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kherson [118]
3 years ago
14

During the year, Bonita Industries made an entry to write off a $33300 uncollectible account. Before this entry was made, the ba

lance in accounts receivable was $397000 and the balance in the allowance account was $33700. The accounts receivable amount expected to be collected after the write-off entry was
Business
1 answer:
kozerog [31]3 years ago
5 0

Answer:

Net Accounts Receivable $363300

When the allowance for uncollectibles is maintained the allowance for uncollectibles method is used in which allowance for uncollectibles is deducted from the accounts receivables.

Explanation:

If the method of allowance for uncollectibles is used the amount of allowance for uncollectibles is deducted from the accounts receivables.

Bonita Industries

Accounts Receivable  $397000

Less Allowance For  Uncollectible $33700

Net Accounts Receivable $363300

IF the direct write off method is used the bad debts are directly deducted from the accounts receivable.

Bonita Industries

Accounts Receivable  $397000

Less Uncollectibles $33300

Net Accounts Receivable $363700

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When direct labor employees contribute to the production process, the cost of their labor is recorded by debiting: O Wages Expen
lutik1710 [3]

Answer:

The correct answer is letter "C": Work in Process Inventory.

Explanation:

Work in Process Inventory is an asset in the company's Balance Sheet. It represents the accumulated cost of unfinished goods that are currently in the manufacturing process. Companies that manufacture large or customer-made items typically use a work in progress inventory system to record labor, raw material, and overhead.

6 0
3 years ago
Red Raider Company uses a plantwide overhead rate with direct labor hours as the allocation base. Next year, 560,000 units are e
andrew11 [14]

Answer:

d. $11.11 per unit

Explanation:

Plant wide overhead rate = Total manufacturing cotsts / Total direct labor hours

Plant wide overhead rate = ($2,530,000 + $900,000) / (168,000+110,000)

Plant wide overhead rate = $3,430,000 / 278,000

Plant wide overhead rate = $12.34 per DLH

Overhead cost per unit = Plant wide overhead rate * Direct hours per unit

Overhead cost per unit = $12.34 * 0.90

Overhead cost per unit = $11.11 per unit

7 0
3 years ago
Knowledge Check 01 Zeta Corporation issues $100,000 of 8% bonds maturing in 10 years on January 1, Year 1, when the market rate
alexandr1967 [171]

Answer:

$106,595

Explanation:

Given:

Initial market rate = 9%

Dropped market interest rate, r = 7% per year

or

= 7% × [6 ÷ 12]

= 3.5% = 0.035

Remaining time, n = 9 years = 18 semi annual periods

Now,

Value of the bond at the retirement

= [ PVAF × Interest payment] + [ PVF × face value]

here,

Present value of annuity factor, PVAF = \frac{1 -(1+r) ^{-n}}{r}

or

PVAF = \frac{1 -(1+0.035) ^{-18}}{0.035}

or

PVAF = 13.189

And,

Interest payment = $100,000 × 8% × [6 ÷ 12 ]              [since, 8% bonds]

= $4000

Present value factor = \frac{1}{1.035^{18}}

= 0.538

par value = $100,000

= [13.189 × $40] + [0.538 × 100,000]

= 52,758.7316 + 53,836.114

= $106,595

Hence,

The correct answer is option $106,595

8 0
3 years ago
A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. August usage was forecasted to be 50 per
katovenus [111]

Answer:

Explanation:

Forecast usage = 50 %

Actual Usage = 52%

smoothing constant = 0.10

⇒ 50 + 0.10 (52 - 50)

⇒ 50 + 0.10 (2)

⇒ 50 + 0.2 = 50.20

8 0
3 years ago
Why should games be forbidden on school property
PIT_PIT [208]

Answer:

Explanation:

Games on school property redirect the attention of the students to the games, instead of learning. They cause further disobedience and will often be snuck out to play during class. The students will be distracted and will not learn anything from the time spent in school.

6 0
3 years ago
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