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
bearhunter [10]
4 years ago
6

g "At the start of the current year, Minuteman Corporation had a credit balance in the Allowance for Doubtful Accounts of $3,500

. During the year a monthly provision of 3% of sales was made for uncollectible accounts. Sales for the year were $1,110,000, and $7,200 of accounts receivable were written off as worthless. No recoveries of accounts previously written off were made during the year. The year-end financial statements should show:"
Business
1 answer:
nordsb [41]4 years ago
6 0

Answer: Allowance for the doubtful accounts with a credit balance of $29,600

Explanation:

From the information that is provided in the question, the following can be deduced and the year-end financial statements should show:

Allowance for the doubtful accounts with a credit balance will be calculated as: the beginning allowance for the doubtful accounts + (the sales × Provision % ) - accounts receivable that were written off.

= $3,500 + ($1,110,000 × 3%) - $7,200

= $3500 + $33300 - $7200

= $36800 - $7200

= $29,600

You might be interested in
When other salespeople believe that a sales manager has valuable knowledge or skills in a given area, the sales manager is able
netineya [11]

Answer:

The correct answer is: expert power.

Explanation:

Expert power is power derived from the belief of workers that a manager or some other member of an organization has a high level of knowledge or some sort of unusual skills not acquired or displayed by other employees or coworkers of the company. This provides the skilled worker a certain influence at the moment of deciding workers of the same hierarchy.

6 0
4 years ago
A number of activities that are a part of a company's quality control system are listed below.
Karolina [17]

Answer:

Following is the classification of  the costs associated with each of these activities that is prevention cost, appraisal cost, internal failure cost, or external failure cost.

(a) Product testing  - Appraisal Cost

(b) Product recall  - External Failures

(c) Product design  - Prevention cost

(d) Quality circle  - Prevention cost

(e) Inspection of goods - Appraisal Cost

Explantion cost:

Appraisal costs are costs incurred to detect defects in the poduct produce. Prevention cost are cost incurred to prevent detects in the product produce.

Internal failure costs are costs incurred to remove defects found before the customer receives the product or service. External failure costs are costs incurred to remove defects found after the customer receives the product or service.

8 0
3 years ago
Organizational effectiveness is a _________, meaning that it is created and defined by an individual or group rather than existi
vova2212 [387]

Answer: Social construct

Explanation:

The organizational effectiveness is the social construct that it is basically defined by the individual and groups instead of existing in external world independently.  

Social construct basically influence the organization for their actual rights and actions. Basically, it is the idea which are accepted and created by the society people.

In the social construct all the people unite together rather than exist independently. It basically assign notion and meaning that are assign to each object in the environment.

6 0
3 years ago
Isabel Lopez from Lewiston, Idaho, who is 19 years old, recently received an inheritance of $54,000 from her grandmother's estat
Zielflug [23.3K]

Answer:

She will have $16,772.59 more in the second investment.

Explanation:

Giving the following information:

Recently she received an inheritance of $54,000 from her grandmother's estate. She plans to use the money for the down payment on a home in ten years when she finishes her education.

We need to use the following formula:

FV= PV*(1+i)^n

First savings account:

FV= 54,000*(1+0.04)^10= $79,933.19

Second investment:

FV= 54,000*(1+0.06)^10= $96,705.78

She will have (96,705.78 - 79,933.19) $16,772.59 more in the second investment.

3 0
3 years ago
Minerals are structurally simple, inorganic substances that exist as groups of one or more of the same atoms. In chemistry, what
olga_2 [115]

Answer:

The substance does not contain carbon .

Explanation:

Usually, an inorganic substance is a type of chemical substance that loses bonds with carbon-hydrogen, that is, a product that is not biological.

  • The difference, though, is not defined and accepted, and experts have varying views on the matter.
  • An inorganic compound, any material which generally combines two or more chemical compounds other than carbon, almost always in clear and obvious percentages.

5 0
3 years ago
Read 2 more answers
Other questions:
  • What are ethics? how would they apply to business and technology?
    11·1 answer
  • The primary purpose of the life insurance replacement regulation is to protect the
    14·1 answer
  • John, a construction manager, has been having problems finding quality employees in some of the company's foreign offices. while
    12·1 answer
  • A representative from AT&T called Dr. Michaels after he switched to its new U-verse telephone system. The firm wanted to mak
    14·1 answer
  • Jameson works for Fishy-Mart Corporation, a chain of superstores that sell large quantities of seafood. His job is to locate fut
    11·1 answer
  • Innovation takes dedicated effort and resources, and organizations that are successful at it tend to be set up in ways that natu
    14·1 answer
  • Scenario 1 Your deliveries to retail stores have not been on time lately, and neither have the departures of loaded trucks from
    6·1 answer
  • Skysong, Inc. reported net income of $194,500 for 2020. Skysong also reported depreciation expense of $47,500 and a loss of $6,2
    15·1 answer
  • Choose those characteristics that best describe a command system. Multiple select question. The division of output between capit
    12·1 answer
  • The opportunity cost of buying a ticket to a major league baseball game and then going to the game is:________
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!