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Lynna [10]
3 years ago
7

On April 30, Victor Services had an Accounts Receivable balance of $37,800. During the month of May, total credits to Accounts R

eceivable were $73,600 from customer payments. The May 31 Accounts Receivable balance was $31,000. What was the amount of credit sales during May?
Business
1 answer:
Zielflug [23.3K]3 years ago
4 0

Answer:

The answer is $66,800

Explanation:

Beginning accounts receivable balance ---$37,800

Ending accounts receivable balance -----$31,000

Total credits to Accounts Receivable------ $73,600

Credit sales = (Total credits to Accounts Receivable + Ending accounts receivable balance) - Beginning accounts receivable balance

($73,600 + $31,000) - $37,800

$104,600 - $37,800

= $66,800

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Which of the following statements is true? (A) Henry must report the $12,000 alimony received as income and Charlotte can claim
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Answer:

The correct statement is B

Explanation:

Relevant information:

Henry (H) and Charlotte (C) separated in the year 2018 and their divorce was finalized in 2019, January

During the year, 2019 C paid H alimony of $12,000

Now, will analysis the information:

As per the U. S (United States) IRS (Internal Service Revenue), if the divorce is finalized in 2019 or after that, then the payment of alimony are no longer is deductible, nor the recipient have to record or report them as an income.

So, in the given case, H is not required to report the alimony payment received as an income and C cannot claim the alimony paid as an adjustment to the income.

Therefore, the correct answer is B.

Note: The relevant information is taken from the case which is stated or given above before the question.

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The Matthews want to split their refund between savings and checking accounts. How is this accomplished, if possible? OA Complet
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Answer:

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Distributions of cash or other resources by a business to its stockholders are called:
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3 years ago
Karl runs a store that sells small and large space heaters. The large heaters sell for $250 each with unit variable costs of $12
umka2103 [35]

Answer: Karl must sell 1350 small heaters and 450 large heaters to break even.

We follow these steps to arrive at the answer:

No.                                               Small Large     Total

1 Selling Price per unit                     80  250  

2 Variable Cost per unit                  30   120  

3 Number of units sold              2100   700       2800

4 Sales mix                                  3      1  

5 Total sales (1*3)                  168000   175000  

6 Total Variable Cost (2*3)   63000    84000  

7 Contribution Margin (5-6)  105000     91000      196000

Next we compute the Weighted Average Contribution Margin as follows:

\mathbf{WACM per unit = \frac{Total Contribution Margin}{Total number of units sold}}

\mathbf{WACM per unit= \frac{196000}{2800} = 70}

Now, Break even point (BEP) is computed as

\mathbf{BEP = \frac{Total Fixed Costs}{WACM per unit}}

\mathbf{BEP = \frac{126000}{70} = 1800 units}

Since the large and small heaters are sold in the 3:1 ratio, we can find the number of large and small heaters to be sold in order to achieve the break even point at 1800 units.

No. of small heaters = BEP * \frac{3}{4}

No. of small heaters = 1800 * \frac{3}{4} = 1350 units

No. of large heaters = BEP * \frac{1}{4}

No. of large heaters = 1800 * \frac{1}{4} = 450 units



3 0
3 years ago
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