chez fred bakery estimates the allowance for uncollectible accounts at 3% of the ending balance of accounts receivable. during 2021, chez fred's credit sales and collections were $125,000 and $131,000, respectively. what was the balance of accounts receivable on january 1, 2021, if $180 in accounts receivable were written off during 2021 and if the allowance account had a balance of $750 on december 31, 2021?
Answers
If $180 in accounts receivable were written off during 2021 and if the allowance account had a balance of $750 on december 31, 2021, the balance of accounts receivable on January 1, 2021 was $31,180.
To solve this problem, we need to use the following formula:
Ending balance of accounts receivable = Beginning balance of accounts receivable + Credit sales - Collections - Accounts written off
We are given that credit sales during 2021 were $125,000 and collections were $131,000, so the net increase in accounts receivable due to credit sales is:
$125,000 - $131,000 = -$6,000
This means that the beginning balance of accounts receivable must have been $6,000 higher than the ending balance. We are also given that $180 in accounts receivable were written off during 2021, so we can add that to the collections to get the total amount that was removed from the accounts receivable balance:
$131,000 + $180 = $131,180
Finally, we know that the allowance for uncollectible accounts is estimated at 3% of the ending balance of accounts receivable. Since the allowance account had a balance of $750 on December 31, 2021, we can set up the following equation to solve for the ending balance of accounts receivable:
$750 = 3% x Ending balance of accounts receivable
Ending balance of accounts receivable = $750 / 3% = $25,000
Now we can use the formula above to solve for the beginning balance of accounts receivable:
$25,000 = Beginning balance of accounts receivable - $6,000 - $180
Beginning balance of accounts receivable = $31,180
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Related Questions
Who are the majority of businesses in resort towns targeted to?
O
seniors
O
tourists
O
employees
investors
Answers
The majority of businesses in resort towns target tourists.
Who is the luxury hotel industry's target customer?As you can see, a wide range of people from across all walks of life who are prepared to pay a little extra for the luxury hotel experience makes up the target audience for luxury hotels.
What advantages come from forming and focusing on prospect groups?Overall, specialization is the main advantage of identifying and pursuing niche markets. Finding more wealthy guests who will gush about your hotel will be easier if you can be more precise with your market segmentation.
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What is the income threshold for self-employed workers to file a tax return.
Answers
Answer:
$400 or more
Explanation:
Question 3 of 25
Which of the following statements best explains why some people get life
insurance and others don't?
A. Life insurance is a cost that has no direct benefit.
B. Some people have more than one life-insurance policy.
C. Different people are willing to face different kinds of risks.
D. Some life insurance companies go out of business before you die.
Answers
In a situation in which genes assort independently, what is the ratio of the gametes produced by an AaBB individual?
In a situation in which genes assort independently, what is the ratio of the gametes produced by an AaBB individual?
a 1 AB : 1 aB
b 1 A : 1 B
c 3 A : 1 B
d 3 AA : 1 BB
e 3 AB : 1 ab
Answers
In a situation where genes assort independently, the ratio of the gametes produced by an AaBB individual would be:
c) 3 A : 1 B
This ratio represents the proportion of different combinations of alleles that can be found in the gametes produced by the individual. In this case, the AaBB individual has two heterozygous gene pairs (Aa and BB), and each gene pair segregates independently during gamete formation.
For the Aa gene pair, there are two possible alleles (A and a), and for the BB gene pair, there are two possible alleles (B and B). When these gene pairs assort independently, the gametes will contain a random combination of alleles from each gene pair.
Therefore, out of the total gametes produced, 3/4 (or 75%) will have the A allele (either AA or Aa) and 1/4 (or 25%) will have the B allele (BB). This can be expressed as a ratio of 3 A : 1 B.
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8
Select the correct answer.
Which area of engineering focuses on the design, construction, and maintenance of energy facilities?
ОА. .
chemical engineering
OB.
civil engineering
OC.
mechanical engineering
OD.
environmental engineering
Reset
Next
Answers
Answer:
civil engineer is the answer
pension fund manager is considering three mutual funds. The first is a stock fund, the second is a long-term government and corporate bond fund, and the third is a T-bill money market fund that yields a sure rate of 5.5%. The probability distributions of the risky funds are: Expected Return Standard Deviation Stock fund (S) 15 % 32 % Bond fund (B) 9 % 23 % The correlation between the fund returns is 0.15. Suppose now that your portfolio must yield an expected return of 12% and be efficient, that is, on the best feasible CAL. a. What is the standard deviation of your portfolio? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Answers
The standard deviation of the portfolio is 7.09%.
What is the proportion of stock in minimum risky portfolio?= [(0.23)² - (0.32*0.23*0.15)] / [(0.32)² + (0.23)² - (2*0.32*0.23*0.15)]
= 0.31421708452
= 31.42%
What is proportion of bond fund in minimum risky portfolio?= 1 - 0.31421708452
= 0.68578291548
= 68.58%
What is the expected return of minimum risky portfolio?= 0.3142*15% + 0.6858*9%
= 0.04713 + 0.061722
= 0.108852
What is the standard deviation of your portfolio?= ((0.6858)² * (0.23)² * (0.3142)² * (0.33)²) + ((2 * 0.6858 * 0.3142 * 0.32 * 0.23 * 0.15))^0.5
= (0.00026747972 + 0.00475776218)^0.5
= 0.0050252419^0.5
= 0.0708889406
= 7.09%
Therefore, the standard deviation of the portfolio is 7.09%.
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How important is money
Answers
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
the theory advocates government intervention in highly capital-intensive, high entry-barrier industries in which domestic firms may have little chance without government assistance. group of answer choices product life cycle laissez faire strategic trade absolute advantage
Answers
The strategic trade theory advocates government mediation profoundly capital-serious, high passage obstruction businesses in which homegrown firms might have minimal possibility without government assistance. option (C) is correct.
Strategic trade is the control of the product, import, global travel, and parcel of specific wares to specific beneficiaries or for guaranteed end-utilizes/end-clients and in specific conditions.
Strategic trade policy (STP) is an administration strategy that endeavors to move overabundance benefits in oligopolistic global business sectors toward the nation of origin firms. For instance, a Chief at the same time seeking a specific degree of productivity and piece of the pie expansions in new developing markets.
Therefore, option (C) is correct.
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This question is not complete, Here I am attaching the complete question:
The theory advocates government intervention in highly capital-intensive, high entry-barrier industries in which domestic firms may have little chance without government assistance. group of answer choices product (A) life cycle
(B) laissez faire
(C) strategic trade
(D) absolute advantage
Can I earn by brainly?
Answers
Answer:
huh?
Explanation:
A decision was made to cut the soil form the borrow site and use it to construct an embankment of
a total volume of 80,000 m3 with a relative compaction of 90%. A truck with a tray capacity of 17m3
is used to transport the material; how many truck loads are required to transport the required
amount of soil? Assume soil bulking (an increase in volume of soil after cut) of 8%.
Answers
The total volume of the embankment is 80,000 m³. Bulking is a process that involves the increase in volume of soil after cut.
The question states that bulking has increased the soil volume by 8%. This implies that the volume of the soil before bulking (without considering the increase in volume of the soil) is:
Volume of soil before bulking (V1) = 80,000 m³ / (1 + 0.08) = 74,074.07 m³
We can compute the number of truckloads required to transport the soil using the following steps:
Calculate the volume of soil that a single truckload can transport
Volume of soil per truckload = Tray capacity × Relative compaction= 17 m³ × 0.90= 15.3 m³
Calculate the number of truckloads required to transport the soil
Volume of soil to be transported = Volume of soil before bulking = 74,074.07 m³
Number of truckloads = Volume of soil to be transported / Volume of soil per truckload
= 74,074.07 m³ / 15.3 m³/truckload
= 4,839.17 truckloads or 4839 rounded off to the nearest whole number
Hence, approximately 4,839 truckloads are required to transport the required amount of soil.
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How do you calculate marginal cost from production cost?
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marginal cost The difference in total production costs caused by creating or producing one extra unit is known as the marginal cost in economics.
Divide the variation in production costs by the variation in quantity to determine marginal cost. In managerial accounting, the idea of marginal cost is crucial because it may be used to maximize production through economies of scale within an organization. The overall costs involved in producing an additional good are what is referred to as the marginal cost. Therefore, it can be evaluated by changes in the costs associated with each extra unit. Because a corporation seeking to maximize profits will only create until marginal cost (MC) equals marginal income, marginal cost is a key concept in economic theory.
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trye or false in some small market teams current players who originally commanded a small salary
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Why is it necessary for agricultural practices to continue changing?.
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It is important for agricultural practices to continue changing so as to;
Increase agricultural produce.What is agricultural practices?agricultural practices are techniques that are used in cultivation of crops and rearing of animals.
With the evolvement of different techniques in agriculture, such as usage of machinery and cross breeding there has been increase in production of goods and animals.
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Which 4 methods allow clients to process digital payments from customers using QuickBooks Online Payments? (Select all that apply) 1Running a card through a card reader attached to a mobile device 2Entering payments manually as a Receive Payment 3Taking client payment via cryptocurrency 4Entering payments manually as a Sales Receipt 5Entering payments manually as a Credit Memo 6Sending a Sales Receipt to a customer via email 7Taking client payment via the Pay Now button on an emailed Invoice
Answers
The 4 methods that allow clients to process digital payments from customers using QuickBooks Online Payments are;
Running a card through a card reader attached to a mobile device.Entering payments manually as a Receive Payment.Sending a Sales Receipt to a customer via email.Taking client payment via the Pay Now button on an emailed Invoice.What is QuickBooks Online all about?QuickBooks Online helps the user to have access in paying Online Bill .
Therefore, the method helps the client to Run a card through a card reader attached to a mobile device.
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Which three factors are generally considered to be the most important when determining a target debt-equity ratio?
Answers
The debt-to-equity ratio is influenced by the company's capital structure. A company's debt-to-equity ratio will increase as more debt is used. Because of its position in a liquidation hierarchy relative to equity, debt often has a lower cost of capital than equity.
How do you evaluate the debt-to-equity ratio?The overall liabilities of a corporation are divided by the total amount of shareholders' equity to determine the debt-to-equity ratio. Most businesses and sectors consider a debt-to-equity ratio of less than 2.0 to be favorable.
The debt-to-equity (D/E) ratio demonstrates how much equity and debt are being used by a company to finance its assets. The D/E ratio indicates the capacity of shareholder equity to pay creditors in the case of a corporate downturn.
A straightforward metric to demonstrate how capital has been raised to operate a corporation is the debt-to-equity ratio. It's regarded as a crucial financial indicator because it shows a company's stability and capacity for capital growth.
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Which examples demonstrate common qualifications for Security and Protective Services careers? Check all that apply.
Brooke negotiates with the prison inmates she supervises.
Ami is comfortable working alone and making decisions in her work as a Private Detective.
Reed thinks of creative solutions for defending a client in court.
Vincenzo attends college for many years and earns a juris doctor degree.
Shameka watches for unusual activities and signs of danger as she guards a bank building.
Teddy is a Lifeguard who uses his strength to pull a person out of the water.
Answers
Answer:
2,5,6
Explanation:
Ami,shameka,teddy
Answer:
2,5,6
Explanation:
I need help please
someone help nred quickly
Answers
Tom's market research gave an insightful view into the tastes and proclivities of his customers in terms of their preference for three different herbal teas.
What is the research about?Scrutinizing the questionnaire responses uncovered that, out of the study sample, 78% recommended the jasmine deluxe flavor as the most favorable option, showing off a mighty demand of that brew from Tom's Teas' consumer base.
The camomile and nettle blend had the second highest percentage of replied with 10%, rejecting a moderate advantage for it. Meanwhile, only 4% case the vote in favor of the liquorice plus mint variation, which denotes meager levels of interest in the taste.
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if the economy is having issues with inflation and the fed wants to try to fight inflation, what will they try to do to the money supply?
increase it decrease it
Answers
If the economy is facing issues with inflation and the central bank, such as the Federal Reserve (Fed), wants to combat inflation, they will typically try to decrease the money supply.
To reduce the money supply, the central bank can implement various monetary policy tools. Here are a few examples:
Open Market Operations: The central bank can sell government securities (bonds) in the open market, reducing the reserves held by banks. This decreases the available funds for lending, thereby reducing the money supply.
Increase Reserve Requirements: The central bank can raise the reserve requirement, which is the percentage of deposits that banks must hold as reserves. By increasing the reserve requirement, banks have less money available for lending, reducing the overall money supply.
Raise Policy Interest Rates: The central bank can increase the target interest rate, often known as the policy or benchmark interest rate. Higher interest rates discourage borrowing and spending, which can help reduce the money supply and curb inflationary pressures.
By implementing these measures, the central bank aims to decrease the money supply, reduce spending and investment, and slow down the pace of economic activity, thereby combating inflationary pressures in the economy.
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Will mark BRAINLIEST!!!
Amanda works as an accountant at a small-sized firm that sends out multiple invoices daily. She wants to ensure that the firm's invoices have a professional look and format. Further, she wants to customize such invoices with the firm's logo. Which accounting program is most suitable for
Amanda's requirements?
A. OpenOffice Calc
В. QuickBooks
C. NetSuite
D. FreshBooks
E. Intact
Answers
Answer:
Netsuite
Hope this answer helps you :)
Have a great day
mark brainliest
Finished goods ______. Multiple choice question. is the same as cost of goods manufactured consists of completed, unsold goods consists of goods that require additional processing before being sold consists of goods that have been sold to customers during the period
Answers
Finished goods consist of completed unsold goods which have not been sold to customers.
What is Finished goods?Finished goods refer to completed goods or product that have pass through all the manufacturing process and completed they but have not be sold to the intending consumers.
They are completed processed products.
Therefore, Finished goods consist of completed unsold goods which have not been sold to customers.
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A submarine sends a sonar signal, which returns from another ship 2.250 s later. a. How far away is the other ship if the speed of sound in seawater is 1,530.0 m/s
Answers
To calculate the distance, we can use the formula: distance = speed x time.
Given that the time taken for the sonar signal to return is 2.250 seconds and the speed of sound in seawater is 1,530.0 m/s, we can plug in these values into the formula to find the distance.
We can enter these numbers into the formula to get the distance since the time it takes for the sonar signal to return is 2.250 seconds, and the speed of sound in water is 1,530.0 m/s.
Distance = 1,530.0 m/s x 2.250 s
Calculating this, we get:
Distance = 3,442.5 meters
Therefore, the other ship is approximately 3,442.5 meters away from the submarine.
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Why is it common for producers of services to sell through short distribution channels directly to the end user
Answers
Answer: “The people providing the service often fo so by interacting directly with the user”
Explanation: just took the quiz
Answer: B. The people providing the service often fo so by interacting directly with the user
Explanation: I just took the quiz and the answer was correct
Managers maintain and transmit culture through all of the following EXCEPT:A.rites.B.stories.C.language.D.technology.E.socialization.
Answers
Managers maintain and transmit culture through rites, stories, language, and technology. However, socialization is not typically a direct responsibility of managers.
While managers can create an environment conducive to cultural transmission, the process of socialization is often driven by individual employees and their interactions with colleagues and the broader organizational culture.
Socialization refers to the process of individuals adapting to the values, norms, and behaviors of a particular group or organization, and it occurs through informal interactions, peer relationships, and shared experiences. Therefore, while managers can influence socialization indirectly, it is not typically considered their primary responsibility for maintaining and transmitting culture within an organization.
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Which of the following elements comprise strategic management? (Check all that apply.)Multiple select question.a. formulationb. implementationc. realizationd. analysise. definition
Answers
The three main components of strategic management are strategic analysis, strategic choice, and strategy implementation.
Which components make up strategic management?Strategic management frequently entails strategy assessment, internal organization analysis, and company-wide strategy implementation.
What are the five components of strategy?These five components of strategy are arenas, differentiators, vehicles, staging, and economic logic. Donald Hambrick and James Fredrickson, two strategists, created this paradigm.
What are the fundamental four components of strategy?Visioning, goal-setting, resource allocation, and prioritization are the four most commonly acknowledged fundamental elements of corporate strategy.
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Help me please with my Economics Study Guide
Answers
Some key concept of Economics Study Guide you must understand two main branches of economics that are microeconomics and macroeconomics.
Economics is the study of how individuals, businesses, and governments allocate scarce resources to satisfy their unlimited wants and needs, it is divided into two main branches: microeconomics and macroeconomics. Microeconomics studies the behavior of individual consumers and producers, focusing on supply and demand, market structures, and consumer behavior, key concepts include elasticity, utility, and opportunity cost. Elasticity measures the responsiveness of demand or supply to changes in price or income. Utility is the satisfaction derived from consuming goods and services and opportunity cost is the value of the next best alternative that must be given up when making a choice.
Macroeconomics deals with the overall performance of an economy, addressing issues such as unemployment, inflation, and economic growth. Important concepts in macroeconomics are gross domestic product (GDP), fiscal policy, and monetary policy. GDP is the total value of goods and services produced in a country during a specific period. Fiscal policy refers to the use of government spending and taxation to influence the economy. Monetary policy is the control of the money supply and interest rates by a central bank, such as the Federal Reserve in the United States, to achieve economic objectives. So therefore understanding the concepts of microeconomics and macroeconomics can help you excel in your economics studies and provide a strong foundation for further exploration in the subject.
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When someone makes a choice, what are all the other alternatives that are given up by making that choice called?
Answers
When someone makes a choice, what are all the other alternatives that are given up by making that choice called trade-offs.
All of economics is about tradeoffs. Any circumstance where choosing one course of action results in giving up another, often foregoing a reward or opportunity, is referred to as a tradeoff. A bonus in one area must be a minus in another, and in these zero-sum circumstances we encounter tradeoffs. The investigation of how humans distribute limited resources and bargain over opportunity costs is a central tenet of economic theory.
If we apply economic principles to resources other than money, economics provides instruments that we may utilize as guides for achieving our goals in life. Even while we all understand that money isn't limitless, we frequently treat our time, energy, and attention as if they are.
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For profit maximizing farmers, which factor will determine how many acres of land to rent? Individuals will rent up until the price of an acre of land is equal to the value of the marginal product, or marginal revenue product, of an acre of land. Rent as long as the rental price is less than marginal profit. People will rent as many acres as possible. Each farmer will have his or her own reasons for choosing how much land to rent.
Answers
The determining factor for profit-maximizing farmers in deciding how many acres of land to rent is the equality between the rental price per acre and the value of the marginal revenue product of an acre of land.
Farmers will continue to rent land as long as the rental price is lower than the marginal profit they can earn from utilizing the additional land. Each farmer will have their own individual considerations and reasons for determining the optimal amount of land to rent.
When making the decision to rent land, farmers assess the additional revenue they can generate by cultivating more acres and compare it to the rental price. If the value of the marginal product of an additional acre of land (which represents the additional revenue generated from that acre) is greater than or equal to the rental price per acre, it is profitable for the farmer to rent more land.
This is because the additional revenue generated from cultivating the extra acre exceeds the cost of renting it. However, if the rental price per acre exceeds the value of the marginal product, it would be more cost-effective for the farmer to stop renting additional land, as the marginal profit would be negative. Therefore, farmers will rent as many acres of land as long as it is financially beneficial, considering their individual profit-maximizing goals.
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Corrie bought a new flat screen 70 inch television and a speaker system from a local electronics store on credit. The store will charge 12% per year compounded monthly. Their monthly payments are $174. 80 for 3 years. What is the cash price of her purchase?.
Answers
The cash price of her purchase is $5262.79
Present value=C*[1 - (1+i)^(-n)]/i
C=amount of payment per period
i=interest rate
n=number of payments
In this problem,
C=$174.80
i = 12% per year compounded monthly
= 12/(12*100)
= 0.01
n = 3*12 = 36 months
= Present Value = 174.80*[1 - (1+0.01)^(-36)]/0.01
Cash price = $5262.79
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The level of communication that occurs when people use telephone, reports and memos is referred to as
A. mediated communication
B. intra personal communication
C. inter personal communication
D. person to group communication
Answers
Answer:
A. Mediated communication
Explanation:
A. Mediated Communication is the type of communication that is facilitated by some kind of technology, be it social media, telephone, email, etc.
B. Intra-personal communication is the communication that takes place with yourself. It is when you reflect upon your work, life, and morals and get to know more about yourself.
C. Interpersonal communication is one that takes place between two people. It can further be of various types depending on whether it takes place within the company or outside it.
D. Person-to-group communication is when one person communicates to a group of people at one time. Some examples of the same can be seminars, webinars, or presentations.
what are the disadvantage of credit card
Answers
Answer: you don’t see your own money.
Explanation: