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
Sladkaya [172]
3 years ago
7

The following information comes from the accounts of James Company: Account Title Beginning Balance Ending Balance Accounts Rece

ivable $ 34,700 $ 35,700 Allowance for Doubtful Accounts 1,520 2,720 Note Receivable 54,700 54,700 Interest Receivable 1,000 3,556 Required a. There were $182,700 of sales on account during the accounting period. Write-offs of uncollectible accounts were $1,800. What was the amount of cash collected from accounts receivable
Business
1 answer:
Novosadov [1.4K]3 years ago
6 0

Answer: $179,900

Explanation:

The amount of cash collected from accounts receivable will be calculated thus:

Account receivable at begining = $34700

Add: Sales on account = $182700

Less: Write-offs of uncollectible accounts = $1,800

Less: Account receivable at ending balance = $35700

Cash collected = $179,900

You might be interested in
Data from Estrin Corporation's most recent balance sheet and income statement appear below: This Year Last Year Accounts receiva
jekas [21]

Answer:

d. 108 days

Explanation:

Average Inventory = (Beginning balance + Ending balance) / 2

Average Inventory = ($139,000 + $158,000) / 2

Average Inventory = $297,000 / 2

Average Inventory = $148,500

Inventory Turnover ratio = Cost of goods sold / Average Inventory

Inventory Turnover ratio =  $501,000 / $148,500

Inventory Turnover ratio = 3.37 times

Average days to sell inventory = Days in a year / Inventory Turnover ratio

Average days to sell inventory = 365 days / 3.37 times

Average days to sell inventory = 108.31 days

8 0
3 years ago
What is the interest rate for initial investment of $100,000 to grow $300,000 in 10 years
dybincka [34]

Answer:

r=20% or 0.2 %

Calculation:

Solving equation:

r = (1/10)((300000/100000) - 1) = 0.2

r = 0.2

Converting r decimal to R a percentage

R = 0.2 * 100 = 20%/year

The interest rate required to get a total amount, principal plus interest, of $300,000.00 from simple interest on a principal of $100,000.00 over 10 years is 20% per year.

6 0
3 years ago
Read 2 more answers
If a company defaults on a loan, the organization that granted the loan may be able to seize the assets of the company.
mariarad [96]
This is indeed true
5 0
3 years ago
Match the ICS Functional Areas with their descriptions.
Doss [256]

Answer:

1. Planning.

2. Command.

3. Intelligence/Investigation.

4. Operations.

5. Finance/Administration.

6. Logistics.

Explanation:

ICS is an acronym for incident command systems and can be used for planned events, as well as for emergencies and coordinated responses in various circumstances or organizations.

The five (5) major functional areas of the incident command system (ICS) are;

1. Planning: Supports the incident action planning process by tracking resources, collecting/analyzing information, and maintaining documentation.

2. Command: Sets the incident objectives, strategies, and priorities, and has overall responsibility for the incident.

3. Intelligence/Investigation: Ensures that all intelligence/investigations operations and activities are properly managed, coordinated, and directed.

4. Operations: Conducts operations to reach the incident objectives. Establishes tactics and directs all operational resources.

5. Finance/Administration: Monitors costs related to the incident. Provides accounting, procurement, time recording, and cost analyses.

6. Logistics: Arranges for resources and needed services to support achievement of the incident objectives.

3 0
3 years ago
The entry to record the expiration of part of the prepaid rent expense will?
borishaifa [10]
Decrease the total assets and increase the total expenses.
3 0
3 years ago
Other questions:
  • If an individual orders an alcoholic beverage In a private club and is determined not to be a current club member what should th
    8·2 answers
  • Based on the concept of service blueprinting, what is the "line of visibility?" select one:
    14·1 answer
  • I need a paragraph using balance, deposit, withdraw, fixed expenses, variable expenses, profit, Interest, budget, financial inst
    10·1 answer
  • Karen runs a print shop that makes posters for large companies. It is a very competitive business. The market price is currently
    11·1 answer
  • Your company is producing a phone with a new video feature. You need to review design specifications with the production company
    11·2 answers
  • Stutz Department Store will buy 10 pairs of sunglasses if the price is $93 per pair and 30 pairs if the price is $43. The suppli
    10·1 answer
  • What is the maximum percentage of net spendable income that should be set aside for transportation
    5·2 answers
  • Describe the philosophical differences between inspection, prevention, quality, quality control, statistical quality control, st
    7·1 answer
  • Suppose the value of the Mexican peso depreciates relative to the US dollar. How would this benefit people in the United States
    5·1 answer
  • Which supply chain process focuses on the transformation of inputs into outputs?.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!