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Naya [18.7K]
3 years ago
6

On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $62,600

and $1,100, respectively. During Year 2, Kincaid reported $148,000 of credit sales, wrote off $1,150 of receivables as uncollectible, and collected cash from receivables amounting to $154,500. Kincaid estimates that it will be unable to collect one percent (1%) of credit sales.
The amount of uncollectible accounts expense recognized in the Year 2 income statement will be:__________
Business
1 answer:
VikaD [51]3 years ago
6 0

Answer:

$2,630

Explanation:

First we calculate the estimated amount that would not be collected. This is 1% of Credit Sales.

148,000 x 1% = $1,480

Then we add the estimated amount with the amount written off as receivables uncollected for the Year 2. As shown below:

1,480 + 1,150 = $2,630

Hence, the amount of uncollectible accounts expense recognized in the Year 2 income statement will be $2,630.

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TB MC Qu. 06-49 Radakovich Corporation has provided the... Radakovich Corporation has provided the following data from its activ
Crank

Answer:

$8,460

Explanation:

The computation of product margin for product F60N is shown below:-

Total overhead cost = ($1,372,578 × 1,200 ÷ 61,800) + ($63,235 × 78 ÷ 2,010) + ($151,316 × 34 ÷ 2,090)

= $26,652 + $2,454 + $2,462

= $31,568

Per unit overhead cost = $31,568 ÷ 600

= $52.61

Per unit cost = Direct material + Direct labor + Overhead cost

= $49.55 + $12.44 + $52.61

= $114.60

Finally

product margin for product F60N is = (Selling price - Per unit Cost) × Number of units sold

= ($128.70 - $114.60) × 600

= $14.1 × 600

= $8,460

5 0
3 years ago
You receive a credit card application from Shady Banks Savings and Loan offering an introductory rate of .6 percent per year, co
kolezko [41]

Answer:

Total interest paid = $606.63

Explanation:

First calculate the monthly payment for first six months

Monthly interest for first 6 months =.006/12=.0005

= 6500*(1.0005)^6

=6519.52

Interest rate for next six months

=17.37%/12=1.45%

(1.0145)^6=1.090054

=6519.52*(1+.0145)^6

=7106.63

Total interest paid = 7106.63-6500  

Total interest paid = 606.63

7 0
3 years ago
A manufacturer of widgets was incorporated in and has its principal place of business in State A. The manufacturer also operates
stira [4]

Answer:

Federal arbitration district court

Explanation:

It's so judicial platform to facilitate private dispute resolutions through arbitration, it applies where transactions contemplated by parties involved interstate commerce.

3 0
3 years ago
Daniel loves sales because he responds well to the pressure he faces in the many new or uncertain situations he encounters as a
saul85 [17]

Answer:

The answer is: analytical decision making style

Explanation:

Analytic decision makers like to examine a lot of information before making a decision. In order to make a decision they will try to rely on their direct observation, different data sources and all the the facts they can gather. It is common for them to seek help from others to help them make a decision. They have a high tolerance for ambiguity but still like to control most aspects of their decision making process. The biggest issue with this kind of approach is the long time it takes.  

8 0
3 years ago
Read 2 more answers
For every dollar of wealth in the average white family, the typical black family has around _______
gizmo_the_mogwai [7]

For every dollar of wealth in the average white family, the typical black family has around one cent.

<h3>What is Racial inequality?</h3>

Northwestern University sociologist Christine Perche ski, who co-authored the study, compared the wealth — assets minus debts — of households with kids for black, white, and Latino families, stating that a family’s wealth exists key to a child’s future success.

Racial inequality in income for families with children has not increased recently, but racial wealth inequality controls grown tremendously,” Percheski said. “The level of racial economic inequality in the U.S. stands staggeringly high, and that is an essential part of the story of racial violence and racial injustice and health disparities of the COVID-19 pandemic.”

Percheski points to prejudice in housing and mortgage lending, including predatory lending, as well as inequities in the way higher education exists financed as some of the contributory factors that have created the huge disparity in wealth between black and white families. She also notes that after the Great Recession of 2008, many white and Latino families existed able to regain much of the wealth they lost. But that hasn’t occurred for black families who have seen a nearly 20% drop in homeownership since that time.

Hence, For every dollar of wealth in the average white family, the typical black family has around one cent.

To learn more about Racial inequality refer to:

brainly.com/question/19908071

#SPJ4

6 0
2 years ago
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