NIKKA TECH SOLUTIONS REPORTED SALES REVENUE OF $75,600 ON ITS INCOME STATEMENT. THE ACCOUNTS RECEIVABLE BALANCE DECREASED BY $3,400 OVER THE YEAR. DETERMINE THE AMOUNT OF CASH RECEIVED FROM CUSTOMERS.
Q: Don't Use Ai
A: Step 1: Introduction to cost of a productThe cost of a product refers to the total amount of…
Q: Please given answer general accounting
A: Step 1: Definition of Notes PayableNotes payable are a type of negotiable instrument where the…
Q: All answer
A: Below is the all questions answer and explain: Question 1: Cross-Dimensional Analysis: Question:…
Q: Financial Accounting
A: Step 1: Define Price-Earnings (P/E) RatioThe Price-Earnings (P/E) Ratio is a valuation metric that…
Q: Need answer
A: Explanation of Cost of Goods Sold (COGS):Cost of Goods Sold (COGS) represents the total cost of…
Q: General accounting
A: To find the beginning inventory, we use the following formula: Beginning Inventory = Ending…
Q: Need answer general accounting
A: Step 1: Define Degree of Operating Leverage (DOL)The degree of operating leverage (DOL) measures how…
Q: What is the amount of its tax shield on these financial accounting question?
A: Step 1: Define Tax ShieldA Tax Shield is a reduction in taxable income that results from deductible…
Q: answer plz
A: Compute the target dollar sales.Target dollar sales = (Fixed costs + Target profit) / Contribution…
Q: Provide correct answer
A: Explanation of Sales Revenue: Sales revenue represents the total amount of money a company earns…
Q: Get correct solution this general accounting question
A: Step 1: Define High-Low MethodThe high-low method is a cost estimation technique that determines…
Q: Year ended june
A: Concept of Cash Flow StatementThe cash flow statement is a financial report that summarizes the…
Q: Noble Electronics reported annual sales revenue of $3,150,000. During the year, accounts receivable…
A: Explanation of Sales Revenue: Sales revenue represents the total income generated from selling goods…
Q: General accounting
A: The debt-to-equity (D/E) ratio is calculated as:Debt-to-Equity Ratio = Total Debt / Total…
Q: The ending inventory be for steling supplier ltd???
A: Explanation of Ending Inventory:Ending Inventory refers to the value of unsold goods remaining at…
Q: Don't use aii solve this question financial accounting
A: Step 1: Formulas Dividend Yield = Dividend per share/Market value per sharePrice Earnings ratio =…
Q: Answer step by step and explanation for this general accounting question
A: Step 1: Define Average Fixed Inspection Cost per UnitThe Average Fixed Inspection Cost per Unit…
Q: None
A: Step 1: Define Days Sales Outstanding (DSO)Days Sales Outstanding (DSO) measures the average number…
Q: Financial accounting
A: Step 1: Define InterestInterest is the cost of borrowing money, usually expressed as a percentage of…
Q: How much was carp's beginning invertoy
A: Concept of SalesSales refer to the total revenue generated by a company from selling its products or…
Q: provide general accounting
A: Step 1: Definition of BondsBonds are debt securities issued by corporations or governments to raise…
Q: Please given answer general accounting
A: Compute the fixed cost.Total cost = Variable cost + Fixed cost170,000 = 30,000 + Fixed costFixed…
Q: Accurate Answer
A: Step 1: Analysis of information givenBeginning Cash: $4,779 millionEnding Cash: $3,968 millionCash…
Q: Please give me true answer this financial accounting question
A: To calculate the Price-to-Earnings (P/E) ratio, we follow these steps: Calculate net income: Net…
Q: At the end of Everest Manufacturing Ltd's first year of operations... Please answer the general…
A: Absorption costing includes both variable and fixed manufacturing costs in the cost of inventory,…
Q: Hello tutor please provide answer general Accounting question
A: Step 1: Selling price per unit.= total dollar sales / units sold= $1,300,000 / 130,000= $10 Step 2:…
Q: The cost formula for the maintenance department of Riverside Industries is $22,800 per month plus…
A: To calculate the maintenance cost for the month, use the given cost formula: Total Maintenance Cost…
Q: Titan Industries purchased a machine for $40,000 with a residual value of $6,000 and an estimated…
A: To calculate the annual depreciation under the straight-line method, use the formula: Annual…
Q: Goods sold after the proration ?
A: Step 1: Definition of Overapplied or Underapplied OverheadAt the end of an accounting period, the…
Q: Assets turnover ratio?
A: Step 1: Definition of Asset Turnover RatioThe asset turnover ratio measures how efficiently a…
Q: Please given answer general accounting question
A: To calculate the total production costs when 20,000 packages are produced, we need to break down the…
Q: Give me this question
A: Step 1: Definition of Cost of Goods Manufactured (COGM)The Cost of Goods Manufactured (COGM)…
Q: Solve this Accounting problem
A: Step 1:Margin loan is the amount which an investor can borrow upto the half of the total purchase…
Q: What is the company balance sheet amount in account receivable?
A: Calculation of Average Collection PeriodDays Sales Oustanding = Credit Terms period + Days past due…
Q: None
A: Key Concepts:1. EBIT (Earnings Before Interest & Tax) - represents operating profit before…
Q: A cost is $5,600 at 1,000 units, $9,000 at 2,000 units, and $10,200 at 3,100 units. This cost is a…
A: Concept of Cost BehaviorCost behavior refers to how a cost changes in response to variations in…
Q: What is the predetermined overhead rate on these general accounting question?
A: To calculate Brightline Manufacturing's predetermined overhead rate, you need to use the following…
Q: None
A: Step 1: Define Defined-Benefit Pension PlanDefined-Benefit Pension Plans are designed by employers…
Q: Financial Accounting please provide answer
A: The interest accrued on September 30 is calculated as follows: Interest accrued = Face value of bond…
Q: General accounting
A: Step 1: Define Debt RatioIn financial ratio analysis, the debt ratio is used by top management in…
Q: Solve this financial accounting problem
A: Explanation of Net Cash Flow:Net cash flow refers to the total cash generated or used by a company…
Q: Financial accounting question
A: Step 1: Define Ratio AnalysisIn management accounting, ratio analysis helps in making informed…
Q: What is Brightview's net sales on these financial accounting question?
A: Step 1: Define Net SalesNet Sales represents the actual revenue a company earns after accounting for…
Q: Company Y reported FIFO ending inventory of $126,500 and a beginning inventory of $119,200 for 2021.…
A: Explanation of FIFO (First-In, First-Out): FIFO is an inventory valuation method that assumes the…
Q: Calculate the contribution margin ratio?
A: Calculation of Total Variable CostTotal Variable Cost = Direct Material per T-Shirt + Direct Labor…
Q: Need help this question financial accounting
A: Step 1: Definition of Sales Price Variance and Sales Volume VarianceSales Price Variance: This…
Q: ??
A: Concept of Accrual Basis AccountingAccrual basis accounting records revenues when they are earned…
Q: Answer? ? General Accounting
A: Step 1: Define Profit MarginThe profit margin is a financial metric that expresses a company's net…
Q: What is the estimated ending inventory?
A: Explanation of Gross Profit Method: The Gross Profit Method is a technique used to estimate ending…
Q: Assume that markup is based on cost. Find the dollar markup and percent markup on cost for the…
A: Concept of Cost PriceThe cost price refers to the amount a business spends to acquire or produce a…
The amount of cash received from customer??
Step by step
Solved in 2 steps
- River Company began the accounting period with a $79,000 debit balance in its Accounts Receivable account. During the accounting period, River Company earned revenue on account of $343,800. The ending Accounts Receivable balance was $73,000. Required Based on this information alone, determine the amount of cash inflow from operating activities during the accounting period. (Hint: Use a T-account for Accounts Receivable. Enter the debits and credits for the given events, and solve for the missing amount.) Cash inflow from operating activitiesSkysong, Inc. had credit sales of $1312000. The beginning accounts receivable balance was $135000 and the ending accounts receivable balance was $230000. Using the direct method of reporting cash flows from operating activities, what were the cash collections from customers during the period? $1312000. $1447000. $1217000. $1487000.The balance in Accounts Receivable at the beginning of the period amounted to $2,880. During the period $9,440 of credit sales were made to customers balance in Accounts Receivable amounted to $1,880, and uncollectible accounts expense amounted to $800, then the amount of cash inflow from customers appear in the operating activities section of the cash flow statement would be Multiple Choice $9.640 $9,440 $12.120 Nore of these answers are correct b
- Concord Corporation had the following transactions that took place during the year: I. Recorded credit sales of $3050 I. Collected $1830 from customers III. Recorded sales returns of $610 and credited the customer's account. What is the total effect of these transactions on free cash flow? Cannot be determined O Increase Decrease O No EffectDuning the year, Next Tec Corp. had the following cash flows receipt trom customers, $21,000, receipt from the bank for long term borrowing. $6,200, payment to supplers, $5,200, payment of dividends, $1700, payment to workers, $3.000, and payment for machenery $9,000. What amount would be reported for net financing cash flows in the statement of cash fows? Mutiple Choice S4500 $6 200 (19,000 SA000 20 s0 ype here to search Ps 40% S/1/20 K N Alt Ctri Home oOOoMary Co. reported an ending cash balance of P35,000. An examination of the Cash T-account revealed debits of P60,000 and credits of P45,000 during the period. The company’s beginning (normal) cash balance was:
- The cash flows from (used for) operating activities are reported by the direct method on the statement of cash flows. Determine the following: a. If sales for the current year were $558,800 and accounts receivable decreased by $39,700 during the year, what was the amount of cash received from customers?$fill in the blank 1 b. If income tax expense for the current year was $38,900 and income tax payable decreased by $4,500 during the year, what was the amount of cash paid for income taxes?$fill in the blank 2 c. Briefly explain why the cash received from customers in part (a) is different from sales.Because the customers paid than the amount of sales for the period, cash received from customers sales made on account by $39,700 during the current year.KmuThe following information relates to a company’s accounts receivable: gross accounts receivable balance at the beginning of the year, $300,000; allowance for uncollectible accounts at the beginning of the year, $25,000 (credit balance); credit sales during the year, $1,500,000; accounts receivable written off during the year, $16,000; cash collections from customers, $1,450,000. Assuming the company estimates that future bad debts will equal 10% of the year-end balance in accounts receivable. 1. Calculate bad debt expense for the year.2. Calculate the year-end balance in the allowance for uncollectible accounts.
- The following information relates to a company’s accounts receivable: gross accounts receivable balance at the beginning of the year, $350,000; allowance for uncollectible accounts at the beginning of the year, $24,000 (credit balance); credit sales during the year, $1,200,000; accounts receivable written off during the year, $15,000; cash collections from customers, $1,100,000. Assuming the company estimates that future bad debts will equal 12% of the year-end balance in accounts receivable.1. Calculate bad debt expense for the year.2. Calculate the year-end balance in the allowance for uncollectible accounts.A company's general ledger shows a cash balance of $4,590. Comparing the company's cash records with the monthly bank statement reveals several additional cash transactions such as checks outstanding of $2,810, bank service fees of $170, and interest earned of $24. Required: Calculate the reconciled company's cash balance. Cash balanceOn July 31, 2020, Keeds Company had a cash balance per books of $6,140. The statement from Dakota State Bank on that date showed a balance of $7,690.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $25. 2. The bank collected $1,520 for Keeds Company through electronic funds transfer. 3. The July 31 receipts of $1,193.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. 4. Company check No. 2480 issued to L. Taylor, a creditor, for $384 that cleared the bank in July was incorrectly entered as a cash payment on July 10 for $348. 5. Checks outstanding on July 31 totaled $1,860.10. 6. On July 31, the bank statement showed an NSF charge of $575 for a check received by the company from W. Krueger, a customer, on account. Instructions a. Prepare the bank reconciliation as of July 31. b. Prepare the necessary adjusting entries at…
