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3 years ago

20 POINTS please answer quick!

Business

1 answer:

Montano1993 [528]3 years ago

6 0

Answer:

hyejh466u35j736

Explanation:

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Carillo Industries collected $108,000 from customers in 2017. Of the amount collected, $25,000 was for services performed in 201

Elis [28]

Answer and Explanation:

The computation is shown below;

But before reaching to the final answers, first do the following calculations

Cash collected $108000

Add Services performed in 2017(not collected) $36000

less Services performed in 2016(collected in 2017) $25000

Revenue for 2017 $119,000

Cash paid in 2017 $72,000

Add Expense incurred not yet paid for 2017 $42000

Less Expense paid for 2016 -$30000

Expense for 2016 $84000

Now

a. Cash basis

Revenue $108000

Less Expenses -$72,000

Net income $36000

b. Accrual basis

Revenue for 2017 $119,000

Less Expenses for 2017 $84,000

Net income $35,000

8 0

3 years ago

Bellswood Jewelers uses an ID card scanner and six-digit code to allow entry into their jewelry vault. The six-digit code is the

erastova [34]

Answer:

Violate Establishment of responsibility

Explanation:

Establishment of responsibility is an characteristic of control such as internal related methods,measures adopted within an organization to safeguard assets and enhance the reliability of accountability, increase efficiency of operations,etc and which is used for assigning of responsibility to an individuals i.e when only ONE person is responsible for a given task.

Bellswood Jewelers makes used of the principle of establishment of responsibility in it operations.

The salesperson who sees another salesperson’s ID card lying unattended in the break room, and then make uses of the card to enter the vault and steal jewelry worth $36,840 had violated the establishment of responsibility of Bellswood

7 0

3 years ago

Which of the following is a good marketing tactic for reaching out to cold prospects?

timama [110]

Answer:

A good marketing tactic for reaching cold prospects is Advertising

Explanation:

A cold prospect is a qualified potential customer that has little or no knowledge about your goods and service or about your company. to make them know about you can reach them through target advertising because you don't have their personal contacts yet to do them a personalized email or calls.

5 0

3 years ago

Read 2 more answers

Berkshire Inc. uses a periodic inventory system. At the end of 2020, it missed counting some inventory items, resulting in an in

grandymaker [24]

Answer:

Assets understated by $660,000, liabilities understated by $198,000, and shareholders' equity understated by $462,000

Explanation:

Calculation to determine the effect of this error on Berkshire's December 31, 2020 balance sheet

BERKSHIRE'S December 31, 2020 balance sheet

Assets=$660,000 Understated

Liabilities=$198,000 Understated

Shareholders' equity = $462,000 Understated

($660,000-$198,000)

Therefore the effect of this error on Berkshire's December 31, 2020 balance sheet will be:

Assets understated by $660,000, Liabilities understated by $198,000, and Shareholders' equity understated by $462,000

7 0

3 years ago

Racket Corporation and Laocoon Corporation create Raccoon Corporation. Racket transfers $600,000 in assets for all of Raccoon's

jonny [76]

Answer:

Type A reorganization

Explanation:

Type A reorganizations are known as statutory mergers or consolidations. This transaction involves 2 corporations, but one of them (Racket) will absorb the other one (Laocoon).

In this case, Mia doesn't have to recognize any loss or gain resulting from this merger, but Carlos has to recognize a gain equal to the remaining assets that were distributed ($300,000).

3 0

3 years ago