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Zolol [24]
3 years ago
13

Southwest Pediatrics has the following balances on December 31, 2021, before any adjustment: Accounts Receivable = $116,000; All

owance for Uncollectible Accounts = $1,900 (debit). On December 31, 2021, Southwest estimates uncollectible accounts to be 15% of accounts receivable.
Required:
1. Record the adjusting entry for uncollectible accounts on December 31, 2021.
2. Determine the amount at which bad debt expense is reported in the income statement and the allowance for uncollectible accounts is reported in the balance sheet.
3. Calculate the net realizable value of accounts receivable.
Business
1 answer:
Vilka [71]3 years ago
6 0

Answer:

Bad Debt expense = Allowance for uncollectible debit + (Estimated uncollectibles)

= 1,900 + (15% * 116,000)

= $‭19,300‬

1.

Dec. 31 DR Bad debt expenses                                  $19,300    

                   CR Allowance for Uncollectable                            $19,300

2. Balance Sheet;

= 116,000 * 15%

= $‭17,400‬

Income Statement;

= $19,300

3. Net realizable value

= Accounts receivable - Estimated uncollectibles

= 116,000 - 17,400

= $‭98,600‬

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nata0808 [166]

Answer:

Results are below.

Explanation:

Giving the following information:

Machine= $800,000

Installation= $100,000

Training= $100,000

Total= 1,000,000

Denver and Public agree to a total contract price of $920,000.

First, we will determine the sales proportion:

Machine= 800,000/1,000,000= 0.8

Installation= 100,000/1,000,000= 0.1

Training= 100,000/1,000,000= 0.1

Now, we can allocate the price to each one:

Machine= 920,000*0.8= 736,000

Installation= 920,000*0.1= 92,000

Training= 920,000*0.1= 92,000

4 0
3 years ago
Beasley Company currently sells its products for​ $30 per unit. Management is contemplating a​ 10% increase in the selling price
Ray Of Light [21]

Answer:

Explanation:

Selling price per unit (next year) = 30 + 10 % of 30 = $33

Variable cost per unit (next year) = 30 * 40 % = $12

Contribution per unit (next year) = Selling price per unit (next year) - Variable cost per unit (next year) = 33 - 12  = $21

Fixed expenses = $68,250

Break even point (in units) = Fixed expenses / Contribution per unit.

Break even point (in units) = 68,250 / 21 = $3,250

7 0
2 years ago
Which of the following is an ethical issue in marketing information
murzikaleks [220]

Answer:

Which of the following is an ethical issue in marketing information  management?

The ethical issue in marketing information management has to do with How to store customers' information securely. This must be done in such a way that customers information are not leaked out in order not to bridge the trust issue entrusted in them by the customer.

Explanation:

6 0
3 years ago
Publix has 2,700 pounds of bananas with a total cost of $864. Because the bananas have become too ripe, Publix is contemplating
tamaranim1 [39]

Answer: an increment in profit $1615

Explanation:

2700 pounds of Banana

Total cost = $864

If sold = $1485

When converted into bread $2565 and sold at the cost of $4480

Oven rentage = $300

What is the incremental effect on income if Publix converts the bananas to banana bread?

Sales Amount - Expenses incurred

= $4480 - $2565 + $300

= $4480 - $2865

= $1615

If he had sold the bananas

Sales amount - cost amount

= $1485 - $864

= $621

By converting the bananas to bread the incremental effect on income is it would yield more profits at $1615 compared to when sold at which is $621

3 0
3 years ago
Lists two things that both increase the money supply?
DENIUS [597]

Answer:

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Increase in government spending

Explanation:

Government policies that increases the money supply in an economy is known as expansionary fiscal policy. They are:

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2. Increase in government spending - if the government increases it's spending on public goods for example, money supply would increase. If the government constructs a road, labour would be employed and paid wages. This payment increases the income of Labour and money supply increases.

Central bank policies that increases money supply are known as expansionary monetary policies. They include:

1. Open market purchase: The central bank purchase securities from the open market to increase money supply.

2. Reduction in reserve requirement ratio : if the reserve requirement ratio is reduced , commercial banks would have more money to give out as loans and this would increase money supply.

6 0
3 years ago
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