1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
solniwko [45]
3 years ago
15

At the beginning of the year, the balance in Allowance for Doubtful Accounts is a credit of $760. During the year, previously wr

itten off accounts of $120 are reinstated and accounts totaling $740 are written off as uncollectible. The end-of-year balance (before adjustment) in Allowance for Doubtful Accounts should be
A. $760.
B. $120.
C. $140.
D. $740.
Business
1 answer:
Tom [10]3 years ago
5 0

Answer:

Given:

Allowance for Doubtful Accounts is a credit of $760

Written off accounts = $120

Accounts totaling = $740

The end-of-year balance (before adjustment) in Allowance for Doubtful Accounts will be computed as:

<em>Allowance for Doubtful Accounts - Accounts totaling + Written off accounts</em>

<em>⇒ $760 - $740 + $120</em>

<em>⇒ $140</em>

<u><em /></u>

<u><em>therefore, the correct option is (c).</em></u>

You might be interested in
Effect of transactions on cash flows
kirill115 [55]

Solution :

            EFFECT                          AMOUNT ($)

a.   Cash payment                       $510,000

b.   Cash receipt                          $600,000

c.   Cash receipt                          $72,400

d.  Cash payment                        $825,000

e.  Cash payment                        $30,000

f.   Cash receipt                           $390,000

g. Cash payment                         $225,000

h. Cash payment                         $1475000    

8 0
3 years ago
The shape of a production possibility curve is downward-sloping because ____________________. Select the correct answer below: y
Afina-wow [57]

Answer:

you can get more of one good only by giving up some of another good

Explanation:

A production possibilities frontier shows the opportunity cost of producing one good instead of another. This way, as you follow the curve, the combination of goods will vary, increasing the production of one good but deceasing the production of the other.

Opportunity costs are the benefits lost or extra costs associated to choosing one activity or investment over another alternative. Since resources are scarce, you must always give something up in order to obtain another thing, e.g. you give up your leisure time in order to study.

8 0
3 years ago
The farm security administration gave loans to tenant farmers so that they could
Evgesh-ka [11]

Answer:

Purchase farms

Explanation:

The Farm Security Administration (FSA) was a New Deal agency created in 1937 to combat rural poverty during the Great Depression in the United States.

The FSA stressed "rural rehabilitation" efforts to improve the lifestyle of very poor landowning farmers, and a program to purchase submarginal land owned by poor farmers and resettle them in group farms on land more suitable for efficient farming.

The FSA resettled poor farmers on more productive land, promoted soil conservation, provided emergency relief and loaned money to help fanners buy and improve farms. It built experimental rural communities, suburban "Greenbelt towns" and sanitary camps for migrant farmworkers.

4 0
2 years ago
Watson Company has monthly fixed costs.. Watson Company has monthly fixed costs of $91,000 and what dollar amount of sales must
asambeis [7]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Watson Company has monthly fixed costs of $91,000.

Contribution margin ratio= 0.40

To calculate the dollar amount of sales, we need to use the following formula:

Break-even point (dollars)= (fixed costs + desired profit)/ contribution margin ratio

Break-even point (dollars)= 91,000/0.4= 227,500

A) Desired profit= 15,800

Break-even point (dollars)= (91,000 + 15,800) / 0.40= 267,000

B) Desired profit= 267,000

Break-even point (dollars)= (91,000 + 267,000) / 0.40= 895,000

C) Desired profit= 106,800

Break-even point (dollars)= (91,000 + 106,800) / 0.40= 494,500

D) Desired profit= 227,500

Break-even point (dollars)= (91,000 + 227,500) / 0.40= 796,250

5 0
3 years ago
An investment offers a total return of 11 percent over the coming year. Alex Hamilton thinks the total real return on this inves
Ahat [919]

Answer:

2.87%.

Explanation:

The total return, also refer to as Nominal return or Money return, is based on the nominal interest rate. For example, let's say that you deposited $100 into a bank account and the bank offers you an annual return of 11%. This 11% is the stated interest rate, it is known as nominal interest rate, and it is rate before taking into account the effect of inflation. When we deduct the effect of inflation from nominal rate, it gives us the real rate. Real rate reflects the Purchasing Power. The Fisher equation will be used to determine the expected inflation rate. The Fisher equation is as follows:

                                            (1 + i ) = (1 + r) * (1 + h)

where

i = Nominal (Money) rate

r = Real rate

h = Inflation rate

Simply adjust the equation to calculate the inflation rate;

⇒ h = [(1 + i) / (1 + r)] - 1

OR h = [(1 + .11) / (1 + .079)] - 1 = 2.87%.

8 0
2 years ago
Other questions:
  • Minot Corporation is preparing its cash budget for August. The following information is available concerning its accounts receiv
    15·1 answer
  • The _____ is an international strategy in which a company attempts to combine the benefits of global scale efficiencies with the
    14·1 answer
  • Which of the following is considered a psychographic​ characteristic?
    9·1 answer
  • Cemptex Corporation prepares its statement of cash flows using the indirect method to report operating activities. Net income fo
    14·1 answer
  • A group of 10 pineapple pickers can pick 240 pineapples in an hour. When one more pineapple picker is added to the group, they c
    10·1 answer
  • Economic models:
    14·1 answer
  • A year​ ago, the Really Big Growth Fund was being quoted at an NAV of ​$21.98 and an offer price of ​$22.90. ​Today, it's being
    11·1 answer
  • During the current year, Ecru Corporation is liquidated and distributes its only asset, land, to Kena, the sole shareholder. On
    8·1 answer
  • IKEA is very Sweden-centric; that is, they like doing it the Swedish way, from the names of the furniture to the management of t
    7·1 answer
  • Jason works part-time at a grocery store after school. Jason has worked at the store for two years but still hasn't received a w
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!