Miller Company reported the following information in its 2017 financial statements ($ in millions):

2017 2016
Balance Sheet:
Accounts receivable, net $1,947.4 $1,574.6
Income statement:
Sales revenue $18,276.6

A note disclosed that the allowance for uncollectible accounts had a balance of $27.4 million and $27.7 million at the end of 2017 and 2016, respectively. Bad debt expense for 2017 was $18.0 million.

Required:
Determine the amount of cash collected from customers during 2017.

The cash the Miller Company collected from customers in 2017 is determined to be $17,885.8 million.

Data and Calculations:

 Balance Sheet:                                          2017           2016

                                                                 million         million

Accounts receivable, net                     $ 1,947.4    $ 1,574.6

Allowance for Uncollectible Accounts     $27.4         $27.7

Accounts receivable, gross               $1,974.8   $1,602.3

Bad Debts Expense for 2017 = $18.0 million

Income statement:

Sales revenue $ 18,276.6

T-Accounts:

Accounts Receivable

Account Title                      Debit         Credit

Beginning balance      $1,602.3

Sales revenue             18,276.6

Allowance for Uncollectible               $18.3

Cash                                               17,885.8

Ending balance                             $1,974.8

Totals                       $19,878.9 $19,878.9

Allowance for Uncollectible Accounts

Account Title                Debit         Credit

Beginning balance                        $27.7

Accounts receivable  $18.3

Bad debts expense                       $18.0

Ending balance          $27.4

Totals                         $45.7         $45.7

Thus, the Miller Company collected cash worth $17,885.8 million from its customers in 2017.

Learn more: https://brainly.com/question/15966323

Financial Calculations

Let's go through a series of calculations for Frank's cookie business.

First, let's determine how much Gross Profit he makes on each batch of cookies.

One batch is 24 cookies.

Frank starts by selling cookies for $1 each.

It costs Frank $10 in materials to make one batch of cookies (sugar, butter, chocolate chips, packaging, etc.)

What is the gross profit per batch of cookies?
​

You are considering buying stock A. If the economy grows rapidly, you may earn 35 percent on the investment, while a declining economy could result in a 10 percent loss. Slow economic growth may generate a return of 3 percent. If the probability is 14 percent for rapid growth, 17 percent for a declining economy, and 69 percent for slow growth, what is the expected return on this investment

Activity-based costing for varying batch production
A manufacturing company has the following two activities associated with completion of products:
The setting up of machines for running batches of products
The actual production of units produced
The company has annual manufacturing overhead costs of $2,000,000, of which $200,000 is directly involved in setting up machines for batch runs. During the year, the company expects to perform 400 machine setups, one setup per batch for a total of 400 batches of production. Assume that the batch sizes vary considerably, but the work involved in setting up the machines is not appreciably different from one job to the next.
If the company estimates that the $200,000 costs associated with setups will yield 400 setups this year, the cost associated directly with each setup will be $ per setup. Because each job will require its own setup, setup costs are viewed as batch costs. Because $200,000 of the $2,000,000 are costs associated with setups, this means that costs associated directly with the production of units equal $.

At Dec. 31 Gill Co. reported accounts receivable of $238,000 and an allowance for uncollectible accounts of $600 (debit) before any adjustments. An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 3% of accounts receivable. The amount of the adjustment for uncollectible accounts would be:

Which financing is also known as “risk capital”?
A.
mezzanine loans
B.
subordinate debts
C.
equity capital
D.
senior debts
E.
bonds

The City of Holbrook transferred $100,000 from the General Fund to the Debt Service Fund for payment of interest. The appropriate entry in the General Fund to record this transfer would be
a. Debit Expenditures $100,000; Credit Cash $100,000.
b. Debit Other Financing Uses Transfer Out $100,000; Credit Cash $100,000.
c. Debit Fund Balance Transfer Out $100,000; Credit Cash $100,000.
d. Debit Other Financing Sources Transfer In $100,000; Credit Cash $100,000.

How to calculate opening capital

Which part of the Business Cycle would this graph represent?

give the advantages of business partnership structures​

Why is competition limited in an oligopoly

Fixed-income recipients, savers, and creditors are hurt by unanticipated inflation because inflation ______. Multiple choice question. redistributes real income away from them and toward others reduces the burden of debt is indexed redistributes real income towards them and away from others

The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Debits Credits Accounts payable $ 100,000 Accounts receivable $ 25,000 Accrued interest payable 28,000 Accumulated depreciation 45,000 Administrative and selling expenses 47,000 Allowance for uncollectible accounts 12,000 Capital assets 705,000 Cash 90,000 Charges for sales and services 550,000 Cost of sales and services 492,000 Depreciation expense 45,000 Due from General Fund 17,000 Interest expense 40,000 Interest revenue 4,000 Transfer in from General Fund 115,000 Bank note payable 625,000 Supplies inventory 18,000 Totals $ 1,479,000 $ 1,479,000 Required: a. Prepare the closing entries for December 31. b. Prepare the Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31. c. Prepare the Net Position section of the December 31 balance sheet. (Assume that the revenue bonds were issued to acquire capital assets and there are no restricted assets.)

Để hành nghề, thẩm định viên bắt buộc phải có những năng lực tối thiểu về

Zang Company had no office supplies on hand at the beginning of the year. During the year, the company purchased $250 worth of office supplies. At the end of the year, $50 worth of office supplies were on hand. How much should Zang Company report as office supplies expense for the year

What was California’s GDP in 2010 in millions?

$5,840.7

$5,810.2

$5,814.4

$5,339.8

$4,050.9

Which of the following is an advantage of conducting business in totalitarian nations

Which of the following is not a characteristic of a cafeteria?

A tray is used to collect chosen dishes.
Customers tell servers what they want.
Food is displayed along the serving line.
Amounts are usually "all you care to eat" with no limits.

Buzz's Educational Software Outlet sells two or more of the video games as a single package. Managers are keenly interested in individual productprofitability figures. Information pertaining to three bundled products and the standalone prices is as​ follows:
StandAlone Selling Price Cost Package Packaged Price Reading Fun 1. Reading Fun​ & Math Fun Math Fun 2. Reading Fun​ & Analysis Analysis 3. All three
Using the standalone method with selling price as the weight for revenue​ allocation, what amount of revenue will be allocated to Reading Fun in the first package​ (Reading Fun​ & Math​ Fun)?
A. $20.89
B. $37.00
C. $28.62
D. $35.69

Rebecca Huang receives a regular salary of $2,600 a month and is paid 1/2 times the regular hourly rate for hours worked in excess of 40 per week.
a. Calculate Huang's overtime rate of pay.
22.5 overtime pay per hour
s
b. Calculate Huang's total gross weekly pay if she works 43 hours during the week.

what role do manager's play In the cooperative​

Convert 5/8 to Decimal

Knowledge Check 01 Zeta Corporation is a manufacturer of sports caps, which require soft fabric. The standards for each cap allow 2.00 yards of soft fabric, at a cost of $2.00 per yard. During the month of January, the company purchased and used 25,000 yards of soft fabric at $2.10 per yard, to produce 12,000 caps. What is Zeta Corporation's materials price variance for the month of January

The owner of Genuine Subs, Inc., hopes to expand the present operation by adding one new outlet. She has studied three locations. Each would have the same labor and materials costs (food, serving containers, napkins, etc.) of $1.80 per sandwich. Sandwiches sell for $2.50 each in all locations. Rent and equipment costs would be $5,040 per month for location A, $5,560 per month for location B, and $5,730 per month for location C.

Required:
a. Determine the volume necessary at each location to realize a monthly profit of $10,500.
b. If expected sales at A, B, and C are 20,800 per month, 22,000 per month, and 22,800 per month, respectively, calculate the profit of each location.
c. Which location would yield the greatest profits?

All of the following indicate a possible pest infestation EXCEPT:
Dust underneath a storage shelf
Shredded paper towels in a corner of the dry storage area
Egg casings behind the refrigerator
Gnaw marks on a trash can

state the law of demand and explain its assumptions​

Managerial accounting is different from financial accounting in that:

a. Managerial accounting is more focused on the organization as a whole, while financial accounting is more focused on projects, processes, and divisions of the organization.
b. Managerial accounting never includes nonmonetary information.
c. Managerial accounting includes many projections and estimates whereas financial accounting has a minimum of predictions.
d. Managerial accounting is used extensively by investors, whereas financial accounting is used only by creditors.
e. Managerial accounting is structured and controlled by GAAP.

Lucas is the secretary of defense for the united states. He oversees military operations throughout the world. Lucas's position is part of the _ _ _ _ _ government
national
state
local
foreign

Leeuwin Brokerage enters into a lease agreement with Bumble Motors to lease an automobile with a fair value of $77,000 under a 5-year lease on December 20, 2018. The lease commences on January 1, 2019, and Leeuwin will return the automobile to Bumble on December 31, 2023. The automobile has an estimated useful life of 7 years. Leeuwin made a lease payment of $10,900 on December 20, 2018. In addition, the lease agreement stipulates annual payments of $10,900, due on January 1 of 2019, 2020, 2021, 2022, and 2023. The implicit rate of the lease is 6% and is known by Leeuwin. There is no purchase option, no lease incentives, no residual value guarantees, and no transfer of ownership. Leewin incurs initial direct costs of $1,100

Requried:
Assuming that this is classified as an operating lease, what is the amount of the lease liability on January 1, 2019 before the lease payment?

Business plan are also called ROAD MAPS; it’s possible to travel without one, but it will only increase the likelihood of getting lost along the way. Explain to correct answer.
​

Justin is a new manager with 27 direct reports. He has been feeling overwhelmed at work and just learned that the last three managers who held his position quit after only a few months. Which process theory appears to have been violated in this organization?


Expectancy Theory
Goal Setting Theory
Job Characteristic Theory
All of These