that opening receivables would have turned cash by year end since current asset last one year maximum.

=$241500+$3097500-$273000

=$3066000

You might be interested in
The marketing mix elements are called ________ because they are the responsibility of the marketing department in an organizatio
Aleonysh [2.5K]

Answer:

controllable factors

Explanation:

The marketing mix elements are called

controllable factors because they are the responsibility of the marketing department in an organization.

It should be noted that the marketing mix elements are are reffered to as controllable factors because the controllable factors are those steps or action that are taken in business to bring about development and to market the business products and services.

These controllable factors could be the price of the product/ services how the product is been promoted as well as places and others.

3 0
2 years ago
What were working conditions like before the labor movement?
Ivan
Im not sure, sorry, I wish I could help
8 0
3 years ago
A change in depreciation method is accounted for:Select one:a. Retrospectively.b. Prospectively, like changes in accounting esti
arlik [135]

Answer: :a. Retrospectively

Explanation:

A change in depreciation method is a change in accounting policy and as such it would need to be accounted for retrospectively.

This means that it must be accounted for by going back to all periods where the change affects an entry and adjusting that entry for the change so that the accounting can be more accurate.

5 0
3 years ago
After Xavier and Alyssa deposited nearly $55,000 in a savings account at Bigbux Bank, the bank failed and filed for bankruptcy.
aleksandr82 [10.1K]

Answer: should be protected due to the fact that their account is insured by FDIC.

Explanation:

From the question, we are informed that after Xavier and Alyssa deposited nearly $55,000 in a savings account at Bigbux Bank, the bank failed and filed for bankruptcy but that the Bigbux was an FDIC member bank.

Based on the above scenario, Xavier and Alyssa should be protected due to the fact that their account is insured by FDIC. Since the bank is insured, their money is safe.

4 0
3 years ago
Read 2 more answers
Interstate 4 (i-4) and state road 408 are two major highways that affect traffic flows in orlando. motorists are not required to
Alexus [3.1K]
If at a given time of the day, the state road 408 is higly congested, then it could be considered to possess the properties of a COMMON PROPERTY GOOD.
There are four types of economic goods, these are: public goods, private goods, common property goods and club good.
Common properties goods are those goods which are characterised by rival consumption and non exclusion of non payers. Rival consumption implies that consumption by a user imposes limitations on what others can consume, but a user can not stop another user from enjoying the good. Common property goods are equally owned by everyone  and are not controlled by anyone in particular, thus these goods usually need government intervention.
3 0
2 years ago
Other questions:
  • Which of the following is not correct? a. The consumer price index gives economists a way of turning dollar figures into meaning
    7·1 answer
  • QUESTION 1<br> To what does tax progressivity refer? (5 points)
    14·1 answer
  • Hawaiian Specialty Foods purchased equipment for $30,000. Residual value at the end of an estimated four-year service life is ex
    5·1 answer
  • What necessary condition for the presence of competition in a market?
    10·2 answers
  • A generation ago, ketchup was an essential element of every American pantry and salsa was a relatively unknown product. The popu
    14·1 answer
  • General Motors purchased on account a shipment of iron bars from Furnace Inc. and promptly paid within the discount period. Comp
    11·1 answer
  • A manager makes the following statement to a subordinate: "I need this report back in five minutes, and it better be perfect." W
    14·1 answer
  • Differentiate between manmade and natural attraction​
    15·1 answer
  • What is the manufacturing industry?
    12·1 answer
  • What change in the book value of the company's equity took place at the end of ?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!