Answer:
The bad debts expense for 2015 would be $ 28,000
Explanation:
The balance of the allowance for doubtful account should be equal to the amount estimated to be uncollectible based on the ageing analysis
Estimated uncollectible account $ 31,000
Allowance for doubtful accounts prior to adjustment <u>$ 3,000</u>
Bad debts expense for the year to be recorded <u> $ 28,000</u>
The accounting entry to record this is as follows:
Bad debts expense Debit $ 28,000
Allowance for uncollectible accounts Credit $ 28,000
The erp application is stored on the business logic tier in tiered architecture.
<h3>What is an
erp application?</h3>
Also called a Enterprise resource planning software, involves the use of software, technologies and systems to manage and integrate their core business processes.
As the tiered architecture is concerned, the erp application is stored on the business logic tier.
Read more about erp application
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Answer:
Option (c) is correct.
Explanation:
Variable manufacturing costs = $30000
Variable selling and administrative costs = $14000
Fixed manufacturing costs = $160000
Fixed selling and administrative costs = $120000
Investment = $1700000
ROI = 50%
Planned production and sales = 5000 pairs
ROI = Investment Value × ROI Rate
= $1,700,000 × 50%
= $850,000
Desired ROI per Pair of Shoes :-
= ROI ÷ Planned production and sales
= $850,000 ÷ 5000 pairs
= $170
Answer:
b. $19500000.
Explanation:
Break-even point is the level of sales on which business has no profit no loss situation. The business only covers the variable and fixed cost at this point.
Total Contribution can be determined by calculating adding estimated contribution of each division.
Total Contribution ratio = (65% x 30%) + (35% x 50%) = 19.5% + 17.5% = 37%
Fixed cost = $7,215,000
Break-even point = Fixed cost / Contribution margin ratio = $7,215,000 / 37% = $19,500,000
Answer: B. withdrawing funds from the account for the custodian's use
Explanation:
Under the Uniform Gifts to Minors Act, the Custodian's duty is to manage the account for the minor and allocate the assets within in such a way that it will bring about the best returns for the minor.
Custodians should not abuse this power for their own benefit or gain which is why the custodian withdrawing funds from the account for their own use is a violation of the act.
