Answer: $15,500
Explanation:
First we calculate the estimated Uncollecteble debt,
= 6% of 310,000
= 0.06 (310,000)
= $18,600
We will then subtract the existing $3,100 to find out how much we will send to the Bad Debt Expense account because the amount already in the account needs to be included in the $18,600.
= 18,600 - 3,100
= $15,500
We will therefore Debit the Bad Debt Expense account with $15,500 and Credit the Allowance for Doubtful Accounts with the same amount.
If you need any clarification do react or comment.
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Answer:
The correct answer is ending inventory and cost of goods sold
Explanation:
Cost of goods available for sale is defined as the maximum amount of the inventory or the goods which the company could possibly sell during the fiscal or accounting period.
The cost of goods which are available for sale need to be allocated among the cost of goods sold and the ending inventory at the end of the year, where the cost of goods equals to the cost of goods available for sale subtract the ending inventory.
20,950 minus 18750 is 2200 so im guessing the markup is $2200
Answer:
$12,300
Explanation:
I will assume that Joseph invested in the fund on July 14, 2013.
We have to calculate the future value to March 15, 2014 (8 months later).
since the interest is compounded semi annually, it will earn interest on January 14, 2014.
Future value = $12,000 x (1 + 2.5%) = $12,300
since the fund is going to earn interests again on July 14, 2014, the value on march 14 is the same = $12,300
