User Account

All Pages

Calculate the net profit and cash flow from this sale

Assignment Help Accounting Basics
Reference no: EM131831730

Question - Johnson, Inc. has just ended the calendar year making a sale in the amount of $10,000 of merchandise purchased during the year at a total cost of $7,000. Although the firm paid in full for the merchandise during the year, it has yet to collect at year end from the customer. The net profit and cash flow from this sale for the year are.

A. $7,000 and -$3,000, respectively.

B. $3,000 and -$7,000, respectively.

C. $3,000 and $7,000, respectively.

D. $3,000 and $10,000, respectively.

Reference no: EM131831730

Questions Cloud

What are the major economic classifications of nations : What are the major economic classifications of nations? Give one or two characteristics of each classification.
What would timberline maximum depreciation expense : What would Timberline's maximum depreciation expense be for 2012 if the furniture cost $600,000 instead of $200,000
Difference between generic international business and mnc : What is tha main difference between a generic international business and an MNC?
Would you buy preferred stock or bonds : How is a firm's ability to manage current assets and liabilities correlated to the firm's longevity?
Calculate the net profit and cash flow from this sale : Johnson, Inc. has just ended the calendar year making a sale in the amount of $10,000, The net profit and cash flow from this sale for the year are
Insurance company in exchange for risk protection : An insurance premium is a fee paid to an insurance company in exchange for risk protection.
Weekly management meeting in accounting : You are to analyze various aspects of a customer firm and our firm; What do you conclude about the firm’s financial health and any change from 2013 to 2014?
Discuss how standards of care influence direct services : In this assignment, you will assess the influence of accountability standards on human services work. This exercise will sharpen your ability to recognize.
What should be the overall effect on net operating income : Fixed expenses are $355,000 per month. What should be the overall effect on the company's monthly net operating income of this change

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd