Answer:
The answer is $801,900
Explanation:
Cash received from customers is a line item under operating activities in the cash flow. It is the total amount of money collected from customers for the period.
Cash received from customers equals sales plus decrease in accounts receivable.
Sales = $753,500
Decrease in accounts receivable = $48,400.
Therefore, Cash received from customers = $753,500 + $48,400
$801,900
The answer is D. Partnerships are liable to boundless obligation, which implies that each of the partners shares the risk and budgetary dangers of the business. Which can be off-putting for a few people. This can be countered by the arrangement of a restricted obligation organization, which profits by the upsides of constrained risk allowed to restricted organizations, while as yet exploiting the adaptability of the association show.
Answer:
1.53 Million
Explanation:
The reason is that the Environment Protection Agency is a qualified organization and donations made to qualified organization are allowable expense under the US tax rules, so the gross income will include a net amount which is the actual amount left for Hal Gore and which is $1.53 million ($2.1 m - 0.57).
Answer:
1. 73 %
2. 27 %
3. $60,000
4. Ways to increase projected operating income without increasing total sales revenue :
- Reduce the variable costs per unit
- Reduce fixed overheads
Explanation:
Contribution Margin Ratio = Contribution / Sales × 100
Where,
Contribution = Sales - Variable Costs
= $88,000 - $23,760
= $64,240
Then,
Contribution Margin Ratio = $64,240/ $88,000 × 100
= 73 %
Variable Cost Ratio = Variable Cost / Sales × 100
= $23,760 / $88,000 × 100
= 27 %
Break-even sales revenue = Fixed Costs ÷ Contribution Margin Ratio
= $43,800 ÷ 0.73
= $60,000
<u>Ways to increase projected operating income without increasing total sales revenue :</u>
- Reduce the variable costs per unit
- Reduce fixed overheads
Answer and Explanation:
The journal entry to record the sales transaction is given below:
On April 10
Cash Dr $25,725
To Sales revenue $24,500
To Sales tax payable $1,225
(Being the sale is recorded)
Here cash is debited as it increased the assets and revenue & sales tax payable is credited as it increased the revenue & liabilities
