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3 years ago

What is the total amount of money a firm receives by selling goods or services called?'?

1 answer:

8 0

The total amount of money a firm receives by selling goods or services is called total revenue. Total revenue is defined as the total receipts of sales from any good or service provided. You can find the total revenue of a business by multiplying the price of the good/service by the quantity of goods sold.

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The following trial balance of Pronghorn Traveler Corporation does not balance. Pronghorn Traveler Corporation Trial Balance Apr

Sophie [7]

Answer:

adjusting entries:

1. Cash received from a customer on account was recorded (both debit and credit) as $1,940 instead of $2,210.

Dr Cash 270

Cr Accounts receivable 270

2. The purchase on account of a computer costing $3,080 was recorded as a debit to Office Expense and a credit to Accounts Payable.

Dr Equipment 3,080

Cr Office expense 3,080

3. Services were performed on account for a client, $2,610, for which Accounts Receivable was debited $2,610 and Service Revenue was credited $585.

Dr Accounts receivable 0

Cr Service revenue 2,025

4. A payment of $455 for telephone charges was entered as a debit to Office Expense and a debit to Cash.

Dr Office expense 0

Cr Cash 910

5. The Service Revenue account was totaled at $5,560 instead of $5,640.

Cr Service revenue 80

the adjusted trial balance should be:

Debit Credit

Cash $5,992

Accounts Receivable $5,330

Supplies $3,327

Equipment $9,540

Accounts Payable $7,404

Common Stock $8,360

Retained Earnings $2,360

Service Revenue $7,665

Office Expense $1,600

Totals $25,789 $25,789

6 0

4 years ago

A company's 2019 financial records included the following: Jan. 1, 2019 Dec. 31, 2019 Accounts Receivable $100,000 $80,000 Inven

Anna007 [38]

Answer:

The amount of net cash from operating activities for 2019 is $210,000.

Explanation:

Cash flows from operating activities refers to the section of the statement of cash flow that reveal the sources and utilization of cash got from ongoing normal business activities of a company in particular period.

Items that usually found under cash flows from operating activities are net income from the income statement, adjustments to reconcile net income, and changes in working capital.

The amount of net cash from operating activities for 2019 can be determined by preparing a statement of cash flow for operating activities only as follows:

Statement of cash flows

(Operating activities section only)

For the year ended 2019

Details Amount ($) 

Net income 155,000

Adjustment to reconcile net income:

Depreciation expense 25,000

Changes in working capital:

(Increase) decrease in current assets

Accounts Receivable ($80,000 - $100,000) 20,000

Inventory ($70,000 - $50,000) (20,000)

Prepaid Expenses ($75,000 - $100,000) 25,000

Increase (decrease) in current liabilities

Accounts Payable ($110,000 - $100,000) 10,000

Deferred Revenue ($70,000 - $85,000) (15,000)

Net cash from operating activities  210,000 

3 0

4 years ago

All slings shall be manufactured under ASME B30.9 guidelines and must have an affixed permanent identification tag that includes

Vikentia [17]

Answer:

All of the above

Explanation:

All slings must have an affixed permanent identification tag that includes; The name or trademark of the manufacturer, WLL for the given type of hitch and configuration, and also the type of material used for the production of the sling. although there are many slings in the market but slings can be categorized into three recognized categories which are ; synthetic,chain and wire rope.

ASME B30 is charged with the responsibility for the Safety and Standard for Cableways, Cranes, Derricks, Hoists, Hooks, Jacks, and Slings. so they ensure that an affixed permanent identification tag is attached to products as well.

8 0

3 years ago

When a firm can _____ its capital equipment over a shorter period, it cuts its taxes _____. appreciate; later appreciate; now de

Andre45 [30]

When a firm can depreciate its capital equipment over a shorter period, it cuts its taxes now.

A capital asset's value dropping is referred to as capital depreciation. To determine the recovery cost incurred on fixed assets over the course of their useful lives, assets are depreciated. When the asset reaches the end of its useful life or you need to sell it, this is used as a sinking fund to replace it. Depreciation lowers the taxable income, which lowers the tax burden. Capital assets are listed as an asset on the balance sheet and are depreciated over the course of their useful lives. Businesses typically have to spread out the costs of capital investments over a number of years in accordance with predetermined depreciation schedules.

More about depreciation brainly.com/question/15178885

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8 0

2 years ago

Labeau Products, Ltd., of Perth, Australia, has $25,000 to invest. The company is trying to decide between two alternative uses

lesya [120]

Answer:

Plese see explanation

Explanation:

1. Net present value of project X

Year Cash flow Present value at 16%

0 (25,000) (25,000)

1-6 8,000 29,477.89

Net present value= $4,477.89

2. Net present value of project Y

Year Cash flow Present value at 16%

0 (25,000) (25,000)

6 60,000 24,626.54

Net present value= ($373.46)

3. I will recommend Labeau Products, Ltd to invest in project X instead of project Y because the net present value of project X is positive and project x will increase the wealth of shareholders of the Labeau Products, Ltd by $4,477.89

6 0

3 years ago