subject
Business, 22.09.2020 14:01 eden1017

The following account balances are taken from the December 31, 2018, financial statements of ABZ Advertising Company. The company uses accrual basis accounting. Advertising Revenue $ 50,034 Cash 44,530 Accounts Receivable 7,635 Interest Expense 2,369 Accounts Payable 5,150 Operating Expenses 40,528 Deferred Revenue 1,266 Equipment 19,513 Income Tax Expense 2,502 The following activities occurred in 2019: Performed advertising services on account, $59,200. Received cash payments on account, $11,300. Received deposits from customers for advertising services to be performed in 2020, $3,100. Made payments to suppliers on account, $5,150. Incurred $48,450 of operating expenses; $42,000 was paid in cash and $6,450 was on account and unpaid as of the end of the year. What is the amount of revenue that will be reported on the income statement for the year ended December 31, 2019

ansver
Answers: 2

Another question on Business

question
Business, 22.06.2019 13:10
The textbook defines ethics as “the principles of conduct governing an individual or a group,” and specifically as the standards one uses to decide what their conduct should be. to what extent do you believe that what happened at bp (british petrolium) is as much a breakdown in the company’s ethical systems as it is in its safety systems, and how would you defend your conclusion?
Answers: 2
question
Business, 22.06.2019 13:20
Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.
Answers: 1
question
Business, 22.06.2019 21:30
Which of the following best explains why online retail companies have an advantage over regular stores? a. their employees make less money because they mostly perform unskilled tasks. b. they are able to keep distribution costs low by negotiating deals with shipping companies. c. their transactions require expensive state-of-the-art technological devices. d. they have a larger number of potential customers because people anywhere can buy from them.
Answers: 1
question
Business, 22.06.2019 22:40
Johnson company uses the allowance method to account for uncollectible accounts receivable. bad debt expense is established as a percentage of credit sales. for 2018, net credit sales totaled $6,400,000, and the estimated bad debt percentage is 1.40%. the allowance for uncollectible accounts had a credit balance of $61,000 at the beginning of 2018 and $49,500, after adjusting entries, at the end of 2018.required: 1. what is bad debt expense for 2018 as a percent of net credit sales? 2. assume johnson makes no other adjustment of bad debt expense during 2018. determine the amount of accounts receivable written off during 2018.3. if the company uses the direct write-off method, what would bad debt expense be for 2018?
Answers: 1
You know the right answer?
The following account balances are taken from the December 31, 2018, financial statements of ABZ Adv...
Questions
question
Mathematics, 05.10.2021 17:50
Questions on the website: 13722360