_____political activities include

At the end of 2016, Splish Brothers Inc. has accounts receivable of $675,100 and an allowance for doubtful accounts of $24,370.

ikadub [295]

Answer:

a.

Allowance for doubtful accounts $4,127

Accounts receivable $4,127

b.

The cash realizable value of the accounts receivable before the write-off : $650,730 and after the write-off: $650,730

This is the same amount

Explanation:

a. When write-off the receivable, the amount of the Accounts receivable of Splish Brothers Inc. will reduce. The company use Allowance for doubtful accounts to write-off receiable that is not collectible.

b.

Cash realizable value is the amount of money company expect to receive from the accounts receivable after deducting the uncollectable amount.

Cash realizable value = Accounts receivable - Allowance for doubtful accounts

Before write-off:

Cash realizable value = $675,100-$24,370 = $650,730

After write-off:

Accounts receivable = $675,100-$4,127 = $670,973

Allowance for doubtful accounts = $24,370-$4,127 = $20,243

Cash realizable value = $670,973 - $20,243 = $650,730

When the company write-off, the Accounts receivable and Allowance for doubtful accounts reduce the same amount. So, the Cash realizable value is not changed after write-off (this is the same amount before and after write-off)

7 0

3 years ago

Why do you want to work for the department of finance and administration?

eduard

An individual would likely want to work for the department of finance and administration if the individual is interested in this field in which he or she will likely take on the job of managing finances such as budget, finance reports and as well as accounting, in a way that it will help a company or organization to have someone deal with how the money circulates or managed in the company.

4 0

3 years ago

When the purchasing company bears the liquidation expenses it will debit the expenses to:_______

MatroZZZ [7]

Answer:

c. Goodwill Account

Explanation:

In the case when the company is in liquidation and the purchasing company paid the liquidation expense as it is beared by them so here the expenses would be debited to the goodwill account

Therefore as per the given situation, the option c is correct as the liquidation expenses should be debited to the goodwill

So the rest of the options are wrong

8 0

3 years ago

Raleigh Department Store uses the conventional retail method for the year ended December 31, 2019. Available information follows

IgorLugansk [536]

Answer:

$36,750

Explanation:

Calculation to estimate the ending inventory for 2019 assuming Raleigh Department Store used the LIFO retail method

LIFO retail method

($) Cost ($) Retail

Beginning inventory $33,210 $43,000

Add purchases $249,510 $470,000

Freight in $26,500 $0

Less: purchase returns ($6,300) ($22,000)

Purchase discount ($4,800) $0

Add net marks up $0 23,000

Less: net mark downs $0 ($22,000)

Goods available for sale (excluding beginning inventory) $264,910 $449,000

(298,120 -33,210=264,910)

(492,000-43,000=449,000)

Goods available for sale (Including beginning inventory) $298,120 $492,000

Cost to retail ratio 59%

[(264,910/449,000) *100]

Less: net sales

Sales $446,500 $0

Sales return $8,000 ($438,500)

($446,500-$438,500=$8,000)

Employee discount $0 ($4,500)

Estimated ending inventory at retail $0 $49,000

Estimated ending inventory at cost $36,750

[ 33,210 +(49,000 -43,000)*59%]

Therefore the Estimated ending inventory at cost is $36,750

7 0

3 years ago

Explain how secured credit cards work, including details about the security deposit, how payments work, and why they’re less ris

lawyer [7]

The secured credit cards are backed by a collateral deposit against the risk of default in repayment by the cardholder. Each card is liable to be repaid by the cardholder with the amount of purchases being made.

<h3>What is a credit card?</h3>

A card, or a form of plastic money, issued by a financial institution in such a way that the person to whom such card is issued can utilize it to purchase goods and services on credit, is known as a credit card.

A secured credit card is a safe and risk-free form of issue for the issuer, as it is covered by a security deposit as a collateral. Repayment is done either out of the deposits, or by manual payment by the cardholder.

Hence, the significance of a credit cards is given.

Learn more about credit cards here:
brainly.com/question/1475993

#SPJ1

8 0

2 years ago