The Data Presented Below Is for Craft, Inc

question 136

Multiple Choice

The data presented below is for Craft, Inc. for 2015. What amount will Craft show on its year-end balance sheet for the net realizable value of its accounts receivable?

• A) $295,000
• B) $267,000
• C) $250,000
• D) $ 28,000

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Definitions:

Cash Dividends

Payments made by a company to its shareholders from its profits or reserves, representing a share of the corporate earnings.

Financing Activities

Transactions and events that affect long-term liabilities and equity of a company, including issuing debt, repaying loans, and distributing dividends.

Fiscal Year

A one-year period used by governments and businesses for accounting and financial reporting, which may or may not align with the calendar year.

Depreciation Expense

Spreading out the expense of a physical asset over the period it's in use.