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MArishka [77]
3 years ago
15

A company has the following balances on December 31, 2021, after year-end adjustments: Accounts Receivable = $77,000; Service Re

venue = $450,000; Allowance for Uncollectible Accounts = $5,000; Cash = $25,000. Calculate net accounts receivable.
Business
1 answer:
ValentinkaMS [17]3 years ago
3 0

Answer:

$72,000

Explanation:

Allowance for Uncollectible Accounts is a value that a business estimates to be unrecoverable every year, company decided a percentage of receivable or credit sales to record this allowance.

As per given data

Accounts Receivable = $77,000

Service Revenue = $450,000

Allowance for Uncollectible Accounts = $5,000

Cash = $25,000.

Allowance for Uncollectible Accounts is a contra asst account and it has credit balance. Its balance is adjusted against the receivables value to make net receivable amount for the business.

Net Account Receivable = Accounts Receivable - Allowance for Uncollectible Accounts = $77,000 - $5,000 = $72,000

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List two questions belonging to the field of morality
Liono4ka [1.6K]

Answer:

here are some.questions.below

Explanation:

What does it mean to be morally right or morally wrong?

To what extent do we learn these ideas of right wrong from our environment? ...

Are there actions you believe are always morally wrong?

3 0
3 years ago
Joe must pay liabilities of 1,000 due one year from now and another 2,000 due three years from now. There are two available inve
kari74 [83]

Answer:

1. 2,584

Explanation:

future payments: $1,000 in 1 year and $2,000 in 3 years

the present value of alternative I (one year bond):

$1,000 / 1.06 = $943.40

the present value of alternative II (first 2 years and then 1 year):

$2,000 / 1.065 = $1,877.93 ⇒ PV at year 2

PV at year 0 = $1,877.93 / 1.07² = $1,640.26

the total present value of both options = $943.40 + $1,640.26 = $2,583.66 ≈ $2,584

4 0
3 years ago
Haberdashery Company has a beginning Work-in-Process Inventory of 37,000 units (40% complete). During the period, 122,000 units
Nataly [62]

Answer:

152,600 units

Explanation:

Weighted average costing adds the value of beginning inventory in the period cost to calculate the average cost per unit.

According to this method the equivalent units formula is as follow

Equivalent Units  = Unit completed and transferred to Finished goods + Units in Work in Process x Completion percentage

Units Completed in the period = 37,000 + 122,000 - 32,000 = 127,000

Equivalent Units  = 127,000 + (32,000 x 80%) = 152,600 units

5 0
3 years ago
Assume a market is in equilibrium. There is an increase in supply, but no change in demand As a result the equilibrium price ___
cluponka [151]
It is number D because if there’s an increase in supply but not change in demand then the equilibrium price will rise and the quantity will increase
5 0
3 years ago
For a nail salon, the costs associated with the purchase of nail polish and other products like polish remover and disposable fl
ira [324]

Answer: Variable cost; should be considered

Explanation:

For a nail salon, the costs associated with the purchase of nail polish and other products like polish remover and disposable flip flops are examples of variable costs. These should be considered when building a MCS.

Variable costs are the costs that varies with production. They are the opposite of fixed costs which are fixed. The nail polish and other products like polish remover and disposable flip flops are variable costs because the amount that'll be bought depends on the available customers and therefore isn't fixed.

6 0
3 years ago
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