Answer:
The net realizable value of Accounts Receivable = 1,985,538
Explanation:
The journal entry will be: Allowance for Uncollectible Accounts (Debit - Decreased) 6,000 and Accounts Receivable (Credit - Decreased) 6,000.
After the journal entry the credit balance in the Allowance for Uncollectible Accounts will be: 2,005,000 - 6000 = 1,999,000, and the debit balance in Allowance for Uncollectible Accounts will be: 19,462 - 6,000 = 13,462.
Then net realizable value of Accounts Receivable will be: 1,999,000 - 13,462 = 1,985,538.
Answer:
c) $110,000
Explanation:
The computation of the borrowing amount is shown below:
= Value of home × given percentage - current mortgage amount
= $200,000 × 80% - $50,000
= $160,000 - $50,000
= $110,000
For computing the accurate value, we have to deduct the current mortgage amount from the net value of home.
Since only 80% is related to the home value so we take only 80% and rest 20% would be ignored.
Answer:
The quantity variance = -900 unfavorable
Explanation:
Direct materials flexibel - budget variance:
standard
0.7 pounds $30 per pound
3,000 x 0.7 = 2,100 standard pounds
actual
2,400 pound $29 per pound
quantity variance:
30(2,100 - 2,400) = -900
