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3 years ago

A count of supplies indicated that $104 of supplies had been used.

Business

1 answer:

tankabanditka [31]3 years ago

7 0

It can be assumed that $104 worth of Supplies have been used?

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Answer:

See explanation below as attached.

Explanation:

1. Predetermined overhead is 139% of direct labor hour

2. Under applied overhead is $6,200

Please find attached breakdown and solution to question 1, 2, 3, 4 and 5.

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3 years ago

Economists emphasize importance equilibrium markets because

aalyn [17]

Because the conduct of purchasers and merchants will naturally manage the market toward the balance cost and amount.
Economic equilibrium is a condition or state in which financial strengths are adjusted. Financial harmony may likewise be characterized as the time when supply measures up to interest for an item, with the balance cost existing where the theoretical free market activity bends cross.

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3 years ago

Teal Mountain Leasing Company signs a lease agreement on January 1, 2020, to lease electronic equipment to Sandhill Company. The

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Answer:

Fair value $238,500

Less: PV of residual value $17,687 (19500*0.90703)

PV of lease payment $220,813

Annual lease = 220813/1.85941

Annual lease = $118,754

Date Account titles and Explanation Debit Credit

1/1/17 Lease receivables $238,500

Cost of goods sold $172,313

Sales $220,813

Inventory $190,000

(To record the lease)

12/31/17 Cash $118,754

Lease receivables $106,829

Interest revenue(238,500*5%) $11,925

(To record the receipts of lease installments)

12/31/18 Cash $118,754

Lease receivables $112,170

Interest revenue(238,500-106829*5%) $6,584

(To record the receipts of lease installments)

12/31/18 Cash $19,500

Lease receivables $19,500

(To record sales of equipment at the end of the lease)

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3 years ago

Why must there be good communication between human resources and other departments

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There must be good communication between Human Resources because how else are we suppose to make babies?...

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2 years ago

Credit sales during 2020 1,200,000 Accounts receivable deemed worthless and written off during 2020 27,000 As a result of a revi

disa [49]

Answer:

$41,000 (not given in the options)

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.

The amount of bad debt to be recorded is the sum of the amount written off and the amount to be allowed as allowance for doubtful debt

= $27000 + $16000

= $41,000

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3 years ago