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suter [353]
4 years ago
14

The following information pertains to Tara Co.’s accounts receivable at December 31, Year 2: Days Estimated Outstanding Amount %

Uncollectible 0 - 60 $120,000 1% 61 - 20 90,000 2% Over 120 100,000 6% $310,000 During Year 2, Tara wrote off $7,000 in receivables and recovered $4,000 that was written off in prior years. Tara’s December 31, Year 1, allowance for uncollectible accounts was $22,000. Under the aging method, what amount of allowance for uncollectible accounts should Tara report at December 31, Year 2?
Business
1 answer:
CaHeK987 [17]4 years ago
5 0
Can you dm me for the answer I’m not home rn I’m trying to help out a lot of people
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Concord Company gathered the following reconciling information in preparing its August bank reconciliation: Cash balance per boo
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Answer:

C. $23,950

Explanation:

Given the above information, the adjusted cash book balance is computed as:

Adjusted cash balance per books = Cash opening + Collection by bank - Bank charge check printing - NSF check

= $20,200 + $4,880 - $130 - $1,000

= $23,950

Therefore, the adjusted cash balance per books on August 31 is $23,950

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3 years ago
Jason's Outdoors manufactures two products: snow skis and water skis. Jason's managerial accountant suspects that product cost d
Ainat [17]

Answer:

Jason's accountant should consider a single plantwide rate to correct the problem.

Explanation:

If a company manufactures products that consume factory overhead costs in different ways, a single plantwide rate may not accurately allocate factory overhead costs to the products and cause cost distortions. Cost distortions can cause companies to lose sales and make incorrect decisions on expanding production.

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3 years ago
Once a company has located several vendors, the next step in the purchasing process is to
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3 years ago
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Making counterfeit copies of Gucci purses, Tommy Hilfiger sportswear, and other international brands is pervasive in some countr
Arlecino [84]

Correct question: Making counterfeit copies of Gucci purses, Tommy Hilfiger sportswear, and other international brands

is pervasive in China because laws protecting intellectual property are unclear and sporadically enforced. Even when sanctions are applied, sanctions are minimal, typically consisting of confiscation, a warning, a public apology, and perhaps a fine. Moreover, copying enjoys a long tradition in China and does not carry a stigma. A business introducing a product into China needs to know that its ___________ may lead to trademark infringements.

A. religious precepts

B. antecedent states

C. moral idealism

D. societal culture and norms

E. utilitarianism

Answer:

D, societal culture and norms.

Explanation:

because copying doesn't exactly have a law forbiding it but rather that it is seen as a form of art in china, the societal culture and norms of china makes it a normal for any new business coming into the country to resigns its fate to having copies of its products flooding the chinese market as soon as possible and such company can't sue for intellectual or copyright infringements.

6 0
3 years ago
If $800 is borrowed at 8% interest, find the amounts due at the end of 4 years if the interest is compounded as follows. (Round
Alisiya [41]

Answer:

(i) $133.12

(ii) $297.6

(iii) $300.8

(iv) $301.6

Explanation:

From the compounding formula;

Future value = Present value (1+\frac{r}{m}) ^{mn}

where r is the rate, m is the number of payment per year, and n is the number of years.

Interest = future value - present value

Given that present value = $800, r = 8%, n = 4 years.

(i) annually,

m = 1, so that;

Future value = 800(1.08)^{4}

                     = $933.12

Interest = $933.12 - $800

             = $133.12

(ii) quarterly,

m = 3, so that;

Future value = 800(1+\frac{0.08}{3}) ^{(4x3)}

                      = 800(1.372)

                      = $1097.6

Interest = $1097.6 - $800

             = $297.6

(iii) monthly,

m = 12, so that;

Future value = 800(1+\frac{0.08}{12}) ^{(4x12)}

                     = 800(1.376)

                     = $1100.8

Interest = $1100.8 - $800

             = $300.8

(iv) weekly,

m = 54, so that;

Future value = 800(1+\frac{0.08}{54}) ^{(4x54)}

                     = 800(1.377)

                     = $1101.6

Interest = $1101.6 - $800

             = $301.6

4 0
3 years ago
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