Complete Questions:
The following account balances were extracted from the accounting records of Thomas Corporation at the end of the year: Accounts Receivable $1,105,000. Allowance for uncollectible accounts (credit) $37,000. Uncollectible-Account Expense $64,000
. What is the net realizable value of the accounts receivable?
A. $1,142,000
B. $1,169,000
C. $1,105, 000
D. $1,068,000
Explain
Answer:
Thomas Corporation
D. $1,068,000
Explanation:
1. Data and Calculations:
Accounts Receivable $1,105,000
less Allowance for uncollectible accounts (credit) $37,000
Net realizable value = $1,068,000
2. Thomas Corporation's Accounts Receivable balance is a debit balance and the Allowance for uncollectible accounts is a credit balance. Since the Allowance for uncollectible accounts is a contra account to the Accounts Receivable, when the two are netted, the balance is the net realizable value of the Accounts Receivable.
3. Thomas cannot include the Uncollectible-Account Expense of $64,000
in the computation of the net realizable value since it has been charged and closed to the income summary and as a temporary account, it cannot be treated as other permanent accounts.
Answer:
$18.74
Explanation:
the margin of error for a 95% confidence level = Z x (σ / √n)
- Z for a 95% confidence level = 1.96
- standard deviation (σ) = $160
- sample size (n) = 280
the margin of error for a 95% confidence level = 1.96 x ($160 / √280) = 1.96 x ($160 / 16.733) = 1.96 x $9.56 = $18.74
Answer:
$15,576 should appear as Cash and Cash Equivalents on the balance sheet
Explanation:
Cash and Cash Equivalents
= Cash in a checking account + Cash in saving account + High-grade government securities
= $5,000 + $7,000 + $3,576
= $15,576
Therefore, $15,576 should appear as Cash and Cash Equivalents on the balance sheet
Answer:
The answer is B.The entrepreneur role.
Explanation:
Answer: Business calculation is mathematics used by industrial companies to record and maintain enterprise operations. Profit-making organizations use mathematics in accounting, catalog management, retailing, deals forecasting, and monetary analysis.
