Analyzing account balances for a company using the allowance method of accounting for uncollectible accounts The following account balances come from the records of Ourso Company: Accounts Receivable Allowance for Doubtful Accounts Beginning Balance $2,800 280 Ending Balance $3,600 350 During the accounting period, Ourso recorded $14,000 of sales revenue on account. The company also wrote off a $150 account receivable. Required a. Determine the amount of cash collected from receivables. b. Determine the amount of uncollectible accounts expense recognized during the period.
Answers
Answer:Analyzing account balances for a company using the allowance method of accounting for uncollectible accounts The following account balances come from the records of Ourso Company: Accounts Receivable Allowance for Doubtful Accounts Beginning Balance $2,800 280 Ending Balance $3,600 350 During the accounting period, Ourso recorded $14,000 of sales revenue on account. The company also wrote off a $150 account receivable. Required a. Determine the amount of cash collected from receivables. b. Determine the amount of uncollectible accounts expense recognized during the period.
Explanation: opo matic anging radiation
Related Questions
What material best described by "a heavy durable fabric with a short thick velvety nap on one side: a woven cloth with a suede-like appearance with a nap less that 1/18th of an inch"?
Answers
Doeskin is a strong durable fabric with a short thick velvety nap on one side: a woven cloth with a suede-like look with a nap less than 1/18th of an inch. Hence, the correct answer is Doeskin.
What exactly is Doeskin material?Tightly milled, twill weave, face finish, 100% Merino wool. It has a weight of 390gsm and a width of 142cms, and it comes in a variety of traditional and modern colors. The moniker "Doeskin" came from the fabric's resemblance to the skin of a female deer. Doeskin is the velvet-like split hide of an adult female deer. It is extensively utilized in the production of gloves. It rapidly receives dye. A tightly woven medium-weight wool fabric with a short soft nap, akin to duvetyn, is also referred to by the word.
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Which statement is true regarding monopolistic competition?
Answers
Answer:
AR>MR
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WHERE ARE THE OPTIONS.
Which of the following is a factor that is usually considered in a cost benefit
analysis?
A. Employee leasing
B. Reactive change
C. Shareholder recognition
D. Growth scenarios
Answers
Answer:
Growth scenarios
Explanation:
A P E X
Haynes, Inc. obtained 100 percent of Turner Company's common stock on January 1, 2017, by issuing 10,000 shares of $10 par value common stock. Haynes's shares had a $15 per share fair value. On that date, Turner reported a book value of $100,000 (consisting of Common Stock $10,000, Additional Paid-In Capital $50,000, and Retained Earnings $40,000). However, its equipment (with a 5-year remaining life) was undervalued by $5,000 in the company's accounting records. Also, Turner had developed a customer list with an assessed value of $30,000, although no value had been recorded on Turner's books. The customer list had an estimated remaining useful life of 10 years.
The following figures come from the individual accounting records of these two companies as of December 31, 2017:
Haynes Turner
Revenues $(600,000) $(230,000)
Expenses 440,000 120,000
Investment income Not given 0
Dividends declared 80,000 50,000
The following balances come from the individual accounting records of these two companies as of December 31, 2018:
Haynes Turner
Revenues $(700,000) $(280,000)
Expenses 460,000 150,000
Investment income Not given 0
Dividends declared 90,000 40,000
Equipment 500,000 300,000
Required:
a. What is the consolidated equipment balance as of December 31, 2018?
b. Would this answer be affected by the investment method applied by the parent?
Answers
Answer:
a. $848,000
b. No
Explanation:
a. The calculation of consolidated equipment balance as of December 31, 2018 is shown below:-
Consolidated equipment balance = Equipment balance of Haynes + Equipment balance of Turner + Allocation based on fair value - Depreciation
= $500,000 + $300,000 + $5,000 - (($5,000 ÷ 5 × 2)
= $500,000 + $300,000 + $5,000 - $2,000
= $848,000
2. No it will not affect by the investment method applied by the parent.
On June 15, 2021, Allen sold land held for investment to Stan for $65,000 and an installment note of $300,000 payable in five equal annual installments beginning on June 15, 2022, plus interest at 10%. Allen’s basis in the land is $255,500. What amount of gain is recognized in 2021 under the installment method?
Answers
The amount of gain that will be recognized in 2021 under the installment method, is $27, 857 . 14
How to find the gain recognized?First, find the profit margin on the land sold by Allen to Stan:
= ( Selling price of land - Allen's basis in the land) / Allen's basis in the land
= ( ( 300, 000 + 65, 000) - 255, 500) ) / 255, 500
= 109, 500 / 255, 500
= 42. 857 %
The gain to be recognized, using the installment method is:
= Profit margin x Amount paid by Allen in 2021
= 42. 857 % x $ 65, 000
= $27, 857 . 14
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When the Fed conducts an open market sale of government bonds, what does it want to happen to bank lending as a result?
a. a decrease in bank lending to decrease the money supply
b. an increase in bank lending to increase the money supply
c. an increase in bank lending to decrease the money supply
d. a decrease in bank lending to increase the money supply
Answers
When the Fed conducts an open market sale of government bonds, this will cause an increase in bank lending to increase the money supply. Option B
This is further explained below.
What are government bonds?Generally, A financial obligation that is issued by a national government to finance government expenditure is referred to as a government bond, sovereign bond, or simply bond.
In most cases, it entails a promise to reimburse the principal amount on the maturity date and to make what is known as coupon payments, which are interest payments made at regular intervals.
In conclusion, the Federal Reserve performs a sale of government bonds on the open market, this will result in a rise in bank lending, which will result in an increase in the money supply.
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why, do you think ,do banks and ther financial institutions offer cash loans to people that did nt apply for it?
Answers
Answer:
This is the "pre-approved" loan issuing model.
Explanation:
This is a sales/marketing effort, in which access to credit is facilitated by providing potential consumers with a pre-approved offer. Normally, there is some study/intelligence behind (socio-economic and other factors) before people in a certain area would receive these offers. This makes people "believe" that they are closer to getting a loan due to the pre-approved nature of the offer, but this is just to catch their attention and turn this into a "sale" for the bank. Sometimes, people would only consider getting a loan if they already received an offer.
what is the most important concept (or)stratergy bussiness man use to develop the bussiness in the market?
Answers
Answer:
SWOT they first look for their Strength, Weakness, Opportunities and Threats
Multiple-choice help me, pls.
16) If the supply of iPads increases, then
i. the supply curve for iPads has shifted rightward.
ii. the price of iPads has decreased.
iii. there will be a movement upward along the iPad supply curve.
A) i only
B) i, ii and iii
C) i and ii
D) ii and iii
E) i and iii
30) Which of the following statements is correct?
A) Consumer surplus equals the price paid for a good.
B) The consumer surplus from a good is always larger than the total benefit from the good.
C) An increase in price decreases consumer surplus.
D) An increase in price has no effect on consumer surplus.
E) The consumer surplus from a good or service must always equal producer surplus.
Answer:
33) A firm's marginal revenue is
A) the change in total revenue that results from a one-unit increase in the quantity sold.
B) total revenue minus total cost.
C) the change in total revenue minus the change in total cost.
D) the change in total revenue that results from an increase in the demand for the good or service.
E) less than the market price for a perfectly competitive firm.
Answer:
34) Suppose a perfectly competitive firm's minimum average variable cost is $3 when it produces 50. If the price is $2 and the firm's marginal cost is $2, the firm should
A) continue to produce, but produce more than 50.
B) continue to produce 50.
C) continue to produce, but produce less than 50.
D) shut down.
E) continue to operate, but to determine the amount of production needs more information than is given.
Answer:
42) Discretionary fiscal policy is a fiscal policy action, such as
A) an interest rate cut, initiated by an act of Congress.
B) an increase in payments to the unemployed, initiated by the state of the economy.
C) a tax cut, initiated by an act of Congress.
D) a decrease in tax receipts, initiated by the state of the economy.
E) an increase in the quantity of money.
Answer:
43) The magnitude of the government expenditure multiplier is ________ the magnitude of the tax multiplier.
A) greater than
B) equal to
C) less than
D) not comparable to
E) greater than for expansionary policy and less than for contractionary policy
Answer:
44) An increase in government expenditure can ________ potential GDP and an increase in taxes can ________ potential GDP.
A) increase; increase
B) increase; never change
C) decrease; decrease
D) never change; never change
E) increase; decrease
Answer:
45) When the Fed increases the federal funds rate,
A) there is no effect on investment because investment depends on the real interest rate.
B) the real interest rate falls, and investment increases.
C) the real interest rate rises, and investment decreases.
D) the real interest rate is unaffected, but investment still decreases.
E) the real interest rate rises, and investment does not change.
Answer:
46) The Fed raises the federal funds rate. Which of the following changes occurs most rapidly?
A) Exchange rate rises.
B) Consumption expenditure decreases.
C) Aggregate demand decreases.
D) Real GDP growth decreases.
E) Inflation rate decreases.
Answer:
47) If the Fed increases the quantity of money and lowers the federal funds rate, real GDP ________ and the price level ________.
A) increases; increases
B) increases; decreases
C) decreases; increases
D) decreases; decreases
E) increases; does not change
Answer:
48) Raising the federal funds rate shifts the aggregate demand curve ________ so that real GDP ________ and the price level ________.
A) rightward; increases; rises
B) leftward; decreases; rises
C) rightward; increases; falls
D) leftward; decreases; falls
E) leftward; increases; rises
Answer:
Answers
30. C
33. A
34. D
Question Completion Status:
Define the term packaging and give an example from the case study.
Answers
The company in the packing sector set up a joint body named in order to carry out research into the environmental and social effects of packaging.
They commissioned an unbiased look at on packaging in a market economic system. The findings from the studies have been used to sell exact packaging practices and to inform the legislators, consumers, and hobby groups.
The environmental effect of packaging turned into closely monitored and the choice of packaging become defined.
The producer of products made positive that the packaging standards complied with the subsequent conditions.
• protecting public health
• protecting the surroundings
• protective themselves
• defensive their business by way of keeping their products competitively priced
• offering presentation and branding.
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Write about why it is important for world leaders to make just decisions for their people and to treat neighboring countries with respect.
Answers
Answer: Approaches to authority and decision making are not the only ways in which cultures differ, but they are arguably the most important in the leadership context. ... (For a more general treatment of cultural differences, take a look at my May 2014 ... with companies in those countries, you might have noticed that a lot of people ...
Explanation:
business studies grd 12 presentation on business environment
Answers
The business environment is the set of internal and external factors that affect the operations and success of a business. It includes factors such as economic conditions, political and legal systems, technological advancements, social and cultural factors, and competitive forces.
Understanding the business environment is important for businesses because it enables them to identify opportunities and threats that may impact their operations.
Businesses can then use this information to make informed decisions about their strategies and plans.
For example, a business operating in a highly competitive market may need to focus on product differentiation or cost reduction strategies to stay competitive.
Similarly, a business operating in an unstable economic environment may need to adjust its pricing or marketing strategies to remain viable.
In summary, the business environment is a complex and dynamic system that affects businesses in various ways, and understanding it is critical for success in the business world.
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An implied power is one that:
A: is clearly outlined in the Constitution.
B: gives the Supreme Court power to revise the Constitution.
C: overrules the wording of the Constitution.
D: is suggested by the Constitution, but not specifically stated.
Answers
Answer:
Option D
Explanation:
Implied powers are powers that aren't exactly stated in the Constitution but are assumed because of other powers that are similar in ways of the following are stated in the constitution. Which means your answer is option D or "is suggested by the Constitution, but not specifically stated." One of the most common examples of an implied power, is the government's ability to collect taxes. Although not specifically stated in the Constitution is it easy to assume speaking how the government has the power to start war, and war isn't cheap you need funds.
Hope this helps.
An implied power is suggested by the Constitution, but not specifically stated. The correct option is d.
A constitution is the collection of fundamental principles and established precedents that serve as the legal foundation of a polity, organisation, or other form of body and typically dictate how that entity is to be governed. When these ideas are enshrined in a single document or group of legal papers, the documents are said to embody a written constitution; when they are enshrined in a single complete document, the document is said to embody a constitution that has been The United Kingdom's Constitution is an example of an uncodified constitution; it is written in various basic Acts of a legislature, court cases, or treaties.
Constitutions apply to various levels of organisations, ranging from sovereign countries to corporations and unincorporated societies.
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Word processing software
All companies must be truthful in their advertising and not make false claims. You have likely heard or read such claims. For example, questionable claims often come from companies that make diet pills or beauty products. Or, perhaps you or someone you know have received a fraudulent robocall.
The Federal Trade Commission (FTC) operates the Bureau of Consumer Protection to enforce fair and truthful business practices, and to investigate complaints about those that are unfair, deceptive, or fraudulent.
In this activity, you will research ads from at least three companies and determine if they appear to be truthful or deceptive. You will also include an example of a robocall. Follow these steps to complete this activity. You will create a report and a chart in Word based on the directions below.
Step 1:
View or listen to ads for products or services online, on your phone, or on television.
Take notes on at least three ads (especially those that appear potentially suspicious to you) and list the following:
Name of the company and its product or service
Stated claim about the product or service
Your assessment of the truth or falsehood of the ad
Step 2:
Write a brief report in Word, including the following details:
Explain how and where you gathered your info (online, etc.)
Describe a robocall you or someone you know has received and explain how it was identified as a robocall
Step 3:
Add a chart following your report:
Include four columns with headings: Name of Company, Product/Service, Claim, True/False
Include at least four rows: one for column headers, and three for at least three ads
Input your information from your research notes
Explain why you believe or question the validity of the claim
Answers
The L'Oreal Revitalift ad is false because the claim that it reduces wrinkles and firms skin in just one week seems unrealistic and unlikely to be true.
On the other hand, I believe that the Noom ad is true because the claim that you can lose weight without giving up the foods you love is consistent with their program, which focuses on calorie counting and moderation rather than deprivation.
Finally, I believe that the Luminess Airbrush Makeup ad is false because the claim that the makeup is flawless, natural-looking, and lasts all day and night seems exaggerated and unlikely to be true in real-life scenarios.
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Howell Petroleum, Incorporated, is trying to evaluate a generation project with the following cash flows: Year Cash Flow 0 −$ 37,000,000 1 55,500,000 2 −12,000,000 If the company requires a return of 8 percent on its investments, what is the NPV of the project? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Compute the IRRs for this project.
Answers
To compute the IRRs for this project, we can use a financial calculator or Excel's IRR function. In the given case, we get two IRRs because the cash flows change signs twice. Therefore, the project has two possible IRRs: 19.62% and 68.55%.
IRR stands for Internal Rate of Return. It is a financial metric used to evaluate the profitability of an investment. The IRR represents the discount rate at which the net present value (NPV) of all the cash flows from an investment equals zero.
In other words, it is the rate at which the investment earns a return equal to its cost. The higher the IRR, the more attractive the investment opportunity.
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If you own 500 shares of stock in a company that has 100,000
shares of stock outstanding, what fraction of the firm do you own?
Answers
Answer:
1/200
Explanation:
The fraction will be the shares owned divided by the outstanding shares
=500/100,000
=5/1000
=1/200
The fraction is 1/200
what is paying divedends to stockholders do?
Answers
Dividends are paid out by companies as a strategy to reward present stockholders and lure in new ones.
Owners of one or more shares of a company's capital stock are referred to as stockholders or shareholders. As a result of being seen as distinct from the corporation, an investor is only partially liable for its debts. Common stockholder is a term used to describe a person who owns shares of common stock in a firm. The corporation's board of directors is chosen by the company's common investors, who also cast ballots on specific decisions like the company's merger with another corporation. When a business succeeds more and more, common stockholders typically benefit financially. Some businesses also issue preferred stock along with common stock. Preferred stockholders are the people who own shares of preferred stock.
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Freida bought an arcade gaming system with a sticker price of $2500. She received an installment loan and will pay $150 per month for 2 years. When the loan has been paid in full, how much will Freida have paid for the arcade system?
Answers
Answer:3600
Explanation:
When the loan has been paid in full, $3600 will Freida have paid for the arcade system.
To figure out how much Freida spent for the arcade system, multiply the amount she paid each month by the number of days in two years, which is 24.
number of months in 2 years = 12 + 12
number of months in 2 years = 24
will pay $150 per month
$150 × 24 = $3600.
When the loan is paid in full, the arcade equipment will cost $3600.
As a result, the significance of the Freida have paid for the arcade system are the aforementioned.
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The controlling function should be practiced regularly, not just at the end of the year. True or False
Answers
Answer:
def false
Explanation:
The controlling function should be practised regularly, not just at the end of the year, is the false statement.
What is controlling function?Controlling ensures that resources are utilized effectively and efficiently inside the company in order to achieve the desired outcomes. Calculating the discrepancy between the actual and planned performance, identifying the causes of the discrepancies, and assisting in the implementation of corrective actions are all part of controlling.
The "control function" in Example 1 refers to a compliance, risk management, internal audit, legal, human resources, accounting, financial reporting, or finance role that is in charge of quantifying, monitoring, or regulating risk-taking.
The controlling process in company management is when managers establish, oversee, and enhance their business operations while managing cost control.
Thus, the statement is false.
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20. The shipment of goods or rendering of services to a foreign buyer, located in a
foreign country is:
Importing
Exporting
Foreign Exchange
Importing and Exporting
Answers
You want employees to know that they can talk to retirement planning
Answers
Answer:
well I don't want any employees haha but yes the retirement of the employees should be grand with a farewell party
Roberto Corporation was organized on January 1, 2021. The firm was authorized to issue 84,000 shares of $5 par common stock. During 2021, Roberto had the following transactions relating to shareholders' equity: Issued 10,800 shares of common stock at $6.00 per share. Issued 20,400 shares of common stock at $8.20 per share. Reported a net income of $108,000. Paid dividends of $59,000. Purchased 3,100 shares of treasury stock at $10.20 (part of the 20,400 shares issued at $8.20). What is total shareholders' equity at the end of 2021
Answers
Answer:
$249,460
Explanation:
Calculation to determine the total shareholders' equity at the end of 2021
Issued of stock $64,800
(10,800 shares * $6.00 per share)
Issued of stock $167,280
(20,400 shares * $8.20 per share)
Net income $108,000
Less dividends ($59,000)
Less Treasury stock $31,620
( 3,100 shares* $10.20)
Total shareholders' equity $249,460
Therefore total shareholders' equity at the end of 2021 is $249,460
What is VAT
Value added tax in business
Answers
Answer:
Value-added-tax is a tax that is assessed incrementally, and is levied on the price of a product.
Value-Added Tax (VAT) is a tax, which is payable on sales of goods or services within the territory of the Member States of the EU. The tax, in all cases, is ultimately payable by the final consumer of the good or service
Why is it important to stick to a study schedule even if you are caught up with everything? a It guarantees higher grades on your exams. b It helps to create good study habits. c It is time set aside so you can take a break from watching television. d It gives you more time to play your favorite game without interruption.
Answers
Answer:
Explanation:
B - It helps to create good study habits.
Consider the following BPMN diagram:
Answers
If we look at the process model, we can see that Task A is the first task and must always be completed in order for the model to be run. Further observation reveals that because an exclusive gateway is employed, any of the two jobs, B and C, is carried out individually rather than simultaneously. As we continue to move through the BPMN diagram, we see that task M is the conversing task and is therefore always run along with a networks message flow from it to task F, which is done as soon as a message is received in pool 2 and finishes.
An item of networking hardware or software called a gateway is used in telecommunications networks to allow data to go from one distinct network to another.
The way that gateway differ from routers and switches is that they can join various networks using more than one protocol to communicate and that they can function at any of the seven OSI levels.
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When would power of attorney be needed? A. when someone dies unexpectedly B. when a person is unable to manage their affairs C. when someone dies but there is no will and the estate must be managed D. when a living will is not in place and beneficiaries must be named
Answers
Answer:
B
Explanation:
Answer:
B. When someone is unable to manage their affairs
Explanation:
In a table, what is a field?
Answers
In a table, a field contains data about one aspect of the table subject.
Due to the fact that they contain all the data or information, tables are crucial database objects. You should always begin your design of a database by constructing all of its tables before developing any other items since other database objects rely so heavily on tables. Records (rows) and fields (columns) make up a table.
Data can be entered in fields in a variety of formats, including text, numbers, dates, and hyperlinks. Each field in a table provides information specific to that field's subject, such as the first name or email address. You can modify the properties of tables and fields to alter their appearance or behaviour. A field property pertains to a specific field in a table and describes a feature or attribute of the field's behaviour.
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Answer:
Explanation:
In a table, a field contains data about one aspect of the table subject.
Which is NOT a way to increase your net worth?
Answers
One way that you cannot use to increase your net worth is by increasing your liabilities.
How can you increase your net worth?Our net worth refers to the amount of assets that we have which in excess of the liabilities that we may have.
The formula for net worth is:
= Assets - Liabilities
This means that if we want to increase our net worth, we should try first and foremost to increase our assets. Assets include the amount of money we have, the property we own, and generally other things we can own including investments.
We should avoid liabilities to increase our net worth, and if we must incur them, we should be sure to pay off the ones that have higher interest and so can grow faster, first. Increasing liabilities, is therefore not a way to increase net worth.
Options for this question include:
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If you were the manager of these employees, what would you do to motivate them? Be honest regarding your personal management style and beliefs rather than trying to be like Roy Pelaez.
Answers
As the plan changes, one of the finest ways to inspire people is through active participation. Give the team the tools they need to succeed and the freedom to do it their way once they have embraced the new strategic plan and comprehended it.
What leadership style can I utilize to inspire my staff?Positive incentives like incentives, bonuses, and stock options are used in transactional management style to encourage employees to increase their performance. A different way to say it is that the transactional management approach depends on enticing workers with external rewards.
What does self-motivation look like in the workplace?committing time to work outside of the office and volunteering on projects. supplying insightful suggestions to assist the team go forward.
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What have you learned from the self-reflection in this class, and how do you think it will help you in the workforce? Be specific.
Okay, I will give you 45 points and mark you Brainliest if you answer this as good as you can. I would really appreciate if you can answer before 10:00pm 12/07/2020.
THANK YOU!!!
Answers
Answer:
The first week of this unit I had a mix of emotions, excitement and stress . The topics covered each week have giving me the opportunity to increase my knowledge in many areas. Having an interest in teaching when I started this course has now grown to having an interest in learning as well. Reflecting on my education as a child has shown me the growth in teaching and our current education system.
Professionalism was a great way to start the unit; this topic has giving me the chance to understand the responsibilities that teachers have to students and their parents. On beginning this topic I believed that professionalism was about ethics and how teachers conducted themselves in and out of the classroom. However while this is…show more content…
Cognitive learning and constructing knowledge are topics that hold a strong interest to me. Working with children that have language disorders and cognitive issues the more knowledge I gain in this area assist with the quality of instruction that I provide. Meaningful learning is vital in assisting students to learn and to store newly learned knowledge. Students will benefit from high quality concrete examples, simple and precise instructions. Language development should be encouraged and modelled students should have the opportunity to ask questions. Introducing new words within instructions will assist the student in extending their vocabulary. It is important for all students to put into words their understanding of the tasks being taught.
Understanding cognition and how we learn is essential in the developmental stages of children. Not all students learn in the same way, understanding the cognitive process will assist in the development of the students. By modifying my approach when giving instructions I have noticed growth in current students that I am working with. Using concrete materials and giving the opportunity for students to be involved in hands-on activities on a daily basis, is essential in making new material meaningful to learners.. The knowledge gained from this topic has increased my understanding.
Explanation: