Answer:
$101,500
Explanation:
Net Sales $2,030,000
Allowance for uncollectible Accounts ($2,030,000*5%)=$101,500
The amount of uncollectible accounts to be reported in income statement shall be $101,500
Answer:
Is the process of allocating to expense the cost of plant asset.
Explanation:
Depreciation is an expense indicating a decline in the value of the capital assets due to tear and wear, obsolescence, consumption, time span, etc. It's shown on the income statement debit side. It is a non-cash item which has no effect on the cash balance.
Moreover, it is to charged over the specified number of useful life so that proper amount of the depreciation should be recorded in the books of accounts
Answer:
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Daily grinds inventory value = coffee maker with timer value x n units + coffee maker without timer in x n units
where:
coffee maker with timer value = $35000
coffee maker without timer = $10000
n= 5 units each
Daily grinds coffee maker inventory value = ($35000 x 5)+( $10000 x 5)
= $225000
