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ira [324]
3 years ago
12

using the aging of accounts receivable, Age Old, Inc. estimates that $90000 of its 4000000 of accounts receivable will be uncoll

ectible. Prior to making its adjusting entry, the unadjusted allowance for doutfull accounts has a credit balance of 1000. After the adjustment, Bad Debt Expense on the income statement will be _____ the allowance for doubtful accounts on the balance sheet
Business
1 answer:
DENIUS [597]3 years ago
6 0

Answer:

  $90,000

Explanation:

Bad debts expense is affiliated to a firms' current asset accounts receivable. It is also regarded as the uncollectible or doubtful accounts expense. Bad debts expense arises due to inability of customers to pay for goods or services that was purchased on credit.

The allowance for doubtful accounts on the balance sheet will be $90,000

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Venetian Company has two production departments, Fabricating and Assembling. At a department managers meeting, the controller us
olchik [2.2K]

Answer:

Fabricating Department = $136470=   53000 +total 49100 of $1.7 per direct labor hours

Assembling Department = $$ 90,410= 43000 +total 43100  of $ 1.10 per direct labor hours

Explanation:            

<em>When a fixed line intersects a vertical axis at the point of total budgeted cost line represents total cost of the activity . From this we can calculate the following.</em>

                                                          Fabricating            Assembling

Total Cost for 46100 DLH            $131,370                    $93,710

Fixed Costs                                     (53000)                     (43,000)

Variable Costs                               78370                        50,710

Variable Cost Per hour                78370 / 46100          50,710  / 46100

                                                      = $ 1.7                        = $1.10

                                                    Fabricating            Assembling

Total DLH                                        49100                   43100

Variable Cost Per hour                  $ 1.7                          $1.10

Variable Costs                                $ 83470                 $ 47410

Fixed Costs                                     53000                     43,000

Total Budgeted Cost                      136470                    $ 90,410

6 0
3 years ago
Which feature prevents a company from uilizing the private assets of its shareholders for the payment of its leabiities?​
-Dominant- [34]

Answer: Limited Liability

Explanation: Business owners' liability for debts is restricted to the amount they put into the business.

3 0
3 years ago
Lambert Center began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purc
svetoff [14.1K]

Answer:

Fifo Inventory $665

Moving Average= $ 606

Lifo Inventory $ 592

Explanation:

Purchases                

Date                 Units               Unit Cost             Sales Units     Fifo Inventory

July 1                       13                     $115

<u>July 6                                                                              9              </u>

<u>                                4                      $115                                               $460</u>

July 11                       6                      $122

<u>July 14                                                                               6                            </u>

<u>                                   4                      $122                                             $488</u>

July 21                      7                        $132

<u>July 27                                                                               6                           </u>

<u>                             5                             $ 133                                         </u><u> $665</u>

<u />

Moving Average Method

=   Total Cost of Purchases/ No of items= 13*115 + 6*122+ 7*132/13+6+7

 = 1495+ 732+ 924/26= 3151/26= 121. 192

No of units in the Ending Inventory= 5 * 121.192= $ 605.96

Purchases              

Date                 Units               Unit Cost             Sales Units    Lifo Inventory

July 1                       13                     $115

<u>July 6                                                                              9              </u>

<u>                                4                      $115                                               $460</u>

July 11                       6                      $122

<u>July 14                                                                               6                            </u>

<u>                                   4                      $115                                             $460</u>

July 21                      7                        $132

<u>July 27                                                                               6                           </u>

                              1                          132                                              $132

<u>                             4                            $ 115                                          $460</u>

<u>                             5                                                                       </u><u>       $ 592</u>

6 0
3 years ago
If Barcelona has a core staff of restaurant managers and head chefs and contracts with staffing agencies to fill all other posit
Elden [556K]

Answer:

false

Explanation:

Barcelona has a network structure because it works with staffing agencies to fill many vacant positions.

When a company has a network structure, it works with other companies in order to produce a good or service (outsourcing). In this case, Barcelona outsources some of its human resources functions to other companies.

7 0
3 years ago
Which of the following is a sign of credit trouble?
Aleks04 [339]
The right answer for the question that is being asked and shown above is that: "c. Credit cards are canceled due to poor payment history." a sign of credit trouble is that <span>Credit cards are canceled due to poor payment history.</span>
8 0
3 years ago
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