Beginning and Ending Accounts Receivable Balances Were $28,000 and $24,000,respectively

question 37

Multiple Choice

Beginning and ending Accounts Receivable balances were $28,000 and $24,000,respectively.If collections from clients during the period were $80,000,then total services rendered on account were apparently

• A) $76,000.
• B) $84,000.
• C) $104,000.
• D) $108,000.

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Definitions:

Numerators

Numerators, in finance and accounting, typically refer to the top numbers in fractions or ratios, often used in calculations to assess financial performance measures, such as earnings per share.

Weighted Average

A computation that considers the different levels of significance of the figures in a dataset.

Reconciliation

The process of ensuring two sets of records (usually the balances of two accounts) are in agreement, by identifying discrepancies and making necessary adjustments.

Consolidated Information

Financial information that combines the accounting records of a parent company and its subsidiaries into one set of financial statements, as if they were a single entity.