Answer and Explanation:
The journal entries are shown below:
On December 31
Bad debt expense Dr $5,232 ($654,000 × 0.80%)
To Allowance for doubtful debts $5,232
(To record the bad debt expense)
On Feb 01
Allowance for doubtful debts Dr $327
To Account receivable $327
(To record the uncollectible amount)
On June 5
Account receivable $327
To Allowance for doubtful debts Dr $327
(To record the uncollectible amount)
On June 5
Cash Dr $327
To Account receivable $327
(To record the cash received)
<span>Role
Role expectations is what we are expected to do based on certain assigned role. This is taken from the social and psychological concept of Role Theory. Which says each thing we do is according to specific roles that have already been carved out and we act out according to the expectations of such role for example the duties and obligations of a wife to a husband or that of a father to his children</span>
The selling price per hat is mathematically given as
S=$62
<h3>What is the selling price per hat?</h3>
Compensation of Workers =20hr*60$/hour = $1200
Assorted Direct Expenditures =100hats*19$/hat = $1900
Hence,Total Direct cost. = $1200+$1900
Total Direct cost.= $3100
The selling price is 200% of the Direct production cost
$3100*200% = $6200
The selling price per hat = $6200 / 100hats
The selling price per hat = $62
In conclusion, The selling price per hat = is $62
Read more about the selling price
at brainly.com/question/28017453
#SPJ1
Answer:
c. $50,000.
Explanation:
Depreciation: The depreciation is a non-cash expense that shows a reduction in the value of the fixed assets due to tear and wear, obsolesce, usage, time period, etc. It is shown on the debit side of the income statement.
The computation of the depreciation expense under the straight line method is shown below:
= (Original cost - expected salvage value) ÷ (estimated life of the equipment)
= ($360,000 - $60,000) ÷ (6 years)
= ($300,000) ÷ (6 years)
= $50,000
In this method, the depreciation is same for all the remaining useful life
