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andre [41]
2 years ago
10

On August 1, Hanes Co. determines that it cannot collect $150 from a customer. Hanes uses the direct write-off method. Hanes wil

l record the write-off of this account by debiting:
Business
1 answer:
Roman55 [17]2 years ago
4 0

Using the direct write-off method, Hanes will record the write-off of this account by <u>debiting</u> the Bad Debts Expense account.

<h3>What is the direct write-off method?</h3>

The direct write-off method is one of the methods for writing off uncollectible accounts.

With the direct write-off method, the bad debts expense account is <u>debited</u> while the accounts receivable are <u>credite</u>d.

Thus, using the direct write-off method, Hanes will record the write-off of this account by <u>debiting</u> the Bad Debts Expense account.

Learn more about the direct write-off method at brainly.com/question/25078131

#SPJ1

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A company allocates $7.50 overhead to each unit produced. the company uses a Plantwide overhead rate with direct labor hours as
Rufina [12.5K]

Answer: Option (A) is correct.

Explanation:

Given that,

overhead to each unit produced = $7.50

Department 1:

Manufacturing overhead costs  = $74,358

Direct labor hours (DLH) = 6,610

Machine hours = 700 MH

Department 2 :

Manufacturing overhead costs = $49,572

Machine hours = 800 MH

Total Overheads = Manufacturing overhead cost of department 1 + Manufacturing overhead cost of department 2

                            = $74,358 + $49,572

                            = $123,930

Total Direct Labor Hours:

= \frac{Total\ overhead}{per\ unit\ overhead}

= \frac{123,930}{7.50}

= 16,524

Direct Labor Hours for Department 2:

= Total Direct Labor Hours - Direct labor hours of department 1

= 16,524 - 6,610

= 9,914 DLH

3 0
3 years ago
A company has advance subscription sales totaling $45,000 for the upcoming year when four quarterly journals will mailed to cust
labwork [276]

Answer:

Journal  entry.

Debit creditors account with $15,000 and credit company's sales account with $15,000

Being quarterly journal subscription paid in advance last year.

Explanation:

The advance subscription payments customers are taken as creditors of the company. The company owes them the service of mailing the quarterly journals to them. The total creditors payment ($45,000) will be recorded as credit entry in the books of the company's creditors account and as the company discharges the liability, the amount is passed to debit side of the creditor's account. We assume equal quarterly subscription amount, which will result in $15,000 for each quarter in a year.

3 0
3 years ago
Most MNCs tend to start their operations in a particular region by selecting primarily from their own pool of managers. Over tim
Alekssandra [29.7K]

Answer: Because of increase in pressure from the local governments to employ locals and the increase in costs of expatriate staffing, especially when the firm has to pay taxes for the workers of the parent-company in both countries.

Explanation:

Most MNCs usually start their operations in a region by selecting primarily from their pool of managers. With the passage of time and increase in internationalization, multinational corporations move to a regiocentric or polycentric policy because of

• increasing pressure which could either be implicit or explicit from local governments to employ locals or legal restraints on using expatriates.

• the greater costs of staffing of expatriate especially when tax has to be paid for the parent-company workers in both countries.

4 0
3 years ago
Determine the monthly payment for a 36 month lease on a $26,000 car with a residual of 71% and an interest rate of 7. 5%. A. $10
lubasha [3.4K]

The lease fee is equal to the monthly rent, which is formally dictated underneath an agreement between two parties, granting one party the lawful liberty to utilize the other person's real estate belongings and other fixed assets, for a limited period.

The approximate monthly lease payment is $348. 38.

<h3>How to calculate the monthly payment?</h3>

Given,

  • Residual percentage = 71 %
  • Interest rate = 7.5 %
  • Lease amount for the car = $26,000
  • Number of months = 36

First calculate the residual value as:

Residual value = 71 % of the lease amount ($26,000)

\begin{aligned}&= 0.71 \times  26,000\\\\&= \$ 18,460\end{aligned}

Calculate the money factor as:

\begin{aligned}\rm Money\; factor &= \dfrac{7.5 }{2400}\\\\&= 0.003125\end{aligned}

  • <u>Step 1</u>: Calculate the monthly depreciation as:

\begin{aligned}\rm Monthly depreciation &= \dfrac{\text{Lease amount - residual amount }}{\text{Number of months}}\\\\&=\dfrac{ 26000 - 18460}{36}\\\\&= \$209.44\end{aligned}

  • <u>Step 2</u>: Calculate the monthly financial charge as:

\begin{aligned} \text{Monthly Financial Charge} &= (\text{Lease amount + Residual value}) \times  \text{Money factor}\\\\&= (26000 + 18460) \times 0.003125\\\\&= \$138.94 \end{aligned}

  • <u>Step 3</u>: Calculate the lease amount  as:

\begin{aligned}\text{Monthly Lease Amount} &= \text{Monthly Depreciation + Financial Charge}\\\\&= 209.44 + 138.94\\\\&= \$348.38\end{aligned}

Therefore, <u>option d.</u> $348. 38 is correct.

Learn more about the lease amount here:

brainly.com/question/25795577

3 0
2 years ago
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Imagine you are an entrepreneur who wants to build a mall where would you choose to locate the mall and why?
IrinaK [193]

Answer:

In a suburban area with lots of surrounding neighbourhoods

Explanation:

This is because in this area, you are likely to receive middle-upper class customers at the mall who you can ensure will be a great asset to the new mall. Additionally, in a busy area like this you can be certain the mall will always be full of people!

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3 years ago
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