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vovangra [49]
3 years ago
15

John Den Bear Company had a $150,000 beginning balance in Accounts Receivable and a $6,000 credit balance in the Allowance for D

oubtful Accounts. During the year, credit sales were $600,000 and customers’ accounts collected were $590,000. Also, $4,000 in worthless accounts were written off. What was the net amount of receivables included in the current assets at the end of the year, before any provision was made for doubtful accounts? Select one:
Business
1 answer:
Sedaia [141]3 years ago
8 0

Answer:

The correct answer is $154,000.

Explanation:

According to the scenario, the computation of the given data are as follows:

We can calculate the net amount of receivables by using following formula:

Net receivables = Accounts receivable account - Allowance accounts

So, Accounts receivable = Beginning balance + credit sales - cash collected - Amount written off

= $150,000 + $600,000 - $590,000 - $4000

= $156,000

And Allowance accounts = Beginning allowance account - amount written off

= $6,000 - $4,000

= $2,000

Now by putting the value, we get

Net receivables = $156,000 - $2,000

= $154,000.

Hence, the net amount of receivables is $154,000.

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larisa86 [58]

Answer:

No, there was no arrangement of any kind. It was either a common idea or a notion that Johnny shared with Michael.

Explanation:

There are a range of contracts or agreements, depending on the stage of the implementation of the concept of the invention, to safeguard the rights of the various stakeholders to the intellectual property of modern, concrete and original concepts and also to prevent any misuse or misappropriation of the concept, as follows-

  • Non-disclosure policy on confidentiality.
  • Non-compete agreement on the non-appeal of product rights by the recipient or listener of the definition.
  • Function on the contract of hire-employed if there is a co-inventor against any fraud.

And, in that case, there were none of the above agreements.

-In addition, ideas can not be covered solely until they are an Express that is real, original, and feasible. Since copyright protects speech and patents against inventions, the mere concept or idea of a product can not guarantee any legal right to design.

In fact, Mr. Johnny had not previously submitted a provisional patent application to defend his concept. It plays an important role in certain countries, such as the US, where the applicant can protect his idea on a provisional basis for up to one year by enabling his idea to be classified as 'patent pending.'

So, according to the above statements & evidence, Johnny did not have the legal right to the definition, but Michael did.

-Yeah, this is a breach of intellectual property rights. Since the term or idea was not Michael's own, it was taken from Johnny. But Johnny did not have the intellectual property right lodged to sue Michael due to lack of facts, i.e. an agreement signed by Michael against non-disclosure or non-competition.

4 0
3 years ago
While Ken appreciates that as a result of his communication-based self improvement plan he will be a better person, he knows tha
ololo11 [35]
While Ken appreciates that as a result of his communication-based self improvement plan he will be a better person, he knows that the greatest benefit will be to ______.

b. Become a more effective worker

6 0
3 years ago
Read 2 more answers
Holiday Shipping Express is considering a project that will require $28,000 in net working capital and $87,000 in fixed assets.
____ [38]

Answer:

the operating cash flow is $17,820

Explanation:

The computation of the operating cash flow is shown below;

Annual depreciation = $87,000 ÷5

= $17,400

Now

Operating cash flow is

= (sales - cash costs - depreciation) × (1 - tax rate) + depreciation expense

= ($75,000 - $57,000 - $17,400) × (1 - 0.3) + $17,400

= $420 + $17,400

= $17,820

hence, the operating cash flow is $17,820

7 0
3 years ago
Gather secondary data by reading what others have experienced and observed. You should begin nearly every research project by re
STatiana [176]

Answer:

C. Periodicals

Explanation:

In this case the most recommended source for use would be the periodicals.

Periodical publications are scientific publications made in electronic or on paper that address different topics and are published at regular intervals. So this would be a good source to enrich a research project with up-to-date information on the subject that you want to collect information about.

5 0
3 years ago
What is the value of a put option at expiry if the stock price is 'S' and the exercise price is 'X'?
Setler [38]

Answer:

A put option is out of the money if the strike price is less than the market price of the underlying security. The holder of an option contract can exercise the option at any time before expiration.

Explanation:

hope this helps if not please let me know

6 0
2 years ago
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