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grandymaker [24]
2 years ago
13

At December 1, 2014, Cursive Company's accounts receivable balance was $1,200. During December, Cursive had credit revenues of $

4,800 and collected accounts receivable of $4,000. At December 31, 2014, the accounts receivable balance is:___________
a) $400 debit.
b) $400 credit.
c) $2,000 debit.
d) $2,000 credit.
Business
1 answer:
meriva2 years ago
6 0

Answer:

The correct answer is C

Explanation:

Accounts receivable is the term of accounting, which is defined as the legally enforceable claims for the payment that is held through a business for the goods supplied as well as service rendered that the client have ordered but not paid.

Computing the balance of accounts receivable as:

Accounts receivable balance = Accounts receivable balance as on December 1, 2014 + (Credit revenue - Received revenue)

where

Accounts receivable balance as on December 1, 2014 is $1,200

Credit revenue is $4,800

Received revenue is $4,000

So, putting the values above:

Accounts receivable balance = $1,200 + ($4,800 - $4,000)

Accounts receivable balance = $1,200 + $800

Accounts receivable balance = $2,000

It is positive, so, it is debit balance

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$6450

Explanation:

Given that

Monthly gross income = 3500

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Annual cost recovery expenses = 3000

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Annual operating expense = 1100 × 12

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Thus,

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Tax liability = tax rate × taxable income

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1 year ago
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For a Marketing course: What skills from this course would you use to create a three-paragraph promotional tool that explains th
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After taking a Marketing Course, I should be armed with the following promotional skills:

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2 years ago
Gilbert's expects its September sales to be 20% higher than its August sales of $150,000. Manufacturing costs were $100,000 in A
sveticcg [70]

Answer:

$61,500.

Explanation:

Given that,

Beginning cash balance on September 1 = $7,500

Cash receipts from credit sales made in August:

= $150,000 × 70%

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Cash receipts from credit sales made in September:

= ($150,000 × 1.20) × 30%

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Cash disbursements from purchases made in August:

= $100,000 × 75%

= $75,000

Cash disbursements from purchases made in September:

= $120,000 × 25%

= $30,000

Ending cash balance September 30:

= Beginning cash balance + Cash receipts from credit sales made in August + Cash receipts from credit sales made in September - Cash disbursements from purchases made in August - Cash disbursements from purchases made in September

= $7,500  + $105,000  + $54,000  - $75,000  -  $30,000

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6 0
2 years ago
At a sales volume of 40,000 units, Lonnie Company's total fixed costs are $40,000 and total variable costs are $60,000. The rele
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$115,000

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Calculation for the total expected cost

First step is to find the variable cost per unit

Variable costs per unit= 60,000/40,000

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Total variable costs =50,000 units × 1.50 per units

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Last step is add the total fixed costs of the amount of $40,000 to the Total variable costs of $75,000

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