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Licemer1 [7]
3 years ago
13

Manley operates a law practice on the accrual method and calendar year. at the beginning of the year manley's firm had an allowa

nce for doubtful accounts with a balance of $15,000. at the end of the year, manley recorded bad debt expense of $23,000 and the balance of doubtful accounts had increased to $18,000. what is manley's deduction for bad debt expense this year?
Business
1 answer:
vazorg [7]3 years ago
4 0

The bad debts expense signifies the straight write off of the bad accounts which is the $20,000 along with an increase in the allowance which is an approximation of the bad accounts to be written off in the future which is the $3,000. The growth in the allowance account cannot be subtracted.

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Answer:

A. Reject (Alternative 1) $0

Accept (Alternative 2) -$815,584

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C.$115.69

Explanation:

a. Preparation of a differential analysis dated January 21

DIFFERENTIAL ANALYSIS

Reject (Alternative 1) Accept (Alternative 2) Differential effect Income (Alternative 2)

Revenues $0 $1,613,850 $1,613,850

(21,000 tires × $76.85 per tire)

Costs:

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Direct labor 0 –$504,000 $504,000

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Variable factory overhead 0 –$312,480 $312,480

[21,000 tires × ($24 per tire × 62%)]

Variable selling and admin.

expenses 0 –$152,880 $152,880

21,000 tires × [(25 per tire × 44%) – ($93 × 4%)]

Shipping costs 0 –$160,650 $160,650

(21,000 tires × $7.65 per tire)

Certification costs 0 –$165,424 –$165,424

Income (Loss) $0 -$815,584 -$815,584

B. Based on the above Differentials analysis Brightstone should REJECT the special order from Euro Motors.

C. Calculation to determine minimum price per unit that would be financially acceptable to Brightstone

Minimum price per unit =$76.85-(-$815,584/21,000)

Minimum price per unit =$76.85-(-$38.84)

Minimum price per unit=$115.69

Therefore minimum price per unit that would be financially acceptable to Brightstone is $115.69

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