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djverab [1.8K]
3 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]3 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

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MA_775_DIABLO [31]

Answer:

b. Battery

Explanation:

Retired utility workers are suing their former employer for knowingly exposing them to asbestos without warning them of the health risks. The retired workers did not learn of the prolonged exposure until long after their retirement because the company engaged in a systematic cover up of the exposure. The retired workers' cause of action is for battery.

In Business law, battery can be defined as the act of intentionally causing physical harm to an individual or group of people through physical contacts.

Hence, in this case the employers knowingly or intentionally exposed the retired workers to asbestos without warning them of the health risks associated.

<em>Simply stated, a battery in criminal law is completed assault. </em>

8 0
2 years ago
Do you think Instagram’s main goal is to connect you with friends and family or brands? Why?
loris [4]
I think it’s a platform that helps all people connect with their family but you can also use it for business purposes
6 0
3 years ago
Marketing strategy of strepsils company
QveST [7]

Answer:

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SWOT ANALYSIS ›FMCG ›

Strepsils SWOT Analysis, Competitors, STP & USP

Published by MBA Skool Team, Last Updated: April 20, 2020

SWOT analysis of Strepsils analyses the brand by its strengths, weaknesses, opportunities & threats. In Strepsils SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.

SWOT Analysis is a proven management framework which enables a brand like Strepsils to benchmark its business & performance as compared to the competitors. Strepsils is one of the leading brands in the FMCG sector.

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5 0
3 years ago
Amanda's Interior Design has credit sales of $783,000, costs of goods sold of $418,000, and average accounts receivable of $107,
posledela

Answer:

The 50.30 days are required to take its credit customers to pay for their purchases.

Explanation:

For computing the average collection period, we have to use the formula of the average collection period.

Average collection period = Average accounts receivable ÷ Credit sales × total number of days in a year

= $107,900 ÷ $783,000 × 365

= 0.13780 × 365

= 50.30 days

We assume 365 days in a year

The cost of goods sold is irrelevant. Thus, it is not considered in the computation part.

Hence, 50.30 days are required to take its credit customers to pay for their purchases.

5 0
2 years ago
Scenario 13-6 Ziva is an organic lettuce farmer, but she also spends part of her day as a professional organizing consultant. As
Tamiku [17]

Answer:

The correct answer is:

$380 (D.)

Explanation:

The cost of production of a good or service is the amount used up or forfeited in the production of the good or service. In this scenario, from Ziva used 10 hours for farming and because she dedicated 10 hours, if she had been available for her consultancy service which paid her $25 per hour, she would have earned a total of $250 at the end of the 10 hours she used in farming. In addition, she also spend $130 on the seed that she used for planting, which is the direct cost of farming (production). Hence the total amount given up in the farming process will make up the total cost of farming, and this includes; the $250 given up for consultancy, and the $130 spent on seeds, hence, the total cost of production is;

= 250 + 130 = $380

6 0
3 years ago
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