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Flauer [41]
2 years ago
15

Customer A. Smith owed Stonebridge Electronics $325. On April 27, 2016, Stonebridge determined this account receivable to be unc

ollectible and written off the account. The company uses the direct write-off method. On July 15, 2016, Stonebridge received a check for $325 from the customer. How should the July 15, 2016 transaction be recorded
Business
1 answer:
Kitty [74]2 years ago
6 0

Answer:

A Journal was prepared for the receivable bad debt of a customer that owned stone bridge Electronics which us shown below

Explanation:

Solution

The first step to take in this case is to Nationalize the transaction to be recorded for the month of July 15, 2016.

A JOURNAL ENTRY FOR RECEIVABLE BAD DEBT OF $325

                        Particulars              Debit          Credit

July 15, 2016   Cash Account          $325

                        To Bad Debt Expense               $325

Note: The cash and bad debt expense are  both recorded on credit and debit side of the Journal

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Suppose a ten firm industry has total sales of​ $35 million per year. The largest firm have sales of​ $10 million, the third lar
lyudmila [28]

Answer:

0.66

Explanation:

the fourfirm concentration ratio is the sum of the concentration ratio of the four largest firms in the industry.

The sales of the second largest firm = $35 million - ( $10 million + $4 million+ $2 million + $12 million ) = $7 million

concentration ratio of firm 1 = $10 million / $35 million = 0.29

concentration ratio of firm 2  = $7 million / $35 million = 0.2

concentration ratio of firm 3 = $4 million / $35 million = 0.11

concentration ratio of firm 4 = $2 million / $35 million = 0.06

Adding the ratios together = 0.66

3 0
2 years ago
If an unauthorized withdrawal was made from a checking account the customer will
Crazy boy [7]
Lock the card, and contact the bank.
7 0
3 years ago
Define CAMELS, why it was created and how the system works, and give the names of six factors of CAMELS
bearhunter [10]
  1. Capital adequacy
  2. Asset quality
  3. Management
  4. Earnings
  5. Liquidity
  6. Sensitivity

CAMELS is an international rating system to rate banks, it was created in the United States as a supervisory rating system.

In order to ensure their financial strength, banks have periodic examinations by a Office of the Comptroller of the Currency. Bank examiners issue CAMELS, a numerical rating to the bank as a result of the examination, examiners score each bank in the six factors listed above. Banks score between 1 and 5 in each category (1 being the highest).

Hope this helps, HAVE A BLESSED AND WONDERFUL DAY! As well as a great Valentines Day! :-)  

- Cutiepatutie ☺❀❤

5 0
3 years ago
Glaston Company manufactures a single product using a JIT inventory system. The production budget indicates that the number of u
dezoksy [38]

Answer:

$ 317,000

Explanation:

Octuber Production:  200,000    

Variable Overhead:      $      0.80 per unit    

Fixed Overhead:        $ 157,000    

     

<u>Factory Overhead Budget for Octobe</u>r:      

   

Octuber Production x Variable Overhead =    <em>200,000 x 0.80 =  160,000</em>      

           

Variable Overhead:  <em>$ 160,000</em>

+  

Fixed Overhead:     <em>  </em><em><u>   $ 157,000</u></em><em> </em>  

     

Total Overhead:<em> </em>      <em>   </em><em>$ 317,000</em><em>    ( $ 160,000 + $ 157,000 )  </em>

4 0
3 years ago
If an organization with a corporate social responsibility (CSR) strategy is faced with heavy losses, it will______.
damaskus [11]

The organization will continue to try to balance profit and social goals.

The primary reasons why companies are in business is to make profit. However, a company must be responsible in terms of performing corporate social responsibility to the community where it operates.

Contributing to societal goals of a philanthropic, activist, or charitable nature by engaging in or supporting volunteering or ethically-oriented is what is meant by corporate social responsibility.

However, where an organization is faced with heavy losses, it must continue to balance profit and social goals. When the company makes profit, then salaries will be paid, social goals will be fulfilled.

learn more at : brainly.com/question/22395337

6 0
2 years ago
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