Answer:
Estimated Allowance for Uncollectible Accounts $ 17950.
Explanation:
Pearl E. White Orthodontist
Schedule of Accounts Receivable by Age
December 31, 2021
Age Group Amount Estimated Uncollectible
Receivable Percent
Not yet due $ 40,000 4% 1600
0-90 days past due 16,000 20% 3200
91-180 days past due 11,000 25% 2750
More than 180 days past due 13,000 80% 10400
Total $ 80,000 17950
Estimated Allowance for Uncollectible Accounts $ 17950.
The above schedule shows the accounts receivable assigned to one of the four classes based on its days past due . The amounts of each class are multiplied by the estimated percent of the uncollectibles accounts. The total amount in the Uncollectible is the estimated balance for the Allowance for Uncollectible Accounts $ 17950.
Answer:
$84
Explanation:
The computation of each unit of the company's inventory under absorption costing is shown below:
= Direct material used + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead
= $12 + $18 + $25 + $29
= $84
We simply added the first four-unit cost through which total unit cost would come
All other information which is given is not relevant. Hence, ignored it
Answer:
The correct answer is letter "B": An addition which increases future benefit.
Explanation:
An asset is a resource of economic value. Individuals, companies, and countries expect their own assets to generate economic benefits both now and in the future. Assets may be tangible, such as machinery and land or intangible, including products such as a trademark, a mechanical formula or property rights.
The accounting term addition <em>refers to the subsequent acquisition of a plant, property, or equipment. Therefore, they are to be considered as assets at the moment of recording them.</em>
Answer:
A, to provide a hedge against inflation
Explanation:
An inventory is the goods or materials or items held by a company for sale at a future period. An inventory could also be called stock.
Inventory has its uses among which is to provide a hedge for inflation. Inventory helps to provide an hedge against inflation as it can be used to keep good or material or ites for sale at a later date in the situation of price rise.
Simply put, Inventory helps to hold out goods, items, materials till a period when it can be resold at a higher price.
Note that, the goods to be kept for future resale is always bought a a lower price today.
Cheers.
Reports of study in my town have shown that out of the 1,762
people in the town, 54 have a post office box.
Therefore, the percent of the people in town have a post
office box
= 54 / 1762 X 100
= 3.06%
