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Kaylis [27]
3 years ago
6

2/31/2020: During 2020, $10,000 in accounts receivable were written off. At the end of the second year of operations, Yolandi Co

mpany had $1,000,000 in sales and accounts receivable of $400,000. XYZ’s management has estimated that 1.5% of sales will be uncollectible. For the end of 2020, after the adjusting entry for bad debts was journalized, what is the balance in the following accounts: Bad debt expense: Allowance for doubtful accounts: For the end of 2020, what is the company's net realizable value?
Business
1 answer:
Artyom0805 [142]3 years ago
6 0

Answer:

$395,000

Explanation:

Bad Debt expense:

= 1.5% of sales will be uncollectible

= 1.5% × $1,000,000

= 0.015 × $1,000,000

= $15,000

Allowance for Doubtful accounts:

= Bad Debt expense - accounts receivable written off

= $15,000 - $10,000

= $5,000

Net realizable value:

= Accounts receivable - Allowance for Doubtful accounts

= $400,000 - $5,000

= $395,000

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6 0
3 years ago
There are two parties in any lease contract—the lessee and the lessor. To a lessor, a lease analysis involves a capital budgetin
inn [45]

Answer:

a, b

Explanation:

It is important to note that a lessor's goal is to make a profit, thus he would be more concerned about knowing what is the value realized after subtracting the lease payments from his income taxes and any maintenance expenses that must be incurred as per the lease agreement.

In order to be cost efficient, he might as well determine the net cash outlay of the lease agreement.

4 0
3 years ago
Luis has $170,000 in his retirement account at his present company. Because he is assuming a position with another company, Luis
serious [3.7K]

Answer:

Luis will have $ 1,153,675.657524 in his account at the time of his retirement.

Explanation:

Acording to the data Luis has $170,000 in his retirement account

His current account after 30 years at 4.5% compounded quarterly will be

Current account = $ 170,000(1 + (0.045/4))^(4*30)

Current account = $ 650,838.260724

Acording to the data Luis also plans to put $2000/quarter into the new account until his retirement 30 years from now.

The future value (FV) of the account will be

FV = 2000[(1 + (0.045/4))^(4*30) -1] / (0.045/4)  0.01125

FV = $ 502,837.3968

Therefore, to calculate how much will Luis have in his account at the time of his retirement we have to calculate the following:

Total amount = Current account+FV

Total amount = $ 650,838.260724 +  $ 502,837.3968

Total amount = $ 1,153,675.657524

Luis will have $ 1,153,675.657524 in his account at the time of his retirement.

4 0
3 years ago
Who wants points answer in this question points for 10 points ;)
SpyIntel [72]

Answer:

OK Thanks for the free points

4 0
2 years ago
Read 2 more answers
2. Explain how advertising and sales practices fed consumer demand during the late 1800s. What were the specific tactics used
erik [133]

Answer with its Explanation:

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The designing of copying and opting to art was very common in those days which was adopted to attract key customers and placement of the advertisements in a specific place which would result in higher sales was also common to attract customer attention.

The telephone was invented in 1876, but still telemarketing started in 1970s. So the primary source of advertising and sales promotions was either by newspaper and magazines or face to face selling.

8 0
3 years ago
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