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Vesnalui [34]
3 years ago
10

If an account is collected after having been previously written off:

Business
2 answers:
Orlov [11]3 years ago
8 0

Answer:

d. there will be both a debit and a credit to accounts receivable.

Explanation:

Bad debt is defined as the portion of accounts receivable that is considered to be lost and is written off as a loss to the business within a given period.

When a bad debt is written off it impacts directly on the profit of the business.

If an account has been collected after previously being written off, there will be a credit to accounts receivable to show an increase in a recievable by the business.

Also there is a debit to accounts receivable to show that the recovered funds has been moved to profit or revenue account of the business.

siniylev [52]3 years ago
7 0

Answer:

There will be both a debit and a credit to accounts receivables ( D )

Explanation:

The accounts receivable should be debited and credited because when an account has been written off it is considered a bad debit ( account that is lost to debt or cannot be collected or retrieved  by the company from the debtor ) and Bad debits are debited in the accounts receivables.

When an account written off ( bad debit ) is collected by the company the accounts receivables should be credited in order to offset the bad debit that was previously debited in the accounts receivables of the company. this is necessary so that the collected account will reflect on the Revenue of the  company.  

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A manuscript is sent to a typing firm consisting of typists A, B and C. If it is typed by A, then the number of errors made is a
spin [16.1K]

Answer:

(a) E(X) = 3

(b) Var(X) = 12.1067

Explanation:

(a) E[X]

E[X]T = E[X]T=A + E[X]T=B + E[X]T=C

         = (2.6 + 3 + 3.4)/3

         = 2.6 (1/3) + 3(1/3) + 3.4(1/3)

         = 2.6/3 + 1 + 3.4/3

         = 3

(b) Var (X) = E[X²]−(E[X])²

Recall that if Y ∼ Pois(λ), then E[Y 2] = λ+λ2. This implies that

E[X²] = [(2.6 + 2.6²) + (3 + 3²) + (3.4 + 3.4²)]/3

         = (9.36 + 12 + 14.96)/3

         = 36.32/3

         = 12.1067

Var(X) = E[X²]−(E[X])²

          = 12 - 3²

          = 12.1067 - 9

          = 3.1067

8 0
3 years ago
Mutual savings banks are primarily regulated by
ziro4ka [17]

Mutual savings banks are primarily regulated by the states in which they are located.

 

<span>To add, a </span>mutual savings bank<span> is a financial institution chartered by a central or regional government, without capital stock, that is owned by its members who subscribe to a common fund. From this fund claims, loans, etc., are paid. Profits after deductions are shared among the members.</span>

5 0
2 years ago
When there is a challenge, Luis is up for it. Deadlines and complex tasks that would send others running are enjoyable to Luis,
frez [133]

Answer: internal locus of control

                             

Explanation: There is a phenomenon known as the locus of control throughout the psychological literature that is new for most people, although it is universally understood once it is described.

Locus of influence is the system of beliefs of a person about the reasons of his or her experiences and the reasons that the participant contributes to final outcome.

Typically, this definition is separated into two categories: internal and external. If an individual has an internal control locus, that person will assign success to their own contributions and capabilities.

6 0
2 years ago
Top Shelf Company builds oak bookcases. Determine whether each of the following is a direct material (DM), direct labor (DL), ma
Veronika [31]

Answer:

(1) Depreciation on factory equipment. ____MOH

(2) Depreciation on delivery trucks. ____ Period Cost

(3) Wood used to build a bookcase. ____Direct Material

(4) Production supervisor’s salary. ____ MOH

(5) Glue and screws used in the bookcases. ____ MOH

(6) Wages of persons who assemble the bookcases. ____Direct Labor

(7) Cost to run an ad on local radio stations. ____Period Cost

(8) Rent for the factory. ____ MOH

(9) CEO’s salary. ____ Period Cost

(10) Wages of person who sands the wood after it is cut. Direct Labor

Period Cost are costs that are not directly involved in the manufacturing costs of a product but are incurred in a particular  period. These expenses include advertising and selling expenses.

Direct Materials are material used to make a product . For example wood is a direct material for making shelves.

Direct Labor are the wages paid to the people who work in the production of a product.

Manufacturing Overheads are charges associated with the manufacturing of a product.they are indirect costs of the production like rent of the building etc.

 

4 0
3 years ago
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Sergio [31]

Answer:

D) $150,000

Explanation:

Insurance proceeds that are not reinvested in replacing damaged property are taxed. Apparently Prime corporation didn't reinvest into replacing the property, so this transaction should be taxed as a property sale. Prime received $400,000 for the building with a $350,000 basis which results in a net gain = $50,000.

The other $100,000 were given as replacement income and therefore should be taxed as such.

So the total taxable amount = $50,000 + $100,000 = $150,000

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3 years ago
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