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stepan [7]
3 years ago
9

n 2018, Warehouse 13 had net credit sales of $750,000. On January 1, 2018, Allowance for Doubtful Accounts had a credit balance

of $16,000. During 2018, $29,000 of uncollectible accounts receivable were written off. Past experience indicates that the allowance should be 10% of the balance in receivables (percentage of receivable basis). If the accounts receivable balance at December 31 was $150,000, what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2018
Business
1 answer:
Finger [1]3 years ago
4 0

Answer:

$28,000

Explanation:

When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.  

To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.

Given that Past experience indicates that the allowance should be 10% of the balance in receivables

Allowance = 10% * $150,000

= $15,000

Since during 2018, $29,000 of uncollectible accounts receivable were written off

Balance in allowance account before adjustment

= $29,000 - $16,000

= $13,000 (Debit)

Required adjustment for Doubtful Accounts at December 31, 2018

= $13,000 + $15,000

= $28,000

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faltersainse [42]

Answer:

2021

revenue                 2,666,667

we have cost for <u>  2,000,000  </u>

income for                666,667

2022

revenue                     3.278.400‬

cost                       <u>     2,500,000    </u>

income                          778.400‬

2023

revenue          2,054,933‬

cost             <u>    3,800,000   </u>

loss                   1,745,067‬

Explanation:

2,000,000/ (2,000,000 + 4,000,000) = 1/3

in 2021 a third of the contract was complete therefore we recognize a third of revenue:

8,000,000 x 1/3 = 2,666,667

we have cost for   2,000,000

income for                666,667

2,500,000 / (2,500,000 + 3,600,000) = 0,4098

we recognize revenues for 40.98 of the total contract value.

8,000,000 x 40.98 = 3.278.400‬

cost                       <u>     2,500,000    </u>

income                          778.400‬

2023

we recognize the remaining revenue.

8,000,000 - 2,666,667 - 3,278,400 = 2.054.933‬ revenue

cost 3,800,000

loss   1,745,067‬

7 0
3 years ago
At the heart of any marketing program is the firm's ________, its tangible offering to the market A. value B. strategy C. produc
Lelechka [254]

Answer: (C) Product

Explanation:

  A marketing program is one of the type of business strategy in which the various types of activities are get performed for achieving the main objective of the business in an organization.

It is basically consist of the various types of plans, strategies and the activities in which the product of the company is promoted in the market.

The marketing programs plays an important in the business as it helps in establishing the good relationship with the customers where the products are offered in the market.

Therefore, the firm product is known as the heart of the marketing program that are tangible offer in the market.        

6 0
3 years ago
Rodney Halpern works in the marketing department of a major manufacturing firm. Much of his job involves managing the movement o
fredd [130]

Answer:

Letter D is correct. <u>Supply chain management.</u>

Explanation:

It can be said that Rodney's professional responsibilities focus on supply chain management.  The entire logistical process of a product or service, ranging from its manufacture to its delivery to the final consumer can be defined as a supply chain.

Rodney's job is to ensure that the flow of all stages that make up the production process, such as raw materials, work in progress, finished products, and information are managed correctly so that there is an effective supply chain, which ensure delivery of products and services to the right place at the right time.

5 0
3 years ago
The proper tools constitute the _________ of service; the proper motive constitutes the _________ of service; proper teachings a
zysi [14]
The proper tools constitute the HOW of service; the proper motive constitutes the WHY of service; proper teachings and practices constitute the WHAT of service. The How, Why and What of service are very significant questions to be able to assess the different aspects of service.



7 0
3 years ago
Job analysis is a purposeful and systematic process of collecting information on the important work-related aspects of a job.
pogonyaev

Answer:

True

Explanation:

Job analysis encompasses gathering information about what are job entails and the requirements needed to undertake that job. Ascertaining the level of previous employment experience, academic qualifications, skills required for a job as well as deciding appropriate job compensation and packages is part of job analysis.

6 0
3 years ago
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