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
zheka24 [161]
2 years ago
15

At the beginning of 2014, Sabrina Company had the following normal ledger balances: Accounts Receivable: $24,000 Allowance for U

ncollectible Accounts: $1,000 During the year there were $450,000 of credit sales, $460,000 of collections from credit customers, and $3,700 of write-offs of delinquent accounts. At the end of the year, the company adjusted for bad debts expense using the percent-of-sales method, and applied a rate, based on past history, of 1.2%. At the end of the year, what was the balance in the Accounts receivable
Business
1 answer:
zimovet [89]2 years ago
7 0

Answer:

$10,300

Explanation:

Accounts receivable, beginning = $24,000

Credit sales = $450,000

Cash collections from customers = $460,000

Accounts receivables written off = $3,700

Accounts receivables, ending = Accounts receivable, beginning + Credit sales - Cash collections from customers - Accounts receivables written off

Accounts receivables, ending = $24,000 + $450,000 - $460,000 - $3,700

Accounts receivables, ending = $10,300

So, at the end of the year, the balance in the Accounts receivable is $10,300.

You might be interested in
True or false: Subsection (d) under section 10 of the Federal Arbitration Act requires the court to review the merits of every c
Vanyuwa [196]

It is a  <u>False </u>statment to say that subsection (D) of section 10 of the Federal Arbitration Act mandate that the court review the merits of every construction of a contract. The act speaks to Arbitration.

<h3>What does the Federal Arbitration Act of the United States of America say?</h3>

Subsection (D) of section 10 of the above stated Act state that the United States Court would vacate an award upon application by any of the party to the arbitration:

<em>Where the arbitrators exceeded their power or so imperfectly executed them that a mutual, final and definite award upon the subject matter submitted was not made.</em>

See the link below for more about Arbitration:

brainly.com/question/1139969

5 0
2 years ago
On an organization's board of directors, Multiple Choice inside directors must work for the organization and outside directors a
ch4aika [34]

Answer:

Inside directors may be members of the firm and outside directors are supposed to be elected from outside the firm.

Explanation:

A board of directors in most corporations consists of inside directors and outside directors. Inside directors are usually the members of the firm and have direct access to the company's operating. CEO, CFO and CIO are typical examples of inside directors. On the other hand, outside directors are not employees of the firm, nor stakeholders. They have unbiased opinions in board meetings.

8 0
3 years ago
Malcolm's parents wanted him to be part of the family business—and malcolm planned to do so. then, at age 17, he decided to leav
Shtirlitz [24]
<span>He resisted identity foreclosure. In this part of self-discovery of a person's identity, the individual, usually in their late teenage years, has simply taken on the roles of their parents or friends without actually exploring other roles and identities. By going through an identity moratorium whereby they begin to question and explore their identities, only then can the individual have an identity achievement that is truly theirs.</span>
3 0
3 years ago
A decrease in the demand for eggs due to changes in consumer tastes, accompanied by a decrease in the supply of eggs as a result
Mariana [72]

Answer:

a decrease in the equilibrium quantity of eggs; the equilibrium price may increase or decrease

Explanation:

Here are the options

a decrease in the equilibrium quantity of eggs and no change in the equilibrium price.

a decrease in the equilibrium quantity of eggs; the equilibrium price may increase or decrease.

a decrease in the equilibrium price of eggs; the equilibrium quantity may increase or decrease.

a decrease in the equilibrium price of eggs and no change in the equilibrium quantity.

Only a change in the price of a good leads to a movement along the demand curve of that good. Also, only a change in the price of the good would lead to an increase or decrease in the quantity demanded of that good.

Other factors other than the change in the price of the good would lead to a shift of the demand curve. Some of those factors include :

1. a change in consumers' expectation

2. a change in the taste of consumers

3. a change in income

A change in price of a good leads to a movement along the supply curve and not a shift of the supply curve.

Other factors other than a change in the price of the good would lead to a shift of the supply curve. Such factors include :  

1. A change in the price of input  

2. A change in the number of suppliers  

3. Government regulations  

A decrease in the demand for eggs would lead to a leftward shift of the demand curve for eggs. Price and quantity would fall as a result.

a decrease in the supply of eggs would lead to a leftward shift of the supply curve for eggs. Price would increase and quantity would fall.

Taking these two effects together, there would be a fall in equilibrium quantity and equilibrium price can either rise or fall depending on if demand or supply has a greater effect.

7 0
3 years ago
In 1–3 sentences, explain the role of entrepreneurs in the economy.
jenyasd209 [6]

ANSWER: There are many ways how entrepreneurs benefit the economy. Few of them are

1) Create Jobs: Entrepreneurs create jobs in the community. When someone opens a new business or expands his new business, he will need human resource to help him to do his works.

2) Wealth Creation: Entrepreneurs pool in their own money and attract investment from lenders, banks and other investors. This mobilizes public wealth.

3) Exports: Entrepreneurs after growing in their businesses will want to export their products as a part of extending their market. This will help gain foreign currency in the country.

4 0
3 years ago
Read 2 more answers
Other questions:
  • Telecom Co. enters into a​ two-year contract with a customer to provide wireless service​ (voice and​ data) for​ $40 per month.
    6·1 answer
  • Franklin reviews financial data of a company to ensure accurate and complete information. Which job title does he most likely ha
    15·2 answers
  • True or False: Organizations can identify potential targets for theft and diversion by working with security or law enforcement
    8·1 answer
  • World Grocer sells high-quality products and grocery items that are unique to its highly populated area; in addition, it offers
    8·1 answer
  • If you want to give a vendor an incentive to complete work early, which type of contract would you use?Select an answer:a. fixed
    5·2 answers
  • Knowing a company's business standards will:
    13·2 answers
  • The growth of GDP may understate changes in the economy's economic well-being over time if the:
    13·2 answers
  • Suppose that a there are two goods, X and Y. The price of Good X is $5 and the price of Good Y is $10. The seller of Good X offe
    7·1 answer
  • A strategy of ____________ reciprocating both the frequency and magnitude of the other bargainer's concessions was found to be m
    7·1 answer
  • If the MPC is 0.75 and there are no crowding-out or accelerator effects, then an initial increase in aggregate demand of $100 bi
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!