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Afina-wow [57]
3 years ago
7

At the end of the first year of operations, Yolandi Company had $900,000 in sales and accounts receivable of $350,000. XYZ’s man

agement has estimated that 1.5% of sales will be uncollectible. For the end of 2019, after the adjusting entry for bad debts was journalized, what is the balance in the following accounts:
1. Bad debt expense: ____________
2. Allowance for doubtful accounts: _____________
3. For the end of 2019, what is the company's net realizable value?
Business
1 answer:
vivado [14]3 years ago
6 0

Answer:

1. $13,500

2. $13,500

3. $336,500

Explanation:

1. Bad debt expense:

= Sales × Percent of sales uncollectible

= $900,000 × 1.5%

= $13,500

Therefore, the bad debt expense for the year 2019 is $13,500.

2. Allowance for Doubtful accounts = $13,500

3. For the end of 2019, what is the company's net realizable value:

= Accounts receivable - Allowance for Doubtful accounts

= $350,000 - $13,500

= $336,500

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As it relates to inventory, a buyer's time expended to prepare the purchase order for more material is considered a(n) ____ cost
OLga [1]

Answer:

"Ordering" is the correct solution.

Explanation:

  • Ordering expenses are incurred in purchasing a new shipment of manufactured goods. This would include expenditures for the attempting to place of a purchase agreement, cost savings for the evaluation including its batches expected to receive, ends up costing for documentary evidence, etc.
  • The cost of ordering correlated negatively with either the cost of transport. This appears to mean because the much more purchases a business location including its providers, the significantly higher the ordering costs will indeed be.
3 0
2 years ago
Ann is a teacher who became interested in helping adults in some of the poorer neighborhoods learn how to read. She plans to sta
garik1379 [7]

Answer:

correct answer is nonprofit organization

Explanation:

  • The nonprofit organization primarily represents organizations based on scientific, educational, research and religious concerns.
  • The nonprofit organization represents voluntary and association type organizations that do not pay income tax.
  • In question, Ana is a professional teacher and she wants to help a poor student in her studies and open a center known as a non-profit organization.

so correct answer is nonprofit organization

5 0
3 years ago
The acquisition cost of a certain raw material changes frequently. The book value of the inventory of this material at year end
kkurt [141]

Answer: B. FIFO method

Explanation: The inventory prices of goods as calculated by a firm will remain the same at year end if a firm's inventory price is automatically updated on account of any additional inventory purchase and also if done on a periodic basis. This will occur only when the inventory pricing system is based on First-in-First-out method, whereby the prices of first inventory purchase is first associated or applied on goods sold until the unit in the inventory is exhausted. This allows prices of goods to move based on period of purchase where older prices gets precedence over the newer inventory purchase.

5 0
3 years ago
You own one call option with an exercise price of $30 on Nadia stock. This stock is currently selling for $27.80 a share but is
Shalnov [3]

Answer: 0.755

Explanation:

From the information given, the current per share value of the option if it expires in one year will be calculated as follows:

Firstly, we calculate the present value which will be:

= $28 / ( 1 + 0.05 )

= $28/1.05

= $26.667

The number of options needed will be:

= ( 34 - 28 )/ ( 4-0)

= 6/4

= 1.5

Therefore,

27.80 = (1.5 x Co) + [28 / (1+0.05)]

27.80 = 1.5Co + (28/1.05)

27.80 = 1.5Co + 26.667

1.5Co = 28.0 - 26.667

1.5Co = 1.1333

Co = 0.755

Therefore, the answer is 0.755

5 0
3 years ago
PLEASE HELP FAST!!!
maria [59]
It’s C because it’s balanced
7 0
3 years ago
Read 2 more answers
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