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suter [353]
2 years ago
15

On December 31, 2017, Extreme Fitness has adjusted balances of $980,000 in Accounts Receivable and $91,000 in Allowance for Doub

tful Accounts. On January 2, 2018, the company learns that certain customer accounts are not collectible, so management authorizes a write-off of these accounts totaling $28,000. What amount would the company report as its net accounts receivable on December 31, 2017
Business
1 answer:
m_a_m_a [10]2 years ago
3 0

Answer:

Account receivable = $889,000

Explanation:

The company would record as net receivables, the total amount on accounts receivable less total amount on the allowance for uncollectible account.

The above means that the balance would represent the amount of credit that has gone bad hence the value represent balance on net receivable account.

Therefore,

Accounts receivable

= Adjusted balance in accounts receivable - Allowance for doubtful account

= $980,000 - $91,000

= $889,000

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In 1969, Malcolm bought a Pontiac Firebird for $2,500. If the price index was 36.7 in 1969 and the price index was 235 in 2013,
Ilya [14]

Answer:

Option (d) $16,008.17

Explanation:

Data provided in the question:

The price of the Firebird in 1969 = $2,500

Price index in 1969 = 36.7

Price index in 2013 = 235

Now,

The price of the Firebird in 2013 dollars will be

= [ Price index in 2013 ÷ Price index in 1969 ] × The price of the Firebird in 1969

= [ 235 ÷ 36.7 ] × $2,500

= 6.40327 × $2,500

= $16,008.17

Hence,

Option (d) $16,008.17

6 0
2 years ago
According to the market theory of wage determination, under what circumstances will wages for a particular group be highest?
Dmitry_Shevchenko [17]

Answer:

When there is now demand for this type of labor

Explanation:

Hope this helps :))

4 0
3 years ago
Read 2 more answers
When an organization has a diverse set of employees that can provide insight and cultural sensitivity, this should improve the c
Alchen [17]

Answer:

Higher Creativity in Decision Making due to diversity and understanding of the environment in which it operates.

Explanation:

The reason is that the diversity brings access to great pool of hidden resources which we can utilize in a number of ways. People are observer and can play a vital role in the designing of strategic stance of the company. This strategy will influence company's financial position in future. So diversity helps in understanding of environment (environmental analysis) and informed decision making.

7 0
3 years ago
Amy and Bill are fixing up their house by painting walls and installing electrical outlets. In one hour, Amy can paint 8 walls,
Lelechka [254]

Answer:

1.33 walls

1 wall

Explanation:

Tradeoff is the opportunity cost of taking a particular decision

Opportunity cost of the next best option forgone when one alternative is chosen over other alternatives

My doing he outlet, the opportunity to paint is forgone

Amy = 8/6 = 1.33

Bill = 5/5

3 0
2 years ago
The type of control system that only be succsseful in attining systrms' objective if we know with certinty the events that take
cricket20 [7]

Answer: Management control system

Explanation:

Management control system could be defined as a system that collects and uses information to analyze the performance of different organizational resources like human, physical, financial considering them all together in the light of organizational strategies pursued. It looks at comparing performances with the standards, plans or objective of the organization to determine if they are line with standards.

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2 years ago
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