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
GuDViN [60]
2 years ago
6

Rigney Inc. uses the allowance method to estimate uncollectible accounts receivable. The company produced the following aging of

the accounts receivable at year-end.
Number of Days Outstanding
Total 0–30 31–60 61–90 91–120 Over 120
Accounts receivable 200,000 77,000 46,000 39,000 23,000 $15,000
% uncollectible 1% 4% 5% 8% 20%

Calculate the total estimated bad debts based on the above information.
Business
2 answers:
tankabanditka [31]2 years ago
7 0

Answer:

$9,400

Explanation:

Account receivable,%Uncollectible,Estimated Bad debt

A B C

0–30 $77,000 × 1% = $770

31–60 $46,000 ×4%=$ 1,840

61–90 $39,000 × 5%=$ 1,950

91–120 $23,000 ×8%=$1,840

Over 120 $15,000 ×20%= $3,000

TOTAL $200,000=$ 9,400

The total estimated bad debts based on the information given is $9,400

Note:

Account receivable is A

% Uncollectible is B

Estimated Bad debt is C

Estimated bad debt is A× percentage of B= C

ANEK [815]2 years ago
4 0

Answer:

Total estimated bad debts = $9,400

Explanation:

days outstanding     A/c Receivable    %        estimate

0-30                           $77,000              1           $770

31-60                          $46,000              4         $1,840

61-90                           $39,000              5        $1,950

91-120                          $23,000              8         $1,840

over 120                      $15,000               20       $3,000

Total                            200,000                          $9,400                      

You might be interested in
Assume that you purchased a $1,000 perpetual bond (coupon payment is $50) and the interest rate on that bond declined from 5 per
Svetlanka [38]

Answer:

D) all of the above

Explanation:

First find the present value for each alternative  using PV of perpetual cashflow formula;

PV = CF / rate

CF = 50

If rate= 5%;

PV = 50/0.05 = $1,000

If rate = 2%;

PV = 50/0.02 = $2,500

With these two calculations, we see that;

-the bond price increased by $1,500

-you could sell this bond at a capital gain, meaning you can sell it a higher price that what you bought it for.

-at an interest rate of 2%, the speculative demand for money would increase

Hence , all these choices are correct!

5 0
3 years ago
Parker & stone, inc., is looking at setting up a new manufacturing plant in south park to produce garden tools. the company
Setler [38]

The initial investment is the total amount spent or the amount of cash outflow.

The initial investment here is -

Proper cash flow amount = Cost of land (present cost of land) + Cost of Plant + Cost of Grading

Proper cash flow amount = $ 4,300,000 + $ 11,500,000 + $ 670,000

Proper cash flow amount = $ 16,470,000

4 0
3 years ago
quizlet calaf’s drillers erects and places into service an off-shore oil platform on january 1, 2021, at a cost of $10,000,000.
Nostrana [21]

quizlet calaf’s drillers erects and places into service an off-shore oil platform on january 1, 2021, at a cost of $10,000,000. calaf is legally required to dismantle and remove the platform at the end of its useful life in 10 years. calaf estimates it will cost $1,000,000 to dismantle and remove the platform at the end of its useful life in 10 years. (the fair value at january 1, 2021, of the dismantle and removal costs is $450,000.) prepare the entry to record the asset retirement obligation.

Oil Platform 450,000

Asset Retirement Obligation 450,000

What is  asset retirement obligation?

An asset retirement obligation is a contractual requirement for the retirement of a tangible long-lived asset, the timing of which may depend on the occurrence of a future event outside the control of the entity bearing the obligation.

Therefore,

Oil Platform 450,000

Asset Retirement Obligation 450,000

To learn more about asset retirement obligation from the given link:

brainly.com/question/14298631

4 0
1 year ago
4. List the arrangements that have to be made for holding a meeting:​
Flura [38]
Mins of meeting must to held
Opening prayer
Introduction of last discussion
7 0
3 years ago
Theresa owes $9,000 on her car loan. If the value of her car is $15,000, what is her equity in the car?
pentagon [3]

Answer:

Theresa has $6,000 in equity.

Explanation:

To get this answer, you take the value of her car ($15,000) and subtract the amount that she owes from it ($15,000-$9,000). This gives you $6,000.

Hope this helps!

7 0
3 years ago
Other questions:
  • Here are data on two stocks, both of which have discount rates of 8%: Stock A Stock B Return on equity 8 % 5 % Earnings per shar
    14·1 answer
  • Which loan type requires you to make loan payments while you’re attending school?
    15·1 answer
  • State Street Beverage Company issues​ $805,000 of​ 9%, 10-year bonds on March​ 31, 2017. The bonds pay interest on March 31 and
    15·1 answer
  • Light poles to be paid for in installments by affected property owners$350,000 Van used to transport supplies to all city depart
    14·1 answer
  • Which of the following is true of the Discount on Bonds Payable account? The bonds are due inten years.A) It is subtracted from
    6·1 answer
  • HELP IM TIMED!!!!!!!!!
    11·1 answer
  • Davis Florist has two employees, Anita and Jerome, and two tasks that need to be completed, floral arrangements and floral deliv
    13·1 answer
  • Disadvantage of multiple chain store?​
    14·1 answer
  • Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $12,750 cash an
    5·1 answer
  • According to the small business administration, over 50 percent of all small businesses are home based. true false
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!