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Kitty [74]
3 years ago
13

As of January 1, 2021, Barley Co. had a credit balance of $521,000 in its allowance for uncollectible accounts. Based on experie

nce, 1% of Barley's gross accounts receivable have been uncollectible. During 2021, Barley wrote off $651,000 of accounts receivable. Barley's gross accounts receivable as December 31, 2021 is $18,050,000.
In its December 31, 2021, balance sheet, what amount should Farley report as allowance for uncollectible accounts?
Business
1 answer:
SSSSS [86.1K]3 years ago
4 0

Answer:

The amount which is should be reported as an allowance for uncollectible accounts is $180,500

Explanation:

The amount for allowance for uncollectible accounts on December 31, 2021 is computed as:

Allowance for uncollectible = Gross Accounts Receivable × Percentage of uncollectible

where

gross accounts receivable amounts to $18,050,000

Percentage of uncollectible is 1%

Putting the values:

=  $18,050,000 × 1%

= $180,500

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Hoi Chong Transport, Ltd. Operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven
Ede4ka [16]

Answer:

The total cost will be "$1,279,286.25".

Explanation:

The total cost at 125000 Km will be:

=125000\times  12.520

=1,565,000 ($)

The total cost at 90000 Km will be:

=90000\times 16.5

=1,485,000 ($)

The variable cost will be:

=\frac{(1,565,000 - 1,485,000)}{(125000 -90000) }

=2.28571 ($)

Now,

Fixed cost = Total \ cost -variable \ c ost

                  = 1,565,000 - 125000\times 2.28571

                  = 1,279,286.25 ($)

5 0
3 years ago
A bank has $50 million in assets, $47 million in liabilities and $3 million in shareholders' equity. If the duration of its liab
Alisiya [41]

Answer: 1.222

Explanation:

The Average duration can be derived from the formula:

Assets * Average Duration = Liabilities * Duration of Liabilities

Average Duration = (Liabilities * Duration of Liabilities) / Assets

= (47,000,000 * 1.3) / 50,000,000

= 61,100,000 / 50,000,000

= 1.222

5 0
2 years ago
What are the important long-term issues relevant for managing capacity, revenue, and customer satisfaction for southwest airline
ale4655 [162]

Some long-time period problems applicable for dealing with ability, revenue, and patron satisfaction for Southwest airways includes right usage of the corporation’s fleet of airplanes.

This is a applicable difficulty as it directly influences capability, sales, and customer pride if planes are not being properly applied. For example, all three of these factors will lower if half of Southwest’s fleet became grounded and flights had to be cancelled, or all three factors could growth if the whole fleet turned into being utilized to its fullest extent. Some other lengthy-term issue this is relevant to these three factors is turnaround time at Southwest gates, due to the fact as we found out, as low as a sixty second postpone can create a decrease in capability, sales and patron delight.

Learn more about Southwest airways here:- brainly.com/question/27802425

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7 0
1 year ago
In a economy, the government owns the means of production.
Daniel [21]

Answer:

(a) Command

Explanation:

A command economy is also known as planned economy and it can be defined as a type of economy in which the government owns and control the means of production.

This ultimately implies that, in a command economy, the government owns the means of production.

Societies that operate a command economy generally practices communism.

Communism is a system of philosophical, political, social organization and economical ideologies that advocates the elimination of private property but a profit-based economy with public ownership of the means of production.

It ultimately aims to ensure each person contributes and receives according to their abilities and needs.

Vietnam, China and Cuba are examples of communist countries that operate a command economy.

In conclusion, a command economy requires that the method of exchange, distribution, as well as the means of production of goods and services and allocation of resources for production should be controlled or regulated by the public (government) rather than the private sector.

5 0
2 years ago
The Carlberg Company has two manufacturing departments, assembly and painting. The assembly department started 10,000 units duri
alexandr402 [8]

Answer:

Equivalent units

Materials              10,200

Covnersion Cost   9, 100

Explanation:

\left[\begin{array}{cccc}&$Physical Units&$Materials&$Conversion\\$Beginning&2,000&0.6&0.4\\$Transferred out&9,000&&\\$Ending&3,000&0.8&0.3\\$Equivalent Units&&10,200&9,100\\\end{array}\right]

The equivalent units will be calcualte as follow:

 transferred out

 ending x completion

<u>  (beginning x completion)  </u>

Equivalent units

<u>Materials</u>

9,000 + 3,000 x 80% - 2,000 x 60% = 10,200

<u>Conversion Cost</u>

9,000 + 3,000 x 30% - 2,000 x 40% = 9,100

5 0
3 years ago
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