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
serg [7]
2 years ago
11

Finland Inc has the following Accounts Receivable Aging on March 31 Aging BucketCurrent1-90 days91-180 days181-365 days366 days

Amount Outstanding300,000180,000100,00050,00015,000 March sales were $320,000 February ending balance in Allowance for Doubtful Accounts was $30,000 Credit Finland uses the Percentage of Receivables Method and a 5% reserve rate. What is the required reserve at the end of March
Business
1 answer:
NISA [10]2 years ago
5 0

Answer:

$32,250

Explanation:

Aging Bucket       Amount Outstanding

Current                 300,000

1-90 days              180,000

91-180 days          100,000

181-365 days        50,000

366+ days             <u>15,000</u>

Total                      <u>$645,000</u>

<u />

Total accounts receivable at the end of March = $645,000

Percentage uncollectible = 5%

Required reserve at the end of March = Total accounts receivable at the end of March * Percentage uncollectible

Required reserve at the end of March = $645,000*5%

Required reserve at the end of March = $32,250

You might be interested in
Accounts receivable arising from sales to customers amounted to $84,000 and $74,000 at the beginning and end of the year, respec
solmaris [256]

Answer:

$330,000

Explanation:

Change in WC = Opening receivables - Closing receivables

Change in WC = $84,000 - $74,000

Change in WC = $10,000

The decrease in working capital is $10,000

Cash from operating activities = Net income + Decrease in Working Capital

Cash from operating activities = $320,000 + $10,000

Cash from operating activities = $330,000

Thus, the cash from operating activities is $330,000

4 0
2 years ago
Which of the following sentences uses the term ration correctly?
lisabon 2012 [21]

Answer:

The last one.

We had to ration the food to make it last the whole week.

Explanation:

Look up the meaning of ration and it'll make sense.

4 0
2 years ago
A customer buys $10,000 of Government Bond Fund shares from Acme Investors, a fund sponsor and broker-dealer. Acme is the sponso
timofeeve [1]

Answer: customer will pay a sales charge

Explanation:

The statement which states that customer will have to pay sales charge in order to exchange shares within the family is not true. The fund family possesses an "exchange feature" at NAV. This means that the shares of one fund has the right to be redeemed and then reinvested in shares of another fund that is within the family without no sales charge.

For the customer that is exchanging Government bond Fund shares for the Growth Fund shares, tax event has occurred. Therefore, it will be expected that the customer's yield will reduce but that the capital gains will increase, because the person is moving from an "income" fund into a "growth" fund.

3 0
2 years ago
The main economic basis of the empire of Mali was derived from the agricultural production of the rural areas. However, the main
just olya [345]

Answer:

Although traditional agricultural practices were and are still probably the most important economic activity of Mali, they are not able to produce on a large scale to be able to export.

On the other hand, gold is something that most foreign companies and governments want, so the rulers of Mali engaged in gold trade. Since writing was not common in local communities in Mali, a lot of the records and history of Mali was done by foreigners and their main interest was gold.  

3 0
3 years ago
your boss has asked you to deliver a project sooner than expected. An appropriate response would be:
madam [21]
I will get it done asap sir (that's what i would say) hope it helps and have a great day!
8 0
3 years ago
Read 2 more answers
Other questions:
  • If the reserve ratio is 10 percent, banks do not hold excess reserves, and people hold only deposits and no currency, when the f
    8·1 answer
  • As a person receives more of a good, the _______________ from each additional unit of the good declines.
    11·1 answer
  • Provide an example of software that may be used to maintain financial records, and identify advantages of using it over maintain
    14·1 answer
  • Interest rates on 4-year Treasury securities are currently 5.4%, while 6-year Treasury securities yield 7.65%. If the pure expec
    15·1 answer
  • Consider the market for meekers in the imaginary economy of Meekertown. In the absence of international trade, the domestic pric
    12·1 answer
  • Real GDP per capita is not a perfect measure of the well-being of a country's individual citizens because: Instructions: You may
    11·1 answer
  • The Fed can reduce the federal funds rate by a. decreasing the money supply. To decrease the money supply it could buy bonds. b.
    5·1 answer
  • Consider two markets: the market for cat food and the market for dog food. The initial equilibrium for both markets is the same,
    5·1 answer
  • Suppose your roommate. Clara is starting à room cleaning business on your campus. There are five potential workers. Each is will
    5·1 answer
  • Use the drop-down menus to complete the steps for creating a subform.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!