Answer:
Dr Bad Debt Expense $12,760
Cr Allowance for Doubtful Accounts $12,760
Explanation:
Based on the information given the adjusting journal entry that Tanning Company will make if the Allowance for Doubtful Accounts has a credit balance of the amount of $1,400 before adjustment will be :
Dr Bad Debt Expense $12,760
Cr Allowance for Doubtful Accounts $12,760
[(4%*$354,000)-$1,400]
Answer:
Cost of goods sold =$61,5300
Gross Profit = $144,700
Explanation:
Given the information:
- Purchase : $630,000
- Purchase Returns and Allowances $25,700
- Prchases Discounts $10,900
- Freight-In $18,300
- beginning inventory of $45,000
- ending inventory of $64,600
- net sales of $760,000
As we the, the fomular for total Goods Available for Sale
=
Beginning Inventory + Purchases + Freight-In - Purchase Returns and Allowances - Purchases Discounts
= $45,000 + $630,000 + $18,300 - $25,700 - $10,900
= $67,9900
=> Cost of goods sold = Total Goods Available for Sale - ending inventory
= $67,9900 - $64,600
= $61,5300
=> Gross Profit = Net sales - Cost of goods sold
= $760,000 - $61,5300
= $144,700
Hope it will find you well.
Answer:
the answer is A. Statements of what the product will be like
Explanation:
hope this helps <3 xoxo :)
Answer:
Fein Company
Schedule of Cash Payments
For the Month of August 202x
Salaries expenses:
From July salaries $3,230
<u>From August salaries $31,860</u>
Total salaries $35,090
Direct materials:
From July purchases $61,600
<u>From August purchases $14,600</u>
Total direct materials $76,200
Overhead expenses: $64,850
Debt payments:
Principal $15,000
<u>Accrued interests $450</u>
Total debt payment $15,450
Total cash payments $191,590
