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3 years ago

A subsidiary ledger:

Business

1 answer:

ch4aika [34]3 years ago

3 0

Answer:

A subsidiary ledger: is a listing of individual accounts and amounts with a common characteristic.

Explanation:

A subsidiary ledger is a listing of individual accounts with similar characteristics, whose combined balances make up a specific general ledger. The general ledger that captures the summary of the subsidiary ledger is called the master account or control account.

For example, an account receivable subsidiary ledger would comprise the listing of customers with credit purchases; the combined balances would amount to the balance in the accounts receivable ledger.

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Accounts receivable $1,050,000

dimulka [17.4K]

Answer:

c. $ 84,000 increase

Explanation:

The entry when the company wrote off uncollectible accounts:

Debit Allowance for Doubtful Accounts $16,000

Credit Uncollectible accounts $16,000

It makes Account receivable decrease: $16,000

In 2007, Sales on account that were not collected = $290,000 - $172,000 = $118,000

It makes Account receivable at the end of the year increase: $118,000

At 12/31/07,

1. Accounts receivable was: $1,050,000+$118,000-$16,000=$1,152,000

2. Cash realizable value = Accounts receivable - Allowance for Doubtful Accounts = $1,152,000 - $108,000 = $1,044,000

From 12/31/06 to 12/31/07, cash realizable value from the balance increase:

$1,044,000 - $960,000 = $84,000

7 0

2 years ago

The 7 percent preferred stock of Midwest Muffler and Towing is selling for $65 per share. What is the firm's cost of preferred s

Luda [366]

Answer:

e. 10.77 percent

Explanation:

The computation of the cost of preferred stock is shown below:

Cost of preferred stock = Annual dividend paid ÷ Price of preferred stock per share

= 0.07 × $100 ÷ $65

= 10.77%

Simply we divide the annual dividend after considering the par value per share by the price of preferred stock per share so that the correct cost of preferred stock can be computed

3 0

3 years ago

A manufacturing plant is trying to determine standard production per day for an incentive program. Suppose that the incentive pr

raketka [301]

Answer:

He would receive $15 under incentive plan.

Explanation:

The given values are:

Average observed time

= 280 seconds per unit

Performance rating

= 105%

i.e.,

= 1.05

Allowance factor

= 13%

i.e.,

= 0.13

So,

⇒ $Standard \ time = \frac{(Average \ observed \ time\times Performance \ rating)}{1-Allowance \ factor}$

On putting the estimated values, we get

$=\frac{(280\times 1.05)}{(1-0.13)}$

$=\frac{294}{0.87}$

$= 337.93 \ seconds$

The available time will be:

= $(8 \ hours\times 60 \ min/hr\times 60 \ sec/min)$

= $28800 \ seconds$

Now,

The Standard production per day will be:

= $\frac{Available \ time}{Standard \ time}$

= $\frac{28800}{337.93}$

= $85.22 \ units$

Since he generates 100 units, he consumes about 15(00-85,22) units per day well above normal production.

So that he's going to get:

= $15\times 1$

= $15$ ($)

8 0

2 years ago

Suppose during the course of a year an economy produces $7 trillion of consumer goods, $1 trillion of investment goods, $5 trill

In-s [12.5K]

Answer:

D) $12 trillion.

Explanation:

GDP is the sum of all final goods and services produced in an economy within a given period which is usually a year.

GDP = Consumption + Investment + Government Spending + Net Export

Net Export = Export - Import

Net Export = $1 - $2 = -$1

GDP = $7 + $1 + $5 - $1 = $12

All calculations are in trillion

I hope my answer helps you.

4 0

3 years ago

If you receive a ticket to a concert at no charge, what, if anything, is your opportunity cost of attending the concert?

spin [16.1K]

Answer:

The opportunity cost of attending the concert=$0

Explanation:

An opportunity cost is the total monetary loss that one has when they choose a given option. It can also be defined as the gain that one misses when the individual or business chooses one alternative over the other. Opportunity costs are not heavily considered in financial reports, however individuals or businesses who have the opportunity to choose from many alternatives at the same time need to consider the opportunity cost to make a more valuable decision in the long-run. Opportunity costs helps individuals and businesses to make better decisions on the options they have at their disposal.

The opportunity cost can be Determined using the following expression;

OC=FO-CO

where;

OC=opportunity cost

FO=return on best forgone option

CO=return on chosen option

Since in our case, the forgone option was not attending the concert, the cost would be=0

Also since the chosen option was the ticket at no charge, the cost would be=0

In our case;

OC=unknown

FO=0

CO=0

replacing;

OC=0-0=0

The opportunity cost of attending the concert=$0

7 0

2 years ago