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3 years ago

Who might benefit from using a functional resumé?

1 answer:

3 0

With no doubt the answer that is correct is the last one: <span>someone with lots of experience in one career field. This type of resumé are usually used by people who have had many different jobs. It requires a lot of experience. So the last option is the correct one. </span>

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Oriole Company reports the following financial information before adjustments. - Dr. Cr. Accounts Receivable $130,100 Allowance

fgiga [73]

Answer:

(a) 4% of accounts receivable

Oriole Company estimates bad debts at (a) 4% of accounts receivable

Dr Bad Debt Expense $ 35,001

Cr Allowance for Uncollectible Accounts $ 35,001

(b) 4% of accounts receivable but Allowance for Doubtful Accounts had a $1,490 debit balance.

Dr Bad Debt Expense $ 39,801

Cr Allowance for Uncollectible Accounts $ 39,801

Explanation:

Initial Balance

Dr Accounts Receivable $ 130,100

Cr Allowance for Uncollectible Accounts $ 3,310

Sales Revenue (all on credit)

Dr Accounts Receivable $ 880,500

Cr Sales $ 880,500

Sales Returns and Allowances

Dr Sales Returns and Allowances $ 52,830

Cr Accounts Receivable $ 52,830

Oriole Company estimates bad debts at (a) 4% of accounts receivable

Dr Bad Debt Expense $ 35,001

Cr Allowance for Uncollectible Accounts $ 35,001

To register the adjustment of 4% of accounts receivables it's necessary considerate the values previously recorded in the account.

It means, CREDIT Balance $3,310 and to register the difference.

4% of accounts receivable but Allowance for Doubtful Accounts had a $1,490 debit balance.

Dr Allowance for Uncollectible Accounts $ 1,490

Dr Bad Debt Expense $ 39,801

Cr Allowance for Uncollectible Accounts $ 39,801

If the company applies the allowance method, it means that the account Allowance for Uncollectible Accounts must show as balance the % of accounts receivables as CREDIT.

Because the company has a debit balance in that account it's necessary to register an entry that compensate the DEBIT value and reflect A CREDIT estimated as % of account receivable.

FINAL Balance

Dr Accounts Receivable $ 957,770

Cr Allowance for Uncollectible Accounts $ 38,311

Bad accounts are those credits granted by the company and there is no possibility of being charged.

When customers buy products on credits but the company cannot collect the debt, then it's necessary to cancel the unpaid invoice as uncollectible."

One way is to directly cancel bad debts at the time it was decided that the credit is bad, the total amount reported as bad debt expenses negatively affect the income statement and the accounts receivable are reduced by the same amount, less assets

The other way is to determine a percentage of the total amount of accounts receivable as bad debts, there are many ways to analyze accounts receivable and calculate the value of bad debts.

When the company has the percentage of uncollectible accounts, the required journal entry is Bad Expenses (debit) with Reserve for Bad Accounts (credit)

At the time of cancellation, since the expenses were recognized before, we only use the Allowance for Uncollectible Accounts (Debit) with accounts receivable (credit), with this we are recognizing the bad credit of the company.

7 0

2 years ago

Chester's product manager is considering lowering the price of the Cone product by $2.50 and wants to know what the impact will

lozanna [386]

Answer:

The contribution margin will decrease by 2.50

Explanation:

$Sales \: Revenue - Variable \: Cost = Contribution \: Margin$

IF sales decreases, then the contribution margin decreases.

That's because, there is less money to pay for the variable cost.

The company will also have to sale more units to break even, as now each units contribution is fewer.

Cone's should evaluate how much their sales are expected to increase for the lower price and be cautious

7 0

3 years ago

What is the total manufacturing overhead assigned to the current order for Men's Razors if the firm uses a volume-based plant wi

Brut [27]

Answer:

$7,200

Explanation:

The computation of the total manufacturing overhead assigned is shown below:

= ($168,640 + $127,840 + $554,400 + $1,078,000) ÷ $514,368

= 375% per direct-labor dollar.

Now

= $514,368 ÷ 8,037

= $64 per DL hour.

And,

= $64 × 30 direct labor hours

= $1920.

So,

Manufacturing overhead is

= 1920 × 375%

= $7,200

8 0

3 years ago

When should you write a functional (skills) résumé? a. when you work history does not have obvious gaps. b. when you are making

Paul [167]

One should write a functional (skills) resume when you are making a career change.

<h3>What is a resume?</h3>

A resume is a document that outline information about a job applicant including his or professional experience.

The document also contains applicant work skills and background details.

Hence, one should write a functional (skills) resume when you are making a career change.

Learn more about resume here : brainly.com/question/14178136

#SPJ4

5 0

2 years ago

The following shows annual production costs and profits at Gauss-Jordan Sneakers, Inc. A - B - C - D Production Costs : 2004 - 2

mars1129 [50]

Answer:

A B C D

Production Costs : 2004 - 2005 - 2006

Gauss Grip : $2,300 - $2,700 - $2,900

Air Gauss : $1,900 - $2,200 - $1,700

Gauss Gel : $2,000 - $2,500 - $1,800

Profit : 2004 - 2005 - 2006

Gauss Grip : $12,000 - $16,000 - $18,000

Air Gauss : $10,000 - $14,000 - $16,000

Gauss Gel : $11,000 - $16,000 - $14,000

As we know:

Revenue = Cost + Profit

*Proper Matrix format is also attached in the picture with this answer.

Production Costs : 2004 2005 2006

$\left[\begin{array}{ccc}2300&2700&2900\\1900&2200&1700\\2000&2500&1800\end{array}\right]$

Profit : 2004 2005 2006

$\left[\begin{array}{ccc}12000&16000&18000\\10000&14000&16000\\11000&16000&14000\end{array}\right]$

Revenue : 2004 2005 2006

$\left[\begin{array}{ccc}2300+12000&2700+16000&2900+18000\\1900+10000&2200+14000&1700+16000\\2000+11000&2500+16000&1800+14000\end{array}\right]$

Revenue : 2004 2005 2006

$\left[\begin{array}{ccc}14300&18700&20900\\11900&16200&17700\\13000&18500&15800\end{array}\right]$

4 0

3 years ago