At the end of 2016, safer co. has accounts receivable of $700,000 and an allowance for doubtful accounts of $25,000. on january 24, 2017, it is learned that the company's receivable from madonna inc. is not collectible and therefore management authorizes a write-off of $4,300.
Safer Co.'s accounts receivable and allowance for doubtful accounts are reduced by $4,300 following the recognition of an uncollectible receivable from Madonna Inc.
Explanation:The student's question pertains to the practice of accounting for accounts receivable and the write-off procedure. At the end of 2016, Safer Co.'s total accounts receivable amount was $700,000, with an allowance for doubtful accounts of $25,000. However, in early 2017, it was discovered that the company's receivable from Madonna Inc. was uncollectable, necessitating a write-off of $4,300. This write-off is accomplished by reducing the accounts receivable and the allowance for doubtful accounts by $4,300, which modifies the company's financial statements.
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The inquiry involves an accounts receivable balance that begins at $700,000 and an allowance for doubtful accounts at $25,000. A noncollectable $4,300 receivable is written off, reducing both amounts to $695,700 and $20,700 respectively.
Explanation:The company starts with an accounts receivable balance of $700,000 and an allowance for doubtful accounts of $25,000. When they identify that the receivable from Madonna Inc. of $4,300 is uncollectible, this amount is written off.
The write-off is applied to the allowance for doubtful accounts. This leaves a balance of $20,700 ($25,000 - $4,300) in the allowance for doubtful accounts. Meanwhile, the accounts receivable balance is reduced to $695,700 ($700,000 - $4,300), reflecting the amount that the company still expects to collect. The process of writing off an uncollectible account helps maintain accurate financial records.
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Your textbook asserts _____________ and _______________ southerners had a direct interest in the peculiar institution.
Summarize what has caused a recent increase in the rate of extinction
Sonia's car was completely destroyed in an accident that was her fault. her loss was $8,500 and her insurance company reimbursed her $6,500. what amount of casualty loss can sonia claim on her return (before deduction limitations)
Final answer:
Sonia's claimable casualty loss before deduction limitations is the difference between the total loss of her car and the insurance reimbursement, which is $2,000.
Explanation:
In the scenario provided, Sonia experienced a total loss of $8,500 on her car due to an accident. The insurance company reimbursed her $6,500 for her loss. To calculate the casualty loss that Sonia can claim on her tax return, we must subtract the insurance reimbursement from the total loss. The calculation would be as follows: $8,500 (total loss) - $6,500 (insurance reimbursement) = $2,000. Therefore, the amount of casualty loss Sonia can claim on her return before any deduction limitations is $2,000.
What is not a common tradition in courtly love literary pieces?
A: a man who suffers for love
B: a man being hit by an angel's arrow
C: a lady whose appearance is perfect
D: a man who must prove himself worthy
An organization that is responsible for attracting and organizing sport events to help communities capitalize on the potential benefits of sport tourism is called a ____________.
One of the first corporations to be established in America was _____. the Virginia Company Benjamin Franklin’s printing business the Old Grist Mill none of the above
Answer:
The Virginia company
Explanation:
The Virginia company that originally originated from England, was founded in 1607 in America as a joint stock company that sell shares, to encourage settlement in Virginia . It is guided by the charter of Virginia . It allowed the King to enjoy the benefits of colonization , natural resources ,and new market for English goods.
The charter of Virginia delegates the power to leaders , governors and other officials to the company.It also have the responsibility to provide settlers and supplies for the business.
The main source of illumination used in three-point lighting is called the _____.
Which group of americans saw job opportunities expanded during wwii?
Since the introduction of medicare and medicaid in 1965, almost all federal health law has been aimed at ____ but without success
An insurance company divides its customers into 2 groups. twenty percent of customersare in the high-risk group, and eighty percent are in the low-risk group. the high-riskcustomers make an average of 1 accident per year while the low-risk customers make anaverage of 0.1 accidents per year. eric had no accidents last year. what is the probabilitythat he is a high-risk driver?
In north america, mobile phones were first used primarily for m-commerce purposes.
a. True
b. False
Jeffrey earned a gross income of $67,930 last year. He made $2,173.93 in student loan interest deductions, donated $2,824 to his favorite charities and paid $3,117.56 in home mortgage interest. Jeffrey claims a standard deduction of $11,400 for himself and his non-working spouse. If their exemption is $7,300, what is their taxable income?
a. $47,056.07
b. $52,514.51
c. $43,938.51
d. $41,114.51
Economics tells marketers that consumers' decisions are shaped by the total _____ their products offer.
Economics tells marketers that consumers' decisions are shaped by the total utility their products offer.
What is Economics?Economics is the branch of the study that is directed towards the satisfaction of needs and wants of the human beings through the proper collection of the scares resources. It talks about the scarcity and the choice of the resources.
Utility is defined by economists as the level of satisfaction received from the use of an item or service. It is a product's utility or capacity to meet the demands or desires of the client. The strength of a requirement or desire determines utility.
Unsatisfied desires and requirements drive up product demand. Intense demands raise demand. The supply and demand law states that the higher the desire, the greater the price.
Therefore, it can be concluded that Goods with a high utility value are those that can provide solutions to client needs. They will always be preferred by customers.
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Answer:
utility
Explanation:
Megan considered the median income and median value of homes in different cities to measure economic inequality. what is the unit of analysis in her study?
Any system that controls costs through closely monitoring the decisions of health care providers is known as
The answer is managed care. This is describe to a certain group in which they reduces the cost in regards of providing medical care in a way that they have also the ability of having their quality care to be improved.
What percent of u.s. businesses have some form of remote work program? 75 percent 25 percent 15 percent 35 percent 55 percent?
Karen doesn’t like driving to the local bank branch, but doesn’t think that it is secure to do financial transactions on her phone. What is the best banking option for her?
Answer: She should use online banking and only use her local bank when necessary.
Explanation:
Type: Telephone interview
Select the best answer choice.
a.Rick James: Contacted via telephone, September 17, 1984
b.Telephone interview: conducted 17 September 1984. Rick James
c.James, Rick. Telephone Interview. 17 September 1984
d.James, Rick: interviewed 17 September 1984
Answer:
C
Explanation:
In an interview, the right format is: Last name, First name. Type of Interview. Day Month Year.
Thus, C is the right option;
James, Rick. Telephone Interview. 17 September 1984.
Cheers
What is a projection?
A hurricane destroys 50% of the nation's oil refining capability. aggregate supply will
How can the fiscal policies of a country influence the finances of a single individual?
Answer: it can provide employment from government projects for them.
Explanation: Hope this helps.
From 1965 to 2013, women went from 9 percent to _____ percent of u.s. medical students. 52 30 47 12
A track coach wants to test the effectiveness of a new training program for distance runners. he selects his two fastest runners and, using a coin flip, randomly chooses one to participate in the new program. the other will continue with the standard training regimen. he then picks the next two fastest runners and randomly assigns one to each program. he repeats this process with all his runners, choosing the two fastest remaining each time. he then compares race times within each group of two runners. what is the name for this kind of experimental design?
The experimental design used by the track coach in the question is called a Matched Pairs Design, in which similar experimental units are grouped together and then randomly assigned to different treatments.
Explanation:The experimental design described in your question is called Matched Pairs Design. In a matched pairs design, similar experimental units are grouped into pairs. Within each pair, units are randomly assigned to different treatments. In this case, the track coach has grouped two fast runners together, then randomly assigned them to either the new or standard training program. Since race times are compared within each group, any differences in performance should be attributable to the different training programs, not differences in the runners' abilities. It's important to note that this design is not completely free of lurking variables. Factors such as nutrition, sleep, and motivation could still affect the race times.
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Which document puts you at the LEAST risk of identity theft? A Cash receipts B Pre-approved credit card offers C Old tax records D Paycheck stubs
Answer:
A Cash receipts
Explanation:
The receipt is the document that proves the payment of a certain amount of money, issued by the creditor (who receives), and addressed to the debtor (who pays).
There is no specific commercial regulation of the receipt, being the instructions of the Higher Banking Council and banking and commercial practices the additional rules of legal protection. According to these, the receipt is considered a trade effect with characteristics similar to the bill and the promissory note, being able to be endorsed and discounted whenever it is accepted.
The payment of the receipt is usually domiciled in a bank account, but it is also customary to collect at the address of the payer-released.
In the case of direct debit of the receipt, the written authorization of the debtor is necessary for the bank to charge or debit its payment. Once this entry has been made, the entity sends the receipt document to the debtor as proof of payment.
Your manager wants you to give her a paper copy of your first draft of a proposal for her to review. What spacing would you use, and why?
When preparing a paper copy of a first draft for a business proposal, use double spacing. This helps create a clean layout, improves readability, and provides space for review notes or corrections. Your proposal will be easier for your manager to read and review.
Explanation:In business communication and specifically in preparing a draft of a proposal, it is generally recommended to use double spacing. This gives the document a neat appearance and makes it easier for the recipient, in this case, your manager, to make notes or corrections on the paper copy.
The reason behind this is that double spacing creates clear demarcations between sentences and paragraphs, making it easier for the reader to focus and comprehend the content. Furthermore, the extra space also provides sufficient room for annotations and additional notes that your manager may wish to add during the review.
So, when you are preparing your first draft of a proposal, remember to set your document to double spacing to aid the process of review and revision.
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Companies with strong safety cultures usually have lower
Companies with strong safety cultures usually have lower industrial accidents caused by employee failure to follow instructions.
Explanation:Companies with strong safety cultures usually have lower industrial accidents caused by employee failure to follow instructions. A safety engineer conducted a study and found that 35 percent of all industrial accidents in her plant were caused by failure of employees to follow instructions. This demonstrates the importance of promoting a strong safety culture in companies to prevent accidents and ensure employee health and safety.
Ignoring safety concerns to cut costs can lead to dire consequences, including workplace hazards that may result in accidents, injuries, or fatalities. It can also negatively impact a company's bottom line through expensive lawsuits, recalls, and damaged reputations. On the other hand, companies can mitigate risks by providing employees with meaningful work, positive feedback, and a secure work environment, leading to enhanced overall company performance.
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Was the first nonsedating antihistamine drug; however, it has been taken off the market due to adverse effects when combined with certain other drugs.
What is a unit of sale?
Answer:
you only really need to copy a little bit of that like two sentences
The officer responsible for managing the firm's cash flows is the
The officer responsible for managing the firm's cash flows is the treasurer.
Explanation:The officer responsible for managing the firm's cash flows is the treasurer. The treasurer is in charge of overseeing the company's financial activities, including managing cash inflows and outflows, making investment decisions, and ensuring the organization has enough liquidity to meet its obligations.
For example, the treasurer may be involved in managing working capital, determining the appropriate level of cash reserves, monitoring cash collections and disbursements, and investing surplus cash.
In summary, the treasurer plays a crucial role in maintaining the financial health of the company by effectively managing its cash flows.