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
slava [35]
3 years ago
12

To support herself while attending school, Daun Deloch sold stereo systems to other students. During the first year of operation

s, Deloch purchased the stereo systems for $140,000 and sold them for $250,000 cash. She provided her customers with a one-year warranty against defects in parts and labor. Based on industry standards, she estimated that warranty claims would amount to 2 percent of sales. During the year, she paid $2,820 cash to replace a defective tuner.
Prepare an income statement and statement of cash flows for Daun’s first year of operation. (Statement of Cash Flows only, items to be deducted must be indicated with a negative amount.)
Business
1 answer:
vfiekz [6]3 years ago
4 0

Answer:

Daun’s first year of operation

Income statement

Sales Revenues                       $250,000

Less  

Cost Of Sales                           $ 140,000

Less

Expenses                                   $ 2820

Warranty Claims                          5000

Net Income                                   102,180

 

Daun’s first year of operation

Cash Flows statement

Net Earnings                       $250,000

Less  

Cash Paid for

Inventory Costs                           $ 140,000

Replacements                                   $ 2820

Net Income                                   107,180

 

You might be interested in
The mickey and mouse cat food factory runs an aggressive marketing campaign and much to the? delight, orders surge to twice thei
Setler79 [48]
The impact on the order of the quantity will be able to get a 40% higher. It is because if the mickey and mouse cat food factory runs the marketing campaign to the delight order surge twice to their previous level and their operation manager uses the EOQ or the Economic Order Quantity, it is able to minimize the ordering cost and the total of the holding costs, producing an order quantity of 40% higher.
7 0
3 years ago
Which of the following 2 goods would most likely experience the law of increasing opportunity cost?
inn [45]
The correct answer would be A
8 0
3 years ago
Read 2 more answers
Does anyone know any good spells
son4ous [18]

Answer:

abra cadabra

Explanation:

8 0
2 years ago
Read 2 more answers
Can someone help me please? I attached the question THANKS
galben [10]

Answer:

Press a standard key on the keyboard.

Move the mouse.

Explanation:

7 0
2 years ago
Read 2 more answers
Alice's pasta kitchen makes quality pasta and sells its products to customers in other countries. this is an example of ___
ololo11 [35]
<span>Exporting. Exporting means sending goods or services produced in one country to another country. This is usually carried out with the intention of boosting revenue. Alice, in this instance, is referred to as an exporter; Exporting has a direct influence on a country's economy including but not limited to improving untapped markets, lower unit cost, minimising the effects of seasonal fluctuations in sales and many more.</span>
8 0
3 years ago
Other questions:
  • Arctic Cat sold Seneca Motor Sports a shipment of snowmobiles. The snowmobiles were delivered on January 1, 2021, and Arctic rec
    12·1 answer
  • Tool Makers, Inc. make garden rakes extremely well and of the best quality in the industry. Their rakes are difficult to copy, a
    11·1 answer
  • Wildhorse Co. began the year 2022 with retained earnings of $651000. During the year, the company sold additional shares of stoc
    9·1 answer
  • Equipment with a cost of $150,000 has an accumulated depreciation of $100,000. What is the historical cost of the equipment?
    5·1 answer
  • Bramble Inc. reported total assets of $2405000 and net income of $331000 for the current year. Bramble determined that inventory
    5·1 answer
  • Crusher Company has provided the following data for maintenance cost:
    6·1 answer
  • where cost is in dollars and time is in minutes. The cost of driving an automobile is $5.50 with a travel time of 21 minutes, wh
    15·2 answers
  • Jordan files his income tax return on a calendar-year basis. he is the principal partner of a partnership reporting on a june 30
    10·1 answer
  • 8. In the short run, there is a negative relationship between inflation and employment. A: True B. False​
    12·1 answer
  • As the attrition loss in a process increases, what happens to the yield?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!