Answer:
C. $24,000
Explanation:
We assume that the company follows the percentage-of-sales method. In this method, the company ignored the previous balance of allowance for Doubtful Accounts
So, the amount of the adjusting entry to record the estimate of the uncollectible accounts would be
= Net credit sales × estimated percentage given
= $600,000 × 4%
= $24,000
All other information which is given is not relevant. Hence, ignored it
Answer:
A-True
B-True
C-True
D-True
E-True
Explanation:
To begin with, according to a report done on 2018 by the United Nations Office on Drugs and Crime The United States is increasing highly its number of drugs consumption regarding the fact that the american territory is growning as an illegal drugs' destination. Moreover, just like other countries that have high gross national income per capita the more citizens they have the more they consume regarding the fact that both rich and poor tend to drug addiction and therefore that those countries tend to be destinations for drugs. In addition, countries with the lowest gross national income per capita tend to be the ones that produce the drugs according to a report done by the government of The United States called ''the black list'' of country producers and where of 22 countries in the list, 17 of them are latinamerican countries that have low gross national income per capita.
To continue, the drug traffic around the world involves nearly all regions of the globe regarding the fact that they may either a source or a destination for the drugs. Furthermore, taking China for example, a great hotbed of illegal drug activity that has been increasing over the years.
Answer:
The financial advantage (disadvantage) from further processing is $0.40.
Explanation:
Compute the financial advantage (disadvantage) of further processing of T-bone into filet mignon and New York cut steaks using the equation as shown below:
Financial advantage = Total sales from further processing −
Sale revenue lost of one T−bone − Cost of further processing
=$8.90−$7.95−$0.55
=$0.40
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Hence, the financial advantage (disadvantage) of further processing of T-bone into filet mignon and New York cut steaks is $0.40.
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Working Notes:
Compute the total sales from further processing using the equation as shown below:
Sales from further processing = One Fileted Mignon + New York Cut
=$4.50+$4.40
=$8.90
Hence, the total sale from further processing is $8.90.
Compute the Sales revenue from one fileted mignon after further processing using the equation as shown below:
One Fileted Migon = (Selling price per filet mignon×Yeild per ounce / Size of one T−bone steak
)
= $12×6 ounce / 16 ounce
=$4.50
Hence, the sales revenue from one fileted mignon after further processing is $4.50.
Compute the Sales revenue from one New York cut after further processing using the equation as shown below:
New York cut = (Selling price per New York cut × Yeild per ounce / Size of one T−bone steak
)
= $8.8×8ounce / 16 ounce
=$4.40
Answer:
Carriage outwards: 7,520 debit
Explanation:
Accounts DEBIT CREDIT
Plant and machinery 95,000
Property 135,000
Inventory 6,400
Receivables 2,850
Payables 3,600
Bank overdraft 970
Loan 45,000
Capital 100,000
Drawings 32,000
Sales 362,000
Carriage outwards x
Purchases 156,000
Purchase returns 2,200
Discounts received 3,500
<u>Sundry expenses 82,500 </u>
TOTAL 509,750 517,270
We construct the trial balance and the carriage outwar balance will be the diference between debit and credit:
517,270 - 509,750 = 7,520