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
Oliga [24]
3 years ago
5

Route Canal Shipping Company has the following schedule for aging of accounts receivable:Age of Receivables April 30, 20X1 (1) (

2) (3) (4) Month of Sales Age of Account Amounts Percent of Amount Due April 0–30 $ 156,240 _______ March 31–60 78,120 _______ February 61–90 117,180 _______ January 91–120 39,060 _______ Total receivables $ 390,600 100% Calculate the percentage of amount due for each month.
Business
1 answer:
m_a_m_a [10]3 years ago
5 0

Answer:

Explanation:

The formula to compute the percentage of amount due for each month is shown below:

= (Month wise amount due) ÷ (Total receivables) × 100

For April:

= ($156,240) ÷ ($390,600) × 100

= 40%

For March:

= ($78,120) ÷ ($390,600) × 100

= 20%

For February:

= ($117,180) ÷ ($390,600) × 100

= 30%

For January:

= ($39,060) ÷ ($390,600) × 100

= 10%

You might be interested in
On April 1, 9,000 shares of $7 par common stock were issued at $26, and on April 7, 5,000 shares of $70 par preferred stock were
Mariana [72]

Answer:

Apr 1

DR Cash $234,000  

CR Common stock   $63,000

CR   Paid in capital in excess of par - Common Stock  $171,000

<em>(To record issuance of common stock)</em>

 

Apr 7

DR Cash $540,000  

CR Preferred stock   $350,000

CR Paid in capital in excess of par - Preferred Stock  $190,000

<em>(To record issuance of preferred stock)</em>

 

Explanation:

April 1

Cash

9,000 * 26 = $234,000

Common stock

9,000*7 = $63,000

April 7

Cash

5,000*108 = $540,000

Preferred stock

5,000*70 = $350,000

7 0
3 years ago
Travis Company purchased merchandise on account from a supplier for $5,700, terms 2/10, net 30. Travis Company paid for the merc
almond37 [142]

Answer:

Dr. Account Payable  $5,700

Cr. Discount Income  $114

Cr. Cash                      $5,586

Explanation:

Term 2/10, net/30 means there is a discount of 2% is available on payment of due amount within discount period of 10 days after purchase and net credit period of 30 days.

According to given data

Purchases = $5,700

As the payment is made within discount period, so discount will be availed

Discount  = $5,700 x 2% = $114

Amount to be paid = $5,700 - $114 = $5,586

7 0
3 years ago
A family with 45000 in asserts and 22000 of liabilities would have a net worth of?
-Dominant- [34]

The answer would be B, $23,000.

8 0
3 years ago
Read 2 more answers
Suppose the mean income of firms in the industry for a year is 75 million dollars with a standard deviation of 17 million dollar
Readme [11.4K]

Answer and Explanation:

Given:

μ = 75 million

SD = 17 million

Probability (x) raw data = 110 million

Computation:

= Probability (x) < 110 million

= Probability [(x-μ) / SD] < [(110 - 75) / 17]

[(x-μ) / SD] = Z

= Probability [z] < [(35) / 17]

= Probability [z] < [2.05882353]

Using z calculator:

P-value from Z-Table:  

Z score = 0.98024

Therefore, probability is 0.98024

4 0
3 years ago
You consider buying a share of stock at a price of $31. the stock is expected to pay a dividend of $2.58 next year, and your adv
Sophie [7]
Im not sure but I need the points man
5 0
3 years ago
Other questions:
  • Harvey automobiles uses a standard part in the manufacture of several of its trucks. the cost of producing​ 90,000 parts is​ $13
    11·1 answer
  • The ABC Company had its highest level of production in May when they produced 4,000 units at a total cost of $110,000 and its lo
    5·1 answer
  • Must a copyright symbol be displayed to protect the copyright?
    11·1 answer
  • Select the most appropriate opening for a direct claim letter when the remedy is obvious. O Please send me a new Nintendo 3DS to
    9·2 answers
  • Rajiv Financial Services had a cash balance on March 1, 2013 of $1,002,988. Its cash receipts for the month of March totaled $2,
    12·1 answer
  • The following are types of rework except:________
    11·1 answer
  • Your friend Marco loves being on his phone and interacting on social media. He knows that you are studying different careers and
    12·1 answer
  • The Gorman Group issued $930,000 of 11% bonds on June 30, 2021, for $1,009,794. The bonds were dated on June 30 and mature on Ju
    8·2 answers
  • Please help me with this question.
    8·1 answer
  • What do u want to be when u grow up
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!