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geniusboy [140]
3 years ago
15

Suppose Columbia Sportswear Company had accounts receivable of $206,090,000 at the beginning of a recent year, and $267,085,000

at year-end. Sales revenue was $1,093,860,000 for the year. What is the amount of cash receipts from customers?
Business
1 answer:
scZoUnD [109]3 years ago
3 0

Answer:

The amount of cash receipts from customers: $1,032,865,000

Explanation:

Assuming that all Sales revenue was on credit sales.

In Suppose Columbia Sportswear, Sales revenue was $1,093,860,000, accounts receivable in the year increased $1,093,860,000. Basing on formula:

Accounts receivable at year-end = Accounts receivable at the beginning of the year + Accounts receivable increasing in the year - Accounts receivable decreasing in the year

Thefore:

Accounts receivable decreasing in the year = Accounts receivable at the beginning of the year + Accounts receivable increasing in the year - Accounts receivable at year-end = $206,090,000 + $1,093,860,000 - $267,085,000 = $1,032,865,000

This is also the amount of cash receipts from customers.

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Use the following information to calculate cash received from dividends: Dividends revenue $ 32,300 Dividends receivable, Januar
drek231 [11]

Answer:

$31,000

Explanation:

Calculation for the cash received from Dividend

Beginning dividends receivable + Dividend revenue - dividends paid = Ending dividends receivable

Hence,

Using this formula

Dividends paid = Beginging dividends receivable + dividend revenue - Ending dividends receivable

Let plug in the formula

= 3,100+32,300-4,400

=31,000

Therefore the amount of cash received from dividend will be $31,000.

Thus the dividend revenue is not the dividends which was received in cash, but instead it is the dividends which was earned during the period.

4 0
3 years ago
These items are taken from the financial statements of Martin Corporation for 2017.
ella [17]

Answer:

Service revenue                                    68,000

Utilities expense                             2,000

Maintenance and repairs expense 1,800

Depreciation expense                    3,600

Insurance expense                         2,200

Salaries and wages expense       37,000

Total expenses                                <u>     (46,600)   </u>

Net Income                                             21,400

Retained earnings (beginning) $31,000

Net Income                                  21,400              

Dividends                                <u>   (12,000)   </u>

Ending Retained Earnings         40,400

Balance Sheet

Assets

current

Cash                           10,100

Accounts receivable  11,700

Prepaid insurance  <u>    3,500   </u>

total current              25,300

Non-Current

Equipment(net)         48,400

Total Assets:              73,700

Liabilities

Accounts payable                18,300

Salaries and wages payable 3,000

Total Liabilities                      21,300

Equity

Common stock           12,000

Retained Earings        40,400

Total Equity                 52,400

Total Liabilities + Equity        73,700

Explanation:

First, we do the income statmeent which is revenues less expenses accounts

Then, we do the retained earnings.

To the beginning balance we add up the net income and subtract the dividends.

Then, end with the blaance sheet:

first assets in order of liquity

then liabilities and last equity using the retained earnings balance we calcualted.

5 0
3 years ago
How many cases of bankruptcy cases are provided for in the bankruptcy code
tia_tia [17]
There are six types of bankruptcy cases that are provided for in the bankruptcy code, They are:

Chapter 7, Chapter 9, Chapter 11, Chapter 12, Chapter 13, Chapter 15

In short, Your Answer would be Option B

Hope this helps!
4 0
3 years ago
When an organization adopts the ______ concept, it has made the attempt to know as much about the consumer as possible and has d
Alexandra [31]

Answer:

c. Marketing concept

Explanation:

Marketing concept -

It is the strategy adopted by the organisation , in order to meet the demands of the consumers , tackle the competition , increase the profit margin and increase sale , is referred to as the marketing concept .

Hence , the marketing department of the organisation , tries to focus on the consumers , in order to beat the upcoming competition.

Hence , the given information of the question,

The correct option is c. Marketing concept  .  

6 0
3 years ago
Assume that the market is perfectly competitive. If the cost function for John's Shoe Repair is �(�) = 100 + 10� − �) + 3 4 �4,
kirill [66]

Answer:

Explanation:

C(q) = 100+10q-q^2+(1/3)q^3

To find the firm marginal cost function:

Take the derivative with respect to q

MC = 10 - 2q + q^2

Assuming that the market price is p , then the profit maximising condition is:

MR = MC

p = 10 - 2q + q^2

The short-run supply curve is the marginal cost curve that lies above the average variable cost.

The average variable cost is:

AVC =VC/Q

AVC = (10q-q^2+(1/3)q^3)/Q

AVC = 10 - q + (1/3)*q^2

So, the short-run supply curve is:

SRS = 10 - 2q + q^2 if p > 10 - q + (1/3)*q^2

5 0
3 years ago
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