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AlekseyPX
3 years ago
7

On December 31, 2021, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $40,000 and

$1,700, respectively. During 2022, Coolwear wrote off $875 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $5,600 at December 31, 2022. Bad debt expense for 2022 would be:
Business
1 answer:
DerKrebs [107]3 years ago
6 0

Answer:

$4,775

Explanation:

Given that,

Allowance for Uncollectible Accounts = $1,700

Write off in Accounts receivable during the year = $875

Allowance for Uncollectible Accounts required = $5,600

Closing Allowance for Uncollectible Accounts:

= Allowance for Uncollectible Accounts - Write off in Accounts receivable during the year

= $1,700 - $875

= $825

Bad debt expense for 2022:

= Allowance for Uncollectible Accounts required - Closing Allowance for Uncollectible Accounts

= $5,600 - $825

= $4,775

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Answer:

59

Explanation:

Let x = length of the rows

we can derive two equations from this question

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Since the number of chairs are equal in the two equations :

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Substitute for x in either equations

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Answer:

A. creating the company income statement.

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3 years ago
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The answer and procedures of the exercise are attached in the following archives.

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6 0
3 years ago
A college graduate in 1972 found a job paying $7,200. The CPI was 0.418 in 1972. A college graduate in 2016 found a job paying $
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Answer:

1 is the base index of CPI, so a value of 0.418 means that the prices were 0.418 times the base index and 2.4 means that prices were 2.4 times the index

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