Bad debt expenses 800
Allowance for doubtful account 800
Allowance for doubtful accounts 60
Accounts receivable 60
Allowance for doubtful accounts 75
Accounts receivable 75
Accounts receivable 45
Allowance for doubtful accounts 45
Allowance for doubtful accounts 100
Accounts receivable 100
Accounts receivable 25
Allowance for doubtful accounts 25
Hope it helps!
C: The higher the risk on the investments the higher the pay out is.
Answer:
Particulars Amount
Sales $955,000
Less: Fixed cost of goods sold $111,000
Less: Variable cost of goods sold <u>$261,000</u>
Gross Profit $583,000
Less: Fixed selling & admin. costs $111,000
Less: Var. selling & admin. costs <u>$136,000</u>
Operating Income <u>$336,000</u>
Answer:
the expected rate of return of the junk bond = 17%
Explanation:
the expected rate of return of the junk bond = (return if the company makes a profit x probability of the company making a profit) + (return if the company makes goes bankrupt x probability of the company going bankrupt) + (return if the company breaks even x probability of the company breaking even)
the expected rate of return of the junk bond = (40% x 0.3) + (0 x 0.2) + (10% x 0.5) = 12% + 0 + 5% = 17%
Answer:
Dr. Cost of goods Sold $850,300
Cr. Finished goods Inventory $850,300
Explanation:
Goods available to sale is the sum to Beginning Inventory and the production / Purchases for the period.
Finished goods Available for sale = Beginning Inventory of Finished goods + Production in the period
Finished goods Available for sale = $171,500 + $848,000 = $1,019,500
Cost of Goods sold is the cost of the unit sold which is incurred to produce / purchase that products. It is calculated by deducting the ending inventory from goods available to sale.
Cost of finished goods sold = Finished goods Available for sale - Ending Inventory of finished goods = $1,019,500 - $169,200 = $850,300