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
prohojiy [21]
3 years ago
6

On January 1, Year 2 Grande Company had a $15,000 balance in the Accounts Receivable account and a zero balance in the Allowance

for Doubtful Accounts account. During Year 2, Grande provided $66,000 of service on account. The company collected $62,500 cash from accounts receivable. Uncollectible accounts are estimated to be 2% of sales on account. What is the amount of cash flow from operating activities that would appear on the Year 2 statement of cash flows? Multiple Choice $62,500 $61,250 $66,000 $51,300
Business
1 answer:
hjlf3 years ago
3 0

Answer:

$62,500

Explanation:

As we know that cash flow statement records the cash inflow and cash outflow and ignored all other transactions which are not made in cash

Since in the question it is given that $62,500 is cash collected from account receivable and the same is to be shown in the operating activities in a positive sign that indicates an inflow of cash

You might be interested in
Required information Use the following information for the Exercises below. Skip to question [The following information applies
Lyrx [107]

Answer:

Follows are the solution to this question:

Explanation:

In point A:

The estimated amount of uncollectible allowance =\$ \  635,000 \times 4 \% = \$ \ 2,540,000

In point B                                    Journal

Titles and descriptions of accounts         Debit          Credit         Calculation    

Expenditure on bad debts                \$ \ 2,526,700

Doubted debt allowance                          \$ \ 2,526,700 \  \   (\$ \ 2,540,000 - \$ \ 13,300)

(Bad Debts Expense recorded)  

In point C                                         Journal

Titles and descriptions of accounts         Debit          Credit         Calculation    

Expenditure on bad debts               \$ \ 2,553, 300

Doubted debt allowance                        \$ \ 2,553, 300     \ \ \ \ (\$ \ 2,540,000 + \$ \ 13,300)    

(Bad Debts Expense recorded)  

5 0
3 years ago
the process of using information to link customers, consumers, and the public to the marketer is referred to as _____.
Olegator [25]

Answer:

the process of using information to link customers, consumers, and the public to the marketer is referred to as marketing Research!!

go for it!!

8 0
3 years ago
The real per capita GDP in country X is 4 times of that in country Y. The annual growth rate in country X is 2.33%, while in cou
tigry1 [53]

Answer:

It will take 30 years for country Y’s GDP to catch up with that of country X

Explanation:

In this question. We are asked to calculate the number of years it will take a certain country Y to catch up with the GDP of a certain country X, given the annual growth rate in both countries.

We calculate the number of years as follows;

Firstly, we assign a variable to the value of the real GDP of country Y

let real

Let the real GDP of the country Y be n. This means that the GDP of country C will be 4 * n = 4n

With a 7% growth rate annual, country Y's Real GDP will be doubled in 70/7 = 10 years and;

With annual growth rate of 2.33% ,country x's Real GDP doubles in 70/2.33 = 30 years.(Approx)

Now in next 30 years x's Real GDP will be = 2x4n = 8n

and Y's Real GDP in next 30 years will be = 2x2x2xn = 8n.

thus , it will take 30 years to country Y to catch up to the level of country x.

7 0
3 years ago
Read 2 more answers
Smith, inc., has maintained an ownership interest in watts corporation for a number of years. this investment has been accounted
Elenna [48]
The amount that the company is worth at that exact time
4 0
4 years ago
Demand pull inflation can be started by A. an increase in the price of oil B. a decrease in the quantity of money. C. an increas
devlian [24]

Answer:

Option "C" is correct.

Explanation:

An increase in government expenditure causes more money inflow on demand over supply.

6 0
3 years ago
Other questions:
  • Three entrepreneurs were looking to start a new brewpub near sacramento, california, called roseville brewing company (rbc). bre
    8·1 answer
  • Prepare general journal entries to record the following transactions for the Harris
    13·2 answers
  • Some entrepreneurs Invent Innovative
    7·1 answer
  • The government wants to set the socially optimal level of nitrogen runoff, and government regulators believe that the actual mar
    15·1 answer
  • An economic system that operates mainly on private transactions where firms are free to make their own production, distribution
    5·1 answer
  • Sunset Acres reported net income of $60 million. Included in that number were trademark amortization expense of $2 million and a
    14·1 answer
  • This question, used by solution focused therapist, is intended to circumvent clients global and unremitting perceptions of the p
    13·1 answer
  • 3) Compute the annual allowable depreciation using the straight line method for a machine that costs $86,000 to purchase and $7,
    15·1 answer
  • What is an advantage of taking out a long-term loan instead of a short-term
    15·1 answer
  • The approach to decision making that involves soliciting input from a network of people outside of the organization is called
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!