aquatic company is a distributor of swimming pool equipment during 20y3 aquatic reported selling and administrative expenses of 688,000. during 20y3 the balance of prepaid insurance account increased by 32,000 and the balance of accured wages payable account decreased by 26,000. Aquatic recognized 35,000 of depreciation expense in 20Y3. What were aquatic cash payments for selling and administrative expenses during 20Y3. 647,000 659,000 781,000 711,000

Q: Using Carrot Corp. What is the Average collection period for year 2?   a. 20 days b. 22.50 days c.…

A: The average collection period is calculated by dividing 360 days by the account receivable turnover…

Q: Selling and administrative expense $ 113,000 Depreciation expense   77,000 Sales   556,000 Interest…

A: An income statement is a financial statement that summarises a company's income and costs. It also…

Q: 19. Lantz Company has provided the following information: Cash sales totaled $255,000. Credit sales…

A: An operating income statement, also known as an income statement or profit and loss statement…

Q: Average assets are $2375315. Sales for the year totaled $3,000,000 and expenses totaled $ 2,950,000.…

A: Step 1: Given data :Return on Assets (ROA) is a financial ratio that indicates how efficiently a…

Q: day are ________ and the average payment period is ________.   a. 821.9; 36.5 b. 36.0; 833.3 c.…

A: The average purchases per day is the annual purchases divided by no of days in a year Average…

Q: 500,000.00 84,800.00 Stockholder's Common S Retained B

A: An income statement is a financial statement that shows a company's revenue and costs. It also shows…

Q: Need help with this question

A: Step 1: Introduction to the Cash flow:Cash flow refers to the movement of cash that is coming into…

Q: During the current year, Acme Company (a retailer) reports total selling and administrative expenses…

A: To determine the Acme Company's cash paid for selling and administrative expenses for the year,…

Q: Daily Co's s 31 Decemb ourchase of lepreciate m What is Dail

A: As per the Matching principle, all the revenue incomes & expenses of the same year should be…

Q: The Weymire Corporation provides you with the following information for the year ended 12/3120:…

A: Cash Flow A/c

Q: Refer to the following selected financial information from McCormik, LLC. Compute the company's…

A: The no.days sales uncollected is derived from the accounts receivable turnover ratio. Then the no.of…

Q: Josh Cablesource has sales for 2016 of $1,566,777. Information regarding resources for the year are…

A: Income statement is one of the financial statement which shows all incomes and all expenses of the…

Q: Jim Short's Company makes clothing for schools. Sales in 20X1 were $4,470,000. Assets were as…

A: Ratio analysis s helps to analyze the financial statements of the company. Management can make…

Q: Al Mamari Automobile Spare Parts LLC has provided following Income Statement for the year ending…

A: Operating profit ratio = Operating profit / sales = 15000/80000 = 18.75%

Q: Flyer Company has provided the following information. Cash sales, $325,000 Credit sales, $850.000…

A: Formula: Total sales = Cash sales + Credit sales. Cash and credit sales combined called as Credit…

Q: Paris Company's trial balance of profit or loss accounts for the year ended December 31, 2021…

A: Cost of goods manufactured = Cost of goods sold + ending finished goods inventory - beginning…

Q: 18. San Miguel Corp. has just ended the calendar year making a sale in the amount of P10,000 of…

A: 18. Here, Sale on credit is 10,000 Purchases cost is 7000 Profit = Sale - Purchases Profit = 10,000…

Q: Q Duty // The following balances were extracted from the stadium record for Al-Rafidain commercial…

A: PARTICULARS  DEBIT CREDIT       Cash       1,500,000   IQA       1,600,000   Debtors…

Q: Make a statement of financial position.              Add this titles to the picture given: Service…

A: Formula: Net profit = Total revenues - Total expenses

Q: Multiple Choice $290 $110 $220 $90

A: Company have to maintain optimal cash balance so that there is no problem in doing payments on time.

Q: Required: a) Analyze the above transactions. Include money columns for the accounts Cash, Accounts…

A: Financial statements refer to the statements which represent the financial performance and position…

Q: PHE, Inc.estimates warranty expense at 2% of sales. Sales during the year were $4 million and…

A: Balance of warranty expense = Estimated warranty liability - Cash expenditure

Q: The net income reported on the income statement for the current year was $129,500. Depreciation…

A: The cash flows statement shows the cash inflows and cash outflows of the organization. Operating…

Q: My business has a Stores and Distribution expense of $1,542,425, 80% was paid in Cash ($1,233,940),…

A: Accrued Liability: An accrued liability is an expense that a business is yet to pay even after it…

Q: The following balances were extracted from the stadium record for Al-Rafidain commercial stores on…

A: Trial balance is the statement prepared to check if all the debits in the books of an entity are…

Q: Lindon Company provided the following information for the current year: Sales-P7,000,000 Sales…

A: Income from continuing operation includes the income generated from the continued operation, it also…

Q: At the start of the period the accounts payable balance was P75,000 and the unused supplies has a…

A: Supplies: Supplies are the consumables that are used regularly in offices by the organizations in…

Q: Based on the following information, which of the following is closest to days' sales outstanding?…

A: Day's sales outstanding= Accounts receivable/Credit sales * no. of Days

Q: how did you get the current assets amount of the problem Using these data, construct the December…

A: Current assets (CA) refers to those assets which could be converted into cash or liquid form within…

Q: Particulars Debit (RM) Credit (RM) Sales 265,900 Purchases 154,870 Rent 4,200 Lighting and heating…

A: An income statement is concerned with the operations of a business expressed in expense and income…

Q: Corporation specializes in the sale of printing

A: Purchase discount is also called as cash discount which is given by the saler for…

Q: • Credit sales totaled $489,000. • Rent expense was $49,000. • Cash sales totaled $350,000. Cash…

A: Net Income for the business means difference of total revenues and total expenses of business.

Q: The Dockside Inn has net income for the most recent year of $8,450. The tax rate was 35 percent. The…

A: The Cash Coverage Ratio refers to the concept which shows the ability of the firm to pay its…

Q: The net income reported on the income statement for the current year was $139,800. Depreciation…

A: Cash flow statement :— It is one of the financial statement that shows change in cash and cash…

Q: Extreme Sports sold 3,000 monthly subscriptions at $26 each for services provided during February…

A: JOURNAL ENTRIESJournal Entry is the first stage of Accounting Process. Journal Entry is the Process…