This shift in demand was likely the result of the improved technology of MP3 players.
Improved technology brought improved quality of MP3 players, which meant that more people were interested in buying them. MP3 players are far more convenient than CD players, because they are smaller, more easily portable, and overall better.
Answer:
The total income tax expense for 2019 =152.000. Is not available in the options given by the exercise.
Explanation:
- Tax on insurance expense deductible for accounting purposes in 2019= 70000*40%=28.000
- Income tax expense for 2019 = 180.000-28.000=152.000
Answer:
A) The account receivables turnover is 15, and B) the number of days sales in receivables is 24.3 days.
Explanation:
A) FORMULA FOR ACCOUNT RECEIVABLES TURNOVER =
NET SALES / AVERAGE ACCOUNT RECEIVABLES
Given information -
Net sales = $1500,000
Average account receivables = $100,000
Putting the values in formula -
= $1500,000 / $100,000
= 15
B) FORMULA FOR NUMBER OF DAYS SALES IN RECEIVABLES =
365 / ACCOUNT RECEIVABLES TURNOVER
= 365 / 15
= 24.3 DAYS
It is important so no one in the agreement screws the other person over
Answer: B. There is $19,000 available for additional investments.
Explanation:
Cash Receipts both Estimated and available
= Beginning balance + budget receipts
= 6,000 + 81,000
= $87,000
Cash payments
= 44,000 + 34,000 + 15,000
= $93,000
Additional financing required = Cash receipts - Cash payment - minimum cash balance
= 87,000 - 93,000 - 13,000
= -$19,000
