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Ksju [112]
3 years ago
9

Calistoga Produce estimates bad debt expense at 0.20% of credit sales. The company reported accounts receivable and allowance fo

r uncollectible accounts of $471,000 and $1,620, respectively, at December 31, 2020. During 2021, Calistoga's credit sales and collections were $327,000 and $308,000, respectively, and $1,740 in accounts receivable were written off. Calistoga's accounts receivable at December 31, 2021, are:
Business
1 answer:
Olin [163]3 years ago
8 0

Answer:

$488,260

Explanation:

Calculation for Calistoga's accounts receivable at December 31, 2021

Accounts Receivable 1/1/2021 $471,000

Credit sales$327,000

Less Collections (308,000)

Less Write-offs (1,740)

Accounts Receivable 12/31/2021 $488,260

Therefore Calistoga's accounts receivable at December 31, 2021, are:$488,260

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A landowner conveyed his land to his wife, son, and daughter "as joint tenants with right of survivorship." The daughter then co
zepelin [54]

Answer:

The daughter and the son, unless the son does not pay his debt, which result in the lender owning interest to the land.

In this case the land was owned by three tenants, and the actions of one tenant may affect only their interest on the land, not the interest of the other tenants. Therefore the brother is still owner of the land unless he doesn't pay and the lender takes possession of joint tenancy of the land with the sister (or daughter to the deceased parents).

When the daughter conveyed her interest to a friend she only severed her own interest in the land, not the other tenants'. Since the friend and the wife stated in their will that the daughter was to inherit their share in the land, when they died the daughter regained ownership of the land (at least 2/3 ownership of the land).

At the end, the daughter will own 2/3 of the land and the son (or lender if he doesn't pay) will own the other 1/3 of the land.

4 0
4 years ago
Your client's product costs us$50 to produce, and it sells for us$150. she's sold 10 units and spent us$700 on her adwords campa
Komok [63]
I would calculate her return on investment by using this formula ((Profit from client's products - AdWords Expense)/Adword Expense * 100%). Therefore, you could achieve 42.85% (($1000-$700)/$700 * 100%) return on investment from your investment in the Adwords. The profit from the client's product is $1000 (10 * ($150-$50)).
4 0
4 years ago
Which of the following statements is CORRECT? a. The advantage of the basic earning power ratio (BEP) over the return on total a
leonid [27]

Answer: The advantage of the basic earning power ratio (BEP) over the return on total assets for judging a company's operating efficiency is that the BEP does not reflect the effects of debt and taxes

Explanation:

a. This is correct.

The advantage of basic earning power ratio over the return on the total assets for judging a firm's operating efficiency is that the basic earning power does not reflect effects of debt and taxes.

b. This is incorrect.

Only the price/earnings ratio of the company will tell us nothing about a company. When we compare the price/earnings of a company with the peers, we would know whether such company is under valued, or over valued or maybe fairly valued.

c. This is incorrect.

The total assets is made up of total liabilities plus the shareholders equity, when other things are held constant, less debt simply means less liabilities. To balance both sides, the total assets should reduce as the shareholder's equity is constant. When total assets decreases, the return on the assets will increase.

d. This is incorrect.

We can reach a conclusion on which firm is better managed based on the facts given. The debt ratio is the total liabilities divided by total assets, and a lower ratio is known to be good in comparison to a higher ratio. Similarly, the profit margin is the profit divided by the sales, and low profit margin shows high expenses and also a need for the management to decrease the expense.

3 0
3 years ago
What does it mean when we say that individuals as a group are net suppliers of funds for financial​ institutions? What do you th
Marysya12 [62]

<u>Answer:</u>

<em>Individuals, as a whole, spend less than they make. The excess is provided for financial institutions. </em>

<em></em>

<u>Explanation:</u>

In any market, the cost determines what providers get and what demanders pay. In money related markets, the individuals who supply monetary capital through sparing hope to get a pace of return, while the individuals who request budgetary capital by accepting assets hope to pay a speed of performance. This pace of recovery can arrive in an assortment of structures, contingent upon the kind of speculation.

Members in budgetary markets must choose when they want to devour merchandise: presently or later on. Financial experts call this essential intertemporal leadership since it includes choices crosswise over time.

4 0
4 years ago
8. Oscar is looking forward to retirement and feels lucky since he will receive a percentage of his monthly
diamong [38]
B. because i’ve read this
8 0
3 years ago
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