1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sukhopar [10]
3 years ago
12

Estimating Doubtful Accounts

Business
1 answer:
quester [9]3 years ago
6 0
Hwbbsjssvaivwhaccccccc
You might be interested in
Romona Company expects its November sales to be 20​% higher than its October sales of $ 240 comma 000. All sales are on credit a
kotykmax [81]

Answer:

The cash balance on November 30 amounts to $155,700

Explanation:

Cash balance on November 30 = Beginning balance + Collection of cash from October sales + Collection of cash from November sales - Payments for October Purchases - Payments for November Purchases

where

Beginning balance is $13,700

Collection of cash from October sales =  October Sales × % amount collected

                                                                = $240,000 × 70%

                                                                = $168,000

Collection of cash from November sales =  November Sales × % amount collected

                                                                = $240,000 × 1.20 × 25%

                                                                = $72,000

Payments for October Purchases = October Purchases × % amount paid

                                                        = $70,000 × 65%

                                                        = $45,500

Payments for November Purchases = November Purchases × % amount paid

                                                        = $150,000 × 35%

                                                        = $52,500

Putting the values in the above formula

Cash balance on November 30 = $13,700 + $168,000 + $72,000 - $45,500 - $52,500

= $155,700

4 0
3 years ago
Suppose that a risk-free investment will make three future payments of $100 in one year, $100 in two years, and $100 in three ye
olya-2409 [2.1K]

Answer:

The answer is $ 257.70

Explanation:

PV= Σ  of  discounted payments

PV = 100(1.08^-1) + 100(1.08^-2) + 100(1.08^-2)= <u>$ 257.70</u>

7 0
3 years ago
When the price of insulin was $10 consumers demanded 100 units, when the price was $15 consumers demanded 100 units, and when th
Flura [38]
Very straightforward
8 0
3 years ago
Total stockholders' equity represents :
Ganezh [65]

Answer:

c. a claim against a portion of the total assets of an enterprise.

Explanation:

The statement of stockholder's equity comprises common stock, preferred stock, and retained earnings.  

The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid

And, the ending balance of the common stock = Beginning balance of common stock + issued shares  

In this the accounting equation is used which is shown below:  

Total assets = Total liabilities + stockholder equity  

The debit and credit side of the balance sheet should always be equal and balanced. So, its claims against the portion of the total assets

5 0
3 years ago
In a recent year, sherwood day corporation had sales of $500,000, net income of $200,000, interest expense of $40,000, and tax e
Kipish [7]
The interest earned by the Sherwood Day Corporation is calculated by subtracting from the net income all the expenses including the interest expense and the tax expense. Mathematically,
                    interest earned = $200,000 - ($40,000 + $30,000)
                                                = $130,000
8 0
3 years ago
Other questions:
  • A company’s past experience indicates that 60% of its credit sales are collected in the month of sale, 30% in the next month, an
    15·1 answer
  • Estee Lauder Co.now sells most of its flagship products directly online. This choice, made around 2000, resulted in substantial
    8·1 answer
  • One way to interpret the change in Blue Hamster's accounts receivable balance from Year 1 to Year 2 is that more customers purch
    12·1 answer
  • Which of the following would indicate the need to use positive accounts receivable confirmations?A. A large population consistin
    14·1 answer
  • 53:1
    8·1 answer
  • Pepsodent launched a new product that could whiten teeth, fight decay, and maintain fresh breath. Observing that Pepsodent did n
    7·2 answers
  • Which of the following is a brass instrument. a flute b french horn c piccolo. d English horn
    9·2 answers
  • 50 points <br><br>add my discord avani.#2956
    15·2 answers
  • Use the drop-down menus to identify the career cluster that fits each job description.
    10·2 answers
  • A firm has four different investment options. Option A will give the firm $10 million at the end of one year, $10 million at the
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!