Cash receipts versus revenues. During the month of April, Riley Co. had cash receipts from customers of
Question:
Required:
a. Calculate the revenues for Riley Co. for April.
b. Explain why cash receipts from customers can be different from revenues.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 58% (12 reviews)
a Revenues 624000 Expenses 168000 Net income Revenues 792000 b Cash receipts ...View the full answer
Answered By
Susan Juma
I'm available and reachable 24/7. I have high experience in helping students with their assignments, proposals, and dissertations. Most importantly, I'm a professional accountant and I can handle all kinds of accounting and finance problems.
4.40+
15+ Reviews
45+ Question Solved
Related Book For
Accounting What the Numbers Mean
ISBN: 978-0078025297
10th edition
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele
Question Posted:
Students also viewed these Accounting questions
-
The following transactions occurred during the month of April for Nelson Company: a. Purchased materials costing $4,610 on account. b. Requisitioned materials totaling $4,800 for use in production,...
-
The following transactions occurred during the month of April for Olakala Company: a. Purchased materials costing $3,000 on account. b. Requisitioned materials totalling $1,700 for use in production:...
-
Why is it necessary to convert accrual basis net income to cash basis income when preparing a statement of cash flows?
-
I have this data frame with the years and values, can you make a model to predict the value of meats,fish,fruits and vegetables and grains? based on the current values of the table and historical...
-
Maintenance money for a new building has been sought. Mr. Kendall would like to make a donation to cover all future expected maintenance costs for the building. These maintenance costs are expected...
-
Draw structure section AA on Fig. G-9. Determine each apparent dip, using either the alignment diagram in Fig. 1.7 or trigonometry. Fig. 1.7 Fig. G-9 True dip 70 60 40 30 20% 10 0 Apparent dip 89 85...
-
In Example 13-1, we assumed we were going to use all available solvent. There are other alternatives. Determine if the following alternatives are capable of producing outlet water of desired acetic...
-
Tippah Antiques uses the periodic inventory system to account for its inventory transactions. The following account titles and balances were drawn from Tippahs records for the year 2016: beginning...
-
State and define (including code sections) the three types of taxpayer penalties for filing late and paying late
-
You're the vice president of a large company that makes outdoorfurniture for decks, patios, and pools. Each product line and the firm itself have grown substantially in recent years. Unfortunately,...
-
Record transactions and adjustments. Enter the following column headings across the top of a sheet of paper: Enter the transaction/adjustment letter in the first column and show the effect, if any,...
-
Notes payable-interest accrual and payment. Proco had an account payable of $84,000 due to Shirmoo, Inc., one of its suppliers. The amount was due to be paid on January 31. Proco did not have enough...
-
Solomon is taking out a $15,320, two-year loan with an APR of 10.29%. What will be the finance charge for this loan to the nearest dollar?
-
Suppose that to boost the production of rice, the Vietnamese government provides a subsidy of VND1,000/kg of rice to farmers. Also assume the rice market in Vietnam is perfectly competitive and...
-
An investor and The are given Year 2009 2010 2011 2012 2013 2014 invested 65% of hu Stuck B 35% in return Retur. / on 0.52 data for both stock 4 and stock B below: Stuck A Weight = 0.65 5.21 7.2-3...
-
Question 2 (a) Probability Rate of Return Rate of Return portfolio P portfolio Q 0.3 0.4 0.3 -5 12 25 (i) Calculate the risk and return for Portfolio P and Q. 35 22 -10 (ii) Calculate the covariance...
-
Telework opportunities are increasing in health care as they are in other employment sectors. Describe how members of a team can support each other best when they work on different schedules, in time...
-
Prepare an income statement for the year through gross profit. The following information is available for Sheridan Company at December 31, 2022: 1. Inventory balance Beginning of Year End of Year...
-
a. Business messages should be concise, correct, and clear. b. Business messages should be concise, correct, and written clearly. Choose the sentence that is expressed more effectively.
-
For liquid water the isothermal compressibility is given by; where r and b are functions of temperature only. If 1 kg of water is compressed isothermally and reversibly from I to 500 bar at 60(C. how...
-
Northwestern Ltd. (NW) acquires the only class of stock of Southeastern Ltd. (SE) from the latter's shareholders. Which of the following independent transactions qualify as a Type B reorganization?...
-
Match each of the following cost items with the value chain business function where you would expect the cost to beincurred: Business Function Cost Item Answer Research and development b. Design C....
-
Match each of the following cost items with the value chain business function where you would expect the cost to beincurred: Business Function a. Research and development b. Design C. Production d....
-
For each of the following costs, check the columns that most likely apply (both variable and fixed might apply for somecosts). Product Costs Direct Indirect Period Variable Fixed Wages of...
-
Barry Company is considering a project that has the following cash flow and WACC data. What is the project's NPV ? Note that a project's projected NPV can be negative, in which case it will be...
-
Explain how profitability is measured in the property and casualty insurance industry.
-
Question 4. Beverly Company will pay a dividend of $2 per share next year, which will continue to grow at a constant rate forever. Current stock price is $20 and the required rate of return is 15...
Study smarter with the SolutionInn App