Answer:
Concord Corporation has outstanding accounts receivable totaling $1.29 million as of December 31 and sales on credit during the year of $6.30 million. There is also a debit balance of $6100 in the allowance for doubtful accounts. If the company estimates that 2% of its accounts receivable will be uncollectible, the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense will be $25800 - option B.
Explanation:
Estimated uncollectible = 2% of account receivables
Allowance account’s adjusted balance must be the same as estimated uncollectible balance.
Therefore, the adjusted Allowance for Doubtful Account = $1.29 millions x 2%
= $1.29*0.02
The adjusted Allowance for Doubtful Account = $ 0.0258 millions or $ 25,800.
Therefore, the correct answer is $ 25,800 - option B.
The prices of American goods exported to japan will increase.
What do you understand by exchange rate?
The value of one country's currency in comparison to another. When nations employ gold or another accepted standard, and each currency is worth a particular amount of the metal or other standard, the exchange rate is "fixed."
What determines the exchange rate?
The market dynamics of supply and demand for foreign exchange often determine exchange rates. The US dollar, the euro of the euro region, the Japanese yen, and the British pound sterling have all employed floating exchange rates as their system of choice for many years.
Learn more about exchange rate : brainly.com/question/14930716
#SPJ4
Answer:
Revenue variance $1800<u> </u>Favorable
Explanation:
<em>Revenue variance is the difference between the actual revenue and the standard revenue from the actual units sold. It is can be determined as follows:</em>
Revenue variance
$
Revenue from 32 units (32× 3,800) 121,600
Actual revenue <u>123,400</u>
Revenue variance <u> 1800 </u>Favorable
Revenue variance $1800<u> </u>Favorable