Answer:
Cash was collected from customers during the year was $ 104,100
Explanation:
Sales revenue = $120,000
Bad debt expense = 2.5% of sales
Therefore, Bad debt expense = $120,000 x 2.5% = $3,000
Thus, allowance for uncollectible accounts should have increased by $3,000. But it increased by $2,100.
Therefore, uncollectible accounts receivable of $900 ($3,000 - $2,100) were written off during that year.
Cash collected from customers = Sales revenue - Increase in accounts receivable - Uncollectible accounts written off
= $120,000 - $15,000 - $900
= $104,100
You would record the fair value.
Answer: 35.49
Explanation:
The projected sales will be:
= $76,000 × $36
= $2,736,000
The desired return on the investment will be calculated as the Investment multiplied by the desired return rate. This will be:
= $240,000 × 16%
= $240,000 × 0.16
=$38,400
The total target cost will now be:
= $2,736,000 - $38,400
= $2,697,600
The The target cost per crepe maker is closest to:
= $2,697,600/$76,000
= 35.49
Answer:write out 40 wen you divied
Explanation:
Answer:
B: $7,300
Explanation:
Cash Balance 1 April $ 14,700
Add: Cash Receipts $ 60,000
Less: Cash Payments <u>$(70,000)</u>
Net Cash Balance $ 4,700 A
Amount to Borrow <u>$ 7,300</u> <u>C</u>
Minimum Cash balance <u>$ 12,000</u> B
B-A = C.
i.e $12,000 - $ 4,700 = $ 7,300