Answer:
Estimated Bad Debts = $ 9600
Explanation:
<u>Libre, Inc. </u>
Accounts Receivable $121,000
Allowance for Doubtful Accounts un adjusted $1,550 Credit
Net credit sales $192,000
The percentage of credit sales method, what is the estimated Bad Debt Expense for the year= 5% of $192,000 = $ 9600
Unadjusted balance Allowance for Doubtful Accounts $1,550 Credit
Less Current Year Bad Debts Balance = $ 9600
Adjustment= $ 8050
When using the percent of sales method the estimate of bad debts is the percentage multiplied with the credit sales .
Estimated Bad Debts = $ 9600
Answer:
B.check with a credit and information management company
Answer:D
Explanation: Can not always. A fact is evidence.
The types of companies that make particularly attractive acquisition targets would be financially distressed companies with good turnaround potential, undervalued companies that can be acquired at a bargain price, and companies that have bright growth prospects but are short on investment capital.
Acquisition Target
Target acquisition is the detection and identification of a target's position in sufficient detail to allow the efficient use of lethal and non-lethal measures. The phrase refers to a wide range of uses.
A "target" is an entity or object that is being considered for possible engagement or other action (see Targeting). Targets include mobile and stationary units, forces, equipment, capabilities, facilities, people, and functions that an enemy commander can utilise to execute operations. It could include things like target acquisition, joint targeting, or information operations.
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Answer:
Determine the inventory cost and the cost of merchandise sold by three methods.
FIFO Cost of Merchandise Inventory $10820 Cost of Merchandise Sold $14440
LIFO Cost of Merchandise Inventory $9420 Cost of Merchandise Sold $15840
WAC Cost of Merchandise Inventory $10104 Cost of Merchandise Sold $15156
Explanation:
Jan-1 50 114
¨Mar-10 60 124
Aug-30 20 130
Dec-12 70 136
Purchases 200
Final Inventory 80
Sell units 120
FIFO Purch.Unit cost Sell U. Cost F. inv. Final Inv.cost
Jan-1 50 114 50 5700 0 0
¨Mar-10 60 124 60 7440 0 0
Aug-30 20 130 10 1300 10 1300
Dec-12 70 136 70 9520
120 14440 80 10820
LIFO Purch Unit cost Sell U. Cost Final inv. Final Inv.cost
Jan-1 50 114 0 0 50 5700
¨Mar-10 60 124 30 3720 30 3720
Aug-30 20 130 20 2600 0 0
Dec-12 70 136 70 9520 0 0
120 15840 80 9420
Weigth Average cost Unit Unit/cost Cost Cost Inv.cost
Jan-1 50 114 5700
¨Mar-10 60 124 7440
110 119,4 13140
Aug-30 20 130 2600
130 121,0 15740
Dec-12 70 136 9520
200 126,3 25260 120 15156 10104
