Ocean Auto Parts Company uses the direct method to prepare its statement of cash flows
Refer to the following information reported for 2017:
1. Sales Revenue, $520,000
2. Accounts Receivable, beginning balance, $99,000
3. Accounts Receivable, ending balance, $62,000
Compute the collections from customers.
A) $557,000
B) $458,000
C) $161,000
D) $359,000
A .A)
Accounts Receivable, beginning balance $99,000
Add: Sales Revenue 520,000
Less: Accounts Receivable, ending balance (62,000 )
Collections from customers $557,000
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All of the following statements regarding Starbucks are true except:
A) Starbucks offers health benefits to company employees. B) Starbucks partners can take part in Starbucks' stock option plan. C) Starbucks has the opportunity to be a different global company. D) Starbucks is a profitable company. E) Shareholders consider Starbucks' stock to be risky investment.
________ is a term that denotes the return of goods or property received from the other party to undo a contract
A) Rescission B) Recession C) Restitution D) Retribution
Hilltop Golf Course is planning for the coming golfing season
Investors would like to earn a 10% return on the company's $50,000,000 of assets. The company primarily incurs fixed costs to groom the greens and fairways. Fixed costs are projected to be $32,000,000 for the season. About 500,000 rounds of golf are expected to be played each year. Variable costs are about $17 per round of golf. Hilltop golf course has a favorable reputation in the area and, therefore, has some control over the sales price of a round of golf. Using a cost-plus pricing approach, what sales price should Hilltop charge for a round of golf to achieve the desired profit? A) $64 B) $81 C) $47 D) $91
VoiceSys, Inc. produces voice mail switchboard systems used in large office buildings, hotels, and other facilities. VoiceSys is short of cash, but its products are so profitable and are selling so well that it has decided to buy more production equipment from one of the many suppliers that serve its industry. This example illustrates
A. derived demand. B. how installations are a boom-or-bust industry. C. why installations may have to be leased or rented. D. All these answers are correct.