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melamori03 [73]
4 years ago
12

Flyer Company has provided the following information prior to any year-end bad debt adjustment:Cash sales, $167,000Credit sales,

$467,000Selling and administrative expenses, $127,000Sales returns and allowances, $47,000Gross profit, $507,000Accounts receivable, $275,000Sales discounts, $31,000Allowance for doubtful accounts credit balance, $2,900Flyer estimates bad debt expense assuming that 2% of credit sales have historically been uncollectible. What is the balance in the allowance for doubtful accounts after bad debt expense is recorded?a) $12,240.b) $9,340.c) $9,780.d) $6,440.
Business
1 answer:
Luda [366]4 years ago
4 0

Answer:

The balance in the allowance for doubtful accounts after bad debt expense is recorded is $12,240. Option A

Explanation:

Cash sales = $167,000

Credit sales = $467,000

Selling and administrative expenses = $127,000

Sales returns and allowances = $47,000

Gross profit = $507,000

Accounts receivable = $275,000

Sales discounts = $31,000

Allowance for doubtful accounts credit balance = $2,900

Balance needed in the 'Allowance for doubtful accounts' = $467,000 × 2%

= $9,240

Credit balance in the allowance account = $2,900

Bad debts expense =  Balance needed in the 'Allowance for doubtful accounts' + Credit balance in the allowance account

= $9,340 + $2,900

= $12,240

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A mining company owns two mines, each of which produces three grades (high, medium, and low) of ore. The company has a contract
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Answer:

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The formulation of the linear programming is:

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Restrictions:

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We start graphing the restrictions in a M1-M2 plane.

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In one of this four points lies the minimum cost.

Graphically, we can graph the cost function over this feasible region, with different cost levels. When the line cost intersects one of the four points with the lowest level of cost, this is the optimum combination.

(NOTE: it is best to start with a low guessing of the cost and going up until it reaches one point in the feasible region).

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mote1985 [20]

Answer:

The Answer is A) 2

Explanation:

Drawing details from the question, the formula for calculating Average Waiting Time under the Single -Server Queue Model is given as:

Average  Waiting Time = <u>(Average No of customers waiting in line</u>)  

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> λ is a mathematical symbol pronounced Lambda and here refers to <em>Rate of Arrival.</em>

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Answer:

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