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
Nikolay [14]
4 years ago
11

During 2022 Wildhorse Co. had sales on account of $770000, cash sales of $303000, and collections on account of $515000. In addi

tion, they collected $8000 which had been written off as uncollectible in 2021. As a result of these transactions the change in the accounts receivable indicates a
Business
1 answer:
Dimas [21]4 years ago
6 0

Answer: The answer is $770,000 - $515,000 = $255,000

Explanation: The change in accounts receivable relates to the transactions that affect accounts receivable. In the question, sales on account of $770,000 represents accounts receivables but cash sales of $303,000 does not impact accounts receivable. Collections of $515,000 would cause a reduction in accounts receivable while $8,000 collected that was previously written off would not - it would also impact cash and bad debt recovery. So the only things affecting accounts receivable are: <u>sales on account of $770,000 minus the collections on account of $515,000 leading to $255,000 balance in accounts receivable account.</u>

You might be interested in
It is fairly easy to acquire loans in Arzenia as the financial intermediaries of the country receive sufficient funds in the for
puteri [66]

Answer:

d. depository institutions

Explanation:

Depository institutions include institutions such as banks, savings associations, and credit unions. They encourage money savings.They are usually insured on a federal level.

When customers save their money with this institutions, the institutions use the money to provide loan facilities to people.

4 0
4 years ago
If the U.S had been poor in natural resources, how would industrialization have been affected?
ludmilkaskok [199]
Without an abundance of natural resources, the US could never of have achieved industrialization at the pace or scope it did. United States of American will then have l<span>ess wealth, less industry, and slower growth. Thank you for posting. Hope it helps :)</span>
5 0
3 years ago
On its income statement for a recent year, American Airlines Group, Inc., the parent company of American Airlines, reported a ne
just olya [345]

Answer:

Find explanations below:

Explanation:

It must be understood that cash flow does not necessarily imply profit or loss.

A company may have been experiencing positive cash flows due selling mostly on a cash basis,  whereas the price charged is lower than cost of per unit,hence it would have high amount of cash, whereas the bottom-line is nothing to write home about.

The cash paid on retirement which is $411,000 would impact financing activities as an outflow.

The $3000 unamortized discount would be deducted from net income

3 0
4 years ago
How does a market economy answer the three economic questions?
love history [14]

Answer:

A market economy answers the three economic questions by allocating resources and goods through markets, where prices are generated.

There are two extremes of how these questions get answered. In command economies, decisions about both allocation of resources and allocation of production and consumption are decided by the government. In market economies, there is private ownership of resources—established though property rights—and the factors of production and consumption are all coordinated through markets. In a market system, resources are allocated to their most productive use through prices that are determined in markets. These prices act as a signal for buyers and sellers. Most economies are mixed economies that lie between these two extremes.

In either system, a rational agent would allocate resources and production using marginal analysis. In command economies, this is more difficult to do because without markets, prices fail at being an effective signal.

Explanation:

I hope this helps!!

7 0
2 years ago
Your friend is trying to decide what carreer to pursue after college but cannot make up his mind because he's confused by the nu
Verizon [17]
I'd advise him to take some time to think it through, so that he can make a sound decision. However, he shouldn't spend to much time trying to make up his mind ;he should be decisive and a risk taker.
3 0
4 years ago
Other questions:
  • Which of the following is a true statement based upon the principle of the time value of money?
    13·2 answers
  • Sales revenues are usually considered earned when an order is received. cash is received from credit sales. adjusting entries ar
    12·1 answer
  • A letter of credit states that an exporter has availed credit from the bank to manufacture goods.
    15·1 answer
  • The nominal interest rate in an economy is 5 percent, and there is also a 15 percent probability of having cash lost or stolen i
    13·1 answer
  • Never, Inc., earns book net income before tax of $500,000. In computing its book income, Never deducts $50,000 more in warranty
    5·1 answer
  • You read the Electricity City Utility Company has problems. Its headquarters had an expansive retaining wall collapse during a f
    8·1 answer
  • Cash Flows. Quick Computing currently sells 10 million computer chips each year at a price of $20 per chip. It is about to intro
    5·1 answer
  • Which of the following is NOT an example of a metric<br> ?
    14·1 answer
  • How can strategic leaders be successful in an industry like the airlines industry
    11·1 answer
  • Muhares, which uses a process-costing system, adds material at the beginning of production and incurs conversion cost evenly thr
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!