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ExtremeBDS [4]
3 years ago
10

Accounts receivable: Select one: A. are reported on the income statement. B. arise from the purchase of goods or services on cre

dit. C. will be collected within the discount period or when due. D. are amounts owed to a business by its customers.
Business
1 answer:
Elena-2011 [213]3 years ago
5 0

Answer:

Option (D) is correct.

Explanation:

Accounts receivables refers to a term that is used by the businesses when a company sells the goods on account or credit to its customers and customers promise to pay this amount at a later date. The accounts receivable is shown under the current assets. When a company receives the amount of receivables then it will increases its cash and decreases the accounts receivables.

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1.) Ocean City Kite Company manufactures & sells kites for $6.50 each. The variable cost per kite is $3.50 with the current
Brut [27]

Answer:

$270,000

Explanation:

Contribution per kite = $6.50 - $3.50 = $3.00

Break even point = 90,000 kites

Since;

Break even point = Fixed cost / Contribution per kite.

We have:

90,000 = Fixed cost / $3.00

Fixed cost = 90,000 * $3.00 = $270,000

Therefore, Ocean City Kite Company's fixed costs is $270,000.

5 0
3 years ago
An individual who works at a bookstore routinely takes home ballpoint pens and post-it notes, uses the copy machine to make pers
Papessa [141]

This attitude is called cash register honesty.

The book store worker knows very well that ball point pens, post-its, copies on the copier machine and long-distance phone calls are office resources and should, in principle, be used only for office purposes.

He is also aware that the he is responsible for his own needs - be it post-its or long-distance phone calls.

By taking some small supplies home or using the office equipment for personal use (e.g. making personal copies or making personal long-distance phone calls), he increases the cost to the company.

Yet, he continues to indulge in the activities described in the question, because he believes, at a personal level, that he can get away with it . (It's okay with him at a personal level.)

However, since stealing from the cash register is not ok with him on a personal level, he doesn't do it even though he knows he can get away with it. This attitude is called cash register honesty.

7 0
3 years ago
gThe following data are available for Martin Solutions, Inc. Year 2 Year 1 Sales $1,139,600 $1,192,320 Beginning inventory 80,00
Vaselesa [24]

Answer and Explanation:

The computation is shown below;

For Year 1

Average inventory = (Beginning inventory + Ending inventory)÷ 2

= ($64,000 + $80,000) ÷ 2

= $72,000

Inventory turnover = Cost of goods sold  ÷ Average inventory

= $606,000 ÷ 72,000

= 8.4 times

Days in inventory = 365 ÷ Inventory turnover ratio

= 365 ÷ 8.4

= 43.5 days

For Year 2

Average inventory = (Beginning inventory + Ending inventory) ÷ 2

= ($80,000 + $72,000) ÷ 2

= $76,000

Inventory turnover = Cost of goods sold ÷ Average inventory

= $500,800 ÷ 76,000

= 6.6 times

Days in inventory = 365 ÷ Inventory turnover ratio

= 365 ÷ 6.6

= 55.3 days

3 0
2 years ago
The risk that cannot be diversified away is Group of answer choices unique risk and non-systematic risk. market and non-systemat
N76 [4]

Answer:

firm-specific risk.

Explanation:

Firm-specific risk can be regarded as unsystematic risk tht is associated with a specific investment in a particular firm, and as regards to theory of finance this is completely diversifiable.

Under this risk, It is possible for an investor to lower their risk through increament of the number of investments that they are having in their portfolio. As regards investor,

specific risk can be regarded as hazard which applies to a specific company.

It should be noted that The risk that cannot be diversified away is firm-specific risk.

7 0
3 years ago
The Salt and Pepper Partnership was formed in January of the current year when Salt and Pepper each contributed $10,000 cash and
Novay_Z [31]

Answer:

Salt's basis = -$3900 from a 50% sharing basis

Explanation:

profit sharing ratio as per contributions is 50%:50%

ordinary loss                  - $5000

tax exempt income       -$2000                  

Charitable contribution -$800

Taxable loss                 =$7800

profit(loss) share

Salt                         = -3900

Pepper                   =-3900

3 0
3 years ago
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