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2 years ago

A table of notes receivable for 2018 follows:

Business

1 answer:

Natasha2012 [34]2 years ago

4 0

Answer:

The interest revenue is $ 300+$315.62+$887.67+$4500= $ 6003.29

Explanation:

Note 1 : Interest Revenue = $ 30,000 * 4% *3/12= $ 300

Note 2 : Interest Revenue= $ 16,000 * 8 % *90/365= $ 315.62

Note 3: Interest Revenue= $ 18,000 * 10% *180/365= $ 887.67

Note 4: Interest Revenue= $ 150,000 * 12% *6/12= $ 4500

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Wisconsin Company collected $42,000 cash on its accounts receivable. The effects of this transaction are: Multiple Choice Both t

Bas_tet [7]

Answer:

Option Total assets, total liabilities, and equity are unchanged.

Explanation:

The reason is that the double entry to record this transaction is as under:

Dr Cash Account $42,000

Cr Accounts Receivable $42,000

Hence there increase in one asset and decrease in other asset will have zero net impact on assets. As equity and liabilities are not effected by the transaction, hence they will also remain unchanged.

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3 years ago

Fernandez Company had an accounts receivable balance of $150,000 on December 31, Year 2 and $175,000 on December 31, Year 3.

Mars2501 [29]

Answer:

The amount collected from customers on accounts receivable during year 3 is $535,000.

Explanation:

Cash received from accounts receivable = Opening balance of AR + Credit Sales - Bad debts written off - Closing balance of AR.

The opening balance for year 3 account receivables was 150000.
Credit Sales = 600000
Bad debts = 40000
Closing Balance = 175000

We can solve this question either by making a T account for accounts receivable or using the equation given above.

Cash = 150000 + 600000 - 40000 - 175000 = $535000

4 0

2 years ago

Read 2 more answers

During the month of February, Rubio Services had cash receipts of $7,900 and cash disbursements of $9,400. The February 28 cash

Nana76 [90]

Answer:

The begining cash balance = $4100

Explanation:

Given:

Cash receipts = $7900, Cash disbursements = $ 9400, Ending cash balance = $2600.

To find out the cash balance at the begining of the month, the following is to be used

Begining Cash balance = Ending cash balance + cash disbursements - cash receipts

Putting the given figures in this we get,

Begining Cash balance = $2600 + $9400 - $7900

= $4100

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2 years ago

Jacob Company sold a $1,000 par value, non-callable bond that has 20 years to maturity and a 7.00% annual coupon that is paid an

ratelena [41]

Answer:

4.64%

Explanation:

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3 years ago

To handle products in the decline stage of the product life cycle, companies often use either a ________ strategy or a ________

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To handle products in the decline stage of the product life cycle, companies often use either a divesting strategy or a harvesting strategy.

The rate of decline is governed by means of two factors: the charge of alternate customer tastes and the fee at which new products are input into the market. Sony VCRs is an instance of a product within the decline degree. The call for VCRs has now been surpassed through the demand for DVDs and online streaming of content material.

Decline techniques are also known as protective techniques and are pursued when a business enterprise finds itself in an inclined position as a result of negative management, inefficiency, and ineffectiveness.

Learn more about the business here: brainly.com/question/24448358

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5 months ago