The balance in accounts receivable at the beginning of 2021 was $690. During 2021, $3,200 of credit sales were recorded. If the ending balance in accounts receivable was $170 and $100 in accounts receivable were written off during the year, the amount of cash collected from customers during 2021 was:
Answers
Answer:
$3,620
Explanation:
Accounts receivable at the beginning + recorded credit sales -accounts receivable written off -ending balance accounts receivable.
Therefore:
$690+$3,200-$100-$170 =$3,620
Related Questions
Watkins Associated Industries is a highly diversified company with three divisions: Trucking, Seafood, and Construction. Assume that the company uses return on investment and residual income as two of the evaluation tools for division managers. The company has a minimum desired rate of return on investment of 10% with a 30% tax rate. Selected operating data for three divisions of the company follow.Trucking Division Seafood Division Construction DivisionSales $1,250,000 $800,000 $950,000Operating assets 650,000 300,000 400,000Net operating income 146,250 52,800 79,6001) Compute the return on investment for each division. 2) Compute the residual income for each division.
The centralized computer technology department of Hardy Company has expenses of $320,000. The department has provided a total of 4,000 hours of service for the period. The Retail Division has used 2,750 hours of computer technology service during the period, and the Commercial Division has used 1,250 hours of computer technology service. Use the following data: Retail Division Commercial Division Sales $2,150,000 $1,200,000 Cost of goods sold 1,300,000 800,000 Selling expenses 150,000 175,000 Required: Determine the divisional income from operations for the Retail Division and the Commercial Division. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.
What rate of interest with continuous compounding is equivalent to 8% per annum with monthly compounding?
The Victor Company sells two products. The following information is provided: Product A Product BUnit selling price$100 $150 Unit variable cost$30 $70 Number of units produced and sold 20,000 60,000 What is the weighted average contribution margin per unit?A. $75.00B. $80.00C. $77.50D. $72.50
Answers
Explanation:
As we know that the inventory should be recorded at the lower cost or net realizable value whichever is lower
And, the same is shown on the attachment which is attached below:
The net realizable value for each products is computed by
= D - C - E
The DCE are the rows of the attached spreadsheet
And, the proper unit value for each products is as follows
Product Lower of cost or NRV
D 92
E 75
F 73
G 43
H 61
I 44
Suppose that Italy and Austria consider trading shoes and fish with each other. Italy can gain from specialization and trade as long as it receives more than _______ of fish for each pair of shoes it exports to Austria. Similarly, Austria can gain from trade as long as it receives more than _______ of shoes for each pound of fish it exports to Italy.
Based on your answers to the previous question, which of the following terms of trade (that is, price of shoes in terms of fish) would allow both Austria and Italy to gain from trade? Check all that apply.
(A) 8 pounds of fish per pair of shoes
(B) 1 pound of fish per pair of shoes
(C) 15 pounds of fish per pair of shoes
(D) 3 pounds of fish per pair of shoes
Answers
Answer:
Section 1..... Italy has a comparative advantage in the production of shoes, and Austria has a comparative advantage in the production of fish.
Section 2.... 5 pounds of fish, ; 1/10 pairs of shoes
Section 3..... A and C.
Explanation:
The comparative advantage is known to be a term that is in use in the economic world,where a country or company has the ability of producing goods at extremely lower cost compared to that of its partners or competitors.
This is very important because, the country or company will be able to produce its goods by making use of fewer resources.
And thereby gives the country or company an edge in selling its goods at a reasonable lower price when compared with that of its competitors.
In this case, it is summarized or concluded that, Italy has a lower opportunity cost of producing shoes. So, Italy has a comparative advantage in shoes and Sweden has a comparative advantage in fish.
the goods at the production facility before they reach the customer.
the design specifications. goods at the supplier's plant.
one's own work.
Answers
Answer:
the goods at the production facility before they reach the customer.
Explanation:
- A source inspection is the quality inspection in which the buyers need the quality check before the material is received and come sunder the total quality management.
Answers
Answer:
-Price elasticity of demand (PED )= 0.38
-The PED is less than one, therefore the demand is price inelastic.
Explanation:
Price elasticity of demand (PED) is the degree of responsiveness of quantity demanded to a unit change in the price of the product all other things being equal. This index measures the corresponding magnitude by which quantity demand will increase, for example, if the price reduces by a given %.
Price elasticity of demand Index is interpreted as follows:
if PED greater than 1, product is elastic
if PED less that 1, product is inelastic
PED is very useful in pricing policy. For example, a product that is price elastic will accrue more revenue if the seller reduces its price and vice versa
The price elasticity of demand for a product can be computed as follows:
PED = % change in qty DD/ % change in price
So we can compute the PED for Duffy-Deno as follows:
PED = 3.8%/10%
The PED is less than one, therefore the demand is price inelastic.
Final answer:
The elasticity of demand for broadband access capacity for firms is -0.38. Because the absolute value is less than 1, the demand is considered inelastic.
Explanation:
Elasticity of demand is calculated as the percentage change in quantity demanded divided by the percentage change in price. Here, the price of broadband access increased by 10% and the quantity demanded decreased by 3.8%. This gives an elasticity of -3.8% / 10% = -0.38. Demand is considered inelastic if the absolute value is less than 1. Hence, the demand for broadband access capacity for firms is inelastic.
Learn more about Elasticity of Demand here:
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b.The time to complete setup activities that do not require that the machine be stopped
c.The time it takes equipment vendors to set up the machine
d. None of the above
Answers
Answer: The correct answer is "b.The time to complete setup activities that do not require that the machine be stopped".
Explanation: External setup time refers to the time to complete setup activities that do not require that the machine be stopped.
External setup is the term used to refer to when workers can perform maintenance without stopping the production process. The term "external" is used because maintenance can be performed "external" to the production process.
Answers
price per share of the company's stock is $53.28
Explanation:
Under dividend growth model a stock is overvalued or undervalued assuming that the firm’s expected dividends grow at a value g forever, which is subtracted from the required rate of return or k.
Therefore, the stable dividend growth model formula calculates the fair value of the stock as P =D1 / ( k – g ).
P= price per share
D1 = current dividend
k = required return
g = growth rate
P= $3.41 ÷ (11 % - 4.6% ) =( 3.41 ÷ 0.064 )= $53.28