subject
Business, 02.12.2019 19:31 rosetoheart2

During year 1, ramona department store had total sales of $1,500,000, of which 80% were on credit. the beginning balance in accounts receivable (on january 1 of year 1) was $82,500. the beginning balance in the allowance for bad debts (on january 1 of year 1) was $10,000. the amount of accounts written off as uncollectible during the year was $13,500. the following aging of accounts receivable is for ramona company at the end of year 1. aging of accounts receivable december 31 of year 1 total less than 30 days 31 days to 60 days 61 days to 90 days over 90 days $246,000 $183,000 $36,000 $12,000 $15,000 ramona company has developed the following bad debt information from its own past experience. age of account percent ultimately uncollectible less than 30 days 2 31 to 60 days 12 61 to 90 days 35 over 90 days 90. how much cash was collected from credit customers during the year?

ansver
Answers: 3

Other questions on the subject: Business

image
Business, 22.06.2019 10:30, karnun1201
Perez, inc., applies the equity method for its 25 percent investment in senior, inc. during 2018, perez sold goods with a 40 percent gross profit to senior, which sold all of these goods in 2018. how should perez report the effect of the intra-entity sale on its 2018 income statement?
Answers: 2
image
Business, 22.06.2019 11:40, antbanks3050
Jamie is saving for a trip to europe. she has an existing savings account that earns 3 percent annual interest and has a current balance of $4,200. jamie doesn’t want to use her current savings for vacation, so she decides to borrow the $1,600 she needs for travel expenses. she will repay the loan in exactly one year. the annual interest rate is 6 percent. a. if jamie were to withdraw the $1,600 from her savings account to finance the trip, how much interest would she forgo? .b. if jamie borrows the $1,600 how much will she pay in interest? c. how much does the trip cost her if she borrows rather than dip into her savings?
Answers: 1
image
Business, 22.06.2019 13:20, kaylarenee05080
In order to be thoughtful about the implementation of security policies and controls, leaders must balance the need to reduce with the impact to the business operations. doing so could mean phasing security controls in over time or be as simple as aligning security implementation with the business’s training events.
Answers: 3
image
Business, 22.06.2019 17:30, levicorey846
Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u. s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.
Answers: 3
You know the right answer?
During year 1, ramona department store had total sales of $1,500,000, of which 80% were on credit. t...

Questions in other subjects:

Konu
Physics, 13.01.2021 19:20
Konu
Mathematics, 13.01.2021 19:20
Konu
History, 13.01.2021 19:20
Konu
Geography, 13.01.2021 19:20