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Vinil7 [7]
3 years ago
12

Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $420,000; Allowance for Doub

tful Accounts has a debit balance of $4,000; and sales for the year total $1,890,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $16,400. a. Determine the amount of the adjusting entry for uncollectible accounts. $ b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable $ 420,000 Allowance for Doubtful Accounts $ 16,400 Bad Debt Expense $ c. Determine the net realizable value of accounts receivable. $
Business
1 answer:
Fiesta28 [93]3 years ago
8 0

Answer and Explanation:

The computation is shown below:

a. Amount of adjusting entry for uncollectible accounts

= Estimated balance of Allowance for Doubtful Accounts + debit balance

= $16,400 + $4,000

= $20,400

b. Adjusted balances

For account receivable

= account receivable

= $420,000

For allowance for doubtful debts

= Estimated amount

= $16,400

For bad debts

= AMount of adjusting entry

= $20,400

c. Net realizable value

= Account receivable balance - estimated balance of Allowance for Doubtful Accounts

= $420,000 - $16,400

= $403,600

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kolezko [41]

Answer: a. $14.9

b. $3725

Explanation:

a. What is the offer price?

This will be calculated as:

= NAV / (1 - load charge %)

= 13.85 / (1 - 7%)

= 13.85 / (1 - 0.07)

= 13.85 / (0.93)

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B. What did Lee pay for his investment?

This will be:

= Number of shares bought × Offer price

= 250 × $14.9

= $3725

3 0
3 years ago
The sec generally defers to the fasb concerning controversial disclosure and reporting issues.
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6 0
2 years ago
You invest all the money you earned during your summer sales job (a total of $45,000) into the stock of a company that produces
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Answer:

The annual rate of return of the invesment will be -14,97%

Explanation:

The initial investment is 45.000 and after 5 years the value of the investment is only 20.000. Here we can see a destruction of value (20.000 < 45.000). In finance, the time takes an essential part in calculation, so through the interest rate we calculated how bad was the investment in annual terms. The formula is as follows: Final investment value=(Initial investment*(1+interest rate)^(total years)) in our case would be: 20.000=(45.000*(1+interest rate)^(5)) From this formula we got -14,97%

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Background-- part of a business proposal discusses the history of a product, service, or company with a focus on the relationship between the writer and a potential buyer

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Effective business proposals are built around a great idea or solution. While you may be able to present your normal product, service, or solution in an interesting way, you want your document and its solution to stand out against the background of competing proposals.

An effective business proposal:

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How do you introduce a business proposal?

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2 years ago
Federal Semiconductors issued 11% bonds, dated January 1, with a face amount of $800 million on January 1, 2021. The bonds sold
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