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zaharov [31]
3 years ago
10

As of January 1, 2021, Farley Co. had a credit balance of $523,000 in its allowance for uncollectible accounts. Based on experie

nce, 3% of Farley's credit sales have been uncollectible. During 2021, Farley wrote off $636,000 of accounts receivable. Credit sales for 2021 were $19,400,000. In its December 31, 2021, balance sheet, what amount should Farley report as allowance for uncollectible accounts?
Business
1 answer:
trapecia [35]3 years ago
4 0

Answer:

Balance sheet, what amount should Farley report as allowance for uncollectible accounts?

if we take the final balance of accounts receivable   $582000

If the wrotte off difference affects the final balance and we do not register additional expenses. $469000

Explanation:

Credit balance allownace  523000

Allowance for uncollective 3%

 

Wrotte off                               636000

 

Credit sales                         19400000

Allowance for uncollective              3%

                                             582000

 

 

Credit balance                        523000

Wrotte off                                636000

                                             -113000

 

Allownace for uncollectible      469000

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Write the AddressList method newBusiness. This method searches addresses for an existing business with an identical address (i.e
max2010maxim [7]

Answer:

See explaination

Explanation:

// Address.java

public class Address {

/**

* The name of the business

*/

private String name;

/**

* The name of the street the business is on

*/

private String street;

/**

* The street number of the business

*/

private int number;

/**

* Constructs an Address that represents a business with name nm,

* at number no on the street st

*/

public Address(String nm, String st, int no)

{

name = nm;

street = st;

number = no;

}

/**

* Returns the name of the business

*/

public String getName()

{

return name;

}

/**

* Returns the name of the street on which the business is located

*/

public String getStreet()

{

return street;

}

/**

* Returns the street number of the business

*/

public int getNumber()

{

return number;

}

}

//end of Address.java

//AddressBook.java

import java.util.ArrayList;

import java.util.List;

public class AddressBook {

/**

* The list of business addresses. No two businesses in the list

* can have the same address (both the same street and street number)

*/

private List<Address> addresses;

/**

* Constructs an empty AddressBook

*/

public AddressBook()

{

addresses = new ArrayList<Address>();

}

/**

* atparam st the name of a street

* atreturn a list with the names of each business with an address on that street

*/

public List<String> onStreet(String st)

{

// create an empty output list of names of business

List<String> businessName = new ArrayList<String>();

// loop over the list of addresses

for(int i=0;i<addresses.size();i++)

{

// if ith street of address = nm, add the name of the business to the output list

if(addresses.get(i).getStreet().equalsIgnoreCase(st))

businessName.add(addresses.get(i).getName());

}

return businessName; // return the list

}

/**

* Searches for an existing business with an identical address (street and number

* both match). Updates the record to an address with name nm, street st and number no.

* If no entry already exists adds a new address to the end of the list with these parameters.

*

* atparam nm the name of the business

* atparam st the street the business is on

* atparam no the street number of the business

* atreturn the index of where the business address is on the list

*/

public int newBusiness(String nm, String st, int no)

{

// loop over the list of addresses

for(int i=0;i<addresses.size();i++)

{

// if ith index addresses match the street and number of the input st and no

if((addresses.get(i).getStreet().equalsIgnoreCase(st)) && (addresses.get(i).getNumber() == no))

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addresses.remove(i); // remove the ith address from list

addresses.add(i, new Address(nm,st,no)); // add a new address with the input name, street and number at ith index

return i; // return the index i

}

}

// if no address match, add the business at the end of the list

addresses.add(new Address(nm,st,no));

return addresses.size()-1; // return the last index

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//end of AddressBook.java

5 0
3 years ago
Julie wants to create a $5,000 portfolio. She also wants to invest as much as possible in a high risk stock with the hope of ear
svetoff [14.1K]

Answer:

C) Invest $2500 in a risk free asset and $2500 in a stock with beta of 2.0

Explanation:

Stock that is beta 2 means that it is twice as volatile as the whole market. Meaning for example if the market is expected to move by 5% this stock will move 10%. New startup firms that are fast-growing usually have stocks in this category. It is more risky thank normal shares but no too much. We can invest $2,500 here.

We invest the remaining $2,500 in risk-free assets

This is a backup on the chance that the investment on beta 2 stocks do not perform, the risk-free assets will make up for losses.

3 0
3 years ago
Niles Co. has the following data related to an item of inventory: Inventory, March 1 110 units @ $1.10 Purchase, March 7 210 uni
pantera1 [17]

Answer:

The value assigned to ending inventory if Niles uses "weighted average" is $320 ( to 160 units @ $2 )

Explanation:                  Number of units    Price per unit    Total

Purchases on March 1 =         110                     $1.10               $1,21

Purchases March 7      =         210                    $2.10              $441

Purchases March 16    =         110                     $2.70              $297  

Inventory on March 31 =        160                    $2.00             $320

Weighted Average Inventory value = Accumulated Value / Total Number of units

Weighted Average Inventory value = ( 121 + 441 + 297 ) / ( 110 + 210 + 110 )

Weighted Average Inventory value = 1.997674419 = $2.00

7 0
3 years ago
Analysis of a company's financial statements: Below are simplified versions of the balance sheet and income statement for Toys b
il63 [147K]

Answer:

The answer is:

A 15% increase in inventory turns for Toys by Tom, Inc. would bring this ratio to 4.8 times, suggesting improvement in efficiency.

Explanation:

We have the current Inventory turnover = COGS / Inventory = 41,700/10,000 = 4.17 times

=> An 15% increase in the Inventory turnover will bring the Inventory turnover ratio to: 4.17 x 1.15 = 4.8 times;

Increasing in inventory turnover may be the result of higher sales ( thus higher COGS) or low level of inventory holding - thus limiting the resources spending on idle inventory. So, higher level of inventory turnover in someways suggesting improvement in efficiency.

6 0
3 years ago
In union terms, a direct strike occurs:
Alex_Xolod [135]

Answer:

. when an organized body of workers withholds its labor to force the employer to comply with its demands.

Explanation:

6 0
3 years ago
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