All categories

3 years ago

Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores.

Business

1 answer:

astra-53 [7]3 years ago

5 0

Answer:

Explanation:

please find the attached for the full explanation of the answer.

before answering the total current assets that will be recorded by Symphony one needs to understand what a current asset is. A current asset can be referred to a short term meaning that its span of life is short it can not be longer than 12 months hence current.

we also need to explain an asset: an item of property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies

Download docx

You might be interested in

Auto insurance is NOT what ?

Minchanka [31]

Answer:

The answer is c.

Explanation:

3 0

2 years ago

Read 2 more answers

A consumer goods company segments its markets on the basis of purchase patterns of their customers. The company groups its produ

Inga [223]

Answer:

Segmentation based on product usage

Explanation:

This is the process where by a Market research is carried out to know the frequency of the customers product usage there by allowing the company to be able to align its product with the given statistics. In other to push up the product usage advertisement campaigns are made to let the customers understand new uses of the products.

4 0

3 years ago

On December 31, Jarden Co.'s Allowance for Doubtful Accounts has an unadjusted credit balance of $14,000. Jarden prepares a sche

Kryger [21]

Answer:

Dr Bad debt expense 28,799.40

Cr Allowance for doubtful accounts 28,799.40

Explanation:

allowance for doubtful accounts balance $14,000

$880,000 not due yet 1.2% $10,560

$350,000 1 to 30 days 1.95% $6,825

$70,400 31 to 60 days 6.45% $4,540.80

$35,200 61 to 90 days 32.50% $11,440

$14,080 over 90 days 67% <u>$9,433.60</u>

total $42,799.40

Journal entry

Dr Bad debt expense 28,799.40

Cr Allowance for doubtful accounts 28,799.40

3 0

3 years ago

Pina Colada Corp. holds Tamarisk, Inc. $44400, 120-day, 15% note. The entry made by Pina Colada Corp. when the note is collected

Dafna1 [17]

Answer and Explanation:

The journal entry is shown below

Cash $46,620

To Notes Receivable $44,400

To Interest receivable ($44,400 × 15% × 120 days ÷ 360 days)

(Being the cash received is recorded)

Here we debited the cash as it increased the assets and at the same time we credited the interest receivable and the note receivable as it decreased the assets

The same is to be considered

7 0

3 years ago

Focusing provides the ability to secure a competitive edge but also itcarries some risks that will be detrimental to the focused

san4es73 [151]

Answer:

B - The potential for the preferences and needs of niche members to shift over time toward mainstream provider product attributes.

Explanation:

In the long term, such focused goods and services might be provided by every supplier, hence the Company (focused on one product) might earn less profits and lose its competitive advantage as more players have entered the competition to produce and sell similar products.

6 0

3 years ago