What is the answer because I don’t know

At December 31, Gill Co. reported accounts receivable of $238,000 and an allowance for uncollectible accounts of $600 (credit) b

meriva

Answer:

$6,540

Explanation:

Given:

accounts receivable of $238,000

allowance for uncollectable accounts of $600 (credit)

Also, the allowance for uncollectible accounts should be 3% of accounts receivable.

Therefore the amount of the adjustment for uncollectible accounts would be

= 3% of $238,000 - $600= $(7140-600)= $6,540

4 0

3 years ago

On January 1, 2017, Sheridan Company had a balance of $417,000 of goodwill on its balance sheet that resulted from the purchase

Thepotemich [5.8K]

Answer:

patent 301,350 debit

cash 301,350 credit

franchise 633,600 debit

cash 633,600 credit

development expense 189,000 debit

cash 189,000 credit

year-end adjustment:

amortization expense 50,225 debit

patent 50,225 credit

amortization expense 31,680‬ debit

patent 31,680‬ credit

Explanation:

The patent and franchise will be activate as there is a certain possibility to produce positive cashflow in the future.

They will be adjusted at year-end for amortization:

301,350 / 6 = 50,225 amortization on patent

633,600 / 10 = 63,360 amortization on franchise

As it was concede on July 1st then, we will do half-year

63,360 / 2 = 31,680‬

The development cost will be treated as expense as there is no precise information that can determined the development cost which yield a positive outcome.

8 0

3 years ago

Jan wants to plan for her daughter’s education. Her daughter, Rachel was born today and will go to college at age 18 for five ye

melisa1 [442]

Answer:

c

Explanation:

ur multiplication is involved

8 0

3 years ago

The number of customers who enter a bank is thought to be Poisson distributed with a mean equal to 10 per hour. What are the cha

VLD [36.1K]

Answer:

The probability that 2 or 3 customers will arrive in a 15-minute period is 0.4703

Explanation:

Firstly, we have to determine the segment unit, since the mean is 10 per hour, the segment unit is 1 hour.

The mean(m) = 10

since the period is 15 minutes = 0.25 hour, t= 0.25 hour / 1 hour. Therefore mt= 2*10 = 2.5

The poisson distribution formula P(x) = $\frac{(mt)^{x}e^{-mt} }{x!}$

Therefore the probability that 2 or 3 customers will arrive in a 15-minute period

P(x=2) or P(x=3) = P(x=2) + P(x=3) = $\frac{(2.5)^{2}e^{-2.5} }{2!}+\frac{(2.5)^{3}e^{-2.5} }{3!}$ = 0.2565 + 0.2138 = 0.4703

Therefore P(x=2) or P(x=3) = 0.4703

The probability that 2 or 3 customers will arrive in a 15-minute period is 0.4703

3 0

3 years ago

Read 2 more answers

Garage Specialty Corporation manufactures joint products P and Q. During a recent period, joint costs amounted to $80,000 in the

goblinko [34]

Answer:

Option B,$62,400 is correct

Explanation:

Firstly,we need to determine the sales of each joint product if sold after the split off point as follows:

Sales value of P=20,000*$2.20=$44,000

sales value of Q=60,000*$2.60=$156,000

total sales value =$200,000

joint cost is $80,000

joint cost allocated to Q=total joint cost*Q sales value/total sales value

=$80,000*156,000/200,000=$62,400

Out of the $80,000 joint cost incurred by both joint products,Q would be allocated $62,400

7 0

3 years ago