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Evgen [1.6K]
3 years ago
12

What is an organized activity that provides goods and services to others at a

Business
1 answer:
Radda [10]3 years ago
4 0

Answer: C

Explanation:

A business is any activity that provides goods or services to consumers for the purpose of making a profit.

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Carter Corporation made sales of $ 825 million during 2018. Of this​ amount, Carter collected cash for $ 710 million. The​ compa
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Answer:

Part (a) The net income of carter is $115 million.

Part (b) The closing cash balance at the end of year is $360.

Explanation:

Part (a) Net Income Computation:

Sales                                     $825

Cost of goods sold             <u>(</u><u>$290</u><u>)</u>

Gross Profit                          $535

Other Expenses                  <u>(</u><u>$425</u><u>)</u>

Net income                          $115 Million

Part (b) The cash balance of  Carter is not dependent on non cash flows. So the cash transactions would be considered here for cash balance computation.

Opening Cash position               $290

Collection from Sales                  $710

Inventory Invoices paid              ($350)

For  Everything                           <u>($290)</u>

Closing Cash balance                 $360

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