Answer:
$50,000
Explanation:
Since Tinsel Co.’s balances in allowance for credit losses were $70,000 at the beginning of the current year and $55,000 at year end.
If during the year, receivables of $35,000 were written off as uncollectible, the amount that Tinsel should report as credit loss expense at year end is $50,000 and this is derived by
Opening balance .................................... 70,000
Add: Receivables written off .............. .35,000
less: Closing balance .............................<u>(55,000)</u>
= Amount of credit loss for the year - <u>50,000</u>
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Answer: COGNITIVE DISSONANCE
Explanation: Cognitive dissonance refers to a mental state in which a person holds two or more values or beliefs that are contradicting with each other. Such individuals changes their values according to the situation.
In the given case, Anna Jonas strongly believes that rights of workers should be supported but when her firm got into distress she herself violated them.
Hence from the above we can conclude that she is most likely be experiencing cognitive dissonance.
Answer:
$79,039
Explanation:
A Bank Reconciliation Statement is used to determine the true cash balance
<u>Bank Reconciliation Statement as as June 30 </u>
Balance as per Bank Statement $81,500
Add Outstanding Lodgments $3,150
Less Unpresented Checks ($5,611)
Balance as per Cash Book $79,039
Therefore, the true cash balance as of June 30 is $79,039
Answer:
$13400
Explanation:
<u>Workings</u>
Unit of of production
Direct materials - 3.10
Direct labor - 7.70
Variable manufacturing overhead - 8.2
Supervisor's salary - 3.6
Depreciation - 2.00
Allocated general overhead 7.20
Total cost - 31.8
Cost per year = 31.8*14000
445,200
Cost of buying = 25.50
Allocated general overhead - 7.20
Total cost =32.7
Annual cost 32.7*14000 = 457800
Annual opportunity cost of internal production = 26,000
The overall advantage of buying = 26000 - (457800-445200)
= 13,400