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3 years ago

Compute whiz company's adjusted cash balance per books based on the following information:

Business

1 answer:

Romashka [77]3 years ago

6 0

Hey there!

Beginning: $4,200

Deposit in transit: not counted for ACB

Check printing charge: -$20

Note collected by bank of whiz: -$1,600

4,200 - 20 - 1,600 = 2,580

Adjusted cash balance = $2,580

Hope this helps!

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nancy compnay has a balance of 15000 in accounts receivable on december 31, of which 1500 is more than 30 days overdue

kompoz [17]

The company's Allowance for Doubtful Accounts has a starting debit balance of $45 dollars. They calculate that 1% of current accounts and 10% of accounts older than thirty days are uncollectible.

Doubtful Accounts
A doubtful account is one on which you are due payment but are unsure if your company will actually receive it. To put it another way, the debt is what you might have to write off and take a loss on.
Businesses have questionable accounts for a variety of reasons, including
Unsatisfactory Service: If a consumer is unhappy with the caliber of your goods, services, or supplies, they may complain and decide to postpone paying you until the problem is remedied.
Financial Crisis: A client may experience financial difficulty and file for bankruptcy or insolvency.

To learn more about Doubtful Accounts
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6 0

2 years ago

The June 30, 2021, year-end trial balance for Askew company contained the following information: Account Debit Credit Inventory,

Black_prince [1.1K]

Answer:

Cost of Goods Sold: $245,000

Explanation:

Cost of Goods Sold refers to the direct costs that are incurred when producing the goods sold by a particular company. It includes many costs such as beginning inventory, purchases, purchase returns, discounts on purchases, freight inwards and ending inventory. COGS is also referred to as cost of sales.

Freight inwards are any transportation costs that are incurred when bringing in purchases, hence this is added to purchases. Purchase returns are deducted since they are being returned and hence not a cost. Purchase discounts are also deducted. Ending inventory is the amount of inventory which is remaining and has not been used, thus, this too is deducted.

The calculation for COGS is provided below step-by-step:

1. Beginning inventory : $33200

2. Purchases : $252000

3. Purchase returns : ($11200)

4. Purchase discounts : ($7200)

5. Freight inwards : $19400

6. Ending inventory : ($41200)

Cost of Goods Sold = $245,000

3 0

3 years ago

Giant Company has three products, A, B, and C. The following information is available:

myrzilka [38]

Answer:

$24,000

Explanation:

Product A Product B Product C

sales 70,000 97000

Variable cost 37000 51000

Contribution margin 33000 46000

Avoidable cost 10,000 20000

Unavoidable cost 7000 12000 9400

Operating income 16000 14000

Total operating income if product C is dropped is (16000+14000 +3400-9400)

=$24000

Please note that Giant company with still incur the unavoidable cost even if the product is dropped. This is assumed to be a portion of the fixed overhead expenses allocated to the product in the course of normal operation.However , the loss made of 3400 will be avoided as well

7 0

3 years ago

An experiment is designed to compare the average salaries of employees in a particular position in two competing companies. The

bazaltina [42]

If the null hyp. assumes equal average salaries (i.e. no difference), then the alternative can take on three cases: (1) one mean is greater than the other, (2), one mean is small than the other, or (3) the means are not equal. (1) and (2) sound the same, so I should be more precise. If μ1 is supposed to be the average for one company, and μ2 the average for the other, then (1) would indicate μ1>μ2, while (2) would represent the case that μ1<μ2.

4 0

3 years ago

Read 2 more answers

1) Do you think there is/are any action(s) by Jessops Group Limited, that can be considered as a Corporate Social Responsibility

irina [24]

Answer:

Explanation:

Yes, Jessops is fulfilling its corporate social responsibility due to its contribution to the local councils for developing the collection facilities of discarded electronic goods and also by raising awareness for WEEE regulations, setting up plants to recycle used batteries can also be counted as a corporate social responsibility as it is an initiative to reduce environmental pollution caused by batteries.

There are four types of corporate social responsibility: Environment conservation, philanthropy, volunteerism, diversity and labor practices. Many corporations give money for preservation of wildlife and land, and take up environmental clean up efforts.

CSR helps the companies in many ways. It includes brand recognition and business reputation, it gives competitive edge to a company as companies prefer suppliers with responsible policies. It enhances customer loyalty and increases sales, it saves operational cost by reducing emissions and waste.

The CSR efforts helps the companies to attract talent and retain them as employees are motivated to work with companies taking up CSR initiatives.

CSR efforts also improves relations with the authorities and makes it easy to get financial access.

So, Jessop group will also get all these benefits from its CSR initiatives that will help it to become market leader in imaging industry.

7 0

3 years ago