Answer:
$765,000
Explanation:
The computation of the accounts receivable balance is shown below:
We know that
Days Sales Outstanding = (Accounts receivable ÷ Credit Sales) × Total number of days in a year
46 days = (Account receivable ÷ $6,205,000) × 365 days
So, the account receivable would be
= ($6,205,000 × 45 days) ÷ 365 days
= $765,000
We simply applied the above formula.
Answer:
a. Yes, it is likely to be enforceable during Larry's employability with Curb.
Explanation:
Larry has signed a contract with Curb that he will not be writing script for any other show while he is working with him. If Larry writes the script for Jerry he will be held responsible for breach of contract terms, and the agreement is likely to be enforceable by court against Larry.
Answer:The minimum amount is the price that will give a profit of $3700
Explanation:
The minimum amount the company should accept for product X if it's to be sold at the split off point it's maximum amount they will earn as profit if they sales after further procession.
The total cost the company will incur if they process further it's the cost they incurred at the split off point and at further procession which equals ($16,800+$15,000) =$31,800
On sales after procession they will earn a price of $35500 which means a profit of $3700 this means the firm should sale product X at spilt off point for a price that will bring a minimum profit of $3700.
Answer:
A. $ 4,123
Explanation:
For accounting purposes we will consider as cost to ivnentory all the necessarycost incurred to get the merchandise ready for use. Therefore the returns and dsicount decrease the inventory as they weren't cost incurred.
The freight will count as necessary and incurred thus, added.
Invoice nominal 4,800
returns
4,800 x 20% = <u> (960)</u>
balance 3,840
discount 2% <u> (76.8) </u>
merchandise cost 3.763,2
freights-in <u> 360 </u>
total cost 4,123.2
Answer:
$22,200
Explanation:
Particulars Amount
Cost of Goods Sold $19,400
Ending inventory Finished Goods <u>$2,800</u>
Cost of goods available for sale <u>$22,200</u>
