In a market economy the factors of production are allocated by

At the beginning of the current period, Sheridan Company had balances in Accounts Receivable of $203,500 and in Allowance for Do

Dmitrij [34]

Answer:

Sheridan Company

a. Debit Accounts receivable $739,000

Credit Sales revenue $739,000

To record sales of goods on account.

Debit Cash $813,450

Credit Accounts receivable $813,450

To record collections from customers.

b. Debit Allowance for Uncollectible Accounts $7,198

Credit Accounts receivable $7,198

To record the write-off of accounts for the period.

c. Debit Accounts receivable $2,978

Credit Allowance for Uncollectible Accounts $2,978

To record the recovery of the uncollectible account.

d. Debit Bad Debts Expense $22,410

Credit Allowance for Uncollectible Accounts $22,410

To record bad debt expense for the period.

Explanation:

a) Data and Analysis:

a. Accounts receivable $739,000 Sales revenue $739,000

b. Cash $813,450 Accounts receivable $813,450

c. Allowance for Uncollectible Accounts $7,198 Accounts receivable $7,198

d. Accounts receivable $2,978 Allowance for Uncollectible Accounts $2,978

e. Bad Debts Expense $22,410 Allowance for Uncollectible Accounts $22,410

Allowance for Uncollectible Accounts

Account Titles Debit Credit

Beginning balance $8,620

Accounts receivable $7,198

Accounts receivable 2,978

Bad debts expense 22,410

Ending balance 26,810

Totals $34,008 $34,008

5 0

2 years ago

On September 1, 2020, Vaughn Manufacturing issued a note payable to National Bank in the amount of $1440000, bearing interest at

Vilka [71]

Answer:

$28,800

Explanation:

I will just assume that there are three equal annual principal payments of $480,000. If we use $550,000, the total principal would = $1,650,000.

accrued interests from September to December = principal x (9%/12) x 4 months

principal = $480,000 x 2 = $960,000

accrued interest payable = $960,000 x 0.75% x 4 = $28,800

3 0

3 years ago

Ms. Finkel has suggested that if given sufficient resources, she could redesign the production process to reduce the percentage

liubo4ka [24]

Explanation:

To find the probability that the sample which fails to meet the required weight or the standard weight of the marshmallows having banana flavor if the process of production is working, such that probability for the weekly sample leads to shutdown of the production if the process of the production is running properly of 1 % of the probability that at least five boxes out of the twenty five sample fails to meet the standard weight which is less than one percent that is $p(x \geq 5) \leq 0.01$

We know that for p = 0.8, $p(x \geq 5) = 0.0452$

Now using binomial simulation, we can determine that $p(x \geq 5) \leq 0.01$ for p = 0.0452

So the production process is to be redesigned for reducing the percentage of boxes of the Go Bananas of 16 ounces which failed to meet the required weight of the marshmallows having banana flavor if the production process is working properly to 5.42 percent.

8 0

3 years ago

Two eastern European countries formed a free trade agreement. As a result, one of the countries that used to produce its own pla

Aleonysh [2.5K]

Answer:

Trade creation

Explanation:

Trade creation is the process where there is increase in economics welfare as a result of joining a free trade area for example a customs Union.

Consumption experiences a shift from high cost producers to low cost producers causing expansion in trade.

In the given instance due to formation of free trade agreement, high cost plastic production is now replaced with low cost import of plastics from the other company.

There is a shift from high cost producers to low cost producers as a result of trade agreement between the two nations.

3 0

2 years ago

Management? Is it for you?

Pepsi [2]

Answer:

Not really, too much stress imo

Explanation:

8 0

2 years ago