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41.During 2009, Bart’s Brewskies saw a jump in accounts receivables. It went from $10,000 at year end in 2008 to $20,000 at year end in 2009. With the introduction of his newest brewskie, chocolate beer, Bart saw his sales skyrocket. In 2009, his sales were $120,000. How much cash did Bart’s Brewskies take in for 2009?
42.Bart’s Brewskies has grown beyond its wildest dreams. They are now a corporation and have hired an accountant. Their income statement is now showing a net income. How is this income shown on the Statement of Retained Earnings?
I. It increases retained earnings. II. It is shown as dividends paid to shareholders. III. It does not impact the Statement of Retained Earnings.
44.Bart’s Brewskies saw sales of $50,000 in December-primarily due to New Year’s Eve celebrations. Bart determined that 30% of his sales are paid in cash, while the rest are billed for their brewskies. Of the money owed, 40% is paid December, while the remaining is paid the following month. What is the increase of Accounts Receivable on New Year’s Eve?
45.Bart owns a brewery that specializes in a beer containing caffeine. He recently purchased a $20,000 coffee maker to help add a kick to his brew. He expects the coffee maker to have a useful life of ten years and have a salvage value of $2,000. If Bart’s brewery, Bart’s Brewskies, is using the double declining depreciation method, how much would he depreciate in the first year?
