Answer:
At the end of period the allowance for uncollectible debts will be: 15000-3000 = $ 12000 because 3000 account receivable is written off.
Explanation:
(Opening) Allowance for uncollectible accounts = 3000 (Dr)
During the year company estimates = $ 15000
Entry : Dr Bad debts expense 15000
Cr Allowance for bad debts 15000
( To record uncollectible accounts)
The company's break even points in unit sales is 43,000 units.
Above the actual sales volume of 42,000 units is the break-even point.
<h3>What is Break Even point?</h3>
- In economics, business, and particularly cost accounting, the break-even point is the point at which total cost and total income are equal, or "even."
- Although opportunity costs have been paid and capital has received the risk-adjusted, projected return, there is no net loss or gain, and one has "broken even."
- A graph with a function that represents the fixed costs is also helpful.
- No matter how many units are manufactured, the fixed cost is always 1200, hence the fixed costs function is shown as a horizontal line (FC = 1200).
- Any of the following will raise the break-even point: an increase in the quantity of fixed charges or expenses for the business.
- An increase in variable expenditures and expenses per unit. A drop in the selling prices offered by the company.
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Answer:
Dr. Truck $80,869
CR. Note Payable $80,869
Explanation:
Note issued is a liability instrument. It is a promise of payment f principal amount and interest after a specific period of time. Zero interst interest bearing not does not offer any interest payment but it is issued at a discounted price . Present value of Note payable is the value that should be recognised as a cost of the truck.
Now calculate the present value of the Note.
PV of Zero coupon bond = FV / ( 1 + r )^n
Where
FV = FV maturity value of the note = $118,400
r = Interest rate = 10%
n= numbers of period = 4 years
Placing Values in the formula
PV of Zero coupon bond = $118,400 / ( 1 + 10% )^4
PV of Zero coupon bond = $80,869
Answer:
It allows scientists from disparate regions to use a single standard in communicating scientific data without vocabulary confusion.
Explanation:
