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Elza [17]
4 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]4 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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On December 31, 2019, the unadjusted credit balance of the Allowance for Overvaluation of Inventories: Hope Branch ledger accoun
Zigmanuir [339]

Answer:

                                Journal entries

Date           Particulars                                    Debit         Credit

31, Dec 19  Investment in Branch Office     $132,000

                         To Inventories                                         $110,000

                         To Allowance for Overvaluation of        $20,000

                         Inventories

31, Dec 19    Profit and loss                          $18,400

                           To Investment in Branch Office            $18,400

31, Dec 19     Allowance for Overvaluation   $10,000

                     of Inventories

                           To Realized Gross Profit: Branch Sales  $10,000

Workings

1. Unrealized Inter-company Inventory Profit = (132,000/120) * 20 = $22,000

Shipment to Branch = 132,000 - 22,000 = $110,000

2. Unrealized Inter-company Inventory Profit = (60,000/120) * 2 = $10,000

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3 years ago
How does the viscosity of the magma fed to volcanoes affect nearby life and property?
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8 0
3 years ago
Various financial data for Year 1 and Year 2 follow. Calculate the total productivity measure and the partial productivity measu
Ber [7]

Answer:

See below

Explanation:

With regards to the above, the formula for total productivity measure is

= Output Sales( Total output) / Total Input

Total productivity measurement for Last year.

Output sales = $200,000

Total input = Input labor + Raw materials + Energy + Capital + others

= $30,000 + $35,000 + $5,000 + $50,000 + $2,000

= $122,000

Therefore, total productivity measure

= $200,000/$122,000

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Total productivity measurement for this year

Output sales= $220,000

Total input = Input labor + raw materials + energy + capital + others

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= $220,000/$144,000

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Output sales = $200,000

Input = Input labor + raw materials + capital

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Input = Input labor + raw materials + capital

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= $135,000

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= 1.63

The above measures indicates that there is a reduction in total productivity measures from last year to this year. Same applies to partial productivity measures for both years.

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Answer:

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Using Normal distribution function, the new confidence interval is 87.76%

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