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konstantin123 [22]
3 years ago
11

Before year-end adjusting entries, Crane Company's account balances at December 31, 2017, for accounts receivable and the relate

d allowance for uncollectible accounts were $1400000 and $75000, respectively. An aging of accounts receivable indicated that $120000 of the December 31 receivables are expected to be uncollectible. The net realizable value of accounts receivable after adjustment is
Business
1 answer:
blsea [12.9K]3 years ago
6 0

Answer:

$1,280,000

Explanation:

The net realizable value of accounts receivable after the net adjustment is computed as

= Ending balance in Accounts receivables - Uncollectible ageing accounts receivables

Given that;

Ending balance in Accounts receivables = $1,400,000

Uncollectible ageing accounts receivables = $120,000

Net realizable value of the accounts receivables after the net adjustment = $1400,000 - $120,000

= $1,280,000

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Type the correct answer in the box. Spell all words correctly. Help Please!!!
Flura [38]

Answer:

Which non-cash expense is added back to the net profit in the indirect method of preparing a cash flow statement? DEPRECIATION

The indirect method of preparing a cash flow statement adds a non-cash expense, such as DEPRECIATION and or AMORTIZATION, to the net profit.

Explanation:

Cash flow statement is a statement of account or financial statement prepared by firms or organisations that shows how money comes or flow into a company. It also shows the amount of money that a company receives from sales of their goods and services.

Cash flow statement also shows us the money invested my the company in outside ventures which is used for generating revenues for the company.

There are two methods of preparing Cash flow statements

a. Indirect method.

b. Direct method

The indirect method of preparing a cash flow statement involves stating the net income of the firm and then adding back non cash expenses such as Depreciation, Amortization back to the net profit. After which the determination of the actual inflow or outflow of cash from firm in carried out.

5 0
3 years ago
LO 3.1A company’s product sells for $150 and has variable costs of $60 associated with the product. What is its contribution m
soldier1979 [14.2K]

Answer:

60%

Explanation:

Contribution margin ratio is calculated by dividing the contribution margin amount by sales.

Contribution margin is sales less variable cost to produce a product.

Sale price                      150

Variable cost                (60)

Contribution margin     90

Contribution margin ratio: 90 / 150 = 60%

4 0
3 years ago
The term "financial statement" does not include a statement of cash receipts and disbursements, because this type of presentatio
GrogVix [38]

Answer:

False.

Explanation:

Financial statements are a representation of the financial position of a business entity at any given point in time.

The statements of cash receipts and disbursements meets the GAAP requirements of accrual accounting because this is the basis for which other financial statements are formed. For example if we receive a product from a vendor and issue an invoice to him. The invoice represents an unpaid accrual (account payable) and will go into other financial statements as a liability against the business.

So the statement above is false.

8 0
3 years ago
The​ table, shows key financial data for three firms that compete in the consumer products​ market: Procter​ & Gamble,​Colga
IgorC [24]

Answer:

d

Explanation:

6 0
3 years ago
Which of the following is an advantage of internal recruitment? a. It leads to the generation of new ideas through tunnel vision
Georgia [21]

"It improves organization fit because current employees understand the company's culture" is an advantage of internal recruitment.

<u>Option: C</u>

<u>Explanation:</u>

Recruitment are of basically two types on the basis of staff location like internal and external. Each firm is more comfortable to recruit departmental candidate because the current staff is well aware about the firm atmosphere.

This helps to save time of training to them, better fluency in work, trust factors, etc. Although external recruitment is also need to invite fresh talent with more energy and enthusiasm towards work profile, thus to train them and bring on specific track, training and meetings are needed to held.

4 0
4 years ago
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