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77julia77 [94]
3 years ago
5

Chez Fred Bakery estimates the allowance for uncollectible accounts at 3% of the ending balance of accounts receivable. During 2

018, Chez Fred's credit sales and collections were $125,000 and $131,000, respectively. What was the balance of accounts receivable on January 1, 2018, if $180 in accounts receivable were written off during 2018 and if the allowance account had a balance of $750 on December 31, 2018
Business
1 answer:
notsponge [240]3 years ago
8 0

Answer:

The balance of accounts receivable on January 1, 2018 is $31,180.

Explanation:

The following are given in the question:

Percentage of allowance for uncollectible accounts = 3%

Credit sales = $125,000

Collections = $131,000

Amount written off = $180

Therefore, we have:

Account receivable on 31 December 2018 * 3% = $750

Account receivable on 31 December 2018 = $750 / 3% = $25,000

Accounts receivable on 01 January 2018 = Account receivable on 31 December 2018 - Credit sales + Collections + Amount written off = $25,000 - $125,000 + $131,000 + $180 = $31,180

Therefore, the balance of accounts receivable on January 1, 2018 is $31,180.

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Answer:

d) All of the above

Explanation:

Here are the options to this question :

a) Geographic

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c) Psychographic

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When Ashton Woods determines that homeowners are seeking locations convenient to good, local schools, he is segmenting by geography.

Demographic segmentation is the segmentation of people based on demographics such as age, income, gender, ethnicity.

When Ashton Woods profiles households based on the income they earn, he is doing demographic segmentation

Psychographic  segmentation is the segmentation of a group of people into groups based on certain psychological characteristics

When Ashton Woods determines that homeowners would want like a beautiful upscale home, without the cost of maintaining a large yard. He is segmenting based on  Psychography

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3 years ago
PrintItem 4Item 4 On November 8, 2018, Power Corp. sold land to Wood Co., its wholly owned subsidiary. The land cost $61,500 and
IRISSAK [1]

Answer: When Wood Co. sells the land to a third party.

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Power Corp. owns the entirety of Woods Co. and therefore during a consolidated financial statement reporting, the profit made by Power Corp. from the sale of the land must be recorded when the land is purchased from Woods Co. by a third party.

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3 years ago
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7 0
3 years ago
If interest rates increase from 9 percent to 10 percent, a bank with a duration gap of 2 years would experience a decrease in it
Rasek [7]

The duration gap is calculated by subtracting the duration of the liabilities from the duration of the activity of the financial entities. Thus, in this case, the net worth of  1.8 percent of its assets.

<h3>What do you mean by Duration Gap?</h3>

Duration Gap refers to the term used by funds, banks, pensions, or many financial institutions to estimate the risk because of changed interest rates.

Also, if we have a negative duration gap means that the market value of equity will increase when interest rates rise.

Thus, in this case, If interest rates increase from 9 percent to 10 percent, a bank with a duration gap of 2 years would experience a decrease in its net worth of 1.8 percent of its assets.

Learn more about Duration gap here:

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8 0
2 years ago
Masters Corp. issues two bonds with 20-year maturities. Both bonds are callable at $1,050. The first bond is issued at a deep di
I am Lyosha [343]

Answer:

Explanation:

a)

The YTM of the bond at par value is equals to its coupon rate, 8.75%. Other things being equal, this 4% coupon rate bond will be more eye-catching as the coupon rate is lower than the current market yields, and its price is far below the call price. So, if yields drop, capital gains on the bond will not be restricted by the call price.

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If an investor foresees that yields will fall considerably, the 4% bond proposes a better expected return.

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Implicit call protection is offered in the sense that any likely fall in yields would not be nearly enough to make the firm consider calling the bond. In this sense, the call feature is almost irrelevant

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