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
Assoli18 [71]
3 years ago
13

At the end of 2016, wildhorse co. has accounts receivable of $690,100 and an allowance for doubtful accounts of $25,090. 1. on j

anuary 24, 2017, it is learned that the company's receivable from madonna inc. is not collectible and therefore management authorizes a write-off of $3,913. 2. on march 4, 2017, wildhorse co. receives payment of $3,913 in full from madonna inc.
Business
1 answer:
Snezhnost [94]3 years ago
6 0

Answer:

See explanation section.

Explanation:

January 24, Allowance for doubtful accounts Debit        $3,913

Accounts receivable                                          Credit        $3,913

To record the write - off of accounts receivable.

March 04, Accounts receivable      Debit     $3,913

Allowance for doubtful accounts    Credit    $3,913

To record the reinstatement of uncollectible from the receivable account.

March 04, Cash         Debit      $3,913

Accounts receivable Credit     $3,913

To record the unexpected payment from madonna inc.

You might be interested in
A firm has current liabilities of $500, a current ratio of 1.5, and a quick ratio of 1.1. calculate the level of inventory for t
SCORPION-xisa [38]

The inventory level will be used by an inventory manager to regulate the optimal time for manufacturing, if they are handling a manufacturer's warehouse, or to demand more if the product is being stored as stock at a store.


To solve this:

Get first the Current Assets this solved by multiplying the current liabilities to the current ratio.

CA = $500 (1.5) = $750


Then get the inventory level by multiplying the current asset to the product of the current liabilities and quick ratio.

Inventory level = $750 (500 x 1.1) = $412,500

4 0
3 years ago
Why do you look like dababy?
olasank [31]
Letsss gooo you know it’s baby
7 0
2 years ago
Read 2 more answers
Identifying and assessing a company’s resource strengths and weaknesses and its external opportunities and threats is called: Se
DiKsa [7]

Answer:

The correct answer is letter "C":  SWOT analysis.

Explanation:

The SWOT (<em>Strengths, Weaknesses, Opportunities, and Threats</em>) analysis is a study that aims to identify the internal and external components that can drive a company to success or failure. Internal components are represented by the strengths and weaknesses of the firm while the external factors are represented by opportunities and threats.

Identifying such company factors allows entities of taking action on time and taking advantage of the chances the market can provide. Usually, these factors are recognized during the project planning stage of the enterprise.

6 0
3 years ago
Felicia is very warm and accepting to both of her two children, but she also sets firm rules that the children must follow with
Ipatiy [6.2K]

Answer:

Responsive and demanding

Explanation:

according to Baumrind, there are four parenting styles :

Authoritative

authoritarian

permissive

Neglectful

Parenting behaviour are divided into two dimensions :

demandingness - when a parent controls their child's actions

Responsiveness - refers to the extent to which the parent accepts and recognises their child's needs

7 0
3 years ago
You and your college roommate eat three packages of Ramen noodles each week. After graduation last month, both of you were hired
inn [45]

Answer:

The answer to this question is b. Yours will be positive and your roommate's would be negative.

Explanation:

Income elasticity of demand is the degree of responsiveness of demand to changes in income. In other words, it measures how changes in income of consumers will affect the quantity of commodities demanded by such consumers.

An income elasticity of demand can be positive or negative.

It is positive, when an increase in income leads to an increase in the quantity demanded by the customer. However it is referred to as negative when an increase in income leads to decrease in the quantity demanded by the consumer.    

In  the question above, it can be seen that the increase in income of the first person brought about increase in the commodity demanded thereby making his income elasticity of demand positive. one the other hand, the increase in the income of his roommate, brought about decrease in his demand which translate to the fact that his income elasticity of demand would be negative.

Hence the answer given.

4 0
3 years ago
Other questions:
  • At their regular monthly meeting, a group of local brokers agrees that the introduction of "discount brokerages" in their area w
    7·1 answer
  • EA12.
    7·1 answer
  • Wear Ever is expanding and needs $6.8 million to help fund this growth. The company estimates it can sell new shares of stock fo
    6·1 answer
  • Unlike tangible goods,virtually all services are susceptible to inconsistency and variations in quality.Why is this so?A) Becaus
    10·1 answer
  • Morin company's bonds mature in 8 years, have a par value of $1,000, and make an annual coupon interest payment of $65. the mark
    14·1 answer
  • At phoenix instruments, claudia pulls six samples an hour from an assembly line to examine them for quality defects. if she find
    8·1 answer
  • The annual interest payment on bonds: decreases over the life of the bonds when bonds are issued at a discount. stays constant o
    9·1 answer
  • Suppose the black market shrinks because firms shift to the formal sector, but production remains the same. GDP
    14·1 answer
  • A relevant cost ______. Multiple select question. differs between alternatives is always an opportunity cost pertains to the fut
    5·1 answer
  • You bought a put with a strike price of $25. the current stock price is $23. what is the current payoff value of this option?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!