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lilavasa [31]
3 years ago
10

Historical Art is a new business. During its first year of operations, credit sales were $50,000 and collections from credit sal

es were $34,000. One account for $500 was written off. Management uses the percent-of-sales method to account for bad debts expense and estimates 3% of credit sales to be uncollectible. What is the balance of accounts receivable at the end of the first year?
Business
1 answer:
Igoryamba3 years ago
5 0

Answer: $1000

Explanation:

First, we calculate the amount if bad debt expense which will be:

= 3% × $50000

= $1500

Therefore, the balance of accounts receivable at the end of the first year will be:

= Amount of bad debts expense - Account written off

= $1500 - $500

= $1000

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omeli [17]

Answer:

The correct answer is the option B: Chief Security Officer.

Explanation:

To begin with, a <em>Chief Security Officer</em> or CSO is the most important senior level executive that an organization has in its team whose main purpose is to <em>develop and oversight policies and programs whose primary focus are on the mitigation and reduction of secutiry risk</em> regarding the protection of people, intellectual assets and tangible property.

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4 0
3 years ago
Teresa purchased a necklace for $100 in 1964. In 2014, Teresa gave the necklace to her granddaughter, Lindsey.
padilas [110]

Answer:

d)$1,100 long-term capital gain

Explanation:

Given the information from the question. We know that a long-term capital gain or loss comes from investment that was possessed for a year or longer. However in this case, since the necklace was a gift .Therefore, there were no capital gain in 2014. In 2016, Lindsey sold the necklace for $1200. Therefore, the capital gain on the necklace will calculated as $1200- $100 = $1100. Where the $100 is a cost purchase for the previous owner. Therefore, long-term capital gain is $1100 which is option D.

8 0
3 years ago
Miley's business of gift items is earning her good profits. She is the sole proprietor of the business and wishes to expand it.
Advocard [28]
I think B idk for sure
5 0
3 years ago
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An organization in which there are a lot of formal rules, people are treated in animpersonal manner, jobs are carefully divided
andrezito [222]

Answer:

Theory X organization

Explanation:

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7 0
3 years ago
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mixas84 [53]

Answer:

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It is easy in this scenario to have prices double for some goods.

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3 years ago
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