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dexar [7]
3 years ago
15

On January 1, 2017, Accounts Receivable and Allowance for Uncollectible Accounts for Darius Company carried balances of $20,000

and $550, respectively. During the year, the company reported $70,000 of credit sales. There were $400 of receivables written off as uncollectible in 2017. Cash collections of receivables amounted to $74,700. The company estimates that it will be unable to collect 5% of the year-end accounts receivable balance. The amount of bad debts expense recognized in the 2017 income statement will be: ________:
(A) $545
(B) $595
(C) $745
(D) $795
Business
1 answer:
kupik [55]3 years ago
8 0

Answer:

(C) $745

Explanation:

The computation is given below:

For computing the bad debt  expense, first we have to determine the ending account receivable balance which is shown below:

Ending account receivable balance = Beginning account receivable + credit sales - collections - written off amount

= $20,000 + $70,000 - $74,700 - $400

= $15,300

So, the bad debt expense is

= Ending account receivable × given percentage

= $15,300 × 5%

= $745

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The actual speed is a few percent lower due to the slip of the asynchronous motor.


The slip increases with the torque, typical values are 5–10%. The rated speed for a four-pole motor at 50Hz will thus be something like 1360 rpm. At no-load, the slip is very small.
5 0
3 years ago
10% of the facility and increase the overall costs of maintaining the space by 11%. If the incremental method were used, what am
xz_007 [3.2K]

Answer:

the  cost that allocated to the start up business is $61,600

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The computation of the amount of the cost that allocated to the start up business is given below:

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3 0
3 years ago
Jimmer’s nominal income will go up by 10 percent next year. Inflation is expected to be – 2 percent next year. By approximately
kompoz [17]

Answer:

Nominal interest rate (n) = 10% = 0.10

Inflation rate (i) = -2% = -0.02  

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(I + n) =   (1 + r)(1 + i)

(1 + 0.10)  = (1 + r)(1 + -0.02)

1.10 = (1 + r)(0.98)

<u>1.10</u> = 1 + r

0.98

1.1224 = 1 + r

1.1224 - 1 = r      

r = 0.1224 = 12.24%

Jimmer's real income will change by 12.24% next year.                                                                                                                                                

                                                                                                                                                                                                                                                                                       

Explanation:

In the determination of the rate of change in real income, there is need          to apply Fisher's equation. The nominal rate and inflation rate have been given, thus, we will make the real rate the subject of the formula.                                                                

3 0
3 years ago
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Len [333]
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Many fish change colors, including several species of gobies and groupers. Color changes may be initiated by changes in mood, temperature, and stress in addition to visible changes in the local environment.
Flounder e.g. Hippoglossina oblonga
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8 0
3 years ago
The following information relates to Sheridan Company for the year 2022.
aliina [53]

Answer:

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Service revenue                            $52,500

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Utilities expense                             ($2,600)

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Advertising expense                      <u> ($1,510)</u>

Net Income                                      <u>$16,130</u>

<u />

b. Computation of comprehensive income statement

Particulars                                            Amount

Net Income                                           $16,130

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Note: Dividend will not be included as it forms part of Income statement

5 0
3 years ago
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