Answer:
Option A is the correct answer
Explanation:
The cash received from customers can be computed using the formula as stated below:
Cash received=Sales+opening accounts receivable-closing accounts receivable
Cash received=$600000+$100000-$80000
Cash received=$620000
The above has been calculated on the premise that the customers are only owing $80000 as at the end of the year,which means $20000 has been paid from the $100000 owed at the beginning of the year.
Also,since the outstanding debt is only $80000, it means the sale amount of $600000 has also been settled in full,as a result $20000 plus $600000,gives $620000 total cash receipt
Answer: $360,050
Explanation:
The total cost of a fixed asset refers to all the cash that was paid to acquire the asset, transport it and then install it.
Cost of the new machinery is therefore = Discounted cost price + Sales tax + Installation charges + Concrete slab
= (270,000 * (1 - 2%)) + 79,750 + 4,800 + 10,900
= 264,600 + 79,750 + 4,800 + 10,900
= $360,050
<em>Cost price was discounted by 2% as per the credit terms of 2/10 which means that there is a discount of 2% if the asset is paid for in 10 days. </em>
Answer:
The net worth of a company
Explanation:
Retained earnings is what is left of net income after paying out dividends
Retained earnings = beginning of period retained earnings + net income - dividends
Answer: the combinations of two goods that can be produced with society's available resources
Explanation:
The production possibility curve is a curve that shows the maximum amount of two goods that can be combined in an economy using the country's available resources.
An outward shift of the production possibility curve or rightward shift implies that there's economic growth in the economy. This could be as a result of advancement in technology or better trained workers. An inward or leftward shift means lesser goods are produced in the economy. This could be as a result of war or other negative happenings.