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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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Mauve company permits employees to occasionally use the copying machine for personal purposes. the copying machine is located in
serg [7]
That means they arnt paying you a lot or there not making more that there selling
6 0
3 years ago
Quantitative Problem 2: Hadley Inc. forecasts the year-end free cash flows (in millions) shown below.
Katarina [22]

The stock price is mathematically given as

P=$57.64

<h3>What is the stock price?</h3>

Generally, the equation for is Value after year  mathematically given as

V=\frac{(FCF for year 5*Growth rate)}{(WACC-Growth rate)}\\\\V = \frac{(55.4*1.05)}{(0.09-0.05)}

V= $1454.25

Hence, the current value is mathematically given as

I=Discounting factor equal to the future cash flows multiplied by their present value

I=\frac{-22.76}{1.09} + \frac{38.8}{1.09^2}+ \frac{43.4}{1.09^3}+\frac{52.3}{1.09^4}+\frac{55.4}{1.09^5}+\frac{1454.25}{1.09^5}

I=$1063.508769

current value for ordinary stock

I'=$1037.508769million

In conclusion, the stock price is

P=(1037.508769/18)

P=$57.64

Read more about the stock price

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5 0
2 years ago
Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to
Vlada [557]

Answer:

See explanation Section

Explanation:

Adjusting Entries

Req. A, B

A. <em>Since the partial amount of insurance policy has been expired-</em>

Debit      Insurance Expense        $3,203

Credit             Prepaid Insurance              $3,203

An expense will be appeared and the current assets will be decreased.

B. Debit     Teaching supplies Expense        $7,528

Credit               Teaching supplies                               $7,528

<em>As the company has $2,776 supplies available from $10,304, teaching supplies expense will appear as $7,528 = (10,304 - 2,776)</em>

Req. C, D, and E

C. Debit     Depreciation expense-equipment      $12,814

Credit            Accumulated depreciation-equipment      $12,814

D. Debit     Depreciation expense-professional library     $6,407

Credit            Accumulated depreciation-professional library      $6,407

E. Debit      Unearned revenue             $5,600

Credit             Service revenue                          $5,600

<em>Note: Monthly fee of $2,800 from November to December. Therefore, 2 months fee = $2,800*2 = $5,600 has been earned.</em>

Req. F, G and H

F. Debit      Accounts receivable         $8,750

Credit                   Service revenue                    $8,750

<em>Note: As WTI has not yet received any payment from October 15 to December 31, there will be 2 and a half months bill due. Each month = 3,500. Therefore, 2 months = $7,000, and a half-month = $(3,500 ÷ 2) = $1,750. Total receivable = $7,000 + $1,750 = $8,750.</em>

G. Debit    Salaries expense          $400

Credit                  Salaries payable            $400

<em>Note: As there are two employees and two days salary have been accured, total salaries payable = $100 per day × 2 employees × 2 days = $400</em>

H. Debit     Rent Expense           $2,062

Credit               Prepaid rent                    $2,062

7 0
3 years ago
When total demand outpaces actual output in the economy, the economy usually enters?
alexandr402 [8]
The economy usually enters into DEMAND PULL INFLATION. This situation is usually describes as too much money chasing too few goods. Demand pull inflation is characterized by increase in the prices of goods and services, increase in real gross domestic product and decrease in unemployment. 
8 0
3 years ago
The net income reported on the income statement for the current year was $240,000. Depreciation was $50,000. Accounts receivable
Ilya [14]

Answer:

a. $337,000

Explanation:

Calculation to determine How much cash was provided by operating activities

Using this formula

Cash provided by Operating activities=Net income+Depreciation+Account receivable+Inventories decreased -Prepaid expenses+Accounts payable increased

Let plug in the formula

Cash provided by Operating activities=$240,000 + $50,000 + $10,000 + $30,000 - $1,000 + $8,000

Cash provided by Operating activities=$337,000

Therefore the cash provided by operating activities was $337,000

3 0
3 years ago
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