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3 years ago

The following information was available for the year ended December 31, 2019:

Business

1 answer:

ozzi3 years ago

5 0

Answer:

The number of days’ sales in accounts receivable for 2019, using year-end accounts receivable were ____21.9 days almost 22 days

Explanation:

The days ' sales in receivable is computed by dividing the current balances of receivables by net credit sales over the year just completed and then multiplying by 365 (number of days in a year).

Days' Sales in receivable= (Accounts Receivable/ Net sale )*365

Days' Sales in receivable=(Accounts receivable at year-end/ Net sale )*365

Days' Sales in receivable= (18,000/$ 300,000)*365

Days' Sales in receivable=(0.06)*365= 21.9 days

It means it will take almost 22 days to collect cash from ending accounts receivable.This number reflects one or more of the following factors; a company's ability to collect receivables , customer financial health , customer payment strategies and discount terms.

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Mr. Smith is hired as a consultant to a firm evaluating entry into a perfectly competitive industry. Mr. Smith determined that a

DENIUS [597]

Answer:

P = 70, Ed = ∞ , Firm = Price Taker , Free Entry & Exit

Homogeneous Product , No selling costs , Long Run Normal Profits

Explanation:

Perfect Competition is a market form with : many number of buyers & sellers, selling homogeneous goods at uniform prices, while firms & consumers having perfect information & no selling costs.

In this market : Price = Marginal Cost , as taken by all firms from the industry & so demand curve is horizontal parallel to x axis - denoting perfectly elastic demand i.e infinite sale at prevailing price.

As market's all sellers goods are homogeneous & all have perfect information about it, no selling costs are required. Free Entry & Exit in industry also imply that Industry's profits are confined to 'Normal Profits' (No Supernormal profit / abnormal loss) in long run.

So, Smith's report would include all the above mentioned remarks.

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3 years ago

Denton and Carlo worked at an appliance plant. Their job required them to do occasional maintenance work while standing on a wir

zepelin [54]

Answer:

Yes

Explanation:

Yes, the disharge was wrongful and the employer can be sued for doing so. Employees are protected under the OSHA law, which basically makes sure that employers provide the employees with safe and hazard free work conditions for all employees. Failure to do so can be met with a lawsuit as well as firing an employee for not putting themselves in a dangerous situation. The OSHA administration which is the same representatives of the law itself can provide assistance to the employees in this situation.

3 0

3 years ago

Based on this model, households earn income when (household/firms) purchase (factors/goods and services) in factor markets.

aalyn [17]

The model shows that households earn money when <u>Firms </u>purchase <u>Factors </u>in factor markets.

<h3>Interaction between the Household and a Firm </h3>

Households buy goods from firms thereby passing income to firms.
Firms buy labor from households.

Households therefore earn an income when firms decide to go to the factor market and buy a factor such as labor from households.

In conclusions, households and firms are interconnected.

Find out more on this interaction at brainly.com/question/1433471.

5 0

3 years ago

At the beginning of the current period, Swifty Corporation had balances in Accounts Receivable of $195,100 and in Allowance for

aksik [14]

Answer:

accounts receivables 745,500 debit

sales revenues 745,500 credit

cash 835,120 debit

accounts receivables 835,120 credit

allowance for uncollectible amount 7,831 credit

accounts receivables 7,831 credit

accounts receivables 3,184 debit

allowance for uncollectible ammount 3,184 credit

uncollectible amount expense 19,397 debit

allowance for uncollectible amount 19,397 credit

net receivables 76.733‬

Explanation:

Allowance balance before adjustment:

9,350 - 7,831 + 3,184 = 4,703

estimated uncollectible amount within our accounts receivables 24,100

adjusmtent 24,100 - 4,703 = 19,397

net account receivables:

195,100

+ 745,500 sales on account

- 835,120 collected

-7,831 write-off

+3,184 recovery

<u>-24,100 allowance</u>

76.733‬

4 0

3 years ago

If the prepaid rent account before adjustment at the end of the month has a debit balance of $2,800, representing a payment made

Fudgin [204]

Answer:

$2,100

Explanation:

The amount that will appear in the balance sheet after the adjustment of the rent expense of the $700 during the month is given as follow:

Amount of prepaid rent on balance sheet at the end of month=Debit balance of prepaid rent-monthly rent expense for the month

Amount of prepaid rent on balance sheet at the end of month=$2,800-$700

=$2,100

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4 years ago