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dedylja [7]
3 years ago
8

Accounts receivable $1,050,000Allowance (90,000)Cash realizable value $960,000During 2007 sales on account were $290,000 and col

lections on account were $172,000. Also during 2007 the company wrote off $16,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that bad debts should be estimated at $108,000.52. Bad debts expense for 2007 isa. $ 34,000b. $ 18,000c. $108,000d. $ 2,000
Business
1 answer:
Flauer [41]3 years ago
5 0

Answer:

a. $ 34,000

Explanation:

The entry when the company wrote off uncollectible accounts:

Debit Allowance for Doubtful Accounts $16,000

Credit Uncollectible accounts $16,000

At the end of 2007, Allowance for Doubtful Accounts before adjusting trial balance: $90,000-$16,000 = $74,000

The company estimates bad debts based on outstanding receivable accounts. So, the amount of Bad debts expense for 2007 should be:

$108,000 - $74,000 = $34,000

The entry will be record:

Debit Bad debts expense $34,000

Credit Allowance for Doubtful Accounts $34,000

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Razor Inc. manufactures industrial components. One of its products used as a subcomponent in auto manufacturing is Fluoro2211. T
Neko [114]

Answer:

Total contribution margin= $1,884,180

Explanation:

Giving the following information:

Direct Materials 150

Direct Labor 28

Variable Manufacturing Overhead 25

Variable Selling 16

Sales in units= 10,130

Selling price= $420

Direct material cost= 150*1.1= $165

<u>First, we need to calculate the unitary contribution margin:</u>

Unitary contribution margin= selling price - total unitary variable cost

Unitary contribution margin= 420 - (28 + 25 + 16 + 165)

Unitary contribution margin= $186

<u>Now, the total contribution margin:</u>

Total contribution margin= 10,130*186

Total contribution margin= $1,884,180

3 0
3 years ago
from a company's viewpoint, the existence of an active, liquid, well-organised market in existing shares:
garri49 [273]

From a company's viewpoint, the existence of an active, liquid, well-organized market in existing shares A. facilitates the raising of further capital in the secondary market.

<h3>What is a secondary market?</h3>

A secondary market is a securities market for the exchange of securities and assets among investors rather than with the issuing entities.

The types of secondary markets include:

  • Over-The-Counter Markets
  • Stock Exchanges
  • Auction markets
  • Dealer markets.

<h3>Answer Options:</h3>

A. facilitates the raising of further capital in the secondary market.

B. maintains the share price above the initial issue price.

C. encourages successful primary market issues.

D. is of little or no consequence.

Thus, from a company's viewpoint, the existence of an active, liquid, well-organized market in existing shares A. facilitates the raising of further capital in the secondary market.

Learn more about secondary markets at brainly.com/question/14484986

#SPJ12

4 0
2 years ago
List four things a personal essay should not include
Assoli18 [71]

Quotations, Random Lists, Over-used clichés, Limit your use of the word “passion”, And Stilted vocabulary.

5 0
3 years ago
Mutual funds offer small investors an opportunity to diversify their investments.
Firdavs [7]
A. True the answer is not false
3 0
4 years ago
Read 2 more answers
Consumption spending is $4.5 billion, gross private domestic investment is $3 billion, and government expenditures are $2 billio
masha68 [24]

Answer:

exports are $15 billion, and imports are $10.5 billion

Explanation:

GDP is the sum of all final goods and services produced in an economy within a given period which is usually a year.

GDP = Consumption + Investment spending + Government Spending + Net Export

14 billion = 4.5 billion + $3 billion + $2 billion + Net Export

Net Export = $4.5 billion

Net Export = export - import

Net Export is positive so it indicates that exports is greater than imports.

Going through the options, it is only option d that is equal to 4.5 and the export is greater than the import.

I hope my answer helps you

7 0
4 years ago
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