Homeward Supply Services received $1,000 cash from a customer; the amount was owed to the business from the previous month. Which of the following accounts will decrease as a result of this transaction?
A) Cash
B) Revenue
C) Accounts Payable
D) Accounts Receivable
D
You might also like to view...
A process costing system accounts for product costs
a. for a specific period of time. b. almost always in a single Work in Process Inventory account. c. without regard to the process that created the cost. d. for specific orders.
A company sells its products to wholesalers in batches of 1,000 units only. The daily demand for its product and the respective probabilities are given below. Demand (Units) Probability 0 0.2 1000 0.2 2000 0.3 3000 0.2 4000 0.1 ? a.Determine the expected daily demand.b.Assume that the company sells its product at $3.75 per unit. What is the expected daily revenue?
What will be an ideal response?
In calculating times interest earned:
a. tax expense should be included in the denominator. b. noncontrolling interest should be excluded in the numerator. c. capitalized interest should be included in the numerator. d. interest expense should be included in the numerator.
A company is considering purchasing a machine for $21,000. The machine will generate an after-tax net income of $2,000 per year. Annual depreciation expense would be $1,500. What is the payback period for the new machine?
A. 4 years. B. 6 years. C. 42 years. D. 14 years. E. 10.5 years.