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Julli [10]
3 years ago
11

Accounts receivable arising from sales to customers amounted to $100,000 and $70,000 at the beginning and end of the year, respe

ctively. Credit sales reported on the income statement for the year were $200,000. Exclusive of the effect of any other adjustments, the cash collected from customers to be reported on a direct method statement of cash flows is:
Business
1 answer:
mote1985 [20]3 years ago
5 0

Answer:

The cash collected from customers = $230,000

Explanation:

The cash collected from customers to be reported on a direct method statement of cash flows is = Net sales + decrease in accounts receivable.

or, Net sales - Increase in accounts receivable

Given,

Net sales = $200,000

Beginning accounts receivable = $100,000

Ending accounts receivable = $70,000

Decrease in accounts receivable = $100,000 - $70,000 = $30,000

Putting the values into the formula, we can get

Net sales + decrease in accounts receivable

$200,000 + $30,000 = $230,000

The cash collected from customers = $230,000

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Each of the following documents is used in the control of cash disbursements except a.cash register tapes. b.receiving reports.
GrogVix [38]

Answer: a. cash register tapes.

Explanation:

When you go to a shop and buy something at the till and the cashier prints a receipt and gives it to you, that paper is a cash register tape.

A cash register tape therefore shows the goods sold and the amount the goods were sold at. It is therefore not used as a method of control for cash disbursement which is cash going out of a business but rather for cash that is coming into the business.

8 0
3 years ago
Discuss the pros and cons of four performance appraisal tools​
Tresset [83]

Answer:

Pros and cons are for every method listed below. A person can only see his strength and power during self assessment and he may ignore all his mistakes as it can be his over confidence in himself. Graphic rating may be disappointing as many employees can get same rating and there will not be any difference among them in the pay rise.

Explanation:

There are four major performance appraisal tools

1. Self assessment

2. Graphic Rating

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4. 360 degree feedback

5 0
2 years ago
Pretend you are an employer. you will discuss a promotion and a raise with an employee. What will you say to them?
pychu [463]

Answer:

Good luck with the promotion, here are some ideas for the company!

6 0
3 years ago
The CEO introduced another overseas effort by noting that it represented an attempt to confront an international competitor. The
ahrayia [7]

The CEO was most likely referring to the following​ efforts : <u>d) a distribution center established in London to preempt the growth of a British car manufacturer</u>.

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The following are some of the factors of production:

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ii) Technology

iii) Managerial talent

It is important for a company to take more effort and establish its distribution center overseas to confront the international competitors. In the above scenario, the CEO decided to establish his distribution center in London to block the growth of a British car manufacturer.

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2 years ago
The date the board of directors votes to declare and pay a cash dividend is called the?
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The date the board of directors votes to declare and pay a cash dividend is called the date of declaration.

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A declaration statement is issued that mainy includes the details such as the size of the dividend, the record date and its payment date.

Basically, the date on which the directors vote to declare and pay a dividend is called the declaration date.

Learn more about declaration date here:-

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5 0
1 year ago
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