1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
maxonik [38]
2 years ago
7

Roth Service Co. experienced the following transactions for 2018, its first year of operations: Provided $82,000 of services on

account. Collected $52,700 cash from accounts receivable. Paid $26,000 of salaries expense for the year. Roth adjusted the accounts using the following information from an accounts receivable aging schedule:
Number of Days Amount % Likely to Be Uncollectible Allowance Balance
Current $9,500 0.01
0-30 4,000 0.05
31-60 2,500 0.10
61-90 2,000 0.30
Over 90 days 3,000 0.50
Required

(a) Organize the information in accounts under an accounting equation.
(b) Prepare an income statement for Roth Service Co. for 2018.
Business
1 answer:
frosja888 [35]2 years ago
5 0

please find the attached for the answer

Download docx
You might be interested in
Olsen Company uses a standard cost system for its production process. Olsen Company applies overhead based on direct labor hours
Digiron [165]

Answer:

1800

Explanation:

5 0
3 years ago
Oriole Company has a balance in its Accounts Payable control account of $8,170 on January 1, 2020. The subsidiary ledger contain
dem82 [27]

Complete question:

Oriole Company has a balance in its Accounts Payable control account of $8,170 on January 1, 2020. The subsidiary ledger contains three accounts: Hale Company, balance $2,550; Janish Company, balance $1,580; and Valdez Company. During January, the following payable-related transactions occurred.

Purchases Payments Returns  

Hale Company $6,529 $5,972 $ -0-  

Janish Company   5,066   2,087 2,215  

Valdez Company   6,647   6,790   -0-

What is the January 1 balance in the Freeze Company subsidiary account?

What is the January 31 balance in the control account?

Balances in the subsidiary accounts Bixler $ Cuddyer $ Freeze$

Which January transaction would not be recorded in a special journal?

Solution:

What is the January 1 balance in the Freeze Company subsidiary account?

8,170 - 2,550 - 1,580 = 4040

What is the January 31 balance in the control account?

8,170 + 6,529 + 5,066 + 6,647 - 5,972 - 2,087 - 6,790 - 2,215 = 1,995

Compute the balances in the subsidiary accounts at the end of the month.  

Hale 2,550 + 6,529 - 5,972 = 3,107

Janish 1,580 + 5,066 - 2,087 - 2,215 = 2,344

Valdez 4040 + 6,647 - 6,790 = 3,897

Which January transaction would not be recorded in a special journal?

Returns Purchases Payments

The purchase return for Brown of $2,215

6 0
3 years ago
Other things equal, an increase in a consumer's money income:_________
madam [21]

Answer:

B. shifts the individual's budget line rightward because she can now purchase more of both products

Explanation:

When there is an increase in the budget line of a consumer, it means that there is an expansion in this consumers consumption possibilities.

The consumers budget line will then shift rightward or upwards. With this increase the consumer can purchase more of both goods. The outward shift indicates increase.

Therefore the answer to the question is option B.

5 0
2 years ago
How do world population and market statistics support the expansion of u.s. businesses into global markets?
ratelena [41]
<span>Countries with fast-grouwing populations have a large pool of workers for businesses to tap. These countries will be looking for businesses to invest in their areas, employing people and letting them produce goods and services that will bring dollars into the local economies, strengthening them and allowing the countries to catch up with other nations.</span>
8 0
3 years ago
A microeconomist wants to determine how corporate sales are influenced by capital and wage spending by companies. She proceeds t
Leto [7]

Answer:  option b

 

Explanation: In simple words, collinearity refers to the condition under which some of the Independent variables in the model are related to each other. This  international between independents variables can result into incorrect results while fitting the model.

Therefore, collinearity causes problem as the analyst prepares a model on the basis that there will be two inputs one is dependent another is independent but due to this phenomenon the  expected input structure collides.

Hence from the above we can conclude that the economist should be concerned with col linearity.

5 0
3 years ago
Other questions:
  • Which of the following variances cannot occur together during the same accounting period? Multiple Choice Unfavorable labor rate
    15·1 answer
  • A company uses the following standard costs to produce a single unit of output. Direct materials 7 pounds at $0.60 per pound = $
    14·1 answer
  • An organization's critical application is required to be continuously available, with only a few minutes' per month of downtime
    13·1 answer
  • Tell me about one of your most passionate beliefs and explain how it has an impact on the way you think, behave, attend events,
    15·1 answer
  • What do the income effect, the substitution effect, and diminishing marginal utility have in common?
    15·1 answer
  • Spring is here, and Ginny and her uncle would like to go fishing for the weekend in New Hampshire. Ginny could either go to the
    5·1 answer
  • What is the most common threat to information security in an organization??
    8·1 answer
  • World Company expects to operate at 80% of its productive capacity of 50,000 units per month. At this planned level, the company
    9·1 answer
  • The Gecko Company and the Gordon Company are two firms whose business risk is the same but that have different dividend policies
    14·1 answer
  • When overhead is underapplied, a _____ must be made to the Manufacturing overhead account to close it out. Multiple choice quest
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!