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sweet [91]
3 years ago
7

Use the information in the adjusted trial balance presented below to calculate current assets for Wicked Wicker Company:

Business
1 answer:
frozen [14]3 years ago
7 0

Answer:

Current Asset = $50,000

Explanation:

Current asset is the asset that can be converted to cash within a year or a short period.

Wicked Wicker Company

Current Assets

Cash                                    $  26,000

Accounts receivable               17,000

Prepaid insurance               <u>     7,000</u>

Total current assets            $50,000

Cash is the most liquid asset, so it is a current asset. Accounts receivable can also be collected within a year. So, it is also an existing asset. Insurance is taken for one year in advance; hence, it is a current asset.

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I believe the answer is C
4 0
4 years ago
How do life expectancy at birth and political freedom change the relative ranking of living standards that real GDP per person​
irina [24]

Answer:

Answer is A.

Explanation:

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8 0
3 years ago
A small town has 1,000 people, 600 of whom are healthy and 400 of whom are sick. The annual expected medical claims of the healt
Snowcat [4.5K]

Answer:

a. 3,900

Explanation:

We find the probability of healthy persons & the weak out of the total population in the town.

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P(h) = 600/1000

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Probability of weak persons

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6 0
4 years ago
Item 6Item 6 Theodore Levitt advocates for a global culture characterized by standardized tastes and global markets. What is one
frutty [35]

Answer:

The existence and growth of government trade barriers

Explanation:

Theodore Levitt proposed that with the advent of technology and the mass media, people's tastes would eventually converge leading to the globalization of markets around the world. Even though people from different nations tend to have different tastes, they were united by factors like love, peace, joy, etc. Levitt was encouraging companies to leverage on the mass media as well as technology to form a convergence of these uniting factors.

However, government trade barriers, which are restrictions placed by the government on the importation of goods into another country can serve as a hindrance to the globalization of markets. This would be in opposition to Levitt's proposal of a uniting factor in international trade. Government trade barriers tend to encourage the production of local goods against the importation of goods.

8 0
3 years ago
Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $137,
Talja [164]

Answer:

a)

Dr Bad debts expense 1,787

Cr Allowance for doubtful accounts 1,787

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Cr Allowance for doubtful accounts 4,813

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Mazie Supply Co. Journal entry

a)

Dr Bad debts expense 1,787

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Cr Allowance for doubtful accounts 4,813

6 0
4 years ago
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