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laiz [17]
3 years ago
15

On january 1, year 2, kincaid company's accounts receivable and the allowance for doubtful accounts carried balances of $31,000

and $500, respectively. during the year kincaid reported $72,500 of credit sales. kincaid wrote off $550 of receivables as uncollectible in year 2. cash collections of receivables amounted to $74,550. kincaid estimates that it will be unable to collect one percent (1%) of credit sales.the net realizable value of receivables appearing on kincaid's year 2 balance sheet will amount to:
Business
1 answer:
Gala2k [10]3 years ago
3 0

Answer:

$27,725

Explanation:

Given that,

kincaid company's accounts receivable = $31,000

Allowance for doubtful accounts at January 1 = $500

Wrote off receivables as uncollectible = $550

1% of credit sales

cash collections of receivables = $74,550

Accounts receivable:

= Accounts receivable at January 1 + Credit sales - Wrote off receivables as uncollectible - Cash collection of receivables

= $31,000 + $72,500 - $550 - $74,550

= $28,400

Accounts for Doubtful Accounts:

= Allowance for doubtful accounts at January 1 - Wrote off receivables as uncollectible + 1% of credit sales

= $500 - $550 + (0.01 × $72500)

= $500 - $550 + $725

= $675

Net realizable value of receivables:

= Accounts receivable - Accounts for Doubtful Accounts

= $28,400 - $675

= $27,725

Therefore, the net realizable value of receivables appearing on kincaid's year 2 balance sheet will amount to $27,725.

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Veronica, a vice president of human resources at an auto company, wants to develop its programs for employee empowerment. Howeve
klasskru [66]

Answer:

B) In its rulings, the NLRB has allowed employee empowerment in certain very limited situations.

Explanation:

Employee empowerment refers to a company giving its employees a higher degree of autonomy and independence regarding their normal work related activities.

Personally I don't understand how employee empowerment can affect employees negatively but unions tend to oppose it unless they are directly involved in the empowerment process.

3 0
3 years ago
As a graphic artist, Randy has just finished a new calendar. The calendar cost him $1.00 for the glossy paper, $3.00 for the six
Yanka [14]

Answer:

Break-even units = 66.67 units

Explanation:

<em>Break-even point is the level of activity that achieves no profit or loss. At this level profit is zero because the the total revenue is equal to total cost.</em>

<em>The break-even point is calculated as </em>

<em>Units to achieve target profit = (Total general fixed cost for the period + target profit)/ contribution per unit</em>

Contribution per unit = Selling Price - Variable cost

Contribution per unit = 15- (1+3+0.50) = 10.5

Fixed cost = 500 +( 50× 4) = 700

So the units requited to achieve break-even point:

Break-even point =  700/10.5

                            = 66.67 units

4 0
3 years ago
g Corporation's cost formula for its bungalow operating cost is $2,960 per month plus $326 per day. For the month of December, t
Advocard [28]

Answer: $942 U

Explanation:

Budgeted cost was $2,960 per month plus $326 per day and there were 18 days of actual activity.

Budgeted cost = 2,960 + 326 * 18

= $‭8,828‬

Variance = Budgeted cost - Actual cost

= ‭8,828‬ - 9,770

= -$942

Budgeted cost is less than Actual cost which means the Variance is UNFAVORABLE.

5 0
2 years ago
At the break-even point of 1000 units, variable costs are $60000, and fixed costs are $35000. How much is the selling price per
Mice21 [21]

Answer:

the selling price per unit is $95

Explanation:

The computation of the selling price per unit is shown below:

Selling price per unit is

= Total cost ÷ break even points

where,

Total cost is

= Variable cost +  fixed cost

= $60,000 + $35,000

= $95,000

And, the break even point is 1,000 units

So, the selling price per unit is

= $95,000 ÷ 1,000 units

= $95

Therefore, the selling price per unit is $95

6 0
3 years ago
Through which tool does the federal reserve affect money available for banks to loan? discount rate money multiplier open-market
erastovalidia [21]

The <em>federal reserve </em>affects money available for banks to loan by using the<u> reserve requirement</u> tool.

<h3>What is the reserve requirement in monetary policy? </h3>

Reserve requirement is said as the set-aside funds by the commercial banks that they utilize for meeting their liabilities and instant withdrawal from customers.

Therefore, when Fed increases the rate of <em>reserve requirement</em> then banks need to hold the <u>large amount </u>which reduces their ability to loan more funds. It ultimately reduces the money supply and <em>vice-versa</em>.

Learn more about monetary policy here:

brainly.com/question/13926715

4 0
2 years ago
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