Answer:
Total Net Sales = $1475000
Explanation:
Average Accounts Receivables = (250000 + 300000) / 2
Average Accounts Receivables = 275000
Accounts Receivables Turnover = Credit sales / Average Accounts Receivables
So,
5 = Credit Sales / 275000
5 * 275000 = Credit Sales
Credit Sales = $1375000
Total Sales = Credit Sales + Cash Sales
Total Sales = 1375000 + 100000 = $1475000
Answer:
Expenses that are stable and do not change with the quantity of products that is produced and sold
Explanation:
Fixed cost refers to cost that do not change with the level of output. They are otherwise known as overheads or indirect costs and are expenses that are not dependent on the out level of produce by the business.
In addition, fixed cost are also cost that has to be incurred by the business independent of business activities.
Examples of fixed costs are rent, cost of business , loan payments, insurance premiums, salaries etc. All these do not vary with the level or number of units produced or sold.
Answer:
the cost to repair your vehicle, as well as all damage to other vehicles involved in the accident.
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implies contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, executory contract, etc.
A foreseeable damage can be defined as a any form of damage that the parties to a contract knew or took note of at the time when they were signing an agreement to the contract. Thus, it is the ability of an individual to reasonably anticipate the likelihood of damage or potential injury in a given circumstance such as an accident.
This ultimately implies that, foreseeable damages involves the ability of a reasonable individual to anticipate the potential results of his or her actions such as damage or injury to another person due to the refusal to repair a faulty car.
An example of foreseeable damages from a faulty repair of your car that led to an accident would be the cost to repair your vehicle, payment of hospital bill for the injured, including the damage to other vehicles that were involved in the car accident.
Answer:
A business will only be legal and not against any existing or foreseeable government regulation if there are documents proving that the business is legally registered, with the type of business and other details fully disclosed by the promoters during the formation and documentation stages.
Explanation:
The main document for incorporating a company in the United States is the Articles of Incorporation. The document specifies the primary purpose of the business, its location ( and state of incorporation), and the shareholdings.
Answer:
True
Explanation:
The net cash flow for the year can be calculated using the following equation:
net cash flow = net income + accounts payable - accounts receivable
net cash flow = $29,500 + $5,400 - $2,500 = $32,400
We have to subtract accounts payable since they were included in the net income but the cash has not been received yet.
