Business, 12.03.2021 15:50 22emilyl530

The following balances were drawn from the accounts of Stripling Company as of December 31, Year 1. Accounts Receivable $60,000
Allowance for Doubtful Accounts $9,000
During Year 2 Stripling earned $700,000 of revenue on account and collected $710,000 cash from accounts receivable. Also, the company wrote off $8,000 of accounts receivable that were classified as uncollectible during Year 2. If Stripling estimates uncollectible accounts expense to be 1% of revenue, the net realizable value of receivables as of December 31, Year 2 will be.
a. $50,000.
b. $32,000.
c. $34,000.
d. $42,000.

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 13:00

2. explain two ways that an informational interview is different from a job interview 3. describe two ways that an informational interview would be a benefit to you. 4. write two questions that you would ask in an informational interview. answer all in complete sentences for brainliest!

Answers: 3

Answer

Business, 21.06.2019 20:30

Which of the following best describes how the federal reserve bank banks during a bank run? a. the federal reserve bank regulates exchanges to prevent the demand for withdrawals from rising above the required reserve ratio. b. the federal reserve bank acts as an insurance company that pays customers if their bank fails. c. the federal reserve bank has the power to take over a private bank if customers demand too many withdrawals. d. the federal reserve bank can provide a short-term loan to banks to prevent them from running out of money. 2b2t

Answers: 2

Answer

Business, 21.06.2019 20:50

Last year, western corporation had sales of $5 million, cost of goods sold of $3 million, operating expenses of $175,000 and depreciation of $125,000. the firm received $40,000 in dividend income and paid $200,000 in interest on loans. also, western sold stock during the year, receiving a $40,000 gain on stock owned 6 years, but losing $60,000 on stock owned 4 years. what is the firm's tax liability?

Answers: 2

Answer

Business, 22.06.2019 03:10

On the first day of the fiscal year, a company issues an $7,500,000, 8%, five-year bond that pays semiannual interest of $300,000 ($7,500,000 × 8% × ½), receiving cash of $7,740,000. journalize the first interest payment and the amortization of the related bond premium. round to the nearest dollar. if an amount box does not require an entry, leave it blank.

Answers: 3

Answer

You know the right answer?

The following balances were drawn from the accounts of Stripling Company as of December 31, Year 1....

Questions