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3 years ago

What is a market supply schedule?

Business

2 answers:

Ipatiy [6.2K]3 years ago

6 0

Answer:

a chart that lists how much of a good all suppliers will offer at different prices

Explanation:

pantera1 [17]3 years ago

3 0

A market supply schedule is a chart that lists the quantity supplied for a good or service that suppliers throughout the whole economy are willing and able to supply at all possible prices, so in this case:

a chart that lists how much of a good all suppliers will offer at different prices

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The following transactions are for Kingbird Company.

Llana [10]

Answer:

a. The journal entries to record the transactions woule be the following:

To record the sales

3 dec Debit Credit

Account receivables $473,800

Sales $473,800

To record the cost of goods sold

cost of goods sold $320,000

Merchandise Inventory $320,000

To record the allowance

8 dec Debit Credit

Sales return and allowance $22,800

Accounts receivable $22,800

To record the cash received from the customer

13 dec Debit Credit

Cash $446,490

Sales discount $4,510

Accounts receivable $451,000

Explanation:

a. The journal entries to record the transactions woule be the following:

First we have to prepare the journal entry to record the sales and cost of goods sold according to the given data:

To record the sales

3 dec Debit Credit

Account receivables $473,800

Sales $473,800

To record the cost of goods sold

cost of goods sold $320,000

Merchandise Inventory $320,000

Next we have to Prepare the journal entry to record the allowance as follows:

To record the allowance

8 dec Debit Credit

Sales return and allowance $22,800

Accounts receivable $22,800

Finally we have to Prepare the journal entry to record the cash received from the customer as follows:

To record the cash received from the customer

13 dec Debit Credit

Cash $446,490

Sales discount $4,510

Accounts receivable $451,000

Cash=$451,000-$4,510=$446,490

Sales discount=$451,000*1%=$4,510

Accounts receivable=$473,800- $22,800=$451,000

5 0

3 years ago

b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the

inessss [21]

Question Completion:

Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis.

Days Past Due

Total 0 1 to 30 31 to 60 61 to 90 Over 90

Accounts

receivable $570,000 $396,000 $90,000 $36,000 $18,000 $30,000

Percent uncollectible 1% 2% 5% 7% 10%

a. Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using the aging of accounts receivable method.

Answer:

Daley Company

a. The estimated balance of Allowance for Doubtful Accounts using the aging of accounts receivable method is:

= $11,820.

b. Adjusting Journal Entry:

Debit Bad debts expense $6,420

Credit Allowance for Doubtful Accounts $6,420

To record bad debts expense and bring Allowance balance to $11,820.

c. Adjusting Journal Entry:

Debit Bad debts expense $13,720

Credit Allowance for Doubtful Accounts $13,720

To record bad debts expense and bring Allowance balance to $11,820.

Explanation:

a) Data and Calculations:

Ageing of Accounts Receivable:

Days Past Due

Total 0 1 to 30 31 to 60 61 to 90 Over 90

Accounts

receivable $570,000 $396,000 $90,000 $36,000 $18,000 $30,000

Percent uncollectible 1% 2% 5% 7% 10%

Allowance $11,820 $3,960 $1,800 $1,800 $1,260 $3,000

Bad Debts Expense:

Allowance for Doubtful Accounts:

b. c.

Unadjusted balance $5,400 credit $1,900 debit

Adjusted balance 11,820 credit 11,820 credit

Bad debts expense $6,420 $13,720

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3 years ago

Having a good credit score is important because

zvonat [6]

It shows you're trustworthy and banks will be more willing to loan you money

5 0

2 years ago

Read 2 more answers

Amy takes her car to Better Fix-It, Inc., which repairs the car and bills Amy for $500. Amy writes out a check drawn on Capital

meriva

Answer:

Explanation:

I believe the answer is A

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3 years ago

Helen Weeks has worked for Bonne Consulting Group (BCG) as the executive secretary in the administrative department for nearly 1

elena55 [62]

Answer:

1.) The internal controls which were missing are from the separation of responsibilities. There must have been in place an inner regulator were an individual works with advisers while alternative individual or unit take-care of the expense procedure, then somebody else allow expenses and then office should distribute the expenditures. There is an absence of inner controls as you can realize that the corporation amalgamated with a larger corporation and no one measured other accounts such as Jackson and company any longer.

2.) With the lack of control, this offered Helen the chance to effect the fraud. With this presence said, she was talented to emulate sign receipts and spend the retailer’s expenditures. She were also the one in responsibility of office the initial and final of accounts. In short, she had several accountabilities that should have remained separated up better and had diverse individuals for the separations of the job. In addition, she needed a bank description from the corporation where she was capable to put the expenditures and pay individual expenditures.

3.) The method this fraud might be noticed is the inspection squad can ask the bank for reports. They might also conference sellers. The accounting section should have ended sure they were doing the due diligence in dealers and corresponding the receipts with statements and expenditures.

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3 years ago