What is the cash receipts from customers? Milea Incorporated experienced the following events in Year 1, its
Fantastic news! We've Found the answer you've been seeking!
Question:
What is the cash receipts from customers?
Transcribed Image Text:
Milea Incorporated experienced the following events in Year 1, its first year of operations: 1. Received $12,500 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,150. 4. Collected $35,150 of the accounts receivable. 5. Recorded $8,850 of accrued salaries at the end of the year. 6. Paid a $1,400 cash dividend to the stockholders. Milea Incorporated experienced the following events in Year 1, its first year of operations: 1. Received $12,500 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,150. 4. Collected $35,150 of the accounts receivable. 5. Recorded $8,850 of accrued salaries at the end of the year. 6. Paid a $1,400 cash dividend to the stockholders.
Expert Answer:
Answer rating: 100% (QA)
In the given events for Year 1 of Milea Incorporated the cash receipts from customers can be calcula... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
In the research phase for the milk marketing campaign, the firm uncovered research into consumer behavior highlighted in the Marketing Management article "Got Advertising That Works?" Acting on that...
-
start a male underwear brand 1. name the underwear brand and tagline 2. what are your brand colors? 3. how would you sell your underwear? 4. ways to promote your underwear brand? 5. pricing? high-end...
-
male underwear business aggressive content marketing examples of digital content to promote a male underwear business startup on 1. instagram 2. youtube 3. tiktok 4. twitter 5. facebook
-
You have this information r*=2.5%, inflation premium =3%, default risk premium=3.5%, liquidity premium =2% and maturity risk premium =1.5%.What is the treasury bill rate?
-
Nome Company sponsors a defined benefit plan covering all employees. Benefits are based on years of service and compensation levels at the time of retirement. Nome has a September 30 fiscal year-end....
-
How do you determine the purpose and context of a memorandum, and what key elements should be included to ensure the memo effectively communicates its intended message?
-
Repeat the azeotrope formation case study for cyclic (naphthenic) and cyclic (aromatic) compounds that form azeotropes with ethanol. Also, repeat the azeotrope formation case study to identify all...
-
On May 31, 2012, Laban Company had a cash balance per books of $5,681.50. The bank statement from Citizens Bank on that date showed a balance of $7,964.60. A comparison of the statement with the Cash...
-
What would the pressure at the bottom of the tank in the previous question be if it were in an elevator accelerating upward at 2-m/s^2?
-
Write a symbolic microprogram routine for the ISZ (increment and skip if zero) instruction defined in Chap. 5 (Table 5-4). Use the microinstruction format of Sec. 7-3. Note that DR = 0 status...
-
7) You are considering the purchase of ABC Co. You expect that ABC Co. can generate cash flows of $34,000, $45,000, and $56,000 over the next three years, respectively. After that time, the business...
-
Consider the following formula: =VLOOKUP(C6, F7:H9, 3) What are the column number for output values, look up value, and table array? 3, TRUE, F7:H9 C, C6, F7:H9 6, 3, F7:H9 O F7:H9, 3, C6 3, C6, F7:H9
-
How does diversification and acquisition create value for a company and how can each destroy value for a company? explain
-
What is the attribution process in terms of organizational behaviour?
-
Prometheus possesses some secret knowledge that Zeus wants to know, but which Prometheus refuses to tell him. What does Prometheus know? He has foreknowledge about the disaster that is about to...
-
Discuss the importance of recruitment and selection to SHRM. Please discuss recruitment techniques that public and nonprofit organizations use.
-
Holiday Gifts signs a three-month note payable to help finance increases in inventory for the Christmas shopping season. The note is signed on November 1 in the amount of $75000 with annual interest...
-
What are the four types of poultry production systems? Explain each type.
-
True or false: the column space of a matrix equals the row space of its transpose.
-
Which of these subsets of the space of real-valued functions of one real variable is linearly dependent and which is linearly independent? (We have abbreviated some constant functions, e.g., in the...
-
Check that the isomorphism given between S and Rk is a linear map.
-
For the composite properties and environmental conditions described in Examples 3.6, 4.7, and 5.3, determine the hygrothermally degraded values of the longitudinal and transverse tensile strengths....
-
The filament-wound E-glass/epoxy pressure vessel described in Example 4.4 is to be used in a hot-wet environment with temperature \(T=100^{\circ} \mathrm{F}\) \(\left(38^{\circ} \mathrm{C} ight)\)...
-
A carbon/epoxy lamina is clamped between rigid plates in a mold (Figure 5.17), while curing at a temperature of \(125^{\circ} \mathrm{C}\). After curing, the lamina/mold assembly (still clamped...
Study smarter with the SolutionInn App