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aalyn [17]
3 years ago
7

Accounts receivable had a debit balance of $4,000 at the beginning of the period, and a debit balance of $3,000 at the end of th

e period. Credit sales for the period totaled $22,000. Using this information, cash receipts for the period totaled:
a. $26,000
b. $32,000
c. $28,000
d. $20,000
Business
1 answer:
Reil [10]3 years ago
7 0

Answer:

$23,000

Explanation:

The computation of the cash receipts is shown below:

= Opening balance of account receivable + credit sales - ending balance of account receivable  

= $4,000 + $22,000 - $3,000

= $23,000

We simply applied the above formula

Hence, the cash receipts is $23,000

The above is the answer.

The options that are given is wrong

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Exercise 5-8 Equivalent Units; Cost per Equivalent Unit; Assigning Costs to Units-Weighted-Average Method [LO5-2, LO5-3, LO5-4]
S_A_V [24]

Answer:

1. Calculate the first production department's equivalent units of production for materials and conversion for May.

  • materials = 275,000 + 50,000 = 325,000
  • conversion = 275,000 + 12,500 = 287,500

2. Compute the first production department's cost per equivalent unit for materials and conversion for May.

  • materials = $169,000 / 325,000 = $0.52
  • conversion = $253,000 / 287,500 = $0.88

3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May.

  • materials = 50,000 x $0.52 = $26,000
  • conversion = 12,500 x $0.88 = $11,000
  • total = $37,000

4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May.

  • materials = 275,000 x $0.52 = $143,000
  • conversion = 275,000 x $0.88 = $242,000
  • total = $385,000

Explanation:

Beginning WIP 70,000 units

materials $56,100

conversion $16,400

Ending WIP 50,000 units

100% completed for materials (50,000 EU)

25% completed for conversion (12,500 EU)

units started 255,000

total units transferred out 275,000

materials cost added during the period = $112,900

conversion cost added during the period = $236,600

7 0
3 years ago
A justice who agrees with the outcome of a case but not the reason proffered by other justices can issue a dissenting opinion th
vodka [1.7K]

Answer: False

Explanation:

A dissenting opinion refers to an opinion in a legal case that's written by the judge(s) who disagree with the court's majority opinion that gives rise to its judgment.

It should be noted that a justice who agrees with the outcome of a case but doesn't agree with the reason that was proffered by other justices can issue a concurring opinion and not a dissenting opinion.

Therefore, the correct option is False.

8 0
3 years ago
Company ABC reported the following: 1. Net Income: $110,000 2. Return on Sales (Net Income/Sales): 3.56% 3. Gross Profit Percent
Sergeeva-Olga [200]

Answer:

$2,266,123.60

Explanation:

As it is given

Return on sales = Net income ÷ Sales

3.56% = $110,000 ÷ Sales

So, the sales is  $3,089,887.64

Now the Gross Profit percentage is

Gross Profit percentage = Gross profit ÷ Sales

26.66% = Gross profit ÷ $3,089,887.64

So, the gross profit

= $823,764.044

Now the cost of goods sold is

= Sales - gross profit

=  $3,089,887.64 - $823,764.044

= $2,266,123.60

8 0
3 years ago
Mention two ways of using money wisely​
Ilya [14]
Investing in stock is a wise use of your money please mark brainliest
4 0
3 years ago
Read 2 more answers
2022 altima’s xtronic cvt includes adaptive ratio control, which ________.
Flura [38]

Considering the automobile analysis, the 2022 Altima's X-Tronic CVT includes adaptive ratio control, which "<u>varies transmission response depending on the driving situation."</u>

<h3>The 2022 Altima's X-Tronic CVT </h3>

2022 Altima's X-Tronic CVT is one of the latest brand vehicles made by the Nissan manufacturer. The vehicle is finely designed to give users modern features and functions.

The 2022 Altima's X-Tronic CVT comes with adaptive ratio control, which "<u>varies transmission response depending on the driving situation</u>, "enhancing the ease of navigation system when driving through the road.

Hence, in this case, it is concluded that the correct answer is "<u>varies transmission response depending on the driving situation."</u>

Learn more about automobile features here: brainly.com/question/25981194

4 0
3 years ago
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