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sergejj [24]
3 years ago
10

Using the allowance method of accounting for uncollectible receivables. April 1 Sold merchandise on account to Jim Dobbs, $7,500

. The cost of the merchandise is $3,000. June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. Oct. 11 Reinstated the account of Jim Dobbs and received cash in full payment.

Business
1 answer:
pentagon [3]3 years ago
6 0

Answer:kindly check attached picture for details

Explanation:

Using the allowance method of accounting for uncollectible receivables. April 1 Sold merchandise on account to Jim Dobbs, $7,500. The cost of the merchandise is $3,000. June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. Oct. 11 Reinstated the account of Jim Dobbs and received cash in full payment.

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Find the APR, or stated rate, in each of the following cases (Do not round intermediate calculations and round your final answer
Valentin [98]

Answer:

Stated Rate    No. of Times Compounded     Effective Rate (EAR) %            

   11.85%                    Semiannually                             12.2 %

   12.37%                    Monthly                                      13.1%

   110.27%                    Weekly                                       10.8%

   13.54%                    Infinite                                        14.5%

Explanation:

EAR = ( 1 + ( APR / m )^m)-1

Semiannually

m = 12 / 6 = 2

0.1220 = ( ( 1 + ( APR / 2 ) )^2) - 1

0.1220 + 1 = (1 + ( APR / 2 ) )^2

1.1220 = ( 1 + ( APR / 2 ) )^2

\sqrt{1.1220} = \sqrt{( 1 + ( APR / 2 ))^2}

1.059 = 1 + ( APR / 2 )

1.059 - 1 = APR / 2

0.059 x 2 = APR

APR = 0.1185 = 11.85%

Monthly

m = 12  / 1 = 12

0.1310 = ( ( 1 + ( APR / 12 ) )^12) - 1

0.1310 + 1 = (1 + ( APR / 12 ) )^12

1.1310 = ( 1 + ( APR / 12 ) )^12

APR = 12.37%

Weekly

m = 52

0.1080 = ( ( 1 + ( APR / 52 ) )^52) - 1

0.1080 + 1 = (1 + ( APR / 52 ) )^52

1.1080 = ( 1 + ( APR / 52 ) )^52

APR = 10.27%

Infinite

m = 20,000

0.1450 = ( ( 1 + ( APR / 12 ) )^12) - 1

0.1450 + 1 = (1 + ( APR / 12 ) )^12

1.1450 = ( 1 + ( APR / 20,000 ) )^20,000

APR = 13.54%

3 0
3 years ago
Assume General Electric Company reports the following footnote in its 10-K report. December 31 (In millions) 2016 2015 Raw mater
True [87]

Answer:

$ 244 million

Explanation:

Calculation for how much has GE saved in taxes by choosing LIFO over FIFO method for costing inventory

Tax rate Amount (In millions)

LIFO $ 10,315.00 35% =$ 3,610.25

FIFO $ 11,012.00 35% =$ 3,854.20

Savings in taxes $ (697.00) $ (243.95)

Hence,

Savings in taxes=$ 3,610.25 million-$ 3,854.20 million

Savings in taxes=($243.95 million)

Savings in taxes=($ 244 million) Approximately

Therefore the amount that GE saved in taxes by choosing LIFO over FIFO method for costing inventory will be $ 244 million

6 0
3 years ago
What are the 4 phases in doing research?describe each phase <br>(for psychology)​
mojhsa [17]

Answer:

•Discovery

• Data

• Analyze

• Ethical

Explanation:

• Discovery . Here, there are observations of events or actions which bring about new knowledge that will be further exposed to new hypothesis.

• Data . Raw data(qualitative- non numerical and quantitative -numerical) are collected in this stage and then processed to become information.

• Analyze . This is a stage where the processed data and information are analyzed. It is where the data are cleaned, inspected, transformed and then modeled with the aim of making meaningful insights, drawing conclusion and then support further decision making.

• Ethical. In this stage, researchers check to determine whether their procedures are ethical or not. This is where the data analysed are checked whether they conform with the correct rule of conduct.

3 0
4 years ago
Brandon has presented the possible requirements for the next sprint. The development team has asked questions and has clarificat
Nezavi [6.7K]

Based on the information given the formal event in which this is dome is :Product backlog refinement.

<h3>What is product backlog refinement?</h3>

Product backlog refinement can be defined as the process in which the development team tend to understand a product as well as how the product should be prioritize.

Product backlog refinement is important as it help to increase efficiency when planning for the next sprint and it as well help the development team to have full understanding of what the outcome of the product will be.

Inconclusion  the formal event in which this is dome is :Product backlog refinement.

Learn more about Product backlog refinement here:brainly.com/question/4841869

3 0
2 years ago
Dmitri is training for a triathlon, a timed race that combines swimming, biking, and running. Consider the following sentence: B
kondaur [170]

Answer:

Decision on the margins

Explanation:

Pool time seems to be having a greater effect at the moment, it makes sense for his to spend a bit more time in the pool and a bit less time on the bike.

However, this does not mean that it makes sense for her to spend all his time in the pool and no time on the bike. If he cut out all training on the bike, the value of a little bit of bike training might be higher than the value of the last hour of pool training. Dimitri does not treat biking versus swimming as an all-or-nothing decision. He makes small changes at the margin in the number of hours spent training for each activity.

Also they both realise that his time is fixed (20hrs) and anytime he wants to spend extra on one activit, is time he cannot spend on another (opportunity cost).

They are both trying to improve Dimitri's total time (exploiting opportunities to makes themselves better off).

An assumption that Dimitri realises that as he spends more time in the pool improving his swim time, his run and cycle times will suffer. As he swims more, his improvement is likely to slow down, while spending less time on cycling and running will cost him progressively more in terms of time.

Conclusion Dimitri is looking at the margins. His wife on the other hand, is not, she is ignoring the interaction, may be forgetting the decreasing improvements in swim and increasing deterioration in the other 2 legs.

4 0
3 years ago
Read 2 more answers
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