All categories

3 years ago

Total 0 1 to 30 31 to 60 61 to 90 over 90

Business

1 answer:

natulia [17]3 years ago

4 0

Answer:

a. $25,650

b. Journal entries

Explanation:

The computation is shown below:

a. The balance of the Allowance for Doubtful Accounts is

= Total account receivable × estimated percentage

= $570,000 × 4.5%

= $25,650

b. The adjusting entry is as follows

Bad Debt Expense $13,650 ($25,650 - $12,000)

To Allowance for Doubtful Accounts $13,650

(Being the bad debt expense is recorded)

c. The adjusting entry is as follows

Bad Debt Expense $26,650 ($25,650 + $1,000)

To Allowance for Doubtful Accounts $26,650

(Being the bad debt expense is recorded)

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Answer:

_______ architecture utilizes processes of designing, construction, operation, maintenance, and removal that have been carefully planned to have the smallest footprint.

Green

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The green architecture is also known as the green design which is such an architecture method in which we build such designs and projects that will have a minimum impact on the environment and health of the people.
In this approach, we use such building materials and techniques that are eco-friendly and produce less harmful wastage. We take steps to keep the air and water clean by not contaminating these resources.
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3 years ago

Under the perpetual inventory system, in addition to making the entry to record a sale, a company would

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Under the perpetual inventory system, in addition to making the entry to record a sale, a company would: a. debit Inventory and credit Cost of Goods Sold.

<h3>What is Inventory ?</h3>

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2 years ago

"Ayres Services acquired an asset for $80 million in 2021. The asset is depreciated for financial reporting purposes over four y

Zepler [3.9K]

a. The cumulative temporary book-tax difference for the depreciable asset are as follows:

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December 31, 2022 = $40 million

December 31, 2023 = $20 million

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b. The balance to be reported in the deferred tax liability account are as follows.

December 31, 2021 = $15 million

December 31, 2022 = $10 million

December 31, 2023 = $5 million

December 31, 2024 = $0

Explanation:

Note: See the attached excel file for the calculation of cumulative temporary book-tax difference for the depreciable asset and the balance to be reported in the deferred tax liability account for December 31 of years 2021, 2022, 2023 and 2024 in bold red color.

In the attached excel file, the following formula are used:

Cumulative Temporary differences at December 31 of the current year = Cumulative Temporary differences at December 31 of the previous year + (Depreciation on the tax return at December 31 of the current year - Depreciation on the income statement at December 31 of the current year)

Balance to be reported in deferred tax liability account at December 31 of the current year = Cumulative Temporary differences at December 31 of the current year * Tax rate

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3 years ago

Western Country Corporation made sales of $ 850 million during 2018. Of this amount, Western Country collected cash for $ 710 m

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Answer:

We have to find Western Country Corporation's net income, and cash balance at the end of 2018.

The answers are:

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3 years ago

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