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svlad2 [7]
3 years ago
12

On January 1, Year 1, the Accounts Receivable balance was $20,100 and the balance in the Allowance for Doubtful Accounts was $1,

700. On January 15, Year 1, an $490 uncollectible account was written-off. What is the net realizable value of accounts receivable immediately after the write-off?
Business
1 answer:
wel3 years ago
4 0

Answer:

$18,400

Explanation:

A/R                                                               $20,100

Less: Allowance for doubtful accounts         ($1,700)

net realizable value of A/R                             $18,400    

The write off amount is already included in allowance for doubtful accounts on provision basis therefore it can't be separately deducted again.                                                

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Project X has cash flows of $8,500, $8,000, $7,500, and $7,000 for Years 1 to 4, respectively. Project Y has cash flows of $7,00
kondaur [170]

Answer:

e. Project X has both a higher present value and a higher future value than Project Y.

Explanation:

The project X cash flows are higher in initial years than of project Y. The present value of project X cash flows will be greater than project Y. The time value of money of project X will be greater than Project Y.

The future value of Project X will also be higher than project Y because it has higher cash flows in earlier years. When future value will be calculated the project X will give the higher Future value than project Y.

4 0
3 years ago
Name and explain money notes<br>​
Alborosie

Answer:

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context.[1][2][3] The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment.[4][5] Any item or verifiable record that fulfils these functions can be considered as money.

6 0
2 years ago
Purchased grooming equipment for $12,700
olga_2 [115]

Answer:

who spends that much-

Explanation:

8 0
3 years ago
Read 2 more answers
In December 2016, Custom Mfg. established its predetermined overhead rate for jobs produced during 2017 by using the following c
Ostrovityanka [42]

Answer:

1. Predetermined Overhead Rate  2.3

2. Under applied Overhead $ 8300

<u></u>

3.Cost of goods sold     $ 8,300 Dr

Factory overhead                          $ 8300 Cr

Explanation:

As direct labor is not given overhead rate is calculated on the basis of direct material costs

Predetermined  Overhead Rate= Estimated Overheads/ Estimated Direct Materials Cost

1. Predetermined Overhead Rate= $460,000/ $200,000= 2.3

<u><em>Now we multiply the predetermined overhead rate with the actual material costs to get the aplpied overhead. And the difference is found.</em></u>

Actual Overheads  $1,271,100

Applied Overheads = 2.3 * $ 549,000 = $ 1262700

2. Under applied Overhead = Actual Overhead- Applied Overhead

                                       = $1,271,100-$ 1262700= $ 8300

<u><em>The under applied overhead is debited to Cost Of Goods Sold.</em></u>

<u>No       Date          General Journal           Debit           Credit</u>

1          Dec 31        Cost of goods sold     $ 8,300 Dr

1                               Factory overhead                          $ 8300 Cr

8 0
3 years ago
Which of the following activities also contributes to your financial success? Check all that apply. Self-awareness and knowledge
baherus [9]

Answer:

The correct answers are the first, second and third options. All of them but the last one.

Explanation:

To begin with, when it comes to terms of financial success regarding someone personal matters, the majority of activities that can strength up those financial thoughts are the ones that improve yourself as a financial thinker, like the self-awareness and knowledge of the person's own values when it comes to money and its spending and saving because that will make the person see the importance of keeping it sometimes to spending it other times for better thing that can give him better future opportunities. Moreover, the development of an effective plan that shows to him how he must spend those saving and how he must control himself from the waste of money will also help as well as the fact that he knows and understand the conditions and circumstances that affect the local, national and international economy that will eventualy end up affecting the person's financial life.

3 0
3 years ago
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