Answer:
By following the Accountants Principle and Dicksons policy of debiting Bad debt accounts as Accounts are written off, the Net income would have been impacted negatively (reduced) by the write off from Prior period of $31,330 only
However, by following the % of receivables approach, a total of $31,330 (Write off from prior period) + $9,240 (current period provision for bad debt) will impact the Net Income negatively (reduced) = $40,570
Explanation:
Accounts receivable balance = $77,000
12% projected uncollectible debt = $9,240
Provision for bad debt under the % of receivables approach = $9,240
Amount written off related to prior year = $31,330
Answer:
The answer is $2,225,000
Explanation:
Cost of acquisition is $1,775,000
Meyer company's share of net income in Gannon corporation:
60% of $1,000,000
0.6 x $1,000,000
= $600,000
Meyer company's share from cash dividend in Gannon corporation
60% of $250,000
0.6 x $250,000
= $150,000
The balance in the equity investment account at December 31, 2021 should be:
$1,775,000 + $600,000 – $150,000
= $2,225,000
Answer:
B) $1.40 per machine hour
Explanation:
Total machine hours = 29,000 + 48,000 = 77,000
Predetermined overhead allocation rate = Total estimated overhead costs / Total estimated quantity of the overhead allocation base
= $108,000 / 77,000 machine hours
= $1.40 per machine hour
The formula to use is:
Private
saving = Public saving + Domestic investment + Net capital outflow + Loanable
funds
Substituting
the given values:
$500
billion = - $100 billion + $150 billion + $250 billion + Loanable funds
<span>Loanable
funds = $200 billion</span>
Answer:
the planned shortage in dollars is $19,499.60
Explanation:
The computation of the planned shortage in dollars is shown below:
= Percentage of planned shortage × planned net sales
= 1.64% × $1,189,000
= $19,499.60
hence, the planned shortage in dollars is $19,499.60
We simply applied the above formula so that the correct value could come
And, the same is to be considered
