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il63 [147K]
3 years ago
9

An analysis and aging of the accounts receivable of Hugh Company at December 31 revealed the following data: Accounts Receivable

$900000 Allowance for Doubtful Accounts per books before adjustment (Cr.) 50000 Amounts expected to become uncollectible 56000 The cash realizable value of the accounts receivable at December 31, after adjustment, is:
Business
1 answer:
Hitman42 [59]3 years ago
4 0

Answer:

$844,000

Explanation:

Given that,

Accounts Receivable = $900,000

Credit balance of Allowance for Doubtful Accounts per books before adjustment = $50,000

Expected amount of uncollectible = $56,000

Bad debt expense at the end of the period is determined by subtracting the credit balance of allowance for doubtful accounts from the expected amount of uncollectible.

Bad debt expense:

= Expected amount of uncollectible - Credit balance

= $56,000 - $50,000

= $6,000

At the end of the period, the allowance for doubtful accounts has a balance of $56,000 that are to be uncollectible.

The cash realizable value of the accounts receivable at December 31, after adjustment, is determined by simply subtracting the Allowance for doubtful accounts  from the accounts receivable. It is calculated as follows:

= Accounts Receivable - Allowance for doubtful accounts

= $900,000 - $56,000

= $844,000

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Kogler Corporation's relevant range of activity is 7,000 units to 11,000 units. When it produces and sells 9,000 units, its aver
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Answer:

$12.45

Explanation:

Calculation to determine what the contribution margin per unit sold is closest to:

First step is to calculate the Variable cost per unit using this formula

Variable cost per unit = Direct materials per unit + Direct labor per unit + Variable manufacturing overhead per unit + Sales commissions per unit + Variable administrative expense per unit

Let plug in the formula

Variable cost per unit = $5.15 + $5.30 + $1.95 + $0.60 + $0.55

Variable cost per unit = $13.55

Now let determine the Contribution margin per unit using this formula

Contribution margin per unit = Selling price per unit - Variable cost per unit

Let plug in the formula

Contribution margin per unit = $26.00 - $13.55

Contribution margin per unit = $12.45

Therefore the contribution margin per unit sold is closest to:$12.45

4 0
3 years ago
Economists use price indices to remove _______ from price measurements.
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The answer is C. Inflation

Price indices are a normalized average of price relatives for a given types of products ( either goods or services) in a specific region, during specific interval of time

It's provided a statistic that is designed to compare the prices while separating the inflation as a factor
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3 years ago
The forecast for your company’s headquarters predicts the area hit head on by a hurricane,. The company sends you to their cold
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Answer:

The correct answer is <em>The site will have all of the company’s applications.</em>

Explanation:

It is the only way to ensure a minimum or zero level of inactivity, because otherwise people will not have the necessary tools to execute their work.

It is hardly obvious that due to the nature of the tasks it is impossible to try to adapt a space that is not adequate to execute them, since the conditions must be the necessary ones to guarantee it.

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Answer:

Sold first - June 1 at $10

Sold first - June 2 at $15

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Explanation:

In the FIFO Method, when the first product is acquired it is sold first or dispose of.  

In the given question, one identical unit is purchased on three dates, and the company sold two units  

So, the selling units would be  

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3 years ago
Read 2 more answers
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