All categories

3 years ago

Receivables; bad debts and returns; Symantec [LO7-4, LO7-5]

Business

1 answer:

Hitman42 [59]3 years ago

6 0

Answer:

1. Accounts receivable due = Accounts receivable + Allowances

2008

= 760,100 + 26,259

= $786,359

2009

= 840,810 + 23,936

= $864,746

2. Amount of receivable written off = Beginning balance for Allowance for doubtful accounts + Bad debt - Closing balance for allowance for doubtful accounts

= 9,200 + 3,400 - 9,148

= $3,452

3. Gross sales = Net Sales + Sales returns

Sales Returns = Closing balance for reserve for product returns + goods returned - Opening balance for reserve for product returns

= 14,788 + 3,440 - 17,059

= $1,169

Gross sales in 2009 = 6,244,800 + 1,169

= $‭6,245,969‬

4. Cash collected = Credit Sales - Goods returned - Bad debts written off - Ending receivables balance + Beginning receivables balance

= ‭6,245,969‬ - 3,440 - 3,452 - 864,746 + 786,359

= $‭6,160,690‬

You might be interested in

A jewelry store has 107.25 ounces of 14-carat gold in stock

horsena [70]

Answer:Superior Exchange in New Haven is a High Paying Buyer and Pawnbroker specialist who are among the top Jewelry Buyers, Precious Metal Buyers, Electronics Buyers, Gold Buyers, Art Buyers and Antique Buyers in Connecticut. Aside from buying, selling and Pawning on anything of value. We strive to be a pawnbroker specialists you can trust, where instant payment is always available with as many Pawns as possible.

Explanation:

5 0

3 years ago

When using the IDRC to assess the external environment the company will look at which of the following?

SpyIntel [72]

Answer: Knowledge

Explanation: IDRC engages in expertise, creativity, and strategies to increase the quality of life in developing countries as a segment of Canada's international affairs and development activities. IDRC aims to address realistic development issues with the brilliant minds in Canada and across the globe.

In addition to promoting global stability and development, partnering with local academic institutions and financing agencies effectively decreases reliance on assistance while establishing political leadership.

Thus, from the above we can conclude that the primary focus in the program is on knowledge.

3 0

3 years ago

Clients are increasingly asking advertisers for ______, agreements on campaign-specific outcomes and consensus on how the effect

Minchanka [31]

Answer:

accountability metrics

Explanation:

Accountability metrics are used by companies to measure the specific financial results of marketing campaigns. Marketing campaigns are expensive and require a lot of resources, both financial and labor resources, and as competition between producers increases, so does competition among marketing firms. The best way a marketing firm can increase its clients is by showing that their campaigns are effective, so every dollar invested by their clients will generate positive returns.

6 0

3 years ago

A preferred stock sells for $54.20 a share and has a market return of 9.68 percent. What is the dividend amount

kolbaska11 [484]

Answer:

$5.25

Explanation:

A preferred stock is sold at $54.20

The market return is 9.68%

Therefore the dividend amount can be calculated as follows

= 54.20 × 9.68/100

= 54.20 × 0.0968

= $5.25

Hence the dividend amount is $5.25

6 0

2 years ago

Four months ago, you purchased 1,300 shares of lakeside bank stock for $23.32 a share. you have received dividend payments equal

Marina CMI [18]

<span>If I purchased 1,300 shares of lakeside bank stock for $23.32 a share. The total worth of the share is 1, 300 * 23.32 = $30, 316. Okay I received payments dividend worth 0.61 a share; that becomes 0.61 * 23.32 = $14.2252. I sold 1, 300 shares for $24.32. So I sold it for 1, 300 * 24.32 = $31616. My total return = (Amount I sold the share + dividend received) - Amount I bought the share. So we have (31616 + 14.2552) - 30316 = $31630.2552 - $ 30, 316 = $1314.2552</span>

7 0

3 years ago