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AlekseyPX
3 years ago
14

December 31, Year 1, the Loudoun Corporation estimated that 3% of its credit sales of $112,500 would be uncollectible. Loudoun u

ses the allowance me On thod of accounting for uncollectible accounts. In February of Year 2, f Loudoun's customers failed to pay his $1,050 account and the account was written off On April 4. Year 2 this customer paid Loudoun the $1,050 Which of the following answers correctly the customer's account? states the effect of Loudoun Company's February Year 2 entry to write off Assets = Liab.+Equity Rev. - Expenses = Net Inc. Cash Flow A. NA = NA + NA NA -NA = NA NA NA B. (1,050) = NA + (1,050) (1,050)-NA = (1,050) NA c. (1,050) = (1,050)+NA NA-NA=NA NA D.NA = (1,050)+(1,050) NA-(1,050)-(1,050) NA.
1. Option C
2. Option B
3. Option D
4. Option A
Business
1 answer:
allochka39001 [22]3 years ago
7 0

Answer:

A. NA = NA + NA NA -NA = NA NA NA

Explanation:

As Year 2 the customer paid Loudoun the $1,050,which was written off On April 4, Year 1.

Therefore, the following journal entries to record the transaction.

Accounts receivable                     debit $1,050

Allowance for doubtful accounts credit $1,050

To record reinstatement of accounts receivable.

Cash                           debit $1,050

Accounts receivable credit $1,050

As one asset account is increase and another asset account is decreased.

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One year ago, you bought shares of Aaon, Inc at $36.48 a share. You received a dividend of $1.62 per share last month and sold t
Pie

Answer: 12.88%

Explanation:

The following information can.be inferred from the question:

Purchase price of share = $36.48

Dividend = $1.62

Selling price = $41.18

Capital gain = $41.18 - $36.48 = $4.70

Capital gain yield:

= Capital gain / Purchase price × 100

= (4.70 / 36.48) × 100

= 0.1288

= 12.88%

7 0
3 years ago
Suppose that lenders want to receive a real rate of interest of 5 percent and that they expect inflation to remain steady at 2 p
Helga [31]

Answer:

7%

Explanation:

nominal interest rate = real interest rate + expected inflation rate

nominal interest rate = 5% + 2% = 7%

Usually the nominal interest rate has four major components:

  1. real interest rate: the net interest rate received by a lender or an investor
  2. inflation rate: the general rise in the prices of goods and services, as inflation increases, the purchasing power of a currency decreases
  3. liquidity risk premium: usually collateralized loans include a liquidity risk premium since not all assets can be easily converted to cash.
  4. credit risk: possibility of the borrower defaulting the loan

7 0
3 years ago
Because of their sharp quality text output and fast printing speeds, ___ printers are often preferred by businesses.
RideAnS [48]

Answer:

Laser printer

Explanation:

Laser printers are quicker than inkjet printers (producing more pages per minute), generate higher-quality output (with some limitations), and are better suited for high-volume production. Laser printers produce significantly finer lines than inkjet printers, making them ideal for text, logos, and corporate information graphics.

5 0
3 years ago
For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Peacock is c
Elden [556K]

<u>Solution and Explanation:</u>

For every one of the accompanying situations, start by expecting that all interest factors are set to their unique qualities and Peacock is charging $300 per room every night.  

1) If the normal family unit pays increments by 20%, from $50,000 to $60,000 every year, the amount of rooms requested at the Peacock ascends from 200 rooms every night to 250 rooms every night. Accordingly, the pay flexibility of interest is certain, implying that lodgings at the Peacock are ordinary products.  

<u>Explanation:</u> Income elasticity of demand = 25% divide by 20% = 1.3

At the point when raise in salary prompts an expansion in the amount requested (or a fall in pay prompts a fall in the amount requested), the great is known as an ordinary decent.  

2) In the event that the cost of an aircraft ticket from JFK to LAS was to increment by 10%, from $200 to $220 roundtrip, while all other interest factors stay at their underlying qualities, the amount of rooms requested at the Peacock tumbles from 200 rooms for every night to 150 rooms for each night. Since the cross-value versatility of interest is negative, lodgings at the Peacock and aircraft trips among JFK and LAS are supplements.

<u>Explanation:</u> Cross elasticity of demand = -25% divide by 10% = -2.5

Two merchandise ordered supplements when a raise the cost of one great abatement the amount requested of the other or when a fall in the cost of one great expands the amount requested of the other.  

3) Peacock is discussing diminishing the cost of its rooms to $275 every night. Under the underlying interest conditions, you can see this would make its all-out income increment. Diminishing the cost will consistently have this impact on income when Peacock is working on the flexible part of its interest bend.  

<u>Explanation:</u> Total revenue = $300 per room per night multiply with 200 rooms = $60,000 per night

By bringing down its cost to $275, Triple Sevens can occupy 225 rooms. In such situation, all-out income is $275 per room every night multiply 225 rooms = $61,875 every night  

At the point when the request is versatile, the rate change in cost is littler than the rate change in an amount as the purchasers are exceptionally delicate to changes in cost.

8 0
3 years ago
The ______________ stage of the selling process offers a prime opportunity for salespeople to solidify customer relationships th
Nitella [24]

Answer:

E. Follow-up

Explanation:

The follow-up stage is a stage of the selling process which offers a prime opportunity for salespeople to solidify customer relationships through great service quality.

Follow-up means things that can be done by the salesperson in order to Improve customer relation.

Follow-up services helps to:

1. Increase sales: Customers who are satisfied with your services are more likely to come back and patronise you more.

2. Follow-up services helps producers to innovate on their products. Follow-up service includes listening to customers complaint and needs. This allows a producer to Improve on its product.

3. Follow-up services helps a business to stand out among other businesses because only few business follow-up

on their customers.

4. Existing customers refer new customers to patronise you and customers develop a sense of trust in your product and services.

5. Follow-up services helps to increase profit because firms make more sales.

7 0
3 years ago
Read 2 more answers
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