Choose the answer.

At the end of 2021, Worthy Co.’s balance for Accounts Receivable is $11,000, while the company’s total assets equal $1,410,000.

erastovalidia [21]

Answer:Worthy journal $

Date

March 14, 2022

Bad debt Dr 2600

Receivable Cr 2600

Narration. Record of receivables written off to income account on account becoming unrecoverable.

Explanation:

The direct method of written off bad debts do not make provision for estimate of receivables that are likely to go bad in which the estimate is recognised as debit to income statement and the corresponding credit entry is used to reduce the receivables, with adjustment been made at the year end for variances.

In the direct method the actual bad debts is debited in the income s statement and credited to the receivables accounts.

6 0

3 years ago

Tamarisk Inc. had a beginning inventory of $11,700 at cost and $18,200 at retail. Net purchases were $132,188 at cost and $183,7

Agata [3.3K]

Answer: $47,736

Explanation:

GIVEN THE FOLLOWING ;

beginning inventory = $11,700 at cost

Beginning inventory =$18,200 at retail.

Net purchases= $132,188 at cost

Net purchases =$183,700 at retail

Net markups = $9,700

Net markdowns = $6,600

Sales revenue = $134,800.

Ending inventory at cost using conventional retail method ;

Cost total = beginning inventory at cost + net purchases at cost

Cost total = $(11,700 + 132,188) = $143,888

Retail total (after net markups) = beginning inventory at retail + net purchases at retail + net markups

$(18,200+183,700+9700) = $211,600

Cost-to-retail ratio ;

$(143,888 ÷ 211,600) = 0.68 = 68%

Ending inventory at retail :

$211,600-(net markdowns + sales revenue)

$211,600 - $(6600+134800)

$211,600 - $141,400 = $70,200

Ending inventory at cost = 0.68 × $70,200 = $47,736

7 0

3 years ago

Suppose that annual income from a rental property is expected to start at $ per year and decrease at a uniform amount of $ eac

Aloiza [94]

Answer and Explanation:

Year Cash Inflow Discounting factor 9%, 12 Years Present Value

0 -$8,200 1 -$8,200.00

1 $1,350 0.8929 $1,205.42

2 $1,295 0.7972 $1,032.37

3 $1,240 0.7118 $882.63

4 $1,185 0.6355 $753.07

5 $1,130 0.5674 $641.16

6 $1,075 0.5066 $544.60

7 $1,020 0.4523 $461.35

8 $965 0.4039 $389.76

9 $910 0.3606 $328.15

10 $855 0.322 $275.31

11 $800 0.2875 $230.00

12 $745 0.2567 $191.24

Net Present Value -$1,264.95

Since the net presnet value comes in negative so it is not beneficial for a company as it is not able to cover the initial investment

6 0

3 years ago

The ending inventory has 83,000 units, which are 100 percent complete for Department R costs. Required: a. Assume that Saline So

natima [27]

Answer:

Total unit cost $8.80

Total Costs Transferred out $730,400

Explanation:

In Process Costing we find the individual unit costs and total costs transferred by multiplying it with the equivalent no of units.

As the units are 100 percent complete the Equivalent units are 83,000 units for both materials and conversion.

Saline Solutions

Weighted-Average Process

Materials in Department S $6.40

Conversion costs Department S $2.40

Total unit cost $8.80

Total No of units 83,000

Total Costs $8.80

Total Cost Transferred Out $730,400

Total Costs Transferred to Materials = $ 6.4 * 83,000=$ 531200

Total Costs Transferred to Conversion = $ 2.4 * 83,000=$ 199200

Total Costs Transferred= $ 531200+$ 199200= $ 730400

4 0

4 years ago

Product life cycle is defined as

dezoksy [38]

Answer:

The correct answer is option d.

Explanation:

The product life cycle can be defined as a concept in marketing that describes the stages a product goes through in the marketplace. It is used by management and marketing professionals to decide when to increase advertising, reduce prices, expand to new markets, or redesign packaging.

This concept can be broken down into four stages:

Introduction
Growth
Maturity
Decline

8 0

4 years ago