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MrRa [10]
3 years ago
10

Chez Fred Bakery estimates the allowance for uncollectible accounts at 1% of the ending balance of accounts receivable. During 2

021, Chez Fred's credit sales and collections were $108,000 and $142,000, respectively. What was the balance of accounts receivable on January 1, 2021, if $130 in accounts receivable were written off during 2021 and if the allowance account had a balance of $930 on December 31, 2021?
Business
1 answer:
steposvetlana [31]3 years ago
7 0

Answer:

See below

Explanation:

Per the above information,

Ending account receivable balance = Beginning account receivable + Credit sales - Collections - Written off amount

$93,000 = Beginning account receivable + $108,000 - $142,000 - $130

$93,000 = Beginning accounts receivable - $34,130

Beginning accounts receivable = $93,000 + $34,130 = $127,130

So, the beginning account receivable would be;

The ending accounts receivable is computed as;

= $930 ÷ 1%

= $93,000

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Appropriate ways to respond to stakeholder objections are:

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C. Take steps to investigate your analysis question further

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<h3 /><h3>Who are a company's stakeholders?</h3>

They correspond to individuals, organizations and groups that may have some kind of interest in a company. That is, they are the groups whose actions a company can directly impact, such as investors, customers and suppliers.

When there is concern about the financial projections presented, as in the question, it is ideal that there is an answer to such objections in a transparent way, demonstrating through reliable data to confirm your hypotheses.

Therefore, it is essential that a company seeks to develop corporate governance, with transparent and aligned decisions to increase stakeholder trust in the business.

This is a incomplete question. The missing alternatives are:

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1 year ago
What type of orientation has a firm adopted when it measures itself primarily against firms that challenge it for customers
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Competitor

Explanation:

8 0
2 years ago
Which of the following is an original issue discount obligation?
Fittoniya [83]

Answer:

B

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The best answer for an original issue discount is treasury bill because they are offered at a discount rate that is, at a rate lesser than the actual face value they are worth.

7 0
3 years ago
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Retained earnings accounts includes all the accumulated earnings after dividends have been distributed. Dividend distributions always lower retained earnings account since without any credit balance in that account, dividends cannot be distributed.

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Elenna [48]

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Both the words are hinting towards the same meaning which makes it redundant.

8 0
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