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lilavasa [31]
3 years ago
8

Michael Co. is a corporation that sells breakfast bars. Based on the accounts listed below, what are Michael's total trade recei

vables? Income tax refund due $ 1,500 Advance due to the company from the company president 1,300 3-month note due from Michael's main customer 12,000 Interest due this month on the above note 1,100 Due and unpaid from this month's sales 19,000 Due and unpaid from last month's sales 11,000 A. $44,600 B. $42,000 C. $31,000 D. $45,900
Business
1 answer:
Thepotemich [5.8K]3 years ago
7 0

Answer:

B. $42,000

Explanation:

Trade receivables refers total amounts that customers of a company are owing the company for goods or services sold to them.

For Michael Co., this can be calculated as follows:

Michael's total trade receivables = 3-month note due from Michael's main customer + Due and unpaid from this month's sales + Due and unpaid from last month's sales

Therefore, we have:

Michael's total trade receivables = $12,000 + $19,000 + 11,000 = $42,000.

Therefore, Michael's total trade receivables is $42,000.

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Suppose $20,000 is deposited into an account paying 4.5% interest, compounded annually. How much money is in the account after f
antiseptic1488 [7]

Money in the account after four years= 23850.372

Given, P = 20,000

R = 4.5%

T = 1

n = 4

To calculate Compound interest, we will use formula A = P(1 + r/n)^nt

where p = principal amount,

r = rates of interest

n =  number of times interest applied per time period

t  =  number of time periods elapsed

After putting values,

A = 20000(1 + 4.5/4  )^(4*1)

= 23850.372

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7 0
1 year ago
Tenpenny Tower was built in 1985. However, the building has been constantly maintained and remodeled. In valuation terms, the bu
sattari [20]

Answer: effective age, chronological age

Explanation:

Effective age is the estimate of the age of a particular structure which is typically based on the condition and the utility of such structure.

Chronological age has to do with the amount of time from the day the building was constructed to the present age.

6 0
3 years ago
A _____ is conducted by marketing researchers to provide background information on other organizations that may have faced simil
marissa [1.9K]

Marketing researchers perform a review of the literature to provide context for other firms that could have encountered related issues.

A marketing researcher is what?

Analysis of data from marketing reports and recommendation-making based on that analysis are the duties of a marketing researcher, also known as a marketing research analyst. Their suggestions assist the marketing staff in project planning and helping to keep the company's consumer base constant.

Numerous marketing researchers also contribute to the creation and execution of marketing content strategies and data analysis of the business, its goods or services, and client purchasing patterns. Being knowledgeable about current marketing trends in one's business and remaining current with new marketing technologies are essential components of every marketing researcher's job.

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8 0
2 years ago
Ginger purchased a single-premium deferred annuity ten years ago at age 45. She used $40,000 of after-tax funds she had accumula
Dmitry_Shevchenko [17]

Ginger will owe income taxes and a 10% penalty on $50,000 of the following statements is correct.

Taxable Amount = ( $90,000 - $40,000 ) = $50,000

As the Distribution of Fund is at age 45 which is less than 59.5 , then it subject to 10% penalty

An income tax is a tax imposed on people or entities in respect of the earnings or income earned by means of them. profits tax usually is computed because the made of a tax charge instances the taxable income. Taxation quotes may additionally vary by kind or characteristics of the taxpayer and the kind of earnings.

For instance, if you earn $1,000 in a kingdom with a flat earnings tax fee of 10%, $one hundred in earnings taxes have to be withheld from your paycheck whilst you earn that profits.

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8 0
2 years ago
Kimbeth Manufacturing uses process costing to control costs in the manufacture of Dust Sensors for the mining industry. The foll
larisa86 [58]

Answer:

DM Cost per Equivalent unit: 4.25

Explanation:

22400 beginning  60% materials 20% conversion

140,000 started

33600 ending 90% materials 40% conversion

Beginning Inventory

DM 71,160

DL 26,610

MO 20,110

Conversion Cost  46,720

Cost during the month

DM 618,800

DL 241,330

MO 513,600

Conversion Cost 754,930

Equivalent units Materials

22,400 * .4     8,960

140,000       140,000

33,600 * .1    (3,360)

                  145,600

DM Cost per Equivalent unit: 4.25

7 0
4 years ago
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