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
elena-14-01-66 [18.8K]
3 years ago
7

On March 31, Vale Co. had an unadjusted credit balance of $1,000 in its allowance for credit losses. An analysis of Vale’s trade

accounts receivable at that date revealed the following: Estimated Age Amount Uncollectible 0-30 days $60,000 5% 31-60 days 4,000 10% Over 60 days 2,000 70% What amount should Vale report as allowance for credit losses in its March 31 balance sheet?
Business
1 answer:
koban [17]3 years ago
6 0

Answer:

$4,800

Explanation:

Amount to be reported under the age of 0-30 days:

= Amount × Estimated uncollectible

= $60,000 × 5%

= $3,000

Amount to be reported under the age of 31-60 days:

= Amount × Estimated uncollectible

= $4,000 × 10%

= $400

Amount to be reported under the age of over 60 days:

= Amount × Estimated uncollectible

= $2,000 × 70%

= $1,400

Therefore, the total amount reported is calculated as follows:

= Amount to be reported under the age of 0-30 days + Amount to be reported under the age of 31-60 days + Amount to be reported under the age of over 60 days

= $3,000 + $400 + $1,400

= $4,800

You might be interested in
Helen, who is single, is considering purchasing a residence that will provide an $18,000 tax deduction for property taxes and mo
GenaCL600 [577]

Answer:

amount of tax saving is $4320

Explanation:

given data

tax deduction = $18000

marginal tax rate = 24%

effective tax rate = 20%

to find out

amount of tax saving

solution

we know tax saving formula that is

tax saving = tax deduction × marginal tax  ........................1

so now put here all value in equation 1

tax saving = tax deduction × marginal tax

tax saving = 18000 × 24%

tax saving = 18000 × 0.24

tax saving = 4320

so amount of tax saving is $4320

4 0
3 years ago
When the president issues a rule or regulation that reorganizes or otherwise directs the affairs of the executive branch?
oksano4ka [1.4K]
What you described is called an executive order. The president can do this whenever he wants and if it's unconstitutional then the congress and the judiciary system, more specific the Supreme Court, can overthrow this and ban the executive order because it's considered to be unconstitutional or harmful. The president can use this for almost anything.
4 0
3 years ago
Read 2 more answers
Please answer thank you !
Darina [25.2K]

Answer:

its the 1st one

7 0
3 years ago
Draw a correctly labeled loanable funds graph that shows what happens to real interest rates for each of the following situation
Arlecino [84]

Answer:

1. a) War increases demand for loanable funds, demand curve shifts RIGHT. (Increase in real interest rate)

b) Private investors are optimistic about the economy (i.e. investment opportunities). Demand for loanable funds increases, demand curve shifts RIGHT. (Increase in real interest rate)

c) Tax increase means a decrease in the supply about loanable funds. Supply curve shifts LEFT. (Increase in real interest rate)

2. would most likely increase the supply of loanable funds. If Americans are saving more, then they are spending less money and investing more of it. Remember--saving does not mean "not using it". It means investing it instead of consuming.

3. The interest rate will fall. There is a surplus of loanable funds and the real interest rate will reflect this surplus by falling.

4. decrease in the demand for loanable funds. When output decreases, the return on investment for new projects decreases and investors are less in need of money to fund their ventures.

5. decrease the supply for loanable funds. If they are consuming more, they are saving less.

6. Increase / Decrease. When interest rates increase, growth is reduced because funding economic ventures is now more costly. Sometimes the fed will increase interest rates when it anticipates inflation to increase in order to mitigate economic growth.

Hope this was helpful!

Explanation:

5 0
3 years ago
Which of the following is an example of proper texting etiquette?
Rudik [331]

Answer:

a.

Explanation:

From all of the answers provided it can be said that the one that is an example of proper texting etiquette would be applying the same timing guidelines to sending and receiving text messages that you would for speaking on the phone (such as not during a meeting or when in a social setting). Individuals want to receive a response to their text as soon as possible but at the same time do not want to be disturbed when they are in an important meeting, therefore knowing when and when not to send a message is just part of proper texting etiquette.

5 0
3 years ago
Other questions:
  • On June 30, Sharper Corporation’s stockholders' equity section of its balance sheet appears as follows before any stock dividend
    14·1 answer
  • Which of the following is the BEST statement about marketing and selling?
    6·1 answer
  • The marginal benefit of an additional beach towel is $12. The marginal cost of producing an additional beach towel is $8. If pro
    13·1 answer
  • A father wants to save for his eight?year?old son�s college expenses. The son will enter college 10 years from now. An annual am
    11·1 answer
  • All of the following are functions of a knowledge management system EXCEPT: a. designing information systems. b. improving colla
    13·1 answer
  • Cowboy, Inc., an American corporation that produces cowboy hats contract with a manufacturing plant in France, Beret, Inc. The c
    9·1 answer
  • Precision Company estimates its machine-hour requirements for the four quarters to be 35,000 hours, 20,000 hours, 15,000 hours,
    14·1 answer
  • A normative economic statement can be proved or disproved by reference to facts?
    9·1 answer
  • For 2012, Everyday Electronics reported $22.5 million on sales and $18 million of operating costs (including depreciation). The
    10·1 answer
  • As a gift from your parents, you just received $50,000 for your education. You can earn an annual rate of 8% on your investments
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!