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
anastassius [24]
2 years ago
13

Zeta Co. reported sales revenue of $4,600,000 in its Income Statement for the year ended December 31, 20X1. Additional informati

on is as follows: 12/31/X0 12/31/X1 Accounts receivable $1,000,000 $1,300,000 Allowance for uncollectible accounts (60,000) (110,000) Zeta wrote off uncollectible accounts totaling $20,000 during 20X1. Under the cash basis of accounting, Zeta would have reported 20X1 sales of:
Business
1 answer:
Black_prince [1.1K]2 years ago
7 0

Answer:

Zeta would have reported 20X1 sales of $4,280,000.

Explanation:

Note: the additional information in the question is correctly represented before answering the question as follows:

                                                                 12/31/X0              12/31/X1

Accounts receivable                              $1,000,000         $1,300,000

Allowance for uncollectible accounts      (60,000)             (110,000)

The explanation of the answer is now given as follows:

Since sales is equal to cash collections under the cash basis of accounting,  cash collected on accounts receivable can therefore be calculated as follows:

Ending balance = Beginning balance + Sales − Collections − Write-offs ......... (1)

Where;

Ending balance = $1,300,000

Beginning balance = $1,000,000

Sales = $4,600,000

Collections = ?

Write-offs = $20,000

Substituting the values into equation (1) and solve for collections, we have:

$1,300,000 = $1,000,000 + $4,600,000 − Collections − $20,000

Collections = $1,000,000 + $4,600,000 − $20,000 - $1,300,000

Collections = $4,280,000

Therefore, Zeta would have reported 20X1 sales of $4,280,000.

You might be interested in
Ajax Inc. is one of the customers of a well-known linen manufacturing company. Ajax has not ordered linen in some time, but when
Aleksandr-060686 [28]

Answer:

511

Explanation:

RFM analysis - recency, frequency, monetary

RFM analysis is used to analyze and rank customers according to their purchassing patterns.

RFM (recency, frequency, monetary) analysis is a behavior based technique used to segment customers by examining their transaction history such as

  • how recently a customer has purchased (recency)
  • how often they purchase (frequency)
  • how much the customer spends (monetary)

It is based on the marketing axiom that 80% of your business comes from 20% of your customers.

RFM helps to identify customers who are more likely to respond to promotions by segmenting them into various categories

<u>Solution:</u>

Ajax Inc. is one of the customers of a well-known linen manufacturing company. Ajax has not ordered linen in some time, but when it did order in the past it ordered frequently, and its orders were of the highest monetary value. Under the given circumstances, Ajax's RFM score is most likely <u>511</u>.

8 0
3 years ago
"The New Age Gallery has different admission prices for students, adults, and seniors. All three groups are entitled to the same
Pani-rosa [81]

Answer:

Customer-segment pricing

Explanation:

Customer-segment pricing is a form where the price of the product is grounded on the segment of the customer. It is the segmentation of the price, where the different prices are charged to different people for the similar or the same service or the product.

In this case, the gallery has a different admission prices for seniors, adults and students and they are entitled to have a same service, this form of the pricing is known as the customer pricing segment.

3 0
3 years ago
Downs Tax Planning Service bought communications equipment for $9,600 on January 1, 2017. It has an estimated useful life of fiv
MaRussiya [10]

Answer:

$960

Explanation:

For computing the accumulated depreciation, first we have to compute the depreciation expense which is shown below:

= (Original cost - residual value) ÷ (useful life)

= ($9,600 - $0) ÷ (5 years)

= ($9,600) ÷ (5 years)  

= $1,920

This is a full year depreciation but we have to find out for June 30,2017 i.e 6 months

= $1,920 ÷ 12 months × 6 months

= $960

The same is recorded as an accumulated depreciation

3 0
3 years ago
According to CEO Heidi Ganahl, Camp Bow Wow requires a strong and consistent corporate culture to keep all local franchise owner
geniusboy [140]

Answer:

The correct answer is letter "A": are inflexible and incapable of adapting to environmental change.

Explanation:

Strong consistent cultures are characterized by having endured during long periods of history. Their success in enduring relies on certain strict behaviors and rules adopted by their followers. At the same time, one of the features of these cultures is that they are reluctant to change or to adopt new trends to their way of living.

4 0
3 years ago
Each year, the U.S. Army shoots an estimated 200 million rounds of lead bullets at target practice areas across the United State
Shkiper50 [21]

Answer:

SELF REGULATION

Explanation:

Each year the US Army shoots an estimated 200 million rounds of lead bullets at from ... an estimated 200 million rounds of lead bullets at target practice areas across the United States. Pentagon officials, in response to environmentalists' concerns over lead poisoning in the soil, have invested over $12 million to develop

3 0
3 years ago
Other questions:
  • ____ are procedures used to verify the truthfulness and accuracy of information that applicants provide about themselves and to
    7·1 answer
  • What is the reason for pooling costs? Group of answer choices Determining a pool rate for all costs incurred by the same activit
    12·1 answer
  • Jaklyn loves her job, admires her boss, and believes in the goals and vision of the company she works for. She can't imagine loo
    5·1 answer
  • Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment building. This year Betty had the
    11·1 answer
  • 1.2 Explain the concept of the labour market to a Grade 12 school-leaver. Give a
    15·1 answer
  • By promoting transparency, the government can improve
    13·1 answer
  • Last year, you purchased a stock at a price of $64.00 a share. Over the course of the year, you received $2.20 per share in divi
    7·1 answer
  • In this course, you learned the way people work is changing. Describe three alternative types of employment that have become pop
    6·1 answer
  • The Overland Company is preparing its cash budget for the month of June. The following information is available concerning its a
    8·1 answer
  • Robinson spends all his income on mangos and bananas. Mangos cost $3 per pound. Robinson's marginal utility is 30 for the last p
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!