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3 years ago

On December 31, 2017, Jerome Company has an accounts receivable balance of $316,000 before any year-end adjustments.

Business

1 answer:

katovenus [111]3 years ago

5 0

Answer:

The Allowance for Uncollectible Accounts at December 31, 2017 is $10,430

Explanation:

In order to calculate the Allowance for Uncollectible Accounts at December 31, 2017 we would have to make the following calculation:

Allowance for Uncollectible Accounts at December 31, 2017=Estimated Allowance 1-30 days+Estimated Allowance 31-60 days+Estimated Allowance 61-90 days+Estimated Allowance over 90 days

Estimated Allowance 1-30 days=Balance*% Uncollectible

Estimated Allowance 1-30 days=$152,000*1%=$1,520

Estimated Allowance 31-60 days=$87,000*2%=$1,740

Estimated Allowance 61-90 days=$50,000*3%=$1,500

Estimated Allowance over 90 days=$27,000*21%=$5,670

Allowance for Uncollectible Accounts at December 31, 2017=$1,520+$1,740+$1,500+$5,670

Allowance for Uncollectible Accounts at December 31, 2017=$10,430

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Which of the following is not part of the flow of events in variance analysis?

IgorC [24]

Answer:

e. Working to ensure that all variances are favorable.

Explanation:

the steps in effective management of variance analysis

Identifying questions and their explanations

Preparing standard cost performance reports

Taking corrective and strategic actions

Computing and analyzing variances

So the option is E.

Working to ensure that all variances are favorable.

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3 years ago

Definition of a stakeholder

Lubov Fominskaja [6]

1.
(in gambling) an independent party with whom each of those who make a wager deposits the money or counters wagered.
2.
a person with an interest or concern in something, especially a business.

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3 years ago

In 2018, Krause Company accrued, for financial statement reporting, estimated losses on disposal of unused plant facilities of $

pashok25 [27]

Answer:

$1,080,000 asset

Explanation:

Net deferred income taxes = Unused plant facilities disposed * Tax rate = $3,600,000 * 30% = $1,080,000 asset

Therefore, $1,080,000 should be reported as net deferred income taxes on Krause's balance sheet at December 31, 2018.

6 0

3 years ago

Swiss exports are concentrated, highs-density products (cheese, chocolates, watches) that minimize the need for importing bulky

Triss [41]

Answer:

A, mountain ranges increase transportation costs in and out of Switzerland and limit local resources.

Explanation:

The topography of Switzerland informed its exports decisions as Switzerland has a lot of mountain ranges (series of mountains or hills connecte d by high grounds). This mountain ranges has mad traspotation cost to increase for the high density goods that it produces. If Switzerland produced low density products, it would be very difficult to transport through the series of mountains and also the cost of transportation of such products will be exponential.

I hope this helps.

8 0

4 years ago

Garcia Company issues 10%, 15-year bonds with a par value of $230,000 and semiannual interest payments. On the issue date, the a

Nesterboy [21]

Answer:

A.$269,675

B.$305,325

C.$10,787

Explanation:

Requirement A Cash proceeds

Cash proceeds can find out by multiplying par value with the selling price

Cash proceeds = Par Value x Selling price

Cash proceeds = $230,000 x 117.25%

Cash proceeds = $269,675

Requirement B Interest Expense

Bond interest expense =Total repayment -Amount borrowed(REQ.A)

Bond interest expense = $575,000(w) - $269,675

Bond interest expense = $305,325

Workings

Semi-annual interest expense = $230,000 x 10% x 6/12

Semi-annual interest expense = $11,500

Total payment would be 30 for 15 years

Total payment = $11,500 x 30

Total payment = $345,000

Total repayment = Par value + $345,000

Total repayment = $230,000 + $345,000

Total repayment = $575,000

Requirement C Bond interest expense on the first interest payment date

Bond interest Expense = $269,675(REQ.A) x 8% x 6/12

Bond interest Expense = $10,787

6 0

3 years ago