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nordsb [41]
3 years ago
13

Craigmont uses the allowance method to account for uncollectible accounts. its year-end unadjusted trial balance shows accounts

receivable of $104,500, allowance for doubtful accounts of $665 (credit) and sales of $925,000. if uncollectible accounts are estimated to be 4% of accounts receivable, what is the amount of the bad debts expense adjusting entry?
Business
1 answer:
spayn [35]3 years ago
5 0
<span>$104,500 * 0.04 = $4,180 - $665 = $3,515</span>
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Texas Plating Company reported a cost of goods manufactured of $524,000, with the firm's year-end balance sheet revealing work i
Alborosie

Answer:

Beginning WIP= 122,000

Explanation:

Giving the following information:

Cost of goods manufactured= $524,000

Ending work in process= $79,000

Raw materials used in the production of $89,000

Direct labor of $145,000

Manufacturing overhead of $247,000

To calculate the beginning work in process we need to use the cost of goods manufactured formula:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

524,000= Beginning wip + 89,000 + 145,000 + 247,000 - 79,000

Beginning WIP= 122,000

8 0
3 years ago
Vivi Corporation had net income of $401,000 in 2015. The company's Common Stock account balance all year long was $267,000 ($10
Leto [7]

Answer:

2.23 is the price earnings ratio.

Explanation:

Firstly we must find the Earnings per share for this problem as it is needed to calculate the price earnings ratio so earnings per share = (Net income)/(Number of shares outstanding).

we are given net income of $401000 then to obtain number of shares outstanding for 2015 are $267000/$10 as we saw the company's common stock account balance all year long was that value of which each share has a par value of $10, then we get outstanding shares which are 26700 now we calculate the earnings per share (EPS) by using the above formula with substituting the above mentioned values :

Earnings Per Share= $401000/26700

                              = $15.01872659

now we will use the Price Earnings Ratio formula which is

Price Earnings Ratio = (current share price)/(earnings per share )

we have been given a current share price of $33.50 now we will use the earnings per share which was calculated above.

Price Earnings Ratio = $33.50/$15.01872659

                                   = 2.230548628 then we round off the answer to two decimal places

Price Earnings Ratio = 2.23

4 0
3 years ago
Jeremy is working on a spreadsheet which part of the information processing cycle will justify Jeremy’s use of the spreadsheet a
alukav5142 [94]
<span>Jeremy is working on a spreadsheet, the processing of the information processing cycle will justify Jeremy’s use of the spreadsheet and give the final output.  </span><span>Applying instructions to data takes place during the </span>PROCESSING  <span>stage of the information processing cycle.</span>
3 0
2 years ago
Jane learned that, although she and June were both hired as part-time salesclerks at the same time and have similar backgrounds,
sveta [45]

Answer:

Equity Theory

Explanation:

Based on the information provided within the question this seems to be a clear example of Equity Theory. This theory focuses on determining if the amount of a certain reward or payment that is divided among a set of individuals is fair, and is measured by comparing the contributions that are received by each individual or that set/group. Which seems to be the case in this scenario since June feels that it is unfair that they both do the same work and she is getting paid $1 less than her co-worker.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

6 0
3 years ago
10 percent decrease in consumer incomes leads to a 20 percent decrease in the quantity demanded of good D. Instructions: Round y
Katyanochek1 [597]

Answer:

Income elasticity = 2

Normal good

Explanation:

Below is the given values:

Percentage decrease in consumers income = 10%

Percentage decrease in quantity demanded = 20%

Use the below formula to find the income elasticity:

Income elasticity = % change in quantity demanded / % in income

Income elasticity = -20/-10

Income elasticity = 2

Since the elasticity is 2 that means good is normal good.

4 0
2 years ago
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