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prohojiy [21]
3 years ago
8

The Allowance for Bad Debts account had a balance of $7,300 at the beginning of the year and $10,100 at the end of the year. Dur

ing the year (including the year-end adjustment), bad debts expense of $13,400 was recognized. Required: Calculate the total amount of past-due accounts receivable that were written off as uncollectible during the year. (Hint: Make a T-account for the Allowance for Bad Debts account, plug in the amounts that you know, and solve for the missing amount.)
Business
1 answer:
anygoal [31]3 years ago
6 0

Answer:

Allowance for Bad Debts  

Debit -   Credit  

$ 10,600 -    $ 7,300  

         -   $ 13,400  

$ 10,600 -    $ 20,700 = 10,100

Explanation:

Balance at the Begining    

Allowance for Bad Debts   $ 7,300

=========================================    

Bad debt expense  $ 13,400  

Allowance for Bad Debts   $ 13,400

=========================================

Allowance for Bad Debts  $ 10,600  

Accounts Receivable   $ 10,600

=========================================

Balance at the End    

Allowance for Bad Debts   $ 10,100

=========================================

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Simora [160]

Answer:

E) ceremonies

Explanation:

In an organization's culture, ceremonies are extremely important for what they represent, not necessarily for the monetary amount of a price. A ceremony is a formal event and in this case it occurs in front of almost all the employers of the retail chain. The employee that is awarded the prize is not only given money, he/she is also being recognized for being the employee of the year in front of everyone else.

5 0
3 years ago
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On January 1, 2018, Race Corp. acquired 80% of the voting common stock of Gallow Inc. During the year, Race sold to Gallow for $
andreyandreev [35.5K]

Answer:

Consolidated income: 954,800 dollars

Explanation:

Gallow income x race participation:

    $   204,000    x   80%   = $ 163,200

The gross profit in the infra-entity transaction will be eliminated

$ 450,000 - $ 330,000 = $ 120,000 gross profit

15% remains at Gallow so: $ 120,000 x 15% = $ 18,000 gross profit for the unsold inventory.

We now multiply by Race participation: $ 18,000 x 80% = $ 14,400 unrealized gain.

Consolidated income:

Race income:   806,000

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unrealized gain (14, 400)

Total:                954,800

3 0
3 years ago
What is the difference between the value of a​ firm's final product and the value added by the firm to the final​ product?
sweet [91]

Answer:

The value of a firm's final product is the selling price whereas value added refers to the addition of value to the raw material (intermediate products).

Explanation:

The term "value added" describes the enhancement a company gives to its product before offering it to the customer. It can be considered as an extra special feature added by a company to increase the value of a final product.

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3 years ago
A company is considering two designs for a machine in its manufacturing line. The first, called machine A, will cost $160000 in
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Answer:

The indifference point is 1,410 units

Explanation:

Giving the following information:

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Unitary variable cost= $80

Machine B:

Fixed costs= $270,000

Unitary variable cost= $2

<u>First, we need to structure the total cost formula for each machine:</u>

Machine A= 160,000 + 80x

Machine B= 270,000 + 2x

x= number of units

<u>Now, we equal both formulas and isolate x:</u>

160,000 + 80x = 270,000 + 2x

78x = 110,000

x= 110,000/78

x= 1,410 units

The indifference point is 1,410 units

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You hurt your back at work by falling of a ladder and are out of work for a month
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Uh, of course I'm not at work! I brutally broke my back. Ouch.

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