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pychu [463]
3 years ago
11

Tropical Tours reported revenue of $400,000 for its year ended December 31, Year2. Accounts receivable at December 31, Year1 and

Year2, were $35,000 and $32,000, respectively. Using the direct method for reporting cash flows from operating activities, Tropical Tours would report cash collected from customers of:
a. $400,000.
b. $397,000.
c. $403,000.
d. $365,000.

Business
1 answer:
Svetradugi [14.3K]3 years ago
4 0

Answer:

Correct option is C.

Step wise solution is given below for demonstration.

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Suppose that the wage rate is $30 per hour, and the firm sells each unit of output for $6. Using the data from Table 7.3, how ma
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I found this data from Table 7.3
<span> <span> </span><span><span> Labor Input Output
</span> <span> 0                          0
</span> <span> 1                          40
</span> <span> 2                          70
</span> <span> 3                          90
</span> <span> 4                       100
</span> <span> 5                       105
</span> <span> 6                       108

Labor Cost = Labor Input x 30
Output Sales = Output x 6
Revenue = Sales - Cost

</span></span></span><span> <span> </span><span><span> Labor cost        Output Sales
</span> <span> 0                                    0
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</span> <span> 60                                 420
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</span> <span> 120                               600
</span> <span> 150                               630
</span> <span> 180                               648

</span></span></span><span> <span> </span><span><span> Labor Input     Output      Labor cost    Output Sales <span>   Revenue</span>
</span> <span> 0                         0                 0                      0                        0
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