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ss7ja [257]
2 years ago
12

Frank's sporting goods projects sales for the second quarter of 2021 to be as follows: April $250,000 May $300,000 June $380,000

All of Frank's sales are on credit, 45% of credit sales are collected one month following the sale and the rest are collected two months following the sale. January sales were $150,000, February sales were $180,000, and March sales were $280,000. What are the total cash receipts in the month of May
Business
1 answer:
fomenos2 years ago
8 0

Answer:i would tell you to look on a the brainly app lol

Explanation:

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To prepare a cvp graph, lines must be drawn representing total revenue, ______.
Maurinko [17]

The preparation of the CVP graph requires drawing a line representing the total revenue, total expense, and total fixed expense.

<h3>What is the CVP Graph?</h3>

The CVP Graph, also known as a cost volume profit chart, is a graphical illustration that depicts the link between production costs and overall revenues.

The CVP graph is used by businesses to determine the possible impact of changes in volume sales on production process costs and total earnings.

In this scenario, the graph considers the total revenue, total expense, and total fixed expense.

Learn more about the CVP graph here:

brainly.com/question/26411668

8 0
2 years ago
A corporate culture is generally defined as the
Lady bird [3.3K]

Answer:

inner rites, rituals, heroes, and values of a firm. one's duty to do a job or perform a task is called.

Explanation:

5 0
3 years ago
Assume these events happened to Bakko, Inc. in Year 4. Bakko uses December 31 for the annual reporting period. At the beginning
aleksandr82 [10.1K]

Answer:

1. Gain of $12,000 on sale of some equipment from one of the gas stations that Bakko still owns at 12/31/Year 4.  - <u>Part of income from continuing operations.</u>

The gas station is still owned by Bakko so the gain received will form part of income from continuing operation.

2. Bakko receives $5,000 for a fuel contract that will begin in Year 5.  - <u>Not part of net income for Year 4</u>

As per the Revenue Recognition principle of Accounting, revenue is only to be recorded when earned which means that this revenue will be in the Year 5 income.

3. Bakko has $100,000 gain on the sale of the gas stations on May 1, Year 4.  - <u>As a discontinued operation.</u>

The gas station has been sold and so is a discontinued operation.

4. Operating results through April 30,Year 4 for the gas stations that were sold.  -<u> As a discontinued operation.</u>

The gas station has been sold and so is a discontinued operation. Will be reported in the Income statement as such.

5. Bakko has a $20,000 loss on the sale of the donut stores on October 1. - <u>As a discontinued operation. </u>

The donut store was sold and is no longer a part of Bakko so is a discontinued operation.

6 0
3 years ago
Imitability of a resource can occur through _?
stich3 [128]

Answer:

economic depletion

Explanation:

4 0
3 years ago
Read 2 more answers
The account balances of Wilson Towing Service at June 30, 2016, follow:Equipment $12,950Office supplies 1,000Notes payable 4,500
andre [41]

Answer:

Wilson Towing Service

Income Statement

For the month ending June 30, 2016

Service revenue        $12,500

Salaries expense      ($2,500)

<u>Rent expense               ($500)</u>

Operating profit         $9,500

The income statement tells us how much profit/loss did a business make during a certain period of time. In this case, the operating profit was $9,500. In order to calculate net income we would need to subtract taxes but we are not given the tax rate or the taxes due.

8 0
2 years ago
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