Answer:
- 1-a. Complete the Accounts Receivable and Allowance for Doubtful Accounts T-accounts to determine the balance sheet values. Disregard income tax considerations.
Accounts Rec T-Account
$ 306.673 Debit
$ 290.750 Credit
$ 7.059 Credit
$ 8.864 Debit Balance
Allowance for Doubtful Accounts T-Account
$ 7.059 Debit
$ 4.775 Credit
$ 2.284 Debit Balance
- 1-b. Complete the amounts related to Accounts Receivable and Bad Debt Expense that would be reported on the income statement for the current year.
$ 4.775 Dr Bad Debt Expense
- 1-c. Complete the amounts related to Accounts Receivable and Bad Debt Expense that would be reported on the balance sheet for the current year.
$ 2.284 Dr (Debit) Allowance for Uncollectible Accounts
$ 8.864 Dr (Debit) Accounts Receivable
Explanation:
Dr Accounts Receivable $ 306.673
Cash $ 290.750
Cr Accounts Receivable $ 290.750
Dr Allowance for Uncollectible Accounts $ 7.059
Cr Accounts Receivable $ 7.059
- Bad debt expense adjustment
Dr Bad Debt Expense $ 4.775
Cr Allowance for Uncollectible Accounts $ 4.775
- 1-b. Complete the amounts related to Accounts Receivable and
Bad Debt Expense that would be reported on the INCOME STATEMENT for the current year
Dr Bad Debt Expense $ 4.775
- 1-c. Complete the amounts related to Accounts Receivable and
Bad Debt Expense that would be reported on the BALANCE SHEET for the current year.
Dr Allowance for Uncollectible Accounts $ 2.284
Dr Accounts Receivable $ 8.864
Answer:
correct option is (A) 16,500 units.
Explanation:
given data
shirts sold = $7.50
variable cost = $2.25
after tax net income = $5,040
selling price =$10
solution
we get here first fixed cost that is
Break even sales units = Fixed costs ÷ Contribution per unit .............1
put here value
20000 =
Fixed costs = $105000
and
Fixed costs coming year will be
Fixed costs coming year = ($105000 × 1.10)
Fixed costs coming year = $115500
and
Variable cost = $2.25 + ($2.25 × )
Variable cost = $3
so that Contribution margin will be
Contribution margin = Sales price - Variable cost ............2
Contribution margin = $10 - $3
Contribution margin = $7
and
break even sales units is
break even sales =
break even sales = 16500 units
so correct option is (A) 16,500 units.
Answer:Equity multiplier=1.6
Explanation:
Debt equity ratio is given as debt/equity , Therefore
Debt = Debt equity ratio X Equity
=0.60 x $486,000
= $291,600
The Total assets given as Liability(debt+equity) will now be
=$291,600+$486,000
=$777,600.
Therefore Equity multiplier, Total assets/Total equity
=(777,600/486,000)=1.6
Answer:
$800,000 per year
Explanation:
The intangibles assets with indefinite period are tested every year for the impairment and patent is a limited life intangibles.
Therefore,
The amount of amortization of patent at the end of first year:
= Patent value ÷ Useful life
= $4 million ÷ 5 years
= $800,000 per year
Hence, the company should amortize $800,000 per year.
Answer:
<u>distinguish one place from another.</u>
Explanation:
Globalization corresponds to a process of economic, political, cultural and social integration between different countries, which was motivated by the advance of new technologies, which boosted communication and transportation between different countries.
Globalization has a significant impact on the world, it affects communication, the movement of goods and resources, international trade and other variables.
Therefore, it is important that in a company that wants to expand in the world market to have an organizational culture focused on a world view of management, prioritizing the internal and external environment that differs according to the country in which the business activities are implemented. It is necessary for managers to have an ethical view of doing global business, where there is respect for different cultures and a positive organizational climate.
It is also important to segment the local market, taking advantage of all the small opportunities that a new market can offer, such as reducing costs and maximizing profits, government incentives and hiring experienced employees in the local market.