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3 years ago

Inventory records for Marvin Company revealed the following:

Business

1 answer:

motikmotik3 years ago

8 0

"8.60" (and any subsequent words) was ignored because we limit queries to 32 words.

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Accounts receivable $1,050,000

dimulka [17.4K]

Answer:

c. $ 84,000 increase

Explanation:

The entry when the company wrote off uncollectible accounts:

Debit Allowance for Doubtful Accounts $16,000

Credit Uncollectible accounts $16,000

It makes Account receivable decrease: $16,000

In 2007, Sales on account that were not collected = $290,000 - $172,000 = $118,000

It makes Account receivable at the end of the year increase: $118,000

At 12/31/07,

1. Accounts receivable was: $1,050,000+$118,000-$16,000=$1,152,000

2. Cash realizable value = Accounts receivable - Allowance for Doubtful Accounts = $1,152,000 - $108,000 = $1,044,000

From 12/31/06 to 12/31/07, cash realizable value from the balance increase:

$1,044,000 - $960,000 = $84,000

7 0

3 years ago

The country in which an International company has its primary headquarters and the larger consumer base is called its

sattari [20]

I feel that economic would be the one that makes sense to me could be wrong though hope this helps

7 0

3 years ago

the united states imports a lot of cars, despite having its own auto industry. each of the following statements are arguments so

Kipish [7]

Automotive Industry

The automotive industry includes all companies and activities involved in the production of motor vehicles, including the majority of components such as engines and bodywork but omitting tyres, batteries, and fuel.

Main Content

a) Anti-dumping legislation will prohibit unfair competition:

For selling cars in the country, foreign corporations employ the dumping method. As a result, the United States should enact anti-dumping legislation to prevent unfair competition in its market. As a result, the price of foreign cars will rise, reducing demand for foreign cars in the United States.

b). Protection can aid the development of new enterprises:

To prevent foreign businesses from selling their hybrid electric automobiles at low prices in the US, the US should levy a substantial tax on these international electric vehicles. As a result, protection can aid in the development of infant industries and encourage the production and distribution of small scale industries in the market.

c) Job losses can result from foreign competition:

When an economy consumes a lot of imported goods, indigenous firms face stiff competition. Domestic manufacturers' products will be less in demand, resulting in reduced production, which will harm the manufacturer and, as a result, job losses and mass unemployment.

To learn more about Automotive Industry

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5 0

1 year ago

Marilyn Simms died with a $200,000 life insurance policy. Her husband, Jack, was the primary beneficiary and their children, Mim

loris [4]

Answer:

a) $200,000 to Jack

Explanation:

Data provided in the question

Life insurance policy amount of Marilyn Simms = $200,000

The primary beneficiary = Jack

The contingent beneficiaries = Their children

Now, the distribution of the policy could be taken by only Jack as he is her husband plus he is also a primary benefit of her life insurance policy,

So, the whole amount i.e $200,000 is distributed to Jack

8 0

3 years ago

Agent Sam told a buyer that the fence line also marked the property line. Agent Sam knew that the property line did not extend t

FinnZ [79.3K]

Answer:

I dont know dude

Explanation:

My bad

6 0

2 years ago