Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

question 8 and 9 Question 8 (1 point) During 20x1, its first year of operation, John's Scent Shoppe has cash sales of $101,000, as well

question 8 and 9 image text in transcribed
Question 8 (1 point) During 20x1, its first year of operation, John's Scent Shoppe has cash sales of $101,000, as well as account sales of $53,000. Of the cash sales. $14,000 represents payments for goods that will be delivered during the following year. At December 31, 20x1, $18,000 of the accounts receivable remain uncollected. John identified $1,500 of the accounts that he considers will be uncollectible. By what amount will the 20x1 net business income of John's Scent Shoppe be increased by the preceding information? Enter your answer as a whole number without commas or dollar signs. Your Answer: Answer Question 9 (1 point) Joan's Consulting keeps books on a cash basis. During the first year of operation, the busines has cash sales of $74,000. At the end of the year, an additional $27,000 of revenues was receivable. Of this amount 2,000 was for services that will be delivered in the following year. Joan identifies that 650 of the end of the year receivable amounts will be uncollectible. What is the business income for Joan's consulting for the year. Enter your answer in whole dollars without commas or dollar signs. Your

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

blur-text-image

Step: 3

blur-text-image

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

Auditing And Assurance Services

Authors: William MessierSteven Glover

7th Edition

0073527084, 9780073527086

More Books

Students also viewed these Accounting questions

Question

Understand the post-crisis debate on HRM and pedagogy

Answered: 1 week ago