If sales on an accrual basis are S500.000 and accounts receivable increased by S30,000, the cash received

Question:

If sales on an accrual basis are S500.000 and accounts receivable increased by S30,000, the cash received from customers would be

a. 5500,000.

b. $470,000.

c. 5530,000.

d. Cannot be determined. pg74

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting A Business Perspective

ISBN: 9780075615859

7th Edition

Authors: Roger H. Hermanson, James Don Edwards, Michael W. Maher

See More Books

Question Posted: Jul 01, 2024 02:16 AM

See More Questions

What is the relevant cash element above the significant policy pls highlight exactly SIGNIFICANT ACCOUNTING POLICIES Basis of Consolidation Business Combinations The consolidated financial statements...
IFRS Financial Statements Position Paper The purpose of this assignment is to increase your knowledge of IFRS. You will review a PowerPoint presentation and type responses to the questions asked...
Help Needed! I need someone to please go over my workbook for me. I am doing a 10K on GAP Inc. and have to do the workbook. Need to double check my figures please. Kindly find attach a copy of the...
Pretty much any real object takes up space. This can cause confusion when asking, for instance, what is the r position of a car? Do we mean the front end of the car? The back end? Somewhere in...
Readers, Inc., an online bookstore, had the following account balances at year- end: Sales Revenue of $ 420,000; Cost of Goods Sold of $ 240,000; Salary Expense of $ 120,000; Insurance Expense of $...
What evidence is there that International Financial Reporting Standards are becoming widely accepted around the world? Do you believe that worldwide convergence of accounting standards will end...
Assume that the commodity prices in the optimization problem (4.34) with (4.36) are p 1 = 1 and p 2 = 2. Show that in the optimum u(c * 1 ,c * 2 ) =w/8 holds (4.34) (4.36)
During your examination of the financial statements of Martin Mfg. Co., a new client, for the year ended March 31, 20X0, you note the following entry in the general journal dated March 31, 20X0: Your...
The trial balance of ABC Corporation shows a balance in payroll of $280,000. The last pay was December 22, 2020 and all employees were paid up to December 15th on this date. Employees are not paid...
Assume cost of goods sold on an accrual basis is 5300,000, accounts payable increased by 520,000, and inventory increased by 550,000. Cash paid for merchandise is: ph58 a. 5370,000. b. 5230,000. c....
Investing activities include all of the following except: a. Payment of debt. b. Collection of loans. c. Making of loans. d. Sale of available-for-sale and held-to-maturity securities. pg85
An item you need for a project has a daily lease cost of $200. If you decide to purchase the item, the investment cost is $6,000 and the daily cost is $100. After how many days will the lease cost be...
Vaporization of mixtures of hexane and octane. Using the T-x-y diagram (Figure 1) on the next page, determine the temperature, amounts, and compositions of the vapor and liquid phases at 1 atm for...
what should p&g do to replace lafley when he retires a second time? what actions should they take to prepare for the succession?
What do these terms mean? What would be the currencies (one at a time) from two total UN Member States (other than the EURO, USD, JPY, GBP, or CHF). What would be the foreign currencies and how they...
How do social identity processes, such as categorization, identification, and comparison, influence team cohesion and performance within complex organizational environments ?
How do calculate sales forecast and expense forecast for several years
The bookkeeper for the Olson Company prepared the following income statement and retained earnings statement for the year ended December 31, 2007: The preceding account balances are correct but have...
Assume that a trial balance is prepared with an account balance of $21,360 listed as $21,630 and an account balance of $1,500 listed as $15,000. Identify the transposition and the slide.
Deacon Company is a merchandising company that is preparing a budget for the three - month period ended June 3 0 th . The following information is available Deacon Company Balance Sheet March 3 1...
Mango Company applies overhead based on direct labor costs. For the current year, Mango Company estimated total overhead costs to be $460,000, and direct labor costs to be $230,000. Actual overhead...
Which of the following do we expect to be the horizon growth rate for a company (long term growth rate- say 30-50 years)? A) Inflation B) Industry Average C) Zero D) Market Beta

If sales on an accrual basis are S500.000 and accounts receivable increased by S30,000, the cash received

Question:

Step by Step Answer:

Accounting A Business Perspective

Students also viewed these Business questions