What is the answer ?

Blight Financial has an investment in bonds issued by Searing Industries that are classified as trading securities. At December

Paul [167]

Answer:

b. Credit to Fair value adjustment for $5,000

Explanation:

Particulars Amount

Beginning balance of fair value adjustment $20,000

Less: Unrealized gain on Dec 31, year 3 <u>$15,000</u> ($515,000-$500,000)

Credit to Fair value adjustment <u>$5,000</u>

So, Credit to Fair value adjustment for $5,000 will be included in the related journal entry dated December 31, Year 3.

7 0

3 years ago

Bombs Away Video Games Corporation has forecasted the following monthly sales:

vladimir1956 [14]

Answer:

Bombs Away Video Games Corporation

Production and Inventory Schedule

Sales Units Production units Ending Units

Beginning inventory 38,000

January 22,600 15,200 30,600

February 21,200 15,200 24,600

March 7,600 15,200 1,800

April 7,600 15,200 9,400

May 6,600 15,200 18,000

June 9,600 15,200 23,600

July 11,600 15,200 27,200

August 11,600 15,200 30,800

September 13,600 15,200 32,400

October 19,600 15,200 28,000

November 23,600 15,200 19,600

December 27,200 15,200 7,600

Explanation:

a) data and Calculations:

Sales Budget ($'000) Sales Units Production units Ending Units

Beginning inventory 38,000

January $113,000 22,600 15,200 30,600

February 106,000 21,200 15,200 24,600

March 38,000 7,600 15,200 1,800

April 38,000 7,600 15,200 9,400

May 33,000 6,600 15,200 18,000

June 48,000 9,600 15,200 23,600

July 58,000 11,600 15,200 27,200

August 58,000 11,600 15,200 30,800

September 68,000 13,600 15,200 32,400

October 98,000 19,600 15,200 28,000

November 118,000 23,600 15,200 19,600

December 136,000 27,200 15,200 7,600

Total 182,400 182,400

3 0

3 years ago

Credit sales 172,000 collections on accounts receivable during the year 170,000 cash sales 818,000 unadjusted debit balance in a

Marina CMI [18]

Answer:

$250 ( C )

Explanation:

using the given data below is the entry

The adjusting entry to recognize bad debts will include a debit to bad debt expense for

<h3> particulars amount</h3>

Beginning accounts receivable 14000

+ Credit sales made during the year 172000

(-) collections from debtors (170000)

(-) expected salary return & allowances for credit sales (2000)

Ending accounts receivable 14000

Percentage of bad debt 1.5%

Total bad debts balance required ( 14000*1.5%) 210

+ Already debit balance in allowance for doubtful account 40

Total debit to be made in bad debts 250

Total debts = total bad debts balance required + already debit balance in all

= 210 + 40 = $250

7 0

3 years ago

A new company to produce state-of-the-art car stereo systems is being considered by Jagger Enterprises. The sales price would be

dybincka [34]

<u>Solution:</u>

The price per variable unit is set at 1.5 times the cost; the VC / unit is estimated at $2.50.

Price = 2.5 * 2.50 = $6.25

Variable cost = $2.50

Fixed cost = $220,000

Break-Even Volume = Fixed cost / (Price - Variable cost)

= $220.000 / (6.25 - 2.50)

Break-Even Volume = 58,667 units

4 0

3 years ago

True or false?

Sidana [21]

Answer:

The statement is: True.

Explanation:

If we have been given an assignment, it is important to set a schedule of activities to ensure that the final form of our work is delivered on or before the <em>due date</em>, if possible. In the way, there could be problems of various types -for example, technology when delivering a report- that could interrupt our work. Therefore, it is important to consider those risks while scheduling so that we have a contingency plan that will not impact our research and the date we will deliver it.

8 0

3 years ago