Ask Question
BusinessBusiness
10 July, 01:41

Malibu Company went into business in 2019 and in that year, its total sales were $62,000. At the end of 2019, Malibu had a balance in accounts receivable of $4,000 and a balance in unearned revenue of $1,000. How much did Malibu receive in cash during 2019? a. $62,000 b. $59.000 c. $65,000 d. $558.000

+2
Answers (1)
  1. 10 July, 02:46
    0
    Option (b) is correct.

    Explanation:

    Given that,

    Total sales = $62,000

    At the end of 2019,

    Balance in accounts receivable = $4,000

    Balance in unearned revenue = $1,000

    Malibu receive in cash during 2019:

    = (Total Sales - Accounts receivable balance) + Balance in unearned revenue

    = ($62,000 - $4,000) + $1,000

    = $58,000 + $1,000

    = $59,000

    Therefore, the cash received by Malibu is $59,000.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Malibu Company went into business in 2019 and in that year, its total sales were $62,000. At the end of 2019, Malibu had a balance in ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
At least theoretically, the internet allows for participation by anyone anywhere in the global, digital economy, but not everyone has real and practical access. this is called
Answers (1)
What is the study of value, its transmission, and its effects, on human society and the organization of business? A.) IT B.) Operations C.) Marketing D.) Economics
Answers (1)
Dendrites are a threadlike part of the neuron system in True False
Answers (1)
Choose the organization listed below that takes a proactive role in developing recommendations and prototype technologies related to the web.
Answers (1)
What is market segmentation? List the steps in the market segmentation process.
Answers (1)
New Questions in Business
When the government increases taxes, rates of tax evasion increase?
Answers (1)
The chart of accounts is a a. group of accounts for a business. b. list of the accounts in the ledger. c. list of all the accounts with their balances. d. list of all income and expense accounts.
Answers (1)
Michael Glock was the policyowner-insured of a $50,000 participating whole life insurance policy with a $50,000 accidental death benefit (ADB) rider. Mr. Glock's $750 annual premium was due on March 13, 2015. On March 24, Mr.
Answers (1)
Of the following duties, it is most important to separate a. accounts payable and accounts receivable b. warehouse from inventory control c. warehouse from stores d. purchasing and accounts receivable
Answers (1)
On march 25, 1911, a fire in the triangle shirtwaist factory in new york city claimed the lives of 146 female workers.
Answers (1)
Home » Business » Malibu Company went into business in 2019 and in that year, its total sales were $62,000. At the end of 2019, Malibu had a balance in accounts receivable of $4,000 and a balance in unearned revenue of $1,000.
Sign Up Forgot Password?