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Vladimir [108]
3 years ago
8

Multiple Choice Question The following selected information pertains to Wilson Company. Current liabilities: $100; long-term lia

bilities: $150; contributed capital: $120; retained earnings: $50; accumulated other comprehensive income: $20. The company's debt to equity ratio (rounded to two digits after the decimal point) is
Business
1 answer:
zzz [600]3 years ago
5 0

Answer:

The debt to equity ratio is 1.32

Explanation:

The computation of the debt to equity ratio is shown below;

Debt to equity ratio is

= Debt ÷ equity

where, Debt is long term + current liabilities

And, the equity is contributed capital + retained earnings + other incomes

= ($100 + $150) ÷ ($120 + $50 + $20)

= $250 ÷ $190

= 1.32

Hence, the debt to equity ratio is 1.32

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Net Zero Products, a wholesaler of sustainable raw materials. Prepared the following aging of receivables analysis.
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a) The balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method is $4,300.

b) Adjusting Entry to record bad debt expense:

Debit Bad Debt Expense $1,700

Credit Allowance for Doubtful Accounts $1,700

To record the bad debt expense for the period and bring the allowance to $4,300 credit balance.

Explanation:

a) Data and Calculations:

Aging of receivables analysis:

Total (days)                          0        1 to 30     31 to 60     61 to 90     above 90

Accounts receivable $171,000   $96,000   $34,000     $15,000     $12,000

Percent uncollectible                      1%            4%                 6%            9%

Allowance for doubtful     0          $960        $1,360         $900        $1,080

Total allowance for doubtful = $4,300 (960 + 1,360 + 900 + 1,080)

b) The adjustment in the Allowance for Doubtful Accounts needed for the current period is $1,700 ($4,300 - $2,600).  This amount will be debited to the Bad Debts Expense account and credited to the Allowance for Doubtful Accounts.  It will bring the total for the Allowance for Doubtful Accounts to $4,300 from $2,600.

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3 years ago
Some policymakers have argued that products like​ cigarettes, alcohol, and sweetened soda generate negative externalities in con
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3 years ago
Which of the following equations is true? Select one: a. Contribution margin = Sales revenue × Variable cost ratio b. Contributi
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Explanation:

The Contribution margin ratio is defined as the difference between the sales price of a good and it's variable costs. It is expressed as a percentage.

The formula is,

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Breaking the formula down further we have,

Contribution Margin Ratio = Sales/ Sales - Variable Costs / Sales

Contribution Margin Ratio = 1 - Variable Costs / Sales

Variable Cost/Sales is the Variable Cost Ratio.

So Option C is correct.

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