1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
emmasim [6.3K]
3 years ago
8

A company that uses the allowance​ method, writesminusoff a receivable of $ 6 comma 000. Prior to the journal​ entry, the credit

balance in the Allowance for Uncollectible Accounts was $ 19 comma 432 and Accounts Receivable were $ 2 comma 005 comma 000. After the entry to writeminusoff the receivable is​ made, the net realizable value of Accounts Receivable will​ be: _______
Business
1 answer:
o-na [289]3 years ago
3 0

Answer:

The net realizable value of Accounts Receivable = 1,985,538

Explanation:

The journal​ entry will be: Allowance for Uncollectible Accounts (Debit - Decreased) 6,000 and Accounts Receivable (Credit - Decreased) 6,000.

After the journal​ entry the credit balance in the Allowance for Uncollectible Accounts will be: 2,005,000 - 6000 = 1,999,000, and the debit balance in Allowance for Uncollectible Accounts will be: 19,462 - 6,000 = 13,462.

Then net realizable value of Accounts Receivable will be: 1,999,000 - 13,462 = 1,985,538.

You might be interested in
Burns Industries currently manufactures and sells 23,000 power saws per month, although it has the capacity to produce 38,000 un
Dmitrij [34]

Answer:

Increase by $37,100.

It will accept any time the price is above $43 with the condition it will not incur in additional fixed cost.

$63. is the sales price that generates 106,000 dollar of operating income

Explanation:

As the units will not inccur in any additional fixed cost we should check for the contribution margin this units will provide:

50 dollars - 43 dollar of variable cost = 7 dollars

5,300 saws x $7 = 37,100

The sales reveues will increase by that amount.

(5,300 x $43 dollars each in cost + 106,000 contribution )/5,300 = sales price

sales price = 63

6 0
3 years ago
When a government limits imports via tariffs and quotas and subsidizes exports in order to maximize exports and minimize imports
Jlenok [28]

Answer:

The correct answer is letter "A": A mercantilist philosophy.

Explanation:

The mercantilist philosophy is the economic approach whereby governments control their economies to reduce imports and maximize exports. It is believed that by taking such a measure, the wealth of the nation would increase as a result of the surplus in the balance of trade of the country. The trade balance is calculated by subtracting imports from exports.

3 0
3 years ago
Variable costs as a percentage of sales for Lemon Inc. are 74%, current sales are $697,000, and fixed costs are $178,000. How mu
Crank

Answer:

Effect on income= $12,038 increase

Explanation:

Giving the following information:

Variable costs as a percentage of sales for Lemon Inc. are 74%

How much will operating income change if sales increase by $46,300.

<u>To calculate the effect on income, we need to calculate the increase in total contribution margin:</u>

<u></u>

Total contribution margin change= 46,300*(1-0.74)

Total contribution margin change= $12,038 increase

Effect on income= $12,038 increase

7 0
3 years ago
One way to view the results of multiple indicators is to use a chart called a ____________ . a. summarization chart b. pareto ch
zheka24 [161]

Answer:

The correct answer is letter "C": Matosas matrix.

Explanation:

In business fraud detection, the Matosas matrix is a chart useful for contract bidding. Its key feature is allowing to enter <em>multiple indicators in the chart</em>. Each column in the chart represents an indicator so, those indicators can be combined for an easier understanding of the study and to spot the indicators that need adjustments for better results.

5 0
3 years ago
On October 1, Eder Fabrication borrowed $66 million and issued a nine-month, 8% promissory note. Interest was payable at maturit
blondinia [14]

Answer:

Explanation:

The adjusting entries are shown below:

1. Cash A/c Dr $66,000,000

        To Short term notes payable A/c $66,000,000

(Being issue of short term note payable is recorded)

2. Interest expense A/c Dr $1,320,000

        To Interest payable A/c                    $1,320,000

(Being interest is recorded)

The interest amount is computed below:

= Principal × rate of interest × number of months ÷ (total number of months in a year)

= $66,000,000 × 8% × ( 3 months ÷ 12 months)

= $1,320,000

The 3 months is calculated from October 1 to December 31

3 0
3 years ago
Other questions:
  • Alvin Electronics is in the process of reconciling its bank account for the month of November. The following information is avai
    5·1 answer
  • Consumers will often turn to one of their formal or informal ______ groups for advice and guidance on acceptable beliefs, attitu
    10·1 answer
  • If Good C increases in price by 50 50 % a pound, and this causes the quantity demanded for Good D to increase by 60 % 60% , what
    5·2 answers
  • Teri Martin Nerdmeister, CPA provides bookkeeping and tax services to her clients. She charges a fee of $60 per hour for bookkee
    7·1 answer
  • Trimble Graphic Design receives $1,800 from a client billed in a previous month for services provided. Which of the following ge
    9·1 answer
  • Which of these best describes the relationship
    13·1 answer
  • What is the present value of a constant perpetuity of 25 per year where the required rate of return is 5%
    8·1 answer
  • How do the entry and exit of firms in a purely competitive industry affect resource flows and long-run profits and losses?
    11·1 answer
  • How do I do this? I need help.
    12·1 answer
  • Which of the following is an insurance company?
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!