Answer:
The estimated Bad Debt Expense for the period is $13,600
Explanation:
Quill Industries estimates of uncollectible receivables resulting from the aging analysis equals $20,000. The company uses the aging of accounts receivable method and the Allowance for Doubtful Accounts has credit balance of $6,400 before adjusting.
Bad debt Expense = $20,000 - $6,400 = $13,600
The entry:
Debit Bad debts expense $13,600
Credit Allowance for doubtful accounts $13,600
A vessel operator must report the accident if the property damage exceed $2,000.00. The other conditions which require a vessel operator to report an accident are death or disappearance of a person and an injury which requires more than first aids treatment. Failure to render assistance to those people injured during an accident and failure to report the accident when necessary are both criminal offences.
Answer:
a
Explanation:
bc interest rates have a negative correlation their for they will shift off
Answer:
EZ Wheels Corporation's warranty expense for 2017 is $31.80 million.
Explanation:
EZ Wheels Corporation's warranty expense for 2017 can be calculated using the following formula:
Warranty expense for 2017 = Net sale for 2017 * Percentage sales returned under warranty * Percentage of retail value for cost of repairing and or replacing goods under warranty ................. (1)
Where:
Net sale for 2017 = $5,300 million
Percentage sales returned under warranty = 3%
Percentage of retail value for cost of repairing and or replacing goods under warranty = 20%
Substituting the values into equation (1), we have:
Warranty expense for 2017 = $5,300 million * 3% * 20% = $31.80 million
Therefore, EZ Wheels Corporation's warranty expense for 2017 is $31.80 million.
Answer:
financial advantage: $3 per unit on average
Explanation:
total production cost $22
- Direct materials $8
- Direct labor $7
- Variable manufacturing overhead $1
- Fixed manufacturing overhead $6
outside supplier offered 7,000 units at $16 per unit
50% of fixed costs can be eliminated
produce the item purchase the item
units 7,000 7,000
purchase price $112,000
production cost $154,000
<u>unavoidable costs $21,000 </u>
total $154,000 $133,000
net savings $21,000
savings per unit $3