1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ede4ka [16]
3 years ago
13

In 2021, Hope Company incurred sales on account of $139,000. The company also has the following information: December 31, 2021 D

ecember 31, 2020 Accounts Receivable $ 25,000 $ 64,000 Accounts Payable $ 69,000 $ 49,000 What is the amount of cash received from customers for Hope Company in 2021? Multiple Choice $115,000 $139,000 $143,400 $178,000
Business
1 answer:
Kazeer [188]3 years ago
6 0

Answer:

$178,000

Explanation:

<u>Cash received from customers:</u>

Sales on account                         139,000

Beginning Account Receivable  <u>  64,000 </u>

Total amount to be collected     203,000

Ending Account Receivable        <u> (25,000) </u>

Received from customer             178,000

The beginning AR and the sales on account are all the cash we can collect for the period from our customer.

The ending AR is the amount not collected from. If we had collected all the ending account receivable should be zero. It has an ending balance, so some account weren't collected. We will subtract them from the total sales to be collected.

<em>The account payable: </em>Refers to debt form the firm to his suppliers. It has no relationship with the customer. Is irrelevant.

You might be interested in
In an organization that has a ________, a centralized decision-making mechanism helps in the resolution of conflict between subu
Jlenok [28]

We have that the statement is as follows

In an organization that has a ____ functional structure____, a centralized decision-making <em>mechanism </em>helps in the resolution of conflict between subunits.

<h3>Centralized decision-making mechanism</h3>

Generally,Centralized selection making in a useful shape helps in stopping feasible conditions the place disputes can arise.

We see that centralized choice making mechanism does is that every purposeful branch is required to comply with choices that go with the flow down from the pinnacle administration.

Therefore, In an organization that has a ____ functional structure____, a centralized decision-making <em>mechanism </em>helps in the resolution of conflict between subunits.

For more information on Decision

brainly.com/question/13171394

5 0
2 years ago
Cisco Systems uses a differentiation strategy. It offers its customers the latest in routers and switches. Cisco products may co
defon

Answer: The corrects answers are "organic", "B. Decentralized decision making allows for greater flexibility in meeting customer needs." and "D. Shorter chains of command and horizontal communication allow for increased innovation.".

Explanation: Cisco Systems will be more effective if it has <u>an organic </u>structure.

The reasons that explain this are that decentralized decision-making provides greater flexibility in meeting customer needs, and through short chains of command and horizontal communication, innovation is promoted.

3 0
4 years ago
Which of the following is not correct?a. If the inflation rate exceeds the nominal interest rate, then the purchasing power of a
lilavasa [31]

Answer:

The options which is NOT correct is C.

Purchasing power does not increase with inrease in the rate of inflation. There is an inverse relationship between inflation and purchasing power of money.

Explanation:

Inflation refers to the overall increase in prices of goods and services and the erosion of the power of the currency to purchase those goods and services. In otherwords, when inflation happens, one requires more dollar bills to purchase same unit of goods or services.

Deflation is the opposite of inflation. It refers to the decrease in the prices of goods and services and is usually accompained by an increase in the purchasing power of the currency.

Nominal interest rate simply put is the interest payable on a loan without considering processing fees, compounding interest payable and the erosion of the value of such money.

Cheers!

             

4 0
3 years ago
Which of the following is a contingency that would most likely require accrual? Sales tax payable. Customer premium offers. Pote
BARSIC [14]

Answer:

The correct answer is B

Explanation:

The contingency is the plan, which is course of action for the business that would take if an unexpected situation occur. So, the contingency plan is the plan or method which ensures that the business is prepared for what may come.

Accrual for contingency, it is the information which is available previously to issuance of the financial statements that indicates the assets has been impaired and the loss amount could be reasonably estimated.

The one which is most likely need the accrual is the customer premium offers as it is the technique of sales promotion where the customers are provided two or more products and they pay the price lower of the combined products.

5 0
4 years ago
Pei's savings account balance is $12,000 today. Pei opened the account exactly 7 years ago with a $10,000 deposit. Pei has made
koban [17]

Answer:

2.64%

Explanation:

A = P(1 + r)^n

A = $12,000

P = $10,000

n = 7 years

12,000 = 10,000(1 + r)^7

(1 + r)^7 = 12,000/10,000 = 1.2

(1 + r)^7 = 1.2

1 + r = (1.2)^1/7

I + r = 1.0264

r = 1.0264 - 1 = 0.0264

r = 0.0264 × 100 = 2.64%

5 0
3 years ago
Other questions:
  • Which of the following is a characteristic of a sole proprietorship
    14·1 answer
  • When Tom had the satellite dish placed on the roof of his house, the installer dislodged and made no attempt to replace a half d
    14·1 answer
  • Andrea works as an accountant at a law firm. Her annual gross pay is $48,000. Her deductions include mortgage interest and healt
    15·2 answers
  • A production facility is trying to determine the best batch size for an item that is produced intermittently. This item has an a
    15·1 answer
  • You decide to start your own business as a professional corporation. You purchase an office building for $35,000 from your mothe
    9·1 answer
  • Suppose that the demand for loanable funds for car loans in the milwaukee area is $10 million per month at an interest rate of 1
    14·1 answer
  • Which of the following would you classify as a true emergency? A. Overdrawing your checking account B. Losing your job C. Wantin
    9·2 answers
  • Some students and scholars may owe money with their tax return. Nonresidents have which of the following payment options?
    13·1 answer
  • cpas provide assurance on the information for a third party in all of the following situations except
    7·1 answer
  • review the statements below and select the ones that are correct regarding the days' sales in inventory ratio. (check all that a
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!