accounts receivable. at year-end, the l. cole company has completed services of $21,500 for a client, but the client has not yet been billed for those services. interest receivable. at year-end, the company has earned, but not yet recorded, $490 of interest earned from its investments in government bonds. accounts receivable. a painting company bills customers when jobs are complete. the work for one job is now complete. the customer has not yet been billed for the $1,500 of work. Determine what current balance equals.

Answers

Answer 1

If the accounts receivable of the  l. Cole company is $21,500 and $1,500, while the interest receivable is $490, its current balance is $23,490.

Accounts receivable is a current asset on a company's balance sheet that represents the amount of money owed to the company by its customers for goods or services that have been sold but not yet paid for.

The current balance would equal the sum of the three items listed in the question, since they all represent amounts that the company has earned but not yet received:

Current balance = $21,500 (accounts receivable for services completed but not yet billed) + $490 (interest receivable on government bonds) + $1,500 (accounts receivable for completed painting job not yet billed)

Current balance = $23,490

Learn more about account receivable here:

https://brainly.com/question/24871345

#SPJ11


Related Questions

Esquire Comic Book Company had income before tax of $1,750,000 in 2021 before considering the following material items: 1. Esquire sold one of its operating divisions, which qualified as a separate component according to generally accepted accounting principles. The before-tax loss on disposal was $415,000. The division generated before-tax Income from operations from the beginning of the year through disposal of $650,000. 2. The company incurred restructuring costs of $80,000 during the year. Required: Prepare a 2021 income statement for Esquire beginning with income from continuing operations. Assume an income tax rate of 25%. Ignore EPS disclosures. (Amounts to be deducted should be Indicated with a minus sign.) ESQUIRE COMIC BOOK COMPANY Partial Income Statement For the Year Ended December 31, 2021
Income from continuing operations Discontinued operations: Income from operations of discontinued component 199,000 Income tax expense (49,750)
Income (loss) on discontinued operations 149,250 Net income (loss)

Answers

From the information that can be retrieved, the income statement shows the net income (loss) is $ 1,284,250.

Prepare a 2021 income statement for Esquire beginning with income from continuing operations. Assume an income tax rate of 25%. Ignore EPS disclosures. (Amounts to be deducted should be Indicated with a minus sign.)

Esquire Comic Book Company Partial Income Statement For the Year Ended December 31, 2021

Income from continuing operations: $1,135,000

Discontinued operations:

Income from operations of discontinued component $199,000Income tax expense $(49,750)Income (loss) on discontinued operations $149,250Net income (loss) $1,284,250

Learn more about Income Statement: brainly.com/question/15169974

#SPJ11

The Kingston County Basketball Conference (KCBC) is an amateur basketball association. Each city in the county has one team that represents it. Each team has a maximum of twelve players and a minimum of nine players. Each team also has up to three coaches (offensive, defensive, and PT coaches.) Each team plays two games (home and visitor) against each of the other teams during the season.
a. Draw the ER diagram.
b. Create a relational model based on the ER diagram.

Answers

A relational model is a way of representing data in a database using tables with rows and columns.

The ER diagram for the Kingston County Basketball Conference (KCBC) can be used to create a relational model. The model would have one table for each of the teams, with columns for the team name, the players, the three coaches, and the two games played (home and visitor). It would also have a table for each game, with columns for the team name, the players, the coaches, and the city of the game.

This model would allow for efficient retrieval of data related to KCBC teams, players, coaches, and games. It also allows for easy updating of data such as players and coaches, and for the tracking of game outcomes. By using a relational model, the KCBC can easily track and manage their data.

Know more  about ER diagram here:-

https://brainly.com/question/30710118#

#SPJ11

Coca-Cola launched 500 drinks around the world, some of which are truly unique. The Indian Coke subsidiary launched a chunky mango juice. This is an example of a ________ strategy.
A. national
B. downstream
C. multidomestic
D. upstream

Answers

Coca-Cola launched 500 drinks around the world, some of which are truly unique. The Indian Coke subsidiary launched a chunky mango juice. This is an example of a multi-domestic strategy.

What is a Multi-domestic strategy?

A multi-domestic strategy is a decentralized approach that is used by a multinational corporation to expand into local markets. It encourages the company to modify products and operations to meet the specific demands of the local market. This technique is often used by multinationals to increase their global presence while still being mindful of regional sensitivities, which may necessitate changes to their strategy.

Coca-Cola is a multinational corporation that uses a multi-domestic strategy. It is important to note that this is not the same as Coca-Cola's upstream and downstream strategies. The upstream strategy relates to Coca-Cola's procurement of raw materials, while the downstream strategy relates to the delivery of finished products to retailers and end-users.

learn more about Multi-domestic strategy here:

https://brainly.com/question/30002417

#SPJ11

6. Examples of price discrimination Complete the following table by indicating whether or not each scenario is an example of price discrimination. Hint: To determine whether a scenario is an example of price discrimination, think about whether the market can be segmented into two groups that pay different prices for the same good. Price Discrimination Scenario Yes No A local boutique is having a sale on sweaters, but customers are not aware of the sale until they are already in the store. In other words, there is no advertising of the sale other than signs in the back of the store that cannot be seen from the outside. All sweaters are marked as 25% off. Southeast Airlines offers domestic flights to a variety of U.S. cities. The company's last-minute flight discount service, Ping, can be downloaded for free from its website. Each day, Ping will alert users to that day's deals. These deals are available for a short period of time and are good for travel only between certain locations during specified travel periods. Therefore, business travelers tend not to take advantage of these offers.

Answers

Yes, the local boutique is an example of price discrimination, as customers have to enter the store in order to take advantage of the sale. No, Southeast Airlines is not an example of price discrimination, as it offers discounts to everyone who downloads its app and meets the specified criteria for travel.

What is Price Discrimination?
Price discrimination is a technique used by businesses to sell the same product to different buyers at different prices. This strategy is used to increase revenue by extracting the maximum price that each buyer is willing to pay for the product. In order to determine whether a scenario is an example of price discrimination, one must think about whether the market can be segmented into two groups that pay different prices for the same good.

Price discrimination occurs when a company can segment the market into two groups and charge different prices for the same good.

learn more about Price Discrimination here:

https://brainly.com/question/23342760

#SPJ11

during thegrowth stage of the product life cycle, sales begin to rise, as do profits, as companies begin to take advantag e of economies of scale in purchasing, manufacturing, and distribution. (true or false)

Answers

It is true that during the growth stage of the product life cycle, sales begin to rise as companies begin to take advantage of economies of scale in purchasing, manufacturing, and distribution because they want to expand their distribution channels and consider new markets to maximize sales and profits.

What is the product life cycle?

The product life cycle is a marketing concept that explains the stages a new product goes through during its time on the market. These four stages are: introduction, growth, maturity, and decline.

During the growth stage of the product life cycle, sales and profits begin to rise as a result of a variety of factors. Companies may begin to take advantage of economies of scale in purchasing, manufacturing, and distribution. Economies of scale are a cost-saving concept in which the cost of producing or providing a product or service decreases as the volume of production or output rises.

During the growth stage of the product life cycle, sales increase as the product becomes more well-known, sales channels expand, and consumer demand grows. This stage is characterized by an increase in advertising and promotion expenditures to encourage more people to purchase the product. During the growth stage, companies may also expand their distribution channels and consider new markets to maximize sales and profits.

Learn more about product life cycle here: https://brainly.com/question/14567370

#SPJ11

Chang, the founder of a multinational corporation, believes that his business should mainly focus on the benefit of those people who own its stock. In this scenario, he most likely follows _______, a model of business management.
a. Stakeholders model
b. Shareholders primacy
c. Customer value

Answers

Option B). The model of business management that Chang is most likely following if he believes that his business should mainly focus on the benefit of those people who own its stock is "Shareholder primacy."

What is Shareholder Primacy?b The shareholder primacy model of business management is a management model that emphasizes the interests of shareholders over the interests of other stakeholders, such as employees, customers, and the general public, who are seen as secondary. The goal of a company following this model is to maximize shareholder wealth, which is accomplished by maximizing profits, increasing share prices, and paying dividends to shareholders. Why Shareholder Primacy is important? Shareholder primacy can be beneficial in some circumstances, such as when shareholders are actively involved in the business and have a long-term perspective. However, it can be detrimental in other circumstances, such as when shareholders prioritize short-term profits over long-term growth or when they engage in unethical or illegal activities to boost share prices. Therefore, the shareholder primacy model of business management has been the subject of debate in recent years, with some arguing that it needs to be revised to better balance the interests of all stakeholders.

For more such questions on Shareholders

https://brainly.com/question/28452798

#SPJ11


Chang's belief that his business should mainly focus on the benefit of those people who own its stock suggests he follows the Shareholders Primacy model of business management.

This model assumes that the primary purpose of a business is to increase shareholder wealth, and all decisions should be based on this goal. This model encourages businesses to maximize profits, often by cutting costs and increasing efficiency, while maintaining a focus on long-term growth and sustainability.

It also encourages businesses to have a more disciplined approach to capital allocation, using resources in a way that will generate the greatest return for shareholders.

This model seeks to ensure that the interests of shareholders are maintained and that their investments are managed in their best interests. As such, it typically involves strategies and tactics that focus on profit maximization, cost cutting, and increasing shareholder value.

Know more about Shareholders here

https://brainly.com/question/19162424#

#SPJ11

Net Income and OCF [LO2] During 2009, Raines Umbrella Corp. Had sales of $730,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $580,000, $105,000, and $135,000, respectively. In addition, the company had an interest expense of $75,000 and a tax rate of 35 percent. (Ignore any tax loss carryback or carryforward provisions. ) a. What is Raines's net income for 2009? b. What is its operating cash flow? c. Explain your results in (a) and (b)

Answers

Raines Umbrella Corp.'s net income for 2009 was $107,250 and Raines Umbrella Corp.'s operating cash flow for 2009 was $242,250

a. To find the net income, we need to start with the company's revenue and subtract all expenses, including interest expense and taxes:

Revenue = $730,000

Cost of goods sold = $580,000

Administrative and selling expenses = $105,000

Depreciation expenses = $135,000

Interest expense = $75,000

Earnings before taxes (EBT) = Revenue - Cost of goods sold - Administrative and selling expenses - Depreciation expenses - Interest expense

EBT = $730,000 - $580,000 - $105,000 - $135,000 - $75,000

EBT = $(165,000)

Taxes = EBT * Tax rate

Taxes = $(165,000) * 35%

Taxes = $57,750

Net income = EBT - Taxes

Net income = $(165,000) - $57,750

Net income = $107,250

Therefore, Raines Umbrella Corp.'s net income for 2009 was $107,250.

b. To find the operating cash flow (OCF), we need to start with the company's net income and add back non-cash expenses like depreciation:

Net income = $107,250

Depreciation expenses = $135,000

OCF = Net income + Depreciation expenses

OCF = $107,250 + $135,000

OCF = $242,250

Therefore, Raines Umbrella Corp.'s operating cash flow for 2009 was $242,250.

c. Raines Umbrella Corp. had a net income of $107,250 for 2009, meaning that after all expenses and taxes were paid, the company had a profit of $107,250. This is a measure of the company's financial performance over the years.

Learn more about Raines Umbrella Corp. here:https://brainly.com/question/2551046

#SPJ4

Other Questions
6. Examples of price discrimination Complete the following table by indicating whether or not each scenario is an example of price discrimination. Hint: To determine whether a scenario is an example of price discrimination, think about whether the market can be segmented into two groups that pay different prices for the same good. Price Discrimination Scenario Yes No A local boutique is having a sale on sweaters, but customers are not aware of the sale until they are already in the store. In other words, there is no advertising of the sale other than signs in the back of the store that cannot be seen from the outside. All sweaters are marked as 25% off. Southeast Airlines offers domestic flights to a variety of U.S. cities. The company's last-minute flight discount service, Ping, can be downloaded for free from its website. Each day, Ping will alert users to that day's deals. These deals are available for a short period of time and are good for travel only between certain locations during specified travel periods. Therefore, business travelers tend not to take advantage of these offers. A hawk flying at 19 m/s at an altitude of 228 m accidentally drops its prey. The parabolic trajectory of the falling prey is described by the equation y = 228 x^2/57 until it hits the ground, where y is its height above the ground and x is its horizontal distance traveled in meters. Calculate the distance traveled by the prey from the time it is dropped until the time it hits the ground. Express your answer correct to the nearest tenth of a meter. Coca-Cola launched 500 drinks around the world, some of which are truly unique. The Indian Coke subsidiary launched a chunky mango juice. This is an example of a ________ strategy.A. nationalB. downstreamC. multidomesticD. upstream as noted in this chapter, plants help to reduce water runoff and soil erosion, both of which affect the health of streams and rivers by impacting water quality. soil erosion increases the silt load in water and this literally smothers living organisms, particularly plants and invertebrate species. runoff water can carry pollutants, particularly pesticides and herbicides from agricultural land. read the description of each landscape and rank them from best stream quality to worst stream quality. 1: streams cutting through small farms with several different crop types and natural vegetation buffers between the fields and the streams. 2: a large floodplain area covered with lowland forests and swamps full of emergent vegetation, with small streams cutting through the area. 3: an urban housing development where the trees growing along the streams were removed and replaced with lawns. 4: a system of large farms with no buffer vegetation between the fields and the streams that cut through the farms. question list (4 items) (drag and drop into the appropriate area) landscape 1 landscape 2 landscape 3 landscape 4 correct answer list best stream quality HELP PLS combine the like terms 3x+5-x+3+4x Which of the following terms is just the collection of networks that can be joined together?A virtual private networkB LANC intranetD extranetE internet In the astonishing hypothesis (1994, p. 49) sir francis crick noted, "when one neuron tells another neuron is simply how much it is excited. " using terms from the chapter, compare the neural communication when we are a) tapped gently on the arm, and b) slapped across the face which of these places in latin america has a high minority indian (from india) population? argentina trinidad Which statement is true about disruptive natural selection?ResponsesIt results in an averaging of traits.It results in an averaging of traits.It favors one trait over all others.It favors one trait over all others.It results in an even distribution of traits.It results in an even distribution of traits.It favors extremes in traits. In the illustration, which solute will dissolve first? A) solute in tank B will dissolve first B) solute in tanks A and B will dissolve at equal rates C) solute in tank A will dissolve first listen to the audio clip. what is the musical texture of this excerpt from handel's hallelujah chorus? A dragster is travelling east when the parachute opens and slows the dragster for 4.5 seconds at a rate of 10 m/s2 west. What was the dragster's change in velocity due to the parachute? A bus engine transfers chemical potential energy into ___ so that the bus moves.a. kinetic energyb. thermal energyc. gravitational potential energyd. electrical energy You and your family are trying to go on vacation, but everything is going wrong. Use the elements provided, the preterite tense, and constructions with se to write sentences.(a pap) / perder / las llaves del auto(a mis hermanos ) / olvidar / ponerse las inyecciones(a ti) / caer / los papeles del mdico(a Marcos) / romper / su disco compacto favorito(a mi) / daar / la cmara durante el viaje parabola a and parabola b both have the x-axis as the directrix. parabola a has its focus at (3,2) and parabola b has its focus at (5,4). select all true statements.a. parabola A is wider than parabola Bb. parabola B is wider than parabola Ac. the parabolas have the same line of symmetryd. the line of symmetry of parabola A is to the right of that of parabola Be. the line of symmetry of parabola B is to the right of that of parabola A create equivalent ratios by completing a ratio table for each. 1. 7 to 5 ( using multiplication), 2. 50:20 ( using division), 3. 3/4 (using multiplication), 4. 18:48 ( using division)ASAP What structural changes must an organization undertake to switch from a product to a customer orientation? Should companies start investing in such structural changes the poor state of facilities in your school is causing the student great concern as the senior prefect write a letter to the chairman of the board of the government highlighting the problems and requesting him to come to the aid of the school A research team has genetically engineered a strain of fruit flies to eliminate errors during DNA replication. The team claims that this will eliminate genetic variation in the engineered flies. A second research team claims that eliminating errors during DNA replication will not entirely eliminate genetic variation in the engineered flies(a)Provide ONE piece of evidence that would indicate new genetic variation has occurred in the engineered flies. what land extends from central mexico to costa rica?