Answer:
The effect the entry to recognize the uncollectible accounts expense for Year 2 will have on the elements of the financial statements are that it will reduce Accounts Receivable to $15,560 and the Allowance for Doubtful Accounts to $1,900 at the end of Year 2.
Explanation:
Credit sales estimated to be uncollectable = Credit sales * Estimated percentage uncollectable = $215,000 * 1% = $2,150
Ending account receivable = Beginning accounts receivable + Credit sales - Cash collected - Receivales written off as uncollectable - Credit sales estimated to be uncollectable = $76,000 + $215,000 - $271,100 - $2,100 - $2,150 = $15,560
Ending Allowance for Doubtful Accounts = Beginning Allowance for Doubtful Accounts - Allowance for Doubtful Accounts - Receivales written off as uncollectable = $4,000 - $2,100 = $1,900
Therefore, the effect the entry to recognize the uncollectible accounts expense for Year 2 will have on the elements of the financial statements are that it will reduce Accounts Receivable to $15,560 and the Allowance for Doubtful Accounts to $1,900 at the end of Year 2.
Answer:
You didn’t provide a list so I came up with possible answers.
Choreographer
Writer
Actor/Actress
Director
Answer:
a
) <em>The basis per share of the 25 shares of Roberto Corporation stock.</em>
Basis of stock now distributes over 125 shares. Existing basis is $8,000.
Basis of 125 shares = 8,000
Basis of 25 shares = 25 X 8000/125
= 1,600
b) <em>The new basis per share of the original 100 shares of Roberto Corporation stock.</em>
Basis of 100 shares = 100 X 8,000/125
= 6,400
Explanation:
For a company-wide layoff, I would most likely chose face-to-face communication. This is because the news is sensitive, and would most likely upset a lot of people. If this could be explained individually, I would chose so. Otherwise, I would gather people for a conference where I explain such a situation.
A company picnic is not as serious, so I would communicate this through email or a newsletter. Finally, for a change in how people perform their tasks, I would require each supervisor to explain all the details carefully to each person and guide them through the transition.
If I wanted to communicate nonverbally with my team, I would try to be present as much as possible. Moreover, I would also listen carefully to their complaints and suggestions.
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
During the year, Allyson manufactured 90,000 jet skis. Finished goods inventory had the following units:
January 1: 18,000
December 31: 18,000
A) We need to use the following formula:
Units sold= beginning inventory + production - ending inventory
Units sold= 18,000 + 90,000 - 18,000= 90,000 units
B) Unitary cost= $2,600
Cost of goods sold= sold units* unitary cost
COGS= 90,000*2,600= $234,000,000