Business
Business, 10.04.2020 21:09, nanakwameyeb

In the beginning of Year 3 Omega Company had a $52,000 balance in its accounts receivable account and a $1,400 balance in allowance for doubtful accounts. During Year 3, Omega experienced the following events.

(1) Omega earned $220,000 of revenue on account.
(2) Collected $230,000 cash from accounts receivable.
(3) Wrote-off $1,000 of accounts receivable as uncollectible. Omega estimates uncollectible accounts to be 4% of receivables. Based on this information, the amount of net realizable value of receivables shown on the Year 3 balance sheet is?

a. $39,360.
b. $41,000.
c. $42,640.
d. $43,000.

answer
Answers: 1

Other questions on the subject: Business

image
Business, 21.06.2019 21:30, Ayomide19
Daniel owns 100 shares of abc corporation's common stock. abc uses the fair value option, and recent declines in the firm's credit rating have caused the value of the firm's outstanding bonds payable to drop by 10%. daniel feels this is good news, but he wants to know what you think about the situation. which of the following represents your best response? a : "this situation may be positive for you in that the change in abc's credit standing indicates that the value of the firm's assets is likely increasing. however, the drop in bond value may negate any positive effects on your bottom line, because it means your claim on the firm's assets is simultaneously decreasing." b : "actually, this is bad news all around. the drop in the value of abc's bonds payable means shareholders' claims on the firm's assets have decreased. moreover, abc's declining credit rating means that the firm's assets are probably also dropping in value, thus magnifying your losses even more." c : "on the surface, this seems like good news because it means your claim on the firm's assets has increased. however, the drop in creditworthiness may also indicate that abc's assets are declining in value, thus offsetting any gains associated with the drop in bonds payable." d : "you're right! this is good news because it means that abc's debtholders have a decreased claim on the firm's assets. as a result, the firm's existing shareholders"like you"have seen their claim on the firm's assets increase."
Answers: 2
image
Business, 22.06.2019 17:30, flax05
What is the sequence of events that could lead to trade surplus
Answers: 3
image
Business, 22.06.2019 18:50, saltytaetae
Suppose the government enacts a stimulus program composed of $600 billion of new government spending and $300 billion of tax cuts for an economy currently producing a gdp of $14 comma 000 billion. if all of the new spending occurs in the current year and the government expenditure multiplier is 1.5, the expenditure portion of the stimulus package will add nothing percentage points of extra growth to the economy. (round your response to two decimal places.)
Answers: 3
image
Business, 22.06.2019 22:10, jpimentel2021
What is private equity investing? who participates in it and why? how is palamon positioned in the industry? how does private equity investing compare with public market investing? what are the similarities and differences between the two? why is palamon interested in teamsystem? does it fit with palamon’s investment strategy? how much is 51% of teamsystem’s common equity worth? use both a discounted cash flow and a multiple-based valuation to justify your recommendation. what complexities do cross-border deals introduce? what are the specific risks of this deal? what should louis elson recommend to his partners? is it a go or not? if it is a go, what nonprice terms are important? if it’s not a go, what counterproposal would you make?
Answers: 1
Do you know the correct answer?
In the beginning of Year 3 Omega Company had a $52,000 balance in its accounts receivable account an...

Questions in other subjects:

Konu
Mathematics, 04.02.2021 09:00
Konu
Health, 04.02.2021 09:00
Konu
Mathematics, 04.02.2021 09:00
Konu
Mathematics, 04.02.2021 09:00