Answer:
Option (B) is correct.
Explanation:
Amount of which adjusting entry required:
= Amount of uncollectible accounts - Balance in Allowance for uncollectible accounts
= (Balance in accounts receivable × Estimated percentage of accounts receivable to be uncollectible) - Balance in Allowance for uncollectible accounts
= ($200,000 × 4%) - $2,000
= $8,000 - $2,000
= $6,000
Therefore, the adjusting entry is as follows:
Bad debt expense A/c Dr. $6,000
To Allowance for uncollectible accounts $6,000
(To record the bad debt expense)
Answer:
TRUE
Explanation:
Kleister Company:
1. Issues bonds for $100 million - INFLOW
2. Repays a long-term notes payable of $10 million. - OUTFLOW
3. The company also repurchases its own shares for $12 million - OUTFLOW
4. Issues stock dividends with a market value of $5 million. - NOT A CASH FLOW
It is therefore true that Net cash flow from financing activities will be: $78 million [100 million - 10 million - 12 million] since the dividends are stock dividends not cash dividends
Answer:
The main source of conflict that occured between the supervisors and the HR departments at Sand Corporation was the division of power that occurred between the Supervisors and the HR departments
Explanation:
The main source of conflict between the supervisors and the HR departments at Sand Corporation was the division of power that occurred between the Supervisors and the HR departments reason been that the supervisors feel that the power and authority that should have been with them or vested on them for hiring, compensation, appraisal, as well as training and pay increases has been appropriated and carried out by the HR departments.
WHILE the HR managers or HR departments on the other hand want to keep the authority to themselves because they believed and known that authority is a source of power.
Answer:
Ans. He must save during each of the following 10 years, at the end of each year $32,452.
Explanation:
Hi, in order to find the amount of money that he should have in ten years so he can receive an annual payment of $65,156 for 25 more years (24 payments), we need to bring to present value all 24 payments to year 10. Let me show you the formula.
Where:
A= $65,156
n= 24
r= 0.08
Therefore the present value in year 10 is:
So that is our present value in year 10, or to put it in other words, our future value (if we look at it from year 0). Now we need to find the annuity (amount to save) that with account for $686,012, plus that $100,000 that he already has saved.
Every should look like this.
And we solve this equation for "A".
Best of luck.
Answer:
Predetermined manufacturing overhead rate= $14.65 per direct labor hour
Explanation:
Giving the following information:
Estimated direct labor hours= 40,000
Estimated fixed overhead= $466,000
Estimated variable overhead rate= $3.00 per direct labor-hour.
<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (466,000/40,000) + 3
Predetermined manufacturing overhead rate= $14.65 per direct labor hour
