Last year, Hart Company had credit sales in the amount of $1,000,000, and it had uncollectible accounts in the amount of $15,000 . Based on last year, what would the estimated percent of uncollectible accounts be this year?
a. 0.15%; b. 1.5%; c. 15%; d. 150%; e. cannot be determined.
B
You might also like to view...
Comet Company prepares monthly income statements. A physical inventory is taken only at year-end; hence, month-end inventories must be estimated. All sales are made on account. The rate of markup on cost is 50 percent. The following information relates to the month of May: Accounts receivable, May 1 ............................ $20,000 Accounts receivable, May 31
30,000 Collection of accounts receivable during May .......... 50,000 Inventory, May 1 ...................................... 36,000 Purchases of inventory during May ..................... 32,000 The estimated cost of the May 31 inventory is a. $24,000. b. $28,000. c. $38,000. d. $44,000.
On Friday, Alexander left work 2 hours early and went to happy hour with friends. He did not tell anyone he was leaving and did not complete his work for the week. On Monday, Alexander was called into his boss’s office and given a reprimand. He will now have to check in with his boss when he arrives and when he leaves. What Alexander experienced is ______.
A. positive reinforcement B. punishment C. extinction D. negative reinforcement
Dan has a Web conference, so he ________ be late
a. could b. might
Which person argued that a corporate manager's primary responsibility is to the shareholders of the organization and that managers should make the company as profitable as possible while also complying with the law?
a. John Rawls b. John Stuart Mill c. Immanuel Kant d. Milton Friedman