FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 39 2 points During 2014 Sedgewick Inc. had sales on account of $264,000, cash sales of $108,000, and collections on accou $165,000. In addition,

image text in transcribed
Question 39 2 points During 2014 Sedgewick Inc. had sales on account of $264,000, cash sales of $108,000, and collections on accou $165,000. In addition, they collected $2,900 which had been written off as uncollectible in 2013. As a result of th transactions the change in the accounts receivable balance indicates a $99,000 increase. $201,100 increase. $ 96,000 increase $207,000 increase

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

External Auditing Tutorial

External Auditing Tutorial

Authors: Jo Osborne, John Taylor

1st Edition

9781909173965, 1909173967

More Books

Students also viewed these Accounting questions

Question

★★★★★
Raggio, Inc., has 145,000 shares of stock outstanding. Each share is worth $75, so the company's market value of equity is $10,875,000. Suppose the firm issues 30,000 new shares at the following...

Answered: 1 week ago

Question

★★★★★
Which of the following statements is/are true? 1.. LLCs offer limited liability protection to members. 2.. S corporations offer limited liability protection to owners. a. 1 only. b. 2 only. c. Both 1...

Answered: 1 week ago

Question

★★★★★
Water is heated by submerging 50-mm diameter, thin-walled copper tubes in a tank and passing hot combustion gases (Tg = 750 K) through the tubes. To enhance heat transfer to the water, four straight...

Answered: 1 week ago

Question

★★★★★
Question 39 2 points During 2014 Sedgewick Inc. had sales on account of $264,000, cash sales of $108,000, and collections on accou $165,000. In addition, they collected $2,900 which had been written...

Answered: 1 week ago

Question

★★★★★
The outstanding capital stock of Edna Millay Corporation consists of 2,200 shares of $103 par value, 6% preferred, and 5,800 shares of $60 par value common. Assuming that the company has retained...

Answered: 1 week ago

Question

★★★★★
The new intern is trying to understand the dividend policy of your firm. Having studied dividend policies at university, the intern wonders why the firm chose its dividend policy. The intern also...

Answered: 1 week ago

Question

★★★★★
Question 10 Cathay Pacific Mistake: Their online booking site listed $16,000 fares at $675 accidentally, The most obvious type of cost that would result from this mistake would be: nothing, it was...

Answered: 1 week ago

Question

★★★★★
According to a recent poll, 28% of adults in a certain area have high levels of cholesterol. They report that such elevated levels "could be financially devastating to the regions healthcare system"...

Answered: 1 week ago

Question

★★★★★
A system administrator at a software development company is working on integrating package monitoring into the organization's vulnerability management strategy. The administrator aims to track...

Answered: 1 week ago

Question

★★★★★
A B PPF-1 PPF-2 Capital goods 1. The diagram above shows two PPF curves. Answer the following questions. (20 points) a. Which of the two points on the PPF-1 will allow this economy to grow more...

Answered: 1 week ago

Question

★★★★★
6. Have you used solid reasoning in your argument?

Answered: 1 week ago

Question

★★★★★
8. Have you checked (and rechecked) your speech for logical fallacies? Have you addressed and removed any that youve identified?

Answered: 1 week ago

Question

★★★★★
3. Have you assessed your audiences disposition and needs? Have you considered what is most relevant to them?

Answered: 1 week ago

Previous Question Next Question