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
djverab [1.8K]
2 years ago
15

On January 1, 2014 the Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $30,000 and $500, respect

ively. During the year the company reported $75,000 of credit sales. There were $550 of receivables written-off as uncollectible in 2014. Cash collections of receivables amounted to $74,550. The company estimates that it will be unable to collect one percent (1%) of credit sales. The amount of uncollectible accounts expense recognized in the 2014 income statement will be? $700 $300. $750. $550.
Business
1 answer:
san4es73 [151]2 years ago
8 0

Answer:

correct option is $750

Explanation:

solution

we know here that Net balance of opening accounts receivable is

Net balance of opening accounts receivable = $30000 - $500

Net balance of opening accounts receivable = $29500

and

Credit sales during the year is here $7500 0

and Cash payments received = 74550

so

uncollecectible account expenses = credit sales × % of sale uncollectible

so uncollecectible account expenses = $75000 × 1%

uncollecectible account expenses  = $750

so correct option is $750

You might be interested in
Choose the circumstances in which a debit card can be used. I. Point-of-sales transactions II. ATM withdrawals
natulia [17]

Answer:

The correct options are I and II

Explanation:

A debit card is the kind of payment card, which deducts the money directly or straight away from the checking account of the customer in order to pay for the purchase.

These cards also referred to as the check cards, which offer the person , the convenience of the credit cards as well as many of the customer protections. So, it could be used when the person involve in withdrawal of money from ATM and at point of sale, where the transaction is finalized and the customer tenders the payment in exchange of the service or good.

5 0
3 years ago
Tangerine Tangerine ink Target capital structure is 20% debtthe following information about sleep please Corporation a company h
Tasya [4]

16% is the answer.

<u>Explanation:</u>

<u>The following is used in order to calculate the cost of the retained earnings. </u>

The Calculation of cost of retained earnings by using bond yield plus the risk premium method

= Long term bond yield + the risk premium

The Long term bond yield = 12 percent

The risk premium = 4 percent

Cost of retained earnings = 12 percent plus 4 percent = 16 %

Therefore, the correct option will be with the 16 percent .

7 0
2 years ago
(a) Graphically show &amp; explain how carpooling may eliminate the shortage.
balu736 [363]

Answer:Graphically show & explain how carpooling may eliminate the shortage.

Explanation:

4 0
2 years ago
Marcus, feeling stressed out from work, decided to search for a meditation app for his phone that would help him relax during th
sweet-ann [11.9K]

Answer: a. It merely conducted some activity outside of Alaska and that activity took place through a website.

Explanation:

CalmDown can use the defence that all it did was to conduct an activity through it's website and this happened to be outside Alaska.

As such the company is still bound by the state that it is registered in which in this case would seem to be in Alaska. They are not to be bound by the laws of another jurisdiction from the one they are registered to if the activity was done on the internet.

Marcus should therefore try to bring action against them in Alaska if he can.

7 0
3 years ago
How do you think each of the following affected the world price of oil? (Use basic demand and supply analysis.)
My name is Ann [436]

The correct answer is the following.

A) Tax credits were offered for expenditures on home insulation. Affected the demand by decreasing it and the price decrease.

B) The Alaskan oil pipeline was completed. Affect the increase of supply and the price and the price decreases.

C) The ceiling on the price of oil was removed. Affect the decrease in demand and the price varies.

D) Oil was discovered in the North Sea. Affect the supply by increasing it and the price decreases.

E) Sport utility vehicles and minivans became popular. Affect the increase of the demand and the price increases.

F) The use of nuclear power decreased. Affect the increase of the demand and the price increases.

Many variables affect the price of oil. International prices are modified constantly and countries should have their provisions in order to prevent drastic changes to their economies due to the fluctuation of international oil practices. The important thing to consider is that not only economic factors affect the price of oil, but also political factors.

6 0
2 years ago
Other questions:
  • Many business organizations effectively use _____ to train communications, sales, and customer service skills. Trainees gain ski
    5·1 answer
  • The market mechanism:_______
    6·1 answer
  • The temporary difference will reverse evenly over the next two years at an enacted tax rate of 40%. The enacted tax rate for 201
    8·1 answer
  • here is ongoing debate among U.S. policymakers whether the role the government in the healthcare system should be expanded or re
    6·1 answer
  • In early January, Burger Mania acquired 100% of the common stock of the Crispy Taco restaurant chain. The purchase price allocat
    6·1 answer
  • Copa Corporation is considering the purchase of a new machine costing $150,000. The machine would generate net cash inflows of $
    11·1 answer
  • Substitutes have a(n): Please choose the correct answer from the following choices, and then select the submit answer button. in
    5·1 answer
  • Sustainability programs often find their success beyond company boundaries, thus ______ systems and _____ metrics cannot capture
    6·1 answer
  • Where is Nova City Islamabad located? Also is it under progress or has the development been completed?
    13·1 answer
  • When preparing a presentation, you want to learn about the audience so that you can tailor your message accordingly. What factor
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!