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
KatRina [158]
2 years ago
12

Outback Corp. recorded sales of $1,300,000 in 2010, in addition the company's accounts receivable balance grew from $120,000 at

the beginning of 2010 to $165,000 at the end of 2010. How much cash did Outback collect from customers in 2010
Business
1 answer:
klemol [59]2 years ago
8 0

Answer:

$1,255,000

Explanation:

The increase in accounts receivable is the portion of the current year sales revenue that has not been received in cash, hence, the cash collected from customers in the year 2010 is simply the sales adjusted for the impact of accounts receivable as shown below:

cash collection=sales revenue+beginning accounts receivable-ending accounts receivable

sales revenue=$1,300,000

beginning accounts receivable=$120,000

closing accounts receivable=$165,000

cash collection=$1,300,000+$120,000-$165,000

cash collection=$1,255,000

You might be interested in
oronado Company has the following account balances: Purchases $95600 Sales Returns and Allowances 12600 Purchase Discounts 8300
Vladimir79 [104]

The cost of goods purchased for the period is $90,000 having the required account balances .

<h3>Account balances </h3>

An account balance is the amount of money present in a financial repository, such as a savings or checking account, at any given moment. The account balance is always the net amount after factoring in all debits and credits. An account balance that falls below zero represents a net debt—for example, when there is an overdraft on a checking account. For financial accounts that have recurring bills, such as an electric bill or a mortgage, an account balance may also reflect an amount owed.

Learn more about account balance here :

brainly.com/question/23271078

#SPJ4

3 0
1 year ago
Mary Matthews made $950 during a biweekly pay period only social security (fully taxable) and federal income taxes attach to her
____ [38]

Answer:

The correct answer to the following question will be "$831".

Explanation:

  • Mary Matthews is a married woman, however, her gross salary is $950 per two weeks, as well as the compensation amount, is 2. The year 2018 married bi-weekly wage category table would be used to determine the sum to be withheld underneath the framework of wage class.
  • The applicable limit for $950 throughout the list is between $945 or $965 as well as $19 seems to be the amount of funding tax must keep for 2 allowances.

So that the compensation would be:

The sum is taken by her to their residence = Gross Salary - Income Tax deferred - Contribution towards 401k

= $950 - $19 - $100

= $831

5 0
3 years ago
Which buyer-readiness stage are consumers in when they are feeling favorable about the
nordsb [41]

Answer:

The correct answer is letter "E": liking.

Explanation:

The six (6) buyer-readiness stages are <em>awareness, knowledge, liking, preference, conviction, </em>and<em> purchase</em>. In the liking stage, the consumer feels positive about the goods or services. It is caused because of many factors such as advertising which adds value to the product making it seem inviting and reachable.

7 0
3 years ago
Assume that Jack, Hal, and Sophia enter into a valid contract for the sale of the restaurant and for a covenant not to compete.
Iteru [2.4K]

Answer:

a condition subsequent.

Explanation:

Based on the scenario being described within the question it can be said that this clause is known as a condition subsequent. This refers to an event or state of affairs that causes something else to come to a close, usually being an individuals legal rights or duties that come to an end. Which in this case if the condition is met in this scenario then it would cause Jack to retrieve the right to sell the frozen food himself.

8 0
2 years ago
Consider two​ firms, Firm X and Firm​ Y, that have identical assets that generate identical cash flows. Firm Y is an a minus equ
ddd [48]

Answer:

$26.52.

Explanation:

We use the MM Proposition I formula as follows:

VL = VU + (Tc * D) ....................................................... (1)

Where;

VL = Value of a levered firm, i.e. X = ?

VU = Value of an unlevered firm, i.e. Y = $24

Tc = Tax rate = 21%

D = value of debt = $12

Note: The US 2020 corporate tax rate is used as the tax rate since no tax rate is given in the question.

Substituting the values into equation (1), we have:

VL = $24 + (21% * $12) = $24 + $2.52 = $26.52.

Therefore, According to MM Proposition I, the stock price for Firm X is closest to $26.52.

7 0
3 years ago
Other questions:
  • Which of the following would an economist most likely classify as a need?. A.gasoline for a florist's delivery truck.. B. a coll
    13·2 answers
  • Bertucci Corporation makes three products that use the current constraint which is a particular type of machine. Data concerning
    11·1 answer
  • The Marchetti Soup Company entered into the following transactions during the month of June:
    11·1 answer
  • "Google employs the practice of team building and rewards ideas that are outside the box. They are likely to have ________ compa
    8·1 answer
  • The controlling account for the cost ledger is Group of answer choices Cost of Goods Sold Materials Finished Goods Work in Proce
    9·1 answer
  • If interest rates are declining, which of the following would be expected? (A) Discount bonds will appreciate more than premium
    11·1 answer
  • Parker Company’s balance reflected Estimated Warranty Payable of $2,000 credit at the end of 2018, the current year. During 2019
    6·1 answer
  • Drafi Arts Corp. makes and sells original handicraft products. The management of the company has been successfully using a niche
    13·1 answer
  • FREE BRAINLIEST FIRST RESPOND
    8·2 answers
  • Real per capita gross domestic product (GDP) is higher in the United States than in Bangladesh. Based on that, we could predict
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!