Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Mar 31, 2022

Pacific Whale Watchers reported the following information for 2016 and 2017: Accounts recivable, 30 June 2016 $250 000 Accounts recivable, 30 June 2017 $175

Pacific Whale Watchers reported the following information for 2016 and 2017: Accounts recivable, 30 June 2016 $250 000 Accounts recivable, 30 June 2017 $175 000 Sales for financial year ended 30/6/17 $650 000 (S500 000 of which are credit sales) How much cash was received from customers during 2017? O $1 075 000 O 5725 000 $425 000 O $575 000

Step by Step Solution

★★★★★

3.43 Rating (156 Votes )

There are 3 Steps involved in it

Step: 1

Answer is 575000 Answer is derived b... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Earl K. Stice, James D. Stice

19th edition

1133957919, 978-1285632988, 1285632982, 978-0357691229, 978-1133957911

More Books

Students also viewed these Accounting questions

Question

★★★★★

The company reported the following information for the year: Compute (1) inventory turnover and (2) number of days' sales in inventory. Beginning accounts receivable Salw Ending accounts receivable...

Answered: 1 week ago

Question

★★★★★

The following information for 2016 relates to Sparrow Corporation, a calendar year, accrual method taxpayer. Net income per books (after-tax) ...........................................................

Answered: 1 week ago

Question

★★★★★

The Cheesecake Factory Incorporated reported the following information for the 2006 fiscal year ended January 2, 2007. Amounts are in thousands of dollars. Other information Additional investments by...

Answered: 1 week ago

Question

★★★★★

What are the three workflows in the revised SELECT Perspective (Apperly et al., 2003)?

Answered: 1 week ago

Question

★★★★★

Examine the data below showing the weights (in pounds) of randomly selected checked bags for an airline's fights on the same day. (a) At = .05, is the mean weight of an international bag greater?...

Answered: 1 week ago

Question

★★★★★

Outline the roles played by HR professionals in the field of occupational pensions

Answered: 1 week ago

Question

★★★★★

1. Use examples and analogies to relate new material to something you care about and understand well, such as sports, hobbies, or films.

Answered: 1 week ago

Question

★★★★★

The Long-Term Debt section of Rodman Companys balance sheet as of December 31, 2010, included 8% bonds payable of $300,000 less unamortized discount of $22,000. Further examination revealed that...

Answered: 1 week ago

Question

★★★★★

National League Gear has two classes of stock authorized: 4%, $20 par preferred, and $5 par value common. The following transactions affect stockholders equity during 2015, National Leagues first...

Answered: 1 week ago

Question

★★★★★

Construct for both 80% and 98% Use the following pairs of observations to construct an 80% and a 98% confidence interval for P. N NJ TOO 5 2 The 80% confidence interval is (Round to two decimal...

Answered: 1 week ago

Question

★★★★★

Four technicians are required to do four different jobs. Estimates of time to complete every job as provided by the technicians are as below: Technician Hours to Complete Job Job 1 Job 2 Job 3 Job 4...

Answered: 1 week ago

Question

★★★★★

Problem description The problem at hand relates to a waiting time management of queues in a typical bank. In a bid to improve the level of service at the tellers, a bank manager seeks to find...

Answered: 1 week ago

Question

★★★★★

What keyword can be used to create a named identifier for a memory location whose contents cannot change?

Answered: 1 week ago

Question

★★★★★

Assume that the holding cost is $2, the ordering cost is $3.50, and the order quantity is 500. What is the demand, if the Total Cost is $640?

Answered: 1 week ago

Question

★★★★★

After successfully adopting new software in your department, you take your subordinates out to lunch to show your appreciation for their hard work. According to Lewin\'s model of change, what stage...

Answered: 1 week ago

Question

★★★★★

Consider the following statement about real options: Certain real options allow companies to change capacity output in response to changing market conditions. True or False: The preceding statement...

Answered: 1 week ago

Question

★★★★★

You are a Loan Officer with an Investment Bank. Today you need to set your lending parameters. They are: LTV: 55% 10 Year T-Bill: TBD Rate Markup: 300 Basis Points Term: 30 Years Amortization: 30...

Answered: 1 week ago

Question

★★★★★

At December 31, 2014, certain accounts included in the Noncurrent Operating Assets section of Salvino Company's balance sheet had the following balances: Land . . . . . . . . . . . . . . . . . . . ....

Answered: 1 week ago

Question

★★★★★

Hillshire Brands owns the following brands: Ball Park franks, Sara Lee bakery goods, Hillshire Farm, Jimmy Dean, Kiwi shoe care products, and many other products. The following information relates to...

Answered: 1 week ago

Question

★★★★★

A CPA was engaged by Blackbird Company in 2015 to examine its books and records and to make whatever corrections are necessary. An examination of the accounts discloses the following. (a) Dividends...

Answered: 1 week ago

Question

★★★★★

A rental agreement requires the payment of $1000 at the beginning of each month. a. What single payment at the beginning of the rental year should the landlord accept instead of twelve monthly...

Answered: 1 week ago

Question

★★★★★

If RRSP contributions of $3030.02 at the end of every six months are projected to generate a plan worth $500,000 in 25 years, what nominal and effective rates of return were assumed in the forecast?

Answered: 1 week ago

Question

★★★★★

With end-of-month contributions of $251.33, a TFSA is expected to pass $100,000 in value after 15 years and 5 months. Determine the nominal and effective rates of return used in the projection.

Answered: 1 week ago

Previous Question Next Question