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Salsk061 [2.6K]
3 years ago
6

Below is the aging of receivables schedule for Evers Industries. Aging-of-Receivables Schedule November 30 Customer Balance Not

Past Due 1-30 Days Past Due 31-60 Days Past Due 61-90 Days Past Due Over 90 Days Past Due Subtotals 553,600 326,600 121,800 49,800 27,700 27,700 Boyd Industries 12,600 12,600 Hodges Company 18,600 18,600 Kent Creek Inc. 6,600 6,600 Lockwood Company 12,300 12,300 Van Epps Company 30,100 30,100 Totals 633,800 356,700 134,100 56,400 46,300 40,300 Percentage uncollectible 1% 5% 25% 35% 50% Allowance for Doubtful Accounts 60,727 3,567 6,705 14,100 16,205 20,150 Assume that the allowance for doubtful accounts for Evers Industries has a credit balance of $ 12,755 before adjustment on July 31. Journalize the adjusting entry for uncollectible accounts as of July 31. July 31
Business
1 answer:
Murrr4er [49]3 years ago
5 0

Answer:

uncollectible ammount expense 47,972 debit

            allowance for doubtful account    47,972 credit

Explanation:

Fro mthe talbe we are given the amount of account over-time fro meach customer.

As we are presented with all date we should proceed directly with the journal entry:

the aging method stated an allowance of       60,727

the current balance is for                            <u>     (12,755)   </u>

the adjustment will be for:                         <em>       47,972 </em>

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Pablo Company has budgeted production for next year as follows:QuarterFirst Second Third FourthProduction in units 48,000 88,000
Margaret [11]

Answer:

271,500 pounds

Explanation:

Given:

Quarter                               FIRST      SECOND     THIRD     FOURTH

Production in unit                  48000     88000        98000      78000

Raw material per unit               3               3                 3                 3

=================================================================

Thus,

Need for material  = Production in unit × Raw material per unit

=================================================================

Quarter                                         FIRST      SECOND     THIRD     FOURTH

Need for material in production  144,000   264,000     294,000     234,000

Desired ending inventory = 25% of next quarter's production needs for material

==================================================================

ADD:

Desired ending inventory             66000       73500      58500  

==================================================================

Total need of material = Need for material in production + Desired ending inventory

==================================================================

Quarter                               FIRST      SECOND     THIRD      FOURTH

Total need of material =       210,000    337,500     352,500  

Beginning inventory             38000  66000       73500  

==================================================================

Total purchase = Total need of material - Beginning inventory

==================================================================

Quarter                               FIRST      SECOND     THIRD      FOURTH

Total purchase =                   172,000     271,500      279,000

Hence,

The answer is  271,500 pounds

5 0
3 years ago
A stock currently sells for $25 per share and pays $0.24 per year in dividends. What is an investor's valuation of this stock if
Kisachek [45]

Answer:

B) $26.30

Explanation:

To determine an investor's valuation of the stock we must calculate the present value of next year's dividend and selling price:

present value = [dividend / (1 + rate)] + [selling price / (1 + rate)]

present value = [$0.24 / (1 + 15%)] + [$30 / (1 + 15%)] = $0.21 + $26.09 = $26.30

4 0
2 years ago
The pricing function is an integral part of the companies :
ozzi

Answer:

Yes

Explanation:

Pricing plays an essential role for a product and organisation. At a very basic level, an organisation exists to make profit. A price must cover the cost of a good sold.

Pricing also plays a role in the perception of a product (marketing mix). For example, an Apple product is not cheap because of some perceived value of the product.

Another reason why pricing is integral is in times of competition, it may be worthwhile to use price to take market share from competitors.

8 0
3 years ago
Pinder co. produces and sells high-quality video equipment. to finance its operations, pinder co. issued $25,000,000 of five-yea
harina [27]

$23,021,820.82 is the correct answer. It is the present value of the future maturity value and the $875,000 interest payments, discounted at 4.5%.

First calculate the amount of each interest payment = 25000000*7%/2 = 875000<span>
<span>Calculate periodic market interest rate = 9%/2 = 4.5%</span></span>

4 0
2 years ago
Who are decision makers within organizations? (Check all that apply.)
dedylja [7]

Answer: Consultants

Explanation: They give their ideas and the company works according to that. If the company managers take decisions that suits them the employees and owners will adhere but the consultants might turn it down which affects the company immensely.

6 0
3 years ago
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