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Elza [17]
3 years ago
11

Alex Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December

31, 2018, Alex Company reports the following activity: Sales on account $2,100,000 Cash sales 1,110,000 Decrease in accounts receivable 915,000 Increase in accounts payable 108,000 Increase in inventory 72,000 Cost of good sold 1,575,000 What is the amount of cash collections from customers reported by Alex Company for the year ended December 31, 2018
Business
1 answer:
SpyIntel [72]3 years ago
4 0

Answer:

The amount of cash collections from customers reported by Alex company for the year ended December 31, 2018 is $4,125,000.

Explanation:

Cash collection refers to the collection of cash from from an individual or a business whom invoice has been issued to. Any invoice unpaid are noted as being outstanding.

Cash collection fomular is therefore;

Cash collection = Sales on account + Cash sales + Decrease in accounts receivable

=$2,100,000 +$1,110,000 + $915,000

=$4,125,000

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ziro4ka [17]

Answer: Under the given circumstances , the following would be a positive externality for the global environment:<em><u> </u></em><u><em>Fewer people move from rural to urban areas, reducing urban sprawl.</em></u>

Urban sprawl can lead to several negative externalities such as : pollution, exploitation of natural resources at an exponential rate, unemployment etc.

Therefore, if fewer people move from rural to urban areas, this will reduce urban sprawl and further every other negative externality associated with it.

<u><em>The correct option is (A)</em></u>  

3 0
3 years ago
All else constant, an increase in a firm's cost of debt: a. will lower the firm's weighted average cost of capital. b. will resu
Elanso [62]

Answer:

C

Explanation:

will increasethr firm's capital structure weight of dept.

8 0
3 years ago
Mr. West wishes to purchase a condominium for $240,000 in cash upon his retirement 10 years from now. How much should he deposit
Oduvanchick [21]

Answer:

He should deposit $1,744.37 at the end of each month.

Explanation:

This can be calculated using the formula for calculating the Future Value (FV) of an Ordinary Annuity as follows:

FV = M * (((1 + r)^n - 1) / r) ................................. (1)

Where,

FV = Future value or the of condominium = $240,000

M = Monthly payment = ?

r = monthly interest rate = 2.7% / 12 = 0.027 / 12 = 0.00225

n = number of months = 10 years * 12 months = 120

Substituting the values into equation (1) and solve for M, we have:

$240,000 = M * (((1 + 0.00225)^120 - 1) / 0.00225)

$240,000 = M * 137.585424499073

M = $240,000 / 137.585424499073

M = $1,744.37

Therefore, he should deposit $1,744.37 at the end of each month.

8 0
3 years ago
Farmer Fanny sells her crops in a perfectly competitive market. If she produces 500 bushels for total revenue of $3,000 and if h
PolarNik [594]

Answer:

E) profit will fall by $4.00 if she harvests the 501" bushel.

Explanation:

Please see attachment

Download pdf
3 0
3 years ago
Infinity Corporation purchased equipment with a 10-year useful life and zero residual value for $10,000. At the end of the fifth
sesenic [268]

Answer:

a capital gain of $1,000.

Explanation:

Given,

The cost price of Equipment = $10,000

Useful life of the equipment = 10 years

Residual value = $0

Depreciation (Straight-line method) = Cost price/useful life

Depreciation (Straight-line method) = $10,000/10 = $1,000

Since, it is a straight line method, the depreciation will remain same each year. Therefore, at the end of the fifth year, the depreciation of equipment = $1,000 x 5 = $5,000

At the end of the fifth year,

The book value of the equipment= Equipment - Accumulate depreciation= $(10,000 - 5,000) = $5,000

If the company sales the equipment after the end of the fifth year,

there will be a capital gain.

Capital Gain of equipment = Sales price of equipment - book value of equipment

Capital Gain of equipment = $6,000 - 5,000 = $1,000. The journal entry will be -

Cash/Bank                              Debit       $6,000

Accumulated Depreciation   Debit       $5,000

Gain on sale of equipment                  Credit       $1,000

Equipment                                            Credit      $10,000

5 0
3 years ago
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