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Dovator [93]
3 years ago
8

During Year 1, Ramona Department Store had total sales of $3,000,000, of which 80% were on credit. The beginning balance in Acco

unts Receivable (on January 1 of Year 1) was $165,000. The beginning balance in the Allowance for Bad Debts (on January 1 of Year 1) was $20,000. The amount of accounts written off as
uncollectible during the year was $27,000.
The following aging of Accounts Receivable is for Ramona Company at the end of Year.
Aging of Accounts Receivable December 31 of Year 1
Less than 31 days to 61 days to Over
Overall 30 days 60 days 90 days 90 days
Total $492,000 $366,000 $72,000 $24,000 $30,000
Ramona Company has developed the following bad debt information from its own past experience. Percent Ultimately
Age of Account Uncollectible
Less than 30 days 2
31 to 60 days 12
61 to 90 days 35
Over 90 days 90
How much CASH was collected from CREDIT CUSTOMERS during the year?
a. $2,073,000
b. $2,721,000
c. $2,400,000
d. $2,370,000
e. $2,424,000
f. $2,046,000
Business
1 answer:
Angelina_Jolie [31]3 years ago
4 0

Answer:

the answer is 2.046.000

Explanation:

Basically you have to do all the journal entries that hit the AR account and then sum up the movements

Firstly Sales

Sales                                               3.000.000

AR              3.000.000

Cash sales ( 20% that were sold in cash)

AR                                                   600.000

Cash                     600.000

Write off                   27.000

Ar                                                        27.000

Once you have that sum all the movements for AR

Beginning balance                   165.000

Sales                                       3.000.000

cash sales                                 -600.000

Write off                                      -27.000

Total                                        2.538.000

then minus ending balance that was given of 492.000

2.538.000-492.000= 2.046.000

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Answer:

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Explanation:

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7 0
3 years ago
At Crater Valley Manufacturing, workers are encouraged to find their own solutions to problems, and to implement their solutions
Marizza181 [45]

Answer:

a) Theory Y

Explanation:

Crater Valley Manufacturing has adopted the theory Y management approach.  Theory  Y proposes a participative management style, teamwork, and decentralization of the decision-making process. In the theory Y approach, managers encourage employees initiatives that will contribute to the success of the organization. Theory Y tries to match the organizations' objectives with the employees' aspirations.

<u>Some of theory Y assumption include</u>

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5 0
3 years ago
Mr. Smith staggered home after a long night imbibing at the local bar. While attempting to navigate the stairs, he passed out co
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Answer:

Whenever a person consumes too much of liquor, the body gets dehydrated as alcohol is a dehydrating agent and it removes body fluids through renal system.

Due to such dehydration, the occurrence of cramps is quite a common phenomena, apart from tastelessness.

In the current case, Mr Smith got besotted at a bar and in an attempt to navigate the stairs, he consequently passed out. The following morning he woke up, his right arm and hand were devoid of sensation.

The human body requires consistent blood flow with adequate oxygen and nutrient absorption to coordinate well with the nervous system. Neurons are responsible for nerve impulses and action.

Alcohol affects the functioning of neurons which are responsible for generating impulse, movement and coordination. Owing to the same phenomena, while an individual is intoxicated, the senses slow down due to which one feels less pain of an injury or hurt.

Here, consumption of excessive liquor led to pressure built up and the blood flow along with nutrients and oxygen, which are required for the neuron process, got obstructed. This led to a situation of no sensation with neuron function suspended temporarily. This resulted into lack of sensation in the arm and hand.

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Answer:

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