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What are the accounting journal entries to record for sales to customers on credit terms?
Depending on the credit terms, the accounts used may vary slightly but it is a basic entry. If the credit terms are where the account will be paid off in one year or less the accounts are: Account Receivable (debit) Revenue (credit) If the terms end up being more than one year then the only account that changes is the accounts receivable and you use Notes Receivable. Notes Receivable (debit) Revenue (credit) *note, some companies may list revenue as Sales, Sales Revenue, Income, etc. For general purposes Revenue is most commonly used. (GAAP)
What is another name for cash received for goods or services?
Depending on the company the terms may be... Revenue, Income, Sales
The company has a variable cost ratio of 65 and monthly fixed costs of 91000 What is the company's break-even point in terms of sales dollars?
$260,000 So 260,000 x .35 (profit margin) = 91,000 minus fixed costs = 0 (breakeven) Calculated by 91,000 divided by (1 - .65)
In business terms how is revenue cycle defined?
Revenue cycle is defined in business terms as a different angle of the sales cycle where the calculations starts on the day the organisation meets a potential customer and continues though out the transaction into building a future relationship with the customer.
What is business turnover How is it calculated?
Business turnover refers to the total revenue generated by a company from its sales of goods or services over a specific period, typically a year. It is calculated by summing all sales income before any deductions for expenses, taxes, or costs. Turnover can provide insights into a company's operational efficiency and market demand. It is often used interchangeably with terms like revenue or sales.
How does break even analysis helps in profit planning discuss and explain the terms?
Breakeven analysis helps the management to find out the point of sales which must be achieved to at least recover the amount spent on manufacturing of product and after that it also helps to find out the point from actual sales to breakeven sales before they start losing as well as to find out the required profit point as well.
Company has a variable cost ratio of 65 and monthly fixed costs of 91000 what is the break even point in terms of sales dollars?
0.35 x A = 91,000 A = 91,000/.35 = 260,000 Therefore, sales at breakeven must be $260,000.
In terms of percentage of sales revenue which type of business is the largest?
Corporations make up about 84% of sales revenue
What were the two trading terms that flora baumbach had learned what do they mean?
Flora Baumbach learned about "load-in" and "breakeven." Load-in refers to the process of unloading equipment before a show, while breakeven refers to the point at which total costs are equal to total revenue, resulting in neither profit nor loss.
What are the accounting journal entries to record for sales to customers on credit terms?
Depending on the credit terms, the accounts used may vary slightly but it is a basic entry. If the credit terms are where the account will be paid off in one year or less the accounts are: Account Receivable (debit) Revenue (credit) If the terms end up being more than one year then the only account that changes is the accounts receivable and you use Notes Receivable. Notes Receivable (debit) Revenue (credit) *note, some companies may list revenue as Sales, Sales Revenue, Income, etc. For general purposes Revenue is most commonly used. (GAAP)
Is Sales figures an example of information?
Yes, sales figures are a type of information that can provide insights into a company's performance in terms of revenue and product popularity.
What is another name for cash received for goods or services?
Depending on the company the terms may be... Revenue, Income, Sales
What is a synonom for revenue?
A synonym for revenue is "income." Other alternatives include "earnings," "proceeds," and "sales." These terms generally refer to the money generated from business activities or investments.
The company has a variable cost ratio of 65 and monthly fixed costs of 91000 What is the company's break-even point in terms of sales dollars?
$260,000 So 260,000 x .35 (profit margin) = 91,000 minus fixed costs = 0 (breakeven) Calculated by 91,000 divided by (1 - .65)
In business terms how is revenue cycle defined?
Revenue cycle is defined in business terms as a different angle of the sales cycle where the calculations starts on the day the organisation meets a potential customer and continues though out the transaction into building a future relationship with the customer.
What is 'Revenue and Profitability'?
Revenue is the income into the company from Sales or the provision of services. Profitability is an assessment of the companies performance where Revenue & Expenditure are compared and the difference is a profit or loss which thereby indicates the profitability of the business. In simple terms its' ability to make a profit or not.
What is the distinction between marginal revenue product and marginal revenue?
I'm thinking that marginal revenue product is the marginal revenue on one product, and marginal revenue is the marginal revenue on the whole firm sales... I'm wondering the same thing but the above response is incorrect. both terms imply values on one item as indicated by the "marginal"
