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3 years ago

A cash payment received from a customer for a product purchased on account would be recorded as...

1 answer:

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A cash payment received from a customer for a product purchased on account would be recorded as DEBIT TO CASH AND CREDIT TO ACCOUNT RECEIVABLE. Cash is debited because cash has been received by the company and it has to be debited to the asset account of cash. The account receivable is credited to record the fact that money has been received.

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Kennedy, Inc. reported the following data:

Degger [83]

Answer:

The cash flows from operating activities section of the statement of cash flows using the indirect method is $172,475.

Explanation:

Kennedy, Inc.

Statement of cash flows (extract)

Net income $179,562

Add: Depreciation expense 15,511

Loss on disposal of equipment 11,046

Less: Gain on sale of building (21,801)

Increase in accounts receivable (8,734)

Decrease in accounts payable (3,109)

Cash flows from operating activities $172,475

4 0

3 years ago

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

salantis [7]

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 ($290)

Gross Profit $535

Other Expenses ($425)

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 ($290)

Closing Cash balance $360

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3 years ago

Although it is not known whether you have to buy 1, 10, or 100 lottery tickets to get a winning ticket, it is highly probable th

Effectus [21]

Answer:

variable-ratio

Explanation:

According to my research on studies conducted by various psychologists, I can say that based on the information provided within the question the type of schedule being used is called variable-ratio schedule. This refers to when a response is reinforced after a completely random amount of responses. Since positive results from gambling are completely random, this type of scheduling is mostly used in these situations.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

5 0

2 years ago

A cost estimation tool which is used to allocate money into an organization’s budget is known as a _____ estimate. a. ballpark b

xenn [34]

Answer:

B. Budgetary.

Explanation:

They are used to do that because the range of variance could be from -10% to +20%.

Although this, it is not accurate enough to provide a solid basis for a firm commitment because it only represents an approximation of what is need to be done.

I hope this answer helps you.

5 0

3 years ago

Read 2 more answers

In California, Arthur wants to personally place business with RTS Insurance Company who is a nonadmitted carrier. The only way A

Cloud [144]

Answer

Professional ethics and code of conduct regulation

Explanation:

California Professional code of conduct for insurance agent does not permit unethical placement, as the regulator view such as fraudulent practices.

7 0

3 years ago