On December 31, 2018, Wellstone Company reported net income of $73,000 and sales of $202,000. The company also reported beginning and ending accounts receivable at $16,500 and $27,500, respectively. Wellstone will report cash collected from customers in its 2018 statement of cash flows (direct method) in the amount of:
Answers: 1
Business, 22.06.2019 03:30
Tiana daniels enterprise’s trial balance as at december 31, 2016 did not balance. on february 15, 2017 the following errors were detected: errorsi. water rates had been undercast by $2, 000. ii. a cheque paid to yvonne walch of $2, 680 had been posted to the credit side of her account. iii. discount received total of $1, 260 had been posted to the debit side of the discount allowed account as $1, 620. iv. rent paid in the amount of $24, 000 had been posted to the credit of the rent received account. v. wayne returned goods valuing $1, 680 to daniels enterprise but had been completely omitted from the books. required: 1. prepare the journal entries to correct the errors. (narrations required) 14.5 marks 2. prepare the suspense account showing clearly the original trial balance error. 8 marks
Answers: 2
Business, 22.06.2019 09:00
Brian has been working for a few years now and has saved a substantial amount of money. he now wants to invest 50 percent of his savings in a bank account where it will be locked for three years and gain interest. which type of bank account should brian open? a. savings account b. money market account c. checking account d. certificate of deposit
Answers: 1
Business, 22.06.2019 15:10
Popeye produces 20 cans of spinach in 8 hours. wimpy produces 15 hamburgers in 10 hours. if each hamburger trades for 1.5 cans of spinach, then: a.wimpy’s production and productivity are greater than popeye’s. b.popeye’s production is greater than wimpy’s, but his productivity is less. c.wimpy’s production is greater than popeye’s, but his productivity is less. d.popeye’s production and productivity are greater than wimpy’s.
Answers: 3
Business, 22.06.2019 15:30
The school cafeteria can make pizza for approximately $0.30 a slice. the cost of kitchen use and cafeteria staff runs about $200 per day. the pizza den nearby will deliver whole pizzas for $9.00 each. the cafeteria staff cuts the pizza into eight slices and serves them in the usual cafeteria line. with no cooking duties, the staff can be reduced by half, for a fixed cost of $75 per day. should the school cafeteria make or buy its pizzas?
Answers: 3
On December 31, 2018, Wellstone Company reported net income of $73,000 and sales of $202,000. The co...
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