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marin [14]
3 years ago
5

At the beginning of the year, Kullerud Manufacturing had a credit balance in its allowance for doubtful accounts of $10,670, and

at the end of the year it was a credit balance of $11,240. During the year, Kullerud made credit sales of $1,270,990, collected receivables in the amount of $1,240,830, and recorded bad debt expense of $42,550.
Required:

Compute the amount of receivables that Kullerud wrote off during the year.
Business
1 answer:
cluponka [151]3 years ago
3 0

Answer:

$41,980

Explanation:

Allowance for doubtful account records the yearly estimated charge of bad debt expense. It ahd credit nature because it is an contra account receivable account. A bad debt write off is also recorded in this account. Account recivable balance on balance sheet is reported after adjusting Allowance for doubtful account balance.

Allowance for doubtful account

Ending Balance = Beginning Balance + Bad debt Expense for the year - Receivable written off

$11,240 = $10,670 + $42,550 - Receivable written off

$11,240 = $53,220 - Receivable written off

Receivable written off = $53,220 - $11,240 = $41,980

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Financial leverage:
s344n2d4d5 [400]

Answer:

Correct option is (5)

Explanation:

Financial leverage refers to including debt in the acquiring financial assets of the company. Source of funds includes a mix of equity and debt. The more the debt content, more is the company financially leveraged.

As proportion of debt increases, cost of equity increases as investors assume more risk. Volatility of stock increases so investors need to be compensated more for risk assumed by them. As such, their return increases.

5 0
3 years ago
Company XYZ closed at ​$ per share with a​ P/E ratio of . Answer the following questions. a. How much were earnings per​ share?
uysha [10]

Answer:

Hello your question is incomplete below is the complete question

Company XYZ closed at ​$53.02 per share with a​ P/E ratio of 14.02 .

Answer :

A)  $3.79

B) underpriced

Explanation:

Given data:

Closing price  ( price per share ) = $53.02

P/E ratio = 14.02

A ) How much earnings per share

Earnings per share = price per share / (P/E) ratio

                                =  53.02 / 14.02 =  $3.79

B) To check if the stock is overpriced, underpriced or about right

i) At P/E ratio = 12

 Earnings per share = 53.02 / 12 = $4.43

 Earning yield = ( earning per share / market value ) * 100

                        =  ( 4.43 / 53.02 ) * 100 = 8.33%

ii) At P/E ratio = 13

Earnings per share = 53.02 / 13 = $4.09

Earning Yield = ( earning per share / market value ) * 100

                      = (4.09 / 53.02 ) * 100 = 7.69%

iii) At P/E ratio = 14

Earnings per share = 53.02 / 14 = $ 3.8

Earnings yield = ( earning per share / market value ) * 100

                        = ( 3.8 / 53.02 ) * 100 = 7.14%

The average of the earning yield given P/E ratio is 12-14

= ( 8.33 + 7.69 + 7.14 ) % / 3 = 7.72%

while  The earning yield given P/E ratio is 14.02

=  ( earning per share / market value ) * 100

= ( 3.79 / 53.02 ) * 100 =  7.12%

Therefore the stock is underpriced

4 0
2 years ago
Which of the 5ms of the manufacturing process represents the way raw materials are formed, shaped, and held together?
Anit [1.1K]
The appropriate response is Method. It speaks to how crude materials are framed, formed, and held together. Frequently there are numerous techniques to finish the framing of a section. Both the materials and plan prerequisites drive the determination of the strategies.
4 0
3 years ago
Describe your strategy for pricing your goods or service. What will the final price be?:​
Rainbow [258]

Answer:

Think of the price of materials then of your time

Explanation:

5 0
2 years ago
Barclay Corporation produced 250,000 watches that it sold for $32 each during year 2. The company determined that fixed manufact
alexandr1967 [171]

Answer:

a. 6.4$

b. 1 600 000$

c. 6 400 000$

Explanation:

First, let's determine <em>net sales</em>. The total sales volume should be multiplied with product price.

Net sales = 250 000*32$ = 8 000 000$

Since we have the gross margin and net sales, we can determine the cost of goods sold (COGS).

COGS = Net Sales - Gross margin

COGS = 8 000 000 - 2 400 000 = 5 600 000$

Now that we have COGS, we can determine the total variable cost:

Total variable cost = COGS - Total fixed cost

Total variable cost = 5 600 000 - 250 000 * 16 = 1 600 000$

So, the variable cost per unit is:

Total variable cost/Number of units = 1 600 000 / 250 000 = 6.4$

Lastly, the total contribution margin is:

Total contribution margin = Sales Revenue - Total variable costs

Total contribution margin = 8 000 000 - 1 600 000 = 6 400 000$

This margin is useful when conducting a break-even analysis and determining the price of the product to be sold.

4 0
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